Market sellers are often faced with the question of how to work so as not to incur bank compliance. Grigory Maltsev, leader of the Tochka Compliance Products circle, at the request of RB.RU, gave a number of recommendations on conducting business for individual entrepreneurs and LLCs.
Bank compliance is an analysis and control tool that aims to verify the reliability and reality of its activities of an existing or potential client.
“The peculiarity of working in the marketplace is that sellers usually need a lot of cash to buy products at offline outlets. And knowing that cash withdrawals in large volumes can attract the attention of the bank and regulatory authorities, customers begin to worry,” Maltsev said.
However, according to him, the fulfillment services of banks usually understand the needs of sellers and, when analyzing the work with the account, take into account the field of activity and its features.
However, it is important to distinguish how the client’s business is organized, whether it is registered as an individual entrepreneur or as an LLC, the expert points out.
How to run an intellectual property company
So that compliance is not in doubt, it is enough for the seller to follow the basic recommendations:
- Money comes solely from the markets, and if an individual entrepreneur has several types of activities, then there is no need to mix them in one account.
- Additional costs must be paid from the main account: shipping, advertising, packaging, etc. This confirms the reality of the activity.
- An individual entrepreneur has the right to use a corporate card for personal purposes (taxi, groceries, etc.).
- Well, if at least one supplier is ready to work via bank transfer, then the purchase of goods is carried out on account.
- A stable tax charge of at least 1% of all payments made is maintained (if necessary, tax payments can be made in advance).
- Mandatory point: even in the case of cash purchases, the documents of the merchandise must be kept.
How to run an LLC business
Maltsev points out that the rules are stricter for an LLC, since the money in the company’s account does not belong to its director or founder due to the legal form of the company.
So that banks and regulatory authorities do not have questions, it is necessary to follow the following rules:
- It is necessary that the receipts to the account are made from the market (Wildberries, Ozon, etc.).
- As in the case of an individual entrepreneur, it is necessary to make payments that show the real work of the company: rent, salary, payment for delivery.
- It is important to control the tax burden of the company. Taxes and insurance premiums must represent at least 1% of all expense transactions.
- When withdrawing or transferring cash according to the report, it is necessary to make sure that they do not account for more than 30% of the outgoing turnover (that is, of all outgoing payments).
- If an LLC registers to operate on a market, it is necessary to think in advance whether it will be possible to find providers who are ready to work via bank transfer. The main billing should be with them.
- All accounting money must be “closed” by documents. The documentary flow must be correctly maintained, keeping the documents (waybills, checks, receipts) of each cash purchase.
Author:
anastasia marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
