The current account of any organization performs many functions. This is, first of all, the implementation of quick and safe settlements with counterparties, as well as with budgets of various levels, storage and reallocation of resources, obtaining and repayment of loans, loans, etc. Depending on the size and scope of the company’s activities, its cash flows are formed, and the result of all the work often depends on the management efficiency.
The need to use a current account
Each entrepreneur starts his own business with a single goal - to get the maximum income. For this, at the stage of formation, it is important to create a base that will further expand business projects and increase momentum.
Creating a small business as part of an LLC or private entrepreneur, many owners are wondering if a current account is needed. Legislatively, this moment is regulated by the Central Bank of the Russian Federation dated June 20, 2007 No. 1843-U. This document allows small businesses to work without opening a bank account, but their cash turnover (within the framework of one concluded agreement) should not exceed an amount of 100 thousand rubles.
For many individual entrepreneurs, it is easier to use other banking services, which are less expensive to maintain than a current account. The credit institution’s cards are sufficient to manage a small amount of cash, and it is mandatory to have cash register for accounting cash receipts. Violation of the procedure approved by law entails penalties that apply to the enterprise itself and its director (owner).
Preparatory stage
Opening a current account at first glance is quite simple, but first, each company needs to conduct a small marketing study of the market for credit institutions. The main criterion for evaluating a bank as an intermediary in managing money is its business reputation and reliability. Also a large role is played by the cost and range of services provided.
Many enterprises open not only a current account, they are interested in collection services, work with monetary documents, the ability to open several groups, including currency and special ones. Currently, a prerequisite for concluding an agreement with a bank is the availability of a remote management system, that is, a client-bank program, which allows not only performing the necessary operations in the current mode, but also monitoring the amount of funds for all categories of settlements. The program itself also plays an important role; customers of a credit institution consider it in the context of simplicity and efficiency of use.
Documents for opening an account
All credit institutions regulate the standard list of documents and requirements for organizations with which they conclude settlement and cash services agreements. They are posted on the bank’s website and are available to any potential client. In order to open a current account in the selected credit institution, you must provide the following package of documents.
- Certificate of state registration of the organization.
- Certificate of registration with the tax office.
- Statement of desire to open a current account.
- Actual extract from the register.
- Permission to carry out the specified type of activity (license).
- Charter of the enterprise (LLC).
- Minutes of the general meeting of owners and an order to appoint a manager.
- Identity cards of officials who are given the right to sign financial documents. These include: the head, director of the enterprise, financial director, chief accountant or other person authorized by order.
- Lease agreement (sublease) of the head office of the company or documents proving ownership of the premises
- Card with signatures and imprint of the official seal of the organization.
It is possible to provide copies of these documents. They are certified by the company independently or a bank employee puts an appropriate mark upon presentation of the originals. In some cases, the participation of a notary is required (at the request of the bank).
Bank cards
One of the prerequisites for the company in the procedure for opening a current account is the presence of a correctly executed document that gives permission for asset management. The card with the samples of the seal and the signatures of authorized persons shall be filled out by the enterprise independently according to instruction 28-I, the form and procedure for filling out the form are regulated by Appendix No. 1.
The first and second signatures of the authorized person are confirmed by the relevant internal order of the organization (order of appointment). One person does not have the right to sign financial documents for both persons. If a situation arises when only the manager has the right to do so, then only the first and only signature is reflected in the card. Regardless of the form of ownership, an organization can open (one or several, in one or different banks) a current account. LLC, IP, CJSC solve this issue independently taking into account the volume of financial flows, their intensity or production need.
Additional documents
Sometimes credit organizations more thoroughly and in detail study the company before signing the contract directly. The security service checks the correspondence of the legal address with the actual location of the company, conducts additional conversations with the manager, the “acquaintance” of the bank and the future partner does not always go smoothly. In this case, in order to open a current account, additional information about the company is required. Most often, the bank requests the following documents:
- Statistical Codes.
- Orders for the appointment of a financial (general, executive) director or chief accountant.
- Confirmation of registration with extrabudgetary funds, etc.
Digital signature
If it is possible to transmit information via electronic communication channels for managing cash flows, it is necessary to issue a digital signature. Enterprises and banks that plan to operate on a “client-bank” system carry out this procedure before opening a current account. As part of servicing existing contracts, EDS can be created at the client’s request at any time. The order of work has the following sequence:
- filing an application;
- software installation;
- receipt of the key (it is generated by the credit institution and transferred to the client for use for the period specified in the contract);
- obtaining a certificate;
- checking the certificate and key by the bank for compliance with this counterparty.
After completing these steps, you can begin to work using the digital signature.
Fiscal Notification
If after submitting documents and passing all banking inspections by the enterprise, the credit institution makes a positive decision, then it gives a notice (certificate) that a current account has been opened. The tax inspectorate, extrabudgetary funds must submit a notification. For this, clear deadlines, document forms are established, for non-compliance with which penalties are applied.
Within seven days (workers) from the moment of receipt of the certificate of opening a current account, the company must submit a notification to the tax office in the form of C-09-1.This form contains the details of the organization (TIN, full name, ORGN) and the bank (name, correspondent account). The form is filled out in duplicate, one of them is returned with the mark of the tax authority at the place of registration of the enterprise. The same procedure is provided for upon notification of the Pension Fund and the Social Insurance Fund.
Account closing
As a result of the company’s activities, it becomes necessary to liquidate its part or relocate, and the partner bank often changes. Closing a current account can be made at any time at the request of the client. All outstanding claims in the event of a shortage of funds in the account are sent to the exactors.
The company must completely eliminate the amount of debt to the bank for settlement and cash services, and transfer the remaining funds to another account or cash out. Unused (received under the contract) checkbooks with roots are returned to the credit institution. Notification to the tax office and related funds is carried out on the same principle as when opening an account. A current account opened in another branch or credit institution is communicated to all partners of the enterprise as soon as possible.
