Since January 2015 and the Social Security financing law, microentrepreneurs have been required to open a bank account dedicated to their business, even if it's secondary. This measure was taken to avoid confusion between professional and personal income. It is also intended to limit income declaration fraud. For microentrepreneurs, opening this account implies certain obligations and choices.
Micro-business bank account: obligations
From the moment you start a business under microenterprise status, you must have a microentrepreneur account. Since the Sapin 2 law came into force in 2017, you have 1 year from the creation of the micro enterprise to open a bank account.
You are not obliged to open a pro account. The obligation is to have a dedicated account. This can be a personal account, which is often less costly. Please note, however, that for an EIRL (Entreprise Individuelle à Responsabilité Limitée), even if it has opted for the micro social regime, opening a professional auto entrepreneur account is compulsory.
If you've opened a mixed micro-business, i.e. with several different activities that don't fall into the same categories, a single account is all you need. In the event of an audit, you will need to justify the income and expenses of your activities. It is preferable to manage them from a single account.
The advantages of a dedicated business account
Although originally a legal obligation, opening a dedicated bank account, whether for business or personal use, has a number of significant advantages.
It clarifies transactions and simplifies bookkeeping. Indeed, even if a microentrepreneur benefits from a simplified system, he or she is still required to keep accounts, even if these are kept in a notebook or on a spreadsheet listing only receipts and expenses. They must also keep all receipts and disbursements. So, using your personal account for business transactions means being able to justify all receipts and disbursements from the account, even personal ones. This greatly complicates the task in the event of an URSSAF audit.
On the other hand, having a dedicated account saves time when you need to check the payment of an invoice or search for a transaction.
Why choose a pro account rather than a personal account for your micro-business?
It's true that a business account is generally more expensive than a personal account. Nevertheless, opening a business account offers considerable advantages that can have a real impact on the life of your company.
This allows you to benefit from services dedicated to professionals:
- A bank card with a higher payment limit.
- Cheaper transfers.
- The possibility of obtaining a credit card payment terminal and setting up payment facilities on your website.
- Bill customers remotely by sending an SMS with a payment link.
You'll also benefit from more appropriate follow-up and offers tailored to running a business. If you're just starting out, the micro-business status is perhaps the simplest and most suitable. However, if you want to make it your core business and develop it further, the sales ceilings may not be enough for you in the short or medium term. When you decide to change the status of your business, a professional account will become mandatory. Opting for a pro account for your micro-business is therefore an ideal solution to avoid this problem.
Traditional bank or online business account?
To open a business bank account, you can go through a traditional pro bank, an online bank or an online payment institution.
Opting for a payment institution like Anytime is both a comprehensive and low-cost solution. It allows you to open a pro account and benefit from the associated services while enjoying low fees. What's more, Anytime offers innovative solutions that make it easier to manage your day-to-day cash flow. Available in the form of a mobile application and a computer-based management interface, the payment institution is highly flexible.
Traditional banks certainly offer you a dedicated advisor with whom you can make an appointment whenever you like, although it's not always easy to get a quick meeting. Online business accounts, on the other hand, don't offer a relationship with a dedicated advisor, but they do have a responsive customer service team capable of answering all your queries at very short notice. Opening a business account is fast and 100% digital.
If your business requires regular deposits of cash or cheques, and you need fast processing times, opening an online business account may not be the best solution for you. On the other hand, if you want to be paid regularly by bank transfer and credit card, or set up an online store with a payment module, an online payment institution will offer you perfectly adapted solutions at a much more attractive rate.
Opening a microentrepreneur account is a must, but it's also a convenience, all the more so if you choose to open a business account online. You'll benefit from services and rates perfectly suited to a micro-business.
