Topping up your current account as an individual entrepreneur: legal methods and taxes

How can an individual entrepreneur replenish his current account with his own funds?

An individual entrepreneur can deposit funds into his current account using a personal card, electronic wallets, through a bank branch or through a card linked to the current account. Each of these methods has its own characteristics.

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Topping up your current account from a personal card

An individual entrepreneur can top up his current account with funds from a personal card using online or mobile banking. In both options, you need to log into your personal account using the login of an individual. Then go to the “Payments” tab and select the transfer method according to the legal details. persons (enter data in the form provided). The source of payment will be your personal card.

If a personal card and a current account are opened in the same bank, then a transfer fee may not be charged, but this does not apply to all banks. If in different ones - according to the tariff of the bank in which you have a current account.

This method of replenishment is convenient because after filling out the template once, you can then repeat the transfer without having to enter all the details again.

Topping up a corporate card linked to a current account via an ATM

With this method, you insert the card into the ATM and deposit cash. If the menu has a separate tab for these purposes, you can use it. To do this, you need to enter the login and password that the bank gave you.

If the payment is made at an ATM that belongs to your bank or a partner bank, then no commission will be charged for replenishing the account; if to a third party, then you will see the amount on the screen.

The advantage of this payment is that you do not need to enter your details, they are displayed automatically, and the likelihood of making a mistake is extremely small. The downside is that there may not always be an “interest-free” ATM nearby.

Depositing cash through a bank cash desk

In order to deposit your funds into your current account, an individual entrepreneur must contact the bank manager with a passport. The specialist will fill out the transfer form and direct you to the cashier. The cashier will check the transfer, take the cash from you and credit it to your current account.

When you make a deposit in your bank, no commission is charged for the transaction; in third-party banks, it is charged according to the current tariffs.

The advantage of this method of depositing money is that bank employees double check the correctness of the payment and indicate the correct purpose. The disadvantage is that you need to go to a bank, preferably your own, in order to save on commissions.

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Transfer systems

Using any transfer system, an individual entrepreneur can also deposit his own funds into the account. The most popular of them are Unistream and Contact. We go to the website of the selected payment system, go to the “Transfers” section and select card-to-card payment (suitable only for replenishing a corporate card). If you don’t have a card, you can deposit money through the nearest branch, with your passport. Where it is located and what the transfer fee will be can be found on the company’s website.

An individual entrepreneur can top up his current account using electronic wallets such as Qiwi, WebMoney, Yadex.Money and others. This can be done either through the terminal or through the mobile application. The procedure is the same. We choose how we want to transfer money - from card to card or using bank details, fill out the template, and make the transfer.

If the bank does not have branches, such as Tinkoff, you can deposit money into your account through Euroset and MTS. The main disadvantage of such transfers is the large commission, which can be from 2% or higher.

Personal funds deposited into the cash register

The procedure for registering transactions for depositing money into the cash register differs among entrepreneurs. The fundamental difference lies in the accounting procedure. If an individual entrepreneur keeps accounting records, then he uses cash documents to reflect transactions and records the receipt of funds and their disposal using cash receipts and expenditure orders. If accounting is carried out only for tax purposes, then all transactions are reflected only in the book of income and expenses.

If accounting is maintained, then any movement of funds through the cash register should be reflected.

The main operations through the cash register are:

Debit 76 Credit 50 – receiving cash from the cash register.
Debit 50 Credit 76 – depositing money into the cash register.

If you need to replenish your account from the cash register, you must issue a cash expense order, in the basis of which indicate “Depositing the entrepreneur’s personal funds to the current account.”

The correspondence of accounts will be Debit 51 Credit 50, which means replenishment of the current account with personal funds previously deposited in the cash register.

Replenishment of an account without a cash register is made through Debit 51 Credit 76 - depositing personal funds into a current account by an individual entrepreneur.

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The procedure for recording cash transactions is regulated by Directive No. 3210-U dated March 11, 2014.

The instructions oblige you to maintain a cash book and issue orders, which must indicate the basis for the issuance or the source of origin of the money.

Compliance with the procedure allows you to determine which funds are personal and which are income, in order to eliminate the possibility of errors when calculating the taxable base. Clause 4.1 of the Instructions states that transactions are not reflected if income and expenses are kept track of and the entry of own funds into the accounting book is not included, since they are not income.

Thus, it is necessary to highlight several fundamental positions:

When maintaining an accounting system, any transaction through the cash register must be documented with accounting entries.
When recording transactions with incoming and outgoing cash orders, it is necessary to maintain a cash book.
When accounting for income and expenses, there is no need to maintain a cash book and there is no need to issue orders.

The basic accounting regulations depend on the taxation system.

How many days does the money go?

Transfers from card to card usually take place within one day. If the money is sent to an account number, the transfer can take from 1 to 5 days. For example, if the payment is sent towards the end of the opera. day, it will be carried out only on the next working day, and if there is a weekend ahead, then only two days later.

If an error is found in the transfer, it will fall into the category of unclear payments. In this case, bank tellers will ask you for details, which will take a lot of time.

We recommend reading: Rating of banks for small businesses with profitable cash settlement services for individual entrepreneurs and LLCs.

Replenishment methods

The procedure for sending funds to your account directly through the Sberbank cash desk is very simple. To do this, it is enough to act in the following sequence:

Come to the bank branch during business hours.
Show your passport to the cashier and provide the necessary data and the amount of the transfer.
Deposit cash, including a commission, the payment of which falls on the shoulders of the sender of the money.
Confirm the payment. It is better to keep the check issued by the cashier until the funds are credited.

The cashier may request the following information from the sender:

card or account number;
information about the branch where the account was opened (the branch number and its address are sufficient);
BIC of the bank, if the money is sent to an account opened in another financial institution.

Many businessmen are interested in how to deposit money into an individual entrepreneur’s account in Sberbank. Some of them are afraid of making a mistake or committing an offense. That's why it's important to know the exact answer to this question.

If it comes to an individual entrepreneur, then he can send money to his personal account in the same way as other individuals. When opening a special account for making business payments, the procedure changes somewhat. You can only deposit money you earned into your account, indicating the purpose of the transfer.

If the money was borrowed, then you need to display it in your account accordingly, and then issue a refund to the owner. Such payments are not subject to taxes. This is relevant not only for individual entrepreneurs, but also for legal entities.

Perhaps the simplest and most convenient way for the client to replenish an account is to use the Sberbank Online system, which is carried out through the user’s personal account.

If you plan to transfer money between your accounts, then there is a corresponding button in the main menu. The client will only have to select a replenishment and debit card, enter the amount and confirm the operation.

If funds need to be deposited into another person’s account, the procedure is performed slightly differently. Necessary:

Go through the authorization procedure in the system. To do this you will need an ID and password.
From the main menu, go to the payments and transfers section.
There you also need to select a currency transfer and exchange point. Interestingly, through Sberbank Online you can send money in any currency (which is on the card or account). If necessary, the system will independently make the conversion at the current exchange rate and credit the funds to the recipient’s account.
In the menu that appears, you need to select a transfer to a private person. Money can be transferred not only to the recipient’s card, but also to his account or deposit.
The system will redirect the client to the page for filling out payment information. Here you enter information about the recipient (account number, BIC and bank name), and the transaction amount. You also select the card, account or deposit from which funds will be debited.
At the end, you will need to confirm the operation by entering a code from SMS or a one-time password.

Often people want to know not only how to deposit money into a Sberbank account, but also how to do it as profitably as possible.

Comparing all the available options, we can come to the conclusion that the least commission is charged when using the Sberbank Online system. This is due to saving resources and automating account replenishment processes. However, using this method becomes more difficult if the sender of the money only has cash. If he does not have a Sberbank Online card, he will not be able to use it at all.

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If you want to top up your account, you can use the following methods:

Through a bank cash desk.
Using an ATM.
Transfer from a corporate card.
Transfer from accounts of other banks.
Transfer using online services.

Let's look at the features of each method.

To complete the operation, you need to take with you your passport and a written basis for writing off money - a receipt, contract details or payment order.

The procedure looks like this:

Visit the office of the financial institution and contact the cashier.
Provide details for the transaction - account number, BIC, corr. account, TIN and passport.
Wait for the receipt to be issued and the transfer to be completed.

Many banks support a self-collection service, that is, you can deposit money into your account via an ATM. To do this, you need to obtain a special code from the bank, which will be needed when making a transaction. After this, you select the desired operation from the menu, fill out the fields and deposit the required amount, which is credited to your account within 24 hours.

This method is suitable for individual entrepreneurs using a corporate card. The transfer is made through the website of the financial institution, using a mobile application, an ATM or at a bank office. In the latter case, you need to contact a manager who will help you transfer money through the terminal using a card.

To complete the transaction, you must have a current account with Sberbank. You need:

Log in to your personal account.
Go to the translation menu.
Indicate the account number, INN and BIC of the recipient (the service will display other data automatically).
Enter the amount of the transfer and the account number from which the debit will be made.
Confirm the transaction.

Before depositing funds into a current account, an entrepreneur should determine the legal grounds for this. Otherwise, there is a risk of additional taxation, penalties and misunderstandings in relations with Russian banks.

If it is not revenue that is deposited, then cash receipts should indicate “Replenishment of the account with your own funds” or other wording with the same meaning.

If an employee registered with an individual entrepreneur transfers money to the bank, then the replenishment on his behalf will be counted as delivery of proceeds, and will become the basis for calculating taxes.

But help or loans from friends and relatives should not be included in the tax base. This will be too expensive and will make it impossible to return the amount received from circulation legally. This kind of money is needed:

or contribute on your own behalf;
or formalize it as a loan indicating the lender.

Borrowed funds can be freely withdrawn from the current account within the period established by the agreement.

Another legal option is to include in advance the person replenishing the current account in the list of those who have access to the account. His details and signature will be registered with the bank. But the issue of replenishing his account without charging taxes will have to be resolved separately.

Funds earned as a result of commercial activities are entered as revenue. There is a proven mechanism for this and several options for transferring money to the bank:

at the cash desks of the bank branch that opened the account;
at the cash desks of other banks;
in the terminals of your bank;
in terminals of other banks;
transfers from plastic cards;
transfers from other accounts;
through cash points in various institutions, incl. in post offices and retail facilities;
using money transfer systems.

If it is not revenue that is transferred to the account, then you will have to choose a system that allows you to select the destination of the transfer. It is best to do this at the cash desks of your bank.

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Here you need to clarify the rules and service fees in advance.

Some banks charge a certain percentage of any incoming cash amount.
Some people charge a commission for some deposit methods and not for others.
Some introduce limits on amounts, some are accepted for free, some with a higher commission, some with a smaller one.

All this depends not even on the bank, but on the selected cash settlement tariff. Although deposit fees are usually not high, if you have a lot of cash flow, it makes sense to shop around for a better rate.

A special cost item for depositing cash into an account is the collection fee, i.e. not independent delivery of proceeds, but its collection by bank collectors. This costs even more.

Depositing money into an individual entrepreneur's current account by a third-party individual

Any physical a person can deposit money into an individual entrepreneur’s account at his request. This can be done using one of the methods discussed above. But such transfers can be regarded as business income, and tax will need to be paid on them. To avoid this, an individual entrepreneur must enter into a loan agreement with an individual, specifying the amount, repayment period, interest repayment terms, or indicate that the loan is interest-free.

This condition must be met even if the money is transferred by the husband/wife of the individual entrepreneur.

However, if you use the simplified tax system or OSNO, then when receiving an interest-free loan you will need to pay 35% personal income tax on income, calculated based on 2/3 of the refinancing rate (current at the time of receiving the loan). If you pay UTII or PSN, then you do not need to pay personal income tax, since entrepreneurs in these taxation systems are exempt from it.

Results

An individual entrepreneur has the right to withdraw funds from his own business and invest them in it without restrictions. At the same time, it is not mandatory for individual entrepreneurs to open a current account intended for funds involved in business. But having such an account provides certain advantages.

An individual entrepreneur is not required to keep accounting records.
However, when exercising such a right, he must take into account the funds contributed to the business as an increase in the capital generated during entrepreneurship. When using the double entry method, the posting will look like Dt 51 Kt 84. You can find more complete information on the topic in ConsultantPlus. Full and free access to the system for 2 days.