Currently, everyone, both individuals and entrepreneurs, has their own bank accounts. Settlement of various fees and bills through a bank account is not only simpler and faster, but also much more convenient. While in the case of a private person, fees for transfers or interest resulting from the interest on the account are ordinary costs and profits, in the case of an entrepreneur, each such financial movement must have special documentation and must be accounted for. So how to settle the fees for the transfers made? How to document and book it?
Maintaining a bank account carries a variety of costs. You have to pay for keeping an account, for maintaining an ATM card or for making various transfers. Sometimes, banks also expect you to pay an account creation fee. The fees incurred while maintaining a bank account also include commissions for withdrawals from ATMs other than a given bank or for performing foreign exchange transactions.
These amounts are usually not very high. However, after adding them up not only for a given month, but also for the entire year, you can get much higher values, especially when there are many transactions, and many of them are burdened with various fees. This situation makes entrepreneurs very seriously consider the possibility of introducing these fees to the costs of their business.
Economic activity generates not only profits, but also costs. Their registration is possible only when the entrepreneur has unambiguous supporting documents for their incurrence and when the incurred expenditure is actually related to obtaining income or maintaining its source. This relationship may be direct or indirect. This definition of costs is very broad and gives a lot of room for maneuver for entrepreneurs. However, accountants who professionally deal with the accounting of expenses are very cautious about accounting for the costs of maintaining a bank account and transfers. It is not clear whether they can be considered costs necessary to generate profits, or whether they are used to secure the source of income.
Experience and practice show that in the case of a corporate account, the costs that are incurred in connection with its functioning and operations performed on it are usually booked and accounted for, so as to slightly reduce this tax base.
The basic condition in this respect, however, is that each of the posted costs must be clearly documented with a bank statement. You can generate such confirmations yourself via electronic banking. All you need to do is log in to your bank account and download confirmations of all charges made.
In this way, you obtain documents that are not only credible, but also recognized by the tax office as documents constituting the basis for settlement.
It is worth getting interested in this type of settlement. Although in the scale of a one-off expenditure or even a month, these are not high costs, in a year or several years these amounts add up, and this is more important.