A new widget has appeared in the Privat24 for Business application - "Limit Control". Thanks to this, individual entrepreneurs can automatically track their income and monitor compliance with annual limits for their tax group, avoiding manual calculations and the risk of making mistakes.
A new widget has appeared in the Privat24 for Business application - "Limit Control". Thanks to this, individual entrepreneurs can automatically track their income and monitor compliance with annual limits for their tax group, avoiding manual calculations and the risk of making mistakes.
"The main advantage of the update is the automatic analysis of financial transactions. The system independently separates the entrepreneur's real income from transactions that are not subject to accounting, helping to prevent exceeding limits and forced transition to another taxation system," the bank said in a statement.
Features of the new widget:
Automatic income calculation: the system calculates all receipts to the individual entrepreneur's current account, taking into account acquiring fees.
Smart filtering: the application cleans the statement of transactions that are not income according to the law (transfers between own accounts, deposit returns, credit funds).
Accounting for external income: the ability to manually add income received outside of PrivatBank accounts (for example, cash).
Automatic determination of the individual entrepreneur group: the system identifies the taxation group through "Electronic Reporting" and sets the appropriate threshold limit (parameters can be changed manually).
Selecting the reporting period for the 3rd group: convenient change of the period (1st quarter, 6 or 9 months) for calculation accuracy when preparing reports.
How to use the service:
Update the "Privat24 for Business" application to the latest version.
Go to the Analytics section in one of two ways:
Through the account card: on the main screen, click "⋮" ➔ "Analytics".
Through the statement menu: go to “Statement” ➔ “Analytics” ➔ “Limit Control”.
