It's easier and cheaper

[sadiksojib35]

Myths about the personal account of an individual entrepreneur
Some individual entrepreneurs mistakenly believe that a personal bank account is enough to conduct small commercial activities. However, this is not true. Here are the main myths about using a personal account for business:

Opening a current account does require a little more paperwork, but maintaining a personal account with frequent income from commercial activities may be more expensive due to exceeding limits and fees.

"The tax office won't know"
Tax authorities have the right to request information from the armenia whatsapp number data bank on the movement of funds in all client accounts, including personal accounts. If facts of using a personal account for commercial purposes are revealed, the individual entrepreneur will face fines.

"This is just a temporary measure."
Using a personal account for business can become a habit, making it difficult to switch to a current account in the future. Not separating finances also makes it difficult to keep proper bookkeeping.