The current account centralises all transactions between you and your company. It is known by several names: executive current account, partner current account or director current account.
Be careful with the current account, as the amount is never in real time. We recommend that you wait for your accountant to approve any repayments.
Purpose of the current account
The current account is a separate accounting account depending on the situation: 416000 when you owe money to your company and 489000 when you owe money to your company.
Its purpose is to keep track of transactions between you and your business:
I make a private contribution from my personal account to my business account
I make a private withdrawal from my business account to my private account
I reimburse myself for a business expense paid by my private account
I receive the monthly expense allowance, also known as the executive expense package
I add a private expense to my business expenses
I make a payment from my company account for a private expense (or an expense that is not supported by a document)
I receive rent from my company, for an office in a building that I own
💡 In a company, the current account is displayed on your Pilotage. You can have up to 9 different current accounts, if you are several directors or partners for example 🤓
Current account in debit or credit
Your current account is either in debit or credit. Ouch, what are we talking about?
Current account in debit (negative on BILLY)
The debit current account (account 416000) is used when you owe money to your company. In this case, BILLY displays a negative amount.
👉🏻 This may mean, for example, that you have made more private withdrawals from the pro account than your salary allowed.
⚠️ On BILLY, your debit and credit current accounts are added together. The balance is therefore shown as positive or negative. If it is negative, this means that you owe money to your business. This situation should remain exceptional, so discuss it with your adviser or via our live-chat. In particular, you could have to pay very high legal interest.
Current account in credit (positive on BILLY)
A current account in credit (account 489000) is the most common situation: the company owes you money. BILLY shows the amount as positive.
💡 The current account is never in real time. This is because your accountant has to oversee the automatic classification of transactions. This can take several days. So be careful and don't hesitate to contact us via live-chat.
Difference with the operator's account
For self-employed natural persons, there is no difference between a debit or credit current account. In fact, there is no such thing as a current account. Everything is classified in the same account 109000, called the operator's account.
👌🏻 As there is no distinction between private and professional assets, there are no specific rules concerning current accounts. The information is not displayed and does not require any follow-up on your part.
If you have any questions, don't hesitate to contact us via the live-chat at the bottom right 😉
See you soon!