Businesses told how to prepare for bank questions about cash revenue

What entrepreneurs are advised to do

Entrepreneurs who deposit cash revenue into their account should update their business details with the bank in advance and clarify which documents may be needed to confirm the origin of the funds. This was stated by Artem Zhuravlev, Product Director of Method at the fintech company Paygine, in an interview with Gazeta.Ru. According to him, questions may arise if incoming payments differ sharply from the business's usual turnover.

Which documents may be requested

“It is better to notify the bank in advance about opening new retail locations, changing your line of business, or seasonal growth in sales,” Zhuravlev noted. For retail and services, he said, the best confirmation of the origin of revenue is cash register data: deposit amounts should correspond to shift-closing reports. Depending on the source of the funds, the bank may also request loan agreements, purchase and sale contracts, lease agreements, and other documents. There is no single set of documents for all situations. Money not related to the core business, such as a loan from the owner, may require separate attention. A sharp increase in cash receipts and depositing a large sum in parts can also raise questions.

When there is no cause for concern

At the same time, depositing ordinary revenue on a daily basis is not a problem in itself — questions are more likely to be raised by amounts that do not match the scale of the business. Zhuravlev recommended not accumulating revenue without necessity and keeping documents that make it possible to explain the origin of the receipts. The publication also recalls that earlier a lawyer explained whether control over Russians' cash would be tightened; the content of that material is not disclosed in the new publication.