12/09/2025
“Do I need to open a separate business account as a self-employed person?” This is a question we often receive at PIA Go! The short answer is: no, it is not legally required. But it is a good idea. In this blog post, we explain why.
As a self-employed person, whether as a main or secondary activity, you are not required to open a separate business account. Unlike a company, the law does not distinguish between private and business assets for sole proprietors. So you can perfectly use your personal account for your business.
But is this practical? Honestly, no. We recommend every self-employed person to open a separate business account. By this, we mean a separate account that is distinct from your private account.
Why? Here’s why:
1. Clear overview in your administration
Do you know that moment when you scroll through your transactions and wonder: “Was that purchase private or business-related?” With a separate account, it is crystal clear: everything that goes through your business account is business-related.
Moreover, your accounting becomes much simpler. In PIA Go!, you can link your business account so that all transactions are automatically imported. This way, you never miss an invoice or receipt and reduce your administrative workload.
2. Privacy during audits
Do you keep everything on one account? Then, during an audit, the tax authorities can not only see your business transactions, but also all your private expenses.
With a separate business account, you keep your private life separate from your business activities. Because let’s be honest: no one needs to know how much you spend on that new hobby.
As a self-employed person, you can freely transfer money between your accounts. For example, if you paid a business expense with your private card, you can simply transfer that same amount from your business account to your private account.
In PIA Go!, you can easily record this as a ‘Transfer between accounts’.
There is often confusion about this: can you pay yourself a ‘salary’ as a self-employed person?
Strictly speaking, no. The concept of ‘salary’ only exists in an employer/employee relationship or within a company that pays a remuneration to a company director.
As a self-employed person without a company (sole proprietorship), you can transfer a fixed amount each month from your business account to your private account, but this is not a ‘salary’ and cannot be recorded as an expense in your accounting.
In PIA Go!, you record this as a standard transfer that has no impact on your business profit.
At PIA Go!, we understand the importance of clear financial management. Our accounting solution integrates seamlessly with your business bank account, so transactions are automatically imported and matched with your invoices.
This way, you maintain a clear overview and reduce the risk of errors. And if you still have questions, our experts are ready to provide tailored advice.
Schedule an appointment today and discover how simple accounting can be.
Am I required to open a business bank account as a self-employed person?
No, it is not legally required for sole proprietorships. You can use your private account, but in practice and administratively, a separate business account is much more convenient.
Does this obligation apply to companies?
Yes. Companies must always have a separate business account in the name of the company. For sole proprietorships, this is optional, but strongly recommended.
Note: PIA Go! is designed for sole proprietorships. For a company, you should contact PIA Group.
Why is a separate account useful?
Mainly for clarity. All business transactions are kept separate, making your accounting clearer and easier.
Can the tax authorities see my private expenses if I use one account?
Yes. During an audit, the tax authorities can request access to your entire account. With a separate business account, you keep private and business finances clearly separated.
Can I transfer money between my private and business accounts?
Yes, without restriction. If you accidentally pay a business expense with your private card, you can simply transfer that amount from your business account.
How do I record such transfers in PIA Go!?
Very easily: via ‘Transfer between accounts’. This keeps your administration correct without affecting your profit and loss account.
Can I pay myself a salary as a self-employed person?
Not literally. The concept of ‘salary’ only applies to employees or company directors. You can transfer a fixed amount from your business account to your private account, but this is not an expense in your accounting.
Do I need to link my business account to PIA Go!?
It is not mandatory, but strongly recommended. If you link it, your transactions are automatically imported and matched with invoices. This saves a lot of work and prevents errors.
What happens if I do not open a separate business account?
Nothing legally, but your administration can quickly become unclear and your privacy may be compromised during audits.
How does PIA Go! help with my business bank account?
PIA Go! connects directly to your bank, automatically imports transactions and matches them with invoices. This gives you more time to focus on your business.
