PrivatBank presented new functionality for entrepreneurs — the "Limit Control" widget in the "Privat24 for Business" mobile app. From now on, sole proprietor (FOP) clients can track their income volume and monitor compliance with the annual limit for their tax group without manual calculations or risk of making mistakes.

The main advantage of the update is that financial transaction analysis occurs automatically. The system independently separates the entrepreneur's real income from transactions that do not need to be accounted for, helping prevent limit overruns and forced transitions to another tax system.

Widget Features:

• Automatic income calculation: the system independently calculates all incoming funds to the sole proprietor's current account, accounting for acquiring fees.
• Smart filtering: the app cleanses the statement from transactions that are not considered income under the law (transfers between own accounts, deposit returns, and credit funds).
• Accounting for external income: you can manually add income received outside PrivatBank accounts (for example, cash transactions) to have a complete and accurate picture.
• Automatic FOP group identification: the system independently identifies the tax group via the "Electronic Reporting" service and pulls up the corresponding limit threshold (parameters can be adjusted manually if necessary).
• Reporting period selection for Group 3: for Group 3 sole proprietors, the ability to conveniently change the period (Q1, 6 or 9 months) has been implemented for accurate calculation and income recording during the preparation and filing of tax returns.

 How to use the service:

Update the "Privat24 for Business" app to the latest version.

You can use the feature via the "Analytics" section in one of two convenient ways:

1. Via account card: on the main screen, tap the three dots "⋮" ➔ "Analytics" section.
2. Via statement menu: go to "Statement" menu ➔ "Analytics" section — "Limit Control". 

The launch of the new tool is another step by PrivatBank in digitalizing services for small and medium-sized businesses, aimed at making tax metric control a simple, background, and transparent process.