Business banking statements - question for other business users

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Hi, I wonder if any other business banking users can answer this.

You can generate business account statements which don’t include pot movements (which is great for accountancy reconciliation).

If you pay a DD from a pot the funds are moved into the main account from the pot first, and the DD shows up on the statement as it’s actually paid from the main account. So, no problem there.

However, you can now make standing order payments from pots, and these are paid directly from the pot.

Has anyone else done this, and does the transaction show on the main account when a statement excluding pot movements is produced? Obviously the change in balance will be reflected on the main statement, but if the transaction itself is not shown this would be really confusing.

Monzo business team on chat have been unable to answer the question and have suggested that I test this and let them know - I don’t really fancy doing this and risking messing up my statements just when my accountant is finally happy with them now that they don’t include pot movements.

Can any business users on the forum answer this question?

Thanks!

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Hey :wave:

I’m pretty sure it would appear on the statement because pots aren’t actually accounts with a sort code and account number so the money has to be sent from a bank account to somewhere.

I have no reason to believe it wouldn’t otherwise it’d look like your money were to have disappeared without a trace if it didn’t appear on the statement.

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Thanks Tom, I’ll give it a try with my co-working space rent on the 25th.

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Turns out that standing orders paid from pots are done the same way as DDs - funds are moved to the main account first. So no problem with the statement.

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Yay :clap:

Glad to have helped! :smile: