I have an upwork agency "CG3 Solutions" at present I am getting paid throgh my personal account.
Recently we have registed a sole proprietorship company with the same name as upwork's agency name, and also we opened a current bank account with the agency name. But the owner of this firm is my spouse (Not me).
Now can I add this firm's bank current account to the agency account to get paid.?
Thank you for reaching out to us. To set up payment to your bank or payment account, you must be listed as an account holder or authorized signer on that account, or demonstrate that you are authorized by the business to do so. The listed name on the account must match your verified name on Upwork. You can check out this help article for more information.
Please allow up to 48 hours for the team to review the name mismatch on your account. If our team finds an issue with your payment method, we will reach out to you directly with instructions on how to correct it.
Thanks for your reply.
At present, my account does not have any name mismatches because as I said it was linked to my savings account, there is no problem with it now.
But for clear taxation, I would like to register a sole proprietorship firm on the agency name "CG3Solutions" and open a current account with the same name (CG3Solutions).
And I would like to make my spouse as a sole proprietor to this firm because she doesn't have any tax history so far. However, I would be the part of Business Manager of the agency.
And my refined question is -
Being an active owner, Business Manager and also the current account name matched with my agency name - can I add this current account as a payment method? So that I can submit my taxes as per the sole proprietorship norms.
Ultimately, I don't want to make my savings account taxation cumbersome, I would like to maintain clear taxation for my Upwork contracts in the new proprietary firm's current account.
If it is not possible can I have any suggestions to make this happen in any different ways..?
Hi Chandra Shekhar ,
I have same concern about link current bank account under my company rather then saving account with my uypwork account. would you please suggest what was the solution you will have from upwork team.
So accordingly I will prepare documents or your input would be heighly appriciated. thanks..
Thank you for reaching out to us. I understand you want to use a company bank account for your payments. It is acceptable as long as you can provide the following documents for verification:
As long as we can verify that you are authorized to use the account then you can use it as your payment method.
Thanks for the clarification, I wil get back to you here once I got reply from my CA and loyer about bank details and company formation details for the same.
But before that I want to know that I want to be a freelancer not agency, becuase most of the client preffere freelancer then agency. So after changing my bank account details will it be visible as freelancer or agency?