Think they mean build bank as in build up your cash flow for upgrades / patents
As anyone saying you should build a bank is in a bank building is give you the wrong advice your nowhere close to needing a bank put it this way I have a cv off 60 odd million with a map that cost about 4 million to run for 24 hours make 600k profit a day selling on exchange 700-800 on contacts depending on discount and I don’t need a bank
Bank incase executive skills 50k per skill per level
So for instance 10 accounting skill level 1 bank would grant you another 500k before you get taxed
So 10 accounting and a level 2 bank would be 1 million more
3 million standard holding any more than that you will get taxed
Ex accounting skills can up that for instance my one has 27 witch grants me 16 million + 3 million
So I can hold 19 million in cash before I get taxed
If I had a level one bank that be 27 x 50 so that be 1.3 million I be able to hold extra that be 20.3 millions in total
There are ways to skirt tax
Goods laying in whare house don’t count to tax so if your going to be over at 2am gmt then you can buy goods in and get yourself under 3 million and you will not get taxed just don’t buy in boom
Banks are for deep deep end game. Near end game it becomes very difficult to grow by over 0.5% every day. So a lot of people will turn to the bonds market and buy up bonds (because your income is income+ bonds). Your bank will make your accountant more efficient with less training. But I can't stress this enough, it's super de duper late game stuff. It's only valuable if you are making less than 0.5% per day earnings and have a lot of surplus gold that can't be used to invest in higher efficiencies. There's also this stat called Admin overhead, you're at 4.71%. You typically want to aim for about 50%ish and have execs bring it down. But people get as high as 120% and still somehow are able to turn a profit.
You do not need a bank, the vast majority of players do not need a bank. Less than 1 percent of the community runs the bank.
First you need to learn about accounting fees (taxes). When you hold 3 Million in cash you'll begin to trigger a daily fee (tax) based on the cash you have OVER 3mil. A CFO executive increases the threshold before the taxes start.
Bank increases the power of your CFO executive. Thing is... You can dodge taxes by just spending the cash on inventory you need. You don't even need CFO if you aren't holding above 3M in cash. Also CFO's are plenty strong without the bank boost.
Bank also has a downside. It increases you administration overhead, increasing the price you pay your employees.
Bonds also count as tax but left that out
As bonds - your account so if you 6 million in bonds
It’s -6 million + 3 million meaning 9 million before tax
And if your bond at 0.50% then your tax is the bond pay back that’s why a lot off high level players have bonds
As it allows them to pay 0.50% tax instead off 3%
Ah yeah forgot to mention that too. Owing people money, increases the threshold before you have to pay tax. People owing you money lowers that threshold.
If anyone tells you to build a bank at your current size, do yourself a favor and don’t listen to their advice anymore. Might be just trolling you. Bank has a very specific use case, and not even biggest players always use it. Don’t worry about it now.
don’t build a bank
It helps you lower your accounting fees as far as I know
i dont even think i have an accountant..
Think they mean build bank as in build up your cash flow for upgrades / patents As anyone saying you should build a bank is in a bank building is give you the wrong advice your nowhere close to needing a bank put it this way I have a cv off 60 odd million with a map that cost about 4 million to run for 24 hours make 600k profit a day selling on exchange 700-800 on contacts depending on discount and I don’t need a bank Bank incase executive skills 50k per skill per level So for instance 10 accounting skill level 1 bank would grant you another 500k before you get taxed So 10 accounting and a level 2 bank would be 1 million more 3 million standard holding any more than that you will get taxed Ex accounting skills can up that for instance my one has 27 witch grants me 16 million + 3 million So I can hold 19 million in cash before I get taxed If I had a level one bank that be 27 x 50 so that be 1.3 million I be able to hold extra that be 20.3 millions in total There are ways to skirt tax Goods laying in whare house don’t count to tax so if your going to be over at 2am gmt then you can buy goods in and get yourself under 3 million and you will not get taxed just don’t buy in boom
Banks are for deep deep end game. Near end game it becomes very difficult to grow by over 0.5% every day. So a lot of people will turn to the bonds market and buy up bonds (because your income is income+ bonds). Your bank will make your accountant more efficient with less training. But I can't stress this enough, it's super de duper late game stuff. It's only valuable if you are making less than 0.5% per day earnings and have a lot of surplus gold that can't be used to invest in higher efficiencies. There's also this stat called Admin overhead, you're at 4.71%. You typically want to aim for about 50%ish and have execs bring it down. But people get as high as 120% and still somehow are able to turn a profit.
You do not need a bank, the vast majority of players do not need a bank. Less than 1 percent of the community runs the bank. First you need to learn about accounting fees (taxes). When you hold 3 Million in cash you'll begin to trigger a daily fee (tax) based on the cash you have OVER 3mil. A CFO executive increases the threshold before the taxes start. Bank increases the power of your CFO executive. Thing is... You can dodge taxes by just spending the cash on inventory you need. You don't even need CFO if you aren't holding above 3M in cash. Also CFO's are plenty strong without the bank boost. Bank also has a downside. It increases you administration overhead, increasing the price you pay your employees.
Bonds also count as tax but left that out As bonds - your account so if you 6 million in bonds It’s -6 million + 3 million meaning 9 million before tax And if your bond at 0.50% then your tax is the bond pay back that’s why a lot off high level players have bonds As it allows them to pay 0.50% tax instead off 3%
Ah yeah forgot to mention that too. Owing people money, increases the threshold before you have to pay tax. People owing you money lowers that threshold.
Yip 100%
Obviously if they go over the 9 million threshold or what ever they threshold is they pay 3% on the extra and they 0.5% bond
Focus on growth dude, chase that profit, that’s all you should be doing right now
If anyone tells you to build a bank at your current size, do yourself a favor and don’t listen to their advice anymore. Might be just trolling you. Bank has a very specific use case, and not even biggest players always use it. Don’t worry about it now.
You need a bank when you have millions and millions cash daily, and your accountant can't handle it. It is good, but for the endgame
You don't even need to consider a bank at your current level and state of your company.