The average balance (Giacenza Media) is a tax document required by Italian regulations, which reports the average balance of your account calculated on an annual basis. This certificate is essential for filing your tax return and calculating your ISEE (Equivalent Economic Situation Indicator).
The average balance is calculated by adding all daily account balances throughout the year and dividing the total by 365 days. Qonto provides this certificate specifically for accounts held by individuals, sole traders, and freelancers operating in Italy.
What is the average balance certificate and why do I need it?
The average balance certificate is a financial document that shows the average balance of your account over an entire calendar year. Italian tax authorities require this information for several important purposes.
The average balance certificate will mainly be needed in two cases:
- Tax returns: to accurately report your financial situation when filing your annual tax return
- ISEE calculation: to determine your Equivalent Economic Situation Indicator, which affects your eligibility for social benefits, subsidies, and reduced rates for public services
The calculation method is straightforward: Qonto adds up your account's daily balance for every day of the year (365 days) and divides this total by 365 to obtain your annual average balance.
Who can request an average balance certificate?
The average balance certificate is available to all Italian customers, regardless of the account's legal form (individual, sole trader, freelancer, SRL, SPA, etc.).
How can I obtain my average balance certificate?
Average balance certificate for 2025: you can download the certificate in PDF format directly from the app or the web, without contacting Support. This document will be useful for the 2027 ISEE.
Average balance certificate for 2026: the document will be available starting January 10th, 2027.
👇 Here's how to download it:
💻 From web: Business account → Accounts → Download account statements → Select "Annual Average Balance Certificate [Year]" → Download PDF
📱From mobile: Homepage → "Download account statements" shortcut → Select "Annual Average Balance Certificate [Year]" → Download PDF
Average balance for years prior to 2025: contact our support team via chat in the app or by email at support@qonto.com, specifying the calendar year for which you need the certificate. Once your request has been verified, you will receive the document in PDF format.
What information is included in my average balance certificate?
Your average balance certificate contains all the essential information required by Italian tax authorities.
The PDF document you will receive will include:
- All IBANs associated with your Qonto account
- The average balance calculated for each IBAN for the requested year
- The account balance as of 31 December of the requested year
- Account holder information and account details
This comprehensive document provides everything needed for your tax return or ISEE calculation without requiring any additional supporting documentation.