LATAM context
A RUC starting with 10 belongs to an individual running a business, and one starting with 20 to a company. That distinction is visible at a glance and determines which obligations apply and which receipts the taxpayer can issue. The RUC is required to invoice and shows up on electronic receipts, contracts and business banking documentation.
Concrete example
A company RUC looks like 20123456789; an individual with a business, like 10456789012.
How it shows up on your bank statement
On Peruvian business account statements, the RUC sits in the header next to the company name. Inside transactions it shows up in vendor payments and in detracciones, where the descriptor includes the counterparty's RUC.
How does finO$ handle this?
finO$ extracts the account holder's RUC from the header, and the prefix lets it automatically classify whether the statement belongs to an individual with a business or to a company.