Types of calculations used
Organizations conducting business activities in the Russian Federation use two main types of movement of financial flows: cash and non-cash payments. Less often, in order to settle mutual claims, securities and debt transfer to a third organization are used. Cash payments between counterparties are carried out with the use of banknotes through the cash desk of the enterprise. This form is widely distributed, but its main negative indicator is limited. The use of cash is justified in case of small amounts of payments in a lump sum mode, since moving, documenting, cashing large amounts requires additional expenses from the enterprise. Also, working with large amounts of cash requires specialized equipment, properly trained premises, specially trained personnel.
Therefore, with large settlement flows, a cashless system is more often used. Depending on the type of activity and the size of the financial turnover, each organization independently chooses forms of non-cash settlements, which are regulated by Article 862 of the Civil Code of the Russian Federation and the Regulation of the Central Bank of the Russian Federation.
Types of cashless payments
For the process of optimization of mutual settlements between counterparties, organizations and government agencies, budgetary and extra-budgetary funds, individuals, credit organizations and other debtors and creditors, forms of non-cash payments are provided. A prerequisite for the use of the chosen form is its reflection in the contractual obligations signed by both parties involved in mutual settlements. In non-cash form, settlement takes place through credit institutions, banks, in which enterprises have relevant accounts (settlement, currency, special). In this case, all disputes arising between counterparties are resolved without the participation of the organization of an intermediary (bank) in accordance with contractual obligations in court. Bringing a credit organization to liability is possible only in case of violation of cash and settlement operations that occurred through its fault. Penalties and other sanctions should be spelled out in the contract of the organization with a credit institution, a bank. According to the legislation, on the territory of the Russian Federation, non-cash payment forms of the following types are used:
- Calculations using payment orders.
- Calculations by checks.
- Collection of payments.
- Calculations using a letter of credit.
Accounting for non-cash payments
Each organization conducts work in accordance with the rules and regulations of accounting and tax accounting. To reflect the mutual settlements for non-cash transactions, there is an active balance account number 51 “Settlement Account”, the process of receipt of funds is recorded on the debit and the expense on the loan. The account balance 51 denotes the amount of funds in the account at the time of determining the balance. To account for the movement of funds on special accounts, account 55 is used, depending on the amount and purpose of the funds on it, subaccounts are opened for accounting purposes. When an enterprise operates in the international market, an additional account is used under the number 52 "Currency Account".
Workflow for cashless payments
For registration of the appropriate form of non-cash payments, standardized documents are provided, the content of which is subject to increased requirements. Banks accept only correctly completed and signed documents for settlement transactions; if they are not filled out correctly, the transfer cannot be made. The right to sign payment documents is fixed in the completed bank card, which contains a list of persons entitled to this right, with samples of signatures and an imprint of the (official) seal of the organization. When completing any form of non-cash payments, the completed payment documents should reflect the following information:
- Name, date of payment document.
- The data of the payer, its name (full or abbreviated in accordance with the constituent documents), the number of the settlement or special account, the name of the bank in which the account is opened, the correspondent bank account.
- Data of the beneficiary, name, number of the settlement or other account, name of the credit institution, bank, bank / bank account.
- Listed amount (required in words and numbers).
- The purpose of the payment or the date and order number of the document or contract on the basis of which the funds will be debited.
Depending on the form of non-cash payments, the required number of payment and settlement documents is filled in, usually 4 copies (except for the check). Filling takes place under a carbon copy, at a time or with the use of technical means. Payment for a correctly filled out document takes place during the operational day of the credit organization, bank, before 1 pm.
The most applicable form of settlement by bank transfer is a payment order. With this document, 93% of all settlements are carried out. This document is a written order to the bank on the transfer of funds on the settlement, currency, special account of the company, the payee, the credit institution to the account specified in the document. With the help of the payment order paid commodity and non-commodity payments. The first type includes the transfer of funds for services rendered, goods and materials received, advance transfers, repayment of accounts payable, rent payments, utilities, etc. Non-part-time transfers can be made not only by means of a payment order. Possible collection form of payment. The following payments are related to non-commodity settlements: payments to budgets of different levels, extrabudgetary funds, repayment of loans, loans, overdraft, interest on their use, transfer of funds to account for the share in the authorized capital of the organization, purchase of shares, bills, repayment of penalties, penalties and levies fines, etc. The positive aspects of applying this type of settlement are the document flow of a simplified form, the ability to pay non-monetary payments, the speed of movement of funds.
In case of collection settlements, the bank, with appropriately executed settlement and payment documents (payment request), writes off the specified amount from the payer's account. The requirement is presented to the bank in which the payer's accounts are placed in order to withdraw the amount indicated in the document in favor of the beneficiary. In the event of a shortage of funds in the accounts of the document is placed in the card file of the bank. Write-off of funds occurs upon receipt of money. In case of a collection settlement system, the bank pays the payment documents according to their importance, first of all, non-commodity requirements are paid (calculations with budgets, fines), then documents from suppliers of goods and services.
Enterprises using cashless payments by check receive a checkbook in the service bank, each sheet of which is a payment document. The check is filled in for a particular recipient’s organization or individual, it indicates the amount of the payment, its purpose and the date of completion. The check certified by the chief accountant of the organization and its head must be cashed within 10 banking days from the date of issue. Receipt of funds by check occurs through the bank of the organization that issued it. Funds are paid in cash after verification by the bank of filling in the document and if funds are available in the payer's account.
Letter of credit
For the application of non-cash payment using a letter of credit, the paying company reserves a certain amount in a special account. When rendering services or delivering goods, the buyer orders the bank to transfer funds from the L / C account to a particular supplier. This settlement system is tentatively reflected in contractual obligations, signed by two parties. For supplier enterprises, the use of a letter of credit is more beneficial, in the case of reserving funds for a specific contract on a special account, they have guarantees of receiving the agreed amount in full within a specified period. Cash blocked on a letter of credit can be withdrawn from payers in case of improper performance of contractual obligations by the supplier.