Types of calculations used
Organizations that conduct economic activities in the territory of the Russian Federation use two main types of flow of financial flows: cash and non-cash settlements. Less often for the repayment of mutual claims, securities and the assignment of the debt of a third organization are used. Cash settlements between counterparties are made with the use of banknotes through the cashier's office. This form is widely spread, but its main negative indicator is limited. The use of cash is justified for small amounts of payments in a one-time mode, since moving, documenting, cashing in large amounts requires additional costs from the company. Also, working with large amounts of cash requires specialized equipment, a properly prepared room, specially trained personnel.
Therefore, for large settlement flows, a non-cash system is most often used. Each organization, depending on the type of activity and the amount of financial turnover, independently selects forms of non-cash payments, which are regulated by Article 862 of the Civil Code of the Russian Federation and the Regulations of the Central Bank of the Russian Federation.
Types of non-cash payments
For the process of optimizing mutual settlements between counterparties, organizations and state bodies, budgetary and extra-budgetary funds, individuals, credit organizations and other debtors and creditors, forms of non-cash settlements are provided. An obligatory condition for the application of the selected form is its reflection in contractual obligations signed by both parties performing mutual settlements. In a non-cash form, the settlement takes place through credit institutions, banks in which the relevant accounts (settlement, foreign exchange, special) have been opened. In this case, all disputes arising between counteragents shall be resolved without the participation of the organization of the intermediary (bank) in accordance with contractual obligations in court. Involvement of a credit institution is only possible in case of violation of cash operations, which occurred through her fault. Penalties and other sanctions should be prescribed in the agreement of the organization with a credit institution, a bank. According to the legislation, forms of non-cash payments of the following types are used in the territory of the Russian Federation:
- Settlements with payment orders.
- Calculations by checks.
- Collection calculations.
- Settlements with the help of a letter of credit.
Accounting for non-cash payments
Each organization works according to the rules and regulations of accounting and tax accounting. To reflect the mutual settlements through non-cash transactions, there is an active balance sheet account number 51 "Settlement account", the debit records the process of receipt of funds, the loan records the expense. The account balance 51 denotes the amount of funds on the account at the time of the determination of the balance. To account for the movement of funds under special accounts, account 55 is applied, depending on the number and purpose of the funds on it, sub-accounts are opened for accounting purposes. When the company operates on the international market, an account with the number 52 "Currency account" is additionally used.
Withdrawal in non-cash settlements
For registration of the appropriate form of non-cash payments, standardized documents are provided, to the content of which higher requirements are applied. Banks accept only correctly completed and signed documents for performing settlement operations, in case of incorrect filling in the transfer can not be made. The right to sign payment documents is fixed in the completed card of the bank, which contains a list of persons having this right, with samples of signatures and an imprint (stamp) of the seal of the organization. Filled in settlement and payment documents when making any form of non-cash payments should reflect the information of the following content:
- Name, date of the settlement document.
- The payer's data, its name (full or shortened 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.
- Beneficiary's details, name, account number or other account, name of the credit institution, bank, bank account.
- Amount to be transferred (mandatory in words and numbers).
- The purpose of the payment is either the date and the serial number of the document or contract on the basis of which the funds will be written off.
Depending on the form of non-cash payments, the required number of payment and settlement documents is filled, as a rule, 4 copies (except for the check). Filling is carried out under a carbon paper, at a time or with the use of technical means. Payment for the correctly completed document takes place during the operational day of the credit institution, the bank, until 13 hours.
The most applicable form of payment by bank transfer is a payment order. With the help of this document, 93% of all payments are made. This document is a written instruction to the bank on the transfer of funds located at the settlement, currency, special account of the enterprise, the payee, its credit organization to the account specified in the document. With the help of a payment order, goods and non-commodity payments are paid. The first type includes the transfer of funds for services rendered by the TMC, advance transfers, repayment of accounts payable, rent payments, utility bills, etc. Non-commodity transfers can be made not only through a payment order. The collection form of payment is possible. The following payments are attributed to non-commodity settlements: payments to budgets of different levels, extrabudgetary funds, repayment of loans, loans, overdrafts, interest on their use, transfer of funds to the share of participation in the authorized capital of the organization, purchase of shares, bills of exchange, redemption of fines, penalties and imposed penalties, etc. Positive aspects of the application of this type of calculation is the simplified form of workflow, the ability to pay for non-commodity settlements, and the speed with which funds are transferred.
In case of bank settlements, the bank with a properly executed payment and settlement documents (payment request) shall debit the payer of the specified amount from the payer's account. The demand is presented to the bank in which the payer's accounts are placed, in order to withdraw the amount specified in the document in favor of the beneficiary. In case of shortage of funds in the accounts, the document is placed in the card file of the bank. Write-off of funds occurs as the money arrives. With the collection system of settlements, the bank pays for the payment documents as it matters, first of all, non-commodity claims (settlements with budgets, penalties) are paid, then documents from suppliers of goods and services.
Calculation by checks
Enterprises using cashless checks receive a check book in the bank, each sheet of which is a payment document. The check is filled in for the specific organization of the recipient or an individual, it indicates the amount of the payment, its purpose and the date of filling. Certified by the chief accountant of the organization and its manager, the check 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. The funds are paid in cash after the bank checks the document and if there are funds in the payer's account.
Letter of Credit
To apply non-cash payment by letter of credit, the paying company reserves a certain amount in a special account. When rendering services or delivering goods, the buyer gives instructions to the bank to transfer funds from the account to a specific supplier. This settlement system is preliminarily reflected in contractual obligations, signed by two parties. For supplier enterprises, the use of a letter of credit is more advantageous, in the case of reserving funds under a particular contract in a special account, they have guarantees of receiving the agreed amount in full within the specified period. Funds blocked on a letter of credit can be withdrawn from the payers in the event that the contracting company fails to fulfill its obligations.