The words consumable non-cash cash refer to. Non-cash payment: application

Non-cash payments under letters of credit, collection, payments by payment orders: features and advantages

Cash payments using cash registers and strict reporting forms

Cash limit: who should count and how to do it

Cashless payments

Non-cash mutual settlements are used by legal entities and individual entrepreneurs more often than others, since there are practically no restrictions on their implementation, unlike cash payments. Non-cash payments on the territory of Russia are carried out on the basis of the Regulations on the rules for the transfer of funds, approved by the Bank of Russia No. 383-P on June 19, 2012 (hereinafter referred to as the Regulations).

Forms of non-cash payments are chosen by organizations independently and may be provided for in agreements concluded by them with their counterparties.

Settlements under a letter of credit

Letter of Credit- this is an order from the payer’s bank to the recipient’s bank to make payments, by order and at the expense of the client’s funds, to an individual or legal entity within the specified amount and on the terms specified in this order.

Four entities are involved in transactions under a letter of credit:

1) payer buyer who, by opening a letter of credit, fulfills obligations to his creditor (seller);

2) issuing bank- the bank in which the buyer’s current account is opened and which, at the buyer’s request, opens a letter of credit for him;

3) Executing bank— the bank in which the seller’s current account is opened;

4) salesman- payment receiver.

The letter of credit calculation scheme is shown in Fig. 1.

Procedure for settlements under a letter of credit:

1. The buyer submits an application for opening a letter of credit to the issuing bank where he has a current account. The bank deposits the amount specified in the application in a special deposit account, i.e. opens a letter of credit.

2. Funds are debited from the buyer's account and transferred to the bank serving the seller (executing bank) to a special account opened for settlements under the letter of credit. Money is transferred to the executing bank by a payment order from the issuing bank, which contains information to establish the letter of credit, including its date and number.

3. The seller receives a notification from the fulfilling bank that funds have been credited to his account, which is a signal to fulfill his part of the contractual obligations (for example, to ship goods).

4. The seller ships the goods to the buyer.

5. The seller submits to the executing bank the shipping documents that were specified in the terms of the letter of credit.

6. The executing bank checks the shipping documents provided by the seller (the period for checking documents is no more than 5 business days following the day of receipt of the documents), after which it credits the money to the seller’s bank account and transfers the documents confirming the shipment to the issuing bank. Notifies the issuing bank of the use of the letter of credit.

7. The issuing bank notifies the buyer about the use of the letter of credit and provides him with documents evidencing shipment.

Example 1

Iskra LLC (buyer) buys restaurant equipment from Planet-Service LLC (seller) under a supply agreement in the amount of RUB 1,500,000. The supply agreement provides that:

• payments under the agreement will be made from an irrevocable letter of credit;
• settlement can be made after submitting shipping documents to the bank for shipment and transportation of equipment.

The Iskra company sent to Kranbank, in which it has a current account (issuing bank), an application for opening an irrevocable letter of credit, where it indicated the following information:

• equipment supply agreement No. 12 dated February 27, 2018;
• irrevocable covered letter of credit;
• seller - Planeta-Service LLC;
• seller's bank (executing bank) - Bank Soyuz;
• a list of shipping documents that the seller will have to provide to confirm shipment - a bill of lading;
• list of goods for payment for which a letter of credit is opened - kitchen equipment;
• Letter of credit amount—RUB 1,500,000.

Kranbank deposits the funds of Iskra LLC in a special account in the amount of 1,500,000 rubles, i.e. opens an irrevocable letter of credit. The bank's commission for opening a letter of credit is 0.85% of the amount of the letter of credit, i.e. 12,750 rubles. (RUB 1,500,000 × 0.85%).

By payment order, the issuing bank writes off funds in the amount of RUB 1,500,000. and transfers them to the executing bank - Bank Soyuz to the account opened by the executing bank for making payments under the letter of credit.

Planet-Service LLC receives from its bank a notification about the crediting of funds under the letter of credit, which is a signal for it to fulfill its part of the contractual obligations - the shipment of equipment. Planet-Service LLC ships equipment and provides Soyuz Bank (executing bank) with a TTN for the shipment of kitchen equipment.

The executing bank, in turn, transfers them to Kranbank (issuing bank). The issuing bank checks the shipping documents and, after verification, transfers them to the buyer - Iskra LLC. From the account opened by the executing bank for settlements under the letter of credit, money is credited to the settlement account of the seller - Planeta-Service LLC.

Postings under a letter of credit from Iskra LLC:

Debit of account 55 “Special accounts in banks” sub-account “Letters of credit” Credit of account 51 “Settlement accounts” - 1,500,000 rubles. — funds were transferred to a covered irrevocable letter of credit;

Debit of account 60.1 “Settlements with suppliers and contractors” / LLC “Planet-Service” Credit of account 55 “Special accounts in banks” sub-account “Letters of credit” - 1,500,000 rubles. — money was transferred to the seller from a special account;

Debit of account 91.2 “Other expenses” Credit of account 51 “Current accounts” - 12,750 rubles. — the commission for opening a letter of credit is taken into account.

Payments for collection

Collection is one of the forms of settlement between the seller (of goods, works, services) and the buyer, when the settlement is carried out not by the parties to the transaction, but by their banks.

Payments for collection represent a banking operation when the bank, on behalf of its client, on the basis of settlement documents, receives funds due to the client from the payer for goods (work, services) shipped to his address and credits them to the client’s bank account.

Note!

The main difference between collection and other non-cash payments is that the order to carry out the operation comes from the recipient of the money, and not from the payer.

Collection sides:

• principal (principal) - the party who instructs the bank to process collection and acts as the final recipient of the payment (exporter or seller);
• payer - the person to whom the presentation of documents must be made in accordance with the collection order (importer or buyer);
• remitting bank (seller's bank) - the bank to which the principal entrusted collection processing;
• collecting bank - any bank that is not a remitting bank and participates in the process of processing a collection order (buyer’s bank);
• presenting bank - a collecting bank that presents documents to the payer (buyer's bank).

The collection calculation scheme is shown in Fig. 2.

E. V. Akimova,
auditor

The material is published partially. You can read it in full in the magazine

Non-cash payments began to be used to speed up the turnover of funds and reduce the cash supply.

Their history began in 1775 in Great Britain with the introduction of bills and checks into circulation. Subsequently, each country developed its own characteristics and procedures, and developed certain types of non-cash payments based on the economic situation.

The Civil Code of the Russian Federation (as amended on July 26, 2017) defines non-cash payments as payments made by banks (credit institutions) through the transfer of funds either with the opening of bank accounts or without opening them. Physically, the procedure looks like an entry on an account.

Non-cash payments throughout the world are regulated by law, banking regulations and agreements. They have been developed because they have advantages from the point of view of each participant in economic processes:

• the state can control money circulation;
• the banking system is expanding credit opportunities;
• business entities accelerate the turnover of funds and material resources.

Forms

Credit institutions conduct transactions on customer accounts on the basis of settlement documents, which in essence are:

• order of the payer (bank client) to write off funds from his account and transfer them to the recipient’s account;
• order of the recipient (collector) to write off funds from the account of the payer (bank client) and transfer them to the account indicated by the collector.

Currently, settlement documents are provided either on paper or electronically.

For each type of non-cash payments, certain payment documents are used. In other words, each form has its own document. The following types of non-cash payments are used in Russia:

• payment orders,
• payment requirements,
• checks,
• bills,
• letters of credit,
• collection orders (collection),
• plastic cards,
• electronic money.

The bank client always chooses the form of non-cash payment.

Legal regulation

The rules for conducting non-cash payments are established by the Central Bank of the Russian Federation. Particular attention in regulation is paid to settlements between legal entities.

To make a non-cash payment, a legal entity is required to open a bank account. There is no such requirement for individuals. They can make payments without opening accounts, which is not entirely convenient for constant transfers.

In order for a bank to be able to transfer funds on behalf of or at the request of a client, it must open a correspondent account in its division or in another bank. In addition, each bank opens a correspondent account with the Central Bank for interbank settlements.

Bank clients open for their needs:

• current accounts (commercial enterprises);
• current accounts (budgetary enterprises).

For legal entities that are systematic debtors (tax evaders, etc.), banks open special accounts for non-payers. In such cases, the main accounts are blocked and funds are credited to these additional accounts of defaulters, from which debts are repaid.

Cashless payments- these are settlements (payments) made without the use of cash, that is, by transferring a certain amount from one account of a credit institution to another, which are accompanied by the offset of mutual claims. Banks are intermediaries in such operations, that is, such payments are transferred to their accounts.

This form of payment speeds up the turnover of funds and reduces the amount of cash that is needed for circulation. This form of payment is the most preferable for doing business today.

According to the current legislation, settlements between legal entities, as well as settlements with the participation of citizens related to their business activities, are made by bank transfer.

Settlements between these persons can also be made in cash. But there is an essential condition for this provision: the maximum amount of cash settlements between legal entities under one transaction is equal to 60 thousand rubles.

Thus, if an organization makes cash payments under one agreement, these payments should not exceed 60 thousand rubles. At the same time, she has the opportunity to pay for this transaction by bank transfer, for which no limits have been established. If cash payments are made under several agreements, the maximum amount of cash payments should not exceed 60 thousand rubles. for each contract separately. Therefore, if the contract amount exceeds the specified amount of 60 thousand rubles, the payment must be made in cashless form.

Now let's move on to the types of non-cash payments. You can choose one of the following types of calculations:

• settlements by payment orders;
• settlements under a letter of credit;
• payments by checks;
• collection settlements;
• settlements with payment requirements.

To carry out such calculations, the following payment documents are used, corresponding to each type of such calculations:

• money orders;
• letters of credit;
• checks;
• payment requirements;
• collection orders.

The total period for making non-cash payments should not exceed:

• two operational days within the territory of a subject of the Federation;
• five operational days within the territory of the Russian Federation.

If we talk about the advantages and disadvantages of such payment systems, we can highlight the following provisions:

Pros:

1. Flexibility of payments, since “chains” of transactions with various additional payments can be serviced.
2. Availability of bank documents, i.e. easy provability of calculations.
3. Impossibility of fraud with counterfeit money, “dolls”, etc.
4. Reducing costs associated with the transportation of cash, its accounting and storage;
5. Unlimited period of storage of funds in bank accounts;
6. Lack of a cash register and the need for its maintenance;
7. All cash is subject to mandatory delivery to the Bank after three days from the moment it is received at the cash desk (with the exception of funds for paying employees - salaries, which can be kept in the cash register for no more than 5 days), that is, cash is still subject to mandatory transfer in a non-cash form, so the initial non-cash payment will allow you to avoid making additional transactions with the bank and save time and money.

Minuses:

1. There is a danger of encountering or becoming dependent on the Bank’s “problems”, that is, difficulties or even the impossibility of transferring or withdrawing money from the account.
2. Increase in expenses associated with the appearance of various additional payments to the Bank for transactions performed.
3. A regular cash flow is required to pay for bank services and pay salaries to employees, which is not very convenient for starting small entrepreneurs;
4. Constant interaction with the bank is required, which includes certain costs;

Basically, this type of payment has clear advantages over cash payment, and the disadvantages can be eliminated if you carefully approach the issue of choosing a Bank and work within the framework of current legislation. Good luck!

What is cashless payment? What does non-cash payment mean?

What is cashless payment?

What does non-cash payment mean?

Cashless payments– a payment made without the use of cash, that is, money is credited to the recipient’s Bank account from the payer’s bank account through the bank. Non-cash payments are carried out through the bank, using mutual offsets, clearing settlements, credit cards, checks, bills. The functions that non-cash payments perform: accelerates the circulation of funds, reduces the need for cash when making transactions; reduces cash circulation costs. The non-cash movement of money is difficult to hide from regulatory authorities, therefore the state promotes the growth of the share of non-cash payments in the country's monetary circulation.

To make most non-cash payments, an individual must open a current account with a bank. The bank can make a money transfer on behalf of an individual and without opening an account (this option will be discussed below), with the exception of postal transfers. A current account is opened on the basis of a bank account agreement, which provides for settlement transactions not related to business activities. To open a current account (conclude a bank account agreement), an individual submits the following documents to the bank:

— passport or other document proving identity in accordance with the legislation of the Russian Federation;

— “Card with samples of signatures and seal imprints” of form 0401026 of the All-Russian Classifier of Management Documentation OK 011-93 (hereinafter referred to as f. 0401026), drawn up in the manner established by the Bank of Russia (Instruction of the Central Bank of June 21, 2003 No. 1297-u “On the procedure for issuing cards with samples of signatures and seal impressions");

— other documents provided for by law and/or bank account agreement.

If the data specified by an individual in the bank account agreement changes, he notifies the bank about this in the manner and within the time frame established by the agreement. When changing the last name, first name or patronymic, an individual presents to the bank a new identification document, on the basis of which a new f. card is issued. 0401026.

An individual has the right to grant another individual (trusted person) the right to dispose of funds in his current account on the basis of a power of attorney, which is certified by the bank in the presence of the principal and certified by the bank's seal. The power of attorney can also be certified by a notary. If a power of attorney is used, an additional card f. is provided to the bank. 0401026. The principal can terminate the power of attorney to manage the current account by submitting a corresponding application to the bank.

The bank writes off funds from the current account of an individual by order of the account owner or without his order (for example, by court decision) on the basis of settlement documents within the limits of funds available in the account. If there are no funds in the current account of an individual at the time of debiting the funds, as well as the right to receive a loan, including an overdraft, provided for in an agreement between the bank and the individual, settlement documents are not subject to execution and are returned to payers or collectors in the manner established by Regulation No. 2 -P.

The ability of an individual to make non-cash transfers in foreign currency directly depends on whether such a person is a resident of the Russian Federation for the purposes of currency regulation. In turn, citizens of the Russian Federation are recognized as residents, with the exception of those permanently residing or temporarily staying (on the basis of a work or study visa) in a foreign country for at least a year (subclause “a”, paragraph 6, part 1, article 1 of the Law of December 10, 2003 N 173-FZ).

Cases when non-cash transfers in foreign currency are permitted and prohibited

Transfers in foreign currency between residents and non-residents, as well as between non-residents, are carried out without restrictions (Articles 6, 10 of Law No. 173-FZ).

Transfers in foreign currency between residents are prohibited, except in established cases, including (clauses 12, 13, 17, part 1, article 9 of Law No. 173-FZ):

• transfer from the Russian Federation in favor of resident individuals to their accounts in banks outside the territory of the Russian Federation, subject to restrictions on the amount;
• transfer by a resident in the Russian Federation from a bank account outside the territory of the Russian Federation in favor of resident individuals to their bank accounts in the territory of the Russian Federation;
• transfer from your bank accounts in the territory of the Russian Federation in favor of resident spouses or close relatives to their bank accounts in the territory of the Russian Federation or abroad.

Residents can also make transfers of foreign currency to their own bank accounts both in the Russian Federation and abroad. There are no restrictions on the amount in this case.

Non-cash transfers in foreign currency can be carried out either from an account opened with a bank or without opening such an account.

Non-cash transfers from an account opened with a bank

When making a wire transfer in foreign currency from your account, you need to contact the bank where you have an account and submit certain documents.

So, you will need to present a document proving your identity and provide information about the recipient of the transfer (full name, name and details of the bank in which the recipient has an account, and the recipient’s account number). In addition, you will need to submit documents that the bank may request from you in order to implement currency control, including (Part 4 of Article 12 of Law No. 173-FZ; Clause 1 of Bank of Russia Directive No. 1868-U dated July 20, 2007 ):

1) when making a transfer for an amount exceeding USD 5,000 (or the equivalent at the Bank of Russia exchange rate on the date the funds were written off), information on confirmation of the recipient’s currency and accounting status (that the recipient is a non-resident). Banks independently determine in what form such information should be provided. This could be, for example, a copy of the recipient’s foreign citizen’s passport or an indication of the recipient’s non-resident status in the “Purpose of payment” column of the payment document;

2) when making a transfer to your bank account outside the territory of the Russian Federation - a notification submitted by the resident to the tax authority at the place of his registration about the opening of this account with a mark from the tax authority on its acceptance. This notification is provided only when making the first transfer. In the future it is not required;

3) when making a transfer to your spouse or close relative - documents (copies thereof) confirming the relationship, in particular a citizen’s passport, birth or marriage certificate.

The specified documents are not required if you are making a transfer to your spouse or relative to his account opened in a bank outside the territory of the Russian Federation for an amount not exceeding $5,000 (or the equivalent at the Bank of Russia exchange rate on the date the funds were written off).

Wire transfers without opening an account

Non-cash transfers without opening an account to individuals are carried out through money transfer systems.

To implement them, you need to make sure that there are service points of the selected system in the country and city where the recipient of the money transfer is located. As a rule, service points are banks with which payment systems have contractual relations.

At the payment system service point, you will need to present a document proving your identity and provide information about the recipient of the transfer (full name of the transfer recipient, country, city). After depositing funds into the cashier, you will be given a control code or other transfer identifier. This information will need to be passed on to the recipient of the transfer so that he can receive the funds.

A transfer without opening a bank account is carried out within no more than three working days from the date of provision of cash for such a transfer (Part 5 of Article 5 of the Law of June 27, 2011 N 161-FZ).

When making a transfer from the Russian Federation without opening a bank account through an authorized bank, there is also a restriction on the transfer amount. Thus, a transfer within one business day through one bank cannot exceed an amount equivalent to $5,000 at the Bank of Russia exchange rate on the date of application for the transfer (clause 5, 9, part 3, article 14 of Law No. 173- Federal Law; Directive of the Bank of Russia dated March 30, 2004 N 1412-U).

Note!

When a foreign state introduces bans on payment systems whose operators are registered by the Bank of Russia, a non-cash transfer without opening an account can be carried out from the Russian Federation to such a state if the payment system operators, payment infrastructure service operators, foreign organizations (except for foreign banks and credit organizations), on the basis of agreements with which the translation is made, are under the control of Russian organizations (Parts 1, 2, Article 19.1 of Law No. 161-FZ).

Features of electronic money transfer

Non-cash transfer without opening a bank account is also possible when transferring electronic funds (hereinafter referred to as EMF) using electronic payment systems (for example, WebMoney, Yandex.Money and Qiwi). At the same time, EMF transfers in foreign currency are subject to the requirements of the currency legislation of the Russian Federation (Part 3 of Article 5, Part 24 of Article 7 of Law No. 161-FZ).

Help.Electronic money

Electronic means are those funds that are previously provided by an individual to the EDS operator to fulfill his monetary obligations to third parties and in respect of which this individual has the right to transmit orders exclusively using electronic means of payment (clause 18 of Article 3 of Law N 161-FZ) .

In this case, an individual can provide funds to the e-money operator with or without using a bank account.

Also, funds in his favor can be provided to the EDS operator by organizations or individual entrepreneurs, if such a possibility is provided for in an agreement between an individual and the EDS operator. In turn, the latter creates a record of the amount of funds provided to him (Part 2, 4, Article 7 of Law No. 161-FZ).

The transfer of EDS in favor of their recipients is usually carried out on the basis of an order from an individual - the payer, and in some cases - at the request of EDS recipients. At the same time, EMF payers and recipients can be clients of one or several EMF operators (Parts 7, 8, Article 7 of Law No. 161-FZ).

As a rule, a transfer is carried out by simultaneous acceptance by the e-money operator of the payer’s order, reducing its e-money balance and increasing the recipient’s e-money balance by the amount of the transfer. A transfer using a payment card specially designed for this purpose is carried out within no more than three working days after the EDS operator accepts the payer’s order. A shorter period may be provided for by an agreement between the e-money operator and the payer or by the rules of the payment system. After this, the EDS transfer becomes irrevocable and the payer’s monetary obligations to the EDS recipient are terminated (Clause 26, Article 3, Parts 10, 11, 15, 17, Article 7 of Law No. 161-FZ).

Cashless payments are a popular way of conducting transactions among companies and individual entrepreneurs. The difficulty is that cooperation with a financial institution leads to additional costs, or rather payment for opening an account, performing transactions, and so on. It's no secret that non-cash payments to a current account are faster and cause fewer difficulties. If they want to save money, entrepreneurs often refuse this option. But what is the result of such an action? Are they winning or losing? Let's consider what is better - to work with a current account or abandon it.

Read also -

Payment of taxes

The first thing worth noting is that taxes are paid in cashless form. This is a requirement of the Federal Tax Service, confirmed by current judicial practice. Payments made in cash are often not recognized by the tax service. The Tax Code of the Russian Federation states that an entrepreneur or company must pay taxes on their own money and personally (on their own behalf). If payment is made by bank transfer to a current account, the Federal Tax Service has no reason to find fault. It’s another matter when the payer engages a trusted person or representative (for example, the head of an LLC) to make the payment. In such a situation, the likelihood of litigation is high.

Payments to extra-budgetary funds

Federal Law No. 212, concerning insurance premiums, states that an entrepreneur has the right to make payments with the involvement of a trusted person. Despite the presence of such a clause in the law, extra-budgetary funds require non-cash deposits. An exception to the rules is making payments to individuals through a cashier at the city administration or at the post office.

Cash machine

Non-cash payments to a current account without a cash register for a company is a violation that entails a fine of 50,000 rubles. Many continue to break the law and spend money by bank transfer without using cash registers. Such violators are quickly identified and punished by representatives of the Federal Tax Service.

Compensation of benefits

Employers know that a number of employees are entitled to compensation, for example, due to illness, maternity, and so on. Such payments are made only in cashless form, since the transfer of funds is carried out by government agencies. This means that you cannot do without opening a bank account to conduct business.

Refund

In the activities of an individual entrepreneur or organization, there are situations when the accounting department miscalculated and made extra tax payments or fees, overpaid insurance, or made a mistake in other matters of overpayment. In such a situation, payment is made by bank transfer to a bank account. It is not possible to return the “extra” amount in cash. It is worth noting here that all financial relationships between the budget and the enterprise occur via “bank transfer”.

Acquiring

Buyers are increasingly coming to retail outlets hoping to pay with a plastic card. Here, too, a bank account is required to operate a company or conduct business.

Results

Working without a current account is an opportunity to save on payments to a banking institution. Otherwise, a number of negative aspects arise related to budget transfers, refunds of overpaid funds and taxes. So non-cash payment to a current account is the best solution for individual entrepreneurs and companies that focus on long-term work and development.

Cash has more than a long history. The first examples of cash in the form of coins appeared more than 2.5 thousand years ago in the territory of modern Turkey, in the Lydian state. But coins received widespread circulation around 450 BC in Persia, when King Darius replaced them with skins, metal ingots, shells, livestock, etc., which were usually used as money. Paper money arose almost 800 years after the invention of paper, at the end of the first millennium AD, in China (910), where they received mass circulation.

Today, the term “cash” refers to coins and banknotes that, in accordance with the legislation of the Russian Federation, are issued by the Bank of Russia. The country's Central Bank has the exclusive right to issue cash, and counterfeiting of money is prosecuted in accordance with the Criminal Code of the Russian Federation.

Cash is a means of payment primarily for individuals (citizens) who do not carry out entrepreneurial activities, i.e. for those cases when a person buys something for himself personally. Some large transactions with cash are subject to control (for example, if you bought securities for yourself in the amount of more than 600 thousand rubles and paid in cash).

A significant part of transactions carried out between enterprises and organizations (legal entities) or organizations and citizens when carrying out business activities must be carried out in a non-cash manner.

At the same time, both cash and non-cash money can be used for settlements between legal entities and individuals. At the same time, enterprises conduct cash transactions in accordance with regulatory documents that regulate, among other things, non-cash payments when paying with bank cards, when, after reading the card information, the buyer is issued a receipt.

Unlike cash turnover, non-cash payments are carried out only through authorized credit organizations by issuing a check, collection operation or letter of credit.

Cash and non-cash payments have their advantages and disadvantages. The disadvantages include the fact that many institutions and establishments in our country do not yet support payments to individuals. That is, in most small retail outlets the population cannot buy goods by bank transfer. The number of fraudulent transactions carried out during non-cash card payments does not decrease from year to year. Dishonest waiters in a restaurant, for example, can write off an amount greater than the amount for which the services were provided. ATMs are often equipped with readers that allow fraudsters to steal from cards.

On the other hand, the card allows you to carry large amounts of money with you in the form of an electronic record. If it is lost and timely blocked, nothing happens to the money in the account, unlike lost or damaged coins or banknotes - although the Bank of Russia accepts worn-out and damaged paper funds for exchange under certain conditions.

Russian reality suggests that a person should always have cash with him for small payments. And the farther you are from large cities, the higher the need for cash. However, carrying large sums with you is not always safe (and this is a big drawback of cash), so in addition to coins and paper money, it is better to have a card from a bank that has a wide network of ATMs and branches where you can always withdraw the required amount.