Now there are 2 forms of payments: cash and cashless. Each of them has its advantages and disadvantages. What is cashless payment? This is the most convenient method of conducting settlements by various stakeholders. Moreover, they are carried out quickly, and also there are no restrictions in conducting cash transactions. Therefore, this method is chosen by many companies. Settlements with the help of credit institutions are considered cheaper than accepting banknotes and coins.
The concept
What is cashless payment? This is a payment format made using bank accounts. It is convenient to use for legal entities, entrepreneurs and citizens. Non-cash payments are made with the help of banking and credit institutions that have licenses to perform such operations. Without it, work cannot be carried out.
If they talk about what cashless payments are, then they assume the movement of funds on accounts that belong to participants in transactions. Write-off and crediting is carried out in electronic form. At the end of the day, the account holder receives an extract on it, which indicates the balance at the beginning and end of the day, as well as receipts and expenditures. This is necessary to control cash flows. This is precisely the answer to the question of what is cashless payment.
What regulates this calculation?
Cashless payments are regulated by 2 documents:
- Civil Code of the Russian Federation. Chapter 46 “Settlements” outlines the main provisions on the forms of cashless circulation.
- Regulation on the implementation of money transfers No. 383-P, approved on June 19, 2012 by the Bank of Russia. The document contains a description of non-cash forms, documentation requirements.
There is another document approved by the Bank of Russia - Regulation on the issue of payment cards dated December 24, 2004 No. 266-P. It indicates the procedure for acquiring - card payments for goods and services. It is available to all citizens.
Features
According to the rules of these documents, cashless payments are made. Cash withdrawal form. This is due to the following reasons:
- Settlements to accounts are rarely determined by the time of the operation, geography.
- These services are cheaper.
- Companies benefit from such settlements, since they are faced with more requirements for registration, organization and accounting compared to cash circulation.
Many start-up companies that do not want to face fines choose cashless payments. They are used by large companies with experience. Buyers also benefit from cashless payments. The account carries out operations quickly and conveniently. It is enough to have a payment card with you.
Payments for these operations are not made. Non-cash payments are also beneficial for the state, since money circulation is monitored, and a decrease in the amount of cash in circulation reduces inflation. According to Bank of Russia Regulation No. 383-P, there are several forms of settlement.
Money orders
A document is created with an instruction for the payer's funds to transfer the indicated amount. Transfer is carried out on time to the person indicated in the order. This implementation of cashless payments is considered one of the simple and traditional.
Valid order 10 days excluding the day of drawing up. There can be any form of payment, even to ordinary citizens. The downside is that if there is an error, it delays the payment or sends it to the wrong recipient.
Letter of credit
This is a special account used for settlements on operations that require bank intermediation.A letter of credit is the order of the payer to the bank on the transfer of money to its recipient with the fulfillment of special conditions, for example, the delivery of goods.
This form allows you to perform a secure transaction. But a letter of credit is expensive. The disadvantages include its isolation from the bank account agreement. A bank may be considered an executor and issuer.
Collection orders and collection
Bank transfer in Russia can be performed with collection orders. These calculations are made with the availability of the claimant the right to present claims to the payer's account. Such rights are prescribed by law or contract.
Collection is of a demanding nature, that is, the receiver for collection presents the bank-holder of the payer's account with the necessary information about the debtor, his obligation. The debtor learns about writing off money after it is withdrawn.
Check books
This method is considered cashless, as it involves the debit of money from the account of the drawer to the account of the check holder or the provision of cash to him. The calculation is carried out only when the drawer has the required amount, and if the bearer of the check has confirmed his identity.
Direct debit
Non-cash payments are transferred due to the requirements of the recipient. For the transfer, you must have an agreement with the payer and his acceptance for the implementation of this operation. Operations are performed according to the rules of the national payment system and with a card.
Electronic money
By this type of calculation, a citizen gives the operator money to conduct operations, both from and without a personal account, and from the accounts of institutions and entrepreneurs. But this is only done when there is such a right between the parties. Entrepreneurs and organizations can use the funds of their accounts.
The principles of cashless payments
Cashless payments are based on the following principles:
- Legality. Operations are regulated by law and are carried out only within its framework.
- Sufficiency of funds. The execution of operations is ensured by the necessary amount.
- Acceptance. This means that without the consent or notification of the account holder, money cannot be debited.
- Conducting operations under the contract. The Bank operates under the current agreement.
- Urgency of payment. Funds must be transferred for a specific time period.
- Freedom of choice. Citizens can choose any type of cashless payment.
Carrying out
There is a procedure for cashless payments that everyone needs to follow. They are implemented in the presence of an account drawn up under the contract. But the law requires operations to be carried out without opening it. This is due when making payments to ordinary citizens whose transfers are not related to entrepreneurial activity. For settlements, you need to open an account with a bank or other organization that has a license to carry out such operations from the Bank of Russia.
To make transfers open:
- Current accounts. Used by ordinary citizens to make transfers.
- Estimated. They are opened by organizations, entrepreneurs and citizens who have private practice. Used for commercial work.
- Budgetary. Needed to conduct operations with budget money. They are opened by legal entities.
- Correspondent. Used by banking and credit institutions.
- Deposits Accounts are opened to extract available funds.
- Special accounts. Used for certain operations.
Accounts may be opened in rubles and foreign currency.
Accounting principles
Institutions apply account 51 “Real accounts”, where analytics is built for each current account. All operations are recorded on primary documents, for example, on payment orders. And operations of special accounts are reflected in account 55 “Special bank accounts”.
Entrepreneurs do not use the chart of accounts, but record transactions in books of account. The registers calculate the tax base.Confirmation of non-cash transactions are payment orders, collection, memorial warrants. Citizens control funds based on account statements.
The penalty for settlement transactions is provided for in Chapter 15 of the Code of Administrative Offenses of the Russian Federation. Moreover, this applies to account holders, as well as to credit organizations. For example, payment agents pay 40-50 thousand rubles due to disruption in working with a special account. If the bank has violated the time for transferring money to the budget from the taxpayer’s account, then up to 5 thousand rubles will be exacted from the bank official. When the rules of cashless payments are followed, it will be one of the most convenient.