Cash and cashless cash flow. Cashless cash flow: concept, forms, principles, structure

Within the framework of commodity-money relations, payment operations are performed when providing services, making purchase and sale transactions, satisfying various claims, fulfilling obligations, distributing and redistributing financial resources. Their complex forms cash and cashless cash flow. Consider its features.

General information

Cashless cash flow in Russia accounts for 80-90% of all financial transactions. It involves making payments by transferring funds to accounts. Bcashless cash flow mediates such business areas as selling products, providing services, performing work, repaying and obtaining loans, paying and spending actual incomes. Billing relationships are currently being improved. Cash and cashless cash flow undergoing certain changes. Recently, there has been an increase in cash flows on accounts. At the same time, there is a mutual and close relationship between non-cash and cash spheres of money circulation. Funds are constantly moving from one sector to another.

Finance functions

Cash turnover is the movement of funds in non-cash and cash forms, serving the sale of products, non-commodity payments, as well as business transactions. In the modern economy, finances implement the following main tasks:

1. They act as a medium of exchange. Money serves as an intermediary in the exchange of goods. They move towards products during their sale and factors of production during their acquisition.
2. Finance is a unit of calculation. They provide an opportunity to assess not only the value of goods, but also the national production volume, the economic situation of the country.
3. Money acts as a means of accumulating wealth. They are more convenient to store than some products, and generate income by placing them in financial institutions.

Features of state regulation

Organization of cash and non-cash circulation involves the development of such a state policy that would allow to maintain a balance in the financial market. Given the above functions, the main direction of state regulation is the development of measures to maintain the necessary amount of funds in free use. This prevents inflation - overflow of the payment sector with paper signs that are losing their purchasing power and provoking a price increase.

Organization of cash and non-cash circulation based on production. A huge number of sales transactions forms a continuous process of exchange of goods. Money allows you to change the scheme of natural circulation "goods-goods" to a more universal model of "goods-money-goods." The use of finance allows you to effectively make exchange operations both in terms of saving time, and in terms of expanding the freedom and opportunities of economic entities.

Cash circulation: cashless cash flow

It represents the movement of value through the movement of funds in the accounts of financial institutions, as well as offsetting the fulfillment of mutual requirements. In practice, different payment methods are used. forms. Cashless cash flow can be carried out on behalf of, letter of credit, checks, cards, for collection.The relevant documents are approved by the Central Bank and are used in accordance with established rules.

The basis of non-cash circulation are interbank financial transactions. They are carried out through the RCC created by the Central Bank. Transactions can be performed on correspondent accounts opened by financial institutions to each other on the basis of agreements. Cashless cash flow regulated by the central bank.

Normative base

As one of the key legal acts governing cashless cash turnover of the Russian Federation, Regulation No. 271. stands. It regulates the execution of payment transactions in the country. According to the document, cash payments and cashless cash flow between banking and other financial and credit institutions are carried out through the RCC Central Bank. A correspondent account is opened for conducting payment transactions. Its maintenance is carried out by the appropriate settlement center. Banking institutions are required to ensure timely receipt of funds in a correspondent account. Regulation and mediation in payment transactions between financial and credit legal entities is the prerogative of the Central Bank.

Cashless cash flow: principles

Currently, the formation of the financial sector of the economy is based on a number of rules. The following principles of cashless cash flow organization:

1. Enterprises of any type of ownership are required to keep funds in bank accounts. It is allowed to keep small amounts of cash at the box office within the limits.
2. The bulk of payment transactions should be through a bank.
3. The requirement for the calculation must be set either before the shipment of the product, or immediately after it. It is worth noting that in crisis conditions, prepayment is increasingly becoming a condition of delivery. Often the amount of the advance is 100% of the agreed amount.
4. Payment for products and services received is made by the banking institution solely with the consent of the person served.
5. Forms of non-cash payment transactions are selected by enterprises on their own.

The implementation of these rules helps to maintain the legitimacy of payment transactions.

Specificity

Considering cashless cash flow concept, it should be noted its importance for a market economy. Performing operations using accounts allows you to create banking resources, establish credit relations, control the activities of enterprises. In addition, the costs of servicing payments are significantly reduced. In developed countries, about 80% of the total cash turnover is non-cash payments. The remaining share is made up of payment transactions using banknotes and coins.

In Russia, the ratio is different - 60% and 40%, respectively. Most of the operations, as mentioned above, are associated with the exchange of goods, the provision of services, the production of work. At the same time, non-cash settlements are carried out with an extrabudgetary fund, a budget, etc.

Nuance

In the framework of non-cash circulation, money performs a payment function. This is due to the fact that movements in the accounts are not determined by the time the values ​​move. Repayment of obligations is carried out after their occurrence. When offsetting claims on bank accounts, only credit or debit balances are reflected, which are fully repaid. The amount of credited money is included in the cashless turnover.

Payment mechanism

Cashless cash flow structure as follows:

1. Payments in the non-financial sector. Operations are carried out between enterprises.
2. Payments of the financial sector - between banking institutions.

In the latter case cashless cash flow system includes operations:

1. Through the institutions of the Central Bank through the opening of correspondent accounts.These operations account for approximately 60%.
2. Credit institutions using mutual correspondent accounts of nostro and loro. These operations account for approximately 10%.
3. By clearing. They are carried out with the help of non-governmental settlement centers. They account for only 0.2%.
4. Using interbranch settlement accounts. These operations make up about 30%.
5. In the personal sector. Such operations are carried out by the population using payment cards, checks.

Cashless cash flowThus, it is carried out through specialized institutions, with the help of information, communication, software and hardware, tools, procedures, and is regulated by legal norms that ensure payments are made between participants in financial relations.

Accounts

Cashless payments are made by crediting and debiting funds. An individual or an enterprise opens an account - deposit, currency, loan, current or other. Commercial banks provide cash management services. The account is opened by enterprises that have an independent balance sheet and operate in accordance with the payment procedure. For their structural divisions subaccounts and current accounts are created. Each company opens one or more (in different banks) accounts.

Documents

To open an account, the company provides:

1. Statement. It is drawn up in the prescribed form.
2. Notarized foundation documents.
3. Certificate of registration with the Federal Tax Service.
4. Card with print samples and signatures of authorized persons.
5. Documents confirming the authority of the entities indicated in the card.

Non-residents should additionally provide extracts from the banking / trade register that determine their status, according to the legislation of their states, a copy of the permission of the national Central Bank. These documents are translated into Russian, certified by a notary and confirmed by the embassy of the Russian Federation or the corresponding country.

Financial relations

They include:

1. Participants calculations. They are, in particular, buyers, suppliers.
2. Objects of operations. They are products, work, currency, financial requirements.
3. Institutions making payments. These include banks, including the Central Bank, clearing centers, etc.
4. Intermediaries - guarantors, factoring companies, etc.

In the settlement relationship, there are two participants if the recipient of funds and the supplier, payer and buyer coincide in one person. If not, then there may be different options. For example:

1. The provider is not the recipient of the funds.
2. The consignee acts as a payer, but the funds go to the benefit of third parties.
3. The payer is not the consignee and the third party.

Classification of operations

It is carried out on various grounds:

1. Depending on the participants. According to this criterion, the financial (banks) and non-financial sectors are distinguished. The first operation is called interbank, in the second - inter-farm.
2. Depending on the objects. On this basis, transactions can be commodity or non-commodity (taxes, payments on bills, loans).
3. Depending on the time of payment. Transactions can be scheduled, long-term, urgent, past due, deferred, advanced, etc. In the latter case, credit relations arise. They are served by bills. This is a fairly convenient form of short-term lending, especially in trade with a temporary lack of money.
4. By payment method. The full amount can be written off from the account (gross operation), the offset of the requirements is clearing, the balance is written off.
5. According to the form of payments. Transfers, letter of credit, collection, etc. can be made.

Transactions also differ in the payment instruments used to make them. In practice, the following tools are used:

1. Credit transfers. They are payment orders about transfers (or requirements-orders).
2. Debit transfers. These include checks, collection instructions for debiting, bills of exchange.
3. Intermediate tools. When making payments, credit and debit transfers (plastic cards, letters of credit) can be used.

Write-off order

It is established by Article 855 of the Civil Code. If there is enough money in the account to satisfy the requirements of all creditors, the debiting is done according to calendar priority. If funds are insufficient, then:

1. The first to satisfy the requirements for IL related to compensation for harm to health / life, as well as the recovery of alimony.
2. Secondly, funds are written off on writ of execution, which provides for the transfer / issue of funds for the payment of severance pay and salaries to citizens working under a contract (employment contract), remuneration to the authors of products of intellectual activity.
3. Third are satisfied the requirements for the deduction of salaries, contributions to the PFR, FSS, MHIF.
4. In the fourth turn, funds are written off to pay off liabilities to the budget, extra-budgetary funds (except for those listed above).
5. Fifth, other requirements are satisfied.
6. The last funds are debited for other payment documents according to calendar priority.

findings

The economy of any country involves complex interactions of many business entities. The basis of these relations are payments, through which a variety of needs are met, obligations are repaid. Money turnover is a complex of all settlement operations, mediating the movement of value between all agents in the domestic and foreign economic sphere. Finance acts as a means of payment. Prevailing today is cashless cash flow.

Cash flow control

Several rules have been developed, following which provides supervision of the movement of money, prevents their irrational spending. These include:

1. Separation of control functions and responsibilities. At enterprises, the tasks associated with the issuance of permits for operations, accounting, storage of funds should be carried out by different employees.
2. Careful selection of staff working with money. Persons who are entrusted with the accounting and storage of finances, execution of operations, monetary documents must undergo a special check. It is necessary to obtain confirmation of their decency and honesty, sufficient training.
3. Compliance with the procedure for documentation. All cash and bank papers are drawn up without corrections. Incorrectly executed documents are subject to destruction.
4. Compliance with the rules of storage of money.
5. Conducting a weekly audit of bank statement transactions.

Conclusion

In cash circulation, different types of money are used:

1. Banknotes
2. Paper money.
3. Changeable coins.
4. Credit cards, checks, bills, etc.

Today, there is still a tendency to accumulate funds. However, gradually the population realizes that keeping a large amount of cash at home is impractical, and in some cases dangerous. Given the economic situation, people are increasingly turning to banking institutions. The banking system is considered the beginning of the circuit of money, cashless payments. Its most important task is the creation of payment instruments. Non-cash transactions in many cases acquire a credit nature, since there is a certain time gap between the beginning and the end of payment.

The mass of financial resources is divided into two counter-moving flows. Moreover, their speed is not the same. Banking institutions actively issue money, and debtors return funds more slowly. As a result, the amount of funds begins to increase. In the field of credit and financial policy, competent management of flows, volume of loans, and also the exchange rate is of particular importance.Institutions that regulate cash and non-cash circulation of money constantly develop a variety of effective methods, carry out continuous monitoring of the situation, research trends in the direction of flows, and analyze transactions conducted by business entities.