Various types of settlements are carried out between the parties to the property relationship or with the participation of any third parties, or more precisely, a credit institution. Today, such procedures are fully regulated by various norms of industry law, and first of all, this applies to the financial and civil ones, which together form an integrated institution.
To date, there are a wide variety of types of calculations, but the two most widely used are the most widespread. These are cashless and check. Let's consider them in more detail.
Cashless
Non-cash money circulation is a certain amount of payments that are made by transferring money through bank accounts in the form of a standard account record.
This procedure has the following advantages:
- the ability to provide the most effective control over money circulation;
- significant expansion of credit opportunities available to the traditional banking system;
- significant acceleration of cash and material resources.
It is worth noting that the value of such calculations is quite large, since in the first place they ensure the concentration of resources within the bank. Temporarily free finance of various companies, which are currently stored inside a certain bank, is one of the available credit sources. It is also worth noting that these types of calculations contribute to the normalization of the circulation of funds in the modern national economy, which is also an important factor.
A clear distinction between cash and non-cash turnover allows you to create conditions that could maximize the planning of money circulation. The constant expansion of this sphere helps to determine the maximum amount of emissions, as well as the further withdrawal of cash from circulation.
Principles
There are several basic principles that govern these types of settlements with suppliers and contractors, as well as any other persons:
- legal regime of payments and settlements;
- settlements through bank accounts;
- maintaining the liquidity level at the value at which continuous payments can be ensured;
- the consent to the payment by the payer;
- the principle of urgency of ongoing procedures;
- control by each of the participants of the operations for the correctness of their performance, as well as for compliance with pre-established provisions on their procedure;
- property liability of each person for compliance with the conditions established by the concluded agreement.
Accounts
In order to use these types of settlements with suppliers and contractors, as well as with other persons, banks must open specialized correspondent accounts with other organizations. In addition, for such operations, each bank must have an additional correspondent account in the Central Bank of the Russian Federation.
After that, clients of the institution have the opportunity to use a wide variety of types and forms of payments, and at the same time they get the opportunity to open any of the following accounts:
- Estimated. In the predominant majority of cases, it is opened by various commercial organizations and enterprises operating in accordance with the principle of self-sufficiency. If several such accounts are opened at the same time, then in this case one of them is distinguished as a “main activity account”.
- Current. It is most often opened by enterprises, institutions, organizations or legal entities that are financed from the budget. In particular, we are talking about non-profit organizations like schools, institutes, etc.
- For legal entities and organizations that are systematic debtors to the tax office, opens tax payer special account, which is added to existing ones. It should be noted that all types and forms of settlements on previous accounts cease, and all revenues begin to be reflected only on the new one, since thanks to them tax debts will be repaid.
Write-off
The write-off can be carried out by order of the owner or without it in situations provided by applicable law, and in the latter case, all operations are conducted in an indisputable manner. It can also be carried out between the bank and the payer, or between the payer and the recipient.
This procedure assumes that all types and forms of settlement of the organization are carried out within the balance of the cash account. But if the bank and the client conclude a loan agreement, then the first one fully undertakes to pay payment documents within certain limits if the person has no money left.
Documents
Banks conduct various operations, based only on relevant documentation.
The papers used for various types of settlements with suppliers and other persons are:
- The payer's order (which may be the bank itself or its client) to write off a certain amount of money from your account with its further transfer to the recipient.
- The recipient's order to write off funds from the payer's personal account with further transfer of this amount to the account indicated by the recipient.
It should be noted that the documents used for various calculations of the enterprise (the types do not matter) can be executed on paper or in electronic form. We list several main types of settlement documents:
- money orders;
- Checks
- collection order;
- letter of credit;
- electronic payments;
- payment requirements errands.
On paper, everything is made out on specialized forms of documentation that are included in the OKUD. It is worth noting that those papers on which various types of organization settlements are carried out can be accepted for execution by the bank only if they fully comply with standardized requirements, as a result of which the following information should be contained in them:
- name;
- number and date;
- name of the payer and his bank;
- name of the recipient.
For the full implementation of the settlement procedures, documents must be printed in several copies at once, depending on the needs of the participants in the operations. The first copy must be signed by authorized officials who have the right to manage bank accounts and have a special print of the seal. Write-off of funds can be carried out only on the basis of the primary copy of securities, while the second is a standard copy.
Standard types of settlements are carried out after receipt of all documentation within one operational day, while their validity period is only ten days except for the date of its signing, and if desired, the client can withdraw the provided papers.
Forms
There are several main categories that the basic nature of the calculations provides. Customers of the bank choose their own types and forms of operations in the process of signing contracts. In accordance with applicable law, the following forms of cashless payment are provided:
- by check;
- for collection;
- by letter of credit;
- payment orders.
The concept and types of settlements are chosen by customers independently and are considered in advance in the agreements that they conclude with their counterparties.
Check
Checks are securities in which the payer instructs his bank to pay the specified amount to the holder. Depending on individual factors, a wide variety of types and types of such documents can be used.
Types of Checks
Today it is customary to divide checks into two main varieties - cash and settlement.
The first is a document that is used to pay its holder a certain amount in cash at the bank, for example, for wages, travel expenses, all kinds of household needs or the acquisition of necessary products. At the same time, settlement checks are used for cashless payments. This document has the established form and contains a written unconditional order from the payer to his bank that he must transfer a certain amount of money from his account to the account indicated by the holder. Just like standard payment order, such documents are executed by the payer. The main difference here is that the payer transfers it to the company, that is, to the recipient of the paid amount at the time of the business transaction, which then can present it to your bank to receive funds.
There are also several types of checks:
- bearer;
- order;
- registered.
Each of them can be used when cash or bank transfer is carried out. The concept, types, forms of checks we examined above. Such documents are selected by the payer depending on how he is going to pay with their holder, as well as on some other features.
Requisites
Checks can be used during any type of settlement. Quite often, credit organizations issue their own checks, which are intended for cashless payments, and are used by customers of issuing banks, and various interbank payments can be made with their help.
Registration of checks should be carried out on the basis of the established form. In accordance with the current legislation, a separate list of details is determined, which must contain the correctly drawn up check, while its form is already chosen exclusively by the credit institution.
Such documents must contain the mandatory details that are established by the second part of the Civil Code of the Russian Federation, while it may also contain additional information determined by the specifics of modern banking activities, as well as the specifics of tax legislation. In particular, the above papers should contain the following information:
- name;
- an order to pay a certain financial amount;
- name of the payer indicating the specific account from which the specified amount will be paid;
- indication of the currency in which the payment will be made;
- Indication of the date, as well as the exact place of compilation of this document;
- signature of the drawer.
If the document does not contain any of the above details, then it immediately automatically loses its power. It should be noted that the check may not indicate the place of its preparation, and in this case it will be considered as a document signed at the location of the drawer.
In the process of performing check settlements, the parties enter into a special agreement between themselves, which establishes the exact procedure for opening and further maintaining accounts for such operations. Also, special methods and terms are stipulated in which the necessary information must be transmitted, the procedure for reinforcing the client's check account, and the obligations of each of the parties.
Each bank develops internal rules for conducting check payments, the unique contents of the check form, payment terms, basic payment terms, subtleties of registration, and a host of other features.
How is payment made?
After the document is submitted to the bank of the check holder for collection to pay the necessary funds, the procedure for presenting the check for payment is drawn up. The funds are credited to the collected check only after they are transferred from the payer's account, unless otherwise provided by the established agreement between the bank and the check holder. The person submitting such a document does not have the right to withdraw the check until the time limit for its presentation has expired.
The payer must make sure in advance by any means available to him that the received document is really authentic. The procedure for compensation for losses arising from payment by the payer of a stolen, lost or forged check is established in accordance with the current legislation of the Russian Federation.
You can also file a protest, which is drawn up even before the deadline for presenting the check expires. If the document is submitted on the last day of this period, then in this case, the protest can ultimately be drawn up on the next business day. It is worth noting that the check holder must inform his drawer and endorser of the absence of payment within two business days that follow the day of the protest.
Thus, the main types of settlements can significantly simplify the payment procedure and make it publicly available.
