Cash turnover, principles of its organization. Organization of money circulation The principles of organization of cash circulation include
Cash flow is a process continuous movement cash banknotes in the sphere of circulation and their performance of the functions of a means of payment and a means of circulation.
Cash turnover is organized on the basis of the following principles:
1) all enterprises must keep cash, except for the established limit, in commercial banks;
2) banks set balance limits on personal money for enterprises;
3) the circulation of cash serves as an object of predictive planning;
4) the management of money circulation is carried out in a centralized manner;
5) the organization of cash circulation aims to ensure the stability, elasticity and economy of monetary circulation;
6) enterprises can receive cash only in banking institutions serving them.
The procedure for the implementation of cash circulation in the territory of the Russian Federation is regulated by the Regulation "On the rules for organizing cash circulation in the territory of the Russian Federation". According to him:
1) cash circulation is carried out with the help of various types of money;
2) the emission and withdrawal of money from circulation is carried out by the Central Bank of the Russian Federation;
3) the Central Bank regulates cash circulation in the Russian Federation;
4) cash settlements between legal entities are carried out in a non-cash manner, and in some cases, cash settlements are allowed within the established limits;
5) for legal entities establish a limit on the balance of cash at the box office;
6) all funds in excess of the limits legal entities are required to hand over to bank institutions.
Cash turnover begins at the RCC. Cash is transferred from reserve funds to working cash desks. From the cash desks, cash is sent to the operating cash desks of commercial banks, most of the cash is issued by the bank to customers - legal entities and individuals. Most of the cash of enterprises is transferred to the population in the form of various types of cash income.
The population also uses cash for mutual settlements, but most of it is spent on paying taxes, rent and utility bills, paying off loans, buying goods and paying for various services, rent payments, paying fines, etc.
The money goes either to the operating cash desks of commercial banks or to the cash desks of enterprises. For each enterprise, limits are set for the balance of cash in their cash desks, and all amounts exceeding the limit must be deposited with a commercial bank. For commercial banks, limits are also set for their turnover cash desks, therefore, in an amount exceeding the limit, they hand over cash to the RCC. The latter also sets a limit on their turnover cash desks, so money in excess of the limit is transferred to reserve funds.
19. Non-cash money turnover and principles of its organization.
Cashless turnover- this is the amount of payments for a certain period of time made without the use of cash by transferring funds to customer accounts in credit institutions or mutual settlements. This turnover is a significant part of the country's money turnover. Non-cash money turnover finds expression in non-cash payments. Cashless payments have an important economic importance in accelerating the turnover of funds, reducing cash in circulation, reducing distribution costs.
Non-cash payments in the economy are organized according to a certain system, which is understood as a set of principles for organizing non-cash payments, requirements for their organization, determined by specific business conditions, as well as forms and methods of payment and related workflow.
Principles of organization of settlements: 1. Settlements are carried out on bank accounts that are opened for clients to store and transfer funds. 2. Payments from accounts must be made by banks by order of their owners in the order of the established order of payments and within the limits of the balance of funds on the account. 3. Freedom of choice by market entities of the forms of non-cash payments and fixing them in business contracts with non-intervention of banks in contractual relations. 4. The principle of urgency and payment means the implementation of settlements strictly on the basis of the terms provided for in economic, credit, insurance contracts, instructions of the Ministry of Finance of the Russian Federation, etc. 5. The principle of security of payment is closely related to the previous one and implies, in order to comply with the urgency of payment, that the payer or his guarantor has liquid funds that can be used to pay off obligations to the recipient of funds.
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Introduction
2.1 Analysis of the methods used to regulate cash circulation by the Central Bank Russian Federation
2.2 Dynamics and structure of cash turnover at the present stage
2.3 The role of settlement and cash centers of the territorial offices of the Bank of Russia in carrying out emission and cash regulation
3. The problem of cash circulation and assessment of development prospects
3.1 The problem of circulation of cash
3.2 Modern tendencies in cash circulation
3.3 Improving the cash circulation methodology
Conclusion
List of used literature
Introduction
Behind last years there have been global changes in world money circulation and the banking community, monetary and financial systems individual countries, in particular, Russia, where market reforms, especially at first, were carried out more intensively in the credit and financial sector than in other segments of the economy.
At present, many problems of the monetary sphere of the Russian economy remain unresolved, and the state of monetary circulation and regulation is far from optimal. In particular, inflation, dollarization, and the share of cash in the money supply remain at a high level; the national currency is strengthening at an excessive rate, crises are repeated, especially banking ones. There are disproportions in the territorial distribution industrial enterprises and credit institutions of Russia with the corresponding redistribution and concentration of the money supply and, as a result, accountability cash flows which reduces competition and encourages monopoly. In the structure of the national credit system, some financial institutions that successfully operate in Western countries have not been formed; insufficiently developed monetary and financial market generally.
The relevance of the research topic is due to the fact that the stable state and stable development of the sphere of monetary circulation and the organization of national monetary circulation are necessary condition economic development. Part of the money turnover is the turnover of cash, which participate in many transactions unchanged, in contrast to the movement monetary unit in non-cash transactions in the form of bank accounts.
The aim of the work is to study the organization of money circulation in the Russian Federation.
Thesis tasks:
Define the concept of cash circulation;
Reveal the essence of cash circulation;
Disclose the procedure for conducting cash transactions;
To reveal the essence of planning and forecasting cash transactions;
Determine the state of cash circulation in Russia at the present stage;
To identify the main problems of the development of cash circulation at the present stage;
Determine the main tasks for the modernization of the management of cash circulation.
The object of research is cash circulation. Today it remains the most important integral part the country's economy and the basis of social stability.
The subject of the study is the Bank of Russia, it organizes cash circulation and manages cash flows, taking into account the needs of the payment turnover, and also monitors the main directions and trends in the development of modern cash circulation in the world.
Timely and complete satisfaction of the needs of the payment turnover in cash are the large-scale goals facing the Bank of Russia in organizing cash circulation and maintaining its uninterrupted functioning. All this makes the topic of this thesis "Organization of cash circulation in the Russian Federation" relevant for consideration.
It also provides factual material according to the monthly theoretical, scientific and practical journal "Money and Credit", which is published by the Central Bank of the Russian Federation. Data from various Internet resources are used: electronic encyclopedias and dictionaries, the website of the Central Bank of the Russian Federation and other electronic sources.
The work used the works of domestic authors on this topic, legislative acts Russian Federation, regulatory documents and methodological developments of the Central Bank of the Russian Federation.
1. Fundamentals of the organization of money circulation in the Russian Federation
1.1 General characteristics of monetary circulation and the history of its occurrence
The form of organization of monetary circulation in the country, which has developed historically and is enshrined in national legislation, is called the monetary system.
Monetary systems were formed in the XVI-XVII centuries. with the emergence and establishment of the capitalist mode of production, although some of their elements appeared in an earlier period. The type of monetary system depends on the form in which the money functions; as a commodity - a universal equivalent or as signs of value.
Depending on the nature of the exchange of signs of value for gold, three types of gold monometallism are distinguished: the gold coin standard, the gold bullion standard and the gold exchange (gold exchange) standard.
The gold-coin standard most corresponded to the requirements of capitalism of the period of free competition, promoted the development of production, the credit system, world trade and the export of capital. This standard is characterized by the following features:
In the internal monetary circulation of the country there is a full-fledged gold coin, gold performs all the functions of money;
Free minting of gold coins for private individuals is allowed;
Defective money in circulation is freely and unlimitedly exchanged for gold;
Allowed free export and import of gold and foreign currency and
The functioning of free gold markets.
The functioning of the gold coin standard required the availability of gold reserves from the central issuing banks, which served as a reserve of monetary circulation, ensured the exchange of banknotes for gold, and were a reserve of world money.
During the First World War, the growth of budget deficits, covering them with loans and the growing issue of money led to an increase in the money supply in circulation, significantly exceeding the gold reserves of emission banks, which threatened free exchange paper money for gold coins. During this period, the gold coin standard ceased to exist in the warring countries, and then in most other countries (except the United States, where it lasted until 1933.).
In the course of the monetary reforms (1924-1929), the return to the gold standard was made in two truncated forms - gold bullion and gold trade standards.
The first ancient Russian monetary units took their name from the commodity equivalents used in the form commodity money. In Russia, "fur" money was used. This is evidenced by the name "kuna", which takes its origin from marten fur. The minting of gold and silver coins in Kievan Rus began in the 10th century. During the Mongol-Tatar yoke, individual Russian principalities minted their own coins. At the same time, the "tenga" was in circulation, from which the name of Russian money originated. In the 13th century, pieces were cut from silver ingots, which were called rubles.
Following the Russian "hryvnias" and "Novgorodians" at the beginning of the 17th century, a stable single coin "kopek" was established in Russia, so named because a horseman with a spear was minted on it. A penny, which weighed 0.68 grams and consisted of pure silver, was at that time a rather valuable coin, therefore, in addition to it, there was a half-penny "money" and a quarter-penny "polushka" in use.
Then the Russian monetary system was replenished with silver altyn, hryvnia, half a ruble, chervonets. But that was already in Peter's time.
Despite the advantages of gold and silver, they also have significant disadvantages, such as their rapid wear. This is especially true for small coins. This led to the need and possibility of replacing them with coins made of another metal (for example, copper). But sometimes, the minting of such defective coins led to disastrous consequences. So, in the history of Russia of the 17th century, the "copper riot" is known, caused by the fact that under Tsar Alexei Mikhailovich, copper coins began to be minted instead of silver money, trying to forcibly give them a silver rate.
Subsequently, large coins in circulation were replaced by bank notes that had no intrinsic value, but replaced the value of the coin indicated on them.
In Russia, the issue of bank notes began in 1769; they circulated in the form of state treasury notes, which had a firmly established rate. Then credit notes were put into circulation, which could be exchanged for metal coins. The Expedition of State Credit Notes received the right to issue, then this right passed to the state bank. During this period, Russian banknotes were almost entirely backed by cash gold, it was allowed to issue banknotes in excess of the changeable gold fund in the amount of no more than one third of it. Crimean War 1853-1856 demanded a large additional issue credit money, and they actually turned into paper money.
After the monetary reform of 1895-1897 until the start of the First World War, ten-ruble and five-ruble gold coins were in circulation.
The formation and development of the first monetary system of the USSR began in the process of implementing the monetary reform of 1922-1924. The monetary unit was declared chervonets, or 10 rubles. The gold content of the chervonets corresponded to the gold content of the pre-revolutionary ten-ruble coin. By the Decree of the Council of People's Commissars of the USSR of October 11, 1922, the monopoly right to issue chervonets as bank notes was granted to the State Bank of the USSR.
However, for the stability of monetary circulation, the People's Commissariat of Finance of the USSR set a limit on the issue right to issue treasury notes. In 1924, it amounted to no more than half of the total amount of bank notes put into circulation. In 1928, the issue limit was increased to 75%, and in 1930 - to 100% of the amount of issued tickets.
The main parameters of the monetary system of the Russian Federation are defined in the Federal Law of February 2, 1990 No. 394-1 "On the Central Bank of the Russian Federation (Bank of Russia)".
1.2 Principles of organizing cash and non-cash payments in modern conditions
Cash circulation is a process of continuous movement of cash (banknotes, treasury notes, change coin). It serves the receipt and expenditure of most of the monetary income of the population.
The sphere of use of cash payments is connected mainly with the realization of the income of the population. Cash payments are made between all economic entities.
In countries with developed market economy and the banking system, the share of cash settlements in the total money turnover does not exceed 3-8%. This is achieved by translating wages workers and employees to bank accounts. Settlements of the population for goods and services are mostly carried out in a non-cash manner using transfers, checks, credit cards.
In Russia, during the transition period to the market, the scope of cash circulation has unreasonably expanded. Reasons for the expansion of cash circulation:
Economic crisis;
Crisis of non-payments;
Cash crisis;
Poorly organized system of interbank settlements;
Calculation slowdown;
Deliberately reducing the profits and incomes of entrepreneurs in order to evade taxes and expand cash payments outside of banks.
Cash circulation in Russia is served by banknotes and metal coins. Cash - credit money that is issued in the order of lending to the economy. The exclusive right to issue (issue) money into circulation belongs to the Central Bank of Russia in connection with its main function - to play the role of the emission center of the country. Its main task is to manage money circulation in order to ensure the stability of the monetary unit (ruble).
It is in cash circulation that a constantly recurring circulation of cash is formed.
The circulation of cash begins at the cash settlement centers (RCC) of the Central Bank of the Russian Federation. Cash is transferred from their reserve funds to the working cash desks, and thus they enter circulation. From the cash desks of the RCC, cash is sent to the operating cash desks of commercial banks. Banks can transfer some of this money to each other on a fee basis, but most of the cash is given to customers. Part of the cash received by the cash desks of organizations is used for settlements among themselves, but most of it is transferred individuals in the form of various types of cash income.
The population also uses cash as settlements among themselves, but most of it goes to pay taxes, fees, insurance payments, utility bills, repay loans, purchase goods, etc.
Cash circulation is organized by the state represented by the Central Bank. For this central bank systematically publishes a document called "The procedure for conducting cash transactions in the national economy."
Cash circulation is organized on the basis of the following principles:
All enterprises and organizations must keep cash in a commercial bank (with the exception of the part established by the limit);
Banks set cash balance limits for enterprises of all forms of ownership;
The circulation of cash serves as an object of predictive planning;
Management of money circulation is carried out in a centralized manner;
Enterprises can receive cash only in bank institutions serving them.
Cashless payments in the Russian Federation are regulated by the following normative documents: Civil Code Russian Federation, Regulations of the Central Bank of October 3, 2002. No. 2-P "On non-cash payments in the Russian Federation" rev. and add. of June 11, 2004 No. 1442., CBR Regulation of April 1, 2003 No. 222-P, rev. and add. dated January 22, 2008 No. 1965-U "On the procedure for making cashless payments with individuals in the Russian Federation."
Participants in the transaction have the right to choose one form of non-cash payments, taking into account specific transactions. The entire settlement system is built in such a way that favorable conditions are created for making payments and accelerating the circulation of funds. The delay in settlements deprives suppliers of sales proceeds, makes it difficult to carry out production and financial tasks. When payments are delayed, buyers receive accounts payable and the most important principles of the organization of finance are violated.
In modern conditions, the following forms of calculation are used:
payment orders;
Letters of credit;
By collection;
And others not contrary to the law.
Based on the current regulation non-cash payments in Russia can be carried out with the help of payment orders, payment requests-orders, checks and letters of credit. The use of one or another form of payment is determined by the agreement between the payer and the recipient of funds. Let's get acquainted with the features of each form of cashless payments used in modern conditions.
Cashless payment is organized on the basis of certain principles.
The principles of organizing calculations are the fundamental beginnings of their implementation. Compliance with the principles in the aggregate makes it possible to ensure that the calculations meet the requirements: timeliness, reliability, efficiency.
Principle legal regime settlements and payments due to the role payment system as the main element of any modern society. The main legislative sources of regulation of settlements include: the Civil Code of the Russian Federation, the Federal Law "On the Central Bank of the Russian Federation" dated April 26, 1995, the Federal Law "On Banks and banking" dated February 3, 1996, the Federal Law "On a transfer and promissory note" dated March 11, 1997, etc.
The principle of making bank accounts. The presence of the latter both with the recipient and the payer is a necessary prerequisite for settlements. Enterprises, organizations, institutions, regardless of their organizational and legal form, are obliged to keep cash in bank institutions on settlement, current, budget accounts. They make payments for material values, services and financial and banking obligations.
Money from account to account is transferred by the bank according to settlement documents received from economic agencies. The Bank credits the amounts received to these accounts, fulfills the orders of enterprises on their transfer and withdrawal from the accounts, and carries out other transactions. banking operations, which are provided banking rules and agreements on the use of one form or another of non-cash payments.
The principle of security of payment assumes that the payer has funds, that is, payments are made at the expense of own funds payers or bank loans. To do this, all payers (enterprises, banks, etc.) must plan receipts, write-offs of funds from accounts, prudently seek the missing resources.
The principle of periodic order of payments. The sequence of payments can be:
Chronological - claims are satisfied in the order in which settlement documents are received by the bank, regardless of the purpose of the payment;
Target - the most important ones are performed first
Payments.
The principle of consent (acceptance) of the payer. This principle is implemented by applying:
Or the relevant payment instrument (cheque, promissory note, payment order), indicating the owner's order to write off funds;
Or a special acceptance of documents issued by the recipients of funds (payment requests-orders, bills of exchange).
The principle of urgency of payment. Settlements are carried out strictly within the terms stipulated in the contracts, in the instructions of the Ministry of Finance, etc. Payment can be made:
Before the start of the trading operation (advance payment);
Immediately after the completion of a trading operation;
After a certain period of time after the completion of a trading operation;
On the terms of a commercial loan (without a promissory note or with a written promissory note).
1.3 Issue of cash and withdrawal from circulation
The issue of money (in international terminology - seigniorage) is an independent category, closely related to the M0 aggregate and reflecting the growth of this aggregate. If the predicted cash turnover is expected to exceed the payments of money over their receipt at the cash desks of banks, then if it is impossible to reduce cash payments issuing money.
The issue of cash is carried out by the Central Bank of the Russian Federation, since it has a monopoly right to issue bank notes. The amount of cash issue was determined on the basis of draft cash plans of banks, i.e. forecasts of their cash turnover. Employees of the Central Bank analyze and forecast the state of money circulation, find out its development trends, predict the need for economic turnover in cash at the macro and micro levels, set target figures for the minimum and maximum limits for the growth of money supply.
Based on these studies, the Central Bank establishes an approximate increase in the money supply in circulation.
The issue of cash is carried out in a decentralized manner. This is due to the fact that the need of commercial banks for money, which requires their additional release into circulation, is constantly changing, because. depends on the need for money of their clients (legal entities and individuals). Obviously, timely delivery of money from the center in such a situation is hardly possible. This is especially true for Russia: due to the vast distances, the delivery of money would take quite a long time, and by the time they arrived at their destination, the need for money there would have already changed. Consequently, in this region, either a surplus or a shortage of cash is formed, as a result of which various problems will arise in the economy.
Therefore, in Russia, cash issuance is carried out by the Central Bank through the system of cash settlement centers (RCC). They are located in various regions of the country and serve the commercial banks located there. The issue of cash in the RCC is carried out through reserve funds and working cash desks.
The main functions of the RCC for issue and cash operations include:
1) Organization and storage of reserve funds of the revolving cash desk and other valuables;
2) Transfer in the prescribed manner of cash from reserve funds to the working cash desk (issue) or vice versa (withdrawal);
3) Reinforcement in due course from their reserve funds banknotes and coin to other reserve funds;
4) Issuance of banknotes and coins to commercial banks;
5) Acceptance from commercial banks to the turnover cash desk of surplus cash;
6) Execution of operations on behalf of the Central Bank;
7) Keeping records and reporting on emission transactions.
The reserve fund of the RCC is a place where banknotes are stored, which can be put into circulation when there is a need for them. These banknotes are not considered money in circulation, because. they are a reserve, therefore, do not move. In order to obtain permission to create these funds, the General Directorate must submit to the Bank of Russia an application for opening reserve funds, as well as a cash deposit passport, which is subject to registration with the Bank of Russia. The basis for the creation of funds is the message of the Bank of Russia to the Main Directorate about the registration of the cash deposit passport.
Through the turnover cash desk of the RCC, cash is directly put into circulation. But at the same time, commercial banks also hand over the money they receive to the cash desk. If the amount of money issued is equal to the amount received from commercial banks, no emission occurs. When the receipt of money exceeds the issuance of them from the circulation cash desk, money is withdrawn from circulation. In this case, the excess amount of money is transferred from the cash desk of the RCC to the reserve fund. The difference between reserve funds and revolving cash is that banknotes and coins are not money in circulation, are stored and accounted for separately from cash revolving cash and serve as a reserve in case of need to reinforce the revolving cash.
The reserve funds of the RCC are managed by the regional departments of the Central Bank. If, during the operation of the banking multiplier, the majority of commercial banks will increase free reserves and, accordingly, their need for cash will increase, and the flow of money into their operating cash desks will not increase, the RCC will be forced to increase the issuance of cash into circulation. To do this, based on the permission of the regional department of the Central Bank, the RCC transfers cash from the reserve fund to the cash desk of the RCC, i.e. performs issuance.
However, when one RCC is issuing, another may at the same time withdraw a similar amount of cash, and their total amount in circulation will not change. The Board of the Central Bank draws up a daily issue balance, which reflects whether the issue of cash has occurred in the country on a given day.
The issue balance of the Bank of Russia is a characteristic of the state of money circulation in the country. The emission balance takes into account the operations of issuing money into circulation and withdrawing it from circulation. Compiled on the basis of debit and credit memos received from the territorial offices of the Bank of Russia. The balance sheet daily reflects the total amount of money invested from the working capital in reserve funds and the support of the cash desk from the funds. The composition of money is taken into account in the balance sheet based on the results of transactions for the month based on confirmations from the territorial institutions of the Bank of Russia about banknotes and coins invested in and withdrawn from the reserve funds in the reporting month, broken down by currency, with a division of banknotes into good and dilapidated.
From the diagram (Appendix 2) it can be seen that cash circulation begins in the cash settlement centers of the Central Bank of the Russian Federation. Cash is transferred from their reserve funds to the working cash desks, thus they enter into circulation. From the cash desks of the RCC, cash is sent to the operating cash desks of commercial banks. Banks can transfer part of this money to each other on a fee basis, but most of the cash is issued to clients - legal entities and individuals (either to the cash desks of enterprises and organizations, or directly to the population). Part of the cash in the cash desks of enterprises and organizations is used for settlements between them, but most of it is transferred to the population in the form of various types of cash income (wages, pensions and benefits, scholarships, insurance compensation, dividends, proceeds from the sale valuable papers etc.).
Consequently, cash is transformed from non-cash, which are on accounts in commercial banks. When non-cash money is issued, as a result of the bank multiplier, cash is also issued.
Withdrawal by the central bank of money from circulation occurs when it sells its assets to business entities or returns loans previously issued to it. At the same time, the money he created is returned to him, and thus, there is a decrease in his debt to transaction partners.
In modern monetary systems, along with central bank money big role play non-cash money of commercial banks. The money of commercial banks includes deposits of the non-banking sector in these banks. These deposits are monetary claims customers to their banks and monetary obligations of banks in relation to the clientele.
The actual release (withdrawal) of non-cash money of a commercial bank into circulation can be discussed only in relation to its operations for the purchase and sale of assets from its customers or when issuing and repaying loans. In these cases, the commercial bank pays its perpetual obligations or repays them.
With regard to commercial banks, we can separately talk about the issue-withdrawal of cash by them in economic turnover associated with credit and cash transactions. When clients receive a cash loan or withdraw cash from their deposit, cash is released into circulation. The bank uses cash balances in its operating cash desk or previously exchanges funds from a deposit at the central bank for its cash - banknotes.
In the latter case, the cash supply is measured by reducing the reserves of the central bank.
Thus, the modern economy is characterized by the regular entry into and withdrawal of money from it in the form of small change, banknotes and termless deposits of the central and commercial banks. The basis of this process is credit operations carried out in connection with the satisfaction of the real needs of the economy in the means of circulation and payment.
The flow of money into the channels of circulation, rushing them into circulation, is called "release of money into circulation." It is a steady process of transfer by banks to legal entities and individuals of certain amounts of money in cash and non-cash forms as a result of credit operations.
1.4 Procedure for cash settlements and control of cash discipline
Cash circulation is the movement of cash in the sphere of circulation and the performance of the functions of a means of payment and a means of circulation.
Cash is used:
For the circulation of goods and services;
For settlements on the payment of wages, bonuses, allowances, pensions;
On payment of insurance indemnities under insurance contracts;
When paying for securities and paying income on them;
According to the payments of the population for public Utilities and so on.
Cash turnover includes the movement of the entire cash supply for a certain period of time between:
The population and legal entities;
Individuals;
Legal entities;
the population and government agencies;
Legal entities and government bodies.
Cash circulation is carried out with the help of various types of money: banknotes, metal coins, other credit instruments- bills, bank bills, checks, credit cards.
The circulation of cash with the participation of citizens not related to entrepreneurial activity is carried out without limiting the amount; between legal entities, as well as with the participation of individuals engaged in entrepreneurial activities - in amounts that do not exceed the amounts established by the Directive of the Central Bank of October 7, 1998 No. 375-U. In all
In other cases, money circulation is carried out only in non-cash form.
The Central Bank of the Russian Federation, in accordance with the law, developed the Regulation on the rules for organizing cash circulation in the territory of the Russian Federation dated January 5, 1998 No. 14-P, which is mandatory for the implementation of territorial offices of Russian banks, credit institutions and their branches in the territory of the Russian Federation. In accordance with this Regulation, organizations, enterprises, institutions, regardless of their organizational and legal form, keep free cash in bank institutions on appropriate accounts on contractual terms.
Cash funds received at the cash desks of enterprises are subject to delivery to banking institutions for subsequent crediting to the accounts of these enterprises. Cash is handed over by enterprises directly to the cash desks of bank institutions or through joint cash desks at enterprises. Cash can be handed over by enterprises on contractual terms through collection services licensed by the Bank of Russia to carry out relevant operations for the collection of cash and other valuables.
Banking institutions accept cash from serviced enterprises in accordance with the procedure established by the Regulations on the Procedure for Conducting Cash Operations in Credit Institutions on the Territory of the Russian Federation dated March 25, 1997. No. 56. The procedure and terms for the delivery of cash are established by the servicing institutions of banks to each enterprise in agreement with their managers, based on the need to accelerate the turnover of money and their timely receipt at the cash desks on the days of the banking institutions.
At the cash desks of enterprises, cash can be kept within the limits set by the banking institutions servicing them in agreement with the heads of these enterprises. The limit on the balance of cash in the cash register is set annually by banking institutions for all enterprises, regardless of the legal form and field of activity, that have a cash desk and carry out cash settlements.
Above the limit, only funds intended for the issuance of salaries, social payments (stipends) are kept - no more than three working days, including the day the money is received from the bank
If the limit is not approved, all proceeds are considered to be over the limit and must be deposited with the bank on a daily basis.
To establish a cash balance limit at the cash desk, an enterprise submits to the bank institution that provides its settlement and cash services a calculation in the form No. For an enterprise that includes subdivisions that do not have self balance and accounts in banking institutions, a single cash balance limit is established taking into account these structural divisions. Cash balance limit structural divisions brought by order of the head of the enterprise.
Cash balance limits for managers and recipients of funds federal budget, who have opened personal accounts with the Federal Treasury, are established by institutions of the Bank of Russia or authorized credit institutions by the Federal Treasury of the Russian Federation, taking into account the indicated administrators and recipients of federal budget funds. The calculation for setting the cash balance limit in this case is submitted by the Federal Treasury bodies, taking into account the administrators and recipients of federal budget funds who have opened personal accounts with the Federal Treasury bodies in the prescribed manner.
The cash balance limit is determined on the basis of the volume of cash turnover of enterprises, taking into account the peculiarities of the mode of its activity, the procedure and terms for depositing cash in bank institutions, ensuring the safety and reducing the counter transportation of valuables. The cash balance limit can be reviewed during the year in the prescribed manner at the reasonable request of the enterprise (in case of changes in the volume of cash turnover, conditions for the delivery of proceeds, etc.), as well as in accordance with the bank account agreement.
Acceptance of cash by enterprises when making settlements with the population is carried out with the obligatory use of cash registers. Cash transactions are formalized in standard interdepartmental forms of primary accounting documentation for enterprises and organizations, which are approved by the State Statistics Committee of the Russian Federation in agreement with the Central Bank of the Russian Federation and the Ministry of Finance of the Russian Federation. Acceptance of cash by the cash desks of enterprises is carried out according to cash receipt orders signed by the chief accountant or a person authorized to do so by a written order of the head of the enterprise. On receipt of money, a receipt is issued to the cash receipt order signed by the chief accountant or a person authorized to do so, and the cashier, certified by the seal (stamp) of the cashier or the imprint of the cash register.
The issuance of cash from the cash desks of enterprises is carried out according to cash orders or duly executed other documents (payrolls (settlement and payment), applications for the issuance of money, invoices, etc.) with the imposition of a stamp on these documents with the details of the cash order. Documents for the issuance of money must be signed by the head, chief accountant of the enterprise or persons authorized to do so. When issuing money by an expense cash order or a document replacing it to an individual, the cashier requires the presentation of a document (passport or other document) proving the identity of the recipient, records the name and number of the document, by whom and when it was issued and selects the receipt of the recipient. A receipt for receiving money can be made by the recipient only with his own hand in ink or a ballpoint pen indicating the amount received: rubles - in words, kopecks - in numbers. When receiving money according to the payment (settlement and payment) statement, the amount is not indicated in words.
All receipts and disbursements of cash by the enterprise are taken into account in cash book. Each enterprise maintains only one cash book, which must be numbered, laced and sealed with a wax or mastic seal. The number of sheets in the cash book is certified by the signatures of the head and chief accountant of the enterprise.
Currently, it is allowed to maintain a cash book using a computer, in which case the sheets of the cash book are stored by the cashier separately for each month. At the end of the calendar year (or as needed) they are booked in chronological order. Total amount sheets for the year is certified by the signatures of the head and chief accountant of the organization, and the book is sealed. Control over the correct maintenance of the cash book is assigned to the chief accountant. The cashier, after receiving or issuing money, writes down the data of the order in the cash book (download Filling in the cash book).
Records are kept in two copies. At the end of the working day, the cashier calculates the results of operations for the day, withdraws the balance of money in the cash register to next number and transfers to the accounting department the second (tear-off) sheet (a copy of the entries in the cash book for the day) with receipts and expenditures cash documents against receipt in the cash book. Thus, the first copy of the sheets remains in the cash book, and the second is torn off daily and handed over to the accounting department. This second, tear-off part of the cash book is called the cashier's report.
Unlike cash orders, corrections can be made in the cash book, but they are certified by the signatures of the cashier and the chief accountant.
To reflect the movement of funds in the Chart of Accounts, account 50 "Cashier" is intended. Since cash is the property of the organization, which means that account 50 is active. The receipt of funds is reflected in the debit of the account, the expense - respectively, on the loan.
Banking institutions, in order to maximize the attraction of cash to their cash desks through the timely and complete collection of cash proceeds from enterprises, at least once every two years, check compliance with the procedure established by the Bank of Russia for conducting cash transactions and working with cash. Enterprises that do not comply with the procedure for conducting cash transactions and working with cash are subject to liability measures provided for by legislative and other legal acts Russian Federation.
The territorial institutions of the Bank of Russia exercise control over the work of banking institutions in organizing cash circulation, compliance by enterprises with the procedure for conducting cash transactions and working with cash.
Prior to the audit, bank employees prepare, on the basis of bank records, data on the amounts and purposes of spending the cash received by enterprises and organizations in the bank in order to check the correctness of accounting and spending on the spot. By general rule bank checks are held at least once every two years (clause 2.14 of the Regulation of the Central Bank of the Russian Federation of January 5, 1998 No. 14-P, hereinafter - Regulation No. 14-P).
As a rule, an unscheduled inspection occurs when violations or suspicious facts are detected. The verification period in most cases is one to two days. According to the rules established by the Central Bank of the Russian Federation, representatives of the servicing bank must themselves come with a check to the organization. But in practice, they often ask the client to bring documents. True, the legislation does not establish liability for failure to submit documents to a credit institution. Therefore, the style of verification is most often determined by agreement between the client and the bank.
Before starting the check, the bank requests a cash book, cashier's reports, advance reports, a register of receipt and expenditure cash orders, payrolls, an order for the appointment of a cashier and an agreement on liability with him, orders for accountable persons. They may also request a checkbook and calculation of the cash limit.
That is, controllers establish the fact of the presence of these documents in the organization and then check the correctness of the data entered into them.
For example, they determine the correspondence of entries in the cash book of the organization about the posting of money received from the bank with the data of the credit organization (in terms of amounts and terms). If there are discrepancies, find out their reasons.
In addition, according to these documents, compliance with the agreed procedure and terms for the delivery of cash proceeds to the bank is checked. The amount of cash received by the cashier for the period under review is specified and compared with the amount of money deposited with the bank. The timeliness of the return to the bank of funds not paid on time for wages, etc. is also checked. During inspections, inspectors often make a remark about careless execution of documents. Often accountants and cashiers forget to put their signature on documents. As a rule, controllers allow such an error to be corrected.
A very common violation is the storage of an employee's personal money at the cash desk of an organization. In principle, civil law does not prohibit this. It is enough for the employer to conclude a storage agreement with the employee, which indicates the transferred amount and period. In addition, such a service must be paid for, since this contract is paid (Article 896 of the Civil Code of the Russian Federation).
However, it should be remembered that clause 30 of the Procedure for conducting cash transactions (approved by the decision of the Board of Directors of the Central Bank of the Russian Federation of September 22, 1993 No. 40) contains a direct ban on keeping money that does not belong to the organization in the cash register. Therefore, if during the check it turns out that the cashier kept personal money at the cash desk, they can be confiscated. These funds will be treated as "unreceived cash". In this case, it will be necessary to prove that the money is personal and not owned by the organization in court.
When checking compliance with the cash limit, banks study source documents organizations (sales receipts, invoices, advance reports, etc.). According to the rules, the amount of cash settlements for one transaction cannot exceed 100,000 rubles. (instruction of the Central Bank of the Russian Federation of June 20, 2007 No. 1843-U). This restriction applies to cash transactions between:
Organizations;
Organization and individual entrepreneur;
Individual entrepreneurs.
The cash settlement limit applies to payments under one agreement. However, there are no time limits set. It follows that the organization:
Cannot pay in cash the entire contract if the price indicated in it exceeds 100,000 rubles. The frequency of payments and the number of payment documents do not matter.;
Can pay in cash for several contracts concluded with one counterparty within one day, even if the total amount under these contracts exceeds 100,000 rubles. The main thing is that for each contract there should not be an excess of the limit;
Can pay in cash the contract in part, that is, an amount not exceeding 100,000 rubles. This will be legal even if the total amount under the contract exceeds the cash limit (the rest can be transferred to the account of the counterparty). This follows from paragraph 1 of the instruction of the Central Bank of the Russian Federation of June 20, 2007 No. 1843-U and the letter of the Central Bank of the Russian Federation of December 4, 2007 No. 190-T.
As practice shows, organizations often violate the maximum amount of cash payments when purchasing assets through accountable persons. The fact is that the cash settlement limit does not apply when issuing accountable amounts to an employee. However, when paying for valuables on behalf of the organization (that is, by proxy), the accountant must comply with it (letter of the Central Bank of the Russian Federation dated December 4, 2007 No. 190-T).
The list of purposes for which cash received at the cash desk of the organization for the goods sold can be spent is closed (instruction of the Central Bank of the Russian Federation dated June 20, 2007 No. 1843-U). To obtain the appropriate permission, the organization must submit an application to the bank, which indicates the purpose of spending. And the bank draws up an order on what needs the company can direct its cash to.
During the audit (by studying the "primary" and accounting data), the bank controls the targeted spending of funds. For violation of cash discipline, administrative liability is provided for in Article 15.1 of the Code of Administrative Offenses of the Russian Federation.
Despite the fact that banks control compliance with the procedure for conducting cash transactions, its employees cannot draw up protocols on violations. The fact is that the consideration of cases of administrative offenses under Article 15.1 of the Code of the Russian Federation is entrusted to tax inspectorates (Article 23.5 of the Code of the Russian Federation on Administrative Offenses). They draw up protocols and impose fines on the basis of information provided by banks.
Cash settlements with other organizations (entrepreneurs) in excess of the established limits;
Not posting (incomplete posting) to the cash desk;
Failure to comply with the procedure for storing free cash;
Accumulation of cash at the cash desk in excess of the established limits.
The amount of the fine is:
For officials - from 4000 to 5000 rubles;
For legal entities - from 40,000 to 50,000 rubles.
Responsibility for non-targeted expenses from the cash desk is not provided for by administrative legislation.
After two months from the date of the offense, it is impossible to bring to responsibility for non-compliance with cash discipline (clause 1, article 4.5 of the Code of Administrative Offenses of the Russian Federation).
In addition, the tax inspectorate is not entitled to fine a seller organization that has accepted cash from a legal entity in an amount exceeding 100,000 rubles.
The subject of the offense in this situation is the party to the contract that pays for the goods (works, services) received.
In contracts of sale (supply, paid services, etc.), such is the buyer (customer). Therefore, only him can be held liable for exceeding the limit of cash payments.
Upon completion of the audit, a certificate is drawn up on the results of the audit of compliance by the enterprise with the procedure for working with cash in the form No. 0408026 (Appendix 8 to Regulation No. 14-P), which is signed by the head and Chief Accountant organization, as well as a representative of the bank.
If during the audit of the organization no violations were revealed, the certificate is usually issued in two copies: for the bank and for the client. If violations of cash discipline are found, then the document is drawn up in three copies - one of them is intended for tax office at the place of registration of the organization. If the client has no objections, he signs all copies of the certificate.
The Bank reviews the results of the audit reflected in this document within three days. Then they are approved by the chairman of the board of the bank. Only then the organization receives the third copy of the certificate, the second one remains in the bank, and the first one is sent to the tax authorities.
2. The current state of cash circulation in Russia
2.2 Analysis of the methods used to regulate cash circulation by the Central Bank of the Russian Federation
The central bank influences the circulation of money through the market using the market mechanism.
The objects of influence are:
the volume of money supply in cash and non-cash forms;
volume of demand;
loan price.
The possibility of influencing the money supply is provided to the central bank by combining the subject of money emission in its cash and non-cash forms and the direct subject of regulation. Firstly, the monopoly on the issue of banknotes provides a basis for control over the cash component of money circulation, and secondly, the special role of the central bank in the formation of credit resources of the banking system as a whole creates the basis for determining the possible volume of bank loans. In modern conditions, the predominance of the deposit part of money circulation increases the importance of regulating the volume of supply of bank loans by the central bank. The regulation of the demand for money by the central bank is carried out for the same reason, primarily through the regulation of the conditions for granting loans by the central bank, which indirectly determine the conditions for granting loans by the banking system.
The choice of specific monetary policy instruments is carried out taking into account the characteristics of the national financial system, in particular, the position of banks in it, the degree of development of money market instruments, the degree of inclusion of the money market in the integration process. The adequacy of measures to regulate monetary circulation to these parameters is ensured by their constant evolution. The evolution of instruments for regulating monetary circulation following a change, for example, in the object of regulation is by no means automatic, but the same mechanism of efficiency gives it a coercive character.
Thus, changes in the banking system change the types of institutions, operations subject to regulation, as well as the channels through which the relevant ones actively use such an instrument of monetary policy as required reserves. The operation of this instrument is based on the mechanism of the influence of the banking system on the money supply through the banking multiplier. If the Central Bank increases the required reserve ratio, then this leads to a reduction in the excess reserves of banks and to a multiplicative decrease in the money supply; with a decrease in the required reserve ratio, a multiplicative expansion of the money supply occurs. Reserve requirements are set to limit credit opportunities credit institutions and maintaining a certain level of money supply in circulation. cash circulation cash
In accordance with Article 25 of the Federal Law "On Banks and Banking Activity", a credit institution is obliged to comply with the required reserve ratios deposited with the Bank of Russia. The amount of required reserves, in accordance with Article 38 of the Federal Law "On the Central Bank of the Russian Federation", as a percentage of the obligations of a credit institution, as well as the procedure for depositing them with the Bank of Russia, are established by the Board of Directors. The required reserve ratios may not exceed 20 percent of a credit institution's liabilities. The amount of funds to be reserved is determined monthly and compared with the amount already transferred. Deviations must be settled within 2 working days.
The Bank of Russia and its territorial branches ensure control over the timeliness and completeness of depositing required reserves by credit institutions. This was largely facilitated by the introduction of an operational five-day (and for a number of indicators daily), as well as monthly reporting on the timeliness and completeness of the formation of required reserves and the use of this reporting for prompt decision-making aimed at strict compliance current Regulations on required reserves.
Credit institutions that violate the established procedure for the formation of required reserves, including those that allow underpayment to required reserves, are fined, and other measures of influence are applied to them, up to the revocation of a banking license.
An important instrument of monetary policy are operations on open market. By buying or selling Treasury securities on the open market, the Central Bank can either inject reserves into the government's credit system or withdraw them from there.
When the Central Bank tries to moderate the growth of the money supply, it resorts to the sale of the government bonds it has at its disposal. The latter are transferred to private owners, and the money received as a result of such an operation is withdrawn from circulation.
As a rule, when selling government securities, the Central Bank sets preferential rates at a price below the market, trying to attract as many people as possible to purchase these securities. In turn, the redemption of these securities can be carried out by the state in advance deadlines at a predetermined price or at a market price. Or the state undertakes to buy previously issued securities at an agreed price, but with the condition of indexation.
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Cash circulation is the movement of cash - banknotes and coins - in the sphere of circulation and their performance of the functions of a means of payment and circulation Eriashvili N.D. Financial right. M.: UNITI-Dana, 2001. S. 528. In this case, economic circulation uses banknotes transferred by one entity to another for goods, works and services or in other cases provided for by law (for example, fines).
Cash is most often used in the retail circulation of goods, works and services, as well as for settlements on the payment of wages, bonuses, allowances, pensions, insurance indemnities under insurance contracts, when paying for securities and paying income on them, for household payments for utilities. services.
The movement of cash money supply mainly occurs in the sphere of monetary relations with the participation of individuals who pay in cash for purchased goods, consumed works or services, and also with their help fulfill their obligations of various legal nature to public entities (state, municipality).
Despite the steady downward trend in cash turnover, all participants in the economic life of society are involved in cash transactions to one degree or another. Even in developed Western economies, cash circulation continues to exist, although in such countries the volume of non-cash circulation is several times higher than cash circulation.
Cash circulation in the Russian Federation is carried out on the basis of federal laws "On the Central Bank of the Russian Federation (Bank of Russia)" Federal Law of July 10, 2002 No. 86-FZ "On the Central Bank of the Russian Federation (Bank of Russia)" // SZ RF. 2002. No. 28. Art. 2790., “On banks and banking activities” Federal Law of December 2, 1990 No. 395-1 “On banks and banking activities” // Gazette of the Congress of People's Deputies and the Supreme Council of the Russian Federation. 1990. No. 27. Art. 357; SZ RF. 1996. No. 6. Art. 492; Federal Law of July 10, 2002 No. 86-FZ “On the Central Bank of the Russian Federation (Bank of Russia)” // СЗ RF. 2002. No. 28. Art. 2790. 2001. No. 26. Art. 2586, Civil Code of the Russian Federation Civil Code of the Russian Federation (Part One) dated November 30, 1994 No. 51-FZ // СЗ RF. 1994. No. 32. Art. 3301; Civil Code of the Russian Federation (Part Two) dated November 26, 1996 No. 14-FZ // СЗ RF. 1996. No. 5. Art. 410. and the Regulation of January 5, 1998 No. 14-P “On the rules for organizing cash circulation in the territory of the Russian Federation”, developed in accordance with them (as amended on October 31, 2002) Regulation of January 5, 1998 No. 14-P "On the rules for organizing cash circulation in the territory of the Russian Federation", ed. dated October 31, 2002 (approved by the Board of Directors of the Bank of Russia on December 19, 1997, minutes No. 47) // Bulletin of the Bank of Russia. 1998. No. 1; 2002. November 6., which is mandatory for the territorial institutions of the Bank of Russia, cash settlement centers, credit institutions and their branches, including institutions savings bank Russian Federation, as well as organizations, enterprises and institutions on the territory of Russia. Detailing the main provisions enshrined in these regulations, is carried out at the sub-legislative level, primarily through the adoption of acts of the Central Bank of the Russian Federation, whose competence includes the organization and management of cash circulation.
Cash banknotes in the Russian Federation are used quite widely. Despite the state's interest in minimizing cash circulation, the vast majority of payments in Russia involving individuals are still made in cash. In the current Russian legislation there are no restrictions on the use of cash national currency to make payments, provided that at least one party to the transaction (usually the payer) is an individual. According to Art. 861 of the Civil Code of the Russian Federation Civil Code of the Russian Federation (part one) dated November 30, 1994 No. 51-FZ // СЗ RF. 1994. No. 32. Art. 3301., all settlements with the participation of citizens, not related to their implementation entrepreneurial activity, can be made in cash without limiting the amount.
It is worth noting that the use of cash in the issuance of wages has significantly decreased in recent years with the introduction and spread in large Russian cities and financial and industrial centers of the practice of opening "salary" bank cards. However, receiving wages by transferring non-cash funds to a bank card account only reduces the involvement of employers in cash circulation, reduces their cash transactions, but has almost no effect on the number of cash in circulation, since an employee who received a salary in the form bank transfer, in most cases, will then carry out a completely legal “cashing out” of money through the appropriate bank or ATM, and spending the earned funds will take place in the usual and traditional cash form. Consequently, the main goal of minimizing cash turnover - effective and efficient regulation of the amount of money in circulation - is not achieved.
A tangible reduction in the volume of cash turnover could be expected if not only the payment of wages, but also its spending was carried out mainly in non-cash form. However, the reduction of cash transactions of legal entities (private and public) facilitates and reduces the work government agencies and their agents who control compliance with the rules for the circulation of national currency in cash. Therefore, of course, it is worth recognizing that the general stable positive trend in Russian society towards the spread of non-cash forms settlements involving individuals and the transfer of salaries to bank cards stimulates this process.
Probably, we should also expect a forced increase in non-cash payments in the field of payment for utilities, services for the provision telephone connection population, electricity, etc. The introduction by banks from June 2010 of commission fees when accepting payments for utility services provided should encourage the population to make payments through accounts with Sberbank or the Bank of Moscow using bank cards of these credit institutions, since the commission interest rate in this case, either significantly lower or not charged.
At the same time, the payment of pensions, benefits and other social benefits to individuals is still mainly produced in cash. And, since the paying party, as a rule, is a commercial legal entity, a state institution or a public authority, it can be argued that not only individuals, but also legal entities and public authorities are involved in cash circulation in Russia.
In accordance with paragraph 1 of Art. 75 of the Constitution of the Russian Federation and art. 27 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" the official monetary unit (currency) of the Russian Federation is the ruble. The introduction on the territory of the country of other banknotes and the issuance of monetary surrogates are prohibited.
The following are recognized as official banknotes in the Russian Federation:
bank notes (banknotes) in denominations of 10, 50, 100, 500, 1000, 5000 rubles;
metal coins of denominations of 1, 5, 10, 50 kopecks. and 1, 2, 5, 10 rubles.
The law defines the basic principles of the organization of money circulation.
The official ratio between the ruble and gold or others precious metals not installed.
Banknotes (cash notes) and coins of the Bank of Russia are the only legal remedy payment in Russia. Their forgery and illegal manufacture are punishable by law. Banknotes and coins of the Central Bank of the Russian Federation are its unconditional obligations and are secured by all its assets. Banknotes and coins of the Bank of Russia are required to be accepted at face value for all types of payments, for crediting to accounts, deposits and for transfers throughout the Russian Federation.
Money circulation is organized on the basis of the following principles:
1. Centralization organization and regulation of monetary circulation. The Central Bank has the exclusive prerogative to organize and regulate the movement of cash through all channels of circulation and between all subjects. Such centralization makes it possible to achieve the stability of monetary circulation, to carry it out in close connection with ensuring the overall stability of the national currency, its purchasing power.
2. Elasticity and economy money circulation. Cash and non-cash money have a single credit basis and therefore are in close relationship, easily transfer into each other. This relationship allows you to shift the boundaries between cash and non-cash money turnover, and allows you to achieve savings by replacing expensive cash with cheaper non-cash money.
3. The complexity of the organization of money circulation. Designed to make money management more economical and convenient.
4. Regularity and uninterrupted provision of economic entities and the population with cash in accordance with their real economic needs.
5. Regulation of procedures for performing cash transactions. Cash transactions of the following business entities are subject to regulation: a) banks and other credit institutions; b) Russian legal entities, including communications enterprises; c) Russian legal entities accepting cash payments directly from the public; d) non-residents of the Russian Federation.
The issue of cash is carried out by the Bank of Russia together with its main departments. To this end, the Bank of Russia has set up cash settlement centers (RCCs) at its main departments.
In order to organize cash circulation in the territory of the Russian Federation, the following functions are assigned to the Bank of Russia:
* forecasting and organization of production, transportation and storage of banknotes and coins, creation of their reserve funds;
* establishment of rules for the storage, transportation and collection of cash for banks;
* establishing signs of the solvency of banknotes and the procedure for replacing damaged banknotes and coins, as well as their destruction;
* Determining the procedure for conducting cash transactions of banks;
* Ensuring the stability of the ruble;
* development and implementation of a single monetary policy;
* monopoly implementation of the issue of the presence of money and the organization of their circulation.
Organizations, enterprises, institutions, regardless of the organizational and legal form, keep free funds in banking institutions on the appropriate accounts on contractual terms.
Cash funds received at the cash desks of enterprises are subject to delivery to banking institutions for subsequent crediting to the accounts of these enterprises.
The procedure and terms for the delivery of cash are established by the servicing institutions of banks to each enterprise in agreement with their managers, based on the need to accelerate the turnover of money and their timely receipt at the cash desks on the days of the banking institutions.
Cash desks of enterprises can keep cash within the limits set by the banking institutions servicing them in agreement with the heads of these enterprises.
The limit on the balance of cash in the cash register is set annually by banking institutions for all enterprises, regardless of the legal form and field of activity, that have a cash desk and carry out cash settlements.
Calculations of the expected receipts of cash in the cash desks of banks and their issuance are made quarterly with distribution by months. The results of cash turnover in terms of income and expenditure are reported to the RCC, in which the correspondent account of the bank is opened for 14 days. before the start of the forecast quarter.
Settlement and cash centers make forecasts of cash turnover in terms of income and expenditure and issue result in general for the banks served on the basis of an analysis of the turnover of cash passing through their cash desks and reports received from banks about the expected turnover of cash. Calculations are carried out quarterly with distribution by months and for 7 days. before the beginning of the quarter are reported to the territorial office of the Bank of Russia.
Forecast calculations of the expected emission of money are used by the RCC when drawing up applications for supporting the circulation cash desk.
Forecast cash turnover for the coming quarter in the region on receipt at the cash desks of bank institutions and their issuance, the issue result is reported by the territorial institutions of the Bank of Russia for information to the Department of Regulation of Money Circulation of the Central Bank of the Russian Federation for 3 days. before the start of the forecast quarter.
Forecast calculations of the issue of money are taken into account by the territorial branches of the Bank of Russia when developing measures to organize cash circulation in the region, as well as when drawing up plans for the delivery of cash to the reserve funds of cash settlement centers.
Cash turnover- the movement of cash in the sphere of circulation and their performance of the functions of a means of payment and a means of circulation. It's part of the money supply equal to the sum of all payments made in cash for a certain period of time, this is a process of continuous circulation of cash banknotes (banknotes, treasury notes, change coins). This turnover serves the receipt and expenditure of most of the monetary income of the population. In Russian reality, cash also serves most of the economic relations of legal entities, especially private entrepreneurs.
Cash is used:
- for the implementation of the circulation of goods and services;
– for settlements on the payment of wages and equivalent payments;
– to pay for securities and pay income on them;
- for payments of the population for public services. Cash turnover in the Russian Federation is organized by the state represented by the Central Bank.
Acceptance and disbursement of cash cash settlement centers at the territorial main departments of the Bank of Russia, which form a revolving cash desk for this purpose, as well as reserve funds. Reserve funds banknotes and coins represent a stock of banknotes not issued in circulation for the regulation of cash resources.
Cash is issued into circulation by the Bank of Russia on the basis of an issuance permit - a document that gives the Bank of Russia the right to support the circulation cash at the expense of reserve funds of banknotes and coins. This document is issued by the Board of the Bank of Russia within the issuance directive, i.e. e. the maximum issue of money into circulation, established by the Government of the Russian Federation.
An important role in stabilizing money circulation in Russia was played by the Regulation “On the Rules for Organizing Cash Circulation on the Territory of the Russian Federation”, approved by the Bank of Russia, which is mandatory for the territorial offices of the Bank of Russia, cash settlement centers, credit institutions and their branches, including institutions of the Savings Bank Russian Federation, as well as organizations, enterprises and institutions on the territory of the Russian Federation.
Basic principles of organizing cash circulation in the Russian Federation are as follows:
– all enterprises and organizations must keep cash in commercial banks (with the exception of the amount of the limit established servicing bank);
- banks set cash balance limits for enterprises of all forms of ownership;
- above the limit, cash can be kept at enterprises for the issuance of funds for wages, social payments for no more than three days;
– circulation of cash serves as an object of predictive planning;
- management of money circulation is carried out in a centralized manner;
- the organization of cash circulation aims to ensure the stability, elasticity and economy of monetary circulation. The territorial institutions of the Bank of Russia control the work of banking institutions in organizing cash circulation, compliance by enterprises with the procedure for conducting cash transactions and working with cash in accordance with the above Regulation.
1. Monopoly circulation of banknotes in rubles on the territory of the Russian Federation, i.e. the ruble is legal tender and means of payment. On the territory of the Russian Federation, on the basis of a license from the Central Bank of the Russian Federation, foreign currency has limited circulation.
2. The principle of the unity of the cash register - this means that all enterprises, regardless of the form of ownership and having cash receipts, are required to deposit and store cash in a bank account. To do this, there is a collection service, which allows you to ensure the timeliness of receipt of money and the safety of cash.
3. Compliance with the rules of conducting cash transactions - this means compliance with cash discipline. All enterprises must comply with the rules for receiving money, keeping money, issuing money, accounting and reporting, depositing money in a bank. Cash is used strictly according to intended purpose. You can keep cash in the cash desk of the enterprise only within the limit. From the cash desk of the enterprise, money is issued on the basis of expenditure documents, which are signed by the director (manager) and the chief accountant. The head of the enterprise is obliged to ensure the safety of money in the cash register.
4. Planning the country's monetary circulation - this means that the state must plan and regulate money supply in circulation. Paper money is not self-regulating, so the state must properly plan and regulate the amount of cash in circulation.
5. Emission discipline and denomination composition must be observed when issuing cash banknotes into circulation.
6. Establishment of a certain exchange rate of the ruble against foreign currencies.
The organization of cash circulation is regulated by the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" and the Regulations of the Bank of Russia "On the procedure for conducting cash transactions with banknotes and coins of the Bank of Russia in the territory of the Russian Federation" dated 12.10.2011. No. 373-P.
3. Law of currency
One of the principles of the organization of money circulation is the planning and regulation of the money supply in circulation, which is carried out in accordance with the law of money circulation.
The Essence of the Law: the amount of cash in circulation should be directly proportional to the sum of prices of goods and services sold in the country and inversely proportional to the number of revolutions of the monetary unit,
or the more goods and services, the more cash is needed for circulation, the faster money turns around, the less money is needed for circulation.
åPCT KD - the amount of cash in circulation
KD \u003d åTsT - the sum of the prices of all goods sold and
About services in the country
O - the number of revolutions of the monetary unit
The number of revolutions of the monetary unit or the rate of turnover is determined by dividing the total amount of money received by the bank by the average amount of cash in circulation for the previous billing period.
The following factors influence the rate of turnover of a monetary unit:
1) the frequency of payments of money to the population;
2) the structure of consumer demand, i.e. there should be both expensive and inexpensive goods;
3) methods of keeping savings by the population.
Thus, compliance with the requirements of the law of money circulation allows you to regulate the money supply and ensure the stability of money.
The sustainability of paper money- this is the stability or increase in the purchasing power of the monetary unit.
For example: for a certain amount of money you purchase a certain amount of goods. If this ratio is maintained over a long period, then the money is stable.
The following factors influence the stability of money:
1) release of goods and services into circulation, which increases the stability of money;
2) observance of the law of monetary circulation;
3) the level of prices for goods and services; if prices are stable or falling, then the stability of money increases;
4) the presence of a gold reserve in the country, which is a reserve for increasing the mass of commodities;
5) stability exchange rate ruble, which contributes to the stability of money.
Consequently, the stability of money is determined by the influence of relevant factors and the degree of state intervention in the economy, in the regulation of money circulation.