2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
During the day, banks and other organizations (members of the payment system) accept documents for payment and transfer of funds. During this period, transactions can be made without delay. All actions taken must be reflected in the accounting for off-balance sheet and balance sheet accounts through the preparation of a daily report. An operating day is a period during which there is a transition from one financial state recorded in accounting to another. This is part of the working day of a financial institution, which is dedicated to providing services to clients and is associated with the receipt, execution, control of accounting documents of the bank and clients, their reflection in accounting, the completion of information processing and the formation of a daily balance.
Operating time
Operating time is the period during which bank employees perform banking operations and other transactions. Also under this concept is the time of document circulation and information processing. The duration of operating time in most cases is determined based on the mode of operationbank.
What is a business day in simple terms
How can you convey the essence of this concept in simple words? Most often, a business day means a bank business day plus the time required to complete the main procedures. In most organizations, this period is pretty standard - from 9 to 18 pm. But for some activities (for example, currency exchange), it is limited to 9-15 hours of the day. The start and end times of the banking day are set by the bank's management. All information must be communicated to clients. If a person comes to the company after the end of the trading day, then the transaction or transfer he needs will be carried out only the next day (if it is working).
Start of the day
The time of the beginning and end of the banking day is set by the order or order of the head of the financial institution. During the first working hours, the head or his deputy gives the employees keys that allow them to perform various operations. Then bank employees prepare their jobs: they receive cash, put their signatures in the control book, connect and start the necessary technical equipment.
Due dates for compiling the daily balance
Daily balance is due by 12 noon on the following business day. The consolidated balance sheet must be drawn up before 12 noon on the same day after the registration of the balance sheet for the operations performed. All documentation received during operational hours is subject to registration and reflection on the accounts on the same day. The same operations thatreceived for execution after its completion, are carried out the next day.
End of the day
The end of the banking day is characterized by the following operations:
- Issue all necessary reports (daily, monthly, ten-day, quarterly reports).
- Carrying out relevant documentation in payment.
- Fixing the state of the infobase, creating a copy of it, transferring it to the server.
Post-operative time - what is it?
Post-operation time is the period from the end of the banking day and customer service until the end of the working hours of the bank unit.
All banking organizations have their own settlement and cash time, intended for servicing. For example, a payment day at Sberbank lasts exactly as long as the functioning of electronic systems continues. For any customers today, certain service schedules can be established. And for those who use payment systems, transactions are carried out around the clock.
According to the regulations, Sberbank processes payments issued in accordance with established standards. In particular, payment transactions are carried out on business days, excluding holidays or weekends. Not everyone knows how long an operating day is at Sberbank, so they often find themselves in a difficult situation. To avoid this, you need to know in advance the opening hours in a particular department.
Terms for processing payment receipts at Sberbank
The internal rules of the banking organization establish certain deadlines for processing payment orders:
- In paper form - from 9:00 to 15:00.
- In electronic format - from 09:00 to 17:00. On pre-holiday days and on Fridays, processing is carried out from 09:00 to 16:00.
All instructions regarding payment processing are carried out within 2 days after receipt of the documentation by the bank.
It should be noted that the payment banking day in Sberbank is the time period during which the institution can function. The opening moment of the electronic payment system marks the beginning of the day. As soon as the systems complete their functioning, the payment working day of the bank also stops. During this period of time, various transactions may occur that are within the competence of this financial institution.
Features of processing urgent payments
Such transactions may be considered by a banking institution within a certain period. Payments with the status of "urgent payment" are considered by the financial institution Sberbank instantly. They can be carried out even in cases where the trading day has come to an end, in accordance with the established list of currencies and with a limit on the amount on the bank client's account.
Corporate Exception
It should also be taken into account that Sberbank introduced some innovations for corporate clients and offered themspecial payment processing time. Thanks to this system, people can significantly extend their working hours. Those clients who exchange certain financial documents through the Sberbank Business Online system have the opportunity to carry out such operations from 07:00 to 23:00. In addition, corporate clients have the right to do this on weekends and holidays, which is very convenient.
Also, many corporations offer individual working hours for each client. But the longer the operating day, the more expensive the cost of services.
Thus, the introduction of new information technologies makes it possible to put business on stream, thereby expanding economic boundaries.
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