Cash transactions. Features of their implementation

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Cash transactions are actions related to the receipt and issuance of money from the cash desks of banks, various organizations and companies, which are issued by special credit and debit orders.

This term also includes transactions on stock exchanges, which must be settled until the next day after the transaction, actions with cash, securities, deposits, as well as the repayment of debt or other debt obligations.

The Federal Tax Service draws the attention of individual entrepreneurs to the fact that the cash transactions they carry out must be carried out according to certain rules:

• you need to determine the limit of the cash balance;

• money exceeding this limit must be kept in bank accounts;

• all cash transactions should be processed using credit and debit orders;

• An appropriate cash book must also be maintained.

In banks, the money limit is set according to the following principles:

• circulating cash desks, as well as reserve funds of coins and monetary units in denominations (withpermission of the Bank of Russia). All cash received within one business day must be posted to the appropriate accounts on the same day;

• Territorial banking institutions should take into account the needs of customers for cash for payroll or other needs;

• The limit amount is set at the end of the working day. All funds that exceed it must be transferred to the reserve fund, i.e. withdraw from circulation;

• all duties relating to the storage of funds in the reserve fund and cash settlement centers are assigned to officials - the head, chief accountant and head of the cash register.

For mass customer service, cash transactions are carried out in branches that contain:

• income and expense structures;

• subdivisions that carry out currency exchange and recalculation.

Officers who are responsible for storing valuables must have metal seals and keys to storerooms, as well as stamps. These funds are needed in order to carry out cash transactions properly.

Separate cash desks work in banking institutions to issue cash. In order to carry out settlement cash transactions, the head gives cashiers money in the required amount only against receipt. For wages, money can be issued for three working days on special expense orders.

It is worth noting that the cashier who carries out settlement and cash transactions is prohibited from simultaneously issuingmoney on multiple checks, as well as to conduct any currency transactions in which customers do not deposit funds, but present checks and a cash deposit application at the same time.

It should also be said that when receiving or issuing money, the cashier is obliged to draw up appropriate certificates. At the end of the day, the balance of money, expenditure cash documents, a certificate with a control tape of the calculator are handed over against receipt to the head of the cash register for verification.