In accounting practice, cash and cashless payments are perhaps one of the most extensive areas of work. On how competently, accurately, in a timely manner they are carried out, the whole quality of accounting largely depends.
The category “forms of non-cash payments” means the procedure established by law and workflow procedures that reflect non-cash payment transactions. The establishment of specific forms is carried out by the Central Bank of the Russian Federation, which regulates them in the following categories:
- Settlements related to bank transfers;
- documented letters of credit;
- settlements made using plastic cards issued by banks and other institutions authorized to do so;
- Settlements made using checks.
Consider these forms of cashless payments in more detail.
Settlements related to the execution of a bank transfer represent the totality of the envisaged sequential operations that are carried out in the event that the subject transfers payment orders to the bank. Based on these instructions, the bank transfers money to the beneficiary's account. The beneficiary in this transaction is the bank in which the accounts of the specific recipient of the money transfer are located, and which is determined as the beneficiary. This procedure ends with the acceptance of the bank - receipt of a payment order sent by the sending bank. In the case when the sender's account and the beneficiary's account are located in the same banking institution, they coincide in one person. Distinguish between credit and debit bank transfers.
Such forms of cashless payments, as settlements on documentary letters of credit, provide for participation in them:
- an entity that submits to the bank a request for the opening of a letter of credit - the applicant;
- the banking institution that opens this letter of credit - the issuing bank;
- beneficiary - a banking institution in whose favor funds are allocated;
- a bank that is involved in the transfer operation to the beneficiary - the advising bank.
Letters of credit, and depending on whether they provide for changes in their content or cancellation, are irrevocable and revocable. Accordingly, the revocation can be changed even if the beneficiary is not notified. In contrast, irrevocable is an obligation that cannot be amended and canceled if the parties have not received the official consent. When conducting transactions in this way, it is assumed that any letter of credit is initially irrevocable, unless another condition characterizing its status is specified in its text.
Settlements through checks represent such forms of cashless payments, in which a check is understood as a fixed form security, which indicates the order of the drawer to carry out the operation of transferring a specific amount to the check holder. These payments are for the most part carried out by entrepreneurs and sole proprietors, who are mainly check holders, as well as individuals who act as check drawers under this procedure.
Settlements using currently very common plastic cards provide that such a card is a legitimate payment instrument, with which holders are able to make settlements and receive cash. Such operations provide for the existence of unified unified systems, the structure of which is made up of banks that issue plastic cards and record their owners.
To reflect the types of operations considered, non-cash payments are recorded. This accounting is part of the established form of accounting.