Money and credit - Ivanov VM


4.1. Types of money circulation

Turnover - the movement of money capital in the process of expanded social reproduction, including the movement of money directly to the distribution and exchange of stages. Indirectly serve the production and consumption processes, so the impact on all stages of social reproduction. By the nature of the cash flow it is divided into the finance, credit and currency, and in the form of money, traffic, divided by cash and cashless.

Cash transactions are carried out between enterprises and the public, between individuals as well as small amounts - between enterprises, organizations, institutions. For cash transactions include the payment of cash income enterprises to the population in the form of wages, stipends, pensions, monetary support and donations, revenue from the financial system, and others. Cash transactions between individuals arise, usually in the process of buying and selling of goods, delivery and payment services. Cash for salaries, stipends and cash security servicemen made by banks in terms stipulated by contracts, government decisions and instructions of the NBU. Cash issued to the company's current account by check, on the reverse side of which indicated the purpose of the money withdrawn from the account.

Non-cash money turnover - part of the cash flow, in which the movement of money takes the form of transferring the sums on the accounts at a bank or offset of mutual claims, ie without cash characters... A large portion of the total cash turnover is carried out in non-cash form. This is due to the fact that cashless transactions has significant advantages over the cash, and therefore more effective for society as a whole and for each individual economic entity. First, significantly reduced the social costs of treatment. Second, it creates the necessary conditions for state regulation of money circulation. Third, improving the economic condition of monetary subjects, as accelerated handling of cash, provided a close relationship with their banks and the money market in general. Therefore, all participants of the circulation should be cost-effective to pay for its obligations to the non-cash through banks (with the exception of payments for small amounts).

Cashless payments - cash settlement system, which are carried out without the involvement of cash, ie the transfer of a certain amount from the bank account of the payer to the payee's account or offsetting mutual claims of enterprises and public organizations... The cashless payment system include:

• principles of their organization;

• requirements for the organization;

• forms and methods of calculation;

• priority of payments;

• settlement documents.

Cashless payments are made in accordance with the following principles:

• After release of the goods and services;

• Only through the bank and under its control;

• Only with the consent of the payer;

• subject to availability of funds in the account of the payer or the right to obtain credit.

Organization of non-cash payments must meet the following requirements:

• ensure timely payment for goods and services rendered;

• to create conditions for mutual control of payers and recipients of compliance with the settlement and contract enforcement, as well as for monitoring of banking settlement participants;

• Avoid unplanned reallocation of funds in the settlement process, to promote the convergence of receipt and payment of inventory (TMC).

Methods of non-cash payments are made:

• The transfer of funds from the settlement (current) account of the payer to the payee's account in the bank;

• The offset of mutual claims.

Cashless payments are out of town and local, national and interstate. Under the nonresident understand settlements between suppliers and buyers, who are served by the establishment of banks that are in different locations. Local non-cash payments - is payments between suppliers and buyers, which serves one or various banking institutions, but within the same city.

Depending on the scope of the non-cash payments are divided into two groups:

• calculations for commodity transactions for goods and materials, services provided and work performed;

• calculations for non-commodity transactions (transfer of taxes and other payments to the budget, the receipt and return of credits).

Depending on the nature of the settlement documents distinguish such non-cash transactions:

• payment requests;

• payment orders;

• payment requests-orders;

• checks;

• by a L / C and the bill.

Cashless payments involve compulsory opening of capital accounts in banks. To open an account, the company and the individual meet the requirements of the Law of Ukraine "On Amendments to Some Laws of Ukraine changes to open bank accounts" and Instruction number 3 of the NBU "On the opening of accounts by banks in national and foreign currencies" (adj. 1-5).