Cash limit calculation
The cash limit is the maximum amount of cash that can be held at the company’s cash Desk.
The Bank of Russia regulation of 12.10.2011 regulates the procedure for determining the cash balance limit. According to this regulation, each organization is obliged to set a limit on the cash balance and comply with it. Excess funds must be deposited with the Bank. This rule is due to the fact that the legislation provides for the obligation of enterprises and individual entrepreneurs to keep free money in the Bank account.
Each company determines the cash limit on their own. The procedure for calculating the limit and the withdrawn amount of cash balance in the cash register of the enterprise is issued by order or order of the head.
Cash limit calculation
To calculate the cash balance at the cash Desk, the following indicators are required:
Cash receipts for goods sold, services rendered or works performed, or revenue in rubles. Revenue is determined on the basis of similar indicators of the previous period. If the indicators of the previous period are not available for any reason, the planned indicators are used for the calculation.
The calculation period for which cash receipts are taken into account, or the number of days in working days. According to the legislation, the settlement period may not exceed 92 working days.
The period of time between the days of delivery to the Bank of excess funds. This period can not be more than seven days.
The limit of the cash balance is calculated by the formula:
(Sales/billing period) x period of time between the day of Deposit in Bank cash
For example, the revenue of the organization for the same billing period last year was 8 965 652 rubles. In the settlement period of 85 working days. The organization delivers funds to the Bank every 4 days.
Thus, the limit of the cash balance at the cash Desk will be 421913 rubles.
Compliance with the limit
Compliance with the cash limit can be described as a comparison of the cash balance in the cash register of the enterprise with the calculated cash limit. Compliance with the cash limit can be automated using the software product “1C: Accounting 8”. For this purpose, this program has a periodic register “cash balance Limit”, located in the menu “cash”.
In the register “cash balance Limit” the organization sets the calculated maximum cash balance.
After the cash limit is set, and all relevant documents are held, the organization can verify compliance with the cash limit automatically. To do this, use the processing “Express check of accounting”, which is located in the “Reports”menu.
When you click on the “Run check” program generates a report on errors related to accounting, including the shortcomings in compliance with the maximum amount of cash balance in the cash register of the enterprise. In addition, the program illustrates which days were allowed to exceed the limit and indicates the amount of such exceedances.
Storage of cash at the cash Desk in excess of the maximum allowable cash balance is not allowed. This fact is considered a violation of cash discipline. Excess funds must be deposited to a current account opened with any Bank. However, it is not always possible to do it. In order to avoid penalties for non-compliance with the limit, the excess funds can be issued sub-account, and then make to the cashier as unspent funds. Organizations with large turnover can use the services of collectors. This will avoid the appearance of excess cash at the cash Desk. It should also be remembered that the legislation provides for the storage of excess funds in the cash register, on the days of payment of wages.