Accounting of operations on the current account

In order for the bank to account for operations on a settlement account of a specific legal entity, it must open this account. The settlement account in the right to acquire any enterprise that is in the status of a legal entity and has its own legal address and independent balance.

Accounting operations on the settlement account is carried out after receiving the state registration of the newly created enterprise, because the bulk of settlement transactions in the business area refers to the non-cash turnover that is carried out by the banking system. In this case, business entities must provide the selected bank with a specific list of documents that the bank requires. First of all, you should write an application for its opening, which expresses the client's desire to make settlements with counterparties in a particular bank. To confirm your status, you must present a certificate of state registration of a legal entity. A copy of the documents reflecting the constituent policy must be certified by a notary. Each bank needs to check the legality of the established enterprise and its honesty before the state, so an extract from the tax authority is required. The head of the company selects several people who will subsequently use the account at their own discretion. As a rule, such include the director of the enterprise, his first deputy and the person holding the position of chief accountant.

Accounting for banking transactions is carried out on the basis of payment documents submitted to the bank, at the expense of which the withdrawal of money from the buyer's account to the seller's account or the issuance of cash. Suspension of transactions on accounts occurs if there is no amount on it which is necessary for the banks to follow the instructions of the client, and stagnation continues until the account is replenished or until the legal entity takes a loan from the bank due to a temporary shortage of available resources.

As mentioned above, the account for operations on the settlement account is made on the basis of payment documents, the most common of which are letters of credit, checks, claims and instructions, announcements for a cash payment. The letter of credit is created in order to guarantee payment for the delivered products. To do this, the bank opens a separate account, which reserves the amount specified in the credit, and upon completion of the transaction transfers it to the supplier's account. If the check books or ads are intended for the movement of cash, then the payment order is called the instruction to the servicing bank to withdraw from its settlement account a specific amount and transfer it to the account specified in the document. The check, in fact, the same document, only contains an indication of the transfer of the cash to the bearer. The announcement for a cash payment speaks for itself and is used at the time of placing banknotes and coins at the bank's cash desk.

Accounting operations on the current account is carried out on the basis of a bank statement on the account. The periodicity of its issuance is established individually with each client and fixed in a written agreement between the bank and the business entity. This document in the accounting department is used as a register for the preparation of analytical reports and is considered primary information. In support of the veracity of the transactions specified in the transaction, the legal entity is provided with payment documents, on the basis of which the debits were made or credited. And since any documents must be accepted by the bank's client, there should not be any questions to the bank account. Under the acceptance of payment documents is understood the expression of consent to the conduct of an operation with the customer's account.

Each bank forms its own statement form, but in any case it must contain the main registers. For example, such as the number of the bank account or the amount of the balance on it, which was indicated at the time of the issuance of the previous statement.