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Calculation of cash limit

Calculation of cash limit
To calculate the cash balance on hand, the following indicators will be required:

Cash receipts for goods sold, services rendered or work performed, or revenue in rubles. Revenue is determined on the basis of indicators of the same, last period. If indicators of the previous period are not available for any reason, then planned indicators are used for the calculation.
The accounting period for which the amount of cash receipts is taken into account, or the number of days in working days. According to the law, the settlement period cannot exceed 92 working days.
The period of time between the days of surplus cash to the bank. This period can not be more than seven days.
The cash balance limit is calculated by the formula:

(Revenue / Settlement period) x Period of time between the days of depositing cash in the bank

For example, the revenue of the organization for the same billing period last year amounted to 8,965,652 rubles. In the settlement period 85 working days. The organization donates money to the bank every 4 days.

Thus, the cash balance limit on hand will be 421,913 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 company with the calculated cash limit. Compliance with the cash limit can be automated using the software “1C: Accounting 8”. For this purpose, in this program there is a periodic register “Cash Balance Limit” located in the Cashier menu.
In the register “Cash Balance Limit”, the organization sets the calculated maximum cash balance on hand.

After the cash limit is set, and all the relevant documents are completed, the organization can verify the cash limit compliance automatically. To do this, use the processing “Express check of accounting”, which is in the “Reports” menu.

When you click on the “Run check” button, the program generates a report on errors related to accounting, including the shortcomings in complying with the maximum amount of cash on hand. In addition, the program illustrates the days on which the limit was exceeded and indicates the amount of such excess.

Storage on hand of cash, in excess of the maximum allowable cash balance is not allowed. This fact is considered a violation of cash discipline. Above-limit funds must be deposited into a current account opened with any bank. However, it is not always possible to do this. In order to avoid penalties for non-compliance with the limit, over-limit funds can be given a sub-report, and then made to the cashier as unspent funds. Organizations with large turnover can use the services of collectors. This will avoid the appearance of over-limit cash on hand. It should also be remembered that the legislation provides for the storage of over-limit cash on hand, on payroll days.

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