Has the right not to set a cash limit. How to calculate the cash limit and what it is
From June 1, 2014, a new one is in effect in accordance with the Directive of the Central Bank of the Russian Federation dated June 1, 2014 No. 3210-U. He recommends an example of calculating the balance limit. The example shows the calculation of the cash balance of the limit.
The procedure for conducting cash transactions applies to:
- for any legal entities;
- for legal entities that have switched to .
Individual entrepreneurs and small businesses may not set a cash balance limit.
Individual entrepreneurs and small businesses may not set a cash limit. Those. keep any amount of money in the cash register.
Maintain a cash book electronically for free
Cash balance limit
To conduct cash transactions, the organization sets a cash balance limit (hereinafter referred to as the cash register limit)
The cash balance limit is the maximum allowable amount of cash that can be kept in the cash register at the end of the working day.
How to recalculate the cash limit
All companies, except small ones, still have the obligation to comply with the limit. The formulas for its calculation have not changed either. But now enterprises have a choice - to calculate the limit based on cash revenue or based on cash expenses (clause 2 of Directive No. 3210-U). In other words, a company that has cash inflows can use a formula tied to the amount of cash spent to calculate it. Moreover, previously only companies that had no cash proceeds could use it.
If the company does not set a limit, it is considered zero, and any amount of cash in the cash register is considered over-limit. The maximum fine for this is 50,000 rubles.
It turns out that you can calculate the cash limit using two formulas, choose a more profitable option and approve a new increased limit. So, if the company’s cash revenue is insignificant, it is more profitable to set a limit based on the amount of expenses rather than income.
At the same time, for companies that do not have cash flows, the new order does not change anything. After all, these organizations will not be able to use the formula tied to income in any case.
The cash limit must be set in rubles without kopecks. The rules have not changed in this part. But the new Directive is silent on what rules to round the total amount if it is in rubles and kopecks. Therefore, it remains to focus on the explanations of the Federal Tax Service of Russia on the old cash procedure. It follows from them that the limit must be rounded according to the rules of mathematics (letter of the Federal Tax Service of Russia dated March 6, 2014 No. ED-4-2/4116@). That is, an amount less than 50 kopecks should be discarded, and an amount of 50 kopecks or more should be rounded to the nearest ruble. Rounding guidelines are provided above.
The company has the right to approve a new cash limit for any period, not necessarily for a year, and issue it. Or you may not indicate the period during which the limit is valid. Then you will not need to track the validity period of the cash limit at the cash desk and periodically re-approve it.
If you decide to recalculate the limit using a more favorable formula, attach an appendix with a breakdown of the calculation to the new order. Then during the audit you will not need to remember where the final amount of the limit came from and prove to the tax authorities that it was calculated without errors.
How to calculate the cash balance limit in the cash register of a newly created organization
If the organization was created recently, then determine the limit using a formula based on the expected cash proceeds, and in its absence, the expected volume of cash disbursement. This procedure follows from paragraphs 1 and 2 of the appendix to the instruction of the Bank of Russia dated March 11, 2014 No. 3210-U.
Example 1: How to calculate the cash limit if there is revenue
To calculate the limit, the company chose the period from January 27 to April 14, 2014 (55 working days). The right to independently choose the period for calculating the limit gives. During this period, cash revenue was 287,500 rubles. Costs paid by accountables and other cash expenses (except salaries) amount to RUB 550,700. The company deposits its proceeds to the bank every three days.
The size of the limit based on cash proceeds is equal to:
RUB 15,682 (RUB 287,500: 55 days x 3 days).
The limit amount based on cash expenses was:
RUB 30,038 (RUB 550,700: 55 days x 3 days)
In this case, it is more profitable for the company to set a limit based on out-of-pocket expenses.
Example 2: How to calculate the cash limit in the absence of revenue
The billing period for which the cash balance limit is determined can be taken arbitrarily. This could be the period:
- which precedes the calculation (for example, calculate the limit for the third quarter based on data for the second quarter of the current year);
- in which the receipt of cash was maximum (for example, make the calculation based on the data of the fourth quarter of the previous year, in which there were maximum receipts of revenue);
- similar for previous years (for example, calculate the limit for the third quarter of 2014 based on the indicators of the third quarter of 2013).
In the billing period, include all days of work, but not more than 92 working days. If an entrepreneur or organization works on weekends and non-working holidays, then also include these days in the calculation period to calculate the limit. (clause 2 of the appendix to the instruction of the Bank of Russia dated March 11, 2014 No. 3210-U.)
The resulting limit value can be rounded to full rubles (letter of the Bank of Russia dated September 24, 2012 No. 36-3/1876, Federal Tax Service of Russia dated March 6, 2014 No. ED-4-2/4116).
Gazprommetall LLC purchases metal from the population. Cash is withdrawn from the bank account every three days. The cash balance limit is calculated based on accounting data for January, February, March of the previous year.
The company has a five-day work week. Therefore, the billing period is 56 working days (15 days + 19 days + 22 days).
The turnover on the credit of account 50 “Cashier”, excluding payments to employees, amounted to 2,800,000 rubles:
- in January – 960,000 rubles;
- in February – 800,000 rubles;
- in March – 1,040,000 rubles.
Acceptable limit of cash balance at the cash register: RUB 150,000. (RUB 2,800,000: 56 days × 3 days).
Validity period of the cash balance limit
Directive N 3210-U does not contain the period for which the cash balance limit at the cash desk should be set, as well as cases of its change.
According to Bank of Russia specialists, set out in Letter No. 36-3/25 dated January 15, 2012, the cash balance limit can be revised as necessary, for example, in the event of a change in cash receipts for goods sold, work performed, services provided or in case of changes in the volume of cash disbursement.
| ADDITIONAL LINKS on the topic |
From 03/11/2014 No. 3210-U “On the procedure for conducting cash transactions by legal entities and the simplified procedure for conducting cash transactions and small businesses.”
Regardless of whether you change the formula for calculating your limit or not, we recommend issuing a new order establishing a cash limit. An example of it is shown below. After all, formally you determined the previous limits according to the old rules, but they have become invalid. This means that there is no longer any reason to be guided by your own internal orders, which were adopted on the basis of the old order.
Some documents for recording cash transactions can be corrected
The old rules prohibited making corrections to incoming and outgoing cash orders (clause 1.8 and paragraph 6 of clause 2.1 of the old order). However, nothing was said about other documents provided for by the old order, for example, about the cash book, salary slips, and expense reports. And the specified ban was automatically extended to these registers. Now it is allowed to correct all such documents, with the exception of incoming and outgoing cash orders (paragraph 2, subclause 4.7, clause 4 of the new order). To make corrections, you need to cross out the incorrect data and replace it with the correct one. Please indicate the date of correction next to it. And all corrections must be certified by the signature of the employee who prepared the document, and its transcript must be provided.
An employee’s application for the issuance of accountable amounts to him
The procedure for issuing money to an employee for reporting has not changed. As before, an employee application for the issuance of accountable funds is required. It is also compiled in any form. But legislators have simplified the application requirements.
So, previously, such a statement had to contain a handwritten note about the amount of cash and the period for which it is issued, the signature of the manager and the date (paragraph 1, clause 4.4 of the old order).
Now there is no requirement that the amount of the report and the period for which it is issued must be indicated on the application by the manager himself. From June 1, the specified data can simply be entered directly into the application form, which, you see, is more convenient. For example, such work can be done by the accountable person himself. And the manager has the right only to endorse the application, that is, to put only his signature. And don’t write anything else (paragraph 1, subparagraph 6.3, paragraph 6 of the new order).
We also note that in the new procedure, an employee is understood not only as a person with whom an employment contract has been concluded, as indicated in Part 2 of Article 20 of the Labor Code of the Russian Federation, but also as a person with whom a civil law agreement has been signed (clause 5 of the new procedure). This can be interpreted in such a way that it is also permissible to issue money on account to a person hired not under an employment contract. It is not yet clear how the rule will be applied in practice. We recommend waiting for official clarification on this, which will obviously appear soon. In the meantime, in the old fashioned way, give money on account only to those whom you hired under an employment agreement.
Any company or individual entrepreneur uses cash in its activities: in settlements with organizations and individuals, with its employees, etc. In each case, “cash” passes through the cash desk, where after all income and expense transactions, at the end of the day there may be some amount of money left. The cash balance limit is the amount of cash that a company or individual entrepreneur defines as the maximum possible balance at the end of each day, and everything that exceeds it must be handed over to the bank. Is a cash limit required for everyone, and how to calculate it, we will tell you further.
Who needs a cash balance limit?
Today, establishing a cash limit is not universally mandatory for all business entities, as it was before the Directive of the Central Bank of the Russian Federation of March 11, 2014 No. 3210-U came into force.
Previously, the absence of a cash limit meant that at the end of the day there should not be a penny left in the cash register, that is, the limit was considered “zero”. Now, small businesses and individual entrepreneurs have the right not to set a limit on the balance of funds in the cash register at all (paragraph 10, clause 2 of Directive of the Central Bank of the Russian Federation No. 3210-U). This means that in the absence of an approved limit, they can have any amount of “cash” left in the cash register. Of course, this provision only applies if they canceled their previously existing cash limit by order.
Thus, for individual entrepreneurs and small enterprises, the calculation of establishing a cash balance limit is not mandatory, but if there is one, it must be observed. All other organizations must calculate the cash limit without fail.
With whom is a legal entity obliged to agree on the cash balance limit? There is no need to coordinate the cash limit with any government agency or bank; the company calculates and approves it itself.
How to calculate the cash balance limit at the cash register
The enterprise determines its cash limit independently, guided by the Appendix to the Directive of the Central Bank of the Russian Federation No. 3210-U, and taking into account that the amount of the limit is influenced by the nature of the company’s activities, the volume of receipts and cash issuance. Newly created companies must take into account the expected volume of their revenues and payments when calculating.
The Appendix to the Central Bank Directive contains two options for calculating the cash balance limit at the cash desk.
Option 1
This method is based on the company’s revenue (actual or planned), and is more suitable for those who often sell goods or provide services for cash.
Cash balance limit formula:
- L = V/P x Nс
Let's decipher:
- L – cash limit;
- V – the amount of cash revenue received for goods, services or work for the billing period;
- P – settlement period of no more than 92 working days of the legal entity; it can take into account “peak” volumes of receipts, as well as the dynamics of cash receipts in similar periods of previous years;
- Nс – time period in working days, between the days of depositing incoming “cash” to the bank (for example, to calculate the cash balance limit when depositing money once every 5 days, Nс = 5). This period cannot last more than 7 working days, and in areas where there is no bank - more than 14 working days.
An example of calculating the cash limit for 2018 from revenue:
The receipt of cash proceeds to the cash desk of Almaz LLC in the 4th quarter of 2017 amounted to: in October 200,500 rubles; in November - 306,000 rubles, in December - 415,500 rubles. Cash is deposited at the bank every day. How to calculate the cash balance limit?
Let's calculate the limit using the above formula:
(200,500 rub. + 306,000 rub. + 415,500 rub.) / (22 days + 21 days + 21 days) x 1 = 14,406 rub.
The resulting limit should be rounded to whole rubles, as required by the rounding rules and the Federal Tax Service in its letter No. ED-4-2/4116 dated 03/06/2014.
Option 2
If a company works with “cash”, mainly paying for the purchase of goods, provision of services, etc. (or planning to do this), then the second option for calculating the establishment of a cash balance limit for the enterprise is more suitable for her.
The formula for it is as follows:
- L = R/P x Nn
- R – the amount of cash issued during the billing period, excluding salaries, stipends and other payments to employees. If the company has “separate divisions”, it is necessary to take into account the cash that is stored with them, unless separate divisions are given a separate limit on the balance of cash in the cash register;
- P – billing period for which the issuance of “cash” is taken into account (the requirements for it are similar to the first option);
- Nn is the time period between the days of receiving cash from the bank, not counting the receipt of money for salaries, scholarships and other payments to employees. The restrictions on its duration are the same as for the Nc indicator in the first option.
An example of calculating the cash balance limit for 2018 from the volume of cash expenses:
Granit LLC in the 4th quarter of 2017 issued “cash” to its employees for payment of goods and services in the following amount: October - 20,000 rubles; November – 16,000 rubles, December – 56,000 rubles). Money was withdrawn from the current account once every 4 working days. What cash balance limit is set in this case?
(20,000 rub. + 16,000 rub. + 56,000 rub.) / (22 days + 21 days + 21 days) x 4 = 5,750 rub.
When to place an order for a cash balance limit
The last step after calculating the cash balance will be the issuance of an order approving the cash cash limit. The text of the order must contain information about the amount of the established limit, the beginning of its application and the period of validity. Please note that a form is not required to calculate the cash balance limit - the calculation of the limit is also given in the text of the order.
You can change the accepted cash limit at any time by issuing an order to cancel the old one and introduce a new limit. If the indicators used in the calculation change over time, there is no need to recalculate the limit using a new one (letter of the Central Bank of the Russian Federation dated February 15, 2012 No. 36-3/25).
Definition
Cash limit- this is the maximum allowable amount of cash that can be kept in the cash register. Cash in excess of the established limit must be deposited at the bank.
The cash limit is determined by:
Head of the organization;
The head of a separate division of the organization, if this separate division has a bank account;
Individual entrepreneur.
Regulations of the Central Bank of the Russian Federation dated October 12, 2011. No. 373-P provides two formulas for calculating the cash limit:
1. If at the time of calculating the limit the company received revenue
Cash limit = Revenue for the billing period / Calculation period in working days * Interval between days of depositing cash to the bank in working days
2. If at the time of calculating the limit the company did not receive revenue
Cash limit = Volume of cash issued for the billing period / Billing period in working days * Interval between days of receiving cash at the bank in working days
The settlement period cannot exceed 92 working days, the intervals for cash delivery/receipt cannot exceed 7 working days (14 working days for settlements where there are no banks).
Exceeding the cash limit is allowed:
On the days of payment of salaries, scholarships and other similar payments. The period for their issuance is set by the head of the organization and cannot exceed 5 working days;
On weekends and non-working holidays (if business is conducted on these days).
Exceeding the cash limit in other cases is an administrative violation and leads to the imposition of a fine on officials in the amount of 4,000 rubles. up to 5000 rub.; for legal entities - from 40,000 rubles. up to 50,000 rub. (Article 15.1 of the Code of Administrative Offenses of the Russian Federation).
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The cash limit is the maximum amount of cash balance that can be kept in the cash register of a business entity at the end of the work shift.
The procedure for calculating and applying the cash limit is approved by Directive of the Central Bank of the Russian Federation dated March 11, 2014 No. 3210-U (hereinafter referred to as the Directive).
Who is required to apply the limit?
Individual entrepreneurs and organizations that are classified as small businesses according to the following criteria have the right to refuse to apply the cash limit:
All other legal entities are required to calculate and apply the limit in accordance with the Guidelines.
If the limit is not approved, it is considered equal to zero. Exceeding the limit funds are subject to storage in the organization's current accounts.
Companies with branches choose one of two possible options for setting a limit, depending on the method in which the division transfers funds to the parent organization:
Small organizations (IE) can approve the limit on their own initiative.
Small businesses that have established a cash balance limit by order are required to adhere to it.
Orders to establish and cancel a limit
The permissible cash balance limit is established by an order approved by the head of the business entity, which should indicate:
- Cash limit size;
- The date from which it applies;
- The procedure for calculating the amount of cash balance.
In order to exercise the right not to limit the balance of money, you must approve an order to cancel the current limit (if such an order was previously in force in the organization). And then issue an order stating that the cash threshold does not apply from a certain date.
If there is no order not to apply the limit in the organization, the inspectors checking will decide that the permissible amount of the cash balance has not been established, i.e. equal to zero. In this case, any cash reflected in the balance at the end of the day will be considered over-limit.
The period during which the approved limit is valid is chosen by the company independently. The order usually sets the start date for the application of the limit.
The order can be valid from year to year, or can be reissued monthly if required by the specifics of the organization’s economic activities. For example: if the enterprise experiences significant fluctuations in the volume of cash revenue from product sales.
Storing excess amounts
Organizations are allowed to leave funds in the cash register exceeding the approved threshold on the following days:
- determined for the issuance of wages and other payments included in the payroll, as well as payments of social charges;
- holidays and weekends, if the company operates and conducts cash transactions on such days.
If it is impossible to leave the money at the cash desk, and it is not possible to deposit it into the current account, the amount exceeding the limit can be returned to an employee of the organization and the cash is returned to the cash desk the next day.
How to calculate the cash limit?
According to the Guidelines, the limit is calculated in full rubles. Those. the amount resulting from the calculation is subject to rounding in accordance with basic mathematical rules.
The threshold amount can be calculated in two ways:
1. Based on the amount of cash revenue received by the company
L = P / RP * DS, where:
P – volume of cash receipts for the billing period (firms that are just starting to conduct business activities indicate the amount of expected revenue), rub.;
RP – billing period for which the volume of revenue is determined (can be no more than 92 working days), days;
DS – the number of working days between the days of delivery of proceeds to a financial institution (no more than 7 days, or 14 days if there is no bank in the locality in which the company operates), days.
2. Based on the amount of cash issued by the company
L = V / RP * DP, where:
L – estimated limit amount, rub.;
В – the volume of funds issued for the billing period, excluding salary payments and other payments to employees, rubles;
RP – settlement period for which the volume of cash issuance is determined (no more than 92 working days), days;
DP - the number of working days between the days of receipt of money by check at a financial institution (no more than 7 days, or 14 days if there is no bank in the locality in which the company operates), days.
The billing period can be chosen completely arbitrarily. It could be:
- the previous period (for example: the limit for the 2nd quarter is calculated based on the data of the 1st quarter);
- the period when the receipt of funds was maximum (for example: the largest amount of revenue was received in November last year);
- the period corresponding to the same period of the previous year (for example: calculation for the 2nd quarter of the current year is made based on the data of the 2nd quarter of the previous year), etc.
Example of cash limit calculation
The company operates in the retail trade of consumer goods. To calculate the limit, a period of 20 working days was selected. The amount of revenue received was RUB 5,830,500. Cash expenses for payments not related to wages amounted to RUB 1,250,800. Money is deposited in the bank every three days.
1) The limit calculated from the amount of revenue will be:
RUB 5,830,500 / 20 days * 3 days = 97,175 rub.
2) The limit calculated from accounting for expenses will be:
RUB 1,250,800 / 20 days * 3 days = 20,847 rub.
Obviously, in this situation, it is more profitable to calculate the limit based on the amount of revenue received.
Penalty for exceeding cash limit
Keeping excess funds in the cash register is punishable by a fine (Article 15.1 of the Code of Administrative Offenses of the Russian Federation) in the amount of:
- from 4 to 5 thousand rubles. – for responsible employees and individual entrepreneurs;
- from 40 to 50 thousand rubles. - for the organization.
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