In the sphere of circulation and their performance of the functions of a means of payment and a medium of circulation. This is part of the monetary turnover, equal to the sum of all payments made in cash over a certain period of time; this is the process of continuous circulation of cash banknotes (banknotes, treasury notes, small change). This turnover serves the receipt and expenditure of most of the population’s cash income. In Russian reality, cash also serves most of the economic relations of legal entities, especially private entrepreneurs.

Cash is used:

• for the circulation of goods and services;
• for calculations of wages and equivalent payments;
• for payment of securities and payment of income on them;
• for household payments for utilities.

Cash circulation in the Russian Federation is organized by the state represented by the Central Bank.

Cash is accepted and issued cash settlement centers at the territorial main departments of the Bank of Russia, which form a working cash register for this purpose, as well as reserve funds. Reserve funds banknotes and coins represent a stock of banknotes that have not been issued for circulation to regulate cash resources.

Cash is issued into circulation by the Bank of Russia on the basis of an emission permit - a document giving the right to the Bank of Russia to support the working cash register from reserve funds of banknotes and coins. This document is issued by the Board of the Bank of Russia within the limits of the emission directive, i.e. e. the maximum release of money into circulation established by the Government of the Russian Federation.

An important role in stabilizing money circulation in Russia was played by the Regulation “On the rules for organizing cash circulation on the territory of the Russian Federation” approved by the Bank of Russia, which is mandatory for implementation by territorial branches of the Bank of Russia, cash settlement centers, credit institutions and their branches, including institutions of the Savings Bank RF, as well as organizations, enterprises and institutions on the territory of the Russian Federation.

Basic principles of organizing cash flow in the Russian Federation are as follows:

• all enterprises and organizations must keep cash in commercial banks (except for the amount of the limit established by the servicing bank);
• banks set cash balance limits for enterprises of all forms of ownership;
• in excess of the limit, cash can be stored at enterprises for the issuance of funds for wages and social payments for no more than three days;
• circulation of cash serves as the object of forecast planning;
• monetary management is carried out centrally;
• The organization of cash circulation aims to ensure the stability, elasticity and economy of money circulation.

Regional branches of the Bank of Russia control the work of bank institutions in organizing cash turnover, compliance by enterprises with the procedure for conducting cash transactions and working with cash in accordance with the above Regulations.

Cash turnover -϶ᴛᴏ a set of payments for a certain period of time, which demonstrates the movement of cash both as a medium of exchange and as a means of payment.

Scope of use of cash is mainly related to the income and expenses of the population and includes:

• settlements between the population and retail and public catering enterprises;
• wages and payment of other monetary income;
• depositing money by the population and receiving money from the bank;
• payment of pensions, benefits, scholarships, insurance compensation;
• issuance of consumer loans by credit institutions;
• payment for securities and payment of income on them;
• utility bills, payment of taxes to the budget by the population.

Based on all of the above, we come to the conclusion that cash can be used for the circulation of goods and services, for settlements not directly related to the movement of goods and services. Cash circulation is carried out using various types of money: banknotes, metal coins, other credit instruments (bills, bank bills, checks, credit cards). Cash issuance is carried out traditionally by central banks, in some countries and the treasury. As a general rule, cash flow between enterprises and organizations is insignificant.

In countries with developed market economies and banking systems, the share of cash payments in the entire payment turnover is 3-8%. This is achieved by transferring salaries to bank accounts. In the USA, less than 1% of the population receives wages in cash, in England - up to 10%, in Canada - 5%. All payments by the population for goods and services are carried out through checks and various payment cards.

Today, the sphere of cash turnover in Russia is unreasonably wide. If at the beginning of market reforms it reached 1/4, now it exceeds 40%.

Basic reasons for the expansion of cash turnover:

• economic crisis;
• cash crisis;
• non-payment crisis;
• slowdown in settlements;
• an insufficiently organized system of interbank settlements;
• deliberate reduction of profits in order to avoid taxes and expand cash payments outside banks.

A sharp expansion of cash circulation leads to an increase in distribution costs, the replacement of old banknotes with new ones, the emergence of “black cash”, and a shortage of tax payments. The results will be deficits, financial instability. If money circulation passed through bank accounts, then the central bank would have more opportunities to take it into account, regulate it and have complete information about the state of the economy. This would make it possible not to expand emissions. Unaccounted cash turnover is most often converted into foreign currency, and this requires the state to expand the process of issuing cash for payments from the budget.

The Civil Code of the Russian Federation regulates in detail the rules for using cash in the country. Under this rule, different procedures for settlements with the participation of the population are established, depending on the connection between cash payments and business activities. These payments are made by bank transfer. Persons not engaged in entrepreneurial activities make payments both in cash and non-cash. In ϲᴏᴏᴛʙᴇᴛϲᴛʙii with the current procedure for organizing cash circulation, limits for the balance of cash in their cash registers are established for each enterprise, and all money exceeding the limit must be deposited in the bank serving this enterprise. If there are several accounts in different banks, the enterprise, at its discretion, applies to one of them with the expectation of establishing a limit on the cash balance in the cash register. When checking a given enterprise, banks are guided by this limit. For an enterprise that has not submitted a settlement to the bank, the cash balance limit is considered zero, and undelivered cash is considered above the limit.

The issuance of cash to enterprises from the bank is carried out at the expense of current receipts in the bank's cash desks. It is worth saying that in order to ensure the timeliness of cash payments, the RCC of the Central Bank of the Russian Federation establishes for each bank the amount of the minimum allowable cash balance in the operating cash desk at the end of the day.

Before the transition to market relations, cash turnover was planned and regulated on the basis of the balance of cash income and expenses of the population and on the basis of the State Bank's cash plan. With the help of these plans, the problem of balancing the money and commodity supply, the issue of the size of emissions, and the withdrawal of money from circulation were solved. The issue was of a directive nature. With the transition to market relations, emission plans ceased to be prescriptive. Forecasting the balance of cash income and expenses helps the Central Bank of the Russian Federation more fully take into account the demand of the population and predict the structure of consumer demand. If in the balance sheet the income of the population exceeds expenses, then ϶ᴛᴏ means that the money supply in the hands of the population increases. In this case, cash services for customers require the issue of money.

The main items of income of the population in the balance sheet: wages, pensions, benefits, scholarships, income from property and business activities. The material was published on http://site
Today, the relationship between wages and property income has changed. It is appropriate to note that wages account for less than 50% of the population's income.

Expenses of the population - purchase of goods and services (2/3), obligatory payments and deposits (10%), purchase of currency (20%) The increase in household money has sharply decreased, as have savings in securities and deposits. Since 1991, cash turnover forecasts have been compiled in Russia, which are based on reliability and reality in determining changes in the cash supply in circulation. It is worth noting that they are needed in order to determine the need for cash money in Russia as a whole, by region and by bank. Forecasts of cash turnover reflect the volume and sources of cash inflows to banks, the size and direction of their issuance and, ultimately, the issue or withdrawal of money. Calculations are prepared by banks quarterly, distributed by month, and sent to the RCC of the Central Bank of the Russian Federation two weeks before the start of the quarter. Three days before the start of the quarter, the RCC of the Central Bank of the Russian Federation reports estimated data on turnover in the region as a whole for the receipt and disbursement of cash to banks.

The revenue side of cash turnover calculations reflects: trade revenue, revenue from transport enterprises, revenue from consumer services and entertainment enterprises, rent and utility bills, receipts to the accounts of agricultural enterprises, revenue from the sale of currency, revenue from communications enterprises, income from the sale of securities. The expenditure side reflects: wages, pensions, benefits, the issuance of funds for the purchase of agricultural products, and business expenses.

Today, the Central Bank of the Russian Federation is moving to market forecasting methods related to establishing the volume of refinancing, changing interest rates, using required reserve norms, and using calculations of monetary aggregates.
It is worth noting that the main method of regulation is increasingly becoming the operations of the Central Bank of the Russian Federation on the open market. In this case, a comprehensive system for regulating cash flow is used.

The issue of money involves ensuring the money supply from the following sources:

• commercial bank lending:
• state lending:
• increase in gold and foreign exchange reserves.

In the first case, the issue is secured by bills and other securities, in the second - by government debt, government bonds and obligations, in the third - it does not require collateral, since gold and currency will be collateral.

The assets of the Central Bank of the Russian Federation serve as support for the issue of banknotes, while the Bank of Russia determines the procedure for conducting cash transactions, establishes rules for the transportation, storage, collection of money, forms a mechanism for creating reserve funds of banknotes and coins, determines the procedure for replacing and destroying damaged money. The functions of cash regulation of the money supply are assigned to the RCC of the Central Bank of the Russian Federation, which are organized at the head territorial departments of the Bank of Russia, where reserve funds of banknotes and coins are created. It is worth noting that they are necessary to ensure emission, regulate the banknote structure of the money supply, replace damaged banknotes and save transportation costs.

Except for the above, the RCC of the Central Bank of the Russian Federation has created circulating cash desks that accept and issue money during the operating day.
It is worth noting that the balance of money in the cash register is limited, the surplus is transferred to the reserve fund. Cash services for commercial banks are provided on a contractual basis. The issuance of money, the acceptance of excess money, and cash services are carried out with the reflection of all transactions on correspondent accounts of banks and other legal entities.

Issue of cash— ϶ᴛᴏ release of money into circulation, which increases the mass of cash in circulation. The size of emissions in a command economy was strictly regulated by the state; in a market economy, there is a method for forecasting emissions. Issue operations (operations for the release and withdrawal of money from circulation) are carried out by:

• the central bank (bank of issue), which enjoys the monopoly right to issue bank notes (banknotes), which make up the vast majority of cash circulation;
• treasury (state executive body), issuing small-denominated banknotes (treasury bills and coins made from cheap types of metal, which in developed countries account for about 10% of the total issue of cash)

The state is taking measures to regulate the production process, using the credit and monetary systems to weaken possible cyclical fluctuations in economic processes. In many countries, under the influence of increasing inflation, such a method of stabilizing the economy was used as targeting— establishment of targets in order to regulate the growth of the money supply in circulation and credit, which should have guided central banks. Since monetary circulation is influenced by various economic factors, and not only depends on the increase in the amount of money supply, many countries have now abandoned targeting monetary aggregates. In essence, targeting is the establishment of direct restrictions on changes in the volume of money supply. We should not forget that an important point that influences the effectiveness of regulating the dynamics of the money supply using targets will be the order in which the latter are established: in the form of control figures (France), deposits (USA), forecasts (Japan)

Organization of cash flow

Let's look at the organization of cash flow using the example of the Russian Federation.

In Russia, cash circulation is regulated by “It is worth saying - the regulation on the rules for organizing cash circulation on the territory of the Russian Federation”, approved by the Bank of Russia - the Central Bank of the Russian Federation (Central Bank of the Russian Federation). It is worth saying - the provision will be mandatory for implementation by the territorial institutions of the Central Bank of the Russian Federation, settlement cash centers (RCC), credit institutions and their branches, including institutions of the Savings Bank of the Russian Federation, as well as organizations, enterprises and institutions (hereinafter referred to as enterprises) on the territory of the Russian Federation.

According to the regulation, all enterprises, regardless of their organizational and legal form, store cash in bank institutions on deposit accounts on contractual terms.

Cash received at the cash desks of enterprises must be handed over to banking institutions for subsequent crediting to the accounts of these enterprises.

Cash will be handed over by enterprises directly to the cash desks of bank institutions or through joint cash desks at enterprises, as well as by enterprises of the State Committee of the Russian Federation for Communications and Informatization (Goskomsvyaz of Russia) for transfer to ϲᴏᴏᴛʙᴇᴛϲᴛʙexisting accounts in bank institutions.

Acceptance of cash by banking institutions from serviced enterprises is carried out in the manner established by “It is worth mentioning - the regulations on the procedure for conducting cash transactions and the rules for storage, transportation and collection of banknotes and coins of the Bank of Russia in credit institutions on the territory of the Russian Federation” (as amended by the instructions of the Central Bank of the Russian Federation dated February 27, 2010 No. 2405-U) The procedure and deadlines for the delivery of cash are established by bank service institutions for each enterprise in agreement with their managers based on the need to accelerate the turnover of money and their timely receipt at the cash desks during the working days of bank institutions. The deadlines for the delivery of cash by enterprises are traditionally assumed to be daily.

Cash accepted from individuals for the payment of taxes, insurance and other fees is handed over by administrations and collectors of these payments directly to banking institutions or by transfer through enterprises of the State Committee for Communications of Russia.

Cash limits kept in the cash registers of enterprises on a daily basis are established by the banks servicing them in agreement with the managers of these enterprises. In this case, the specifics of the enterprise’s activities are taken into account. The cash limit, as directed by the bank, can ensure the normal operation of the enterprise from the morning of the next day, the limit can be determined within the limits of the average daily cash revenue, etc. Banks issue cash to enterprises traditionally at the expense of current cash receipts at the cash desks of credit institutions.

Cash in credit institutions serviced by cash settlement centers (RCCs) is regulated in the same way.

To ensure the timely issuance of cash by credit institutions from the accounts of enterprises, as well as from the deposit accounts of citizens, territorial branches of the Bank of Russia or on their instructions, the RCCs establish for each credit institution and their branches the amount of the minimum allowable cash balance in the operating cash desk at the end of the day.

The establishment of limits on the circulating cash registers of cash settlement centers and their reinforcement are carried out in accordance with the “Instructions for issuing and cash work in institutions of the Bank of Russia” as amended. instructions of the Central Bank of the Russian Federation dated February 27, 2010 No. 2405-U.

Let's study the scheme of cash turnover in the Russian Federation (Fig. 2.1)

Figure No. 2.1. Scheme of cash flow in Russia

The main links of cash circulation

The initial impulse that triggers the cash flow mechanism will be the directive of the Central Bank of the Russian Federation to cash settlement centers. According to it, cash is transferred from their reserve funds to the working cash registers of the RCC. And thus they go into circulation. From the working cash desks of the RCC, cash is sent to the operating cash desks of credit institutions (commercial banks). Some of this money serves interbank settlements, some is sent as loans to other banks, but most of the cash is issued to legal entities and individuals serviced by this commercial bank.

Part of the cash held in the cash registers of organizations, enterprises, institutions is used for settlements between them, but the majority is transferred to the population in the form of cash income (salaries, pensions, benefits, etc.)

The population uses cash for mutual settlements, but most of it is spent on paying taxes, rent and utility bills, purchasing goods and paying for services, paying insurance, rent payments, etc.

Accordingly, money from the population goes either to the cash desks of trade enterprises, the State Committee for Communications of Russia, as well as enterprises providing services to the population, or directly to the operating cash desks of commercial banks.

Forecasting and assessing the state of cash flow

To determine the volume, sources of cash receipts at the cash desks of banking institutions and the directions of their issuance, as well as their release or withdrawal from circulation in regions, territories, republics and the Russian Federation as a whole, a forecast of cash turnover for each quarter is compiled.

To determine the need for cash, credit organizations make forecast calculations of the expected receipts in their cash desks and cash disbursements based on the time series of the “Report on Cash Turnovers of Bank of Russia Institutions and Credit Institutions” or on the basis of cash requests from serviced enterprises.

Calculations of expected cash receipts at the cash desks of credit institutions (commercial banks) and their disbursements are compiled quarterly, distributed by month. The results of cash receipts and expenses are reported to the RCC, in which the correspondent account of the credit organization is opened, 14 days before the start of the forecast quarter.

Cash settlement centers make forecasts of cash turnover in terms of receipts, expenses and emission results in general for the credit institutions they serve based on an analysis of the turnover of cash passing through their cash desks and current messages from credit institutions. Calculations are carried out quarterly with distribution by month and 7 days before the new quarter are reported to the territorial branch of the Bank of Russia. This is extremely important for predictive calculations of the size and, if necessary, the issue of money in order to reinforce the working cash registers of the RCC.

To determine expected changes in the cash supply in circulation and the needs of enterprises for cash, territorial branches of the Bank of Russia draw up forecasts of cash turnover for the region, territory, and republic according to the sources of cash receipts at the cash desks of bank institutions and the directions of their issuance for the coming quarter. By the way, this work is carried out on the basis of an assessment of the prospects for the socio-economic development of the region, reporting data on cash turnover for previous periods, as well as information received from the RCC and banks on the projected cash turnover and emission result.

The territorial institutions of the Bank of Russia take into account the predicted results of the issue of money when developing measures to organize cash circulation in the region, as well as when drawing up plans for the delivery of cash to the reserve funds of cash settlement centers.

Let us note that the territorial branches of the Bank of Russia analyze the state of cash circulation in the regions on a quarterly basis.

The object of analysis will be: emerging trends in cash turnover and its structure; sources of cash receipts at the cash desks of bank institutions and directions for their withdrawal from the cash desks of bank institutions; speed of cash return to the cash desks of bank institutions; ongoing changes and trends in the economy; changes in the consumer price index; the state and development of non-cash payments between legal entities and individuals; the level of collection of cash proceeds (especially trade) generated in the consumer market. The territorial distribution of the issue of money in circulation, the reasons for the increase in the issue (reduction in withdrawal) of cash are studied; unused opportunities for bank institutions to mobilize internal cash resources to meet the cash needs of enterprises; results of banking control over enterprises’ compliance with the procedure for conducting cash transactions and working with cash; ongoing changes in the directions of use of cash income of the population and the sources of their formation; the state of spending by legal entities on wages and social payments; reasons for the formation of overdue debts for the payment of funds for wages and pensions.

INTRODUCTION………………………………………………………………………………..…..3

1. Economic content of cash turnover……………..……..6

2. Organization of cash circulation………………………………..…....8

3. Monetary systems, their forms and development……………………………..……9

CONCLUSION……………………………………………………………..…..14

LIST OF REFERENCES……………………………………...16

INTRODUCTION

Changing the form of value (product to money, money to product), money is in constant movement between three main subjects: individuals, legal entities and government bodies. The movement of money when performing their functions in cash and non-cash forms constitutes monetary circulation.

The social division of labor and the development of commodity production are the objective basis of money circulation. The formation of national and world markets under capitalism gave a new impetus to the further expansion of money circulation.

The beginning of the movement of money is preceded by its concentration among subjects. They are concentrated in the wallets of the population, in the cash registers of legal entities, in accounts in credit institutions, and in the state treasury. For the movement of money to arise, there must be a need for money on one of the two sides. The demand for money arises when carrying out transactions; money is needed for circulation and payments for goods and services.

Monetary circulation is a rather complex structure that combines both the main essential characteristics of money and the mechanisms and ways of using money to promote the economic and social development of the country.

Money circulation is divided into two areas: cash and non-cash. There is a close and mutual dependence between cash and non-cash circulation: money constantly moves from one sphere of circulation to another, from the form of cash to a bank deposit, and vice versa. Receipts of non-cash funds into bank accounts are an indispensable condition for the issuance of money. Therefore, non-cash and cash turnover together form a single monetary turnover of the country, in which the same money of the same name circulates.

With the improvement of payment and settlement relations, the relationship between cash and non-cash areas of money circulation also changed. Until the end of the 19th century, cash payments prevailed. In modern conditions, the share of cash, especially in industrialized countries, is small; for example, in the USA it is 8%.

The topic of my test is “Cash turnover, its organization. Monetary system". When writing my work, it was very interesting for me to get acquainted with monetary systems, cash circulation, and monetary circulation in general in more detail.

Cash turnover includes the movement of the entire cash supply over a certain period of time between the population and legal entities, between individuals, between legal entities, between the population and government agencies, between legal entities and government agencies.

Cash movement is carried out using various types of money: banknotes, metal coins, paper money (treasury notes). Cash issuance is carried out by a central bank (usually a state bank). He puts cash into circulation and withdraws it if it has become unusable, and also replaces the money with new types of bills and coins.

Cash is used:

· for the circulation of goods and services;

· for settlements not directly related to the movement of goods and services, namely: settlements for the payment of wages, bonuses, benefits; for the payment of insurance compensation under insurance contracts; when paying for securities and paying income on them; on household payments for utilities, etc.

The historically established and legally established structure of monetary circulation in the country is the monetary system.

It is customary to classify the monetary systems of individual states according to various key criteria: by the type of money as a form of payment, by the role of the state in regulating money circulation, etc.

Depending on the type of money, there are two types of monetary systems:

metal handling systems;

· paper-credit circulation systems.

Monetary systems of metallic circulation are based on metallic money (gold, silver), which perform all the functions inherent in money as a universal equivalent, and banknotes circulating simultaneously with metallic money can be exchanged for metallic money at any time.

Monetary systems of paper-credit circulation are based on the dominance of paper or credit money.

Monetary systems and cash circulation will be discussed in more detail below.

1. ECONOMIC CONTENT OF CASH

TURNOVER

Cash turnover is a continuous process of movement of cash, which is represented by banknotes, treasury notes, and metal coins. Despite the fact that cash turnover in all countries, both with market and administrative economic models, is a smaller part, it is of great importance. It is this turnover that serves the receipt and expenditure of most of the population’s cash income. It is cash circulation that consists of the constantly repeating circulation of cash (Fig. 1).

Fig.1. Cash flow diagram (using the example of Russia)

The diagram shows that cash circulation begins in the cash settlement centers of the Central Bank of the Russian Federation. Cash is transferred from their reserve funds to circulating cash, thereby entering circulation. From the working cash desks of the RCC, cash is sent to the operating cash desks of commercial banks. Part of this money serves interbank settlements, part is sent as loans to other banks, but most of the cash is issued to clients - legal entities and individuals (either to the cash desks of enterprises and organizations, or directly to the population) serviced by this commercial bank.

Part of the cash in the cash registers of enterprises and organizations is used for settlements between them, but most of it is transferred to the population in the form of various types of cash income (salaries, pensions and benefits, scholarships, insurance compensation, dividend payments, proceeds from the sale of securities and etc.)

The population also uses cash for mutual settlements, but most of it is spent on paying taxes, fees, insurance payments, rent and utility bills, repaying loans, purchasing goods and paying for various paid services, purchasing securities, rent payments, paying fines, penalties and penalties, etc.

Thus, money goes either directly to the operating cash desks of commercial banks, or to the cash desks of enterprises and organizations (primarily trade enterprises and enterprises providing services to the public).

In accordance with the current procedure for organizing cash circulation, limits for the balance of money in their cash registers are established for each enterprise, and money exceeding the limit must be deposited with the commercial bank servicing this enterprise. For commercial banks, limits are also set for their transaction cash desks, so in amounts exceeding the limit, they hand over cash to the cash register center. The latter also sets a limit for their working cash, so money in an amount exceeding the limit is transferred to reserve funds, that is, withdrawn from circulation.

2. ORGANIZATION OF CASH TRAFFIC

Cash circulation is organized by the state in the form of a central bank. For this purpose, the central bank systematically publishes a document called “The procedure for introducing cash transactions in the national economy.” The last time this document was published in Russia was in September 1993.

Cash circulation is organized on the basis of the following principles:

· all enterprises and organizations must keep cash (except for the part established by the limit) in commercial banks;

· banks set cash balance limits for enterprises of all forms of ownership;

· cash circulation serves as the object of forecast planning;

· money circulation is managed centrally;

· organization of cash circulation aims to ensure stability, elasticity and economy of money circulation;

· Enterprises can receive cash only from the banks that serve them.

3. MONETARY SYSTEMS, THEIR FORMS AND DEVELOPMENT

With the strengthening of state power and the formation of markets in the 16th - 17th centuries in Europe, objective prerequisites for state regulation of monetary circulation arose. Each state began to legislatively determine the forms of monetary circulation in the country, its monetary system. When adopting laws regulating the organization of money circulation, the state took into account historically established traditions, political and economic conditions in the country.

As historical experience shows, the stability and elasticity of the monetary system depend on what kind of money is in circulation. There are two types of monetary systems:

metal handling system when a monetary commodity (noble goods) performs all the functions of money;

paper credit circulation system when credit or paper money that is not exchangeable for gold and silver is in circulation;

Stability or stability of the monetary system means the relative constancy of the value of the money supply.

The elasticity of the monetary system is the ability of money circulation to expand or contract in accordance with the needs of economic circulation in money.

In metal circulation, two types of monetary systems are distinguished: bimetallism and monometallism.

At bimetallism the role of universal equivalent was simultaneously assigned by law to both gold and silver. Coins from these metals were freely minted and circulated on an equal basis.

There were three types of bimetallism:

1. A parallel currency system, when the ratio between gold and silver coins is spontaneously established on the market;

2. A dual currency system, when the ratio between gold and silver coins was established by the state depending on various factors (demand for metals, economic and political situation in the country, etc.);

3. A system of “limping” currency, in which gold and silver coins served as legal tender, but the minting of silver coins was carried out in a closed manner and was limited, in contrast to the free minting of gold coins. That is, gold has a freer circulation than silver money.

Bimetallism was widespread in the 16th-17th centuries, and in a number of Western European countries in the 19th century.

The bimetallism system was contradictory and unstable. The presence of two measures of value (in gold and silver terms) hampered the development of market relations. In addition, the fixed cost ratio between gold and silver established by the state did not correspond to their market value. As a result of the reduction in the cost of silver production at the end of the 19th century and its depreciation, gold coins began to disappear from circulation into treasure.

The development of a commodity economy required stable money, a single universal equivalent, so bimetallism gave way to monometallism.

With monometallism One metal acted as the universal equivalent: either gold or silver.

For example, in Tsarist Russia the system of silver monometallism was introduced as a result of the monetary reform of 1839-1843. The silver ruble became the monetary unit. For the first time, gold monometallism (standard) as a type of monetary system developed in Great Britain at the end of the 18th century. and was enshrined in law in 1816. In most other states it was introduced in the last third of the 19th century.

There are three types of gold monometallism:

· gold coin standard;

· gold bullion standard;

· gold exchange standard.

The most stable and elastic monetary system was the system gold coin standard. This standard is characterized by the following main features:

· in the internal circulation of the country there is a full-fledged gold coin, gold performs all the functions of money;

· free minting of gold coins is allowed for private individuals (usually at the country's mint);

· inferior money in circulation (banknotes, metal coins) can be freely and unlimitedly exchanged for gold;

· free export and import of gold and foreign currency and the functioning of free gold markets are allowed.

A stable monetary system stimulated the development of credit relations, foreign economic relations, the full implementation of the laws of a market economy, and, consequently, high growth rates of social production.

At gold bullion standard There are no gold coins in circulation and no free minting of them. The exchange of banknotes, as well as other inferior money, is carried out only for gold bars. The free movement of gold from one country to another was prohibited

Gold exchange (gold exchange) standard– there is also no circulation of gold coins and free minting. Banknotes are exchanged for mottos, i.e. for foreign currency exchangeable for gold. The important role of the gold exchange standard was that it consolidated the currency dependence of some countries on others, which was the basis for the subsequent creation of a system of international currency treaties and currency regulation systems.

The production of gold and silver in the world is limited, which restrained the increase in the money supply, and, consequently, the development of commodity production. The contradiction between the quantity of a monetary commodity and the market’s need for money was resolved by issuing into circulation tokens of the value of full-fledged money: credit and paper.

In the process of evolution of monetary systems, there is a constant reduction in the costs of money circulation, and cost savings are ensured. It's very simple to explain. Expensive, heavy, inconvenient to store and to transport for a long time, gold and silver money were replaced by light, portable tokens of value - paper money. Printing paper money and putting it into circulation certainly requires less cost than mining precious metals and processing them for monetary circulation.

The emergence of the next type of money – credit – contributed to even greater cost savings. Bills of exchange, checks and other forms of credit money made it possible to save banknotes, since they could be written out for significant sums of money, eliminating the need to carry cash with them. The advent of credit cards and systems of electronic non-cash payments made it possible to quickly and independently of the territorial distance of clients service cash payments and significantly reduce the costs of ensuring cash flow.

All paper credit systems are united by the following common properties:

1. There is a displacement of gold from internal and external monetary circulation. Gold, still serving as a treasure, is accumulated in the gold reserves of banks.

2. The state takes upon itself the regulation of money circulation.

3. Issue of cash and non-cash banknotes based on credit operations of banks.

4. Development of non-cash money turnover and reduction of cash turnover.

Monetary systems based on paper and credit money differ significantly in command and market economies.

The main, most characteristic features of the administrative-command monetary system are the following: concentration of money turnover in a single state bank; legislative differentiation of money turnover into non-cash and cash turnover; mandatory storage of enterprise funds in accounts in a state bank; the state bank is a monopolist in attracting savings from the population, etc.

The main features of the monetary system characteristic of a market economy are: decentralization of money circulation between different banks; division of the function of issuing between different parts of the banking system of non-cash (issued by commercial banks under different forms of ownership) and cash (issued by central state banks) banknotes; close relationship between non-cash and cash turnover with priority to non-cash turnover, etc.

CONCLUSION

Cash circulation is a continuous process of cash movement, designed to serve the receipt and expenditure of cash income of the population. Cash circulation is organized on the basis of the following principles: all enterprises and organizations must keep cash in commercial banks; banks set cash balance limits for enterprises of all forms of ownership; cash circulation serves as the object of forecast planning; monetary management is carried out centrally; the organization of cash circulation is aimed at ensuring the stability, elasticity and economy of money circulation; Enterprises can receive cash only from the banks that serve them. Cash circulation is organized by the state represented by the central bank.

The monetary system is the historically and legally established structure of monetary circulation in the country. The monetary system is being improved, reflecting the economic level of development of society. Depending on the type of money, they distinguish: monetary systems based on metallic money, and paper-credit circulation systems.

Historically metal money systems were represented by bimetallism and monometallism. Bimetallism is a monetary system in which the state legally assigns the role of universal equivalent to two metals - gold and silver. Monometallism is a monetary system in which one monetary metal is the universal equivalent, while other signs of value (banknotes, treasury notes, small change) can, if necessary, be exchanged for monetary metal.

Gold monometallism existed in the form of gold coin, gold bullion and gold exchange standards.

Currently existing paper-credit monetary systems characterized by the displacement of gold from internal and external circulation. Gold, still playing the function of treasure, is accumulated in the gold reserves of banks.

LIST OF REFERENCES USED

1. Money circulation and banks: Textbook / Ed. G.N. Beloglazova, G.V. Tolokontseva. - M.: Finance and Statistics, 2001. - 272 p.

2. Money, credit, banks: Textbook / Ed. O.I. Lavrushin. - 2nd ed., revised. and additional - M.: Finance and Statistics, 2003. - 464 p.

3. General theory of money and credit: Textbook for universities / Ed. prof. E.F. Zhukova - 2nd ed., revised. and additional - M.: UNITY, 2000. - 359 p.

4. Sviridov O.Yu., Money, credit, banks. Series “Textbooks, teaching aids”. - Rostov-on-Don: “Phoenix”, 2001. - 448 p.

5. Finance. Money turnover. Credit: Textbook for universities / L.A. Drobozina, L.P. Okuneva, L.D. Androsova, etc. / Ed. prof. L.A. Drobozina. - M.: Finance, UNITY, 1999. - 479 p.

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It is a set of cash flows that are carried out by millions of economic entities.

— the totality of all cash flows in the economy for a certain period.

Depending on the purpose of payments in the reproduction process, they can be grouped into several large flows. This makes it possible to schematize money circulation in the form of several interconnected and circular flows of money movement.

Cash flow- a set of payments that serve a separate stage (or part of it) of the process of expanded reproduction.

The general diagram of cash flow and its component flows is shown in the figure.

1. payment by firms for the resources they need, which they buy from households (labor, land, housing, etc.);
2. payment by government agencies for the labor of civil servants;
3. household income from the sale of their resources (wages, interest, dividends, rent, etc.);
4. household expenditure on ;
5. payment of net taxes by households;
6. payment by households directed to;
7. mobilization by firms in the money market of the funds they need for;
8. investment expenditures of firms;
9. government mobilization of funds in the money market (government loans);
10. state procurements;
11. payment for products imported into the country;
12. receipt of money into the country from the world market as payment;
13. income of firms from the sale of goods and services ();
14. net inflow of funds (capital) from the world market to the domestic market;
15. net outflow of funds (capital) from the domestic market to the world market.

Structure of money turnover

Cash turnover is a movement when carried out in cash and non-cash form.

The basis of money circulation is the social division of labor and the development of commodity production, which in turn has a significant impact on the further expansion of money circulation and the formation of national and world markets.

The beginning of the movement of money is preceded by its concentration among individuals and legal entities. In order for there to be a movement of money, there must be a need for money from one or the other party. When concluding transactions, money is needed for circulation and payments for goods and services. Their volume is determined by the nominal volume. The greater the total, the greater the need for money to conclude transactions.

There is also a demand for money for accumulation, which comes in various forms: deposits in credit institutions, securities, official reserves.

Cash turnover is carried out in two forms: cash and non-cash.

Cash turnover— the movement of cash in the sphere of circulation and the performance of two functions by it ( and ).

Cash is used:

• for the circulation of goods and services;
• for settlements related directly to the movement of goods and services, namely:
  • calculations for the payment of wages, bonuses, benefits, pensions;
  • on payment;
  • when paying and disbursing income on them;
  • on household payments for utilities.

Non-cash turnover— movement of value without the participation of cash: transfer of funds to accounts of credit institutions, offset of mutual claims.

Non-cash transactions are carried out using checks, bills of exchange, credit cards and other credit instruments.

The size of non-cash turnover depends on the volume of goods in the country, the price level, payment links, as well as the size of distribution and redistribution relations carried out through.

Non-cash turnover has a number of advantages, the essence of which is as follows:

• public are significantly reduced;
• conditions are created for state regulation of monetary circulation;
• the economic situation of subjects of monetary circulation improves, as it increases;
• it becomes possible to rationally use temporarily free funds in bank accounts.

Depending on the economic content and scope of application, the entire non-cash turnover is divided into two parts: settlements for commodity and non-commodity transactions.

Settlements for commodity transactions for inventory items, services rendered and work performed - they are the predominant ones, they determine the nature and composition of the work of the financial service of the enterprise in the field of settlements. The state of all calculations of the enterprise, its... largely depends on the uninterrupted and systematic nature of these calculations.

Settlements for non-commodity transactions- related to the execution of the enterprise (receipt and return, payment of interest on them; payment of other payments to the budget, payment, etc.).

There is a relationship and interdependence between cash and non-cash circulation: money constantly moves from one sphere of circulation to another, cash changes form to accounts in a credit institution and back.

Thus, non-cash turnover is inseparable from the circulation of cash and together with it forms a single money of the same name.

• 11.12.18

  Rosfinmonitoring discovered dubious transactions by officials, including from the “gubernatorial, deputy and ministerial corps,” while analyzing the “Panama Papers.” As part of the fight against corruption, the department proposes to create a system for declaring income and expenses upon divorce, as well as limiting the circulation of cash. Officials often undergo fictitious divorces in order to cover up the acquisition of assets and property and not declare them... 1239

• 28.06.18

  The Ministry of Finance of the Russian Federation is currently not considering introducing a limit on the maximum amount of cash for payments by individuals, the press service of the ministry told RIA Novosti. Earlier, in an interview with RIA Novosti, the head of Rusfinance Bank, Sergei Ozerov, said that the appearance of such a threshold is inevitable, it is a matter of time. He recalled that a few years ago there was a legislative proposal to introduce a maximum threshold for individuals to pay in cash... 7 2467

• 27.06.18

  In Russia, restrictions will be introduced on the maximum amount of cash with which individuals can pay; this is inevitable, says the head of Rusfinance Bank, Sergei Ozerov. The Central Bank and the Ministry of Finance began to discuss the possibility of limiting the amount of cash payments back in 2012. A corresponding bill was even submitted to the State Duma, but it was never adopted due to the onset of a recession in the economy, the collapse of the ruble and a decrease in purchasing power... 1452

• 05.06.18

  As of January 1, 2018, more than 9.5 trillion rubles were in cash circulation in Russia. 957

• 14.05.18

  The Australian government has decided to ban cash payments for goods and services over $10,000 from July 1 next year. So they decided to fight tax evasion and criminal business, the West Australian reports. The Bank of Russia and the Ministry of Finance have been discussing a similar direct restriction on cash payments for large purchases since 2012, but with the onset of the financial crisis the idea was practically forgotten. In her favor... 486

• 22.11.17

  Officials have figured out how to force bloggers and tutors to pay taxes - they propose to reduce the tax and allow paying it through a mobile application, Vedomosti writes. With reference to three federal officials, the newspaper reports that the authorities have abandoned extreme methods of bringing small entrepreneurs out of the shadows, for example, limiting cash payments. Now they are discussing a new way - to introduce the lowest possible tax for the self-employed and... 3654

• 05.06.17

  Deputy Chairman of the Central Bank Olga Skorobogatova called the fastest possible transition to electronic circulation of funds in Russia one of the regulator’s tasks. She stated this during the session “New Markets: Between Freedom and State Regulation” at SPIEF 2017. “I believe that the countries of Sweden, Finland and Norway have absolutely excellent experience, where the share of non-cash transactions is 85-90%. I'm absolutely sure that we will go... 13 4395

• 09.03.17

  The majority of Russians (80%) consider the idea of ​​limiting cash payments to be an infringement of rights, since the non-cash method is not always convenient and each person has the right to choose how to pay; 17% of respondents said that such a restriction would reduce crime in matters of bribery and tax evasion, according to the results of a survey by the All-Russian Center for the Study of Public Opinion (VTsIOM). According to the data provided, the idea of ​​allowing... 1195

• 01.03.17

  Non-cash transactions need to be developed through the introduction of non-cash instruments, rather than limiting the cash payment threshold, says Deputy Chairman of the Central Bank of Russia Olga Skorobogatova. “I believe that non-cash transactions need to be developed through the introduction of competitive non-cash forms of payment and non-cash instruments in combination with a tariff policy that is attractive to citizens,” Skorobogatova said in an interview with RNS. In January 2017, the Minister... 1156

• 27.02.17

  The Ministry of Finance intends to approach the initiative to limit cash payments carefully, Finance Minister Anton Siluanov told reporters during the Russian Investment Forum in Sochi. “We have postponed these issues for now in order to act carefully, without creating imbalances in cash circulation. For now, no proposals in this regard will be implemented either this year or next year,” Siluanov said. Previously... 1120

• 22.02.17

  A vote has ended on our website, during which we asked you to decide how you feel about a possible restriction on cash circulation in the country. The majority (58%) of those voting were against. However, every fifth respondent approves of such an idea. 15% of voters were indifferent to this topic, and 7% did not know at all how to feel about it and chose the option “hard to say.” Let us remind you that after a significant... 998

• 21.02.17

  The decision to limit the use of cash in Russia must take into account the “realities of the country.” Press Secretary of the Russian President Dmitry Peskov told reporters about this, TASS reports. As a Kremlin official noted, similar practices exist in many countries. “Therefore, this issue certainly deserves attention,” Peskov said, explaining that “at the same time, of course, it is necessary to take into account the realities of the country in terms of circulation... 995

• 21.02.17

  The proposals also include a ban on paying salaries in cash and the introduction of a new tax. 16 2395

• 30.01.17

  In the USA and European countries, such restrictions have been introduced for quite a long time, and in different countries their size varies from several thousand to several tens of thousands of dollars or euros. 538

• 24.01.17

  Earlier, the head of the Russian Ministry of Finance, Anton Siluanov, called for returning to the discussion of the issue of reducing cash payments when making large purchases. 1 817

• 24.01.17

  Earlier, Finance Minister Anton Siluanov came up with such an initiative. 446

• 23.01.17

  The head of the Ministry of Labor, Maxim Topilin, called the right idea to limit expensive cash purchases in Russia. The day before, the head of the Ministry of Finance, Anton Siluanov, called for returning to the discussion of this issue. 2 982

• 23.01.17

  The Ministry of Finance suggested “thinking” about a ban on paying for large purchases in cash. The head of the department, Anton Siluanov, announced this at the United Russia party congress. 844

• 28.11.16

  The government is not currently discussing restrictions on cash payments, First Deputy Prime Minister Igor Shuvalov told the NTV channel. He noted that such restrictive measures are also not discussed “neither in parliament nor in the Bank of Russia.” “Perhaps it would be better to study the experience of EU countries, but we will not do this. We need to prove through technology that this method of mutual settlements is more effective and acceptable for citizens.... 630

• 24.11.16

  Izvestia, citing a federal official (whose name was not named), informs about the prospects for implementing the idea of ​​introducing a restriction on cash payments for purchases by Russians worth over 300 thousand rubles. Discussion of the relevant bill in the government is scheduled for 2018, the official said. Therefore, the innovation may come into force in 2019. According to the official, “in the current situation it is better not to pedal this... 942

• 08.09.16

  Cash has been buried for several years now. In July, answering questions from users of the social network VKontakte, the head of Sberbank German Gref said that in the foreseeable future cash will remain, but using it will become more and more anachronistic. However, “papers” still remain the main means of payment for most Russians. 2371

• 30.06.16

  The authorities do not yet plan to introduce restrictions on cash purchases. The head of the Ministry of Finance, Anton Siluanov, announced this at the government hour in the Federation Council. At the same time, he added that the ministry is working on measures to combat “gray” wages. Siluanov noted that control should be not only over income, but also over the expenses of citizens. “Because if a person lives on benefits and has large property complexes, expensive cars,... 862

• 19.11.15

  The Ministry of Finance may return to discussing a phased restriction of cash payments in Russia. This was announced by the head of the financial policy department of the ministry, Sergei Barsukov, speaking at the National Payment Forum in Moscow. However, he clarified that several conditions must be met for this to happen. 4261

• 24.09.14

  The Supreme Court (SC) of the Russian Federation will have to decide how Russian companies should pay salaries to foreigners - in cash or through bank accounts. The volume of cash payments to foreigners in Russia now amounts to up to 30 billion rubles. in year. Rosfinnadzor believes that such transactions should only be carried out by bank transfer, and fines employers. But the courts side with them, noting that the law does not directly prohibit the payment of wages in cash, and the employee is not required to open a bank account. 2076

• 18.06.14

  The rules for cash payments have changed. The main innovation is that for some cash payments, organizations and individual entrepreneurs will only be able to spend money withdrawn from their bank account and deposited into their cash register. 19149

• 12.03.14

  The Russian Ministry of Finance does not rule out that the law limiting cash payments to 300 thousand rubles. will come into force later than previously planned in 2015. Deputy head of the department Alexey Moiseev told reporters about this. “The timing (of the law coming into force), I think, is being delayed. If we introduce the bill (to the State Duma) on December 1, 2014, then it will not come into force in 2015,” the deputy minister said. Moiseev said that now... 8477

• 05.03.14

  The volume of operations to withdraw funds abroad using shadow schemes amounts to 1.5 trillion rubles. in year. This was announced by the head of Rosfinmonitoring Yuri Chikhanchin. “If we talk about the amount of withdrawals abroad, then banks reveal about 1.5 trillion rubles a year through shadow schemes. But I want to say that most of these funds are returned,” Chikhanchin said. At the same time, shadow turnover decreased significantly after the revocation of licenses from some Dagestan... 1104

• 03.03.14

  The Ministry of Finance has suspended the development of a bill limiting cash payments. The project was planned to be submitted to the State Duma, but it was postponed indefinitely. Formally, the reason was the lack of a control mechanism over large transactions between citizens. However, adopting the document now could also limit competition, complicating the already tense situation in the banking market. 3740

• 26.02.14

  The Ministry of Finance advocates reducing the share of cash payments in the public sector. Finance Minister Anton Siluanov stated this at the board of the Federal Treasury. The Ministry of Finance considers this measure very useful, especially considering the fact that the department’s bill to limit settlements with “real” money, first, starting with an amount of 600 thousand, and then 300 thousand rubles, has not yet been adopted. 1828

• 13.02.14

  The Ministry of Finance will soon submit to the government a bill on limiting cash payments, with disagreements from the Central Bank and the Ministry of Economic Development, Deputy Minister of Finance of Russia Alexey Moiseev told reporters. The Russian authorities planned to limit cash payments between individuals and legal entities from January 1, 2014. The Ministry of Finance then announced that it was ready to postpone the introduction of restrictions for several months due to legal difficulties. In theory... 1 3146

• 27.11.13

  Yesterday, at a meeting with journalists, a member of the Federation Council Committee on Budget and Financial Markets, Oleg Kazakovtsev, supported the idea of ​​​​expanding non-cash payments in the Russian economy. This was reported by the press service of the Federation Council. The senator noted that the expansion of non-cash payments will help strengthen the financial discipline of business entities, reduce the number of cases of tax evasion and increase transparency... 3 3793

• 11.11.13

  According to the forecast of the Ministry of Economic Development, by 2025 the increase in nominal wages of the country's population will be 147.2 percent - from the current 30.1 thousand rubles per month to 74.4 thousand rubles. At the same time, inflation growth will be approximately half as much. Moreover, this applies to the “conservative” version of the development of events taken as a basis. In the other two scenarios - innovative and forced - it is assumed that the average salary in Russia by 2025 could reach 84.2... 32 7011

• 07.11.13

  Cash payments in Russia will still be limited. The Ministry of Finance promises to soon resolve all questions that have arisen regarding the bill and submit a finished document to the government, said Zakhar Sabantsev, head of the department for monitoring the banking sector of the ministry, at the National Payment Forum. 18 4445

• 25.10.13

  The Ministry of Finance may postpone for some time the introduction of restrictions on cash payments in the Russian Federation due to legal difficulties. Deputy head of the department Alexey Moiseev told reporters about this. “We have encountered a number of difficulties that make us think about this story. These are legal difficulties and difficulties with supervision,” he explained. The Deputy Minister also noted that this is not a tax law, and it should not enter into... 2728

• 11.10.13

  From 2014, the amount of cash payment will not exceed 600 thousand rubles, and after another two or three years - 300 thousand rubles 11 7414

• 18.09.13

  The regulator believes that it has made life easier for entrepreneurs; businessmen believe that the rules of the game have been unreasonably tightened for them. 2769

• 17.09.13

  The Central Bank of the Russian Federation wants to limit cash payments for individual entrepreneurs (IP) and legal entities (with the exception of credit institutions); the corresponding draft instruction is posted on the regulator’s website. The authorities are seeking to stimulate the growth of non-cash payments in order to reduce the volume of the shadow sector of the economy. The Central Bank wants to give the right to set the maximum limit for limiting cash payments. The Ministry of Finance has been proposing in the spring since 2014... 2 5854

• 26.08.13

  The State Duma proposed a new way to combat alcohol. Deputy Chairman of the Energy Committee Oleg Mikheev (A Just Russia) has prepared a bill that prohibits the sale of alcoholic beverages for cash. According to the deputy, allowing the purchase of alcoholic beverages only with bank cards will allow better control of the market and limit the sale of drinks to minors. The explanatory note to the bill notes that... 20 2291

• 09.08.13

  In the fall, the State Duma will consider amendments to the Ministry of Finance limiting cash payments between citizens and legal entities to 600 thousand rubles from 2014. In the spring, these proposals were rejected by deputies: the relevant State Duma committee refused to consider them due to non-compliance with the rules for introducing amendments. However, experts said that the real reason was the opposition of the Central Bank and retailers to the initiative of the Ministry of Finance. Deputy Minister of Finance Alexey Moiseev told Izvestia about the key objections to the document raised by the regulator and how retail chains that refuse to accept bank cards will be punished. Read further: 1330

• 11.07.13

  The Ministry of Finance of the Russian Federation is ready to abandon the project of vesting the Central Bank with powers to limit cash payments and return to the idea of ​​​​legally limiting them to the amount of 600 thousand rubles from January 1, 2014, Deputy Minister of Finance of the Russian Federation Alexey Moiseev told the Prime agency. Last year, the Ministry of Finance developed a bill according to which all payments between individuals and legal entities in the amount of over 600 thousand rubles must... 2049

• 19.06.13

  The head of the Bank of Russia, Sergei Ignatiev, is skeptical about the Ministry of Finance’s initiative to limit the volume of cash transactions. Last year, the Ministry of Finance developed a bill that sets limits on the volume of cash payments between individuals and legal entities at the level of 600 thousand rubles. Above this limit, payments must be made by non-cash method. Later, the Ministry of Finance proposed lowering the level of restrictions on... 1 1521

• 17.06.13

  The Russian government proposes to give the Central Bank of the Russian Federation the right to establish restrictions on cash payments between individuals, Russian Finance Minister Anton Siluanov told reporters. “During the discussion in the government, together with the Central Bank, it was decided to grant such a right to the Bank of Russia. If this bill is adopted, the Bank of Russia will have the opportunity to determine the boundaries by its decision... 1584

• 27.05.13

  Deputy Chairman of the State Duma Finance Committee Anatoly Aksakov introduced a bill to limit cash payments to parliament. It is proposed to give the right to set the maximum level to the Central Bank. Meanwhile, the Ministry of Finance's bill on similar restrictions has not yet passed the necessary approvals. According to the introduced document, citizens should have the right to choose in what form to pay for goods and services - in cash or using... 2 2314

• 08.04.13

  The share of non-cash payments in the Russian economy needs to be increased, Russian Prime Minister Dmitry Medvedev said at a meeting of the Board of the Ministry of Finance, RIA Novosti reports. He called on “to try to bring this indicator closer to the standards of modern states.” ... 1166

• 02.04.13

  Payment for large purchases in cash must be eliminated in Russia, but this should be done gradually. This opinion was expressed by the head of the presidential administration, Sergei Ivanov, writes RIA Novosti. Previously, the Ministry of Finance of the Russian Federation developed a bill establishing restrictions on the volume of cash payments between individuals and legal entities at the level of 600 thousand rubles in 2014 and reducing it to 300 thousand rubles in 2015. The document passed... 1190

• 06.03.13

  A bill has been developed in Russia that will limit the circulation of cash. In addition to restrictions on cash purchases, company managers will be required to transfer employees to non-cash payments. An exception will be made only if the company employs less than 35 people, and trade enterprises - less than 20. According to the head of the Ministry of Finance Anton Siluanov, restrictions on cash circulation are necessary, first of all, to combat shadow... 1852

• 27.02.13

  The Ministry of Finance of the Russian Federation proposes to lower the limit on cash payments from 2015 to 300 thousand rubles from 600 thousand rubles in 2014, the head of the ministry Anton Siluanov told reporters. RIA Novosti writes about this. Last year, the Ministry of Finance developed a bill establishing restrictions on the volume of cash payments between individuals and legal entities at the level of 600 thousand rubles. Above this level, calculations must... 4 3018

• 16.01.13

  The Ministry of Finance plans to submit to the Russian government a bill by the end of January obliging all trade and service organizations with an annual turnover of more than 60 million rubles to accept bank cards for payment, the Prime agency reports, citing a representative of the ministry. The bill was prepared by the department in the summer. In accordance with it, the obligation of trade and service organizations, including those carrying out... 1750

• 06.11.12

  The bill to limit cash payments for any transactions worth more than 600 thousand rubles, according to proposals from the Ministry of Finance, should come into force on January 1, 2014. Currently, the document has been submitted to the government of the Russian Federation, however, according to Siluanov, the Ministry of Finance has not been able to agree on it with the Central Bank. 2344

• 05.10.12

  Running a business here is not an easy task. The need for cash arises almost constantly, regardless of what the organization does. “No matter how hard you try, you still won’t be able to reduce cash payments to a minimum,” any entrepreneur will say, “situations constantly arise when you can’t go anywhere without them - you can’t get a discount from a large supplier, you can’t get a government contract, or just make renovations in office premises very hard". So our entrepreneurs undertake risky operations, trying to get the coveted free cash for which they do not have to account. 8212

• 31.07.12

  Settlements under loan agreements do not require the use of cash registers 1819

• 23.07.12

  The Ministry of Economic Development has not yet received proposals from the Ministry of Finance of the Russian Federation to limit cash payments to 600 thousand rubles since 2014, Russian Minister of Economic Development Andrei Belousov told reporters. 1032

• 18.07.12

  While the Ministry of Finance is trying to promote a bill to limit payments in “real” money, the Federal Tax Service (FTS) wants to know how to better control cash payments so that the budget receives more taxes. 2278

• 04.07.12

  The Council for Optimization of Payment Turnover under the Ministry of Finance of Russia proposes to reduce fees for mandatory electronic payments. The council believes that limiting commissions will contribute to the country's transition to non-cash payments. Now in Russia the cost of services related to plastic cards is much higher than similar commissions in Europe and the USA, Vedomosti writes. Thus, the Visa system commission in the Russian Federation is 1.3% (in Europe - 0.... 2 1439

• 04.07.12

  In the foreseeable future, it is unlikely that a law will be adopted that would introduce restrictions on the ability to pay for goods and services in cash. 1355

• 18.06.12

  The Russian Ministry of Finance intends to reduce cash payments. One of the proposals is to oblige companies to transfer wages to employees to bank cards. According to the portal Superjob.ru, today 64 percent of companies pay salaries by bank transfer. Moreover, the larger the organization, the more likely it is that its employees are familiar with an ATM: among companies with over 5,000 employees, 91 percent pay salaries... 1206

• 13.06.12

  A draft federal law has been published on the Ministry of Finance website, which obliges trade and service enterprises to provide customers with the opportunity to pay using electronic means of payment, including payment cards. A similar requirement is established for sellers engaged in distance trading (online trading). The new norm does not apply to retail and service outlets that operate without a cash register and an enterprise... 2058

• 06.06.12

  The Ministry of Finance is analyzing the possibility of introducing a recommendation to use non-cash payments when making purchases in the amount of 600 thousand rubles, Deputy Minister of Finance Alexey Savatyugin told reporters on the sidelines of the International Banking Congress. “We need to analyze the consequences of such a ban. Can it be controlled at all and whether it will lead to greater costs than profits,” he said. Earlier about discussing such... 1217

• 31.05.12

  According to Siluanov, the Ministry of Finance is discussing with experts the possibility of non-cash payments for purchases worth over 600 thousand rubles. This was announced by Russian Finance Minister Anton Siluanov in an interview with the Rossiya 24 TV channel. He noted that when making large property purchases, it is more convenient to operate with non-cash funds. In addition, bank transfer is more transparent. This measure will also affect car sales. In the Russian banking system, transfer... 1325

• 30.05.12

  Owners of plastic cards and “electronic wallets” need to master security rules. In the coming years, the number of crimes in this area will increase, the Central Bank warns. Last year, the number of cybercrimes increased by 40 percent, Oleg Krylov, head of the main department of security and information protection of the Central Bank of Russia, said yesterday. It is curious that a representative of the Central Bank announced this at the round table, where... 1005

• 28.05.12

  This opinion was expressed by the First Deputy Chairman of the Central Bank of Russia, Alexey Ulyukaev, on the air of the Ekho Moskvy radio station. “Of course, non-cash payments are better than cash, but for this they need to be in demand, this needs to be convenient for us all,” Finmarket quotes him as saying. According to A. Ulyukaev, it is necessary, first of all, to create a powerful motivation to increase the share of non-cash payments, taking into account already... 3 1725

• 23.05.12

  The state is trying to force companies to pay salaries onto bank cards, and stores to install terminals at checkouts. Last week it became known about a bill prepared by a working group under the Ministry of Finance of the Russian Federation to stimulate non-cash payments. According to federal media reports, the bill provides that organizations with more than 35 employees will be required to pay wages only for... 1437

• 17.05.12

  By the end of May, the Russian Ministry of Finance will prepare proposals for transferring travel expenses to bank cards. This was announced by Deputy Minister of Finance Alexey Savatyugin. “We hope that soon all officials, everyone in general, will have the opportunity to travel abroad with travel cards,” PRIME quotes him as saying. At the same time, A. Savatyugin explained that the innovation can be extended not only to officials, but also to other citizens... 7 2999

• 17.05.12

  This was stated by Deputy Minister of Finance of the Russian Federation Alexey Savatyugin, who said that the Ministry of Finance of the Russian Federation is against the administrative ban on paying wages in cash. According to him, the financial department is currently considering various proposals to increase the volume of non-cash transactions, among which there is a proposal to ban the issuance of cash at the cash desk that has been sent for processing. At the same time, A. Savatyugin emphasized that we are talking about... 3 2569

• 16.05.12

  The effectiveness of introducing a limit on cash payments in the amount of 50 thousand rubles is doubtful, said Chairman of the Central Bank of the Russian Federation Sergei Ignatiev, speaking on Wednesday in the State Duma. He added that he doesn't have much faith in such restrictions. He also considers the amount of 50 thousand rubles too small. According to S. Ignatiev, such a restriction will not affect the reduction of corruption in Russia. He noted that now bribes and kickbacks to officials are carried not only in suitcases, but also... 2 2175

• 16.05.12

  The initiative of the Russian Ministry of Finance to ban payment of wages in cash contradicts the Constitution of the Russian Federation. Anatoly Aksakov, a member of the State Duma Committee on the Financial Market, a member of the A Just Russia faction, reported this on air to the Russian News Service. “The production of cash is quite expensive for the state - billions of rubles. Also, cash held in credit institutions is a resource... 1328

• 15.05.12

  The texts of two bills were at the disposal of our colleagues from the newspaper “Uchet. Taxes. Right". One of them amends Article 136 of the Labor Code: from 2013, salaries can only be transferred to employees’ accounts, and not, as now, by choice - issued at the cash desk or transferred to a card. An exception will be made only for small businesses with no more than 35 employees (for retail trade and consumer services - no more... 25 8547

• 27.04.12

  Payments without the use of cash, according to the Central Bank, account for 19% of the total volume of transactions in Russia. Many experts and representatives of the banking community have been talking for years about the need to increase the share of non-cash payments: about 1% of GDP is spent annually in the country to maintain cash circulation. Not so long ago in Italy, in order to combat tax evasion, a law was passed to limit... 3736

• 10.04.12

  The head of the Federal Treasury of the Russian Federation, Roman Artyukhin, considers it advisable to establish legislative restrictions on cash transactions in a number of areas. “I think that legislative restrictions deserve discussion,” Artyukhin said in an interview with the Prime agency. Speaking about the budgetary sector, he noted that here we should first of all talk about the payment of wages and social benefits, since it is in this area that the level of cash payments... 1020

• 05.04.12

  On April 3, a press conference was held dedicated to the upcoming XXIII Congress of the Association of Russian Banks, “Increasing the role of banks in ensuring economic growth in Russia.” The assembled bankers discussed the pace of development of non-cash payments in the country. Today, the share of non-cash payments via bank cards is only 15 percent of total turnover. To stimulate non-cash payments, business representatives and officials... 1 1132

• 04.04.12

  The Ministry of Finance believes that proposals to limit cash circulation in the Russian Federation should be treated with caution. This was stated by the director of the financial policy department of the Russian Ministry of Finance, Sergei Barsukov, during parliamentary hearings in the State Duma on legal mechanisms for stimulating non-cash money turnover. According to him, “the simplest measures related to limiting the amount of cash circulation, they will indeed be... 1273

• 02.04.12

  Bankers and money transfer market participants are preparing their proposals to stimulate non-cash payments. They propose to give traders tax breaks for the purchase of equipment for making non-cash payments and protect citizens buying goods via the Internet. A new organization, the National Payment Council, is currently developing ideas on this matter, its chairman and executive vice president told RG... 820

• 26.03.12

  The World Bank considers it appropriate to introduce legislative restrictions on the circulation of cash in Russia, WB expert Jem Dener told reporters at a seminar on modernizing the treasury systems of APEC countries. "Of course, if the problem can be solved through some kind of legislation, it should be done to improve the efficiency of the system," Dehner said. According to him, besides Russia, many countries are trying to avoid... 853

• 23.03.12

  Following a meeting on economic issues, Russian President D. Medvedev instructed the Russian Government, together with the Central Bank, to prepare amendments to Russian legislation that will stimulate non-cash payments. The deadline is set as September 1 of the current year. ... 957

• 07.03.12

  Finance Minister Anton Siluanov told Izvestia how to solve the problem of budget expenditures without raising taxes, about subsidies to the regions, capital outflow and attitude towards defense spending ABOUT CAPITAL OUTFLOW AND THE CRISIS - In two months, capital outflow has already greatly exceeded the double-digit figure in billions . Does this worry you, especially against the backdrop of forecasts that the process may intensify? - Capital outflow certainly worries us. IN... 2 1859

• 17.02.12

  The authorities are not giving up hope of reducing cash payments. They should gradually be replaced by bank cards, electronic money and other modern payment instruments. Proposals on how to do this may be announced as early as next week at the Ministry of Finance, where the first meeting of the Interdepartmental Council to prepare proposals aimed at optimizing payment turnover in the country will be held. Recently, we recall, the head of the Ministry of Finance Anton... 1 3281

• 20.01.12

  The authorities may introduce a legislative restriction on citizens' cash payments in stores. This statement was made by Finance Minister A. Siluanov at the Gaidar Forum 2012. According to him, if this proposal is accepted, citizens will be able to make large purchases only with bank cards. The minister recalled that in Russia the share of cash is 25% of the total money supply. In developing countries this... 1 1864

• 19.01.12

  Russian Finance Minister Anton Siluanov considers it possible to introduce legislative restrictions on cash payments in the Russian Federation. “Our share of cash is 25% of the total money supply. This figure in developing countries is about 15%, and in developed countries - 7-10%,” Siluanov said, speaking at the Gaidar Forum. According to him, this is one of the reasons for the high level of the shadow economy in Russia. He reminded... 1642

• 09.09.11

  Federal Tax Service of Russia for Moscow (hereinafter referred to as the Department) in connection with the entry into force on September 1, 2011 of parts 1-22 of Article 9 of the Federal Law of April 21, 2011 No. 69-FZ “On Amendments to Certain Legislative Acts of the Russian Federation,” reports following. In accordance with paragraph 1 of Article 2 of the Federal Law of May 22, 2003 No. 54-FZ “On the use of cash register equipment when making cash payments and (or) settlements using... 4609

• 23.08.11

  Cash payments between companies and individuals will soon be limited. Therefore, it will be possible to issue salaries to employees or accept payments from them for large purchases only through a bank. The Ministry of Economic Development of Russia is in full swing working on the corresponding bill. The changes are aimed at combating “black cash”. Money passing through a bank is easy to track, including for tax authorities. Let us remind you that today there is a limitation... 2912

• 23.08.11

  Activities related to intensive cash circulation are now under special control of banks*. Therefore, they ask almost every client for information and documents confirming where the company gets so much “cash” from. In order not to have to explain yourself about each transaction, you can inform the bank in advance that constant cash payments are natural for the company. A special letter will help with this (see sample). 51214

• 08.12.10

  An organization cannot be held liable for failure to use a cash register if, when making cash payments to a client, the cashier, for objective reasons, did not give him a punched cash receipt (even if the check indicated the wrong time). The arbitrators came to these conclusions in the resolution of the Federal Antimonopoly Service of the Ural District dated October 6, 2010 No. F09-8020/10-S1. 2751

• 22.10.10

  A legal entity purchases equipment from an individual in the amount of 1,500,000 rubles on the basis of a purchase and sale agreement. The individual is not registered as an individual entrepreneur. How to correctly settle a settlement with an individual and reflect the transaction in accounting? Can an organization pay this amount in cash at a time? How to reflect a transaction in accounting? 63740

• 01.06.10

  If a company accepts money under several identical contracts with the same counterparty, then the limit for cash payments - 100,000 rubles - is determined for each of such transactions. The company entered into six supply contracts with the same buyer, the price of each transaction was 99,000 rubles. Counterparties paid each other in cash. During the inspection, inspectors considered that the supplier exceeded the cash payment limit of 100,000... 1359

• 01.10.09

  The Ministry of Internal Affairs of the Russian Federation proposes to introduce restrictions on the circulation of cash in Russia, believing that this will help to more effectively fight corruption. This was stated today in a conversation with reporters by Deputy Minister of Internal Affairs of Russia Evgeny Shkolov. “Cashless payments are certainly easier to control, including as part of financial intelligence work,” he said. But with cash circulation it is more difficult, so it would be good to limit the circulation of cash in... 1106

• 27.08.09

  The right to deduct VAT cannot be lost due to the fact that the cash payment limit established by the Central Bank of Russia has been exceeded. This conclusion was reached by the judges of the Federal Antimonopoly Service of the Volga District in their resolution dated 07/09/2009 No. A55-15897/2008. They explained that Articles 171 and 172 of the Tax Code of Russia list the conditions under which tax can be deducted: the acquisition of goods for carrying out transactions recognized as the object of taxation, its acceptance for accounting and... 3901

• 02.11.06

  The Central Bank of the Russian Federation clarified the status of its recent letter regarding the cash settlement limit 4262