Many people are interested in the question: KS - what is it in the details? Organizations engaged in financial activities open correspondent accounts with the Central Bank of the Russian Federation or other structures conducting financial activities. The correspondent account number that each bank has is freely available on official portals and in the branches themselves. Using a correspondent account, it is easy for employees of the same Sberbank to understand how solvent the bank in question is, whether it is a debtor or bankrupt. If the account is zero or negative, transferring funds to other institutions is impossible. Checks of bank correspondent accounts mentioned above and operations on them can only be carried out by the Central Bank of Russia, auditors and very large depositors-investors.
Correspondent accounts are needed to reflect ongoing settlements and record the property of financial institutions. K/s is so called due to the name of the agreement between banks - “correspondent agreement”.
How mutual settlements are made between banks
Having understood what a bank correspondent account is, it is worth following the processes of mutual transfers between financial organizations. Basically, such activities are carried out among different banks and legal entities. The procedure for mutual settlements is carried out through cash settlement centers. RCCs were created and supervised by the Central Bank of the Russian Federation. As for correspondent accounts, it is also possible to carry out mutual settlements through them on the basis of contracts concluded between financial institutions bypassing the Central Bank.
Banks open accounts with the Central Bank of the Russian Federation
There are no fees for servicing a correspondent account, as well as interest charges. But payments only go through when there are sufficient funds on the balance. The correspondent account balance must be replenished within 5 days in order not to fall into the category of debtors. Otherwise, the bank's operations may be suspended. In practice, there are cases of revocation of licenses from such institutions by the Central Bank.
RCC provides daily reports to banks on the status of their savings. Based on this, financial institutions provide their clients with statements of manipulations performed that day.
Accounting 10 in accounting - regulatory nuances
In the accounting of any enterprise, inventory accounting plays an important role. After all, the cost of the product/service and, as a consequence, the final result of the activity depend on how correctly the inventories are capitalized and then written off, according to Order No. 94n of October 31, 2000, it is used to summarize data on the quantity and movement of materials, raw materials, spare parts , fuel, containers, equipment, household supplies and other valuables of the organization, including those in processing and/or in transit.
Accounting for materials on account 10 “Materials” is carried out at accounting prices using account. 15, 16 (clause 80 of order No. 119n dated December 28, 2001) or at actual cost (clause 62 of order No. 119n). The chosen method must be fixed in the accounting policy of the enterprise. Document flow can be carried out using unified forms or using your own forms if the latter contains all the necessary details. Write-off on account 10 (postings are given below) is carried out in one of the legally approved ways (clause 16 of PBU 5/01) - at the average cost, at the cost of each individual unit, using the FIFO method.
Thus, the 10th account in accounting provides accurate accounting and control over the movement of all current assets. In the balance sheet of the organization (form according to Order No. 66n dated 07/02/10) as of a given reporting date, the balances of inventories are reflected on line 1210 of Section II of the Asset. Analytical analysis of account 10 is carried out in the context of product names, batches, warehouses of the enterprise, and divisions.
What is a cash account in bank details
This is an opportunity for a credit financial institution to open a bank account. What is a bank correspondent account? This is a large cell into which funds are deposited for distribution to the balance sheet of other structures and enterprises. As a rule, there are several correspondent accounts. Therefore, exactly the required cash account is specified in the bank details.
It turns out that transfers to other financial organizations are possible only with an active account. The accruals themselves pass through correspondent accounts of credit institutions. Cash accounts are opened in divisions of the Bank of Russia settlement network.
According to the structure, the c/s is divided into blocks. How many numbers? There are only 20 of them. From the first to the third, the number of the balance account of the first order is determined. Up to the fifth – the same, but 2 orders of magnitude. The eighth is the code of the currency used. Further:
- The 9th digit is a control character.
- From 10 to 17 – bank account values.
The last digits mean the bank's BIC.
Account purpose
This is an accounting of the creditor’s funds, which means the need for mutual settlements with the bank. The account must be valid at all times so that the Central Bank employees cannot classify the financial institution as a debtor.
Types of correspondent accounts
By type, cash registers are divided into:
- LORO. This is an account that a correspondent opens for his respondent. Loro is visible in the liabilities side of the bank balance sheet.
- NOSTRO. The respondent's balance at the correspondent bank. The first one displays it in the asset.
- VOSTRO for foreign banks. They are opened in local currency or monetary units of another country.
Correspondent account is an important banking detail
What are mid-frequency queries?
It is generally accepted that mid-frequency or mid-frequency requests are those that are requested by users from 1000 to 10,000 times during the month. These data are quite average: for each individual niche, the range of midrange frequencies can differ significantly. These differences are especially noticeable when comparing commercial and information queries.
Novice webmasters mistakenly believe that average-frequency queries are invariably average-competitive, but this is not always the case. For example, if you compare the queries “what is a chord” and “buy a guitar inexpensively,” then the second key will be much more difficult to advance, despite the fact that both of them are of medium frequency. The point is that the first request is purely informational, but the second is commercial. Considering that the latter type of requests is focused on generating income, the competition will be significant. In this case, competition should be analyzed along with frequency.
MF queries are positioned as the “golden mean”, and it is mandatory to promote your web project using them. In the future, you will have every chance of being at the top of search results.
Difference between correspondent and current accounts
The correspondent account contains the entire set of current accounts generated by the bank. C/s is the main one in this system. It is tied to an entire region. A current account is a more personal concept. With its help, they transfer and receive loans, make salary calculations, and pay fines according to decisions of the highest authority.
Entrepreneurs have several current accounts, but there should be one main one. The r/s structure also has 20 digits. The first 10 are identical in type to c/s. From 10 to 13 – the value of a specific bank branch, and up to 20 – the personal account code.
Cash account makes it possible to carry out transactions with money not only for banking institutions, but for everyone without exception. Another important difference: loans and credits are not issued on cash registers.
Count 10 – active or passive?
The mathematical characteristics of account 10 “Materials” show that the increase in the number of inventories occurs by debit in correspondence with production cost accounts - 20, 28, 29, 25, ; release of finished products/goods – , , 41, ; calculated – , 76, 67, 66, 71, 75, ; on capital accounting – 80, 86; and also the final ones – 91, 99, 97.
The disposal of inventories is carried out on the basis of supporting primary documentation for the credit of account 10 - in accounting, entries are generated in correspondence with accounts: 10, , 20, , 28, 29, 25, 26, 45, 44, 79, 80, 76, 94, 99 , , 97. Based on the above, account 10 is active, with the formation of a debit balance.
How to find out the cash price on a current account
It is impossible to do this only by settlement account. You need to know in which bank the correspondent account is opened and its full name. However, it is easy to clarify the contract by making a request to the bank or using the Sberbank business online system.
When filling out the documents, you will need all the details and, if you do not have a correspondent account, you can go to the official portal of the financial institution and find the line “Details”. Another way is to call the bank’s socialists on the hotline or go directly to a branch of this bank.
When an entrepreneur fills in the details in a special form, the program is designed so that when the BIC is entered, the correspondent account appears automatically. By the way, the C/S numbers are not kept secret, they are quite easy to find out.
What will serve as the basis?
The most important question: what document is the basis for drawing up?
There may be two options for compiling:
- KS-2.
- KS-3.
Let's consider the procedure after signing KS-2. The procedure consists of two stages: according to the Decree of the State Statistics Committee of the Russian Federation dated November 11, 1999 No. 100, after acceptance of the work and issuance of the act, a KS-3 certificate is issued. The amount recorded in it includes the price of the work according to the estimate, adjusted and recalculated to the actual volume, and expenses not related to production (VAT) are also included in the certificate. To make final payments, an invoice is drawn up . As noted for five days. Read more about why an invoice is needed for both sellers and buyers here.
The five-day period for generating documentation starts precisely from the date of signing the certificate of completion, so when drawing up the document in question, you need to start from KS-2.
But what document should you use to generate an invoice? There are a number of pitfalls in this issue:
- The act of completed work, unlike KS-3, does not provide for the allocation of VAT as a separate line. Therefore, in order to avoid questions from the tax office, it is recommended to write out No. KS-3 separately for each No. KS-2. And accordingly, it is convenient to prepare an invoice using form No. KS-2.
- There may be several acts.
This happens when acceptance occurs in several stages. To simplify the procedure, it is possible to issue a general KS-3 for several KS-2, which will characterize the total cost under the contract for any period. It is advisable to detail the total amount in the certificate. If two acts of KS-2 cover an indivisible result (for example, plastering the walls and their subsequent painting), a common invoice is allowed.
You can also read other materials on our website related to invoices:
- What is the difference between an invoice and an invoice?
- What is an invoice and an invoice, what is the difference between these documents, and how to fill them out?
- Is it possible to accept a zero invoice?
- What is an invoice and a universal transfer document?
- In what cases and when are invoices and delivery notes issued?
- Is there a stamp on the invoice?
- Savings due to tax deductions - invoice for individual entrepreneurs.
- Features of cancellation.
- All information about invoices for imported and exported goods.
- Features of document registration and storage at the enterprise.
