Traditional Culture Encyclopedia - Traditional stories - How do companies generally settle their purchases or sales?
How do companies generally settle their purchases or sales?
bank transfer
A monetary fund settlement method that transfers money directly from the payer's (or individual's) bank account to the payee's (or individual's) bank account through a bank.
Bank transfer settlement refers to the monetary fund settlement method of transferring money directly from the bank account of the payer (or individual) to the bank account of the payee (or individual) through the bank without using cash.
function
According to the provisions of the bank settlement method, all enterprises, institutions, organs, organizations, military units and other goods transactions, labor supply, capital allocation, credit transactions, etc., except those that can be settled in cash according to the Provisional Regulations on Cash Management. They should be settled by bank transfer in accordance with the provisions of the bank settlement method. The reason why the state encourages the implementation of bank transfer settlement is because:
(1) The implementation of bank transfer settlement is conducive to the state's regulation of currency circulation. The implementation of bank transfer settlement and the replacement of cash circulation with bank credit receipts and payments have enabled cash to be used only for businesses below the settlement starting point and within the scope of cash expenditure, narrowed the scope and quantity of cash circulation, separated a large amount of cash from the circulation field, and created conditions for the state to organize and regulate cash circulation in a planned way and prevent and curb inflation.
(2) the implementation of bank transfer settlement is conducive to speeding up the turnover of materials and funds. Bank transfer settlement is realized through the centralized liquidation of funds by banks. By using various settlement vouchers and bills, the bank can directly transfer funds from the payer (or individual) to the payee (or individual) in the bank account. Regardless of the size, complexity and distance of the payment, as long as it is above the settlement starting point, it can be handled in time through banking institutions. The procedure is simple, which saves the procedures of cash transportation, counting and storage, which is convenient and fast, thus shortening the liquidation time and speeding up the turnover of materials and funds.
(3) The implementation of bank transfer settlement is conducive to gathering idle funds and expanding the sources of bank credit funds.
Due to the implementation of transfer settlement, all the funds temporarily unused by each unit are deposited in their bank accounts, and these funds have become one of the important sources of bank credit funds. In addition, transfer settlement is implemented. In the settlement process, the payer has paid, but the voucher is still in transmission, so the payee has not yet entered the account. The in-transit funds thus formed are also the source of bank credit funds.
(4) The implementation of bank transfer settlement is beneficial for banks to supervise the economic activities of various units. With the implementation of transfer settlement, most of the income and expenditure of each unit are settled by bank. Through centralized transfer settlement, banks can fully understand the economic activities of all units, supervise all units to conscientiously implement financial discipline, prevent illegal acts, and promote all units to better abide by financial laws and regulations.
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