Each company is obliged to conclude a cash balance limit with the servicing bank. Only the amount of the set limit can be stored in the cash register. If during the check it is found that the funds exceed the amount of the limit, then a fine will be issued in double the amount of the excess.
Instructions
Step 1
Agree with the bank serving your company the amount of the cash balance limit. If you are served by several banks, then select the bank of your choice. All other banks must be informed about the amount of the limit and the bank with which this limit is agreed.
Step 2
To calculate the limit, you need to take the amount of cash receipts for the last three months. Calculate your average daily revenue. To do this, divide the amount of three-month revenue by the number of days for which it was received. And to calculate the average hourly revenue, divide the amount received by the number of working hours.
Step 3
Then calculate the costs. Salaries, scholarships and benefits are not included in the calculation. Divide the amount of expenses by the period of these expenses. You will get the average daily amount of expenses.
Step 4
Based on the costs and terms of collection, calculate the cash balance limit. Set a limit for the normal operation of the enterprise before the collection deadline.
Step 5
Enterprises located at long distances from the bank, with the impossibility of daily collection, are allowed to set a balance limit equal to several days, depending on the timing of the delivery of proceeds.
Step 6
It is better to indicate the amount of the limit in a larger amount than the difference between the average daily revenue and the average daily expenses. The goal of the enterprise is to win back as much of the limit as possible. The bank gives the final decision.
Step 7
In calculating the limit, you must indicate the purpose of its use. The document is drawn up in two copies. Each copy is signed by the head and chief accountant of the enterprise. In the section - decisions of the bank, the head of the bank signs and the seal of the bank.
