1) receipt of cash in the currency of the Russian Federation for settlements in the Russian Federation in accordance with the procedure established by the Bank of Russia related to the economic activities of a legal entity in the Russian Federation, as well as to pay expenses associated with the business trip of employees of the relevant legal entities within the Russian Federation, in the currency of the Russian Federation;
2) non-cash payment of expenses in the currency of the Russian Federation related to the business trip of employees of the relevant legal entities within the Russian Federation;
3) non-cash transactions in the territory of the Russian Federation related to the main activity of a legal entity, in the currency of the Russian Federation;
4) non-cash transactions on the territory of the Russian Federation related to the economic activities of a legal entity, in the currency of the Russian Federation;
5) non-cash payment in the currency of the Russian Federation of expenses of a representative nature in the territory of the Russian Federation;
6) non-cash payment of expenses related to the business trip of employees of the relevant legal entities to foreign states, in foreign currency;
7) non-cash payment of entertainment expenses in foreign currency outside the Russian Federation;
8) receipt of cash in foreign currency outside the Russian Federation to pay for the expenses associated with the business trip of employees of the relevant legal entities to foreign states.
When performing transactions specified in subparagraphs 1-5 of this paragraph, in the currency of the Russian Federation, it is allowed to write off funds from the accounts of resident legal entities in foreign currency.
In cases where settlements in foreign currency are allowed for legal entities by the currency legislation, when making transactions in foreign currency specified in subparagraphs 6-8 of this paragraph, funds may be debited from the accounts of resident legal entities in the currency of the Russian Federation. In this case, the foreign currency acquired by the issuer at the expense of the client's ruble accounts for the subsequent settlement of transactions made in foreign currency is not credited to the current currency account of the client - the owner of the ruble account.
Funds debited from the account of a legal entity as a result of the transactions specified in subparagraphs 1, 2, 4 - 8 of this paragraph are considered issued by the legal entity against the report of the corporate card holder. The return of unspent funds is carried out in accordance with applicable law.
· receive cash Russian rubles for settlements on the territory of the Russian Federation related to the economic activities of a legal entity on the territory of our country, as well as to pay expenses associated with business trips of employees in Russia;
· to receive cash foreign currency outside the Russian Federation to pay expenses for business trips abroad;
· carry out non-cash payment of expenses in Russian rubles associated with the business trips of employees within the Russian Federation, and in foreign currency - on business trips abroad;
· carry out non-cash transactions on the territory of the Russian Federation related to the main activity of a legal entity, in Russian rubles;
· make non-cash payments in Russian rubles for expenses of a representative nature on the territory of the Russian Federation and in foreign currency - outside of Russia.
It should be noted that most often organizations use plastic cards to pay for hospitality and travel expenses. You can especially appreciate the convenience of using bank cards when sending employees on business trips abroad. Moreover, this is beneficial both for individuals traveling abroad (there is no need to carry cash with you, in addition, the time for organizing a business trip is significantly saved) and organizations, since there is no need to open a foreign currency account to purchase cash. In accordance with Regulation No. 23-P, when funds in Russian rubles are debited from a client's account to pay expenses in foreign currency, the foreign currency acquired by the issuing bank at the expense of the client's ruble accounts is not credited to his current foreign currency account.
Note!
Funds debited from the account of a legal entity as a result of the transactions specified in subparagraphs 1, 2, 4 - 8 of paragraph 4.6 of Regulation No. 23-P are considered issued by the legal entity against the account of the corporate card holder. Return of unspent funds is carried out in accordance with applicable law.
The amount of remuneration that the bank charges for servicing a special card account in the organization's accounting records in accordance with paragraph 11 of PBU 10/99 "Organization's expenses", approved by Order of the Ministry of Finance of the Russian Federation dated May 6, 1999 No. 33n "On approval of the Accounting Regulation" Expenses of the organization "PBU 10/99" (hereinafter - PBU 10/99), are operating expenses and are accounted for in the debit of account 91.2 "Other expenses". In tax accounting, the amounts of remuneration withheld by the bank for servicing a special card account are taken into account when taxing profits in full in accordance with the Tax Code of the Russian Federation.
It should be noted that the correct organization of analytical accounting for the sub-account "Special card account" is of great importance.
Analytical accounting for this sub-account should be organized in the context of specific card accounts opened in a particular bank. In addition, analytics is significantly affected by the conditions for issuing and using corporate cards offered by the bank. So, for example, when concluding an agreement with a bank, the bank puts forward the condition that there is a minimum balance on the organization's account (an insurance deposit that can be used for settlements in exceptional cases to cover the excess of the payment limit). It would be expedient to use sub-accounts of the second order "Special card account - minimum balance" and "Special card account - payment limit".
Note!
Let's look at an example of how transactions using a corporate settlement card are reflected in the accounting of an organization.
In this example, the costs of holding an official dinner in a restaurant are organizations that, in accordance with clause 5 of PBU 10/99, are expenses for ordinary activities. In the accounting of trade organizations, hospitality expenses are accounted for as part of distribution costs with their reflection on account 44 “Sales expenses”.
The basis for recognition of representation expenses in this example are the settlement documents issued by the restaurant.
For the calculation of income tax, representation expenses related to the official reception and maintenance of representatives of other organizations participating in negotiations in order to establish cooperation are taken into account as part of other expenses related to the production and implementation of the Tax Code of the Russian Federation). Recall that for the purposes of tax accounting, hospitality expenses are subject to rationing. According to the Tax Code of the Russian Federation, hospitality expenses during the reporting (tax) period are included in other expenses in the amount not exceeding 4% of the taxpayer's labor costs for this reporting (tax) period. In this example, for the reporting period (6 months), the organization can take into account entertainment expenses in the amount of 32,000 rubles (800,000 x 4%) as part of other expenses. Therefore, if the organization had no other entertainment expenses, then the payment for an official dinner in a restaurant can be taken into account for profit taxation purposes in this reporting period in full.
The amount of VAT paid to the restaurant can be deducted in full on the basis of the Tax Code of the Russian Federation after the funds are debited from the organization's current account and if there is an invoice issued by the restaurant of the Tax Code of the Russian Federation).
In accounting, the organization will reflect this by the following accounting entries:
| Account correspondence | Amount, rubles | ||
| Debit | Credit |
||
| Issued under the report to the employee of the organization a settlement corporate card for payment of hospitality expenses. |
|||
| Settlement corporate card was returned by the accountable person |
|||
| Recorded receipt of cash |
|||
| Reflected the cost of holding a formal dinner in a restaurant |
|||
| Reflected the amount of VAT from the cost of the official dinner |
|||
| Money debited from a special card account based on a bank statement |
|||
| Accepted for VAT deduction from restaurant services. |
|||
Note!
In the event that the amount of hospitality expenses exceeds the standard established by tax legislation, then for tax purposes, the organization can only accept the normalized amount of hospitality expenses as expenses.
The amounts of "input" value-added tax on normalized expenses are accepted for deduction in the amount corresponding to the specified norms. This provision is established by the Tax Code of the Russian Federation.
Note!
The use of account 57 “Transfers on the way” by the organization is due to the fact that slips and receipts are received by the accounting department and processed until an extract is received on a special card account, confirming the debiting of funds from the account of a legal entity.
We have already drawn attention to the fact that the funds debited from the account of a legal entity under the operations of subparagraphs 1, 2, 4 - 8 of paragraph 4.6 of Regulation No. 23-P are considered to be issued against a report to a corporate card holder. In addition, the cardholder can use the payment card directly to withdraw cash. Such an operation in accounting is reflected as follows:
Using borrowed funds in its activities, the borrower organization must be guided by the Order of the Ministry of Finance of the Russian Federation dated August 2, 2001 No. 60n “On Approval of the Accounting Regulation “Accounting for Loans and Credits and the Costs of Their Servicing” PBU 15/01”. In accordance with paragraphs 16 and 17 of the said document:
"16. The organization shall calculate interest on received loans and credits in accordance with the procedure established in the loan agreement and (or) credit agreement.
17. Indebtedness on loans and credits received is shown taking into account interest due at the end of the reporting period to be paid in accordance with the terms of the agreements.
In the accounting of the borrowing organization, the amount of interest accrued for the use of borrowed funds is included in operating expenses (based on paragraph 11 of PBU 10/99) and is reflected in account 91 “Other income and expenses”.
Note!
Tax legislation classifies the amount of interest on debt obligations of any kind as non-operating expenses of the Tax Code of the Russian Federation). Moreover, Chapter 25 “Corporate Income Tax” provides for a special procedure for classifying interest on debt obligations as expenses accounted for for tax purposes, which is established by the Tax Code of the Russian Federation.
The maximum amount of interest recognized as an expense is taken: either equal to the refinancing rate of the Central Bank of the Russian Federation, increased by 1.1 times - when registering a debt obligation in rubles and 15% - for debt obligations in foreign currency, or equal to the amount received for debt obligations on comparable terms .
The return of the received loan and the payment of accrued interest is reflected in the credit of the cash accounts in correspondence with the account ().
Example.
In January, a trade organization entered into an agreement with an issuing bank to receive and service a corporate credit card. The issuing bank, in accordance with the agreement, provided a loan in the amount of 224,200 rubles for a period of 4 months at a rate of 16%. The organization has paid for goods held for resale using this corporate credit card.
The amount of borrowed funds transferred to the bank
In the considered example, the issuing bank, in accordance with the terms of the agreement, initially transferred the loan amount to a special card account of the client. However, this is not the only option that allows you to pay with borrowed funds using a corporate credit card.
Civil law allows for a situation where, in accordance with a bank account agreement, the bank makes payments to the client, despite the absence of funds in the current account, that is, short-term crediting of the account is made (Article 850 of the Civil Code of the Russian Federation). This type of loan is called an overdraft. An overdraft may occur if the bank finances settlements using a credit card, making transactions that exceed the client's payment limit.
When making payments using corporate credit cards, it is necessary to distinguish between a stipulated overdraft and a non-provided one.
If the parties, when concluding an agreement for the issuance and maintenance of a credit card, provided for the possibility of an overdraft, the conditions for its provision, repayment periods and interest, then such an overdraft is considered provided.
It is revealed, as a rule, upon receipt of an extract from the bank. Since an overdraft is a type of short-term loan, it is reflected in accounting using an account. Having received an extract from the bank, and having identified an overdraft, the accountant must reflect it in the accounting. The date of occurrence of the overdraft is the date when the bank made the payment from its own funds. In this case, the following posting is made in accounting:
Debit 55 "Special accounts in banks" sub-account "Special card account" Credit 66 "Settlements on short-term loans and borrowings". Interest accruing on the stipulated overdraft is interest on the use of borrowed funds and is accounted for in the usual way.
However, if, when concluding an agreement for the issuance and maintenance of a corporate credit card, the parties did not provide for the possibility of short-term lending in case of exceeding the payment limit of the card, then in case of exceeding the payment limit, a so-called unforeseen overdraft occurs. In this case, the bank has the right to demand from the organization that allowed the unforeseen overdraft reimbursement of its expenses and the amount of interest for the use of other people's funds (Article 1017 of the Civil Code of the Russian Federation). Interest is charged for the use of other people's funds in accordance with the requirements of Article 395 of the Civil Code of the Russian Federation. In accordance with the requirements of civil law, interest for the use of unjustly received funds is calculated from the moment when the organization learned about the unjustified receipt of them. That is, at the time of receipt of an account statement, which will reflect the cost overrun.
For more information on issues related to accounting and taxation of transactions carried out using plastic cards, you can find in the book of CJSC "BKR Intercom-Audit" "Settlements using plastic cards".
A corporate card is a classic product issued by a financial and credit organization. It is directly linked to the account number of a legal entity and is used to cover expenditure areas that are related to the direct work of the enterprise. "Plastic" cannot be used for settlement transactions for wages. In fact, this is an analogue of finance issued on the basis of a report. It can act as a credit card or be debit in nature. What a corporate card is for, what options are assigned to it, and how to apply it in practical work - all this will be covered in the material.
A corporate card helps pay for the needs of the company
What is it and what is it used for
We have already said that a corporate card product is directly related to the account of a legal entity and is a non-cash analogue of money issued by the company's management. Using this tool, you can carry out settlement actions in the process of covering two directions of costs.
Core work expenses
- settlements with suppliers of commodity items and with contractors;
- travel expenses and hospitality expenses;
- payment for the services of counterparties that are related to the main line of business.
Overhead and housekeeping costs
This group includes several classic trends that are worth taking into account:
- purchase of stationery;
- payment for the use of software and training tools;
- courier delivery and postal services;
- other business areas.
It's important to know
Taxpaying enterprises should understand the fact that expenses financed by means of a corporate bank card can be accepted for tax accounting only if they have regulations and carry documentary evidence based on the Tax Code of the Russian Federation.
You can familiarize yourself with the terms of the card on the bank's website
What are the benefits of using corporate cards
There are plenty of advantages that the use of such products implies:
- Reducing the costs of the operating plan, which are directly related to the issuance of accountable monetary values. Companies no longer have to go to the bank to get cash.
- No need to buy foreign currency for foreign business trips or open a foreign currency account. In addition, you will save yourself from the urgent need to draw up declarations during the customs crossing. The money will be withdrawn from the account of the organization by automatic conversion into the currency of the country in which the owner resides.
- Possibility of management. Chance to set a card limit. Option to connect messaging alert service. All this contributes to the control of spending money and the possibility of direct tracking of all transactions.
- Making payment transactions for impressive amounts. According to the instructions of the Central Bank, settlement transactions in cash between different entities can only be carried out if the amount does not exceed 100,000 rubles. By means of a card, they will be non-cash in nature and assume the absence of any restrictions on amounts.
- It will not be difficult for you to go shopping on the Internet and carry out settlement actions without any problems.
- Regardless of the storage of funds on the account of the organization, you will have access to them around the clock, and you will also gain the opportunity to receive cash in special machines.
- The user acquires a unique opportunity to attach all corporate cards to one account, which is equipped with one spending limit for all employees of the company.
- If suddenly the card happened to be lost, not a penny will go away from it, provided that it is blocked in a timely manner. You will reduce the risk of loss or theft of cash by several times and save your own savings.
- In addition, the use of this card can be a good alternative to using a checkbook.
Based on the type of card that the client has chosen, as well as the specialized program, it is possible to receive certain types of benefits and discounts.
Sample corporate card
Conditions for the design of "plastic" corporate type
So we looked at what it is, and what features you will encounter when owning a similar product. In order for clearance events to open for you and become possible, several key conditions must be met:
- provide a list of employees of the organization who will use this product, as well as have available all the applications submitted by them and entrusted paper from the organization itself;
- conclude appropriate contractual relations with a banking organization;
- engage in opening a card current account by providing the necessary list of documentation;
- report that the card has been issued to the relevant tax authorities, having done this within a 7-day period from the date of the agreement, otherwise penalties will follow, which is stipulated in Art. 118 of the Tax Code of the Russian Federation;
- when closing an account, it is also necessary to report this to the relevant government services and structures.
As for the main conditions under which the issue is carried out, on average, financial institutions charge funds for the annual maintenance of products of the order of 1,000 - 1,500 rubles. The number of cards that can be linked to an open account is set by each financial institution on its own, and in some cases there is no limit at all. Some institutions, providing their clients with a preferential list of conditions, choose to set a minimum balance, which traditionally ranges from 3 to 10 thousand rubles.
What else needs to be considered in the process of opening a card
Despite some of the difficulties of compiling and designing, a corporate bank card is actually a useful and convenient tool that contributes to the rational organization and full control of expenditure areas for the main work of the organization and economic costs. In order to go through the procedure for registering a product, it is necessary to engage in the conclusion of an appropriate agreement related to the maintenance of corporate cards, which display data about potential users.
You can pay by card in stores and online.
Applications of employees filed specifically for the issuance of cards and powers of attorney from the organization should be attached to this contract paper. In order to open an account, due attention should be paid to the collection of the optimal documentation package. Their list is common for many banks, but may vary depending on the individual situation. The possible number of cards to open is determined at the level of a banking organization, and may vary based on special conditions.
In average Russian financial institutions, the annual service of one corporate card is equal to 1,000 rubles per year. For example, in Avangard bank this figure is 900 rubles, and on a Gold class card - 2,000 rubles. In the St. Petersburg Industrial Bank of Shares, maintenance of the product per year will cost 1,000 rubles. And in some Moscow banks, servicing cards of this class is even more and equals under 2,000 rubles.
What conclusion can be drawn from the above nuances
So we looked at what a corporate card is and how you can use it. The expenditure areas of the organization, associated with a key activity, act as a key element in the work of any company. In order to carry them out as conveniently as possible, financial structures have created this unique tool. It allows the company to solve a vast number of tasks and is fraught with a lot of positive aspects. The cost of maintenance is traditionally calculated on an annual basis and is in the range of 1-2 tons of Russian rubles. Some rates and conditions are strictly dependent on which card and which bank you have chosen for yourself.
A corporate bank card is a modern mobile payment method that allows employees to make purchases and pay bills for the benefit of the organization almost anywhere and anytime. We tell you what corporate bank cards are, how they differ from ordinary ones, as well as the procedure for issuing and using them.
What are corporate cards
Employees constantly have to pay for something on behalf of and in the interests of their organizations: hospitality and travel expenses, bills from suppliers, utilities, office supplies, travel tickets, etc.
In order not to pay such expenses at their own expense, employees are forced to apply to the cash desk of the organization for the issuance of accountable amounts of money, as well as submit reports on funds already spent. At the same time, the established paragraphs 5 and 6 of the Instruction of the Central Bank of the Russian Federation dated 07.10.2013 No. 3073-U, the limit on the issuance of funds from the cash desk under one agreement (100,000 rubles) must be observed.
Cheat sheet on the article from the editors of BUKH.1C for those who do not have time
1. Corporate card - a type of debit and credit bank cards, which allows employees of the enterprise to independently pay for hospitality, travel and other expenses directly related to the economic activities of the organization.
2. Money on a corporate card is the money of the organization itself, and when using the card, money is automatically spent from its current account.
3. Corporate cards are debit and credit, registered and bearer, ruble and currency.
4. Organizations are not required to inform the tax authorities and non-budgetary funds about the issuance of corporate cards.
5. Corporate cards can be used both for cash withdrawals and for non-cash payments.
6. The organization independently approves the procedure for reporting on money withdrawn and transferred from a corporate card.
Thus, the standard issuance of money under the report is associated with well-known inconveniences: time costs, paperwork and restrictions on the amount of money. A much more convenient and modern alternative to this method of issuing money to employees is the use of corporate bank cards.
A corporate card is a type of debit and credit bank cards that allows employees of an enterprise to independently pay for hospitality, travel and other expenses directly related to the business activities of the organization.
The money on such a card is the money of the organization itself, and when using the card, money is automatically spent from its current account. Alternatively, from a card account to which a corporate card is linked. Therefore, corporate cards often have a limit on withdrawals and spending in order to prevent large waste.
The right to use corporate cards may have one employee of the organization (for example, the chief accountant), or several. Typically, corporate cards are held by the director, accountant, secretary, as well as those employees whose activities are related to regular business trips.
Corporate cards are of the following types:
Debit- the organization's own funds are used in the calculations. At the same time, it is possible to connect an overdraft - if own funds have run out, the bank provides organizations with borrowed funds in a certain amount.
Credit- employees withdraw and pay with the money not of the organization itself, but with borrowed funds belonging to a credit institution.
Also, cards can be registered(issued to a specific employee and can only be used by him) and bearer cards(non-named, it is allowed to pay and withdraw money from such cards to any person presenting the card for payment).
In addition, there are ruble and currency corporate cards. Registration of the latter is justified, in particular, if it becomes necessary to pay expenses related to foreign business trips of employees.
Registration of corporate cards
The procedure for issuing and receiving corporate cards is regulated by the Regulation of the Central Bank of the Russian Federation dated December 24, 2004 No. 266-P "On the issue of payment cards and on operations performed using them." Registration of corporate cards is carried out by banks on the basis of the relevant application of the organization.
A corporate bank card is not a bank account, but is only a means of payment (clause 1.12 of the Regulations of the Central Bank of the Russian Federation of December 24, 2004 No. 266-P). Therefore, the establishment of a corporate card is possible only if the organization has existing bank accounts. It is impossible to get a card without a valid account.
A corporate card can be linked both to an existing current account, and a separate account can be opened for such a card. If an organization opens a special card account, the money on it will be kept autonomously and independently of the money in the current account. Several corporate cards can be linked to one account.
Organizations are not required to inform the tax authorities and non-budgetary funds about the issuance of corporate cards. However, they are not required to notify about the opening of card accounts, since this obligation was abolished by Federal Law No. 52-FZ of April 2, 2014.
When opening a card account for a corporate card, an application for its opening (on behalf of a legal entity) is usually accompanied by an extract from the Unified State Register of Legal Entities, a statement from the future corporate card holder about issuing a card, his passport, as well as a power of attorney for the card holder with the right to dispose of funds on the card. A specific list of documents is established by the bank.
The bank also offers to set certain limits on debiting money from the card. Individual limits can be set for each card. They can be permanent or temporary. For example, by agreement with an organization, a bank may prohibit corporate card holders from debiting more than 10,000 rubles a week from a card.
Corporate cards
What do you think hinders the widespread use of corporate bank cards?
Use of corporate cards
Corporate cards can be used both for cash withdrawals and for non-cash payments. At the same time, in order to carry out these operations, employees do not need to write any application, and the management issues a separate administrative document (clause 6.3 of the Directive of the Central Bank of the Russian Federation of March 11, 2014 No. 3210-U). It is not required to transfer money from the bank to the cash desk of the enterprise and issue them under the report. When withdrawing cash from a corporate card, it is also not required to transfer this money through the cash desk.
Money with the help of a card can be withdrawn and transferred to another account by the employee himself at any time if the need arises. A special case of such a need is a business trip.
Going on a business trip, an employee using a corporate card can pay for travel tickets, fuel, hotel rooms, canteen and cafe services, as well as all related hospitality expenses. In addition, in the presence of a foreign currency corporate card, an employee who is outside of Russia can freely withdraw foreign currency from such a card.
All money debited in this way from the corporate card is automatically considered issued to the seconded employee for reporting. An employee returning from a business trip only needs to report on the costs incurred in the unified form No. AO-1.
At the same time, it is not required to draw up reports on all cases of spending funds from the card. The legislation does not contain such rules. Therefore, the employee has the right to provide a single advance report for all cases of withdrawing and spending money from the card. Provision of supporting documents (cash receipts, travel tickets, etc.) takes place in the general manner.
The organization independently approves the procedure for reporting on money withdrawn and transferred from a corporate card. The frequency of delivery of such advance reports to the accounting department is also established by the organization itself, taking into account the nature of its economic activity.
To be able to use a corporate bank card, an employee must have a registered corporate card or be on the list of employees of the organization entitled to use non-named corporate cards. This list is approved by the head of the organization.
As a general rule, due to the very essence of a corporate card, it is not allowed to use it for the following purposes:
- payment of salaries to employees;
- payment of benefits and compensations to employees;
- purchase of goods and services for personal purposes not related to the economic activities of the organization.
But this rule does not mean that money from a corporate card cannot be used for the above purposes. In fact, they can, since the legislation does not contain any restrictions on the use of corporate cards. At the same time, withdrawing money from the card for purposes not determined by the needs of the organization itself must be properly processed. So, to pay salaries, an accountant can withdraw money from a card and deposit it into the cash desk of an organization using a cash receipt order.
Employees can also use corporate cards for personal purposes (it will not be possible to track and prevent this in time), but this results in waste. It must be replenished at the expense of the employee's salary.
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Both large enterprises and representatives of small and medium-sized businesses often incur expenses associated with entrepreneurial activities, because without them the normal functioning of a business is simply impossible. Moreover, all expenditure and income transactions must be carefully monitored by accountants and reflected in accounting documents. And, for example, in large enterprises, its manager has to finance several departments that pay for certain goods and services. It is for the convenience of settlements that banks offer corporate cards. Next, we will talk about what a corporate card for legal entities is.
What it is
A corporate bank card of a legal entity is, in simple terms, bank plastic linked to the entrepreneur's current account. In fact, it is physically not much different from the usual plastic cards for us, but nevertheless, it has several of its own features, as well as its own special purpose. Using a corporate card, employees have the opportunity to pay for goods and services for the needs of the enterprise in Russia or abroad.
Please note that the corporate card is not intended for the transfer of wages and social benefits.
Why should a company issue a bank payment instrument? In fact, this is an integral payment instrument, because any company performs any debit transactions almost every day, and each of them is accompanied by a large document flow, which makes the work of an accountant difficult. A payment bank card linked to a current account of a legal entity makes it possible to simplify the settlement system and track all expenses more efficiently.
By the way, it is impossible not to note the fact that an entrepreneur can issue several non-named bank cards for several employees, while each card will be tied to one main account, and when carrying out debit transactions, funds will be debited from the general current account of a legal entity. In addition, the manager can set a certain limit for each individual card.
One hundred is a corporate card: definition
Why use payment plastic legal entities
The reason for issuing payment cards for each company, of course, is different. But still, the use of corporate bank cards may be required in the following cases:
- expenses of seconded employees;
- entertainment expenses;
- payment for utility services;
- settlement with suppliers;
- payment for stationery;
- payment for other services related to economic activity.
As you can see, a corporate card is a universal tool with which you can pay for goods and services. That is, in fact, this is the same payment instrument used by most individuals, but only corporate cards are intended to pay not for the personal needs of employees, but for the economic needs of the enterprise.
Corporate credit card: service features
The range of financial services of banks is quite wide, both for individuals and legal entities, respectively, each entrepreneur, at his own request, can issue a debit card or credit card. Accordingly, a debit account is easier to process because it does not provide for a credit limit, respectively, all expenses will be carried out within the balance of the entrepreneur's current account.
A corporate credit card is issued at the personal request of a legal entity. A card with a credit limit allows you to pay for the current expenses of the enterprise at the expense of the bank's credit funds. The credit limit is set by the financial institution for each client individually, the average turnover for the billing period is taken into account. Accordingly, the credit limit cannot exceed the amount of monthly receipts on the card.
By the way, legal entities, as well as physically, undertake to pay interest to the bank for using the credit limit.
Registration of a corporate card
So, if your company needs a plastic payment instrument, then you can easily open it in a commercial bank. As an issuer, you should choose the financial institution where you have a current account. By the way, it is worth immediately determining the circle of officials who will receive payment plastic, that is, those employees of the company whose job responsibilities are related to debit transactions. For example, the card, as a rule, is needed by the director and his deputy, the chief accountant and other officials.
So, first of all, in order to get plastic, you need to contact the bank and write an application for issuing a card. By the way, the bank offers several products for corporate clients, including various types of plastic cards. Before making the right choice, you need to carefully study the service fees, account replenishment methods, limits, interest rates for credit cards, currency conversion conditions, validity period and other nuances.
By the way, if a representative of the board of an enterprise issues several cards linked to one account, then he needs to collect the data of all employees who will use plastic in the future. That is, you need to provide the passport data of employees to the bank.
Please note that no later than 7 days after receiving the plastic, you must report the opening of an account to the tax office.
Features of use
The procedure for using corporate cards must be approved by the company's management. Therefore, it is recommended to create a regulation on the procedure for using corporate cards. These provisions must contain several information:
- list of permitted operations on a plastic card;
- limit on monthly expenses for each individual employee, depending on his job duties;
- the period during which the employee uses the payment instrument;
- the procedure and terms for submitting a report for expenditure transactions;
- a list of documents that the employee is required to provide as a report for expenses;
- providing a receipt for the protection of access data to the card account (keeping the PIN code secret);
- responsibility for violating the rules of the regulation.
Please note that the rules for opening and using card accounts for legal entities are regulated by law, namely the Labor Code, the Tax Code, the Federal Law and the provisions of the Central Bank.
Let's give an example, when opening a card account at an enterprise, a representative of the board must issue an order, on the basis of which a certain list of officials will use the payment card on duty. Employees of the company must familiarize themselves with this order, who, in turn, must submit an application to the management for the issuance of plastic cards for the implementation of certain expenses. In addition, the accountant must keep a journal in which he will keep records of the acceptance and issuance of payment cards to certain employees, indicating the amount of expenses and the purpose of payments.
It should be noted that the bank, at the end of the month, is obliged to provide cardholders with a report on the movement of funds, that is, on income and expenditure transactions.
And finally, pay special attention to the fact that company employees are required to provide a full report on the expenses incurred. Accounting documents include invoices, cash receipts, sales receipts, documents that will indicate the intended use of funds. By the way, it is not forbidden to withdraw cash from a payment card, the only caveat is that for the use of these funds you also need to provide a full report in the form of payment orders, cash and sales receipts. Those employees who misused the funds should be punished as follows, the amount of funds for which the report was not submitted to the accounting department will be deducted from the employee's salary.
Use of corporate cards
accounting entries
The accountant must carefully monitor all income and expenditure transactions in the company. Today, accounting is carried out in a specialized program 1C. According to the established rules, accounting entries for corporate cards are recorded in a specialized account number 55. For plastic cards, the entries will look like this:
- Dt 55.04, Kt 51 - receipt of funds on the card account;
- Dt 71.01, Kt 55.04 - expense operation;
- Dt 91.02, Kt 55.04 - commission fee in a financial institution.
Benefits of payment corporate cards
First of all, it should be noted that a payment card is a universal payment instrument that can be used in Russia and abroad. This is especially true for enterprises that often send their employees abroad. Indeed, in this case, they do not need to exchange currency to pay for goods and services in foreign currency, the conversion is carried out automatically.
Plastic corporate cards also have other clear advantages:
- There is no need for the management or an official of the company to contact the bank each time in order to receive the necessary amount for certain expenses, including when arranging a business trip for employees.
- Servicing corporate cards is cheaper than a commission for receiving money from a bank.
- It is enough to open one card account in the bank and receive several payment cards for employees who, on duty, perform debit transactions for the needs of the company.
- Thanks to plastic cards, it is easy to track the expenses of employees.
- There are several ways to replenish a card account, including remotely using Internet services.
- With the help of bank cards, you can receive cash at any time of the day, since ATMs work around the clock, but bank branches operate on a certain schedule.
- In the presence of a corporate card, the procedure for receiving funds by employees greatly simplifies the work of accounting, to receive cash it is enough to receive a plastic card against a receipt, the procedure for issuing cash is longer.
- Finally, the last advantage is security, because the funds on the card account are reliably protected from fraudulent actions by third parties, they are almost impossible to steal, even if the card is lost, and it is easy for it to block and reissue.
By the way, the main advantage of the card is that it is enough to contact the bank once and write an application for issue in the future within 3 years, you can use it without additional visits to financial institutions. Then, after the expiration date, you can order a new plastic.
Thus, it will be obvious for every entrepreneur what corporate cards are for. They allow you to carefully track the expenses of employees, reduce the time for the procedure for issuing cash for spending transactions. In addition, it will be easy and fast to get bank plastic in any commercial bank.
With the development of banking and financial technologies, as well as with the appearance of bank cards, it has become much easier for our population to use money, paying for various services and goods using plastic. What is a corporate bank card?
Corporate bank card is
Bank corporate cards are the best solution for any enterprise, for controlling the company's funds, as well as for the convenience of calculating and paying, buying services and goods for the needs of a company or organization.
Generally speaking, from the bank's point of view, corporate cards are practically no different from ordinary cards. And they are also tied to a bank account. True, the account itself does not belong to an individual, but to a legal or current account of an enterprise.
Typically, cards are issued and opened to an individual who is primarily an employee of the organization. At the same time, the card itself can be linked both to the main account of a legal entity and to other accounts of the company.
How to issue and receive a corporate card?
Almost all banks provide an opportunity to issue corporate cards. In order to get these cards you need:
Corporate program from Sberbank- Enterprise or legal the person concludes an agreement with the bank on the creation of corporate cards. As well as for a legal entity, there must initially be some kind of current account of the company; without such an account, corporate cards cannot be issued.
- Next, you need to provide the bank with a list of employees who will use the cards. Employees will need to apply for a card. And from the company, a power of attorney is required to use the bank account, since the account belongs to one person.
- If you do not yet have an account, then you can immediately open it at the bank, using an application and the necessary documents from the company or individual entrepreneur.
What is a corporate card for, and what are they?
The bank can issue three types of cards:
- A corporate credit card is one that uses the funds of the bank itself, but in terms of an agreement with an enterprise.
- A debit corporate card is a bank card that is already directly linked to the current account of a legal entity. Under the contract, you can limit the use of funds to individuals and insert a daily limit, as well as a monthly limit.
- A debit corporate card with an overdraft is still the same debit card, only with the ability to use bank funds with a negative balance.
Why do you need a corporate card? Employees with corporate cards can freely or in limited quantities use company funds to pay for:
What are the benefits of using corporate cards - expenses for the company.
- Purchases of household goods.
- Travel expenses.
- Withdrawal and use of cash in the country and abroad.
- Payment for taxis and public transport for employees.
- Reducing the time for issuing funds through the cashier.
- Reducing the risk that money will be stolen or lost. If an employee has lost the card, then she can immediately block it and inform the organization about it
- If an employee travels to another country, then there is no need to change the currency and issue it through the cashier. On the card, it is automatically converted into the desired currency in the country. It is possible to open a separate currency account.
- With the help of corporate cards, you can make purchases and transfers on the Internet. This greatly simplifies the process and saves a lot of time.
- Ability to control costs for each employee. The accounting department, as well as the authorities themselves, can set limits for each card, as well as geolocation settings. For example, you can set the settings so that an employee can spend a certain amount of money per day, as well as a ban on buying on the Internet or in another city or country.
Most importantly, corporate cards make it possible to more correctly control and track the company's funds. All transfers, as well as purchases and expenses, are reflected in the register of the bank and accounting, it is easier to track both receipts and expenses on the account.
But at the same time, an employee of the organization must keep all receipts and statements of costs for reporting to the organization. Be sure before issuing such cards, a clear regulation of the organization on the use of corporate cards must be written. It should spell out all the rules, from restrictions and limits, to rules and the provision of checks and evidence of accounting.
If the employee for debiting funds or for any expense did not keep the check, lost it and did not provide it to the accounting department, then this is considered a gross violation of the regulations and the employee will have to pay this amount in the future. Usually, the write-off comes from the salary.
Corporate cards and tax
A company, organization or legal entity, when opening a bank account, as well as when signing an agreement on the issuance and execution of corporate cards, must notify the inspection about this within 7 days from the date of opening or signing the agreement.
Conclusion
As you can see, corporate cards are very convenient for any enterprise, it is control over each employee, it is the convenience of using one account, as well as protection against theft and loss of cash.