Provisional Regulations On Cash Management: What Is Sitting?

The so-called "sitting" refers to the direct use of cash receipts by enterprises and institutions and organs and organizations from the cash receipts of their units. In accordance with the Interim Regulations on cash management and the detailed rules for its implementation, the unit that pays the cash may pay or withdraw from the cash stock of the entity. Bank of deposit The withdrawal shall not be paid directly from the cash receipts of the unit.

This is mainly due to the fact that banks are unable to accurately grasp the source of cash income and expenditure purposes of each unit, interfere with the management of cash receipts and payments by various banks and disturb the national financial order, so cash sitting is a violation of financial discipline and will be punished by financial discipline.

Sitting is not prohibited. According to the regulations, enterprises, institutions and organs, organizations and units do need to receive cash for special needs. They should apply to the bank in advance to explain the reasons for their application, the purpose and the amount of monthly expected seats. Then the bank will examine the matter according to the relevant provisions. account opening unit The size of the sitting area and the limit of sitting.

According to the regulations, an enterprise can apply for an application in the application for approval of the cash limit, and explain the reason, purpose and amount of the bank's receipt. Apply Approval.

In accordance with the relevant provisions, the units allowed to sit in the main include:

(L) units that sell and purchase units at the grass-roots supply and marketing cooperatives, grain stores, food stores, commissioned stores, and so on.

(2) the post office pays personal remittance on the basis of exchange income.

(3) the hospital refunds the patient's deposit, meals and payment of blood transfusion with income.

(4) business change in restaurants and other service industries.

(5) other units that need to sit in special circumstances.

The unit shall strictly abide by the approved range of seats and the cash limit of the sitting limit of the bank, and shall not exceed the scope and limit, and shall faithfully reflect the unit's cash account. In order to facilitate the bank to supervise the sitting status of the opening unit, the sitting unit shall regularly submit the amount and usage of the branch to the bank.

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In accordance with the Interim Regulations on cash management and the detailed rules for its implementation, the cash management of enterprises, public institutions and organs, groups and units should comply with the "eight prohibits". These eight are not:

(1) it is forbidden to replace cash in cash with documents that do not conform to the financial system.

(2) no cash is allowed between units.

(3) it is not allowed to falsely report the purpose and cash.

(4) it is forbidden to use bank accounts to deposit or withdraw cash for other units and individuals.

(5) no cash in unit income can be deposited in the name of individuals.

(6) it is not allowed to retain public funds outside the account (i.e. small coffers).

(7) it is not allowed to issue currency in disguised form.

(8) no currency shall be allowed to circulate in the market instead of Renminbi.

If an open bank has any violation of cash management "eight prohibits", the opening bank may, in accordance with the Provisional Regulations on cash management, have the power to order it to stop illegal activities and to give a warning or a fine according to the seriousness of the case.