Exchange is a settlement method in which the remittance unit entrusts a bank to remit funds to the receiving unit in a different place.

According to the different methods of transferring money and the different delivery methods, remittance can be divided into two types: letter transfer and wire transfer, which are chosen by the remitter. Letter remittance is a type in which the remitter applies to the bank and deposits a certain amount and handling fee. The remitting bank sends a letter of authorization to the remitting bank by mail, authorizing the remitting bank to pay a certain amount to the payee. Exchange settlement method. Wire transfer is a remittance method in which the remittance depositor deposits a certain amount of money with the remitting bank, and the remitting bank transmits it to the branch or agent bank of the destination (remitting bank) via telegram or telex, instructing the remitting bank to pay a certain amount to the payee.

Among the two exchange settlement methods, letter transfer has lower fees but is relatively slow, while wire transfer has the advantage of being fast, but the remitter has to bear higher telegraph and telex fees, so Usually only applicable in emergencies or when the amount is large. In addition, in order to ensure the authenticity of the telegram, the remittance bank adds the password agreed upon by both parties on the telegram; while the letter remittance does not need to add a password, just sign.

Exchange settlement has a wide range of applications, simple procedures, flexibility and convenience, so it is currently an extremely widely used settlement method.

First, for exchange settlement, whether it is a letter transfer or a wire transfer, there is no limit on the starting amount, and it can be used regardless of the amount of money.

Second, exchange settlement is a settlement method for the remitter to actively pay to a different place. It is very convenient for adjusting funds between different superior and subordinate units, clearing old debts, and settling current accounts. The exchange settlement method is also widely used in the transaction settlement method of remittance first and then shipment. If the sales unit lacks understanding of the credit status of the purchasing unit or the goods are in short supply, the purchasing unit can be asked to remit the payment first and then ship the goods after receiving the payment to avoid not receiving the payment. Of course, when the purchasing unit adopts the transaction method of remitting money first and then shipping the goods, it should have a detailed understanding of the credit status and supply capacity of the selling unit to avoid blindly remitting the money but not receiving the goods. If you lack understanding of the sales unit's financial situation and supply capacity, you can remit the money to the purchasing place, open a temporary deposit account at the purchasing place, and send someone to supervise the payment.

Third, in addition to the transfer of funds between units, the exchange settlement method can also be used by units to pay relevant amounts to individuals in different places, such as retirement wages, medical expenses, various labor fees, author remuneration, etc. It can also be applied to relevant payments made by individuals to units in other places, such as mail-order goods, books and periodicals, etc.

Fourth, the exchange and settlement procedures are simple and easy for units or individuals to handle.

17. How to handle remittance under the exchange settlement method?

The remitter entrusts a bank to handle the remittance, and should fill in a letter and wire transfer voucher to the remitting bank, detailing the remittance location, name of the remittance bank, name of the payee, remittance amount, and purpose of remittance (military products You can skip filling in) and other contents, and stamp the reserved bank seal on the second page of the letter or wire transfer voucher. It should be noted that:

(1) When the remittance unit needs to send someone to the remittance bank to collect the remittance, in addition to writing the name of the withdrawer in the "Payee" column, it should also write in the "Account number or Please indicate "Leave a message for collection" in the "Address" column. For remittances left to be collected, if a specific payee needs to be designated to receive the remittance, the name of the payee's unit should be indicated.

(2) If self-employed economic households and individuals need to withdraw cash from the remittance bank, they should first fill in the word "cash" in the capital column of "remittance amount" on the letter or wire transfer voucher, and then immediately after it Enter the remittance amount in capital letters.

(3) If the remitter determines that transfer is not allowed, he should indicate it in the "Remarks" column.

(4) If the remittance requires the beneficiary unit to withdraw with its seal, the fourth page of the credit transfer voucher should be stamped with the bank seal reserved by the beneficiary unit.

If wire transfer is used, the cashier of the remittance unit should fill in a four-part "Credit Transfer Voucher". The first page (reply note) of the "remittance voucher" is the response note given to the remitter by the remittance bank after accepting the credit transfer voucher; the second page (payment voucher) is the transfer payment when the remitter entrusts the account-opening bank to handle the remittance. Payment voucher; the third copy (receipt voucher) is the receipt after the remittance bank has paid the money into the payee's account; the fourth copy (collection notice or withdrawal receipt) is after the money is directly credited to the payee's account A collection notice notifying the payee, or a withdrawal receipt by which the payee can claim the money if it is not directly credited to the payee's account.

The wire transfer voucher is in triplicate. The first copy (reply slip) is the remittance receipt to the remitter; the second copy (payment voucher) is the payment voucher for the transfer payment handled by the remitting bank. ; The third copy (power generation basis) is the evidence for the remittance and incoming bank to send a telegram.

The basic formats of letter transfer vouchers and wire transfer vouchers are roughly the same, as shown in Table 5-9.

Table 5-9 China ×× Bank Credit Transfer (Telegraphic Transfer) Voucher (Reply) 1

Entrustment Date Year, Month, Day No.

Payee Full name Full name of the remitter

Account number or address Account number or address

Name of the remittance bank in the province, city, or county of the remittance location Name of the remittance bank in the province, city, or county of the remittance location

Amount RMB (in capital letters) One Hundred Hundred Thousand Hundred and Ten Yuan Cents

Remittance Purpose Year, Month, Date Stamped by the Bank of Remittance

The above amounts have been processed according to the entrustment, if you need to inquire , please bring this receipt to the interview. Unit supervisor, accounting, review, and bookkeeping

After the remittance bank accepts the remitter’s letter and wire transfer voucher, it should review them according to regulations. The contents of the review include: whether the contents filled in the letter and wire transfer voucher are complete and correct; whether there is sufficient deposit balance in the remitter's account; whether the seal stamped by the remitter matches the reserved bank seal, etc. After the review is correct, you can go through the remittance procedures. The first reply will be stamped with a "transfer" stamp and returned to the remittance unit, and a handling fee will be charged according to regulations. If the conditions are not met, the remitting bank will not handle the remittance procedures. Process refunds.

The remittance unit prepares accounting vouchers according to different situations based on the letter returned by the bank and the first copy of the wire transfer voucher. If the remittance unit uses remittance to clear old debts, it should prepare a bank deposit payment voucher, and its accounting entries are:

Debit: Accounts payable - ×× unit

Credit: Bank Deposit

If the remittance unit makes an advance payment to purchase the other unit's products, a bank deposit payment voucher should be prepared, and the accounting entries are:

Debit: Advance payment

Credit: Bank deposit

If the remittance unit remits the money to the place of purchase and opens a temporary deposit account at the bank at the place of purchase, a bank deposit payment voucher should be prepared, and the accounting entries are:< /p>

Debit: other monetary funds - deposits from other places

Loan: bank deposits

Example: Dasheng Company entrusted the bank to wire transfer in order to purchase goods in a certain city. Remit 86,000 yuan to a bank in the city and set up a temporary purchasing account. The bank charges a handling fee of 35 yuan according to regulations and deducts it from the account. The finance department prepares the bank deposit payment voucher based on the first page of the remittance voucher returned with the bank's seal. The accounting entries are:

Debit: other monetary funds - overseas deposit 86,000

Loan : Bank deposit 86,000

At the same time, a bank deposit payment voucher will be made according to the handling fee charged by the bank. The accounting entries are:

Debit: Financial expenses 35

Loan: bank deposit 35

18. How to receive remittance under exchange settlement method?

According to regulations, the money remitted to the beneficiary unit with an account opened by the bank should be directly transferred to the account of the beneficiary unit. If the credit transfer method is used, the bank where the beneficiary unit has an account (i.e. the remittance bank) stamps the fourth page of the credit transfer voucher with a "transfer" stamp and hands it to the beneficiary unit, indicating that the remittance has been credited by the account opening bank on its behalf. If wire transfer is used, the bank where the beneficiary's account is opened shall prepare a triple bank telegram transfer receipt supplementary statement based on the telegram sent by the remitting bank, stamp a "transfer" stamp on the third page as a collection notice, and hand it to the beneficiary unit. Indicates that the bank has deposited the funds on your behalf. The receiving unit prepares a bank deposit receipt voucher based on the fourth page of the credit transfer voucher (receipt transfer) transferred from the bank or the supplementary receipt receipt telegram (telegraphic transfer) from the bank, debiting the "bank deposit" account and crediting the relevant account ( Depends on the nature of the remittance). If the other party's remittance is used to repay old debts, the accounting entries of the payment voucher of the receiving unit are:

Debit: bank deposit

Credit: accounts receivable

If it is an advance payment made by the other party to purchase the company's products, the accounting entries of the receipt voucher are:

Debit: bank deposit

Credit: advance collection When the payment is actually shipped, a transfer voucher will be prepared based on the relevant original vouchers. The accounting entries are:

Debit: advance payment received

Credit: product Sales revenue (or product sales revenue, etc.)

If the goods are shipped as soon as the payment is received, the receipt voucher can also be prepared directly, and the accounting entries are:

Debit: bank deposit

Loan: product sales income (or commodity sales income, etc.)

If cash needs to be withdrawn from the remittance bank, the "remittance amount" column on the credit transfer (or wire transfer) voucher must indicate " "Cash", the payee can fill in a debit form together with the fourth page of the credit transfer voucher (or the third page of the supplementary declaration form for debit transfer), and bring the relevant identity documents to the remittance bank to withdraw money. The remittance bank will handle the cash payment procedures in one go after reviewing the relevant documents. If the word "cash" is not written on the remittance voucher and the unit needs to withdraw cash from the remittance bank, the remittance bank will make the payment in accordance with the regulations on cash management.

For remittances left in the bank to be withdrawn, the payee should carry his or her ID or proof from the relevant unit at the place of remittance that is sufficient to prove the payee's identity to the remittance bank for withdrawal. The remitting bank will ask the payee about the situation, check it with the letter or wire transfer voucher, and annotate the name, number, name of the issuing unit, etc. in the blank space of the letter or wire transfer voucher, and the payee will stamp the "Payee" Sign or stamp at "Zhang", and then go through the payment procedures.

If the payment is made with a seal, the seal stamped by the payee must be the same as the reserved seal.

If the payee needs to withdraw the remittance in installments at the place of remittance, the payee can open a temporary deposit account at the remittance bank, temporarily deposit the remittance into the account, and withdraw the remittance in installments. The temporary deposit account can only be withdrawn but not deposited. The account will be cleared after payment, and no interest will be paid.

19． How to handle transfer under the exchange settlement method?

When the remitter needs to transfer money because the required goods are not available at the place of remittance, etc., he can wait for the withdrawal notice and relevant documents, request the remitting bank to go through the letter or wire transfer procedures again, and remit the money to other places. According to regulations, the payee and purpose of the remittance must be the payee and purpose of the original remittance. Go through the remittance procedures at the remittance bank and stamp the "Transfer" stamp on the remittance voucher. If the remark column of the third-party credit transfer voucher indicates "no transfer", the remittance bank will not handle the transfer.