Modern commercial bank accounting

Author: Book Writing Group
Publisher:
Publish Date: 2004-04-01
Features: Modern Enterprise Accounting Series.
(1) Ticket processing with encoding machine. The ticket clearing machine uses uniformly printed tickets, with a blank magnetic code printing area reserved at the bottom of each ticket. All tickets must undergo individual encoding before being submitted for clearing. Encoding refers to using an encoding machine to print a line of digits in the reserved magnetic code printing area of each submitted ticket with magnetic ink. These digits include ticket number, clearing line number, unit account number, debit/credit code, amount, etc., for the ticket clearing machine to identify. For tickets that do not meet the specified format, they can be encoded by placing them in a dedicated encoding envelope. To facilitate the control of local ticket clearing, the encoding machine is equipped with a dedicated program to distinguish between clearing sessions and achieve batch processing of submitted tickets. After encoding all batches of submitted tickets, the encoding machine automatically prints a summary of submitted tickets and a detailed list of submitted tickets.
(2) Filling out the "Local Ticket Submission Receipt Form" and submitting the clearing. The submitting bank, after verifying that the total amount of submitted tickets matches the amount recorded in its accounting system based on the automatically printed summary of submitted tickets, fills out the "Local Ticket Submission Receipt Form." Along with the summary of submitted tickets, the detailed list, and all submitted tickets for this clearing session, it is placed in a clearing bag and sealed before being submitted to the ticket clearing office.
(3) The ticket clearing office receives and clears the submitted tickets. After receiving the submitted tickets from various submitting banks, the staff of the ticket clearing office check and confirm that the total amount, batches, and number of tickets on the summary and detailed list of submitted tickets are correct. They then sign and complete the handover procedures on the "Local Ticket Submission Receipt Form." Subsequently, the ticket clearing machine automatically identifies the magnetic codes on the tickets, prints clearing records on the back of the tickets, and sorts them by the submitting banks. The cleared tickets are placed in the respective boxes of the receiving banks. Additionally, the data for the tickets passing through the ticket clearing machine is settled, balanced, and a "Local Ticket Clearing Fund Difference Report Form" is generated, which prints detailed lists of the receiving banks. The staff of the ticket clearing office then review the cleared tickets in the boxes of the receiving banks, along with the "Local Ticket Clearing Fund Difference Report Form" and the detailed lists of receiving tickets, sort them by the receiving banks, and place them in clearing bags before sealing them. They are held until the submitting banks send personnel to collect them within the specified time.
(4) The receiving bank collects the returned tickets and processes the accounting. The receiving bank, after sending personnel to the ticket clearing office to collect the sealed returned tickets within the specified time, verifies the submitted and returned amounts on the "Local Ticket Clearing Fund Difference Report Form" and checks whether the amount of returned tickets matches the amount on the detailed list of returned tickets. It then examines the relevant content of the tickets in accordance with the payment and settlement regulations and processes the related accounting. The funds for the submitted and returned tickets by commercial banks are settled through the reserve deposit accounts with the People's Bank of China (excess reserve deposits). In actual practice, the submitted and returned tickets are not always directly accounted for under the "Deposits with the Central Bank" account. Instead, they are first recorded in corresponding transitional accounts (such as other receivables/payables accounts or local ticket clearing accounts) before being ultimately settled as clearing differences and transferred from the transitional accounts to the "Deposits with the Central Bank" account. The accounting treatment is as follows: