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ACCOUNTS
II. Functioning of accounts
Class 5. Cash and financial instruments

51. Banks, financial and similar institutions

 

Account 511 " Cash equivalents " is debited with the amount of matured coupons, checks and bills for collection as well as discounted bills, by crediting the appropriate accounts.

For each bank account held, the entity uses a separate subdivision of account 512 " Banks ". Accounts with a credit balance cannot be offset against accounts with a debit balance.

Financial bills issued in relation to accounts receivable loans or in relation to assignment of foreign accounts receivable are recorded in sub-accounts of 519 " Short term bank advances ". Accrued interest related to these financing facilities is recorded in a subdivision of account 519.

 

 
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