What Is a Fiscal Agent?

Fiscal authorized payment refers to the budget unit issuing payment instructions to the correspondent bank according to the authorization of the financial department. According to the payment instruction, the correspondent bank will pay the funds through the single treasury account system within the amount of the budget unit approved by the financial department. Payer account. Expenditures subject to fiscal authorization include special expenditures for which temporary fiscal payments have not been implemented, sporadic expenditures in public expenditures, and withdrawal of small amounts of cash. ^[1]

Financially authorized payment

Completion of financial authorization payment order:

Financially authorized payment is

Financial authorization payment instructions:

The financial authorization payment instruction means that the budget unit fills in a set of digital authorized payment information in the "additional information" column of the check or in the "additional information and use" column of the exchange certificate as the payment instruction when handling the financial authorization payment business.

The correspondent bank handles the fund payment through the zero balance account of the budget unit based on the digital authorized payment information. If the budget unit does not fill in the financial authorization payment instruction or is issued in excess of the financial authorization payment limit

1. Application and release of credits

The budget unit compiles the monthly payment plan in accordance with the prescribed time and procedure, and applies for financial authorization to pay the payment amount. After approval by the financial department,

Financial authorized payment basic business:

Withdraw cash

Budget units can use cash through financially authorized payment methods. Amount of cash spent, according to

Accounting for financially authorized payments:

In order to calculate the funds authorized for financial payment, a zero balance account amount,

How to fill in the financial authorization payment instruction:

In 2007

The filling of financial authorization payment instructions has changed,

Matters needing attention in the management of financially authorized payment funds:

1. Authorized payment limit can be used cumulatively within one year

In principle, the budget unit can only issue a payment order within the limit of the cumulative use of the month, and cannot advance the authorization of the next month in advance.

2.The budget unit pays the financial authorization to pay the amount,

One cheque corresponds to one budget subject. When filling out the financial authorization payment order, it must be complete, clear, and must not be altered.

3. The premise that the payment settlement certificate cannot be issued.

The agency budget unit shall not issue payment settlement vouchers without the payment instruction information. When the correspondent bank receives the payment settlement voucher without specifying the payment instruction information, it shall notify the budget unit to fill in. If the budget unit cannot be notified and the advance fund is caused, the budget unit shall pay interest in accordance with regulations.