Operational financial management - a set of organizational, methodological and technological tools that provide financial management of the organization in the short term (from 1 day to 1 month) and the current provision of financial transactions. In contrast to the budgeting system, operational financial management plans payments in a more detailed form (by counterparty and purpose of payment) and uses more detailed planning periods.
Purpose
The main purpose of the system is to provide short-term liquidity of the organization. The main tool is the payment calendar (daily plan of receipts and payments with a minimum period of 1 day).
Revenues and payments are planned based on applications generated by customer units. After checking for compliance with the established limits, the declared payments are included in the payment calendar. Balanced by the amounts of receipts and payments, the payment calendar is the basis for the formation of the register of payments and its transfer for execution.
Features
One of the features of the payment calendar is its constant updating. If there is a lack of funds to satisfy all applications received, the rules for ranking payments are used depending on their type and priority level. Procedures and techniques for operational financial management are regulated by the Regulation on the operational management of finances and the Rules of the process.
See also
- Finance