Еconomic essence and reflection in the accounting of electronic money in modern conditions

Abstract

In today's world, the development of technologies has led to changes in the payment system and contributed to the emergence of electronic money. The essence of electronic money as a means of payment, without the use of bank accounts, has been studied. The main characteristics of electronic money are analyzed, in particular the following: electronic money is a unit of value; electronic money is a means of payment; electronic money is a monetary liability of the person issuing it; electronic money is an object of civil rights; electronic money is stored on an electronic device; electronic money can only be issued by a bank; circulation of electronic money is limited by a certain payment system. Four main classification features of electronic money are considered, which are determined by both economic and non-economic factors of their use (by type of medium; by type of storage technology; by degree of anonymity; by size of payment). On the basis of the conducted research, it was asserted that for the functioning of non-cash payments, clear regulation by regulatory and legal acts is necessary. The method of accounting display of transactions with electronic money is analyzed, taking into account the elements of the accounting method. The procedure for documenting transactions with electronic money at all stages of their life cycle for merchants and users has been studied. A comprehensive approach to the construction of a method of accounting display of transactions with electronic money is proposed, which ensures the formation of the necessary information for different groups of users. Measures are proposed that will contribute to the continuous development of cashless circulation in our country: a set of NBU measures, banks' policy to increase the attractiveness of cashless payments, state policy aimed at increasing the demand for cashless payments. The study has implications for practicing accountants, financial analysts and managers operationally involved in e-finance and e-commerce. Thanks to a comprehensive approach and up-to-date analysis, the article contributes to the understanding of the essence and prospects of the development of electronic money in the modern economic environment.