New rules for generating payment orders

Starting June 1, 2020, companies and entrepreneurs, when paying wages and (or) other income, are required to indicate in the payment orders a new code for the type of income. The procedure for specifying the type of income code is established by the Bank of Russia. It is necessary to code all payments to both employees and contractors. Thus, revenues from which it is impossible to withhold debts on a writ of execution will be reflected. In case of incorrect indication of codes of type of income in settlement documents, risks of a delayed payment of wages to employees are possible.

Our experts will help you issue payment orders correctly, monitor compliance with current legislation, and calculate salaries and other payments to employees on time and without errors.