Account 513 of the general accounting plan records transactions passing through postal checking accounts. Its position in class 5, between account 512 (Banks) and account 514 (Treasury postal checks), often creates confusion, even among experienced practitioners. We clarify its exact scope and practical implications here.
Account 513 and account 512: a nomenclature distinction maintained by the PCG
The ANC regulation 2014-03 maintains a clear separation between account 512 Banks and account 513. Account 512 accommodates movements related to traditional credit institutions. Account 513, on the other hand, tracks flows associated with postal checks, that is, accounts opened with La Banque Postale (or historically CCPs).
This distinction is surprising because, in practice, La Banque Postale has a full banking license. However, we observe that the nomenclature of the PCG has not merged the two accounts. Any entity holding a postal checking account must therefore isolate it in 513 and not drown it in a sub-account of 512.
To delve deeper into the subject, you will find useful information on BusiBoost that details the definition and connection of account 513 within the framework of the chart of accounts.
Account 514, for its part, concerns Treasury postal checks, used by public accountants. Confusing 513 and 514 amounts to mixing private treasury and public treasury in the entries.
Accounting operation of account 513: debit, credit, and expected balance
Account 513 operates like any cash account in class 5. It is debited during receipts (incoming transfers, check deposits) and credited during disbursements (supplier payments, direct debits).
Its normal balance is debit, reflecting the funds held in the postal account. A credit balance indicates either an authorized overdraft or an allocation anomaly that needs to be addressed without delay.
Common entries on account 513
- Receipt of a customer payment: debit of 513 by credit of account 411 (Customers) to recognize the inflow of funds into the postal account.
- Payment to a supplier by postal transfer: credit of 513 by debit of account 401 (Suppliers), with the transfer reference in the description.
- Internal transfer between bank and postal account: debit of 513 and credit of 512 (or vice versa), possibly passing through account 580 (Internal Transfers) to secure the tracking of inter-account flows.
The use of account 580 during transfers between 512 and 513 is not anecdotal. It ensures that a date value discrepancy does not generate a duplicate or a gap in the consolidated treasury.
Bank reconciliation of account 513: periodic control practice
The accounting balance of account 513 does not necessarily reflect the cash actually available in the postal account. Transactions recorded may not yet appear on the statement, and conversely, bank movements may remain unrecorded in accounting.
Bank reconciliation identifies these discrepancies and allows for the quick detection of unrecorded fees, unidentified transfers, or allocation errors. Professional practice favors a monthly frequency, even if no general text from the PCG formally imposes it.
Points of vigilance during reconciliation
Associative structures and condominiums are particularly concerned. When a postal account serves as the main checking account, pending transactions distort the picture of available cash if reconciliation is neglected. We recommend systematically matching each line of the postal statement with the corresponding accounting entry.
A rigorous reconciliation also facilitates the separation of banking powers. In associations, the signer of postal checks and the person responsible for accounting entry should not be the same. This cross-control reduces the risk of fraud and error.
When account 513 becomes redundant: cases of closure and reclassification
With the normalization of services from La Banque Postale, some entities close their historical postal account in favor of a traditional bank account. In this case, the balance of 513 must be settled by transferring to 512 before the end of the fiscal year.
The reclassification entry is simple: debit of 512, credit of 513 for the exact amount of the residual balance. Account 513 then remains in the entity’s chart of accounts, but with a zero balance. Its removal from the internal chart of accounts is only relevant if the entity is certain it will not reopen a postal account.
Conversely, an entity that opens a new account with La Banque Postale must create a specific sub-account of 513 (for example, 5131 to distinguish multiple postal accounts), with a description mentioning the account number and the associated agency.
Account 513 remains a relevant traceability tool for any structure that maintains an operational link with La Banque Postale. Its removal from the chart of accounts without prior analysis of cash needs would be a hasty simplification. Keeping 513 active as long as the postal account exists remains the safest practice to ensure the reliability of the balance sheet.
