Both the Ming and Qing fiscal systems belong under the category of the quota system analyzed by Ray Huang. However, there are key differences between the Ming and Qing systems. Ming financial policy focused on increasing revenue, primarily through raising taxes. The Qing mainly sought to reduce deficit; particular importance was placed on solving the problems of minqian (tax arrears) and kuikong (deficits of the treasury). In the Ming, the financial condition was calculated by the formula for the so-called sizhuce (four-column record), which was inherited from the Song dynasty. This formula reads as follows: jiuguan (balance forwarded) + xinshou (new receipt) – kaichu (outlay) = zunku (present balance). This formula only calculated the actual revenue and expenditure for a given fiscal year, but did not touch on the “quota.” Therefore, the fiscal system in the Ming is not a quota system in the strict sense of the word. According to Iwai Hiroshi’s analysis of Ming dynasty financial documents, until the middle of the Ming, fiscal administration depended on the basic registers (such as the Yellow Book and the “Fish Scale Book”), which were used when the government imposed taxes or service levies. During the latter half of the Ming, each province and independent prefecture compiled a “Comprehensive Book of Taxation and Service Levies,” which did not only reflect the actual financialconditions, but also controlled them rigidly. Thereafter, the quota system that had heretofore been a theoretical ideal was put into practice. The Qing dynasty took over the result of this late Ming reform, and it was only then that the quota system was finally established. During the Ming, because tax quotas failed to control taxation effectively, taxes were frequently increased. On the other hand, the Qing strictly maintained tax quotas; therefore, minimizing tax arrears was one of the main policies of the Qing. During the Qing, tax quotas were established as goals that tax collectors were required to attain. However, it was difficult for officials to collect the full amount of taxes. As a result, Qing financial regulations primarily outlined the disciplinary punishments for failure to collect the proscribed amount of taxes as well as listing the procedures for covering treasury deficits. This paper examines the articles concerning minqian (tax arrears) and kuikong (deficits of the treasury) in the Regulations of the Board of Revenue, the Punitive Regulations of the Board of Civil Office, and the Penal Code. Based on this research, it is clear that financial regulations in the Qing dynasty (unlike the Ming) were inseparable from personnel management.