In order to correctly formulate the selling price and in order to get objective financial reporting figures, an enterprise requires a competent reflection of the cost of goods in accounting and tax accounting. The technology by which goods are recorded, if retail trade, has some nuances that you need to know about.
To carry out accounting, the company can independently choose the method by which to keep track of goods: at purchase value or at sale. In reality, only one thing is important - fixing the chosen method in the accounting policy. But in tax accounting, goods must always be reflected, given the purchase price. Is it possible to keep records of goods, if wholesale trade? Yes, and even necessary, since it is required by the same tax inspectorate. Accounting in this case is kept at the same purchase price. In some cases, if the organization does not have a wholesale sales link and it is engaged only in retail trade, goods can be recorded at the selling price.
At the present stage of trade, the purchase and trading prices are often different to a minimum. Previously, buyers always paid the price that they were billed and the sale price was much higher than the purchase price. There was no choice for the buyer, as the sellers did not have competition. But now it’s not so. It should be noted that today the behavior of buyers has changed radically. An analysis of buyers showed that it is the buyer who forces the seller to reduce the cost, which he goes to offer a better price in the market. Due to this, there is a competition.
How the cost of goods is determined. The purchase price - all the costs associated with the acquisition of goods in general - this is called its actual cost. In accounting and tax accounting, the cost of goods purchased is formed in different ways. This means that some of the costs are added to their actual cost. And given the rules of tax accounting - on the contrary. However, a nuance is important: if delivery costs were not included in the price of goods, then tax accounting requires their distribution among realized and unrealized goods. To fulfill this condition, the average percent of direct (transport) expense for the current time is determined. It should be noted that all necessary actions are described in the Tax Code and are strictly regulated by it.
How are direct (transportation) expenses distributed for the current time: the entire amount of transportation costs attributable to other goods at the beginning of the period is added to the costs of delivery of goods that the company incurred in the current period. The purchase price of the balance of the unsold goods at the end of the month is added to the purchase prices of each product sold during the month. The average percentages of direct consumption are calculated. To do this, the amount of transport expense is divided by the value of the goods. The average percent of direct expense is multiplied by the price of the remainder of the goods at the end of the month. In this way, it is determined which transportation costs are for unsold goods. During the taxation of income, only those transportation costs that relate to the goods sold can be taken into account. To calculate this figure, it is necessary to subtract from the usual amount of direct expense the one that falls on unsold goods. This technique allows you to significantly reduce the tax burden on the company.
Now about the trade margin. The sale price of goods includes the purchase price and trade margin. The structure of the sale value includes the planned profitability of the enterprise and VAT. The trade margin and retail price of goods is reflected in special documentation called the retail price register . During the sale of the goods, the mark-up is deducted. It often happens that the goods must be overestimated (discount or underestimate). After revaluation, the goods are re-registered and inventories are drawn up. They indicate: date of change in value; names of revalued goods; how many revalued goods; previous price of goods; new price for goods; revaluation amount (the difference between the prices of goods in the old and new prices). Based on these figures, a new selling price is formed at which the goods are sold.