The balance sheet is a financial document that reflects the accounting balances of various accounts for the first day of the year, quarter or month. It also reflects the balances on accounts at the end of the accounting period and the current turnover (this is income and expense) for certain time periods.
Depending on the reporting period, the balance sheet may be monthly, quarterly or annual consolidated.
All actually performed business operations are included in this document. In this case, the balance sheet conducted in strict accordance with the provisions of the accounting of the Russian Federation and accounting policies approved and applied in the organization.
How to compile a balance sheet correctly? At the beginning of the activities of any new enterprise, the balance sheet is zero and does not have any turnovers on accounts. After state notarial registration, the amount of the authorized capital of an enterprise is actually reflected in the credit of account 80 (the organization’s MC) and in the debit of correspondent account No. 75 (Settlements with debtors, creditors) by the amount of contributions of each of its founders. Actual contributions by members of the company are recorded on the credit of account 75 and on the debit of the following accounting accounts. Depending on the type of assets contributed, these can be fixed assets (01), intangible assets (04), materials (10), goods (41) and others.
For example, the company was registered. The amount of the authorized capital is 75,000 rubles. The company has three founders. The first founder has a share of 45%, the second share 35% and the third 20%. The authorized capital is formed by money, goods and materials and fixed assets. The first founder contributes in cash, and the rest with inventory (fixed assets and goods). The amount of 75,000 rubles will be reflected in the debit of account 75 and in the credit of account 80. If the company has several founders, then in the context of account 75 the amount of the authorized capital will be reflected in their shares, respectively. In the process of making percentages by the participants in the company, the receipt of money and material assets will be quantified in the corresponding accounting accounts.
1. Dt 75 Kt 80 - 75000 sum - registration of the authorized capital.
2. Repayment of debt to the authorized capital in cash from the first founder.
Dt 50 Kt 75 - 33750 sum - deposit of a share by one of the founders directly to the cashier of the enterprise.
Dt 57 Kt 50 - 33750 sum - transfer of funds from the cash desk to the bank.
Dt 51 Kt 57 - 33750 sum - crediting money to the account of the enterprise.
3. Repayment of debt to the authorized capital by goods from the second founder.
Dt 41 Kt 75 - 26250 sum - depositing the share of goods by the second of the founders.
Repayment of debt to the authorized capital by fixed assets from the third founder.
Dt 08 Kt 75 - 15000 UZS - deposit of a share with fixed assets to the third of the founders.
Dt 01 Kt 08 - 15000 sum - replenishment of fixed assets due to the contribution of the founder.
The balance sheet of any account and subaccount shows the balances on the first day of the period and at the end of it, the debit and credit turnover for a certain time period or reporting period.
So, the current balance sheet on account 51 in expanded form on the debit will tell the user about the amount of funds received in the current account of the managing company. According to the data reflected in the loan account, you can see the amount of funds spent and their recipients. According to the actually obtained data from the consolidated turnover sheet by comparing the data at the beginning and end of the temporary reporting period, as well as using the current turnover data for twelve months, an annual balance sheet for the enterprise is drawn up.
Since any business transaction of an enterprise is always reflected both in the asset (debit) and in the liability (credit) of the relevant accounting articles, the mismatch of the total amounts in the turnover indicates a mistake in accounting. Therefore, the consolidated balance sheet serves as the basis for the preparation of tax calculations and annual financial statements, including several mandatory forms. This is the balance sheet of the enterprise (No. 1), profit and loss (No. 2), the change in capital (No. 3), the movement of monetary assets (No. 4).