In accounting, account 62 is used to control settlements with customers and customers. This register is created for conducting analytical accounting of all documentation presented to the customer, as well as for monitoring incoming payments.
An accountant working with 62 accounts most fully reflects all data about the buyer in the register. This approach allows you to quickly analyze:
- terms of payment under the contract;
- control overdue payments on issued acts;
- accumulate advances received for future services;
- keep track of bills for which the due date is not due;
- control overdue bills.
It is not provided to divide account 62 into subaccounts in the chart of accounts; therefore, the accountant independently applies analytics convenient for a particular organization. Such a separation is necessarily reflected in the accounting policies of the company.
Retail may apply. 62 without analytics
Keeping a 62 account without sub-accounts is convenient for retailers and receiving cash payments for goods through a cash register. In retail, they are not interested in the data of the buyer and do not draw up long-term contracts with him. Most often, all buyers fall into a single subconto called “Private Individual”.
Installment retailers, on loans to citizens (not banks), often face such a problem as complicated tracking of loan repayments. In this situation, chain stores are mainly involved in the sale of expensive household appliances. There is also a need to track down payments in case of prepayment for goods. Therefore, it would be more appropriate to maintain sub-accounts in the context of such clients.
It is worth noting that maintaining an account with reference to certain sellers or managers can help in the fight against theft and control the correct execution of the order. The invoice will clearly demonstrate which material person made the mistake when shipping or paying for the goods.
The need for subaccounts in wholesale
In the wholesale and non-cash trade, the situation is different. 62 account is maintained in the context of each contract of the counterparty. This is especially important when customers conclude several contracts with different conditions and terms.
Using sub accounts turns out to be quite time-consuming accounting. 62 the account is overgrown with nomenclature, but such works are justified, as they make accounting convenient and reliable. Such reporting is also convenient in case of questions from tax authorities. Maximum transparency of calculations is always encouraged.
62 account: postings
All fulfilled obligations with customers are always debited with sales accounts ( dt 62, dt 90.1) and credited in correspondence with cash receipts (d 51 dt 62.1). Such postings are basic. The amounts of advances received are recorded in separate sub-accounts (d 51, d 62.2).
If the calculation is provided by an interest-bearing bill, then 51 accounts are debited as payments are received , and interest falls on other income and expenses (account 91).
Using 62 accounts when working with branches
In the case when the organization has separate divisions and draws up a consolidated balance sheet, accounting records of settlements and obligations with customers and customers are kept separately.
If the parent organization carries out all payments for a separate division, then the account must be used in postings. 79. For example, funds for the sale of goods and services are debited to the account “On-house settlements”, and credited to 62 accounts (d 79, d 62). Branches are also required to enter sub-accounts similar to the parent company for more convenient consolidation of the balance sheet.