Accounting for cash and settlements at the enterprise is aimed at ensuring the safety of capital and control of its use for its intended purpose. The effectiveness of the company depends on its proper organization. Let us consider briefly the accounting of cash and settlements, its tasks and features.
Appointment
The tasks of accounting for cash and settlements at the enterprise are as follows:
- Timely and complete documentation of the operation.
- Observance of financial discipline.
- Reliable and timely maintenance of analytical documents.
- Making payments on company accounts.
Credentials are used in the inventory of the capital of the company.
Operations with customers and customers
They include cost recovery and implementation, making a certain profit. The rules for accounting for cash flows and settlements depend on the chosen method of recording sales operations.
If the company uses the cash method (for payment), the debt of counterparties is accumulated on account 45 of the “Goods Shipped” account. Amounts are recorded at the actual cost of goods:
Db sc 45 cd 43.
Upon receipt of payments in accounting, the funds and calculations of the organization are shown as follows:
- Db sc 51 cd 90.
- Db sc 90 cf 45 - write-off of goods sold at cost.
- Db sc 90 cd 68 - reflection of VAT.
Debt relief
Unfulfilled on time monetary obligations of counterparties are deducted from account 45 at a loss without reducing taxable income. This debt is transferred to the account. 007 (off-balance sheet) and is recorded on it for 5 liters.
Upon repayment of liabilities, the amount is reflected as a financial result and included in taxable profit.
Shipping Accounting
If the company uses this method, transactions are recorded in the account. 62. On it, unfulfilled obligations are accumulated on the cost of implementation.
In the registers of accounting records of calculations and cash of the organization, sub-accounts for collection, planned and other payments may be opened.
The collection item reflects operations on documents for shipment presented and accepted by the banking structure. On the sub-account of planned payments, systematic calculations are taken into account, which do not end with the repayment of one document.
The following entries are made in accounting:
- Db sc 62 cd 90 - shipment of products and presentation of the invoice.
- Db sc 90 cd 43 - write-off of goods sold at cost.
- Db sc 90 cd 68 - VAT included.
Upon payment of arrears, account 62 is credited.
Analytics under the article is conducted for each submitted payment document, and for planned deductions - for each customer and buyer.
Accrual method
If the company has such a procedure for accounting for cash and settlements, you can create reserves for doubtful payments from income. At the same time, taxable profits will decrease.
Accounts receivable unclaimed after the expiration of the statutory limitation period should be written off to reduce the reserve. Amounts are accepted on the account. 007 and have been there for 5 years. When paying off debt, they are credited to profit in the form of non-operating income.
Advance Transactions
They are associated with the receipt by the enterprise of a kind of prepayment at the expense of future deliveries of products, production of works, and the provision of services. The parties to the contract may stipulate a specific amount of advance payment. At the same time, the company must organize accounting for each payment received. To reflect operations, a record is made: dB cf. 51 cd 62.
Upon receipt of an advance, VAT is deducted from it. Accordingly, the wiring is done: DB SCH. 62 cd 68.
Claims
They are executed in writing and contain the requirements of the counterparty, the amount and a link to the regulatory act. Supporting documents are enclosed with the claim.
Consideration of requirements is carried out, according to general rules, within a month. The answer is sent in writing. In case of full or partial satisfaction of claims, it shall indicate the amount, number, date of the payment document (order). In case of refusal to comply with the requirements, the message should contain a reference to the normative act allowing this.
Upon receipt of an unsatisfactory response to a claim or non-receipt of it, the counterparty is entitled to file an application with the court.
Upon receipt of the requirements, the accounting of funds and settlements (at small enterprises, including) is carried out on account. 76, subch. 76.2.
The company has the right to make a claim to the supplier / contractor if:
- The counterparty has not fulfilled the contractual conditions.
- Revealed shortage of received products.
- Errors found in the calculations in the documents.
Features of reflection of claims operations
In case of violation of contractual terms, fines, forfeits and penalties are applied to the counterparty. When imputed, the accounting of cash and settlements in the organization is carried out as follows:
Db sc 76, subch. 76.2 cd 91, subch. 91.1 - accrual of forfeit, interest, fine and recognized by the counterparty or imputed by the court.
If there is a shortage or damage in the received products, the purchasing enterprise shall make the following entries:
- Db sc 94 cd 60 - reflection of shortage / damage within the values stipulated by the contract.
- Db sc 76, subch. 76.2 cd 60 - shows losses exceeding those specified in the agreement.
If the court refused to recover losses from the counterparty, the deficit is written off by the following entries: DB cf. 94 cd 76, subch. 76.2.
Payment Requests / Orders
They are the primary documents. Accounting for cash and settlements on it has a number of features.
A payment order is an order received by the bank from the account holder. It is executed in a written document and contains an indication of the transfer of a certain amount to the account of the counterparty opened in the same or another financial institution.
The term for the execution of the order is fixed by law. A shorter period may be established by the contract of banking services or follow from practice. By means of payment orders, the following amounts are transferred:
- For delivered products, work performed, services provided.
- To the budget of any level, extra-budgetary funds.
- For repayment / placement of loans / deposits, interest on them.
- For other purposes stipulated by the agreement or fixed by law.
Orders can also be used to make advance or recurring payments.
Features of the execution of the order
The client’s order is formed on the form f. 0401060. Orders are accepted regardless of the availability of funds for the settlement account. When paying for all copies of the document, the date of debit is written in the appropriate field (in the case of partial transfer, the date of the last operation), the seal of the seal and the signature of the employee.
At the request of the payer, the bank shall notify him of the execution of the order before the end of the next day following the customer’s request, unless another period is specified in the account maintenance agreement.
Letter of credit
Such an order of the client involves the payment immediately after shipment. The supplier must provide supporting documents to the bank.
Due to the letter of credit, timely payment is ensured, and the probability of its delay is eliminated. The order is issued for the period specified by agreement. Moreover, each letter of credit is used for settlement transactions with only one supplier.
The acquisition of wealth
Accounting of cash and settlements with suppliers / contractors is carried out on the account. 60. All operations are reflected on it, regardless of the time of payment on the invoice. The following documents are compiled for the submitted payment documents:
- Db sc 10 (and other inventory accounts) Cd sc. 60 ;.
- Db sc 19 cd 60.
Accounting for cash and settlements in the delivery and processing of goods and materials by third-party enterprises makes similar entries.
In the case of the delivery of valuables without documents, you should check whether the objects are reflected as paid, but taken out of the warehouse or in transit, and whether the amount is not included in the receivables. After that, the materials are reflected as unbilled deliveries: dB cf. 10, count 15 cd 60.
Upon receipt of settlement documentation, this record is stroned and a new posting is made.
Analytical accounting
Its maintenance should ensure the receipt of necessary information on various suppliers, accepted documents, unbilled deliveries, bills, the payment time of which has not arrived and has already expired, commercial loans. This information is used in the formation of the balance.
If the company uses journal-order accounting of cash and settlements, the information is summarized in f. No. 1. Transactions reflect on the loan account. 60 positional method for each payment document.
Analytical accounting of cash and settlements with contractors / suppliers for planned payments is carried out in the statement on f. No. 5. The data from it by the general results at the end of the month are transferred to the journal-warrant No. 6.
Social insurance
Deductions for various social needs are charged to the costs of circulation or production. Disability benefits for spa treatment are paid from the social insurance fund. The organization makes contributions to the PFR and MHIF, as well as to the employment fund (to provide temporarily unemployed people).
Accounting for cash and social security and insurance payments is carried out on 69 accounts.
When accruing, a record is made: dB cf. 20 (23, 26, 25) Cd 69.
Costs are recorded as follows: DB SCH. 69 cd 70.
Salary
Accounting of operations is carried out on 70 accounts. The loan records accruals, the debit - deductions. Balance means debt to staff. In accordance with the place of employment of employees, the amount of salary accrued for the worked time is transferred to DB SC. 20, 23, 25, 43, 26 or 44. 70 accounts are credited.
If reservation is not provided, a record is made: dB cf. 20 (23) Cd. 70.
The company may pay for the length of service. If funds are reserved, deductions are made from them, if not, from the consumption fund.
Holding
From the salary are deducted:
- Personal income tax - DB 70 cd 68.
- Amounts on executive documents - dB cf. 70 cd 76.
- Penalties for defective products - DB cf. 70 cd 28.
The remaining amount of earnings is issued to employees. In this case, a record is made: dB cf. 70 cd fifty.
Cash Operations
They are associated with the receipt, storage, expenditure of funds received at the cash desk from the bank. When transferring money, a wiring is made: dB cf. 50 cd 51.
The primary documents for accounting calculations and funds are:
- Incoming and outgoing cash warrants.
- Cash book.
- Payroll.
- Order registration journal.
- The book of accounting issued and received money.
Orders must be executed without errors and blots. The sheets in the cashier's book are numbered, laced up; the document is certified by the signature of ch. accountants and directors of the company.
Operations with accountable persons
To summarize information about them, 71 accounts are used . It records money and settlements with accountable persons for the procurement of goods and materials, amounts issued for business needs, and business trips.
Lists of persons entitled to issue funds under the report are approved by the head.
According to the current rules, employees who receive funds must report on their spending. Leftover money must be returned to the company. Non-refunded amounts are reflected in the account. 94 (a special sub-account is opened for him). Subsequently, write-off to the account. 70 or 73.
Employees must submit an advance report to the accounting department, to which documents confirming expenses are attached.
The issuance of funds is reflected in the record: DB SCH. 10 cd 71.
Operations on r / s
Accounting of funds in the current account is carried out according to different documents depending on the form of payments. In cash transactions, they are:
- cash checks;
- installment announcements.
When cashless payments are used:
- acceptance form;
- money orders;
- collection documents;
- bank memorial order.
The first option is the most common. When accepted, the bank acts as an intermediary between the buyer and the supplier. The latter receives money on the basis of settlement securities.
Transactions with debtors / creditors
76 counts are used to reflect them. The accounting of cash and settlements with debtors and creditors has already been partially considered above. 76 accounts reflect personal / property insurance transactions, claims, deposited amounts, dividends.
This article takes into account a fairly large number of calculations of a predominantly non-commercial nature. Accordingly, the accountant opens sub-accounts not provided for in the Plan.
Subch 76.1, for example, is used to reflect insurance operations in the event of damage to property due to natural disasters. In this case, a record is made: dB cf. 44 cd 76.1.
Upon receipt of compensation from the insurance company, 51 accounts are debited. If the losses are not fully covered by the amount, an entry is formed for the amount of the uncompensated part: dB cf. 91.2 cd 76.1.
Credits and loans
The company is forced to use the funds of financial organizations (banks) with a lack of equity. Loans are granted on the basis of agreements. The Bank sets the size, terms of issue and repayment of debt, interest rates.
The company receives loans from other business entities. Their issuance is also formalized by an agreement in which all the essential terms of the transaction are fixed.
Enterprise funds can be received for different periods - less than a year or more. Accordingly, the accounting of cash and settlements on loans is carried out on accounts 66 and 67. These items are included in the liability. The loan reflects the receipt of funds and the occurrence of debt, the debit - the return of the amounts.
Credits and loans can be issued with crediting money to accounts. In such cases, a record is made: dB cf. 50-52 cd 66 (67).
Funds received from the issue and placement of bonds are also taken into account on these accounts. The amounts thus reflect separately from other loans. The value of bonds may be lower or higher than the nominal price. The difference is reflected in 91 accounts. If the value is higher than the nominal, it is included in other income for subaccount. 91.1, if lower - in subacc. 91.2
Reflection of interest and bonds repayment operations is carried out in the same way as for ordinary loans.
Accounting for cash and settlements in the PMR
In the Transdniestrian Moldavian Republic, all operations are reflected in national currency - rubles. In Transdniestria, the accounting of cash and cash settlement is made on 50 accounts. Subaccounts can be opened to it:
- 50.1 - cash desk of the organization;
- 50.2 - operating cash desk, etc.
By subch. 50.2 reflects the presence and movement of funds of commodity offices, operational sites, river crossings, stopping points, ports, marinas, train stations, post offices, etc.
In the debit, the receipt is taken into account, on the loan - the payment.
When cash transactions in foreign currency are carried out in cases stipulated by law, the corresponding sub-accounts are opened for account 50. They separately reflect the movement of funds. At the same time, they are converted into national currency at the exchange rate of the Central Bank of Transdniestria on the day of the transaction. In analytical accounting, entries are simultaneously made in the currency of payments and settlements.
Upon receipt of money at the cash desk of the enterprise, the accountant generates the following entries:
- Db sc 50 cd 51 (52) - the amount of cash received from the current or foreign currency account is reflected.
- Db sc 50 cd 61 - revenue received from customers / buyers is taken into account.
- Db sc 50 cd. Cf. 71 - reflects the amount of funds returned by accountable employees.
- Db sc 50 cd 76 - recorded cash received from debtors.
- Db sc 50 cd 70 - reflected the amount of accrued earnings to staff.
The issuance of funds is made out by the following entries:
- Db sc 51 (52) Cd. 50 - reflects transactions for the amount transferred to the account (settlement / currency) of funds in excess of the cash limit.
- Db sc 60 cd 50 - cash is taken into account when paying bills presented by contractors and suppliers.
- Db sc 76 cd 50 - reflects the amounts on the accounts of creditors.
- Db sc 71 cd 50 - funds issued to an accountable employee are taken into account.
- Cd 70 db sc 50 - reflects the amount of issued salaries to staff.
At the end of the month, the turnover on the loan and debit 50 of the account are compared. According to the results of the comparison, the balance (balance) is displayed. Its value is verified with the data of the cash book.
Synthetic cash accounting enterprises are in the journal-order f. 1 and in the statement on f. 1.
Cash inventory
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