Each business entity must take into account its operations in order to then summarize them in the final report. Moreover, the state has established a direct relationship: the more taxes, the more difficult the bookkeeping. In this regard, the book of income and expenses is defined as the main accounting tool for small businesses.
Who applies and what does the book look like?
It is actively used in their activities by individual entrepreneurs and small legal entities. But only those who work on a simplified tax system. As with any other accounting document, the law establishes the form of the book, the procedure for filling out and the time frame.
The book of income and expenses is issued for the tax period. For small businesses, this is a regular calendar year. Before it begins, a small brochure of a standard form is purchased at the tax office, stitched, signed and certified by employees of the tax authority. Now you can record actions.
Currently, you can use the electronic version of the book, which is much more convenient for the modern entrepreneur. However, to inform or not to inform the inspector is up to you. But at the end of the year it is advisable to print it and put it in your own archive.
How is it filled?
During the time that there is a book of expenses and income, its form has not undergone significant changes. As usual, there is the serial number of the operation, the date of the original document and its number, what kind of operation is completed. But the other two columns require a separate explanation.
In the column "income" are entered those operations for which income is received. The return of funds from the budget or the bank is not considered as such, and therefore it should not be reflected. “Simplists” use the cash method in accounting , therefore, the date of receipt of the money (with rare exceptions) must coincide with the entry in the book. It is noteworthy that here those who use the “income” object for taxation and those who use a more complex object, in which expenses are deducted from the income, are obliged to enter information here.
But in the column “expenses” the taxpayer with the object “incomes” does not enter almost any records. Of course, the book of accounting for income and expenses under the simplified tax system allows this to be done unhindered, but such businessmen pay a tax (usually 6%), and a separate list of costs is allowed for accounting. Thus, contributions to the pension fund and the Social Insurance Fund made only for themselves can reduce the tax rate to zero.
The same applies to fixed assets, which should also be taken into account in the relevant section. And entries here can only be made by taxpayers who take into account expenses.
Responsibility for the lack of books
Clarifications of experts and judicial practice indicate that the absence of a book is not considered a crime. It would seem that an unfilled book of income and expenses is inevitable should be accompanied by punishment - because the Tax Code punishes very severely for lack of accounting. However, here is the point. Violation will occur if there are no primary documents, there are no accounting registers or business transactions are incorrectly reflected.
Here, the book is a tax register, that is, for the lack of records should not be followed by punishment. However, proper accounting is needed primarily by the taxpayers themselves. Slenderness and consistency in the reflection of operations will help not only to correctly calculate the tax, but also to predict activities for the future.
Oddly enough, the book of income and expenses is in demand even among entrepreneurs using UTII. For them, it is not necessary at all. It turns out that banks when issuing a loan ask for this document to confirm the profitability of the business. This once again proves the usefulness of this accounting document.