Accounting 76 account: balance, credit, debit, postings

All financial transactions are reflected in the accounts. This publication will discuss what the 76 account “Settlements with various creditors and debtors” is intended for, and what categories it is divided into. The article will provide examples to help better understand the topic in question.

Purpose of account 76

76 account is calculated active-passive. It is necessary in order to summarize information on financial transactions with debtors and creditors, not taken into account on accounts 60-75 :

• property insurance ;
• claims;
• funds withheld from employees' salaries for third parties in accordance with court orders or executive acts.

The new chart of accounts significantly expanded the functions of the account in question, through which the main financial flow is carried out. In this regard, it became advisable to open different categories intended for certain types of calculation.

Score 76: sub-accounts 1 and 2

Since cash transactions can be different, it is customary to divide the account on settlements with creditors and debtors into several categories. The first (76.1) includes property and personnel insurance, with the exception of medical and social insurance payments.

The transfer of monetary amounts of the organization is reflected in the debit, and the write-off of funds is reflected in the loan. For example, D76 K73 - insurance indemnity due to the employee of the organization according to the contract. D51 K76 - receipt of funds by the organization in accordance with regulatory enactments. D99 K76 - write-off of uncompensated insurance claims or damage from a force majeure event.

Subaccount 76.2 reflects the calculations for claims that may be presented:

• to suppliers, transport agencies and contractors according to the found price inconsistencies, in identifying computational errors after completing accounts, as well as in case of shortage of cargo (D76 K60);
• to organizations for violation of quality standards, discrepancy TU (D76 K60);
• to credit institutions for erroneously debited or transferred amounts on the accounts of the organization;
• for downtime or marriage resulting from suppliers, contractors (correspondence with Section III of the chart of accounts);
• for fines and penalties for non-compliance with obligations in the contract (correspondence with a score of 91).

Credit subaccount 76.2 reflects the payments received. If it turns out that the funds are not recoverable, they relate to debit.

Score 76: sub-accounts 3 and 4

Paragraph 76.3 controls the dividends due to the company and other types of income that do not contradict the partnership agreement. D76 K91 - profit to be received (distribution). D51 K76 - funds received by the organization from debtors.

The fourth sub-account is intended to take into account the amounts accrued to the employees of the enterprise, but not paid on time due to the failure to appear of the recipients. In such cases, the following wiring is performed: D70 K76. When the worker receives the money, an entry is made to the debit of account 76.

The application of subaccount 76/3 in practice

The company Oasis LLC has receivables in the amount of 1,350,000 rubles. account 62 "Settlements with customers and customers." For certain reasons, before the due date, she transferred for 750,000 rubles. its rights to the company Iceberg LLC, which was able to recover 900,000 rubles against the debt owed. In this situation, several questions arise:

1. Is receivables a purchase of property or a financial investment in assets?
2. The buyer's asset is 1,350,000 rubles. or 750 000 rub.?
3. Whether in this case the debt of the debtors is considered income, and 750 000 rubles. - the expense of the company LLC Iceberg?

In a similar situation, Oasis LLC must, from a legal point of view, have the following transactions:

Debit 91.2 Credit 62 1 350 000 rub. - write off the right of claim from buyers.

Debit 51 Credit 91.1 750 000 rub. - compensation received.

Such operations allow you to record on the accounts “Other income and expenses” the loss of the company “Oasis” arising from the assignment of the right to claim. Iceberg accountants must record on the debit of account 76.3 to record debts from counterparties. The difference between the rights received and the costs for them are shown on the credit of accounts 98/1, 83 or 90/1.

Even partial collection of payments leads to mutual agreement of both parties and the full repayment of debts. The unpaid part is recorded at debit 51 of the account, and debited - at 98.1. In this example, it turns out:

The debit of 51.9 million rubles.

Debit 98.1 765 000 rub.

Credit account 76 1 350 000 rub.

The Iceberg company spent 750,000 rubles. to acquire rights and returned 900,000 rubles., That is, the profit is 150,000 rubles. The wiring is as follows:

Debit 98.1 Credit 91.1 150 000 rub.

The actual amount of profit from the operation is reflected in account 98/1, which is intended for capturing deferred income.

Sub-account 76. AB “Value Added Tax on Advances and Payments”

Summarize the information on the calculations for the payment of VAT from advance payments allows account 76.A. Accounting is done with those customers and buyers from whom money was received in advance for the planned shipment of goods or for the provision of various types of services.

Business transactions may be different. For example: D68.02 K76.AB - accounting of value added tax on payment received from the customer in advance. D 76.AB K68.02 - the calculation of VAT on funds received in advance from buyers. Account 76. AB has the following subcontos (analytical features): “Counterparties”, “Invoices”.

Debit Correspondence

The debit account under consideration (76) can correspond with the following: “Fixed assets” (01), “Equipment for installation” (07), “Profitable investments in the MC” (03), “Investments in non-current assets” (08), “ Intangible assets ”(04). From the second section of the chart of accounts, he interacts with the items “Materials” (10), “Animals for growing and fattening” (11), “Procurement and acquisition of MCs”.

76, the account can be corresponded by debit with all points of the section “Costs of production”, as well as with accounts 44 41, 45 and 43, of the category “Finished goods and goods”. Often, transactions are made with cash accounts: 52, 50, 58, 51, 55, and also with settlement accounts: 60, 67, 66, 62, 73, 70, 76, 71, 79. In addition, correspondence with the following accounts is carried out on the debit : 99 (reflects profit and loss), 91 (captures miscellaneous income and expenses), 90 “Sales”, 97 “Deferred expenses”, 86 “Target financing”.

Examples of business transactions (debit)

To understand the material presented in the article, some examples from the table will help.

Credit Correspondence

The account 76 can interact with the following categories of the chart of accounts: “Investments in non-current assets”, “Fixed assets”, “Intangible assets”, “Equipment for installation”, “Profitable investments in MC”. In the section “Production stocks” correspondence is carried out with the accounts “Materials”, “Procurement and acquisition of MCs”, “Animals for growing and fattening”, “VAT on acquired values”.

76 an account can also interact on credit with all settlement (except 68, 69, 75, 77) and the category “Production costs”. From the section “Finished goods and goods” - with accounts 52, 50, 51, 44.55, 41, 57, 45, and 58. In addition, correspondence is carried out with most current accounts and, of course, with those that reflect cash transactions (91, 97, 94, 96, 99).

Examples of business transactions (loan)

Visually familiar with what the account has 76 postings, the table below with a few examples will help.

Account balance 76

Novice accountants often ask the question of which account 76 is actually: active or passive? In practice, the situations are different, but since it takes into account receivables and payables, the balance can be of two types:

• unilateral (debit or credit);
• bilateral (both debit and credit).

This means that the account in question is active-passive. In order to determine the debit balance, summarize all debts from counterparties. Balance 76 of the loan account reflects all the money that the company must pay.

Reports on accounts payable and receivables in the 1 C system

A company using the 1C: Enterprise 8 system must keep a report on the size of counterparty receivables. You can get acquainted with the information if, after starting the program, enter the section “Contractors”. In the field that opens, there is a list of organizations and individual entrepreneurs. Among them there are debtors and creditors. Contact details, accounts and contracts, work schedules - all this can always be seen. It is from this menu that you can register a new organization that is part of the holding.

Find out the exact debt of enterprises is not difficult. To do this, go to the section “Debt under contracts”, select “Accounts Receivable” in the panel “Display Debt” and set the required date. The user will see a list of all counterparties, among which you can choose specific enterprises (with large debts). If there are many organizations and the whole list does not fit on one page, the information can be presented in a visual form. To do this, you need to go to the "Chart" section. Similarly, work is carried out with accounts payable.

That's all you need to know about account 76, which reflects settlement transactions with debtors (creditors). Since the legislation of the Russian Federation is systematically changing, you should regularly use reference legal systems, which always have an up-to-date chart of accounts and PBU. Then the experts will always be aware of any changes related to their professional activities, and will be able to make the right decisions when conducting accounting.