Settlements between suppliers and buyers are carried out as a rule; non-cash by payment orders, letters of credit, payment requests-orders, checks, and funds are debited from the company's accounts by order of the account holder.
The form of settlements by the payer and the recipient of funds is determined by the contract or agreement.
Organizations - parties to the agreement, by general agreement, can carry out offsets of mutual debts, bypassing banks. In this case, an order, a check for an uncredited amount, is submitted to the bank. Barter transactions are also practiced. In addition, cash settlements with buyers are allowed within the limit of cash settlements established by law.
When checking, first of all, it is necessary to establish whether all contracts for the supply of products are available, whether these contracts are registered in the register of contracts and letters of guarantee.
Settlements with buyers for sold products (works, services) are recorded on the active balance account 62 “Settlements with buyers and customers”.
Sources of information, in addition to these legal documents, are settlement and payment documents, journal-order No. 11, acts of inventory of settlements, the General Ledger, and the organization's accounting report.
When checking non-cash payments, the auditor should pay attention to the availability of all supporting documents, and in some cases, conduct cross-reconciliations at the bank or organization with which the settlements were made. Particular attention should be
pay settlement operations by checks, letters of credit or using promissory notes.
When checking settlements with buyers using promissory notes, it is necessary to pay attention to the timeliness and correctness of the reflection of promissory interest on received promissory notes. In addition, it is necessary to determine the reasons for non-payments, if there are facts of overdue receivables, whether there are any missed deadlines limitation period.
By tracking and arithmetic verification, it is necessary to establish: the correctness of pricing in the sale of products (works, services), the use of margins (discounts, capes); whether there are intentional settlements with buyers below the cost of shipped products in barter transactions, mutual offsets, settlements using checks, letters of credit, bills of exchange.
It is also necessary to check the correctness of the analytical accounting on account 62 "Settlements with buyers and customers". At the same time, the construction of analytical accounting should provide the possibility of obtaining data on real debts for settlements with buyers, secured by bills, the date of receipt Money which have not been stepped on; discounted promissory notes (accounted for in banks for which funds were not received on time). The correctness of the correspondence of accounts with account 62 “Settlements with buyers and customers” is checked; correspondence of analytical accounting records on account 62 “Settlements with buyers and customers” to records in the turnover sheet, General Ledger, balance sheet.
When checking settlements with buyers, you can also apply analytical procedures, logical, normative and scientific analysis.
6) due to non-observance of the identity of analytical accounting data with turnovers and balances on analytical accounting accounts. The auditor is responsible for identifying uncorrected errors.
The auditor's opinion should ensure that there are no material errors in the financial statements of the enterprise, or they are completely eliminated, and the errors are corrected.
If errors are found, the auditor is obliged to find out from the management and personnel of the enterprise their causes. He must determine their impact on financial statements. If the alleged error could lead to a distortion of the reporting, then to restore the truth, he must perform additional procedures. The nature of the procedures depends on the extent to which errors and misstatements affect the content of the financial statements.
If the error could have been prevented or detected by internal control, but this did not happen, the auditor should revise the previous assessment and reduce confidence in it, expand the audit sector by introducing additional procedures. If the error is associated with the participation of the management of the enterprise, then the auditor must provide for the reliability of the previously obtained information and data.
The auditor is obliged to inform the management of the enterprise about the identified error in a timely manner at any level of the impact of violations on the financial statements.
The judgment of a significant error must be evidentiary. When doubts arise as to the degree of involvement of the management of the enterprise in the identified violations, the auditor should obtain legal advice on the acceptability of the relevant legislative procedures.
5) in the preparation of financial statements. The information contained in the explanatory notes is not material. The deadlines for submission of financial statements were violated. Quarterly financial statements are not published by those organizations that are obliged to do so. ( Pension Fund Russian Federation, the Social Insurance Fund of the Russian Federation, the State Employment Fund of the Russian Federation and their regional offices, etc.). The greatest number of errors is allowed in the use of the calculation method estimated values, the accuracy, completeness and consistency of the data on which the estimate is based. The information used in the calculation sometimes contradicts the accounting data. There are mistakes when the management of an economic entity chooses methods for calculating estimated values. The rules for analyzing estimated values information are not followed. 00 Errors in compliance with and use of the LO accounting methodology production stocks:
lack of primary documents MSW is obligatory - No. details in them;
corrections in accounting entries were made without registration, relevant certificates;
the calculation option used does not correspond to the option provided accounting policy organizations4
there are no agreements on liability of accountable persons;
the deadlines for conducting an inventory of inventories are not observed;
balances on the accounts of the General Ledger, synthetic and analytical accounting data are not confirmed;
donated assets are not used to increase capital.
INTRODUCTION
In the process economic activity organizations constantly conduct settlements with suppliers for fixed assets, raw materials, materials and other inventory items purchased from them, work performed and services rendered; with buyers - for the goods they bought, with credit institutions for loans and other financial transactions, with the budget and tax authorities - for various kinds of payments; with other bodies and persons - on various business transactions.
Cash payments are made either in the form of non-cash payments or in cash. Non-cash payments in a developed market economy are carried out using bills and checks that replace cash, non-cash transfers on settlement and current accounts of customers in banks, through a system of correspondent accounts between different banks, as well as offsetting mutual claims. Unlike cash payments, when money is directly transferred by the payer to their recipient, non-cash payments are carried out for the most part with the help of various banking, credit and settlement operations that replace cash in circulation. The use of non-cash payments reduces the cost of money circulation, reduces the need for cash, contributes to the concentration of free funds of organizations in banks, and ensures their more reliable safety.
A clear organization of settlements between suppliers and buyers has a direct impact on the acceleration of the turnover of working capital and the timely receipt of funds.
The main part of the calculations falls on suppliers and buyers, so this section of accounting is taken as the one studied in this thesis.
main goal thesis is the improvement of settlements with suppliers and buyers in JSC "Omsk Bacon".
OJSC "Omsk Bacon" is a recognized leader of the pig-breeding complexes currently existing in Russia and the largest producer of pork meat. As the largest producer of pork meat in Russia, the company has the most extensive network of consumers for its products.
In accordance with the goal, the following questions were worked out:
The main sources of data for the thesis work were the works of scientists, economists, financiers, accountants on improving settlements and accounting with suppliers and buyers, annual reports organizations, performance indicators for the last three years, periodic financial statements.
1. THEORETICAL BASES OF SETTLEMENTS WITH SUPPLIERS AND
BUYERS
In market conditions, the issues of a clear organization of monetary settlements are of particular relevance, since the monetary stage of capital circulation plays a huge role in the activity economic entities.
The transition from the administrative-command system of economic management to market relations is caused by the need to create a new payment system based on a two-tier system of banks. It required the separation and isolation of the monetary capital of various economic entities, the formation of independent commercial banks.
Qualitative changes in the organizational forms of cash settlements occurred as a result of an increase in the economic activity of all market entities, an expansion in the number and volume of transactions. A huge number of new commercial structures appeared, which affected the sharp increase in the document flow associated with servicing the payment system as a whole. The restructuring of the payment system required a change in the principles of organization of cashless payments, the use of new forms and methods of making payments.
The importance of a well-organized system of non-cash payments increases many times in the face of the need to overcome a serious crisis of non-payments, when a huge mutual debt, delay in payments at any one link affects key indicators their industrial and commercial activities.
Any organization makes cash payments both as a buyer and as a seller. The organization also carries out cash settlements with the staff and pays off with the budget and the bank. The totality of all cash payments is the payment turnover. A significant part of the payment turnover is carried out in a non-cash way, i.e. making entries (postings) on bank accounts. Cash is used mainly in the payment turnover, in which the population participates, as well as in settlements for small amounts.
Cashless payments have been widely used in the development process banking system and have a number of advantages over settlements using cash.
As long as settlements are made non-cash, money is deposited in banks, which become credit resources. Cashless payments help to reduce distribution costs in the form of additional costs for printing, storage, transportation, recalculation of a huge amount of banknotes that were required for cash settlements. At the same time, non-cash payments with the efficient operation of banks make it possible to better regulate the payment turnover and, ultimately, speed up the turnover of working capital and making payments.
It should be noted that money that is the personal property of citizens and stored in the form of savings in bank accounts can also participate in non-cash circulation. Payment of expenses of the population in a non-cash way can be carried out from accounts on deposits. Substitution in these cases by cash also reduces distribution costs.
Non-cash payments are regulated by the Regulation of the Central Bank of October 3, 2002 No. 2-P “On non-cash payments in Russian Federation» (as amended on March 3, 2003) According to this provision, there are several forms of non-cash settlements: settlements by payment orders, settlements under a letter of credit, settlements by checks and settlements by collection (clause 1.2 of the Regulations of the Central Bank of October 3, 2002 No. 2-P "About non-cash payments").
One of the forms of non-cash payments is a payment order. Payment order- this is a document that is an order of the organization to the bank serving it to transfer a certain amount from its account. Orders are valid for 10 days excluding the day of issue.
The bank accepts a payment order from the payer for execution only if there is money in his current account. If there are no funds for payment and the bank does not consider it possible to issue a loan to the enterprise, then the document is returned.
When making settlements by payment orders, the payer submits the order in three copies to his bank. Documents from the payer's bank are sent to the bank serving the buyer. In this case, the funds indicated in the payment order are debited from the payer's settlement account and sent to the recipient's bank for crediting to his current account. Upon receipt of a payment order, the beneficiary's bank transfers the received funds to the buyer's current account.
Rice. 1 - Scheme of settlements by payment orders in case of advance payment for inventory items.
2 - transfer of the buyer's funds for crediting to the supplier's settlement account;
3 - message to the supplier about the receipt of the payer's funds;
4 - delivery of inventory items after receipt of payment.
When paying for goods and services rendered, a settlement check is also used. It is paid from deposited funds, i.e. specially deferred, on a separate checking account. Checks can be paid from the current account of the drawer, but not more than the amount guaranteed by the bank (agreed upon with the drawer when issuing checks). In this case, the bank can guarantee payment in the event of a temporary lack of funds from the allocated loan. The amount of bank guarantees within which checks can be paid is accounted for in a special off-balance sheet account.
In order to obtain a checkbook, an enterprise must submit an application in one or two copies, if the payment is guaranteed by the bank. The application is signed by persons entitled to dispose of funds from the current account. The application shall indicate the account number from which checks will be paid. When issuing checks with pre-deposit, this amount remains in the checking account. In order to secure payments by checks with funds deposited, together with the application for issuance of a check, the applicant must submit a payment order for the transfer of funds from a current account to a checking account.
Before issuing a check to a client, the bank is obliged to fill in all the details of the check so that in the future both the recipient and the bank have all the necessary data for the correct execution of the cash payment. The completed check is handed over by the payer to the organization providing services or transferring goods. The supplier sends the received completed checks to his bank to collect money from the payer. Upon receipt of the check, the bank credits the amount of the check to the account of the beneficiary. Then the documents are transferred to the payer's bank for debiting the funds from the checking account.
When paying by checks, limited checkbooks can be used, when issuing which the bank deposits money in advance in a separate account. The cover of such a book indicates the limit, i.e. limit on the amount for which checks can be drawn. When paying by checks from limited checkbooks, money should be credited to the recipient only after the funds withdrawn from the drawer's account arrive. The client who is settled with a check from a limited checkbook presents it to his commercial Bank, and he sends the check by mail to the payer's bank. There, on the basis of this document, money is withdrawn and transferred to the bank of the payee.
You should pay attention to invalid checks that are presented in the absence of funds on the drawer's account and the bank does not guarantee their payment in advance. The check is also considered invalid if the amounts guaranteed by the bank are exceeded or it is issued after the date of sending the notice of refusal to guarantee payments.
Rice. 2 - The scheme of payments by checks when paying for inventory items with a preliminary deposit of funds.
1 - sending a package of documents for depositing funds on the account of the buyer-drawer;
2 - payment for ordered inventory items by presenting a check to the supplier;
3 - shipment of ordered inventory items;
4 - check collection and crediting of funds to the account of the supplier-check holder;
5 - notification of the buyer's bank about the debiting of funds from the deposit account of the payer.
For non-cash payments, a letter of credit form of payment is used. A letter of credit is an obligation of a bank that arises on behalf of a client to make a payment to a supplier based on the documents provided confirming the fulfillment of the terms of the contract. With this form of payment, payment is made not at the bank serving the buyer, but at the location of the supplier. To make a payment, the buyer applies to the bank with an application containing a request to defer funds from his account for payment. Consequently, with a letter of credit, funds for payment for purchased goods are prepared in advance, deposited on a regular letter of credit account. The bank that opened the letter of credit (issuing bank), on behalf of the payer-buyer, transfers funds to the supplier's bank. Money will be credited to the supplier's account only if all the conditions stipulated in the letter of credit are met.
The execution of the letter of credit is carried out directly by the bank serving the supplier-recipient of money.
With a deposited letter of credit, the issuing bank transfers the payer's own funds or the credit issued to him at the disposal of the supplier's bank (executing bank).
An uncovered, but at the same time, guaranteed letter of credit can be applied if two banks servicing settlement customers have correspondent accounts with each other. Then the letter of credit can be opened in the executing bank by granting this bank the right to write off the entire amount of the letter of credit from the account of the issuing bank maintained by it.
A revocable letter of credit is rarely used in settlements, since its terms can be changed or it can be canceled by the issuing bank without prior agreement with the supplier. The payer can give all orders to change the terms of a revocable letter of credit to the supplier only through the issuing bank, which notifies the executing bank of this, and the latter the supplier. However, the executing bank is obliged to pay for the documents that comply with the terms of the letter of credit, issued to the supplier and accepted by the supplier's bank before receiving notification of the change, cancellation of the letter of credit.
Irrevocable letters of credit are used quite often. They provide a firm obligation of the bank to make payments under the letter of credit when all its conditions are met. bank letter of credit cannot be changed or canceled without the consent of the supplier in whose favor it is being opened. The supplier may terminate the use of the letter of credit ahead of schedule, if it is provided for in the condition on which it was provided.
For settlements within the country, the letter of credit is intended only for settlements with one supplier, its validity period is determined in the agreement between the payer and the supplier. The letter of credit agreement usually indicates: the name of the issuing bank, the type of letter of credit, the method of notifying the supplier of the opening of a letter of credit, complete list documents provided by the supplier to receive funds, the terms for providing documents for payment after the shipment of goods.
The issuing bank opens uncovered (guaranteed) letters of credit by agreement with the buyer in accordance with the established correspondent relations with another bank serving the supplier. To open a letter of credit, the payer must submit to his bank (issuing bank) an application on the form of the established form containing a list of data that allows you to check the completeness of the agreement between the supplier and the payer.
To receive money, the supplier provides the bank with documents (registers of accounts, etc.) confirming the fulfillment of all conditions of the letter of credit application. In cases where the conditions provide for acceptance, i.e. prior consent of the authorized buyer, the presence of an acceptance signature is checked. Registers of invoices are not accepted for payment without indicating the numbers of transport documents, the type of transport on which the goods were sent.
Registers of invoices payable to the supplier's bank are presented in three copies, one of which is used as a material order when making accounting entries. The other is given to the supplier as a receipt, and the third with the bank's mark is sent to the issuing bank for delivery to the payer. A letter of credit opened with the supplier's bank is closed upon expiration, which is notified by the issuing bank. If claims arise against the supplier, they are considered by the participants in the settlement transaction without the intervention of the bank. The advantage of this form of payment is that there is no delay in paying for products and services, the money is prepared in advance and the recipient of the funds is sure that he can immediately, even on the day of shipment, receive the money due to him.
In the executing bank, payment for products to the supplier is made not at the expense of funds booked in advance, but only if a correspondent relationship has been established between the executing bank and the issuing bank.
Rice. 3 - Scheme of settlements by means of letters of credit in case of advance payment for inventory items.
1 - notification of the supplier about the readiness for shipment of the ordered inventory items;
3 - bank transfer the supplier's funds to pay for the ordered inventory items;
4 - notification of the supplier about the receipt of funds and payment of settlement documents for the shipment of inventory items;
5 - shipment of valuables after their payment at the expense of the buyer's letter of credit.
With the acceptance form of payment, payment requirements are widely used when payments are not made immediately after the shipment of the goods and the issuance of trade documents. Having shipped the goods, the supplier issues payment requests in the appropriate number of copies and submits them for collection. Payment for goods or services is made to the bank serving the buyer.
A payment request is a settlement document containing a requirement of the creditor (recipient of funds) under the main agreement to the debtor (payer) to pay a certain amount of money through the bank. (clause 9.1 of the Regulations of the Central Bank of October 3, 2002 No. 2-P "On non-cash payments")
The payment request contains all the necessary details that allow you to determine which goods are shipped, what is its grade, price, time of shipment, etc. The supplier does not send these documents to the buyer himself, but instructs his bank to collect the payment. The supplier sends the prepared documents to his bank with an instruction to collect funds from the payer. This order is the collection. The bank, accepting documents for collection, undertakes to send them on time to the bank serving the buyer, collect funds from him there and transfer them to the supplier's settlement account. After checking the documents for collection, they are sent to the bank serving the buyer. Incoming money, the supplier's bank credits to the account of the latter. The bank serving the buyer, having received the payment requests sent by the supplier's bank, informs the buyer about it, who, having familiarized himself with the documents, agrees to the payment or refuses to accept. The buyer accepts the invoice only if the supplier fulfills all the conditions of the contract, i.e. will deliver products of the required quality, in the ordered volume, according to set price etc. If the supplier violates at least one condition, then the buyer does not agree to the acceptance, therefore, the supplier will not have an act of sale. Invoice acceptance is not only a legal, but also an economic act that controls the fulfillment of the contract by suppliers.
Having received consent to payment, the bank pays for the documents and transfers the funds to the bank where the supplier's settlement account is maintained. If a settlement documents must be paid from the buyer's current account, but there was no money, and if the company does not have the right to a loan, then these documents are placed in a special file cabinet of untimely paid documents (file cabinet No. 2). This is reported to the supplier, and for the day of delay in payment, the buyer is charged a penalty in the claim procedure in the amount provided for in the contract.
Settlements by payment claims may be used if they are provided for in agreements between suppliers, buyers and their banks for shipped material assets, work performed, services rendered and for other claims, invoices for which have not been paid by payers.
During the waiting period for acceptance, the documents are in file cabinet No. 1. If the payers do not have funds, the accepted payment documents are placed in file cabinet No. 2 and their payment is made as funds are received in the established queue.
Rice. 4 - Scheme of settlements by payment requests for the subsequent payment of inventory items.
1 - supply of inventory items in accordance with the concluded contracts;
4 - notification of the bank about the consent of the buyer to make a payment;
5 - transfer of funds of the buyer to be credited to the supplier's settlement account.
Collection settlements are banking operation, through which the bank, on behalf of and at the expense of the client, on the basis of settlement documents, performs actions on behalf of the payer of the payment. Settlements for collection are carried out on the basis of payment requests and collection orders.
A collection order is a settlement document, on the basis of which funds are debited from the payers' accounts in an indisputable manner. Collection orders apply:
In cases where an indisputable procedure for collecting funds is established by law, including for the collection of funds by bodies performing control functions;
To collect on enforcement orders;
In cases stipulated by the parties under the main agreement, provided that the bank servicing the payer is granted the right to debit funds from the payer's account without his order.
Another form of non-cash payments is a bill. A bill of exchange is a written promissory note containing a certain set of details, according to which the owner of the bill (bill holder) has an indisputable right, after the expiration of the obligation, to demand from the debtor the sum of money indicated in the bill. Bills are simple (solo-bill) and transferable (draft).
In a promissory note indicate the place and date of its drawing up, the amount debt obligation, terms, place of payment, name of the creditor to whom payment is to be made, name and signature of the borrower-drawer.
A bill of exchange is a written order of the drawer (drawer) to the payer (drawer) on the payment of a certain amount to the holder of the bill (payer). It is designed to transfer values from the disposal of one person to the disposal of another. A bill of exchange can be issued (traced) to another person only if the drawer has a receivable from the payer. It contains the following details: the word "bill", the proposal: "to pay a certain amount", the name of the drawee (payer), the date and place of the bill, the name and signature of the drawer (drawer).
After issuance, a bill of exchange may remain with the bill holder until the due date of payment, be transferred by means of an endorsement (endorsement) to another organization in payment for the goods, or used to obtain a loan from a bank.
The holder of a bill of exchange (payer) of a bill of exchange must present the bill of exchange to the payer (drawee) for acceptance and payment in a timely manner. Acceptance means an agreement to pay a bill. By accepting the bill, the payer (drawee) makes an inscription on the front side of the bill "Accepted", "I undertake to pay", and also indicates the date of acceptance, signs and seals. Acceptance cannot be conditioned by anything, i.e. made dependent on the performance or non-performance of the recipients of the payment of any action, etc. Any change made by the drawee in the content of a bill of exchange is tantamount to a refusal of acceptance.
If the payer has not paid the amount of the bill, then the drawer of the bill of exchange must repay it.
Significantly accelerates the turnover of funds accounting (discounting) bills in banks. In this case, the holder of the bill, by means of endorsement, transfers the bill to the bank before the maturity date and receives the bill amount minus the discount rate in favor of the bank, called the discount.
Calculations are ok planned payments are produced in cases where stable economic and settlement relations have developed between the buyer and the supplier, and deliveries are of a regular nature.
The buyer pays for incoming products in equal amounts within the terms established by the contract between the supplier and the buyer, for example, once every 10 days. Settlement documents can be issued by the supplier or the buyer. Counterparties periodically update the status of settlements and, based on the actual release of goods, recalculate (once every 5-10 or 15 days). This form of calculation can significantly reduce the amount of accounting work.
In settlements based on the offset of mutual claims, the mutual obligations of debtors and creditors to each other are repaid in equal amounts, and only the difference is paid in the prescribed manner. Mutual offsets can be one-time and permanent. The terms and procedure for settlements are established by an agreement between organizations in agreement with the bank.
1.2 Accounting for settlements with suppliers and buyers
As already noted, in the process of circulation of funds of organizations, they go through a phase of circulation. For normal production activities, organizations must acquire the necessary material values: oil products, spare parts, mineral fertilizers, other materials - the stage of circulation (D-T). At this stage, the organization has a wide settlement relationship with suppliers: logistics organizations of organizations, etc.
After the completion of the production stage, the products obtained at the enterprise are sold - the stage of circulation (T-D). At the same time, enterprises also enter into settlement relations, but with organizations that purchase products (procurement organizations: meat processing plants and livestock reception points, etc.).
Having received cash proceeds for sold products (D), the organization uses these funds to finance production costs, as well as to make necessary payments to the state for taxes, social insurance, etc. As a result, the organization has settlement relationships with financial authorities, social security authorities, and insurance organizations.
In some cases, an organization has settlement relationships with individuals.
Organizations can have settlement relationships with a variety of organizations, as well as with various enterprises and associations. Thus, the settlement relationships of the organization are diverse. They include settlements with suppliers, buyers, other organizations, financial authorities, etc.
1.2.1 Accounting for settlements with suppliers and contractors
Suppliers are organizations that, in accordance with the concluded agreements, supply raw materials, goods, semi-finished products, fixed assets and other inventory items.
The contracts indicate: the name of materials (values), quantity, price, terms of the contract and supplies, method of transportation, payment procedure, procedure for accepting materials, sanctions for violation of the terms of the contract, etc.
The supplier organization carries out the shipment of products on the basis of waybills, waybills. For the shipped valuables, the supplier issues an invoice, an invoice and a payment request for the collection of the debt arising from the delivery.
The following details are filled in the invoice: the name of the supplier and his address, the bank account number at his location, the station of departure and destination of the cargo, the date and method of shipment, etc. It indicates the name, quantity, price and amount, as well as total amount to which the goods are shipped. The document must make a reference to the contract-order, according to which the material assets are released, the numbers of receipts and invoices for the shipped (shipped) material assets are indicated.
Thus, the account serves as the basis for issuing bank payment documents for the transfer of debt.
In case of discrepancy between the received cargo and the invoice data, a commercial act is drawn up and a claim is made to the supplier.
In addition to invoices, invoices are used to account for value added tax, introduced by Decree of the Government of the Russian Federation of December 2, 2000 No. 914 (as amended and supplemented by March 15, 2001, July 27, 2002) registers of received and issued invoices, books of purchases and books of sales when calculating value added tax.
According to this resolution, organizations, along with invoices, keep registers of received and issued invoices, books of purchases and sales for value added tax. The invoice is issued by the supplier to the buyer in two copies: one copy is provided to the buyer within five days from the date of shipment, and the second copy of the invoice remains with the seller to be reflected in the sales book and charge VAT on sold products.
The invoice must contain the following details: name, address, tax identification number of the supplier and buyer; name and address of the consignor and consignee, name of the goods supplied, quantity, price per unit, value of goods for the total number of goods supplied on the invoice without tax, tax rate and amount of tax charged to the buyer of goods, value of the total number of goods including tax, country origin of the goods and the number of the cargo customs declaration. The invoice is signed by the head and chief accountant of the organization or persons authorized to do so by order of the organization or a power of attorney on behalf of the organization. (Article 169 of the Tax Code of the Russian Federation)
Suppliers maintain a sales book, which is designed to register invoices. The purpose of maintaining a sales book is to determine the amount of value added tax on shipped goods, work performed and services rendered.
The sales book reflects all the details contained in the invoices, and the VAT amounts are recorded separately for goods with a tax rate of 10% and 20%, tax-free sales are shown separately, of which exports.
In turn, the buyer of goods, works, services keeps a book of purchases, in which invoices submitted by suppliers are registered. The purpose of maintaining a purchase ledger is to determine the amount of tax to be credited (reimbursed) in accordance with the Tax Code.
The amount of VAT on purchased (received) and paid inventory items is accepted for offset from the buyer only if there is an original invoice confirming the cost of the purchased goods and a record of this in the purchase book.
The purchase book includes all the details of incoming invoices from suppliers, and the tax amounts are recorded separately for goods at a tax rate of 20% and 10%, purchases that are not taxed under current legislation are shown separately.
For every reporting period totals are displayed in the purchase and sales books, which are used to draw up a declaration for value added tax.
Upon receipt of material assets, the purchasing enterprise checks the compliance of their assortment with the contracts, registers in the register of incoming goods, makes a note in the register of completed contracts and accentuates the invoice, i.e. consents to payment. From this moment in accounting there are settlements with suppliers.
Distinguish between invoiced and non-invoiced deliveries. Invoiced deliveries are issued by the listed accompanying documents. For non-invoiced deliveries, the assessment of received inventory items is carried out at the prices stipulated in the contracts.
Settlements with suppliers for the supply of production raw materials and services rendered, as well as with contractors for the work performed, are accounted for on synthetic account 60 “Settlements with suppliers and contractors”.
Account 60 "Settlements with suppliers and contractors" is used to record settlements:
a) for the received inventory items, work performed and consumed services, including the provided communication services, thermal and electrical energy, gas, steam, water, etc., as well as for the delivery and processing of material assets, settlement documents for which are accepted and payable through a bank;
b) inventory items, works and services, settlements for which are made in the order of planned payments;
c) inventory items, works and services for which settlement documents from suppliers and contractors have not been received (the so-called non-invoiced deliveries);
d) surplus of inventory items identified during their acceptance;
e) transportation services received, including settlements of shortfalls and excesses of the tariff (freight);
f) other works and services.
Organizations involved in the performance of the contract building contract, a contract for the performance of research, development and technological work and another contract for the function general contractor(parent organization), settlements with its subcontractors (executors) are reflected on account 60 “Settlements with suppliers and contractors”.
All transactions related to settlements for acquired tangible and intangible assets or consumed services are carried out on account 60 "Settlements with suppliers and contractors" regardless of the time of payment of the presented invoice.
The form of payment for the supplied values and services rendered is chosen by the organization of the supplier and the buyer independently and is provided for by the contract.
Settlements with suppliers and contractors can be made in the order of planned payments, preliminary full or partial prepayment by payment orders, at the time of receipt of material assets - by checks, before receipt of material assets - by a letter of credit, subsequent payment after receipt of material assets by payment requests submitted by the supplier. Without the consent of the enterprise, claims for the supplied gas, water, heat and electrical energy, communication services, postal and telegraph services.
It is possible to accept and pre-pay the supplier's invoice before the cargo arrives. If, upon arrival at the warehouse, a shortage is detected or a price discrepancy is established, stipulated by the agreement, a commercial act is drawn up to present claims to the supplier.
Account 60 "Settlements with suppliers and contractors" may have a debit and credit balance. The debit balance reflects the debt of suppliers and contractors for received advances, prepayments, overpayments. The loan balance indicates the amounts owed to suppliers and contractors for received inventory items, work performed, services rendered on unpaid invoices and uninvoiced deliveries.
Account 60 "Settlements with suppliers and contractors" is credited according to the supplier's settlement documents for the cost of inventory items, works, services accepted for accounting in correspondence with the accounts of these values or the accounts of the corresponding costs.
For uninvoiced deliveries, account 60 “Settlements with suppliers and contractors” is credited for the value of the received valuables at the prices stipulated in the contract.
Account 60 "Settlements with suppliers and contractors" is debited for the amount of fulfillment of obligations to pay bills, including advances and prepayments, in correspondence with cash accounts, sales - for barter transactions.
Analytical accounting on account 60 “Settlements with suppliers and contractors” is kept for each presented invoice, and for settlements in the order of planned payments - for each supplier and contractor. Accounting should be organized in such a way as to provide the possibility of obtaining the necessary data on suppliers:
According to accepted and other settlement documents, the payment deadline for which has not come;
Payment documents not paid on time;
Uninvoiced deliveries;
Advances issued;
Issued promissory notes, the due date of which has not come;
Overdue bills of exchange;
Received a commercial loan.
Upon receipt of values previously paid in advance, shortages, price discrepancies or arithmetic errors may be detected. Account 94 “Shortages and losses from damage to valuables” are deducted from the amounts of losses exceeding the norms of natural loss along the way, the difference between prices and tariffs, the discrepancy between the quality or quantity of inventory items of the specification before the decision of the judicial authorities. When the claims are confirmed by the judicial authorities, these amounts are credited to account 76-2 “Calculations on claims”, and if they are rejected, they are written off to account 99 “Profit and loss”. In this case, account 60 “Settlements with suppliers and contractors” is credited for the corresponding amount in correspondence with account 76 “Settlements with different creditors” sub-account “Settlements on claims”.
When settling with suppliers and contractors by bills of exchange, the buyer (payer) issues a bill of exchange to the supplier (the bill specifies the procedure for settlements, and it is an accepted payment document). At the same time, the debt secured by the promissory note is not debited from account 60 “Settlements with suppliers and contractors” before the due date for its payment. The specified debt is issued accounting entry: D60 “Settlements with suppliers and contractors” K 66 “Settlements for short-term loans and loans."
For the provided short-term loans, the organization pays the creditor bank interest, which is charged to operating expenses.
Analytical accounting on account 60 “Settlements with suppliers and contractors” can be kept in different ways: on accounting cards, by name of suppliers. To check the correspondence of the data of analytical and synthetic accounting, entries from the cards are transferred to the turnover sheet.
In the journal-order form, analytical accounting of settlements with suppliers and contractors is carried out for each supplier and contractor in journal-order No. 6.
Preliminary records of transactions on goods and materials shipped or received from suppliers, works or services accepted from contractors are made in registers of transactions for settlements with suppliers (contractors) opened for each supplier (contractor). In the registers, settlement transactions are recorded in chronological order on the basis of waybills, invoices and other settlement documents. Monthly debit and credit turnovers on account 60 “Settlements with suppliers and contractors” in monetary terms are transferred from the registers to journal-order No. 6, in which one line is allocated for each supplier and contractor.
At the end of the month, in the order journal No. 6, the total turnover and balance at the end of the month are calculated. Turnovers in journal-order No. 6 are compared with the turnovers of corresponding accounts reflected in other journal-orders, after which the monthly totals for the credit of account 60 “Settlements with suppliers and contractors” from the journal-order are transferred to the general ledger. On the front side of the journal-order No. 6 there is a table in which for each month the dates of entries, the date of reflection of turnovers in the general ledger, as well as the signatures of the executor and the chief accountant are reflected. On the last page of the journal-warrant No. 6 there is a table "Summary and control data on account 60". It contains the following data for each month: the credit balance at the beginning of the month, the debt of suppliers and contractors, the turnover on the credit and debit of account 60, the balance of account 60 at the end of the month separately in credit and debit, the credentials of the order journal No. 6 for the credit balance to accepted and presented for acceptance accounts, debit balance at the end of the month.
1.2.2 Accounting for settlements with buyers and customers
Payments for products shipped to customers, goods, work performed and services rendered can be made in cash within the established limit, full or partial prepayment, non-cash through bank accounts, bills of exchange, barter.
On shipment finished products, goods to buyers without full prepayment arises receivables. It sets a deadline for the fulfillment of obligations - four months, after which the receivables are written off to losses without reducing taxable profits.
Accounts receivable written off at a loss are not analyzed, but are reflected off the balance sheet within five years for the possibility of recovering the debt that has arisen from the insolvent debtor-buyer.
To account for settlements with buyers, account 62 “Settlements with buyers and customers” is used. This account is active and has a debit balance. It takes into account the debt of buyers in favor of the organization. Operations for the sale of products to customers are reflected in this account as follows. The debit of the account indicates the accrual of debt in favor of the organization from buyers for the goods sold, and the credit indicates the repayment of this debt. To account 62 "Settlements with buyers and customers" sub-accounts can be opened:
62-1 "Settlements under government contracts"
62-2 "Settlements in the order of collection"
62-3 "Calculations by planned payments"
62-4 "Promissory notes received"
62-5 "Settlements with other buyers and customers"
On subaccount 62-1, settlements with organizations for products sold are taken into account in the order of execution government contracts(contracts) for the supply of products.
On subaccount 62-2, settlements with buyers are taken into account in the acceptance form; on subaccount 62-3 - in case of settlements in the order of planned payments.
Sub-account 62-4 reflects bills received from buyers instead of direct payment for products sold.
Subaccount 62-5 takes into account settlements with various organizations for products sold, settlements with the population, other settlements with buyers and customers for work and services performed.
All settlements of organizations with buyers are based on the contracts concluded with them, which indicate the terms and conditions of delivery, payment procedure, etc. Documents for the emergence of settlement relationships with buyers are acceptance receipts, the forms of which are different depending on the type of product sold: grain, vegetables, fruits, livestock, etc. (about 20 species). The acceptance receipts indicate which products are accepted and in what quantity (in natural and test weight), payment due, etc. The acceptance receipt is the basis for registration in accounting registers in settlements with buyers.
Account 62 “Settlements with buyers and customers” is debited in correspondence with accounts 90 “Sale”, 91 “Other income and expenses” for the amount for which settlement documents are presented. Account 62 is credited in correspondence with the accounts of cash, settlements for the amount of payments received, including the amount of advances received, etc. In this case, the amounts of received advances and prepayments are accounted for separately.
If an interest is provided on the received bill that secures the debt of the buyer (customer), then as this debt is repaid, an entry is made: D51 “Settlement accounts” (52 “ Currency accounts”) To 62 “Settlements with buyers and customers” - for the amount of debt repayment - and 91 “Other income and expenses” - for the amount of interest.
Analytical accounting on account 62 “Settlements with buyers and customers” is kept for each invoice presented to buyers, and settlements by planned payments - for each buyer and customer.
With this construction of analytical accounting, it should be possible to obtain data:
For buyers and customers for settlement documents, the payment deadline for which has not come;
Buyers and customers for settlement documents not paid on time;
advances received;
Promissory notes, the date of receipt of funds for which has not come;
Promissory notes discounted in banks;
Promissory notes for which funds were not received on time.
Accounting for settlements with buyers and customers for groups of interrelated organizations, on the activities of which consolidated financial statements are compiled, is kept on account 62 “Settlements with buyers and customers” separately.
Account transactions are kept in order journal No. 11. At the end of the month, the turnover on account 62 “Settlements with buyers and customers” is calculated in it and compared with the data of this account reflected in other accounting registers. After reconciliation, the credit turnover on account 62 is transferred to the general ledger.
2.1 Economic characteristic OJSC "Omsk Bacon"
Open Joint Stock Company "Omsk Bacon" is a recognized leader of the pig-breeding complexes currently existing in Russia and the largest producer of pork meat in the country.
The history of Omsk Bacon began in 1920 with a small farm, which had 220 pigs, 62 cows and 305 horses. The economy received a powerful impetus in development in the 70s with the construction of Luzinsky and then Chunaevsky pig farms, a reproductive breeding plant and a breeding and hybrid center. The latter extends its influence to the regions of the Urals, Siberia and the Far East. Since 1995, Omsk Bacon has been developing the purchased in the UK modern system hybridization, the full implementation of which will mean a new step in domestic pig breeding.
The economic integration of Omsk Bacon with the Luzinsky feed mill located on its territory made it possible to fully meet the needs of the enterprise with the cheapest feed in Russia, balanced in all nutrients.
OJSC "Omsk Bacon" also has a unique system for the disposal of pig waste, which makes it possible to carry out fertilizing irrigation of agricultural crops in the summer on an area of about 7,000 hectares in compliance with environmental protection requirements.
The products of Omsk Bacon are processed at three meat processing plants in the Omsk region, they are known in most regions of Asian Russia, as well as in Moscow, St. Petersburg, the Volga region, and the Urals. Currently, the company has created its own sausage shop with a capacity of 20 tons of finished products per day, produced on the basis of the most modern technologies. in Omsk and industrial centers networks of branded stores for the wholesale and retail sale of meat products have been created in neighboring regions.
Omsk Bacon OJSC is making every effort to successfully enter the market and is looking for new ways of cooperation, both in terms of selling its products, and in reconstructing the material base, investing in projects that pay off quickly.
Production efficiency is an economic category that reflects a wide range of operating conditions productive forces and production relations, which shows the effectiveness of the functioning of the means, objects of labor and labor.
Each manufacturing enterprise has available the resources necessary for production: land, means of labor and objects of labor, labor resources. The efficiency of any production depends on effective use these resources.
Let's consider the availability and efficiency of the use of resources in Omsk Bacon OJSC.
Land is the main means of production in agriculture. It is the first prerequisite and the natural basis of any production and the most important condition for the existence of human society.
The structure of the land fund of JSC "Omsk Bacon" is presented in table 1.
Table 1 - Composition and structure of the land fund and agricultural land.
|
Type of land |
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|
Total land area |
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|
Total s./x. land |
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|
Of these, arable land |
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|
hayfields |
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|
pastures |
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|
Ponds and reservoirs |
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Shrub area |
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|
personal plots |
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Other lands |
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In 2002 Omsk Bacon OJSC was assigned 31,102 hectares of the total area, including 29,848 hectares of agricultural land, of which 27,218 hectares are arable land.
A significant part of the total land area of the economy in 2002 is occupied by agricultural land - 95.96%. Other lands in agriculture occupy - 2.65%. A significant part of the agricultural land is occupied by arable land - 91.18%. This indicates a high level of land use. The arable land is completely sown with grain and fodder crops to provide feed for the pig breeding industry. The total land area in 2002 compared to 2000 increased by 3469 ha, and agricultural land - increased by 3394 ha, which was affected by an increase in arable land by 3077 ha and pasture area by 253 ha. The area of arable land has increased due to the lease of land, the improvement of other lands. Thus, there was an increase in the share of agricultural land in the total area from 95.73% to 95.96%.
An indispensable condition for the production of agricultural products is the availability and security of the economy with the means of production. The main indicators of the availability of the means of production are capital and capital-labor ratio. And indicators of the effectiveness of their use are capital productivity and capital intensity.
The availability and effectiveness of the use of the main backgrounds is presented in Table 2.
Table 2 - Availability, equipment and efficiency of use of fixed assets.
|
Indicators |
2002 in % to 2000 |
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|
Average annual cost of fixed assets, thousand rubles |
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|
Incl. production fixed assets for agricultural purposes, thousand rubles. |
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|
Area of agricultural land, ha. |
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|
End of table 2 |
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|
Number of workers employed in agriculture, people |
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|
The cost of gross output, thousand rubles |
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|
Capital security, rub. |
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|
Capital-labor ratio, rub. |
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|
Return on assets (per 1000 rubles of funds), rub. |
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|
Capital intensity, rub. |
||||
For the reporting period, the economy has means of production worth 1,869,051 thousand rubles. Of these, agricultural production assets amount to 1477502 thousand rubles or 79%.
Based on the data in Table 2, it can be seen that by increasing average annual cost production fixed assets by 45.07% in 2002 compared with 2000, the capital ratio increased by 28.58%, and the capital-labor ratio - by 30.27%. And also due to an increase in the cost of production fixed assets (due to their annual revaluation) and due to an increase in the cost of gross output by 86.21%, capital productivity increased by 28.36%, and capital intensity decreased by 22.22%.
A necessary condition for the implementation of the production process is the presence labor resources.
The greatest economic efficiency of production is achieved only when the means of production are combined with the labor force in a strictly defined quantitative and qualitative proportion. In agriculture, the incomplete use of labor resources reduces the total amount of output, which is extremely unprofitable both for society as a whole and for each farm.
the most important economic category, which characterizes the efficiency of the use of labor, is labor productivity, that is, the ratio between working time and the amount of output received. The higher the productivity per unit of working time or the less time spent on the production of a unit of output, the higher this indicator.
The level of labor productivity and labor force utilization are presented in Table 3.
Table 3 - Level of labor force, productivity and labor force utilization.
|
Indicators |
2002 to 2000 in % |
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|
Gross output, thousand rubles |
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|
Worked - total, thousand people -h. |
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|
Average annual number of employees in agricultural production, pers. |
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|
Produced gross output per 1 person. - hours, rub. |
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|
Gross output per 1 average annual worker, rub. |
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|
Actually worked by 1 employee, hours |
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The number of workers employed in agricultural production in 2002 is 70.79% of the total. There has been an increase in the number of workers employed in agriculture, this is due to the increase in operators and other specialists at pig farms, the Novokhutorsky breeding plant, and the breeding and hybrid complex. There is an increase in production by 16.38% in hours and by 16.67% in days.
Labor productivity per average annual employee increased by 67.21%, as there was an increase in gross output by 86.21% and an increase in the number of employees by 11.36%, automation of production processes. Overall labor productivity in the household increased by 43.73%.
Specialization - the predominant development of a particular industry, a group of interrelated industries, their transformation into commodity industries that determine the production direction of the economy. The main indicator characterizing the specialization of the economy is the structure of marketable products, specific gravity individual industries in all commercial products.
Based on the following table 4, it is possible to determine the specialization of JSC "Omsk Bacon".
Table 4 - Composition and structure of marketable products, thousand rubles.
|
Branches and types of products |
For 3 years in % of the total |
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|
Crop production: |
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Cereals |
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Livestock products |
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Pig breeding |
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Products of processing of purchased raw materials |
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Products of auxiliary industries and crafts |
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Works and services |
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Total household chores |
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In general, over the past three years, in the structure of marketable products, a significant share belongs to livestock products - 86.39%. The main industry is pig breeding, as the share of pig breeding from livestock products accounts for 83.77%.
Rice. 1. - The structure of marketable products at JSC "Omsk Bacon"
Thus, OJSC "Omsk Bacon" is a pig breeding farm for raising pigs to bacon condition. In the horticultural sector, mainly a significant share belongs to cereals, which are necessary for the production of feed.
The successful production activity of any economy as a whole can be judged by the results of production - financial activities. The main indicators characterizing the effectiveness of the economic activity of the enterprise are profit, profitability and cost of manufactured and sold products.
Profitability is one of the main performance indicators of the enterprise. Profitability shows the efficiency of production in terms of profit per unit of material and labor costs for the production and sale of products. The level of profitability of individual types of products makes it possible to determine which types of products are most profitable to produce on the farm, which has the greatest reserves for increasing the efficiency of social production. The higher the profitability of production, the more opportunities to accelerate the intensification, renewal, scientific and technological progress and financial situation workers and improve their well-being.
Now let's consider the level of profitability of the main types of products of JSC "Omsk Bacon" (Appendix A).
On the whole, in 2002 the farm received 551,269 thousand rubles of profit from the sale of products, including 554,564 thousand rubles from the pig breeding industry.
Over the past three years, Omsk Bacon OJSC has seen an increase in profitability from 24.17% to 36.79%. Animal husbandry is considered highly profitable, the profitability of which increases from 26.4% to 45.72%. Crop production at JSC "Omsk Bacon" in 2002 is unprofitable. The cultivation of pigs became highly profitable - 47.69%, and the cultivation of grain crops became unprofitable.
In general, JSC "Omsk Bacon" is a large pig-breeding complex that successfully operates in market conditions.
2.2 Analysis of the relationship of the organization with suppliers and customers
All organizations in the course of their activities constantly enter into relationships with other organizations. These relationships are called economic relations of the organization. Economic relations are a necessary condition for the activity of an enterprise, as they ensure the continuity of supply, the continuity of the production process and the timeliness of shipment and sale of products. Economic relations are drawn up and fixed by contracts, according to which one organization acts as a supplier of inventory items, works or services, and the other - their buyer, and therefore the payer.
OJSC "Omsk Bacon" also constantly enters into relationships with suppliers and buyers.
Organizational relationships are built in the following areas:
1. Suppliers who supply the organization with raw materials for feeding pigs. Feed is the initial raw material for the production of all types of livestock products. The main goal is the uninterrupted supply of animals with balanced feed to increase high-quality products at the lowest cost of labor and money, ensuring feed balance through high-quality and cheap feed components. For the production of feed, the following types of raw materials are used: grain (barley, wheat, rye, oats), farinaceous (bran), mineral (salt, phosphate, chalk), protein (fish meal), soybean, sunflower meal and cake, premixes, proteinaceous vitamin supplements and other types of raw materials. The main suppliers of grain raw materials are grain-growing farms of the Omsk region, mineral, protein and other types of raw materials - various processing enterprises of the Omsk region and other regions of Russia (for example, Altai and Krasnodar Territories). On the territory of the farm there is a Luzinsky feed mill, which sells feed to Omsk Bacon JSC.
2. Suppliers of other materials - fuel, fuels and lubricants, spare parts, equipment, overalls, food products (bread, bakery products, milk, dairy products, etc.), stationery, as well as contractors performing work for the enterprise (construction, installation , repair) and providing services (transport, communication services, electricity, water supply).
When Omsk Bacon OJSC purchases various inventory items from suppliers, a contract of sale is concluded between the organization and the supplier, which indicates the following (Appendix B):
2. Name of the buyer and seller.
3. Subject of the contract - the name of the products supplied by the supplier is indicated.
4. The quality of the goods. The quality must comply with the requirements of GOST, the quality must be confirmed by a certificate of quality, origin, warranty, safety, veterinary certificate and toxicity analysis results. If the goods do not comply with GOST, then the buyer has the right to refuse to pay and accept the goods and is not responsible for refusing to accept the goods.
5. Price of goods and delivery basis. This paragraph specifies the price per unit of production and the total amount of the contract.
6. Terms and order of delivery:
The goods are delivered to the buyer in accordance with the delivery schedule;
The seller must provide a quality certificate, a certificate of conformity, a veterinary certificate, a bill of lading, an invoice with the goods.
7. Terms and order of payment - the terms and form of payment (payment orders, bills) are indicated.
8. Responsibility of the parties:
The buyer pays for the delivered goods on time;
In case of non-compliance of the quality of the goods with the requirements of the contract.
9. Other terms.
10. At the end, the legal addresses of the parties are indicated, the contract is fixed with the seals and signatures of the parties.
As the largest producer of pork meat, sausages, and recently also dairy products in Russia, Omsk Bacon OJSC has the most extensive network of consumers of its products. The main consumer and buyer of meat and meat products is Omsk Meat Processing Plant JSC, which consumes up to 80% of all products manufactured by the enterprise. Relations with buyers are built on the basis of a contract for the sale of meat and meat products. The main terms of the contract are (Appendix B):
1. Number of the contract and date of drawing up.
2. Parties that have entered into an agreement.
3. Subject of the contract - the name of the product supplied by JSC "Omsk Bacon" is indicated.
7. Container and packaging:
8. Procedure and form of payments:
9. Liability of the parties:
Buyer
10. Order and resolution of disputes. Any dispute is subject to arbitration.
11. Duration of the contract. Basically, the contract is for 1 year.
12. Miscellaneous terms.
13. Legal and bank details.
14. Signatures of the parties.
JSC "Omsk Bacon" carries out barter transactions, and also carries out settlements based on the offset of mutual claims (Appendix D). The set-off agreement specifies the names of the organizations that participate in the set-off. This document must be certified by the signatures of directors, chief accountants and the seals of the participants in the offset.
Since 1998 JSC "Omsky bacon" has been entering into a commodity credit with grain-growing farms of the Omsk region. The essence of a commodity loan is to issue an advance payment to farms in the form of cash transfers for the purchase of oil products, spare parts, seed material against the next harvest of the current year. For granting a loan JSC "Omsky bakon" reduces the cost of grain by the amount of interest.
2.3 Analysis of receivables and payables at JSC "Omsk Bacon"
Information about receivables and payables is reflected in the balance sheet in expanded form: settlement accounts with a debit balance are held in an asset, and a credit balance in a liability. Line 230 of the balance sheet reflects accounts receivable, payments on which are expected more than 12 months after reporting date, the debt, payments on which are expected within 12 months after the reporting date, is reflected in line 240. In addition, based on the balance sheet indicators, it is possible to assess receivables by their types. Accounts payable are presented in the total amount on line 620 and in the context of settlement accounts with a credit balance.
The data on these balance lines are interconnected with the items in section 2 “Accounts receivable and accounts payable”(f. No. 5), which provides information on changes in receivables and payables for reporting year. The content of this form is supplemented by the indicators of the balance sheet and provides for the possibility of grouping receivables and payables:
In addition, you can extract information for analysis from this section and its reference information:
revealing additional information on the availability at the beginning and end of the reporting year of certain types of receivables and payables in form No. 5, the organization complies with the requirements of clause 27 of PBU 4/99. In addition, in explanatory note the results of the analysis of the fulfillment of the settlement and payment discipline, the completeness of the transfer of the relevant taxes to the budget, the paid (payable) penalties for non-fulfillment of obligations to the budget should be included in the financial statements.
In accordance with paragraph 134 methodological recommendations on the procedure for the formation of indicators of the financial statements of the organization in the explanatory note, the data of the articles for which other debtors and creditors are reflected in the accounting (lines 235, 246 and 628) are subject to disclosure.
The analysis of receivables and payables is carried out in three stages:
2.3.1 Analysis of the dynamics and structure of receivables and payables
In a generalized form, changes in the amounts of receivables and payables for the reporting year are characterized by balance sheet data.
Based on the data of the balance sheet of JSC "Omsk Bacon" we will analyze changes in the dynamics and structure of receivables and payables (Appendix D). The balance sheet currency is at the beginning of the year 2283561 thousand rubles, and at the end of the year - 344390 thousand rubles.
A significant proportion of receivables and payables in the composition of property and liabilities determines their significance in the assessment financial condition organizations. This amount is significant for their disclosure and explanation in the financial statements.
In 2002, accounts receivable from buyers and customers accounted for a significant share in the balance sheet. During the reporting year, the share of accounts payable in the balance sheet increases and a small share of accounts receivable decreases, which indicates problems that have arisen in the settlement and payment discipline of Omsk Bacon OJSC.
During the reporting year, the company repaid long-term accounts receivable. Short-term accounts receivable decreased by the end of 2002 by 3.83% and amounted to 6.69%. Although it refers to quick liquid assets, it can cause difficulties for the organization if the financial situation changes. The lack of a sufficient amount of cash is obvious, as the share of accounts payable is growing. By the end of the reporting year, it amounted to 5.08%, which is 0.16% higher compared to the beginning of the year.
The movement of receivables and payables arising and repaid during the reporting year, according to the temporary composition, is analyzed according to the data of form No. 5. The amounts reflected in lines 210 and 220 coincide with the balance sheet data in lines 240 and 230, respectively. The amounts of lines 230 and 240 of form No. 5 in the balance sheet are summarized in line 620.
Separately disclosed overdue debt for each group of receivables and payables.
If there is an overdue debt lasting more than three months, the amounts for it are reflected in separate lines of section 2 of form No. 5 “Appendix to the balance sheet”.
Let's group and analyze the indicators of the movement of the debt of JSC "Omsk Bacon" for the reporting year (Appendix G). In 2002, short-term accounts receivable decreased by 10.32%. In the reporting year, JSC "Omsky Bacon" failed to achieve repayment of part of the debtors' debt, but, on the contrary, the amount of short-term overdue accounts receivable with a duration of more than 3 months increased by 25.11% by the end of the year.
Rice. 4 - Dynamics of receivables and payables.
A similar situation develops in the settlements of JSC "Omsk Bacon" with creditors. At the end of the year, the amount of short-term accounts payable increased by 55.57% compared to the beginning of the year, including 89.31% overdue. Untimely repayment of receivables led to violation of the terms of repayment of obligations to creditors. Although, as evidenced by these structures of receivables and payables, the balance sheet is dominated by the usual debt of buyers and customers.
During the reporting year, the share of accounts payable increased, which Omsk Bacon intends to repay next year, provided that the debts of debtors are repaid in a timely manner during the same year.
In order to analyze debt coverage, section 2 of form No. 5 discloses information on the availability and movement of received and issued (provided) guarantees to ensure the fulfillment of obligations and payments both by the organization itself and from other organizations. The basis for filling in the lines are the amounts of contracts and off-balance sheet accounts. For the amount of received and issued guarantees, entries are made in the column "arising". As the debt is repaid, the data is disclosed in the “repaid” column.
Debt secured by bills is reflected separately (lines 232 and 622). In section 2, it is disclosed from the standpoint of bill circulation, reflecting:
A significant proportion of this type of settlement between counterparty organizations may indicate problems of sufficient cash flow and solvency of the firm.
The main debtors of OJSC "Omsk Bacon" are: LLC "Altayagrokommertsentr", LLC "East-Ref", CJSC "Epak-Service", LLC "Volga-Market", LLC "ZAK", LLC "Ajax-AgroTechCenter", LLC "Conglomerate ”, State Unitary Enterprise “Novosibirsk Food Corporation” and LLC “Factory for the production of broiler meat”.
The main creditors are: VIK-Omsk LLC, Flitons LLC, Karbyshevskoye OJSC, Altair LLC, Stroyline LLC, Omskmetalloopttorg LLC, Agroregiontorg LLC.
2.3.2 Turnover of receivables and payables
The level of solvency and financial stability of the organization depends on the turnover rate of receivables and payables, which characterizes the efficiency of the organization. Analysis of the turnover of receivables and payables allows us to draw conclusions about:
The main purpose of the analysis should be to determine the speed and time of debt turnover and reserves for its acceleration at different stages of the company's business.
The turnover of receivables and payables is characterized by two traditional indicators: turnover in days and turnover ratio. The methodology for calculating these indicators is given (Appendix I). Let's analyze the turnover of receivables and payables in JSC "Omsk Bacon" for 2002 in table 5.
Table 5 - Analysis of the turnover of receivables and payables of JSC "Omsk Bacon".
Name of indicator |
Absolute change |
||
|
The turnover ratio of long-term receivables (K dzd) |
|||
|
Turnover ratio of short-term receivables (Kdzk) |
|||
|
Accounts payable turnover ratio (K kz) |
|||
|
Turnover ratio in days of long-term receivables (O dzd) |
|||
|
Turnover ratio in days of short-term receivables (O dzk) |
|||
|
Turnover ratio in days of accounts payable (O kz) |
Table 5 shows that in 2002, compared with 2001, the number of turnovers increased by 34.74, which indicates an acceleration in the turnover of long-term receivables. This can be judged by the turnover ratio of long-term receivables. The turnover ratio of short-term receivables increased by 3.54 times, which indicates inefficient settlement discipline at JSC "Omsk Bacon". The turnover ratio of accounts payable in 2002 compared to 2001 increased by 7.65 times. This suggests that OJSC "Omsk Bacon" timely extinguishes current obligations to creditors. The turnover ratio in days of long-term and short-term receivables decreased by 6.3% and 71.7%, respectively, which indicates a slow release of cash resources from the turnover process and their use for the acquisition of additional property. The turnover ratio in days of accounts payable in 2002 compared to 2001 decreased by 86.94%. OAO "Omsky Bacon" has a trend towards an increase in the duration of receivables turnover and a decrease in the duration of accounts payable. This indicates a reduction in the organization's financial resources, which may soon lead to significant difficulties with solvency and the possible likelihood of covering its debts to suppliers.
2.3.3 Analysis of solvency and financial stability indicators
The state of settlement and payment discipline in an organization has a significant impact on its solvency and financial stability.
The presence of accounts receivable in the balance sheet and classifying it as the most liquid assets does not guarantee the receipt of funds from debtors. Moreover, receivables may be written off as debts that have expired or other debts that are uncollectible. In the event that the organization has assessed in advance the reality and reliability of the repayment of such debts and reserved amounts for its write-off, these consequences may not affect the rhythm of the company's functioning and its solvency. On the contrary, the unforeseen situation of the possible repayment of receivables, the loss of significant cash in circulation will create serious problems with current solvency and disrupt the production cycle. In addition, this will affect the formation of financial results, reduce the amount net profit and profitability of the organization.
In turn, accounts payable relate to short-term liabilities, and its balances by groups of creditors characterize their pre-emptive right to the property of the organization. This means that at any time creditors can demand repayment of debts. With an unsatisfactory structure of the balance sheet asset, manifested in an increase in the share of doubtful receivables, a situation is possible when the organization will be unable to meet its obligations, which may lead to bankruptcy.
On the other hand, accounts payable can be assessed as a source of short-term attraction of funds. The strategy of the organization in this case should provide for the possibility of their early involvement in circulation in order to rationally invest in the most liquid types of assets that bring the greatest income.
Accounts receivable and accounts payable are involved in the calculation of various indicators: solvency and financial stability ratios. The methodology for calculating these ratios is presented in Appendix K. Based on the indicators of the balance sheet and income statement, we calculate and compare the financial solvency and financial stability ratios at Omsk Bacon OJSC in Table 6.
Table 6 - Analysis of the solvency and financial stability ratios of OJSC "Omsk Bacon"
Name of indicator |
Absolute change |
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|
For the beginning of the year |
At the end of the year |
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|
Partial Coverage Ratio (Kpf) |
|||
|
Total coverage ratio of current liabilities by current assets (To) |
|||
|
Debt ratio to other organizations (K z) |
|||
|
Fiscal system debt ratio (Kf) |
|||
|
Domestic debt ratio (K d) |
|||
The average monthly revenue of JSC "Omsk Bacon" at the beginning of the year amounted to 104466.42 thousand rubles, and at the end of the year - 171378.5 thousand rubles. Line 290 at the beginning of the year 994040 thousand rubles, and at the end of the year - 1710393 thousand rubles. The coverage ratio shows a sufficient degree of security of current accounts payable with funds listed in receivables. One ruble of OAO Omsk Bacon's liabilities accounts for 2.15 rubles of receivables at the beginning of the year. A decrease in this indicator to 1.32 by the end of the year indicates a deterioration in the financial position of the organization. For one ruble of short-term assets, there are only 6.63 rubles of current assets in accordance with the value of the general coverage ratio. By the end of the year, the value of the coefficient decreases by 73.6%, which may cause problems with solvency and debt coverage.
There is a decrease in the indicator of debt to other organizations by 6.25%. This suggests that OJSC "Omsk Bacon" is trying to pay its obligations to creditors-counterparties in a timely manner.
In general, from all of the above, we can conclude that OJSC "Omsk Bacon" has a tendency towards an increase in receivables and a decrease in the duration of accounts payable. This indicates a reduction in the organization's financial resources, which may soon lead to significant difficulties with solvency and the possible likelihood of covering its debts to suppliers.
3.1 Characteristics of the accounting department of JSC "Omsk Bacon"
Rice. 5 - The structure of the central accounting department of JSC "Omsk Bacon"
According to the Law of the Russian Federation on Accounting and Reporting, the responsibility for the organization of accounting at OJSC "Omsk Bacon" lies with the head, who is obliged to create conditions for the correct conduct of accounting. By his order, he appoints the chief accountant - the person responsible for accounting. Chief Accountant reports directly to CEO organizations. He is responsible for the formation of accounting policies, accounting, timely submission of complete and reliable financial statements. The chief accountant ensures the compliance of ongoing business operations with the legislation of the Russian Federation, control over the movement of property and the fulfillment of obligations.
Accounting in JSC "Omsk Bacon" is carried out in accordance with the Regulations on Accounting and Reporting of the Russian Federation and the Chart of Accounts for Accounting for Financial and Economic Activities for its application.
Accounting in the economy is decentralized. In each division of the enterprise, synthetic and analytical accounting is carried out and a production report is compiled. In the central accounting department of OAO "Omsk Bacon" a set of reports for the entire enterprise is produced, the annual balance sheet and all forms of reporting are compiled.
The form of accounting at the enterprise is memorial-order. Accounting is carried out on personal computers using a special accounting program "Integrator".
According to the workflow schedule (Appendix L), the deadlines for submitting production reports are set - on the 15th day of each month. Consolidated working balance monthly on the 17th-18th.
Monthly reports to the tax authorities on value added tax are submitted no later than the 20th. Quarterly reporting on the enterprise is provided no later than the 30th day following the quarter. The annual balance sheet shall be submitted on March 30 of the following year following the reporting one.
In JSC "Omsk Bacon" settlements with suppliers and buyers are carried out by the financial and settlement department. The state employs nine financiers. Their responsibilities include the following functions:
For settlements with suppliers and contractors, account 60 “Settlements with suppliers and contractors” is used, and with buyers and customers - account 62 “Settlements with buyers and customers”. On a monthly basis, the balances at the beginning and end of the reporting month and the turnover for the reporting month are reconciled with the consolidated turnover balance. After the summary for each account, the following is printed: turnover sheet, statement of receivables and payables, analytical accounting card.
The turnover sheet reflects the opening balance, debit and credit turnover, the closing balance for customers for the reporting month (Appendix M).
The statement of receivables contains a list of clients-debtors of OJSC "Omsk Bacon" (Appendix H), and the statement of accounts payable contains a list of customers to whom OJSC "Omsky Bacon" owes.
The analytical accounting card contains the following information: date, name of the operation, correspondence of accounts, amount, service or industry working with the client, incoming balance, debit and credit turnover, outgoing balance (Appendix P).
The turnover sheet, the statement of receivables and payables, the analytical accounting card are signed by the financier in charge of this section.
After the 20th day of the month following the reporting one, Omsk Bacon holds a meeting to collect receivables. It identifies the cause of the formation of this debt and measures to eliminate it.
The financial service must provide a list of debtor clients to the meeting. Set for each debtor the date of occurrence of the debt (current or overdue), the amount of the debt responsible for its occurrence on the basis of documents, and in particular letters for the release of products.
The department of security and safety comes to the aid of the financial and settlement department, which takes all measures to pay off receivables.
In accordance with the Federal Law “On Accounting”, in order to ensure the reliability of accounting data and financial statements, an enterprise conducts an inventory of accounts payable and receivable. To formalize the results of the inventory of settlements with buyers and suppliers, an inventory report (an act of reconciliation of mutual settlements) is filled out (Appendix P).
Two parties (the supplier and the buyer) participate in the reconciliation of mutual settlements, therefore the act is drawn up in two copies. The act is signed by managers and chief accountants, certified by the seals of both parties.
If, as a result of reconciliation of settlements, a disagreement arose between the parties, then an act of disagreement is drawn up (Appendix C). The interested party may submit the documents to the court to resolve the dispute. In addition, the act may be required by the tax authorities when conducting documentary audits.
Suppliers are organizations that supply raw materials, materials and other inventory items, as well as provide various types of services (delivery of electricity, steam, water, gas, etc.) and perform various works (overhaul and current repairs of fixed assets, etc.) .
Production stocks of materials and raw materials at OJSC "Omsk Bacon" are replenished by deliveries by supplying enterprises on the basis of contracts. The contracts provide for the rights, obligations and responsibilities of the parties for the supply of products.
The following types of contracts are drawn up with the suppliers of JSC "Omsk Bacon":
1. Contract of sale.
2. Contract for the exchange of goods. It indicates the subject of the contract, the price and amount of the contract (the contract provides for the supply of goods by one and the other parties for the same amount), the timing and procedure for delivery, the responsibility of the parties. Currently, in the conditions of a shortage of funds from enterprises, they find a way out of this situation by concluding barter deals. In these cases, no settlement documents are issued.
3. Contract for the assignment of a debt claim.
If OJSC "Omsk Bacon" enters into a contract for the supply of materials or raw materials, then they basically provide for their advance payment (Appendix T). In this case, according to the invoice presented by the supplier, funds are transferred by payment order to the supplier's account (Appendix U). The payment order indicates the payer and his bank, the numbers of their bank accounts, the purpose of the payment. After receiving the funds, the supplier ships the products required by Omsk Bacon OJSC and issues an invoice for it (Appendix F) and a waybill (Appendix X). If the freight forwarder receives materials directly from the supplier's warehouse, then he is issued a power of attorney to receive the goods, which indicates the list of materials to be received (Appendix C). According to the waybill and invoice, these materials fall into the warehouse.
Works and services performed by contractors are paid after they are completed using a payment order.
After the installation work of the enterprise, for example, Omskteplomontazh LLC, the work performed was accepted and an act of acceptance of the work performed was drawn up, a certificate of the cost of the work performed is attached to it (Appendix III). Based on the certificate of the cost of work, the contractor issued an invoice.
Some suppliers, such as MPEP "Omskelektro", submit payment requests to OAO "Omsky Bacon" on account of the services provided for the use of electricity. The amount shown in the payment request (Appendix II) is debited from the settlement account of OAO "Omsk Bacon" without acceptance. An invoice and a decrypted statement are attached to the payment request.
Very often, mutual debts are formed between Omsk Bacon OJSC, its suppliers and buyers. Then, by agreement of the enterprises, calculations are made based on the offset of mutual claims. At the same time, a document is drawn up - a certificate of offsetting mutual debts (Appendix E), which indicates the organizations participating in the offset, to whom they owe, for what, the amount of debt. Copies of settlement documents (certificates of work performed, invoices) on mutual debts of all organizations participating in the offset must be attached to the certificate.
The main forms of non-cash settlements of OAO "Omsk Bacon" with its suppliers are settlements by payment orders, payment claims, settlements in the order of offsetting mutual claims.
Settlements with suppliers for the supply of industrial raw materials and services rendered, as well as with contractors for the work performed, are taken into account on the synthetic account 60 “Settlements with suppliers and contractors”. To account 60 "Settlements with suppliers and contractors" the following sub-accounts are opened at JSC "Omsk Bacon":
60-1 - Settlements with suppliers and contractors.
60-2 - Settlements with suppliers of grain, feed and feed additives.
60-3 - Settlements with suppliers of goods for shops.
60-4 - Settlements with builders and contractors.
60-5 - Settlements with foreign companies.
60-6 - Settlements for other services and rent.
Consider the main business transactions in Omsk Bacon OJSC on account 60 “Settlements with suppliers and contractors” in table 7.
Table 7 - Main business transactions on account 60 "settlements with suppliers and contractors"
|
Source documents |
Account correspondence |
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|
The prepayment for the acquired inventory items was transferred to the supplier |
Account, payment order, bank statement, cash order |
||
|
Receipt of material assets from the supplier, prepayment for purchased inventory items |
The act of acceptance of materials, waybill |
||
|
VAT on received material assets |
Invoice |
||
|
Third party services for purchased inventory included in the purchase price: Cost of services without VAT |
Contract, act of acceptance and transfer of work performed |
||
|
VAT on services |
Invoice |
||
|
Paid bills of suppliers and contractors |
Payment order, bank statement, debit cash order |
||
|
Detected price discrepancy, arithmetic errors |
commercial act |
||
|
VAT on incoming material assets is accepted as a set-off for settlements to the budget |
Invoice |
||
|
Certificate of offset of mutual debt |
|||
Analytical accounting on account 60 “Settlements with suppliers and contractors” is kept on analytical accounting cards (Appendix P), by name of suppliers. To check the conformity of the data of analytical and synthetic accounting, entries from the cards are transferred to the turnover sheet (Appendix M). Statements of receivables and payables are printed monthly (Appendix H).
3.3 The procedure for settlements with buyers at JSC "Omsk Bacon"
The sale of products is the final stage of the economic activity of the organization. It is necessary for the receipt of funds in the organization, which allows it to fulfill its obligations to state budget, banks, workers and employees, suppliers, reimburse production costs and is the most important source of profit. Failure to fulfill the implementation plan causes a slowdown in the turnover of working capital, penalties for failure to fulfill contractual obligations to customers, delays payments, and worsens the financial position of the organization.
JSC "Omsk Bacon" sells finished products on the basis of supply contracts, which are concluded, as a rule, for one year, and then extended. The contracts specify: product name, quantity, price, payment procedure, payment details of the supplier and buyer, and, if necessary, other conditions.
The method of accounting for the sale of finished products at JSC "Omsk Bacon" - by shipment.
Buyers make settlements with Omsk Bacon OJSC mainly by prepayment for meat and meat products. Prepayment provides the company with significant advantages over the payer. She guarantees him the receipt of payment even before the shipment of products. In addition, these funds are used by him as an additional source of cash in circulation. But the advantage of prepayment for JSC "Omsk Bacon" turns into negative consequences for the payer. Part of the money is withdrawn from circulation, the payer becomes an unequal participant in the transaction. With the normalization of the market and the stability of money circulation and payments, the need for advance payment disappears.
In rare cases, when settling accounts with buyers, JSC Omsky Bakon uses settlements after the shipment of products, although it makes the participants equal. But this form of settlement increases the risk of non-payment, and the payment may be delayed indefinitely.
According to the supply agreement, the buyer sends a letter to the seller for the release of products (Appendix Yu). In a letter, the leader and Chief Accountant the seller's enterprises must put their resolution on the shipment of products, as well as register as a financier in the financial and accounting department. Based on the letter, as well as the power of attorney from the buyer, the sales department draws up an invoice and a waybill, issued in two copies. The first copy remains with the seller and is the basis for analytical and synthetic accounting, and the second copy is transferred to the buyer.
If the condition of the supply agreement is advance payment, then Omsk Bacon OJSC issues an invoice, upon receipt of which, the buyer transfers the amount due to him by payment order to the supplier's account. Invoices for payment indicate the name and location of the supplier and buyer, their account numbers in the banks serving them, the number of the supply agreement, the type of shipment, the amount of payment. The payment amount includes, in addition to the cost of products at contractual prices, the cost of additionally paid packaging, as well as transportation costs to be reimbursed by buyers. Delivery of meat and meat products is carried out by road and rail. Delivery of products is carried out within 5 days after 100% prepayment.
The main part of the proceeds from the sale of products to the accounts of JSC "Omsky Bacon" comes from JSC "Meat Processing Plant" Omsky "". Since the volumes of meat and meat products he buys are very large and the payment for them is high, he cannot pay for the products on time. Therefore, the meat processing plant is calculated as follows: part of the funds is received monthly in the form of prepayment by payment orders, and the other part is paid by the enterprise with products of its own origin.
Some organizations pay for the products supplied to them by transferring bills of exchange - simple and transferable. (Appendix I)
The settlement procedure of JSC "Omsk Bacon" and JSC "Meat Processing Plant "Omsk"" is as follows:
1. According to the terms of the agreement, JSC Meat Processing Plant Omsky monthly transfers part of the funds to the account of JSC Omsky Bacon in the order of planned payments.
2. After the receipt of funds, OAO "Omsk Bacon" monthly ships pork meat in accordance with the contract.
3. OAO "Meat-packing plant "Omsky" pays the rest of the amount with products of its own origin and takes over the settlements with suppliers of OAO "Omsky bacon". This is done by drawing up between Omsk Bacon OJSC and its supplier a debt assignment assignment agreement, in which the right to claim debt from the debtor Omsky Meat Processing Plant OJSC is assigned to its supplier. JSC "Omsk Bacon" undertakes to notify the debtor within three days of the assignment of the debt claim. He writes out to the director of OAO Meat Processing Plant Omsky a notice or notice of the assignment of the debt claim (Appendix).
Settlements with buyers and customers at OJSC "Omsk Bacon" are accounted for on synthetic account 62 "Settlements with buyers and customers". The following sub-accounts are opened for account 62:
62-1 - Settlements with other buyers and customers.
62-2 - Settlements with meat processing plants and nonresident clients.
62-3 - Settlements with stores.
62-4 - Settlements for public services and rent.
Consider business transactions in Omsk Bacon OJSC on account 62 “Settlements with buyers and customers” in table 8.
Table 8 - Main business transactions on account 62 "Settlements with buyers and customers"
|
Source documents |
Account correspondence |
||
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Reflects the buyer's debt for shipped products (works, services) |
Contract, bill of lading, bill of lading |
||
|
Debt repaid by buyers and customers |
Bank statement, receipt cash order |
||
|
Mutual debts between suppliers and buyers |
Certificate of offsetting mutual claims |
||
Analytical accounting on account 62 “Settlements with buyers and customers” is carried out for each invoice presented to buyers (customers), and settlements are planned payments for each buyer and customer. To check the conformity of the data of analytical and synthetic accounting, the entries are transferred to the turnover sheet. Print out statements of receivables and payables.
3.4 Accounting for overdue receivables
The Financial and Settlement Department of OAO "Omsk Bacon" systematically monitors compliance with settlement discipline, seeking timely collection of receivables and repayment of amounts due to creditors. However, the company has overdue receivables and payables.
In accordance with paragraph 70 of the Regulation on accounting in the Russian Federation, Art. 266 of the Tax Code of the Russian Federation, accounts receivable are recognized as doubtful, the obligation for which is not secured by a pledge, guarantee, bank guarantee and retention of the debtor's property, as well as in other ways provided by law or the contract. The written-off amount of receivables is included in non-operating expenses:
Debit 91-2 Credit 62 - in the amount of 794 thousand rubles.
According to the instructions for using the Chart of Accounts, account 007 “Debts of insolvent debtors written off at a loss” is intended to summarize information on the state of receivables written off at a loss due to the insolvency of debtors. Upon receipt from the debtor of the amount of previously written off debt, its amount will increase non-operating income of the organization. At the same time, an entry will be made on the credit of the off-balance account 007 for the specified amount.
When compiling reports, the organization's profit for tax purposes is adjusted for the amount of written-off receivables, the limitation period for which has not yet expired.
The receipt from the debtor in repayment of violated obligations of funds are included in non-operating income:
Debit 50, 51 Credit 91-1
At the same time, an entry is made to write off receivables from an off-balance sheet account:
The amount of receivables written off as a result of debt forgiveness (donation), on the basis of paragraph 12 of PBU 10/99, may be reflected as non-operating expenses. However, the loss received in this case in accordance with Art. 270 of the Tax Code of the Russian Federation are not taken into account for tax purposes. When calculating corporate income tax, the profit must be adjusted for the amount of the resulting loss from the write-off of receivables.
In accordance with paragraph 2 of Art. 266 of the Tax Code of the Russian Federation, a bad debt is one for which the established limitation period has expired, as well as a debt for which, in accordance with civil law, the obligation has been terminated due to the impossibility of fulfilling it.
In accordance with clause 77 of the Accounting and Accounting Regulations, uncollectible receivables are debts that are uncollectible. In other words, accounts receivable with an overdue limitation period that can be claimed in court are considered bad debts.
Documentary evidence of the inability of the debtor to repay the debt to the organization can be: an extract from the Unified state register or a certificate of the tax authority on the liquidation of the debtor, a notice to the liquidation commission (bankruptcy manager) or a court decision to refuse to satisfy the claims for the collection of the relevant debt due to insufficient property of the debtor's liquidation organization, an act bailiff about the impossibility of collecting the debt from the debtor. If such documents are available, the debt should be written off from the balance sheet of OAO "Omsky Bacon" as uncollectible.
According to paragraph 12 of PBU 10/99 and paragraph 2 of Article 265 of Chapter 25 of the Tax Code of the Russian Federation, the amount of receivables for which the limitation period has expired is recognized as non-operating expenses. Accounting for such debt is kept on account 91-2:
Debit 91-2 Credit 62.
Paragraph 77 of the Regulation on Accounting and Accounting in the Russian Federation establishes that debts that are uncollectible are written off for each obligation on the basis of inventory data, written justification and an order (instruction) of the head of the organization. They are included in the financial results, respectively:
Debit 99 Credit 91-2
Writing off a debt at a loss due to the insolvency of the debtor is not a cancellation of the debt. This debt must be reflected on the balance sheet within five years from the date of write-off to monitor the possibility of its collection in the event of a change in the debtor's property status.
For the purposes of taxation of profits, losses from writing off debts that are uncollectible are taken into account on the basis of clause 21 of article 265 of the Tax Code of the Russian Federation, i.e. included in non-operating expenses, in the amount in which this debt was reflected in the accounting of the organization.
Accounts receivable not repaid as a result of bankruptcy proceedings upon liquidation of the debtor enterprise may be recognized as unrealistic for collection before the expiration of the limitation period. The basis for writing off accounts receivable that is unrealistic to collect is the ruling of the arbitration court on the completion of bankruptcy proceedings.
Debts that are unrealistic to collect, in accordance with Article 265, Chapter 25 of the Tax Code of the Russian Federation, are included in non-operating expenses, therefore they must be taken into account for profit tax purposes. Since the debtor is liquidated, then the creditor, as a rule, does not need to account for the written-off receivables off the balance sheet.
The need to reflect the written-off receivables of the buyer off the balance sheet, declared bankrupt, occurs when arbitration court introduced the procedure of external control.
4. WAYS TO IMPROVE SETTLEMENTS WITH SUPPLIERS AND BUYERS AT OAO OMSK BACON
To improve settlements with suppliers and buyers, the Omsk Bacon open joint-stock company can be offered the following.
Important promising direction improvement of settlements with suppliers and buyers at OJSC "Omsk Bacon" is the improvement of the quality system at the enterprise. When concluding contracts with suppliers and buyers, the quality of the goods is negotiated. The quality of the goods must comply with the requirements of GOST, otherwise the buyer has the right to refuse to pay and accept the goods and is not responsible for refusing to accept the goods. For example, LLC "Mayonnaise Plant" ships products to JSC "Omsk Bacon" - mayonnaise. Due to the fact that the products did not meet the quality stipulated in the terms of the contract, Omsk Bacon OJSC returned the products.
The production of meat and dairy products that meet the requirements of the consumer, quality and national standards, carried out through the use of high-quality own raw materials, modern equipment and technology, based on the introduction and improvement of the quality system, ensuring the quality of branded trade services is a strategic direction of the leader and largest enterprise Russia JSC "Omsk Bacon".
In the area of quality, JSC "Omsk Bacon" sets the following goals:
Achievement of these goals can be achieved if the following conditions are met:
Another promising direction for improving accounting in an enterprise is the expansion of computer accounting, the organization of automated workplaces for each accountant, each accounting section, which allows creating a new technology for processing accounting information. Computer accounting is now especially of great importance, as great changes are taking place in accounting, control, auditing and analysis.
Accounting is carried out according to the special accounting program "Integrator". The program has a number of disadvantages: a lot of time is spent on processing information and printing it, the specifics of the enterprise are not taken into account, there is no sectoral delimitation of debts, there is no automatic selection of debts by the date of occurrence, narrow analytical accounting.
JSC "Omsk Bacon" has concluded an agreement with the Moscow company LLC "France Informatics and Technology" for the development and implementation of the corporate system Navision Attain. Programmers carefully study the work of accountants in each area through a survey.
The objectives of the corporate information system implementation project are:
The third direction of improving settlements is the opening of additional sub-accounts on account 60 "Settlements with suppliers and contractors" and 62 "Settlements with buyers and customers" for settlements of JSC "Omsk Bacon" with subsidiaries:
62-11 - Settlements with IP Khabibullina V.V. She sells meat products.
60-11 - Settlements with OAO Luzinsky Feed Mill. The compound feed plant supplies Omsk Bacon OJSC with compound feeds balanced for all nutrients.
60-12 - Settlements with ZAO Sibirskaya Poultry Farm. The poultry farm supplies eggs, poultry meat.
60-13 - Settlements with OPH "Novouralskoye". Omsk Bacon OJSC leases land and livestock from this farm.
60-14 - Settlements with OAO Bolsherechensky Butter and Cheese Plant. Butter and Cheese Plant ships butter, cheese, dairy products.
Settlements with JSC "Meat Processing Plant" Omsk "" are currently carried out on account 62-2.
Allocation of subsidiaries to separate sub-accounts will contribute to more efficient, transparent tracking of receivables. Information will be more accessible, complete, objective.
The next direction in improving the calculations is a clear organization of relationships: the legal service, the finance department, the logistics department, the financial and settlement department, the material group, the tax assessment department.
The consequences of disorganized work may be the following:
In order to avoid such situations, a clear regulation of the relationship between divisions and departments within the enterprise is needed. To do this, it is necessary to register all the rights and obligations of each structural unit, to identify contacts. For a clear regulation, issue the necessary orders for the work.
Also, OJSC "Omsk Bacon" can sufficiently protect its material interests by taking a serious approach to drafting the text of the contract, including the necessary conditions regarding liability, as well as carefully selecting and providing evidence to the judicial authorities confirming causality between damages and non-fulfillment or improper fulfillment by the defendant of his contractual obligations. When concluding contracts, one should take into account the requirements of Decree of the President of the Russian Federation of December 20, 1994 No. 2204, according to which a mandatory condition for contracts for the supply of goods (works, services) is the deadline for fulfilling obligations, which cannot exceed three months from the date of actual receipt of goods (works, services) by the buyer, and compliance with the form of contracts established by the Civil Code of the Russian Federation.
After analyzing the status of settlements with suppliers and buyers at Omsk Bacon OJSC, the following ways to improve settlements with suppliers and buyers can be proposed:
5. ENVIRONMENTAL PROTECTION.
Environmental pollution is currently one of the global problems our country.
The sources of this pollution are many and varied. The main ones are considered to be industrial dust, emissions into the atmosphere of a huge amount of gases and toxic compounds of lead, arsenic, antimony and other metals, car exhaust gases, untreated effluents from chemical and pulp and paper industries, etc. However, agricultural enterprises are serious environmental pollution.
So, with careless storage and improper use of fertilizer by them, pollution of the surrounding water bodies occurs. From livestock complexes, air saturated with ammonia, hydrogen sulfide, methane, and harmful microorganisms can spread over a long distance. Sources of soil pollution are machine parts abandoned in the fields, decommissioned equipment. Under the influence of rain and snow, these metal parts corrode, and thus iron and other metals get into the soil. In addition, the soil is often polluted with diesel fuel, gasoline, machine oil. The use of pesticides in agricultural enterprises that do not have a selective effect can cause the death of all insects, both harmful and beneficial. Many of these substances are dangerous not only for animals, but also for humans. Therefore, it is very important that every agricultural enterprise pays more attention to the problems of environmental pollution.
The main problem of OJSC "Omsk Bacon" as a livestock enterprise is the cleaning, processing and disposal of manure.
Manure removal in pig breeding is one of the labor-intensive operations. At the pig farms of OJSC "Omsk Bacon", manure getting into the sewer under water pressure, through the pipes gets to the treatment facilities.
Manure is a very valuable organic fertilizer, but it is unacceptable to use it immediately for fertilizing fodder crops, pastures and hayfields, as it will lead to the spread of pathogenic bacteria in the area. Therefore, at the treatment plant, manure is cleaned and disinfected. Then comes the filtration and separation of liquid effluents into thick and liquid fractions, for which settling in primary settling tanks is used. Then the thick fraction with a moisture content of 75% is stored in special areas, where it burns out under the action of the sun and air. As a result of biochemical processes in wet manure, the temperature rises to 70 ° C, from which all eggs of pathogenic bacteria die. The liquid fraction is taken out to the fields, and also sprayed from rain installations.
For environmental pollution JSC "Omsk Bacon" makes 10% deductions to Federal budget, 81% - to the regional environmental fund and 9% - to the Regional Committee for Nature Protection of the Federal Environmental Fund.
Payments are made for emissions of harmful substances into the atmospheric air from stationary sources of pollution for established limits, for emissions of harmful substances into the atmospheric air from mobile sources of pollution for maximum allowable emissions, for emissions of substances into water bodies for maximum allowable emissions, for disposal of waste within the limits of permissible limits.
JSC "Omsk Bacon" is the called leader of the pig-breeding complexes existing in Russia and the largest producer of pork meat.
1. For last years the organization makes a profit and there is an increase in profitability for the period 2000 - 2002. from 24.17% to 36.79%. Pig breeding is considered to be a highly profitable industry at OAO "Omsk Bacon", while plant growing in 2002 is unprofitable.
2. The accounting department of OJSC "Omsk Bacon" is represented by the central accounting department and the accounting departments of subdivisions that report to the chief accountant. The form of accounting is memorial-order. Accounting is carried out on computers using a special accounting program "Integrator".
3. In OJSC "Omsk Bacon" settlements with suppliers and contractors, buyers and customers are carried out by the financial and settlement department, which controls the status of settlements for each client, conducts an inventory of settlements, and identifies the cause of receivables and payables.
4. In 2002, a significant share (219,075 thousand rubles) in the balance sheet belongs to accounts receivable from buyers and customers. Untimely repayment of receivables led to a violation of the terms of repayment of obligations to creditors, which indicates a slight increase in accounts payable.
5. OAO "Omsky Bacon" has a tendency to increase accounts receivable and decrease accounts payable. The organization tries to pay its obligations on time. This indicates a reduction in the financial resources of the organization, which may soon lead to significant difficulties with solvency.
6. Based on the foregoing, Omsk Bacon OJSC can offer the following ways to improve settlements with suppliers and buyers: improve the quality system, improve computer accounting, open 60 “Settlements with suppliers and contractors” and 62 “Settlements with buyers and customers” accounts additional sub-accounts for settlements with subsidiaries, to clearly organize the interaction of services.
7. An important promising direction for improving settlements with suppliers and buyers at JSC "Omsk Bacon" is the improvement of the quality system at the enterprise. When concluding contracts with suppliers and buyers, the quality of the goods is negotiated. The quality of the goods must comply with the requirements of GOST, otherwise the buyer has the right to refuse to pay and accept the goods and is not responsible for refusing to accept the goods.
8. The use of the Navision Attain corporate information system will allow creating a single information space for the Omsky Bacon group of enterprises, obtaining more prompt and reliable information on receivables and payables for each client.
9. Opening on account 60 “Settlements with suppliers and contractors” and account 62 “Settlements with buyers and customers” of additional sub-accounts for settlements of JSC “Omsk Bacon” with subsidiaries: OPH Novouralskoye, CJSC “Sibirskaya Poultry Farm”, JSC “Luzinsky Feed Mill ”, OJSC Bolsherechensky Butter and Cheese Plant. This will contribute to more efficient, transparent tracking of receivables.
10. A clear organization of relationships between the services of OJSC "Omsk Bacon" will allow you to quickly receive reliable information about the status of settlements for each client.
Students, graduate students, young scientists who use the knowledge base in their studies and work will be very grateful to you.
Ministry of General and Vocational Education of the Russian Federation
St. Petersburg State University of Service and Economics
Institute regional economy and management
Department of "Accounting, analysis and audit"
COURSE WORK
discipline "Accounting (financial) accounting"
on the topic "Accounting for settlements with suppliers and buyers"
Students Lvova I.I.
Specialist. 080109. 65 course 3
group 0605
scientific adviser
Vanyushkina M. N.
St. Petersburg
Oheading
Introduction
Chapter 1. Methodological basis for accounting for settlements with suppliers and buyers
1.1 Legal regulation of settlements in the organization
1.2 The concept and types of receivables and payables
1.3 Forms of settlements between organizations
1.4 Documentation of settlements with suppliers and buyers
Chapter 2. Organization of accounting for settlements with suppliers and buyers
2.1 Synthetic and analytical accounting of settlements with suppliers and contractors
2.2 Synthetic and analytical accounting of settlements with buyers and customers
2.3 Accounting for advances and offsets
Chapter 3. Features of accounting for settlements with suppliers and buyers
3.1 Inventory of settlements with suppliers and buyers
3.2 Provisions for doubtful debts
3.3 Write-off of accounts receivable
3.4 Write-off of accounts payable
Conclusion
List of used literature
ATconducting
The activity of any enterprise (organization) is impossible without the consumption of works and services of third-party organizations, without the purchase of goods and, therefore, without payments for these services. Therefore, this course work is devoted to the study of accounting for settlements with suppliers and buyers.
The subject of this term paper is relevant in our time, since all people can be participants in these relationships that arise between suppliers and buyers. It affects the interests of the entire population of Russia.
The purpose of writing a term paper is to study settlements with suppliers and buyers. In connection with this goal, there are a number of tasks that need to be answered in the research process.
Objectives of the course work:
give the concept of receivables and payables;
trace the normative regulation of settlements and determine the forms of settlements;
analyze the accounting of settlements with suppliers and contractors, buyers and customers;
describe the rules for creating and using a reserve for doubtful debts;
talk about inventory calculations;
The object of study of this work is accounts receivable and accounts payable.
The subject of the study will be settlements with suppliers and contractors, buyers and customers, participants in these relationships, obligations arising between them and much more.
The theoretical basis for writing this term paper was the work of domestic authors, professors in the field of accounting, such as: Astakhov V.P., Gushchina I.E., Kondakov N.P., Kulikova L.I., Safronova N.G. and etc.
Glava 1 . Methodological basis for accounting for settlements with suppliers and buyers.
1 . 1 Legal regulation of settlements in the organization
accounting settlement buyer customer
Accounting in the Russian Federation is regulated by regulations. Legislative acts regulating settlements include: the Civil Code of the Russian Federation and the Federal Law on Accounting.
The Civil Code of the Russian Federation regulates legal relations arising in the course of economic or other activities based on the right of ownership, contractual, property and other obligations of a participant in legal relations. In particular, it regulates property rights, the conclusion of transactions and contracts, the emergence of obligations, their fulfillment, etc.
Under the supply agreement, the supplier-seller engaged in entrepreneurial activity undertakes to transfer, within the stipulated time period or terms, the goods produced or purchased by him to the buyer for use in business activities or for other purposes not related to personal, family, household and other similar use (Article 506 Civil Code of the Russian Federation).
In accordance with Article 516 of the Civil Code of the Russian Federation, payments are made for the supplied goods: the buyer pays for the supplied goods in compliance with the procedure and form of payment stipulated by the supply agreement. If the procedure and form of settlements are not determined by agreement of the parties, then settlements are carried out by payment orders. If the supply contract provides that payment for the goods is made by the recipient (payer) and the latter unjustifiably refused to pay, or failed to pay for the goods within the period established by the contract, the supplier has the right to demand payment for the delivered goods from the buyer. In the event that the supply contract provides for the delivery of goods in separate parts included in the set, payment for the goods by the buyer is made after the shipment (selection) of the last part included in the set, unless otherwise provided by the contract.
The Civil Code also regulates: delivery periods, order, acceptance of goods by the buyer and much more.
Federal Law “On Accounting” No. 129-FZ of 1996 regulates general provisions and requirements for accounting: objects, tasks, content of primary documentation, accounting policy, inventory, documents storage procedure, etc.
The government also adopts resolutions on the most important issues, specifying certain provisions of the law on accounting.
One of these resolutions is the Regulation on accounting and financial reporting in the Russian Federation, approved by Order of the Ministry of Finance of Russia dated July 29, 1998 N 34n (as amended). This provision was developed on the basis of the Federal Law “On accounting”determines the procedure for maintaining accounting records and compiling financial statements in general and, in terms of settlements with debtors and creditors, gives rules for assessing property for the preparation of financial statements.
Provisions for accounting“Income of the organization” (PBU 9/99), approved by the Order of the Ministry of Finance of Russia dated May 6, 1999 No. 32n and “Expenses of the organization”, approved by Order of the Ministry of Finance of Russia dated May 6, 1999 No. 33n contain some information about receivables and payables. These Regulations establish that receivables attributable to financial results are included in other expenses, still unclaimed debts for which the limitation period has expired, as well as receivables that are not really recoverable should be included in the expenses of the organization in the amount of which the debt was reflected in the accounting records. Moreover, overdue debt is written off separately for each obligation.
In accordance with PBU 9/99 (clause 6. 2), when selling products (works, services) on the terms of a commercial loan provided in the form of a deferral and installment payment, the proceeds are accepted for accounting in the full amount of receivables.
One more normative documents associated with settlements in the organization is the Chart of Accounts for the financial and economic activities of the organization with the Instructions for its application, approved by Order of the Ministry of Finance of Russia dated October 31, 2000 N 94n.
The chart of accounts in section 6 "Settlements" contains accounts designed to summarize information about all types of settlements of the organization with various legal entities and individuals, as well as on-farm settlements. There are several accounts for this: 60 “Settlements with suppliers and contractors”, 62 “Settlements with buyers and customers”, 63 “Reserves for doubtful debts”.
Guidelines for the inventory of property and financial obligations- Order of the Ministry of Finance of the Russian Federation dated June 13, 1995 No. 49 contains information on the inventory of settlements.
The album of unified forms of primary accounting documentation was developed by the State Statistics Committee of Russia on the basis of Decree of the Government of the Russian Federation of July 8, 1997 N 835. The forms of primary accounting documentation of this album were approved by the Resolution of the State Statistics Committee of Russia of August 9, 1999. N 66. The use of unified forms of primary accounting documentation is regulated by the “Regulations on Accounting and Reporting in the Russian Federation”, approved by the Ministry of Finance of the Russian Federation of July 29, 1998 N 34n.
Also, the relations that arise between suppliers and contractors, buyers and customers are regulated by Decree of the President of the Russian Federation dated 19.10.93 No. 1662 “On improving settlements in the economy and increasing responsibility for their timely conduct” and others.
1 . 2 The concept and types of receivables and payables
Accounts receivable is understood as the debt of other organizations, employees and individuals before this organization (debt of buyers for the purchased products, accountable persons for the sums of money issued to them under the report, etc.). And organizations and persons who owe this organization are called debtors.
Also, to the concept of receivables, you can add what is an element of working capital, the amount of debt owed to the organization from legal entities or individuals. An increase in receivables means a diversion of funds from circulation.
Accounts receivable can be classified according to various criteria:
For reasons of formation, receivables are divided into justified and unjustified. Accounts receivable, the repayment period of which has not yet come or is less than one month, and which is associated with the normal terms of the document flow, is referred to as justified; to unjustified - overdue debts, as well as debts associated with errors in the execution of settlement documents, in violation of the terms of business contracts, etc. There is also uncollectible receivables - these are bills that buyers have not paid. Bad debts are written off as losses after the statute of limitations expires;
According to the payment term, it is classified into deferred (the deadline for fulfilling obligations for which it has not yet come) and overdue (the deadline for fulfilling obligations for which has already come);
According to the balance sheet items, receivables are divided into the following types: buyers and customers; bills receivable; debt of subsidiaries and dependent companies; advances issued; other debtors.
According to the terms of formation, receivables are divided into two groups: short-term - debt, payments on which are expected within 12 months after the reporting date and long-term - debts, payments on which are expected more than 12 months after the reporting date.
Accounts payable is the organization's debt to other organizations, employees and persons who are called creditors.
As a legal category, accounts payable is a special part of the organization's property, which is the subject of legal obligations between the organization and its creditors. The organization owns and uses accounts payable, but it is obliged to return or pay this part of the property to creditors who have the right to claim it. This part of the property is the organization's debts, other people's property, other people's funds owned by the debtor organization.
Creditors whose debt arose in connection with the purchase of material assets from them are called suppliers. Debts on accrued wages to employees of the organization, on the amounts of accrued payments to the budget, off-budget funds, social funds and other similar accruals are called distribution obligations.
Since accounts payable is one of the sources of funds, it is shown in the liabilities side of the balance sheet. Accounting for accounts payable is carried out for each creditor separately, and in generalizing indicators they reflect the total amount of accounts payable.
According to the current rules, in the explanatory notes to the balance sheet and the statement of financial results, among other additional data indicate the availability of certain types of accounts payable at the beginning and end of the reporting period. Accounts payable includes indicators for the following types: suppliers and contractors; bills payable; advances received; other creditors.
1 . 3 Forms of settlements between organizations
In accordance with Art. 861 part 2 of the Civil Code of the Russian Federation, settlements with the participation of citizens, not related to their entrepreneurial activities, can be made in cash (Article 140) without limiting the amount or by bank transfer. Settlements between legal entities, as well as settlements with the participation of citizens related to their entrepreneurial activities, are made in a cashless manner.
Buyers and suppliers in settlements between themselves can use the following forms of non-cash payments: payment order, letters of credit, checks, collection.
In settlements between them, banks do not interfere in their contractual relations.
Settlement documents in the implementation of these forms of payment are: payment order, letters of credit, checks, payment request, collection order.
For execution, these documents are applied by the bank, regardless of the amount and in the number of copies required for all participants in the settlements. The first copy of the settlement document must be signed, as a rule, by the head, chief accountant, i.e. the first two persons entitled to sign such documents. It is allowed to have one entry in the case when the head of the organization keeps records personally.
At non-cash form settlements, payments between participants in current liabilities are made by submitting a payment request to the bank, depending on who owns the initiative to repay the debt.
A payment order is issued when the initiative for payment comes from the payer if there are funds on his current account. A payment order is issued for such transactions as payments to the budget, extra-budgetary funds, transfer of wages of individual employees to Sberbank accounts, repayment of preliminary and subsequent payments for goods and materials, work performed and services rendered. The deadline for submitting a payment order to the bank is no later than 10 days from the date of issue.
The Bank accepts a payment order for payment regardless of the availability of funds in the payer's accounts. If there is a file cabinet No. 2, partial payment of payment orders is allowed as soon as funds are received. In such cases, the bank additionally uses a payment order (f. No. 0401066) as a settlement document, and on the front side of the partially paid payment order in the upper right corner, the mark “partial payment” is made. On the reverse side of this payment order, the serial number and date of the payment order, the amount of the balance, certified by a bank employee, are indicated.
Settlements by payment orders:
shipment of goods and materials; 2, 3 - transfer of a payment order; 4- statement of write-off of the amount; 5- statement on crediting the amount; 6- operations for transferring the amount
Settlements under letters of credit are a less common form of payment and are used, as a rule, to guarantee payment to suppliers of their supplies.
The letter of credit form of payment is a conditional monetary obligation accepted by the bank to fulfill the payer's order to pay off his debt to a particular supplier. The latter must submit to the bank the necessary documents confirming the grounds for performing this operation.
Covered (deposited) letters of credit are opened at the issuer's bank at the expense of the supplier's funds or a bank loan in the name of a particular supplier.
Therefore, letters of credit are often called nominal. They are transferred by the issuing bank to the execution bank at the location of the supplier. The executing bank transfers the funds of the letter of credit in full or in part to the account of the supplier, subject to the fulfillment by the latter of obligations in accordance with the terms of the agreement with the payer. Confirmation of these obligations is the provision by the supplier to the executing bank required documents(TTN, certificate, etc.)
Uncovered (guaranteed) letters of credit provide for the debiting by the executing bank, to which the issuing bank has been granted such a right, of funds from the correspondent account leading with it of the amount within the limits of the issued letter of credit. All conditions governing the procedure for writing off funds from the correspondent account of the issuing bank under a guaranteed letter of credit are established in an agreement between banks.
Revocable letters of credit basically mean a possible withdrawal by the payer, which may be the result of the supplier not fulfilling his obligations within the agreed time frame or not in full. In the latter case, upon the written order of the payer, the issuing bank makes a partial payment, and the remaining amount of the letter of credit is subject to return to the payer's account or is directed to partial repayment of the loan. In all such cases, the consent of the supplier to conduct such operations with a letter of credit is not required. It is obligatory only when opening a non-failure letter of credit.
A confirmed letter of credit provides for an irrevocable letter of credit by the nominated bank at the request of the issuing bank.
The conditions for the use of a letter of credit form of payment allow for prior acceptance by an authorized person of the payer of the invoices issued by the supplier, who performs his duties at the location of the latter.
Closing of the letter of credit is carried out by the executing bank in the presence of one of the following conditions: upon expiration of the term of the letter of credit, regardless of the amount of its presence; ahead of schedule at the request of the recipient of funds to refuse further use of the letter of credit, if this is stipulated in the agreement between him and the payer; by order of the payer on the full and partial withdrawal of the letter of credit.
Letter of credit form of payment:
1 - application for a letter of credit; 2 - depositing funds; 3 - notice of a letter of credit; 4 - shipment of goods and materials; 5 - shipping documents; 6 - crediting funds to the supplier's account
Unused amounts of a letter of credit upon expiration of their validity or in other cases are directed to the restoration of funds or partial repayment of obligations to the accounts from which they were taken.
Payment request - a settlement document, providing that the initiative to pay off the payment in this case comes from the supplier. The document is issued in 3 copies and together with the shipping documents at the register is sent to the buyer's bank. The latter retains the shipping documents and places them on card No. 1. Payment requests are sent to the payer for acceptance, i.e., consent to payment. If the payer agrees to pay, he certifies all copies of payment requests with the signatures of persons authorized to manage the account and with a seal and returns to the bank.
The first copy serves as the basis for debiting funds from the payer's current account and is then placed in the documents of the bank's day. The second one is sent to the bank serving the supplier, the third one is returned to the payer together with the shipping documents as a receipt for receiving and making payment.
When a specific payment operation is performed by two banks - the supplier and the payer, the payment request is issued in 4 copies.
The general scheme of settlements for payment requests is presented:
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Figure 3 - Calculations by payment claims:
1- shipment of goods and materials; 2 - shipping documents; 3 - a payment order filled in for the accepted amount; 4 - transfer of funds; 5 - an extract from the current account on the write-off of the amount; 6 - statement from the current account on enrollment
Presentation for collection of payment requests, as well as collection orders, in case of insufficient funds in the payer's account, are paid as funds are received in the order prescribed by current legislation.
The payer has the right to refuse to accept the claims against him for the full or partial amount.
The grounds for a complete waiver of the payment amount are as follows: products, work performed and services rendered were not actually ordered; there is an early fulfillment of the obligations presented without his consent; the amount of liabilities presented is calculated at prices not agreed with the buyer; the delivery of low-quality products is documented, which excludes its use for its intended purpose, etc.
Collection orders - they usually issue tax orders if the client does not pay mandatory contributions. By decision tax authorities, judicial authorities, on the basis of a collection order, the bank debits funds from the client's account. This form of settlement is a banking operation through which the supplier bank (issuing bank) at the expense of the client, on the basis of settlement documents, performs actions to receive payment from the payer. Settlements for collection are made on the basis of payment requests, the payment of which can be made at the order of the payer (with acceptance) or without his order (without acceptance), as well as on the basis of a collection order, the payment of which is made without the order of the payer (in an indisputable manner)
A check is a monetary document that gives the bank the right to write off funds from the account of the issuer of the check to the account of the bearer of the check.
When calculating by checks, only a bank acts as a payer, in which the drawer - the person who issued the check, has the means to instruct the bank to make, on his behalf, the payment of the amount indicated in it to the drawer, i.e., the creditor. Mandatory details of the check, giving it legal force, are: the name in the text of the document of the word "check"; a clearly defined instruction to the payer to pay a certain amount of money; name of the payer and an indication of the account from which the payment should be made; indication of the payment currency; indication of the date and place of drawing up the check; signature of the person who issued the check - the drawer. The form of the check with the given details is approved by the Central Bank of the Russian Federation. When paying an endorsed check, the payer is obliged to verify the correctness of the endorsements (transfer data), but not the signatures of the endorsers. It is thus recognized that a check endorsement places the responsibility for paying the check on the endorser.
The person who paid the check has the right to demand that the check be handed over to him with a receipt for payment.
A guarantee of payment (aval) on a check in full and in part is given by any person, except for the payer, by putting on the face of the check or on an additional sheet the inscription "count as aval" indicating by whom and for whom it was given. If there is no such inscription on the check, it is considered that it was given for the issuer of the check.
A denial of a check must be satisfied in one of the following three ways:
Notary in the form of a protest or drawing up an act;
An indication on the check of the payer's mark about the refusal to pay;
An indication on the check of the date of the collecting bank and a note that the check was promptly issued and not paid.
The general scheme of payments using checks is given:
Payments by checks:
1- application for a checkbook; 2- payment order for depositing funds; 3- depositing funds; 4- issuance of a checkbook; 5- shipment of goods and materials; 6- issuance of a check; 7- register of checks for payment; 8- request for payment; 9- transfer of funds
1 . 4 Documentation of settlements with suppliers and buyers
To account for settlements with suppliers and contractors, the following documents are used (the documents are given on the example of Avtostyle LLC):
contract of sale;
waybill issued upon shipment of goods; on its basis, the posting (registration) of inventory items is carried out, it contains their main characteristics (Appendix No. 1);
consignment note (designed to account for the movement of inventory items and payments for their transportation by road, unified form TTN No. 1-T, approved by the Decree of the State Statistics Committee of Russia dated November 28, 1997 No. 78, consists of 2 sections - commodity and transport The first is filled in by the sender or recipient, and the second - by the organization delivering).
invoice - a document issued by the supplier prior to the delivery of inventory items or by the contractor to the customer; is a notification for what and in what amount payment must be made (Appendix No. 2);
invoice - a document issued by the supplier for the correct calculation and payment of value added tax (Appendix No. 3);
a power of attorney is used to formalize the right of an individual to act as a proxy for receiving material values;
act of acceptance of materials - a document drawn up upon receipt of material assets, if a shortage is detected or they do not meet the required quality parameters; is the basis for filing claims against the supplier;
commercial act (drawn up if the shortage occurred along the way).
An invoice is a document that serves as the basis for accepting the tax amounts presented for deduction or reimbursement. It must be prepared in accordance with the requirements tax code of the Russian Federation (clause 5, article 169, chapter 21) and Decree of the Government of the Russian Federation dated 02.12.2000 No. 914 “On approval of the rules for maintaining registers of received and issued invoices, purchase books and sales books when calculating value added”.
It contains required details: serial number and date of issue, name, address, TIN of the taxpayer and buyer, name and address of the consignor and consignee, number of the payment and settlement document, name of the goods supplied, description of the work performed and services rendered, the number of goods (works, services), based on the units of measurement accepted for it, the price per unit of measurement under the contract, excluding tax, the cost of goods, property rights for the entire quantity of goods supplied under the invoice, property rights transferred without tax, the amount of excises on excisable goods, the tax rate, the amount of tax presented by the buyer of goods, property rights, determined based on the applicable tax rates, the cost of the total number of goods supplied on the invoice, transferred property rights, taking into account the amount of tax, the country of origin of the goods, the customs declaration.
The supplier organization issues an invoice for the cost of goods, determined on the basis of the price, taking into account transportation costs.
According to Art. 169 of the Tax Code of the Russian Federation, the invoice is signed by the head and chief accountant of the organization, or other authorized persons.
The primary documents for accounting for settlements with buyers and customers are (the documents are given on the example of SevZapTorg LLC):
contract of sale;
supply contract (Appendix No. 4);
consignment note (Appendix No. 5);
waybill for the release of goods to the side (Appendix No. 6);
act of acceptance and delivery of work performed (services rendered) (Appendix No. 7);
account (Appendix No. 8);
invoice (Appendix No. 9).
Glava 2 . Organization of accounting of settlements with suppliers and buyers
This chapter will consider the organization of accounting for settlements with suppliers and buyers in OOO Avtostil.
Autostyle LLC has been operating since 1997. The activity of this company is aimed at:
Service and maintenance of Mercedes-Benz cars.
Installation and sale of original branded accessories and spare parts for Mercedes-Benz cars.
Updating and reupholstering leather interiors of Mercedes-Benz cars, converting interiors into a mobile office.
Selection and installation of audio, video systems and security systems for Mercedes-Benz vehicles.
Car wash, car body polishing, interior dry cleaning.
Selection of Mercedes-Benz cars for purchase (by color, by model, by cost, by year of manufacture).
Post-accident restoration of Mercedes-Benz vehicles.
2 . 1 Synthetic and analytical accounting of settlements with suppliers and contractors
Suppliers and contractors include organizations that supply raw materials and other inventory items, as well as perform various works(overhaul, current repair of fixed assets, etc.) and providing various types of services.
Settlements with suppliers and contractors are carried out after the shipment of inventory items, performance of work, provision of services, or simultaneously with them with the consent of the organization. Suppliers and contractors may be issued an advance payment in accordance with the economic agreement.
Organizations themselves choose the form of payment for the delivered products, work performed, services rendered.
To summarize information on settlements with suppliers and contractors, account 60 “Settlements with suppliers and contractors” is intended. All transactions related to settlements for acquired material assets, accepted works, rendered services are reflected in this account, regardless of the time of payment.
This account includes the following:
For received inventory items, accepted work performed and consumed services, including the provision of electricity, gas, water, etc., as well as for the delivery or processing of material assets, settlement documents for which are accepted and payable through a bank;
For inventory items, works and services for which settlement documents from suppliers or contractors have not been received (the so-called non-invoiced deliveries);
For the surplus of inventory items identified during their acceptance (when the actual number of received items exceeds the amount indicated in the settlement documents of suppliers);
For transportation services, including for shortfalls and fare overruns;
For all types of communication services;
General contractor with its subcontractors in the performance of a construction contract.
Account 60 "Settlements with suppliers and contractors" is active-passive. The debit balance means the amount of advances (prepayments) issued to suppliers and contractors.
The credit balance on account 60 indicates the amount of the organization's debt to suppliers and contractors for unpaid settlement documents and uninvoiced deliveries. The turnover in the debit of the account shows the amounts of payments, write-offs and offsets for inventory items, works and services in the reporting month. The turnover on the credit of the account reflects the cost of inventory items received from suppliers, works performed by contractors and services rendered for the reporting month.
On the credit of account 60 reflect the cost of inventory items, works, services accepted for accounting.
On account 60, the debt is reflected within the limits of the acceptance amounts. If shortages are found in the received inventory items, discrepancies in prices stipulated by the contract, account 60 is credited for the corresponding amount in correspondence with account 76 “Settlements with various debtors and creditors” (subaccount “Settlements on claims”).
Without the consent of the organization, claims for the supplied gas, water, electricity, postal and telegraph services, etc. are paid without acceptance.
Analytical accounting on account 60 is kept for each presented invoice, and settlements in the order of planned payments - for each supplier and contractor. At the same time, the construction of analytical accounting should provide the possibility of obtaining the necessary data on: suppliers; on accepted and other settlement documents, the due date for which has not yet come; suppliers on unpaid settlement documents on time; suppliers for uninvoiced deliveries; advances issued; to suppliers on promissory notes issued, the due date for which has not come; suppliers with overdue bills; suppliers on a commercial loan received, etc.
Accounting for settlements with suppliers and contractors within a group of related organizations, on the activities of which consolidated financial statements are compiled, is kept separately on account 60.
Analytical accounting of settlements with suppliers in the course of settlements and the procedure for planned payments is kept in statement No. 5, the data of which at the end of the month are included in the totals for the corresponding accounts in journal-order No. 6.
Synthetic accounting of settlements with suppliers is kept in the journal-order No. 6 and the "Register of transactions for settlements with suppliers" (attachment to the journal-order No. 6). This journal combines synthetic accounting with analytical accounting. Journal-order No. 6 is a combined register where analytical and synthetic accounting of settlements with suppliers and contractors is carried out. For each of them, one line is assigned, in which the opening balance, the accrual of accounts payable and its repayment, and the final balance are recorded. After summing up the results of the journal-order No. 6 and reconciling them with other registers, the resulting credit turnover is transferred to the General Ledger.
Journal-order No. 6 on account 60 “Settlements with suppliers and contractors” is opened for a year using loose sheets. Registers of transactions for settlements with suppliers are kept separately for each supplier for the same period as the order journal.
Based on received primary documents in the registers, entries are made in chronological order within a month, i.e., for each supplier, they accumulate the amounts of settlement transactions for the corresponding material assets, debt on account 60, its payment, etc.
The following sub-accounts are opened in Avtostil LLC to account 60 “Settlements with suppliers and contractors”:
60-01 "Settlements with suppliers and contractors under accepted and other settlement documents";
60-02 "Settlements for uninvoiced deliveries";
60-03 "Settlements with suppliers and contractors for advances issued";
60-04 "Settlements on promissory notes issued to suppliers and contractors";
60-05 "Settlements on promissory notes issued to other counterparties".
The scheme of reflection on the accounts of transactions related to settlements with suppliers and contractors, which are used in Avtostil LLC, is given below.
Table 1
Journal of business transactions related to settlements with suppliers and contractors
|
Account correspondence |
||||
|
The debt to suppliers and contractors for the performed work of a production nature is reflected: for the amount without VAT For the amount of VAT |
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|
Contractors provided services for the sale of products |
||||
|
A claim was made to the supplier for discrepancies in prices identified during the verification of his settlement documents, due to contracts, as well as in the event of arithmetic errors |
||||
|
Reflected the debt to suppliers and contractors for the work performed, related to other expenses: in the amount without VAT For the amount of VAT |
||||
|
Reflected the debt to suppliers and contractors for the work performed, related to deferred expenses: in the amount without VAT For the amount of VAT |
||||
|
Suppliers invoices for incoming equipment accepted for payment |
||||
|
Accepted for payment invoices of contractors for the work performed on capital construction |
||||
|
Accrued debt for the purchase of animals from other organizations |
||||
|
Accepted for payment invoices of suppliers for goods received |
||||
|
The debt to suppliers and contractors was repaid by transferring funds from the organization's current account |
||||
|
The debt to the supplier was paid off by issuing funds from the cash desk of the organization |
||||
|
The supplier's invoice has been paid and the VAT amount paid, which is subject to tax deduction |
||||
|
The supplier's invoice was paid by the accountable person depositing cash to the counteragent's cash desk |
||||
|
Accounts payable to the supplier written off after the expiration of the limitation period: for the amount of the debt, including VAT For the amount of VAT |
2 . 2 Synthetic and analytical accounting of settlements with buyers and customers
In accounting, when products are shipped to buyers, receivables arise, which are reflected on account 62 “Settlements with buyers and customers”.
Account 62 "Settlements with buyers and customers" active-passive. The credit balance on it means that the money has been transferred by the buyer to the organization's settlement account, but the goods have not yet been received. A debit balance occurs when goods are shipped but not paid for. The debit of the account reflects the amounts for which the settlement documents are presented, for the credit - the amounts of payments received (including the amounts of advances received).
Account 62 “Settlements with buyers and customers” is credited in correspondence with the accounts of cash, settlements for the amount of payments received (including the amount of advances received), etc. In this case, the amounts of advances received and prepayment are accounted for separately.
When property is sold for foreign currency, account 62 “Settlements with buyers and customers” reflects the debts incurred during the revaluation of debt exchange differences, which increase (decrease) the turnover on this account.
Analytical accounting on account 62 “Settlements with buyers and customers” is kept for each invoice presented to buyers (customers), in case of settlements by planned payments - for each buyer and customer. When constructing analytical accounting, it should be possible to obtain data on debt secured by bills of exchange, the deadline for receipt of funds for which has not yet come; discounted bills (accounted for in banks); promissory notes for which funds were not received on time; on settlement documents, the payment term of which has not come; on unpaid settlement documents; on advances received.
To maintain analytical accounting for sub-accounts of account 62, statement No. 38 is intended. This is a turnover sheet, in which the debit and credit balance at the beginning of the month or year, debit or credit turnover in correspondence with the corresponding accounts are recorded for each position of analytical accounting. All settlements between enterprises and other organizations are built on the basis of contracts concluded with them, which indicate the terms and conditions for the delivery of products, the procedure for payment, etc. how much, payment due, etc.
Synthetic accounting of settlements with buyers and customers is kept in order journal No. 11 separately for each organization and sales channel. It records the results on account 62 at the end of the month and compares them with the data of statement No. 38. After reconciliation, the turnover on the credit of account 62 is transferred to the General Ledger.
The following sub-accounts are opened in Avtostil LLC to account 62 “Settlements with buyers and customers”:
62-01 "Settlements with buyers and customers";
62-02 "Settlements on advances received";
62-03 "Settlements on bills received".
The buyer may have transportation and procurement costs, which are included in the actual cost of purchased material assets and are reflected in material costs. The organization must choose and fix in its accounting policy the method of accounting for transportation costs. In NGO "Avtostyle" transportation costs are taken into account as part of material costs and increase the cost of material assets.
The scheme of reflection on the accounts of transactions related to settlements with buyers and customers, which are used in Avtostil LLC, is given below.
table 2
Journal of business transactions related to settlements with buyers and customers.
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Account correspondence |
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Return to buyers, customers of previously received advances, excessively transferred amounts, payment of penalties and fines |
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Reflection of the release of products and goods by an intermediary organization to the buyer |
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Acceptance of the right to claim debts of buyers and customers from separate institutions. |
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Reflection of debts on the presented settlement documents for sold products and goods. Positive sum differences |
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Reflection of debt under the presented settlement documents for the sold fixed assets, inventories and other assets. Reflection of positive sum differences |
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Receipt of cash and non-cash money, transfers to pay off buyers' debts. Receiving advance payments and advances. Payment of bills by buyers |
50, 51, 52, 55, 57 |
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Reflection of offsets for commodity exchange operations |
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Offset of advances received and prepayments |
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Write-off of doubtful debts at the expense of the previously created reserve |
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Write-off of discounted bills after their payment and receipt of a notice from the bank |
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Providing a loan to employees by endorsing received bills of exchange |
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Transfer of bills of exchange under endorsement as payment of debts to the founders for the payment of income |
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Providing claims for late payment of bills. Write-off of buyers' debts upon assignment of the right to claim |
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Assignment of the right to claim debt from buyers and customers in favor of separate divisions. Transfer of buyers' debts to other assets for trust management |
2 . 3 Accounting for advances and offsets
The deposit is the amount transferred to the seller on account of payments that the buyer owes under the contract (Article 380 of the Civil Code of the Russian Federation).
Advance payment - a sum of money or other property value transferred on account of forthcoming payments and prior to the transfer of material assets, the performance of work, the provision of services. An advance payment is a special form of credit that replenishes the amount of working capital of suppliers.
Instructions for the application of the Chart of Accounts, approved by Order of the Ministry of Finance of Russia dated October 31, 2000 N 94n, for accounting for advances received, provides for the use of a special sub-account to account 62 “Settlements with buyers and customers”.
In accordance with paragraph 3 of the Accounting Regulation "Income of the organization" PBU 9/99, approved by Order of the Ministry of Finance of Russia dated May 6, 1999 N 32n, receipts from other legal entities and individuals in the order of advance payment for products will not be recognized as income of the organization.
The amount of advance payment received on the settlement account of the organization on account of the forthcoming delivery of goods (works, services) is reflected in the accounting records as follows:
Debit 51 Credit 62, sub-account "Calculations on advances received",
The receipt of an advance payment on account of the forthcoming supply of goods (rendering of services) is reflected;
Debit 62, subaccount "Calculations on advances received", Credit 68, subaccount "Calculations for VAT",
Reflected accrual to the budget of VAT from the advance at a rate of 18%.
In accordance with paragraph 5 of PBU 9/99, the proceeds from the sale of products will be income from common species activities. Revenue may be recognized in accounting if the conditions specified in paragraph 12 of PBU 9/99 are met. In particular, it is accepted for accounting in an amount equal to the amount of receipt of funds and other property and (or) the amount of receivables, determined on the basis of the price established by the agreement between the organization and the buyer, which is consistent with the norms of clause 6 PBU 9/99.
In accounting, the accountant makes the following entries:
Debit 62 Credit 90-1
Reflected revenue from the sale of goods;
Debit 90-2 Credit 41
Written off the cost of goods sold;
Debit 90-3 Credit 68, sub-account "VAT calculations",
The amount of VAT on sales to be paid to the budget has been accrued.
After the actual sale of products or the provision of services, the accountant of the organization offsets the previously received advance payment against this supply of products. This is reflected in the accounting records as follows:
Debit 62, sub-account "Calculations on advances received", Credit 62
The offset of the previously received advance payment has been made.
When using advance payments to account 60, a sub-account “Settlements on advances issued” is opened. In the debit of this sub-account, purchasing organizations reflect the amounts of advances issued for the supply of material assets (works) or for payment in case of partial readiness of products, works. On the credit of the sub-account "Calculations on advances issued" reflect the amounts of advances issued by the supplier when paying for the readiness of products or completed work.
Debit 60, sub-account "Calculations on advances issued", Credit 50, 51, 52, 55
Advances were issued to the supplier or products accepted with partial readiness were paid for;
Debit 60 Credit 60, sub-account "Calculations on advances issued"
Advances previously issued to them are set off by suppliers when paying for completed work.
On account 62, Avtostil LLC opened a subaccount 62-2 “Settlements on advances received in rubles”, which is used by the supplier organization to account for settlements with buyers and customers. The credit of this sub-account reflects the following amounts:
advances received;
of the payment received in case of partial readiness of products and works - in correspondence with cash accounts.
The debit of the sub-account reflects the amounts credited by the buyer (customer):
advances received;
payments for partial readiness of products and works - upon presentation of settlement documents for delivered products of full readiness and work performed.
In the accounting of the organization, the following entries are possible:
Debit 51 Credit 62-2
Advances received for the supply of inventory items;
Debit 62-2 Credit 68
The amount of VAT is reflected on the basis of documents on received advances;
Debit 62-2 Credit 62
The amounts of previously received advances are credited by the buyer upon presentation of settlement documents for fully manufactured products and work performed;
Debit 68 Credit 62-2
The amount of VAT accrued earlier to the budget on received advances has been restored.
Avtostyle LLC has not recently conducted transactions using advance payments.
Set-off of counterclaims is one of the ways to terminate the obligations provided for in Ch. 26 of the Civil Code of the Russian Federation.
The procedure for conducting mutual offsets is established by Art. 410 of the Civil Code of the Russian Federation, according to which the obligation of one party to the contract is terminated in whole or in part by offsetting a homogeneous counterclaim of another party to the contract, the deadline for which has come or the deadline for which is not specified or is determined by the moment of demand. For set-off, a statement by one party is sufficient.
The need for offsetting transactions arises when two different independent contracts for the supply of products, performance of work or provision of services are concluded between two organizations, and settlement in cash for some reason is impossible. Such agreements may be concluded simultaneously or at different times. These contracts may specify various amounts, terms of payment and terms of fulfillment of obligations. Organizations form mutual accounts payable and receivable, and a possible way to repay them is to offset mutual claims.
Offsetting is possible subject to the following conditions (Article 410 of the Civil Code of the Russian Federation):
The presence of counter or "circular" debts recognized and not disputed by the parties to the contracts. The parties making the set-off are not entitled to settle the claim presented to one of the participants in the set-off transaction third party not participating in the transaction for offsetting claims;
Homogeneity of counterclaims. Monetary obligations are recognized as homogeneous, regardless of the grounds for their occurrence. Heterogeneous mutual claims cannot be settled by set-off. For example, one organization has a payment debt to another organization under a sale and purchase agreement, which, in turn, must perform under a contract construction works for the first. Obligations are heterogeneous, since on the one hand a monetary obligation has arisen, and on the other hand, an obligation to perform construction work;
A mutual offset operation is subject to be carried out only for obligations, the term of which has come or the term of which is not indicated or is determined by the moment of demand. This means that only the obligation that was not fulfilled on time and turned into a debt can be set off. An agreement in which there is no condition on the period of its validity is recognized as valid until the end of the fulfillment by the parties of their obligations.
According to Art. 314 of the Civil Code of the Russian Federation, obligations, the term for the performance of which is determined in the contract by the moment of demand, the debtor is obliged to fulfill within seven days from the date the creditor presents a demand for its execution. The limitation period begins to run after 7 days from the date of presentation of claims to the debtor. Therefore, the beginning of the limitation period in this case will not be the day of the presentation of claims, but the 8th day from the moment of its presentation.
Cases of inadmissibility of set-off are specified in Art. 411 of the Civil Code of the Russian Federation. For legal entities that carry out commercial activity, it is not allowed to set off mutual claims if one party claims to set off a debt for which the limitation period has expired (which is generally equal to 3 years from the date the debt arose) or this period will come at the time the offset is issued.
In addition, set-off of mutual claims can be made only if there is no explicit will of the parties in the conditions of counter agreements about the impossibility of mutual set-off for any of them.
The Civil Code of the Russian Federation allows for both full and partial repayment of mutual claims when offsetting. Therefore, the amount of obligations of the parties may be different and not necessarily equal. In this case, the offset is made on the amount of the smallest debt. The party whose debt was greater will still have a portion of the obligation outstanding.
Documentation of offset transactions
In accordance with Art. 9 federal law dated 21. 11. 1996 N 129-ФЗ “On Accounting” (hereinafter referred to as the Accounting Law), all business transactions carried out by the organization must be documented with supporting documents. These documents serve as primary accounting documents on the basis of which accounting is maintained.
In addition, according to Art. 161 of the Civil Code of the Russian Federation, transactions between legal entities must be made in writing, and an agreement to amend the contract is made in the same form as the contract. Therefore, when making changes to the contract, they must be reflected in writing.
Thus, one written order of the head of the organization is not enough for the accountant to complete the offsetting operation.
Mutual claims can be set off either at the request of one of the parties, or by agreement of the parties.
The statement of one of the parties is drawn up after reconciliation of mutual debts. The act of reconciliation of settlements is drawn up by the parties in any form, indicating all the details necessary for the preparation of primary documents, the list of which is given in paragraph 2 of Art. 9 of the Accounting Law...
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Accounting for settlements with suppliers and buyers is vital importance for any enterprise actively working in a market economy.
Enterprises constantly conduct settlements with suppliers and buyers. With suppliers for fixed assets, raw materials and other inventory items purchased from them, work performed and services rendered; with buyers - for the goods they bought; with customers - for work performed and services rendered.
Settlements with buyers can be performed in two ways:
In the first case, bills, acts, etc. are supporting documents, and in the second case, contracts.
Currently, settlements with buyers are carried out, as a rule, in the prepayment mode, using a payment order.
Prepayment is made to the settlement account of the organization and is reflected in the accounting of the latter as accounts payable to the buyer.
The basis for entering into the information base of the transaction on receipt of payment (prepayment) is a bank statement confirming the fact of receipt of money to the settlement account of the organization.
The debt on these calculations in the process of financial and economic activity should be within the permissible values.
Doubtful accounts receivable and overdue accounts payable indicate violations of financial and payment discipline by suppliers and customers, which requires immediate action to eliminate negative consequences. Timely adoption of these measures is possible only with the implementation of systematic control by the enterprise.
In the case of payment, only one posting is recorded: the debit of account 51 and the credit of account 62 “Settlements with buyers and customers” for the entire amount of funds received on the organization’s current account.
In the case of an advance payment, the organization that received the advance pays VAT to the budget on the amount of the advance, since advance payments are included in the taxable turnover. In this regard, two entries are recorded:
An invoice is a document that serves as the basis for accepting the tax amounts presented for deduction or reimbursement.
Invoices drawn up based on the facts of prepayment are registered in the sales book, but are not presented to the buyer for registration in the purchase book.
Account 60 "Settlements with suppliers and contractors"
Account 60 "Settlements with suppliers and contractors" is intended to summarize information on settlements with suppliers and contractors for:
received inventory items, accepted work performed and consumed services, including the provision of electricity, gas, steam, water, etc., as well as for the delivery or processing of material assets, settlement documents for which are accepted and payable through a bank;
inventory items, works and services for which settlement documents were not received from suppliers or contractors (the so-called non-invoiced deliveries);
surplus inventory items identified upon their acceptance;
received transportation services, including settlements for shortfalls and excesses of the tariff (freight), as well as for all types of communication services, etc.
Organizations that perform the functions of a general contractor in the performance of a construction contract, a contract for the performance of research, development and technological work and another contract also record settlements with their subcontractors on account 60 "Settlements with suppliers and contractors".
All transactions related to settlements for acquired material assets, accepted work or consumed services are reflected on account 60 "Settlements with suppliers and contractors" regardless of the time of payment.
Account 60 "Settlements with suppliers and contractors" is credited for the cost of inventory items, works, services accepted for accounting in correspondence with the accounts of these values (or account 15 "Procurement and acquisition of material assets") or the accounts of the corresponding costs. For services for the delivery of material assets (goods), as well as for the processing of materials on the side of the entry on the credit of account 60 "Settlements with suppliers and contractors" are made in correspondence with the accounts of inventories, goods, production costs, etc.
Regardless of the assessment of inventory items in analytical accounting, account 60 "Settlements with suppliers and contractors" in synthetic accounting is credited according to the supplier's settlement documents. When the supplier’s invoice was accepted and paid before the goods arrived, and when the received inventory items were accepted to the warehouse, their shortage was discovered in excess of the amounts provided for in the contract against the invoiced quantity, and also if when checking the invoice of the supplier or contractor (after the invoice was accepted ) discrepancies in prices stipulated by the contract, as well as arithmetic errors, were found, account 60 "Settlements with suppliers and contractors" is credited for the corresponding amount in correspondence with account 76 "Settlements with various debtors and creditors" (subaccount "Settlements on claims").
For uninvoiced deliveries, account 60 "Settlements with suppliers and contractors" is credited for the value of the received valuables, determined on the basis of the price and conditions stipulated in the contracts.
Account 60 "Settlements with suppliers and contractors" is debited for the amount of fulfillment of obligations (payment of invoices), including advances and prepayments, in correspondence with cash accounts, etc. In this case, the amounts of advances issued and prepayments are accounted for separately. Amounts owed to suppliers and contractors, secured by promissory notes issued by the organization, are not debited from account 60 "Settlements with suppliers and contractors", but are taken into account separately in analytical accounting.
Analytical accounting on account 60 "Settlements with suppliers and contractors" is carried out for each presented invoice, and settlements in the order of scheduled payments - for each supplier and contractor. At the same time, the construction of analytical accounting should provide the possibility of obtaining the necessary data on: suppliers on accepted and other settlement documents, the payment deadline for which has not come; to suppliers on settlement documents not paid on time; suppliers for uninvoiced deliveries; advances issued; to suppliers on promissory notes issued, the due date for which has not come; suppliers on overdue bills of exchange; suppliers on a commercial loan received, etc.
Accounting for settlements with suppliers and contractors within a group of interrelated organizations, on the activities of which consolidated financial statements are compiled, is kept on account 60 "Settlements with suppliers and contractors" separately.
Account 60 "Settlements with suppliers and contractors" corresponds with accounts
One of the eight principles of quality management is the organization's focus on mutually beneficial partnerships with suppliers. The supplier is viewed as a partner with a stable relationship that delivers high quality and adheres to delivery schedules and maintains flexibility to change schedules. Methods and forms of interaction with the supplier depend on: its position in the market; the results of its activities, manifested in the quality of the products supplied by it; in the resources at his disposal. There are four main forms of interaction with suppliers: organizational and economic; financial and economic; socio-psychological; legal. One of the types of organizational and economic interaction is the reduction in the number of suppliers. For a long time, firms have focused their activities on increasing their number. The advantages of this approach are ensured by the successful negotiation of prices and terms of delivery. Availability a large number providers provide choice. It also allows you to successfully cope with problems when increasing production volumes. However, these benefits come at a cost. The amount of administrative workload, the number of employees involved in placing and tracking orders, and the number of errors made are directly related to the number of active suppliers. The need to reduce the number of suppliers is determined by a more compelling argument: organizations are focused on obtaining high quality products. This is especially true for organizations with the latest technology. Reducing the number of suppliers contributes to the development of trusting partnerships between organizations.
The supplier and the consumer are interested in concluding a long-term contract. The supplier's need for this is quite understandable. To ensure the production of high quality products throughout life cycle cooperation program, he must make a very significant investment in the means of production. It also allows him to learn about the requirements of the final production process in a timely manner, and start work on the implementation of orders on time, ensuring a reduction in the lead time for the production of a new product. Long-term contracts allow the consumer to save money, since there is no need for repeated negotiations, re-equipment, retraining of employees, etc. The conclusion of such contracts provides the consumer with the opportunity to participate in the development of a new product at the early stages of its design, get acquainted with the capabilities and experience of suppliers and make the necessary changes to the project or product in a timely manner.
The financial and economic form of interaction is manifested in the change in the volume of orders, the price of products, in the rationale for increasing the price for improved quality in terms of the main parameters, and the assessment of defects. The socio-psychological form of interaction is the use of various supplier incentive programs. The legal form of interaction is the rejection of products due to their inappropriate quality, as well as the cancellation of the contract in force majeure situations.
Each organization chooses its own approach to suppliers, but these relationships should be based on mutual trust, mutual interest and a high sense of responsibility for the production of products that meet customer requirements. Both parties follow the following ten principles in their relationship.
1. The customer and the supplier bear full responsibility for quality control in mutual trust to each other.
2. The customer and the supplier are independent entities, and each respects the independence of the other party.
3. The customer is responsible for providing reliable information and for a list of clearly defined requirements for the supplier, which he is guided by in the manufacture of the necessary products.
4. A contract must be concluded between the customer and the supplier that determines the quality of the product, its quantity, cost, delivery time and method of payment.
5. The supplier is responsible for ensuring the quality that meets the requirements of the customer, as well as for providing the necessary and accurate information at the request of the customer.
6. The customer and the supplier establish product evaluation methods in advance that meet the requirements of both parties.
7. The customer and the supplier jointly develop a mechanism and methods to ensure the resolution of disputes and disagreements
8. The customer and the supplier exchange information that ensures the most efficient quality control, taking into account the interests of each party.
9. In order to maintain business partnerships that meet the interests of both parties, the customer and the supplier perform control functions, including the submission of orders, production planning, order planning, record keeping.
10. When concluding business agreements, the customer and the supplier are guided only by the interests of the consumer.
The basic principle of working with suppliers, formulated in the ISO 9000 series of standards, says that work with them should be based on partnerships and mutually beneficial relationships. The organization and suppliers are interdependent and their mutually beneficial relationship enhances their ability to create value.
The application of the principle of mutually beneficial relations with suppliers is the implementation in the organization of activities aimed at: identifying and selecting the main suppliers; establishing relationships that balance short-term benefits with long-term goals of the enterprise and society; establishing clear and open contacts; pooling the knowledge and resources of key partners; encouragement and recognition of improvements and achievements of suppliers; initiating joint development and improvement of products and processes; working together to clearly understand the needs of the consumer; development of joint improvement actions; exchange of information and plans for the future.
main goal this principle is a change in the company's strategy regarding interaction with its suppliers. Only mutually beneficial relationships provide both parties with the best opportunities and maximum benefits. Mutual efforts to ensure continuous improvement should become the norm for both parties. The quality management system (QMS) should include the prerequisites for building just such an interaction. The conclusion is that the principle of mutually beneficial relationships with suppliers, formulated in the ISO 9000 series of standards, suggests that work with them should be based on partnership mutually beneficial relationships, which will provide both parties with the best opportunities and maximum profit.
Conditions for the implementation of mutually beneficial relationships with suppliers. Enterprises manage the processes of supplier selection, procurement, input control. Price cannot be used as a selection criterion. The company cannot force suppliers to make quality deliveries. It is necessary to answer simple questions: how to change the existing system of relations with the supplier; how to understand that the existing relationship is mutually beneficial; what is the algorithm for choosing a supplier, based on the eighth principle of quality management, etc. It is necessary to determine the conditions that are necessary at all stages of relations with suppliers: ideological compatibility; volume parity; Team work; mutual tone. Ideological compatibility - this condition means that the customer and supplier have non-financial reasons to work together. The parties will find such reasons if it turns out that their ideologies - principles of work, attitude to life are similar. To find out ideological compatibility, a discussion on the topic "How we used to work" is needed - and a fundamental similarity of answers. For example, the fact that both enterprises are striving to develop their quality management systems (QMS) may well become the basis for both the first contact with the supplier and for further work with him. Volume parity - this condition means that the supply volumes are significant for both parties: both for the supplier and for the client. This provides a perspective, the ability to plan. Joint activity is an extension of non-financial reasons to work together. Mutual "tone" - this condition indicates that mutually beneficial and "good" relationships are different, sometimes opposite concepts. A “good” relationship obliges the parties to constantly forgive each other for mistakes. The goal of a mutually beneficial customer-supplier relationship is to help each other improve. This obliges the parties to raise the status and reputation of each other. The customer and the supplier must keep each other within limits, in particular by defining in detail the hard penalties in the contract. Each failure is recorded in writing: this is useful for corrective actions of the QMS. “Trust but verify” is the norm for mutually beneficial relationships. All these conditions are based on a simple initial thesis: real mutual benefit is possible only if the parties are equal. The supplier will similarly choose and hesitate whether to make an effort to develop a relationship with that customer.
You can classify relationships with suppliers using the proposed cause-and-effect diagram, which is shown in Fig. one.
Figure 1 - Causal diagram of relationships with suppliers
Literature:
1. GOST R ISO 10014 - 2008. Guidelines for achieving economic effect in the quality management system. - M.: Standartinform, 2009. - 22 p.
