Current account with acceptance of another organization

Accounting for settlements with suppliers and contractors in accounting

The receipt of material assets, works, and services from suppliers is carried out on the basis of concluded supply, contract, commission, power supply, etc. contracts.

Primary documents for accounting for settlements with contractors include invoices (TORG-12), acts of service provision, invoices and other documents issued by contractors and suppliers, as well as bank and cash payment documents:

To reflect information about settlements made with suppliers, a separate accounting account is used - 60. This account is active-passive, so in accounting it can be displayed both in credit and debit turnover:

• The debit of this account displays the amounts of fulfilled obligations - advance payments and full mutual settlement. It should be noted that the amounts of payments made are taken into account separately.
• The loan takes into account the cost of purchased goods and services. Lending is carried out on the basis of settlement documents received from the supplier.

Analytical accounting is carried out in the context of presented invoices. In addition, proper accounting for this account allows you to group suppliers by payment terms, uninvoiced deliveries, bill transactions, etc.

Invoice accepted for payment: errors and consequences

An incorrect interpretation of the concept of “acceptance” in accounting can lead to distortion of accounting data and, as a result, the reflection of unreliable information in the financial statements. Let's look at this situation using an example.

A first-year financial college student, P. L. Samokhvalov worked part-time in his free time at Zimny ​​Les LLC as an assistant in the accounting department. During the period of illness of the chief accountant, a stack of documents was transferred from the directorate to the accounting department, and the student was instructed to enter the documents into the 1C program.

The bundle contained a variety of papers: contracts, invoices, invoices, invoices. The student knew how to enter invoices into the program - he had already been taught this. But he didn’t have to work with bills to pay. But the student showed ingenuity. He did not ask advice from his more experienced colleagues, opened his training manual with test tasks in the discipline “Accounting”, found a test that was suitable in meaning with the wording “an invoice for payment for the supplied materials was accepted” and made entries, as was written in the answer to test:

• Dt 10 Kt 60 - for the cost of materials;
• Dt 19 Kt 60 - for the amount of VAT allocated from the cost of materials.

However, he missed two points:

• the materials were not actually received from the supplier;
• there was no primary document on the basis of which entries could be made in accounting (an invoice for payment, even with a director’s visa, is not a primary document).

As a result, materials that do not exist and non-existent VAT appeared on the company’s balance sheet. In addition, Zimniy Les LLC incurred a debt to the supplier who issued the invoice for payment. And in the company’s balance sheet, the data in two sections at once was distorted: “Current assets” and “Short-term liabilities”.

The chief accountant, who had returned from sick leave, spent a long time checking the primary data with the data in the program until the error was discovered. The student got away with a verbal reprimand the first time.

Find out what fines are imposed for distorting accounting data here.

Thus, if an invoice received from a supplier is accepted for payment, an accounting entry to reflect this fact (as a separate operation) is not needed.

Accounting for suppliers and contractors according to account 60

Postings for settlements with suppliers

Accounting account 60 is an active-passive account “Settlements with suppliers and contractors”, opens the “Settlements” section of the chart of accounts and serves to summarize information on all types of settlements of the organization:

• With various legal entities and individuals;
• Including on-farm payments.

All transactions related to payments for purchased goods, materials, consumed services or accepted work are reflected in account 60, regardless of the fact of payment. Account 60 is credited according to the supplier's settlement documents, debited for the amount of fulfillment of obligations, that is, payment of bills, including advances and prepayments, in correspondence with cash accounts, etc. In this case, the amounts of advances issued are accounted for separately in a separate sub-account.

For account 60, analytical accounting is maintained for each supplier invoice received, and settlements are made in the order of scheduled payments, that is, for each supplier separately.

Types of settlements on account 60:

Typical wiring

Let's look at the main transactions for account 60 in the table:

Analysis of account 60: balance sheet, account card

The balance sheet for account 60 is a report in the form of a table, which presents the beginning and ending balances, turnover for the selected period by account or subaccounts, subaccounts, currency amounts, and expanded balance.

An account card is a report with details down to the posting (account).

You can analyze mutual settlements and the movement of documents for settlements with suppliers in the 1C Enterprise Accounting program using standard reports Account Card and Turnover Balance Sheet (hereinafter referred to as SALT) for account 60 “Settlements with suppliers and contractors” with a specific counterparty or in general for all.

It is correct to do this according to subaccounts:

• Subaccount 60.01 reflects the settlements with suppliers themselves;
• Subaccount 60.02 reflects advances issued.

In SALT, the balance on subaccount 60.01 is reflected as a credit, and the balance on subaccount 60.02 is reflected as a debit.

For example, when posting a bank, if it is paid to the counterparty on an invoice, then the goods are received and the payment should be reflected in the debit of subaccount 60.01. If there was an advance payment for goods or materials to the counterparty, then - by debit of subaccount 60.02.

If the posting is done incorrectly, then the balance with a minus will “hang” in the SALT for account 60. If there is a minus balance on the loan of the subaccount 60.01, this means that the prepayment was reflected incorrectly, not on the subaccount 60.02.

Example

Snegir LLC transfers an advance to Bor LLC for goods in the amount of 23,600 rubles. A few days later, the goods arrived from the supplier on account of the previously issued advance in the amount of 23,600 rubles.

Postings to account 60 for the advance payment issued to the supplier:

Posting the transfer of debt to suppliers

Each entity of financial and economic activity is required to keep accounting records for all types of mutual settlements with its counterparties. The latter refers to enterprises that supply a variety of materials, raw materials, goods and other inventory items, provide various services, or perform some kind of work.

Any mutual settlements with counterparty enterprises take place in the enterprise’s accounting department under account No. 60, which has a similar name: “Settlements with suppliers and contractors.” Information on it for each counterparty is shown separately. According to the purposes of management accounting, various sub-accounts can be opened for it. In this article we will examine in detail the accounting features of transferring debt to suppliers.

Accounting for repayment and write-off of debt to suppliers

In its structure, account No. 60 is active-passive: its debit records the amounts of obligations fulfilled to suppliers (taking into account advances and prepayments), its credit records the cost of completed work (services rendered) accepted for accounting in correspondence with the corresponding accounts for their accounting.

The basis for the entry is such primary documents from the supplier as a delivery note, a certificate of completion of work, an invoice, etc. In practice, management accounting is more often maintained by enterprises in the context of specific invoices presented for payment. A well-structured individual chart of accounts for a specific organization can allow for separate accounting, for example, by the maturity of debts, uninvoiced supplies, etc.

Important! All transactions taking place on account 60 must be reflected on it in a timely manner and regardless of the fact of payment. All received inventory items are reflected strictly in the same amount as they were determined in the provided settlement documents.

For uninvoiced deliveries, the invoice will be credited for the value stated in the valid contract between the buyer and supplier.

Repayment of debt to the supplier (contractor) is reflected in the debit of account 60

Any resulting accounts payable to any suppliers of goods and materials and services can arise exclusively in two cases:

• when the organization has not paid its counterparties for the goods (services) supplied;
• when any advance payment has been received, but the organization has not yet fulfilled its obligations.

Let us remind you that any outstanding accounts payable must be written off within the time limits established by PBU No. 34. Business rules usually operate for a period of three years (the statute of limitations).

Accounting for all financial transactions with counterparties can also be kept in journal order No. 6, which combines both analytical and synthetic accounting.

Any resulting debt is written off as a debit to the account we are considering.

Below are examples of such operations:

If three years have passed since the indebtedness to the supplier (contractor) arose (that is, the statute of limitations has expired), then you must write it off

Transfer of advance payment to the supplier

If an advance is transferred to the supplier in advance, then a sub-account with the same name “Advance issued” should be opened on account 60. After receiving the delivery for which the advance was issued, it is offset by the following entry: D60 K60 (subaccount “Advance issued”).

Let's give an example: organization “One” transferred an advance payment to its supplier organization “Two” in the amount of 100,000 rubles. A week later, goods from organization “Two” arrived at organization “One” for the full cost of the advance payment.

At the time of transfer of the advance, “Odin” makes the following entry:

D 60/2 K 50 (51.52) 100,000 rubles (based on a payment order or bank statement).

In a week we will receive the goods received:

D 10 (41) K 60/1 84,446 rubles (based on the delivery note, invoice).

We immediately note VAT:

D 19 K 60/1 15,254 rubles (100,000 * 18: 118) (based on invoice).

And we offset the advance:

D 60/1 K 60/2 100,000 (based on a certificate).

If you do not want to exercise the right to deduct VAT on advances paid to the supplier, do not use it. Applying such a deduction is your right, not your obligation.

Paying off debt in cash

Repayment of debt to the supplier for goods in cash from the company's cash desk is reflected in the following entry: D 60 K 50.

In this case, various subaccounts to account No. 50 can be used:

• 1, if the money is issued from the main cash register of the enterprise;
• 2, if the money is issued from various commodity cash desks: post offices, commodity offices, etc.;
• 3, if bills of exchange and similar monetary documents were used.

Accept - what does it mean?

In essence, acceptance (English Accept - agree, accept) is the agreement of the recipient of the document to pay or be responsible for timely payment under this document.

Acceptance is a procedure for reviewing the basic terms of a financial, payment or other document and making a decision on payment. Acceptance can be transmitted to the sender of the document through an electronic signature, an inscription on the document or other means of communication.

According to Russian legislation, acceptance is complete (it is impossible to accept part of an obligation) and unconditional (unconditional).

According to the Civil Code, the deadlines are determined from the moment from which various documents are considered accepted. Let's look at the main ones.

Check

Acceptance of the invoice represents the payer’s agreement with the amount, terms and the received claim as a whole. The presence of acceptance presupposes settlement by non-cash transfer from the payer's account to the recipient's account.

At the same time, an accepted invoice does not give the seller of goods or services the right to demand payment earlier than established by the contract or agreement. When the buyer contacts the bank with a refusal to pay, the credit institution will require the basis for the refusal. If acceptance is received, the bank makes the payment through its settlement center on behalf of the payer.

Offer

If acceptance of an invoice is consent to make a payment, then acceptance of an offer is consent to conclude an agreement or contract on the terms specified in the offer.

The offer reflects the essential parameters of the contract being concluded and sets a certain deadline for a response. A simple response to an offer that contains comments on the terms of the agreement does not constitute acceptance. The moment of acceptance is the moment the sender receives the offer of acceptance.

If the withdrawal of acceptance is received simultaneously with the acceptance itself, the offer is considered not accepted. At the same time, Russian legislation provides for the acceptance of an offer exclusively and necessarily by the person to whom the offer was sent.

Bill of exchange

Acceptance of a bill of exchange is the affixing on its face of an inscription indicating the acceptance of the acceptor to pay the bill of exchange. There is no acceptance on a promissory note, since it simply does not make sense - the obligation to pay arises and is accepted by default by the payer on the date the bill is issued.

The moment of acceptance is the date of affixing the inscription on the bill. Acceptance is used only in respect of a draft. obligatory, if the drawer indicated its obligatory nature in the text, the draft is paid within a certain period from the moment of its presentation, the draft is paid by the payer of the bill.

Invoice accepted: posting

Update: July 6, 2021

To correctly reflect the acceptance of an invoice in accounting, as well as to understand which entry will reflect a fact of economic life in which, for example, a supplier’s invoice for received materials is accepted, a clear understanding of what fact of economic life is meant by this definition is necessary. The concept of acceptance is given in Art. 428 of the Civil Code of the Russian Federation, which explains that acceptance is a response to full and unconditional acceptance of the terms of the offer. In accounting, invoice acceptance is considered based on this regulatory definition.

Taxes and law

To calculate VAT in this case, you need to use the formula - SM / 1.18 * 0.18, where SM is the amount including VAT. DBT 68 KDT 19 – VAT credited (posting 50,400). Dbt 60 Kdt 51 – payment to the delivery person (posting 330 400). Task 2 The delivery person sent materials by rail (through a third party - Russian Railways).

The materials have arrived and been received. The cost of materials is 200,000 rubles. with VAT on top of 18%, railway tariff - 45,000 rubles. Reflect on accounting accounts. DBT 10 KDT 60 – the supplier’s invoice for received materials has been accepted (railway tariff for goods = 245,000). DBT 19 KDT 60 – VAT (36,000). In this problem, VAT is not included in the cost of the material and must be calculated differently.

Related publications

Direct debiting of funds

The concept of acceptance in accounting

The concept of acceptance, based on the above definition in the Civil Code of the Russian Federation, is applicable to an offer. In turn, an invoice for payment can be considered as an offer in which the seller (supplier) offers the buyer to purchase a certain product or service for a certain amount. According to Art. 435 of the Civil Code of the Russian Federation, an offer is recognized as a specific proposal sent to addressees (one or more), which fully expresses the intention of the person who sent it to enter into a contractual relationship with the addressee. In the case of acceptance of an invoice, such an action is its full or partial payment. Thus, in order to reflect the acceptance of the invoice, it is necessary to reflect the entries for the accrual of debt, the accrual of VAT, if necessary, and the payment made on this invoice.

In the business tradition, in particular, an approach is used according to which an invoice is called accepted if the responsible person has agreed to pay it (the invoice has been endorsed for drawing up a payment order to the bank).

Types of AK in used

The concept of AK relates more to banking and finance, and to a lesser extent to accounting. In our case, AK occurs only when making payments through a company’s bank account. The main types of such settlements are payment order (hereinafter referred to as PP) and payment request (hereinafter referred to as PT). The difference between them is that with the help of a PT, the deliverer demands payment from the payer for a product, service or work (issues an invoice), and with the help of a PT, the payer instructs the bank to pay from his account for a product, service or work from the delivery person.

AK occurs when paying through PT, which comes in two types: with AK and without AK. PT with AK means that the payer must agree to this (accept the invoice) within three days before paying the invoice. After this period, if the payer has not accepted or refused to pay, the PO is considered accepted. PT without AK does not include the payer’s consent, and money is transferred from the payer’s account to the deliveryr’s account immediately. This type of payment (without AK) is possible only if it is specified in the agreement between the deliverer and the buyer (payer).

Transactions with transactions accepting the supplier's invoice for received materials are carried out on the basis of the acceptance type of PT. Refusal from AK (payment of invoice) can be complete or partial. In case of complete or partial refusal, the buyer must make a statement of refusal to his bank with a covering letter stating the reasons for the refusal and an indication of those clauses of the contract that were not fulfilled. The bank does not accept unfounded refusals by the payer, and the bank does not consider all possible disputes between the buyer and the delivery person.

Accounting entries to reflect acceptance

The most relevant business transactions for which an invoice can be accepted are:

• purchasing materials or services, including utilities;
• transportation of inventory items not included in their cost;
• supply and installation of equipment.

To reflect facts of economic activity related to accepted supplier invoices for goods or services, the following entries are used:

Accepted bill for electricity, gas, water

Dt 20, 23, 25, 26 Kt 60 – debt accrued to suppliers for work performed and services rendered, incl. provision of energy, gas, steam, water for production needs, experimental work and maintenance.

Dt 60 Kt 50, 51 – the utility bill has been paid.

From the above examples it is clear that in order to reflect an accepted invoice from suppliers of materials and services, it is necessary to reflect in accounting the accrual of debt on a loan and the occurrence of a corresponding asset in debit, the accrual of VAT on purchased values ​​and payment of the invoice.

Accountants of enterprises often encounter the concept of acceptance in the process of mutual settlements with counterparties. What does “accepted invoice” mean under Russian civil law? How to reflect in the company's accounting a transaction when a supplier's invoice is accepted. What kind of wiring is this? Let's look at the regulatory features.

Acceptance of an invoice is...

The term invoice acceptance is regulated in stat. 438 Civil Code of the Russian Federation. According to this norm, acceptance is the unconditional and complete acceptance by the recipient of the addressed terms of the offer. In turn, an offer is a proposal for cooperation addressed to one person (or several), containing specific contractual terms. By its legal essence, acceptance implies the unconditional fulfillment of the obligation of the buyer of the product to pay the full cost of the product (or service). You cannot transfer funds partially or set your own conditions for fulfilling obligations.

An accepted invoice is the acceptance of consent to pay for a received document by non-cash debit. In this case, the exact terms of debt repayment are approved in the agreement with the supplier. This is the most common option for mutual settlements between consumers and utility service providers. In this situation, a contract for the supply of, for example, electricity is previously concluded, which specifies the terms of payment. The buyer is then issued an invoice, which goes directly to the bank based on an additional agreement between the bank and the client. And finally, the financial institution repays the acceptance within the established time frame, that is, debits the funds from the payer’s account in favor of the electricity supplier.

Postings for accepted transactions: the first event is making an advance payment (deposit) for the goods

COST ACCOUNTING

Problem 13.1

Exercise

Initial data

The Agreement with the General Contractor provides for the possibility of acceptance when more than 90% of the scope of work is completed. Acceptance and delivery was carried out in stages, as evidenced by the signed acts, and at the time of presentation of the offer, the main volume (90%) was completed at a high quality level. The General Contractor does not have any available funds in his account, and he involuntarily delays settlements with the subcontractor.

It is reasonable that the Subcontractor turns to the General Contractor, and the latter agrees with the proposals presented. When money arrives in the latter’s account, it is transferred to the balance of the subcontractor, thus closing the existing debt. As a result of such an effective financial transaction, it is possible to avoid lengthy legal proceedings (and in this case, the subcontractor has every reason to file a claim and go to court), unnecessary penalties, fines, penalties, as well as subsequent enforcement proceedings by court decision.

Nuances of acceptance in accounting

We figured out that when they say “invoice accepted”, this only means acceptance of the documentation for payment. The fact of payment is reflected after the funds are written off. How are such transactions reflected in the accounting of the enterprise? How should the time interval between acceptance and payment of the invoice be taken into account?

In the accounting of the enterprise, all accepted invoices are subject to reflection on the account of settlements with suppliers, that is, the account. 60. Here, synthetic and analytical accounting is maintained for counterparties, dates of occurrence/repayment of obligations, range of products (services), accepted documents ready for payment, positively approved by the head of the organization. Postings are formed according to the rules of Order No. 94n of the Ministry of Finance of Russia dated October 31, 2000.

The general acceptance procedure includes two main steps. First, the supplier supplies the buyer with the necessary products (or provides services, performs work). After which, an invoice for payment will be issued directly within 5 days. According to civil law, the amount must be paid by the buyer from his current account in full and without any changes.

Accounting for accepted obligations in accounting registers: structure of accounts for postings

The acceptance of budgetary obligations by government agencies is carried out using account 0 502 01 000 (accepted obligations) according to the Unified Chart of Accounts, approved by Order of the Ministry of Finance of the Russian Federation dated December 1, 2010 No. 157n.

The institution has the right to apply those accounts that are given in the regulations governing accounting in specific types of government institutions - government (order of the Ministry of Finance of Russia dated December 6, 2010 No. 162n), budgetary (order of the Ministry of Finance of the Russian Federation dated December 16, 2010 No. 174n), autonomous (order of the Ministry of Finance RF dated December 23, 2010 No. 183n).

But one way or another, all accounts in the indicated sources of law are based on those approved by Order No. 157n, therefore this order, whose jurisdiction extends to all types of institutions, can be used as a regulatory normative act.

Postings on the credit of account 0 502 01 000 related to the acceptance of budget obligations may correspond, in particular:

• with the debit of the account 0 501 00 000 (limit limits), if the institution is state-owned;
• with the debit of account 0 506 00 000 (the right to obligations), if the institution is autonomous or budgetary.

Budgetary obligations, as we noted above, are closely related to financial obligations, which also correspond to individual entries. To account for financial liabilities, account 0 502 02 000 (accepted financial liabilities) is used.

The full code of the budget accounting account is 26 digits. In practice, the first 17 digits are usually not reflected in accounting registers, since they are defined in the BCC list and therefore are the same for all transactions involving the expenditure of budgetary funds by institutions in a specific area of ​​budgetary financing.

Thus, in the accounting registers of budgetary institutions, a 9-digit code is used (corresponding to 18–26 digits of the full account). When generating accounts for postings on budget obligations, it will be presented in the following structure:

• the first digit is the financial security code (according to the list given in clause 21 of the Instructions, approved by Order No. 157n);
• the next three digits are a synthetic code (in our case - 501, 502 or 506);
• the next 2 digits are the analytical code (corresponding to the period of obligations assumed - according to the list given in paragraph 309 of the Instructions);
• three more digits in the account structure are, in general, the KOSGU code (but autonomous institutions use codes in accordance with the Instructions under Order No. 174n).

In this case, the second digit in the two-digit analytical account code (which follows the three-digit synthetic one) will be determined:

• when using the synthetic code 501 - the status of the budget obligation limit (it can be, for example, completed - in this case the number 1 is recorded or approved - in this case the number 9 is used);
• when using the synthetic code 502 - the type of obligation (if it is budgetary, the number 1 is recorded, if it is monetary, the number 2 is recorded).

Depending on the specific business transaction, transactions are recorded in the accounting registers using accounts generated taking into account the rules we have discussed.

Among the most common business transactions of government agencies that comply with their budgetary obligations are:

• payment for work and services provided by third-party business entities;
• payment of wages to employees;
• implementation of targeted subsidies.

Let's look at examples of postings for relevant business transactions.

Acceptance of an invoice from a supplier of goods or services

Let's look at examples of what is an accepted supplier's invoice for materials or services?

Let’s assume that Rostekhstroy LLC entered into an agreement for the purchase of building materials for RUB 236,000.00. (VAT – 18% in the amount of RUB 36,000.00). Under the terms of the transaction, the supplier ships the goods on November 14, 2017, and as part of the agreement with the buyer, an invoice for payment was issued on November 17, 2017. The obligations are fulfilled by Rostekhstroy LLC on the same day, in full, by debiting the required amount from the current account.

Results

Accepting the supplier's invoice means in most cases the buyer's agreement to pay. In accounting, such an action is not considered as a separate business transaction. All entries in accounting accounts can be made only on the basis of primary documents. An invoice for payment (even with a permit visa from the head of the company) is not a primary document.

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