How to draw up a balance sheet under a simplified taxation system

Is it necessary to submit a balance sheet under the simplified tax system?

The question of whether a company submits its balance sheet to the simplified tax system arises quite often. The fact is that previously such enterprises were exempt from accounting. However, several years ago, changes were made to the legislation obliging any company to submit reports. Therefore, it does not matter which tax object the company has chosen. The balance under the simplified tax system “income” or “income minus expenses” still needs to be filled out and submitted within the deadlines established by law - before March 31 of the next year (clause 5, clause 1, article 23 of the Tax Code of the Russian Federation).

Applicable form

Forms of financial statements are given in Order of the Ministry of Finance dated July 2, 2010 No. 66n. On June 1, 2019, changes came into force (approved by Order of the Ministry of Finance dated April 19, 2019 N 61n) concerning the applicable forms. Two forms of balance remain relevant:

• regular;
• simplified.

The organization decides independently which balance sheet to fill out under the simplified tax system, taking into account the current legislation when choosing.

What balance is submitted to the simplified tax system?

In a simplified form, unlike the usual one, all indicators are indicated in a larger scale, without fine detail. It can be used by the enterprises named in paragraph 4 of Art. 6 of the Law on Accounting dated December 6, 2011 No. 402-FZ. In particular, small enterprises can choose a simplified reporting option if there are no other restrictions for them established by Art. 6 of Law No. 402-FZ, for example, mandatory audit. Most often, the balance sheet of an LLC using the simplified tax system is prepared in a simplified form.

You can check whether an LLC on the simplified tax system is a small enterprise under Art. 4 of the law of July 24, 2007 N 209-FZ.

How to make a simplified balance sheet for the simplified tax system for 2019: form and recommendations

First you need to close the accounting reporting period. To balance the balance, accounts 90, 91 and 99 are closed on December 31 of the reporting year - this is called reformation. For a simplified balance sheet under the simplified tax system in 2019, this procedure is the same as for a regular one. The necessary transactions are presented in the table; an example of filling out a statement of financial results based on these transactions is shown in Fig. 2. For such entities, subaccounts for value added tax and excise taxes (90-3, 90-4, 91-3) are irrelevant.

The LLC balance sheet on the simplified tax system for 2021 is due at the end of the year until March 31, 2021. One copy of the organization form must be submitted to the Federal Tax Service, and the second to Rosstat. Let's take a closer look at filling out this simplified reporting form for an LLC in our material.

Filling out the balance under the simplified tax system

Rules have been established for reporting (approved by order of the Ministry of Finance dated July 29, 1998 No. 34n), for violation of which the company can be fined. For example, you must comply with the following requirements:

• about the reliability and completeness of the report;
• filling out lines without collapsing items on assets and liabilities, profits and losses.

The amount of assets and liabilities indicated in the final lines of the balance sheet under the simplified tax system must match. If there is a discrepancy between the totals of assets and liabilities, the form is filled out incorrectly.

How to fill out a balance sheet using the simplified tax system in 2021

To draw up a balance sheet, data is taken on the last day of the reporting year from the balance sheet. To reflect assets (current and non-current assets), 5 main indicators are used, for liabilities (liabilities) - 6. All row data is indicated in thousands of rubles. To make it easier to understand how to reflect information in the balance sheet, we will give an example of how to fill it out.

Report on financial results on the simplified tax system - example of filling

is engaged in the provision of transport services. After the end of the year, the accounting department received final figures for the company’s activities, which they distributed along the lines of the “Report on Financial Results”:

• Revenue: income from the provision of services amounted to 17,800 thousand rubles. (line 2110).
• Ordinary activities expenses included the following transactions:

  purchase of OS for a total amount of 200 thousand rubles. — the amount in accounting is fully attributed to the organization’s expenses, because the cost of each fixed asset is less than 40 thousand rubles;

• drivers' salaries were accrued - 3,100 thousand rubles;
• expenses for the purchase of spare parts – 800 thousand rubles;
• expenses for fuels and lubricants – 8600 thousand rubles;
• transport tax amounted to 477 thousand rubles;
• salary for management and administrative personnel - 800 thousand rubles;
• contributions to extra-budgetary funds were accrued - 1209 thousand rubles;
• 385 thousand rubles were transferred for electricity;
• advertising in the media was paid for in the amount of 20 thousand rubles;
• stationery and household goods were purchased - 50 thousand rubles;
• expenses for maintaining buildings amounted to 87 thousand rubles.

In total, expenses were incurred in the amount of 15,728 thousand rubles. (line 2120).

• Interest on the loan taken to replenish working capital amounted to 657 thousand rubles. (line 2330).
• Other income includes rent for a warehouse transferred under a lease agreement to a third party in the amount of 300 thousand rubles. (line 2340).
• Other expenses included:

  bank commission for maintaining a current account and servicing – 168 thousand rubles;

• penalties paid according to the requirements of the Federal Tax Service - 63 thousand rubles;
• land tax – 80 thousand rubles.

The total amount of other expenses is 311 thousand rubles. (line 2350).

• The annual tax according to the simplified tax system “income minus expenses”, calculated according to KUDiR data, is 164 thousand rubles. (line 2410).

By adding up income and subtracting expenses for completed report items, the following result from the company’s activities for the year will be obtained:

p. 2110 – p. 2120 – p. 2330 + p. 2340 – p. 2350 – p. 2410 = 17800 – 15728 – 657 + 300 – 311 – 164 = 1240. This means that the company received a net profit at the end of 2021 in the amount of 1240 thousand rubles, which is reflected in line 2400 of the report.

After filling out all the indicators, the reporting is signed by the manager, and a transcript of his last name is given. The date the report was signed is indicated at the bottom of the document.

Column 4 provides data for the previous reporting year. The form is submitted to the regulatory authorities simultaneously with the balance sheet of the enterprise.

A sample of filling out the form according to the described example for 2021 is given below.

Balance sheet for simplified tax system - example

Usually, when drawing up a balance sheet, small companies have difficulty with where to include certain income and expenses. In order to understand more clearly how to draw up a balance sheet for an LLC using the simplified tax system, we will do without “debits/credits”, but will try to explain as simply as possible how to draw up a balance sheet in a simplified form.

Vympel LLC is engaged in wholesale trade. The company was organized at the beginning of 2021. The organization uses the cash method of accounting. Authorized capital 10 thousand rubles. The company spent the entire amount of money received from the founder as a contribution to the management company on the purchase of goods. At the end of the year, the LLC has the following indicators:

• fixed assets (fixed assets) with a useful life of 4 years were purchased - 160 thousand rubles;
• expenses include 50% of the cost of fixed assets (depreciation) - 80 thousand rubles;
• there are goods worth 120 thousand rubles in the warehouse;
• there are 78 thousand rubles in the current account, there is no cash left in the cash register;
• purchased goods from suppliers in the amount of 5,320 thousand rubles;
• goods were sold for the amount of 6,410 thousand rubles (5,200 rubles plus a trade margin of 1,210 thousand rubles); at the same time, the buyers have a debt in the amount of 141 thousand rubles;
• received for goods delivery services from customers - 37 thousand rubles;
• spent on gasoline and fuels and lubricants - 50 thousand rubles;
• transport tax paid - 15 thousand rubles;
• staff salaries were accrued in the amount of 600 thousand rubles, the balance of wages unpaid at the end of the year was 60 thousand rubles;
• personal income tax accrued - 78 thousand rubles, the balance of unpaid tax - 8 thousand rubles;
• compulsory insurance premiums were accrued - 195 thousand rubles, 25 thousand rubles remained unpaid at the end of the year;
• other expenses of the company (stationery, bank commission for maintaining and servicing a current account, household goods) amounted to 40 thousand rubles;
• debt to suppliers for goods at the end of the year - 73 thousand rubles;
• to replenish working capital, the organization took out a short-term loan for 6 months, the outstanding balance on which at the end of the year was 112 thousand rubles;
• At the end of the year, tax under the simplified tax system was not paid - 6 thousand rubles.

How to group these indicators in the balance sheet of Vympel LLC?

Assets:

• Tangible non-current assets (line 1150) include installation equipment and fixed assets at their residual value. The residual value of fixed assets is: 160 – 80 = 80 (acquisition cost minus depreciation expensed).
• There are no intangible, financial or other non-current assets (for example, licenses, shares) in the LLC, so line 1170 is not completed.
• Inventories on line 1210 (goods, materials, finished products) included goods and materials in the warehouse - 120 thousand rubles.
• Cash and cash equivalents on the current account and in the cash register (line 1250) – 78 thousand rubles.
• Financial and other current assets include accounts receivable from third parties (for example, accountable persons, buyers for goods and services supplied but not paid for, advances to suppliers), therefore line 1230 includes the debt of buyers - 141 thousand rubles.

Passive:

First, let's calculate expenses and profits.

• Expenses from ordinary activities of the company amounted to 6,260 thousand rubles. (5320 (payment to suppliers) + 80 (depreciation of fixed assets) + 50 (fuel and lubricants) + 15 (transport tax) + 600 (salary) + 195 (insurance contributions for wages)).
• Other expenses for the year – 40 thousand rubles.

Total expenses for the year: 6260 + 40 = 6300 thousand rubles.

• Revenue from activities: 6447 thousand rubles. (6410 (products sold) + 37 (delivery services).
• The tax under the simplified tax system for the year was: (6447 – 6300) x 15% = 22 thousand rubles.
• Net profit from activities amounted to: 125 thousand rubles. (6447 – 6300 – 22).

In the liability side of the balance sheet we wrote:

• Line 1300 “Capital and reserves” included the authorized capital (10 thousand rubles) and profit from operating activities (125 thousand rubles), for a total of 135 thousand rubles.
• Short-term borrowed funds with a repayment period of less than 12 months (line 1510) included a bank loan - 112 thousand rubles.
• Accounts payable (line 1520) includes the company’s debts: wages (60 thousand rubles) + personal income tax (8 thousand rubles) + insurance premiums (25 thousand rubles) + debt to suppliers (73 thousand rubles). ) + simplified tax system (6 thousand rubles) = 172 thousand rubles.

Since the company does not have long-term borrowed funds or obligations, a dash is placed on lines 1410 and 1450.

There are also no other short-term liabilities (deferred income, expense reserves) (line 1550) - put a dash through.

The data in the balance sheet is presented for three years - for the reporting year and for each of the two preceding it. Since the company in the example was created in 2021, it does not fill out the balance sheet columns for the previous 2 years.

At the end of the balance sheet, the manager’s signature and his last name are indicated, and the date of completion is indicated. For submission to the Federal Tax Service, a balance sheet form with line codes is used, which can be downloaded below.

Sample balance sheet for simplified tax system:

General information ↑

What is the simplified tax system should be determined first of all, because the basic procedure for drawing up and conditions for submitting reports depends on your competence in taxation. It wouldn’t hurt to figure out what forms of reports simplifiers should prepare.

The essence of the simplified taxation system

The simplified taxation system is a special tax regime that reduces the tax and accounting burden on small businesses.

Payers of tax on the simplified tax system are individual entrepreneurs and legal entities who have voluntarily switched to the simplified tax system and use the rules applicable to it in accordance with Art. 346.12 Tax Code.

Enterprises under a special regime do not have to pay:

1. VAT.
2. Property tax.
3. Taxes in PF.
4. Personal income tax (for individual entrepreneurs), except when he acts as a tax agent.

The simplified tax system is a single tax that is paid instead of all transferred contributions.

The right to switch to the simplified tax system arises if:

The following do not have the right to apply the simplified tax system:

• banking institutions;
• insurance organizations;
• investment funds;
• organizations whose activities are related to the stock market;
• pawnshop;
• firms that produce or sell excisable products or extract minerals;
• notary, lawyer and their education;
• representatives of the gambling business;
• participants in the goods sharing agreement;
• budgetary education;
• foreign enterprises.

The taxpayer has the right to choose the object of taxation independently. It can be:

You can change the object from the beginning of next year, but not more than once every 12 months. In the middle of the tax period, the payer does not have the right to change the object.

Provided that the profit for the tax period was less than the amount of expenses, the taxpayer will be required to pay a minimum tax of 1% of the profit received.

If a loss has been recorded, entrepreneurs and LLCs cannot accept it when switching to a simplified regime or another regime. The tax period is one year. Reporting period – quarter, six months, nine months.

Tax must be paid to the tax authority at the location of the enterprise. A report is a declaration that must be submitted by legal entities before March 31, and by individuals with the status of an entrepreneur - by April 30 of the year following the tax period.

Taxpayers using the simplified tax system must keep records of profits and expenses in order to calculate the tax base for taxes in the book of income and expenses of the enterprise using a simplified system.

Companies can submit a notification about the transition to the simplified tax system when registering an LLC or individual entrepreneur (within 5 days), as well as after a year, but no later than December 31. The transition is possible from the beginning of next year.

Loss of rights to use the simplified taxation system occurs in those cases specified in Art. 346.13 Tax Code.

Reporting forms

Under the simplified tax system, an enterprise must prepare the following reports:

Reconciliation with the declaration must be carried out when generating the financial results statement. It is also necessary to make calculations for advances for compulsory insurance in the Pension Fund and reflect information on the profit received (personal income tax).

Accounting statements (according to the law of December 6, 2011 No. 402-FZ):

• balance sheet;
• income statement;
• appendices to financial statements.

Accountants do not use explanatory notes and audit reports in reporting. The form of the accounting report is regulated in accordance with the order of the Ministry of Finance of the Russian Federation dated July 2, 2010 No. 66n.

Companies using the simplified tax system can use a simplified form of balance sheet and income and loss statements.

How to fill out accounting of expenses and income under the simplified tax system, see the article: book of expenses and income under the simplified tax system. Whether transactions reflect income tax under the simplified tax system, read here.

Reports on changes in capital and cash flow issues should be prepared only in cases where it is impossible to assess the financial position without them.

Legal basis

Annual reports are compiled for the period from January 1 to December 31, unless other rules are provided for by legislative acts (Parts 2 – 3 Article 13, Part 1 Article 15 of Law No. 402-FZ).

The prepared document must be submitted to the authorized bodies at the place of registration of the enterprise within 3 months after the expiration of the reporting period (Parts 1 - 2 of Article 18 of Law No. 402-FZ).

The obligation to submit accounting reports to tax authorities is regulated by Art. 23 clause 1 subclause 5 of the Tax Code.

Reporting forms are not recommended, but are required for use by all companies (not counting credit enterprises, government agencies and municipal institutions).

According to paragraph 6 of Order No. 66n, enterprises that are small businesses must prepare accounting reports according to the simplified tax system:

• the balance sheet and financial performance reports must include data on certain types of items;
• in the annex to the balance sheet and financial statements, only those data are indicated without which it is impossible to give a financial assessment of the organization’s position and its work.

Taxpayers retain the right to conduct full accounting. The statement of financial results under the simplified tax system is documentation that must have indicators of profit and costs, which are divided into ordinary and other, and the determination of the indicators by organizations is carried out independently.

Zero balance under simplified tax system

Even if a company does not conduct business activities, it still provides reporting. There can be no balance. Even in the complete absence of activity, the authorized capital of the LLC must be formed and reflected in the form of a balance sheet, therefore, at a minimum, two lines will be filled in - in the liability the line “Capital and reserves”, and in the asset “Cash” or another line, depending on the form in which the authorized capital was contributed by the founders.

The balance sheet for the simplified tax system (form with and without line codes) can be downloaded below.