payables in the balance sheet (line 1520) in a unified form of the new sample shows the same kind of commitments as in the former.However, this group is not is detailed as before.However, businesses, based on the characteristics of production, specific activities, still recommended to carry out such a concrete definition.Consider further, as detailed payables are stated in the balance sheet.
Why do it?If
payables in the balance sheet (line 1520) will be shown in detail, it will give a more accurate and complete information on the financial condition of the company for the persons concerned.In addition, this procedure corresponds to PBU 4/99.In particular, n. 11 indicates that the performance of individual assets and liabilities should be presented separately unless they are essential, and without them if it is not possible to assess the financial condition of the company stakeholders.Accounts payable (balance sheet item) can be displayed in one lump sum if he or any other component separately does not really matter for analysis.
Explanation
balance of payables and receivables for specific types of (name) articles now installed and secured in accounting policies.In interpreting Article.1520 can be taken as a basis for the previous drill.So, using the procedure in accordance with which amounts to a former balance sheet, accounts payable can be to:
- contractors and suppliers.
- plant personnel.
- extrabudgetary funds.
- Revenue Service (on fees and taxes).
Articles, which stands for payables in the balance sheet - it p. 15201-15207.
Suppliers and Contractors
For this article shows short-term payables in the balance sheet.It is formed on the last day of the reporting period.As shown such payables in the balance sheet?The accounts will be the following:
- calculation with contractors and suppliers (cq. 60) on the received but not paid-material values, the results of services / works.
- cq.76, the fixing operation with various creditors and debtors.Information on assessed to pay penalties for violations of the terms of contracts now, arrears, which are not considered to MF.60.
important point should be noted that the receivables and payables in the balance sheet is deployed.The latter is in the asset.And the first - accounts payable - in passive balance.That is, they are not netted.That will not do, and if the analytical accounts of the same article appeared and then, and more balance.
Formation commitment
grounds, according to which the image of payables in the balance sheet - it terms of the contract signed between the company and the counterparty.In common cases, the amount of the liability is equal to the contract price derived products, services or works.But in some situations it is formed in a special way.For example, accounts payable can be expressed in units or in foreign currency, there is the provision of commercial loans in the barter transaction, and so on.
procedure for determining the amount of accounts payable is determined in accordance with the rules given in the PBU 10/99.According to the rules, the amount of unsettled obligations for goods, works and services is determined in accordance with the price fixed under a contract, under which they were obtained.It included the excise tax and VAT charged by the contractor / supplier.
example
company becomes party products.Cost of which is installed in the supply contract is 684 400 p., Including VAT 104 400 p.On the balance sheet date the company's liabilities are not settled.In the process of posting the goods should make entries:
dB.19 Cr.60
104 400 p.- Take into account payables (in terms of the amount of tax) and VAT ("input"), brought by the supplier.
dB.41 Cr.60
580 000 p.(684 400 - 104 400) - capitalized products and shows the debt (in terms of st-ti products excluded).
As of the end of the reporting period in the documentation of the enterprise (p. 1520) indicated the amount of 684 400 p.If the cost of production is not established in the contract and is not determined by its terms, the initial parameters, according to which will be determined by the accounts payable in the balance sheet - these are the prices at which the company carries out the calculation of similar goods produced in such circumstances (including the terms of delivery, including the acquisition of values, and so on).
currency and conventional units
When you purchase one or other products, services or works payable is calculated in accordance with the officially fixed rate, which acts at the reporting date.According to the agreement may provide for the calculation in a different order.Since the foreign currency exchange rates that were in effect at the time the products are different from those that will be on the balance sheet date, in accounting will exchange differences.In this regard, the authorized person should carry out recalculation of the amount of liabilities to suppliers.This is done based on the earliest date:
- at the time of reporting;
- at settlement date.
If the rate that existed on the date of shipment of the product is greater than at the time of allocation, in the account formed positive difference.It is made in other income and its value decreases debt.
Commercial loan
According to the sales contract may provide for the provision of installments or deferred payment.Typically, this is a paid service.So, in addition to the cost of the product, the buyer must pay interest on commercial loans.The procedure, according to which is done charging, determined by the parties in the contract.
In the case of a commercial loan is included in accounts payable and cost of production (including VAT), and the amount of interest.Typically, charging is carried out at the time of transfer of ownership of the product.But this rule applies when participants in the transaction may be reliably calculate the amount of interest payable (if, for example, just know the date of payment).
In some cases this is not possible.For example, this situation occurs if the charging is done for each delayed day.At the same time the period during which the obligation is settled, is unknown.According to the FDR, one of the conditions about which the fixed costs (and therefore payable in the balance sheet) - is the ability to accurately determine their amount.In this case, you can do so:
- Show without obligation to the amount of interest on a commercial loan.
- Raise debt at the end of each month, after which the products were not paid on the amount of interest to be repaid.The latter thus taken into account in other expenses.
Repayment
It is carried out after the calculations will be made with the supplier.The Company may transfer funds for the delivered products or to deduct its debt on account of its obligations (if any).The company can pay directly to the supplier himself, and at his request to transfer the money to a third party.The latter should have the appropriate powers.They will follow the letter of the relevant supplier, which is sent to the company.
written off
If the company has not fulfilled its obligations to the supplier, in some cases, debt may be written off.This is possible if the three-year statute of limitations had expired.The period runs from the date of occurrence of the obligation.The law also provides for other reasons.For example:
- death of the lender, if the debt is related to him personally.
- voluntary release of the debtor's creditor.
- impossible to fulfill the obligations for reasons beyond the sides of reasons.
- liquidation creditor.
- Adoption Act state body on which it is impossible to perform the obligation.
overdue accounts payable in the balance sheet is written down on a mandatory basis.If the obligation to remain in the account, it can lead to data corruption.In addition, the tax office may regard it as a cover-up non-operating income of the enterprise with a corresponding reduction in the taxable base.
