The question is what is a balance sheet, excites many people who are not directly related to accounting. Of course, you can or the well-known Internet encyclopedia, but the knowledge stored there is provided in a rather confusing form. In this article, you can find a simple and accessible answer to every reader's question.
So, the balance sheet is one of the most common forms of documentation in accounting. This is the document that is found in every enterprise, regardless of the type of its activity and other parameters.
In simple terms, o-s statement is a document reflecting the status of various accounts on the first day of the month, quarter, year. It also reflects the balance of the account as of the end of the previous accounting period, and income and expenditure for this period. O-with statement is monthly, quarterly and annual - consolidated.
Turnover balance sheet, an example of a form.
It is rightly said that the o-s statement is one of the main documents in accounting. In fact, all transactions made with the funds of a company or institution are entered in this document. Of course, such an important document cannot be drawn up in an arbitrary order. To compile the o-s statements, the all-Russian accounting provisions are used, as well as the accounting policy established in the organization or region.
The balance sheet is created during the creation (registration) of the enterprise, and at this moment it is zero - that is, empty, without turnovers on the accounts.
- The amount of the authorized capital after the registration of the enterprise is reflected in two documents: the debit of accounts 75 and 80.
- The authorized capital of the enterprise is formed from these resources - money, fixed assets and goods and materials.
- The funds contributed to the o-c statement are recorded under a variety of categories, such as materials (debit 10 of the accounting account), goods (41 accounts), funds (01) and intangible assets (04).
- Since all transactions are reflected in both debit and credit, any, even a slight discrepancy between the data indicates that an error was made somewhere in the statement.
So, summing up, we can say that the o-s statement shows the balance of funds on all accounts and calculations of the enterprise, loan turnover and for the required period. Also, the balance sheet is the main document for filling out many tax documents - such as the annual financial report, which includes forms: the balance sheet of the institution, changes
Turnover balance (turnover) statement- an accounting register designed to control transactions and accounting accounts and prepare financial statements.
In accounting slang, a balance sheet is called a "turnover".
What information does a balance sheet contain?
The balance sheet contains the balance (balances) at the beginning and at the end of the period and the debit and credit turnover for the given period for each accounting account (subaccount) used by the company.
How is the balance sheet formed
The balance sheet, as a rule, is automatically generated by the used accounting automation program based on the operations entered into the program (postings on accounting accounts).
How is a balance sheet drawn up?
The form of the balance sheet is established by each company independently and approved by the appendix to the accounting policy for accounting purposes (clause 5, article 10 of the Law "On Accounting"; clause 4 PBU 1/2008).
The balance sheet form must contain the following details (clause 4, article 10 of the Law "On Accounting"):
1) name - "Turnover balance sheet";
2) the name of the company that compiled the balance sheet;
3) the period for which the balance sheet was drawn up;
4) direct accounting data, which are reflected in the balance sheet;
5) the value of the monetary measurement of accounting objects, indicating the unit of measurement;
6) the names of the positions of persons responsible for maintaining the balance sheet;
7) signatures of persons responsible for maintaining the balance sheet, indicating their surnames and initials or other details necessary to identify these persons.
The balance sheet is compiled on paper and (or) in the form of an electronic document signed with an electronic signature in the manner and terms established by the accounting policy for accounting purposes (clause 6, article 10 of the Law "On Accounting").
Corrections in the balance sheet must contain the dates of corrections, as well as the signatures of the persons responsible for maintaining this register, indicating their surnames and initials or other details necessary to identify these persons (clause 8, article 10 of the Law "On Accounting" ).
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Turnover balance sheet: details for an accountant
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The key to successful business is the excess of income over expenses. In accounting, all transactions are recorded in the balance sheet. However, some entrepreneurs do not pay enough attention to tracking their debts, and this is a necessary condition for daily detection of errors and inaccuracies. The easiest way to check mutual settlements is to analyze the balance sheets for settlement accounts with suppliers and buyers.
The purchase of all acquired values, materials for production and goods for resale creates a connection with counterparties - sellers. When drawing up contracts, it is necessary to take into account the procedure for settlements under executed agreements. Usually, mutual settlements for the transfer of funds can occur in the following order:
- Advance payments for goods and materials.
- Postpayment (indicate the period during which funds for the goods must be transferred).
Score 60
This account is used to summarize all transactions between an organization and its suppliers and contractors, such as:
- receipt of materials, goods or works;
- consumption of services, including data on used electricity, gas, water, etc.;
- payment for goods, works, services.
All deliveries are displayed regardless of whether they have been paid for or not.
Attention! Account 60 is active-passive, that is, at the beginning and end of the analyzed time, both debit and credit balances can be displayed.
A more illustrative form of assessing interaction with suppliers for a period is the preparation of a turnover balance sheet.
Turnover - balance sheet for settlements with suppliers and contractors
Its formation is one of the key elements that make it possible to control the document flow at the enterprise for further reporting to the tax authorities
Statement structure
In general terms, it is represented by the following figure:
Turnover balance sheet for account 60
The first column contains the name of all sellers. Opening balance allows you to see debts and advances transferred earlier. The debit balance indicates the money transfers made, for which there was no delivery of materials or documents were not provided to the accounting department on time; for a loan - the sum of all received inventory items, the purchase of which was not paid.
During the period, current mutual settlements arise. Similarly, the balance in the turnover on the debit includes all payments, on the loan - receipts. The duration of the analysis time is chosen arbitrarily (from operations on one specific day to any arbitrarily chosen interval). The closing balance indicates any unresolved issues with deliveries and allows you to clearly track the workflow and payments.
Advice! When conducting accounting in specialized software products, one can consider not only the general form of calculations, but also statements separately for paid advances and purchases.
Fill example
The organization purchased a new computer for 20,000 rubles. Under the terms of the agreement, payment can be made in installments of 5,000 rubles per month. In accounting, these actions are reflected in the following entries:
- Dt10 Kt 60 - 20000 received a computer from the supplier
- D60 Kt51 - 5000 transferred the first payment on the computer
Based on the results of checking mutual settlements, we see that the organization's debt to the counterparty is 15,000 rubles at the end of the period. It is necessary to track debt data so that the selling companies are interested in working with the company.
Errors that occur
In the era of active development of technology, the manual method of drawing accounts is practically not used anywhere, but various software products are widespread, the leaders of which are 1C developments. They can form accounting registers in order to better analyze the status of all payments and receipts.
The advantage of using the balance sheet in 1C for control is the ability to analyze not only the general sheet, but also consider separately paid advances (60.02) and the resulting debt for goods received, works, services (60.01). In addition, from the statement, you can go to the analysis of the account specifically for transactions with this counterparty and, in case of questions, immediately see the presence or absence of documents.
There are situations when the same amount enters the turnover on 60.01 and 60.02 and does not overlap. This may be due primarily to a violation of the sequence of documents. If the re-conducting did not change the situation, then attention should be paid to the possible linking of payments and receipts to various contracts or accounts.
How to generate a balance sheet for account 60 in 1C can be seen in the video:
Settlements with buyers and customers
Buyers and customers for any organization - the key to receiving revenue. To expand their business and search for potential customers in a highly competitive market, sellers often resort not only to all sorts of discounts and promotions, but also to deferred payments. This is where the need for daily checks of mutual settlements arises. All transactions with buyers are recorded on account 62.
Attention! Account 62 is also active-passive, that is, at the beginning and end of the selected period of time, both debit and credit balances can be displayed.
Account 62
All settlements with buyers and customers are formed on this account, namely:
- sold products of own production;
- goods sold;
- services rendered;
- receiving advances against future deliveries;
- payment from buyers.
For a detailed consideration of settlements with buyers, a turnover balance sheet can also be used.
Turnover - balance sheet for settlements with buyers
Allows you to summarize data for all customers to identify debts. As in the settlement with suppliers, the balance sheet of 62 accounts makes it possible to analyze the indicators for the period in the context.
Structure
The debit balance at the beginning and end of the period indicates the unfulfilled terms of the agreement, that is, the obligations under the contract to the buyers were fulfilled, however, payment was not received. The credit balance indicates the presence of unshipped goods. Turnovers registering transactions during the selected time: for debit - shipment, for credit - incoming payments.
Allows you to get information about the status of settlements with buyers of goods and other customers for the performance of work, the receipt of services. For a detailed reflection of the data, it is necessary to consider the balance sheet (SWS) for account 62 in the context of each counterparty.
62 account in accounting
Information about financial interaction with buyers in the organization is reflected in account 62 “Settlements with buyers and customers”. As such, legal entities and entrepreneurs who have entered into an agreement with the organization for the purchase of products or services can act.
Considering that prepayments, advance payments, offsets may be present in the calculations, account 62 is active - passive. The debit balance on account 62 indicates the presence of buyers' debts. If the balance is credit, then this means receiving an advance payment without shipping the goods.
The total amount of the balance on account 62 shows the final state of settlements with all customers, therefore, in order to reveal a more detailed picture, it is advisable to keep records of debts for all customers. In addition, modern data automation allows you to make calculations in accordance with each concluded contract. These 62 accounts must correspond to the generated acts of reconciliation with counterparties.
When goods are shipped and payment is received, account 62 generates the following entries:
- Dt 62.01 - Kt 90, 91 - sale of goods;
- Dt 50, 51 - Kt 62.01 - payment for the goods (service) under the contract was received;
- Dt 50, 51 - Kt 62.02 - receipt of an advance payment;
- Dt 62.02 - Kt 62.01 - offset of advance payments after shipment of goods.
In settlements, bills can be used that secure buyers' debts with or without interest payments. The wiring will be as follows:
- Dt 62.03 - Kt 62.01 - receipt of a bill as payment;
- Dt 51 - Kt 62.03 - repayment of a bill upon payment.
Analysis of the account allows you to obtain data on the state of debt, that is, whether there are overdue obligations. At the same time, reserve amounts for possible delays in payment are formed using the entry Dt 91.02 - Kt 63.
The carrying amount of buyers' debts is formed minus the reserve. If it is not possible to recover existing debts that have expired, they must be written off:
- Dt 63 - Kt 62 - the reserved amount of debt was written off;
- Dt 91.2 - Kt 62 - overdue and outstanding debts are charged to financial results.
Turnover balance sheet for account 62
The balance sheet for account 62 can be generated both in general form and separately for each buyer, depending on the requirements of the organization.
Accounting requirements oblige to reflect the final results in the balance sheet. The resulting credit balance is included in the liability balance, which reflects the obligations of the organization. If OSV 62 of the account shows that the balances at the end of the period are of a debit nature, the data is entered in the active part.
At the same time, it is worth remembering that it is necessary to periodically generate postings between sub-accounts of the account. 62, otherwise the data may get into the balance in a distorted form. This applies to cases where accounts payable arise due to advance payments received.
The balance of account 62 cannot be negative. The debt is either credit or debit in nature and is formed in the relevant sections of the balance sheet. The presence of a negative "red" balance indicates an error in automated accounting.
As a rule, in such situations, there are no operations for offsetting advance payments after the shipment. To eliminate the error, it is recommended to view the SALT data on account 62, to carry out the posting of documents in accordance with their sequence.
Analysis of the results of the generated invoice 62 allows you to see the status of settlements with each buyer, reveals the presence of overdue debt, provides the facts of the buyer's prepayment. The final results on the balance sheet of 62 accounts affect the formation of the active and passive parts of the balance sheet, depending on the results obtained.
Example of OSV on account 62
At the beginning of 2017, the debt owed to the organization LLC Apelsin amounted to 19,280 rubles. During the period under review, payment was made to the account of Leto LLC for the goods delivered earlier:
Dt 51 - Kt 62 - 19,280 rubles.
LLC Neva previously transferred an advance payment for the goods in the amount of 246,000 rubles, which is reflected in the initial credit balance. Then, during the period, another 785,000 rubles were credited to the account of Leto LLC. The amount of shipped goods is 744,000 rubles. The wiring is as follows:
Dt 62 - Kt 90 - 744,000 rubles - the goods were shipped.
Dt 62.02 - Kt 62.01 - 246,000 - advance payments were offset.
Dt 51 - Kt 62 - payment received from the buyer.
OOO "Summer"
Turnover balance sheet on account 62 for the 1st half of 2017
Balance at the beginning of the period
Period transactions
balance at the end of period
Counterparties
LLC "Orange"
OOO "Neva"
Total
226 720,00
744 000,00
804 280,00
287 000,00
Regular reporting on the financial activities of your own enterprise to the tax authorities is mandatory. Any errors and incorrectly indicated indicators can lead to blocking of accounts and penalties, which means a violation of the planned business. Therefore, special attention is paid to the correctness of document management and filling out accounting reports. One of the important documents is the balance sheet (SWS), showing the change in the main parameters of the enterprise's activities for the reporting period. Anyone who needs a balance sheet can download a blank form for free from various Internet portals in the form of an Excel or Word document. However, it is better to take advantage of the capabilities of 1C software, which greatly simplifies data entry and the required calculations.
The main goals and purpose of the OSV:
- Analysis of the economic and financial activities of a firm or enterprise, allowing you to adjust decisions on production management.
- Control of double entries reflected in the debit of one account and the same amount in the credit of another.
- Allows you to identify inaccuracies and errors.
- Provides an opportunity to control the correctness of the distribution of monetary amounts on the accounted accounts.
Important! When using 1C software, the analysis of the required account can be carried out automatically.
According to Russian legislation, the balance sheet is not included in the list of regulatory legal acts. But in fact, this document is common for reporting to the tax authorities. The basis for the application of reporting is Art. 10 Federal Law No. 402.
The document provides for the following positions:
- The data recorded in the primary documentation are recorded with subsequent accumulation in accounting registers.
- Within the register, accounting objects and values of monetary changes for each parameter are grouped.
- Forms and types of registers for private firms are approved by the state, and for government agencies - budgetary legal acts.
OSV is used as a primary document, being an accounting register. A significant advantage of the document is the visibility of the data during the verification. By comparing the numbers and indicators, any controlling person can immediately detect inaccuracies and errors during posting.
Download a blank balance sheet form for free or use your own version?
To date, there is no mandatory SALT form to fill out. Each organization, depending on the type of activity, can create its own form. In addition, you can download a clean one for free from the Internet in this form, followed by its completion.
But in any case, the document must contain some mandatory parameters. It is possible to analyze monthly, quarterly or yearly changes. OSV always shows the state of the account at the beginning of the reporting period. The document also records the remaining funds at the end of the month, their income and expenditure. OSV is an important accounting document, which is mandatory provided to the tax authorities. The initial moment of settlements is the registration of the company. At this moment there are no turnovers on the accounts.
According to the Order of the Federal Tax Service of the Russian Federation No. ММВ-7-15/184, the taxpayer must provide a balance sheet for monitoring. The analysis can be carried out according to different, chess, synthetic, depending on the production needs. With the correct preparation of the document, the debit and credit will match in pairs. If there is a discrepancy in the data, you will have to double-check everything.
Mandatory information included in the OSV:
- Company name;
- document's name;
- reporting period;
- accounts for which the statement is drawn up;
- profit, expense, amounts of transactions;
- an indication of the responsible persons who fill out the statement;
- signatures of leaders.
The document can be drawn up by the accounting department in paper form and in electronic form, certified by an electronic signature. When making adjustments, the dates and responsible persons responsible for the correctness of the document must be indicated.
In the completed form, the OSV looks like this:
Even if in some month there was no movement of funds on any account, the document is still filled out.
The balance sheet is mandatory for reporting to the tax authorities. Despite the fact that the form can be downloaded from the Internet, each company has its own characteristics that are reflected in certain invoices. Therefore, it is not forbidden to submit a document in any form, the main thing is that the parameters and values \u200b\u200bof debit and credit coincide for the period under review.