Income interest on a personal income tax posting loan. Granted loans: accounting and reporting
In order not to fall into a financial trap, it is necessary not only to choose a reliable and honest lender, but also to determine how beneficial the conditions provided to them will be for you.
Before concluding an agreement, it is not superfluous to carefully study its clauses and agree on them with the other party. With the right approach, both parties will only benefit from cooperation. Accounting for a loan agreement requires compliance with and fulfillment of the conditions of accounting.
Concepts
The terms “loan” and “credit” are not the same. Although they are similar in many respects, the difference is quite noticeable.
First you need to understand what a loan is. A loan is a type of transfer Money or other property from one party (lender) to another party (borrower).
The loan has such distinctive features:
- allows you to use it for free;
- when concluding a loan agreement, the parties can be both legal entities and individuals;
- other things (property, jewelry, etc.) can be the subject of a loan in addition to cash.
A loan is a kind of financial transaction, during which money is transferred to the borrower under the obligatory condition of their return. The loan is characterized by:
- obligatory availability of interest and their payment;
- one of their sides loan agreement any credit organization (for example, a bank) must act;
- A loan involves the transfer of money only.
Video: Accrual
Main types
Loan is a pretty broad term.
There are several features of this type of loan:
- based on receiving funds from private traders and legal entities. persons lies the legislative basis;
- withdrawal of interest is optional;
- the object of transfer can be not only money, but also goods;
- conditions are established by agreement of both parties.
If the contract is concluded with the organization, then it must be in writing. All conditions must be clarified before concluding a contract. They must be adhered to by all parties to the contract.
In case of violation of one of the clauses of the contract, the transaction may be terminated. As for the payment of interest, this also needs to be taken care of in advance.
Interest-free
Anyone who decides to take out an interest-free loan should be aware of taxes. Such loans, unlike others, are seriously controlled by the state.
If for some reason an individual has not repaid the loan, then he must pay personal income tax, which is charged at an interest rate of 35%.
If the agreement on interest-free loan lies between the physical and legal entity, then there is a risk of a tax problem.
What to consider when entering into a contract
Careful study of the clauses of the contract is important condition. This is in the interests of both parties. The parties are free to negotiate the terms of the agreement.
When reading a contract, pay particular attention to the following::
- provision;
- the purposes for which the funds are needed;
- loan terms.
The term of the loan is set based on the terms of the contract, and can range from several hours to several years. Among them, short-term (for a period of one year), medium-term (from 1 year to 5 years) and long-term contracts (more than five years) can be distinguished.
Short-term loans are considered the most expensive of all. They are often issued by various enterprises. The most unclaimed are long-term loans. They are entitled to issue state banks, which occupy an honorable place in the Russian financial market.
It is possible to distinguish types of loans according to target characteristics:
- target. The purpose for which the money is needed is known and clearly described. This may be, for example, the purchase of goods or equipment;
- non-targeted. Unlike targeted loans, these loans are more popular. They are much easier to draw up due to the minimum number of documents.
Non-targeted loans have one significant disadvantage. This is unfavorable interest, which can sometimes be up to 65% per year.
Tax and accounting
Based on what type of loan appears in the transaction process, you need to properly account for it.
Accounting
When all postings are completed, it is necessary to provide the VAT payer with an invoice marked "Without VAT". Failure to comply with this condition may result in penalties from the relevant authorities.
Accounting for interest should be carried out in parts, and not entirely after the expiration of the term.
taxes
The emergence of such a type of lending as a loan has greatly facilitated the life of those who often need certain amounts of money. The only nuance to which you should pay attention is the calculation of taxes. To avoid possible troubles, you need to take into account all the points in advance.
If the parties to the agreement individuals, then the payment of the loan will not provoke an additional tax burden. Concerning interest-free loans legal person, there is a risk of non-operating income. Often it becomes the cause of conflicts between those who pay taxes and special bodies.
If an interest-free loan was provided by a physical person, then he must pay personal income tax of 35%. In the event that funds are needed to purchase real estate, then taxes are reimbursed by personal income tax.
Fundamental rules
There are a number of rules that you should pay special attention to in the accounting process. Here are some of them:
- the debt appears at the end of the use of funds, but not at the time of the conclusion of the contract;
- the amount of the selected credit line limit is taken into account, but not the total amount.
You also need to pay attention to the ratio of debt to the terms of debt repayment. Often a short-term loan becomes a long-term one.
When and how to calculate interest on a loan
When the lender draws up an interest-bearing loan, it is necessary to adhere to the rules for calculating the terms and repayment of interest according to the agreement.
It is important that he also understands in what cases and how to calculate interest on a loan.
Based on the clauses of the agreement, the lender has the right to recognize accrued interest as:
- income from ordinary activities;
- other income.
If the loan is an object of activity of an enterprise, then interest is income from ordinary activities.
Interest, which is other income, is credited to account 91 "Other expenses and income" every month.
Typical wiring
For example, in the construction of real estate, interest on the loan is included in their initial cost.
From an individual
An individual must withhold personal income tax in the amount of 13% (if he is a resident) and 35% (if he is a non-resident) from the amount of interest paid.
Posting in this case will look like this: Debit 73 Credit 68 personal income tax. Interest accrual the person is recorded Debit 66 Credit 51.
Drawing up postings
Based on the requirements of any legislation, including Russian, all financial operations are subject to mandatory reporting in a written, officially confirmed form. If for some reason this is not done, then there is a threat of visits to a particular organization by the tax inspectorate.
Drawing up contract entries in 2018 is not much different from previous years. accounting entries require special design. Most often, all reporting is presented in a table. In the event of a company check tax service special attention is paid to the contract.
This is due to the fact that contracts are often not real, which in turn contributes to the emergence of corruption. Therefore, for security purposes and to prevent fraud, it is important to carefully study all the clauses of the contract. In addition to the contract, attention should be paid to other documents. After all, when checking, tax inspectors study them in detail.
Postings when calculating interest under the contract are not too intricate. Therefore, the accrual process does not cause any special problems.
The legislative framework
All financial transactions related to lending are based on special laws and are regulated by them. In Russia, this law is Tax code RF, in which there are articles that explain certain points on the calculation of taxes.
For example, Art. 250 of the Tax Code of the Russian Federation says that accrued interest is considered non-operating income for income tax purposes. And article 271 of the Tax Code of the Russian Federation informs about the inclusion of interest in the income of the lender at the end of the month.
In paragraph 1 of Art. 269 states that interest can reduce taxable income if the amount does not differ significantly from the average level of interest on debt obligations.
Becoming a Member financial process It is important to remember and follow all the rules and requirements. It will be useful to know Russian legislation, especially with articles that inform directly about the calculation of interest in accounting.
At the same time, not only one party should understand this operation. The awareness of all participants in the transaction will only play into the hands of both parties.
Paying a debt requires punctuality. Late payment of funds can lead to serious consequences. Therefore, before applying for a loan, make sure that your financial position leaves nothing to be desired.
As for accountants, the calculation of interest will not cause difficulties for a real specialist. They are required to understand all the subtleties of taxation and confidently navigate the Tax Code.
How a loan differs from a loan and how to keep records of loans and loans in accounting - this primarily depends on who asks these questions - the lender or the borrower. It is this condition that determines which accounts will be applied. How these operations are reflected in the accounting of each of the parties to the transaction and how a loan differs from a loan will be discussed in our material.
How is a loan different from a loan?
A loan is money transferred by a credit institution to a borrower. In this case, the latter pays interest for the use of such borrowed funds.
An important difference between a loan and a loan is that a loan is the attracted funds of organizations and individuals, expressed in money or their natural equivalent.
Given these definitions, we can distinguish how a loan differs from a loan:
- a loan is issued only by a bank, and a loan can be provided by individuals, organizations and individual entrepreneurs;
- a loan implies the payment of interest to the lender for the use of the issued amount, the issuance of loans does not contain such a mandatory condition: they can also be interest-free;
- a loan is issued exclusively in cash, a loan - both in cash and in the form of a natural equivalent (goods, for example).
What postings contains accounting for loans and borrowings received?
In accounting, there are no special differences between a loan and a loan. Thus, the rules for accounting for loans and borrowings in accounting are described in PBU 15/2008 “Accounting for expenses on loans and credits”.
The expenses should include:
- interest on loans and borrowings;
- other related expenses: consulting and information services, expert evaluation of the agreement on the issuance of a loan or loan, etc.
Interest, in accordance with paragraph 8 of PBU 15/2008, is accounted for in one of the following ways:
- evenly throughout the term of the contract,
- in the manner prescribed by the terms of the contract, if this does not violate the uniformity of their accounting.
Other expenses related to loans and borrowings should be accounted for evenly throughout the term of the contract.
Accounting for borrowed assets is carried out using the following accounts:
- 66 - under contracts with a validity period of 12 months or less;
- 67 - under contracts valid for more than 12 months.
We will consider the accounting procedure for loans and borrowings received with examples.
An example of accounting for a loan received
Example 1
The organization received a loan on February 2 in the amount of 1,500,000 rubles. Interest rate- 10%. The term of the loan agreement is 24 months. The amount of the monthly payment is 62,500 rubles. The agreement with the bank provides for the payment of interest and repayment of the loan amount on a monthly basis on the last day of each month. Interest is calculated from the next day after receiving the loan.
In February, the organization will make the following entries:
Dt 51 Kt 67.1 - a loan was received to the organization's current account in the amount of 1,500,000 rubles.
Dt 91.2 Kt 67.2 - interest accrued on the loan: 1,500,000 / 365 × 26 × 10% = 10,684.93 rubles.
Dt 67.2 Kt 51 - payment of interest - 10,684.93 rubles.
Postings in March:
Dt 91.2 Kt 67.2 - interest accrued on the loan: (1,500,000 - 62,500) / 365 × 31 × 10% = 12,208.90 rubles.
Dt 67.2 Kt 51 - payment of interest - 12,208.90 rubles.
Dt 67.1 Kt 51 — partial repayment loan - 62,500 rubles.
This loan, being a long-term one, will be reflected in line 1410 "Borrowed funds" balance sheet for 2018 in the amount recorded in the credit balance of account 67.
If the loan were short-term, it should have been reflected in line 1510 "Borrowed funds" of the balance sheet.
Commercial credit and trade bills are shown on the lines:
- 1450 "Other liabilities" (for long-term debt);
- 1520 " Accounts payable» (for short-term debt).
It should be noted that if the funds were received for the purpose of acquiring, constructing or manufacturing investment asset, interest must be reflected using account 08 “Investments in non-current assets” (Dt 08 Kt 66.2 / 67.2). An exception to this rule is made for economic entities that keep records in a simplified way, which are entitled to use account 91.2 for these purposes (clause 7 PBU 15/2008).
How to reflect the issued credits and loans in accounting?
Accounting for loans issued is regulated by PBU 19/02 "Accounting for financial investments".
To reflect loans in accounting, the lender uses account 58 “Financial investments”.
Example 2
The organization issued a loan on March 1 for a period of 1 year. The loan amount is 3,000,000 rubles. The interest rate on the loan is 15% per annum. In accordance with the terms of the agreement, the borrower pays interest for each day of using the loan at the end of each month. Interest begins to accrue from the day following the day the loan is issued. The Agreement does not provide for partial repayment of the loan amount on a monthly basis.
In October, the lender reflected:
Dt 58 Kt 51 - issuance of a loan - 3,000,000 rubles.
Dt 76 Kt 91.1 - interest accrued: 3,000,000 / 365 × 30 × 15% = 36,986.30 rubles.
Dt 51 Kt 76 - interest received from the borrower - 36,986.30 rubles.
Postings in April:
Dt 76 Kt 91.1 - interest accrued for April: 3,000,000 / 365 × 30 × 15% = 36,986.30 rubles.
Dt 51 Kt 76 - interest received - 36,986.30 rubles.
Postings in May:
Dt 76 Kt 91.1 - interest accrued: 3,000,000 / 365 × 31 × 15% = 38,219.18 rubles.
Dt 51 Kt 76 - interest received on the current account - 38,219.18 rubles.
The lender will reflect the loan amount in the balance sheet for 2018 in line 1170 “Financial investments” in the amount of 3,000,000 rubles.
Accounting for interest-free loans issued
Example 3
Consider the conditions from example 2, while we assume that the agreement provided for the issuance of an interest-free loan.
Then the transactions at the lender will look like this:
Dt 76 Kt 51 - issuance of an interest-free loan of 3,000,000 rubles.
The next and last entry in the lender's accounting will be the posting Dt 51 Kt 76 (it will appear on the day the loan is repaid).
IMPORTANT! Loans issued on interest-free terms are not financial investments for the lender company (paragraph 2 of PBU 19/02), since an essential condition for recognizing assets as such is not met: their ability to generate income. At the same time, an issued loan providing for interest will be considered as such (paragraph 3 of PBU 19/02).
In the statements of the lender, the loan issued will be reflected in line 1230 “Accounts receivable”. At the same time, the organization can detail in the balance sheet the type accounts receivable: short-term debt with a term of 12 months or less and long-term debt with a term of more than 12 months.
How to account for an interest-free loan issued to an employee, read .
What are the features of tax accounting for credits and loans?
Received credit or borrowed funds are not income for the purpose of calculating income tax for their recipient by virtue of the norms of subpara. 10 p. 1 art. 251 of the Tax Code of the Russian Federation. Also, the funds issued are not an expense, taking into account the provisions of paragraph 12 of Art. 270 of the Tax Code of the Russian Federation. Similarly, funds received and paid in repayment of a loan or loan are not considered income and expenses.
At the same time, the amounts of accrued and paid interest are fully recognized non-operating expenses in accordance with sub. 2 p. 1 art. 265 of the Tax Code of the Russian Federation. The moment of reflection in expenses of the amounts of interest is determined in accordance with paragraph 8 of Art. 272 of the Tax Code of the Russian Federation:
- at the end of each month,
- on the date of repayment of the loan or loan (if they are fully repaid).
Interest amount, if any controlled debt included in non-operating expenses in the amount provided for in Art. 269 of the Tax Code of the Russian Federation.
Interest received under credit and loan agreements is classified as non-operating income (clause 6, article 250 of the Tax Code of the Russian Federation).
It should be noted that the differences in accounting and tax recognition in expenses of accrued interest amounts at investment loan or in the presence of controlled debt, cause temporary differences to be accounted for in accordance with RAS 18/02 “Accounting for corporate income tax settlements”.
Is it possible to repay interest on a loan by mutual offset?
One of the methods of mutual settlements when repaying interest under a loan agreement, counterparties have the right to choose the offset of mutual claims. Set-off of requirements is possible subject to 3 conditions (Article 410 of the Civil Code of the Russian Federation):
- the lender and the borrower have counterclaims to each other;
- the requirements of both companies are homogeneous;
- The deadline for the counterclaim has already passed.
To set off, a statement by one of the parties is sufficient.
The concept of a homogeneous requirement is not legally fixed. According to paragraph 7 of the information letter of the Presidium of the Supreme Arbitration Court of December 29, 2001 No. 65, it is indicated that the requirement for set-off may not correspond to obligations of one type. From this it follows that obligations related to the performance of various contracts, but with the same method of repayment and denominated in the same currency, are recognized as homogeneous.
Example:
The Stroymaster company received an interest-bearing loan from Alliance LLC in the amount of 20 million rubles. at 15% per annum for a period of 1 year with interest paid at the end of the loan period. That is, Stroimaster is obliged to return 20 million rubles. principal debt and 3 million rubles. percent (20 million rubles * 10%).
For this transaction, the companies recorded the following entries in accounting:
Alliance LLC purchased an office space from the Stroymaster company for 3 million rubles. The companies recorded in the accounting records:
The Stroymaster firm sent an application for offsetting mutual claims in the amount of 2 million rubles.
Counterparty transactions will look like this:
Results
Accounting for received credits and loans is reflected in the accounts: 66 - for short-term contracts, 67 - for long-term, and loans issued are reflected by the lender in the accounts: 58 - for interest-bearing loans, 76 - for interest-free loans. Loan and loan interest is non-operating income for the lender and non-operating expenses for the borrower.
Consider how the accounting of loans in the enterprise. In particular, we will study how to issue a loan to an employee, how interest is calculated on loans issued, what transactions are generated for these operations.
Most loan methods are a returnable material injection, where, as a rule, it is required not only to repay the amounts taken for a specified time, but also to pay the interest accrued under the agreement, however, loans can also be interest-free. The main differences between loan and loan agreements are presented below:
Working citizens today can use the help of their enterprises and receive a loan or a loan for a certain period. Operations with loan finance, in particular, the lender and the borrower are regulated normative documents RF:
- Civil Code of the Russian Federation, clause 1, article 807;
- Civil Code of Russia p.313;
- Federal Law No. 402 06.12.2011 , part 1, article 9;
- PBU No. 19/02 p. 2;
- RAS No. 1/2008 p.7.
These documents directly explain all the nuances regarding working with loans, their servicing and repayment and should be reflected in the accounting registers for primary documents. So, how do you record borrowing events in the transactions? There are a lot of features that require attention and professional experience.
Accounting for loan transactions
In the modern legislative field, a lot of options for financial assistance are being considered, which employers can provide to their employees. The GC is also considering the possibility of providing assistance as employees of the company, but in this case monthly amount return cannot be more than 1/5 wages. A loan is also possible for third-party citizens who do not work at the enterprise. The loan may be in cash, in kind or in kind. The primary documents for these operations on the basis of FZ-402 are the following documents:
- Personal statement of the borrower;
- Order of the head for the warehouse manager;
- Packing list;
- RKO, cash book.
Get 267 1C video lessons for free:
How is a loan processed? By posting account 73/1 for settlements on the provision of loans. In this case, the issuance from the cash desk is reflected in 73/1 and on the loan account. 50 based cash warrant. Loan entries from the founders operate with accounts 66, 67 and 50 or 51 in the case of working with a bank account.
A separate important issue is the reflection of the accrual and transfer (payment) of interest on the loan. Accounts 73/1 and 91/1, 91/2 and 66.67 participate in the correspondence on the accrual of fees for the use of the loan.
The accounting department must clearly track the time for which the returnable paid assistance is provided to the employee in a timely manner to accrue interest in accordance with the terms of the agreement or the approved loan repayment schedule.
The receipt of a loan by an employee is reflected in cash book on the basis of the RKO and the application of the employee, signed by the head, a receipt for receipt of:
If the loan is issued to the head, then the original minutes of the meeting of the founders of the company are also added to the primary documents. Accounts 73/1 and 50, 51 are involved in the posting. For example:
Transactions for interest free loan accounts 66, 67 and 50, 51 are also used from the founder, correspondence with account. 92/2 does not apply.
How is an employee loan transaction processed?
In the context of the topic under consideration, such situations are most often encountered.
Forwarder LLC "XXX" Ageev N. submitted an application for a loan to pay for tuition at a university under a contract in the amount of 50,000 rubles. for a period of 1 year. The manager signed an application for an interest-free loan, which was then submitted to the accounting department. After reviewing Chap. an accountant issued a loan to an employee in the amount of 50,000 rubles. on the terms of a refund in installments from wages.
It was decided to issue a loan from the founders in the amount of 100,000 rubles to the director of XXX LLC Mukha V.P. for 6 months under 10%. For the payment of the accountant received the following documents - a statement by Mukha V.P., minutes of the meeting of the founders of the LLC. The money was transferred from the company's bank account to salary card recipient.
Table of transactions for loans issued
Transactions with issued loans should be reflected in the following entries:
Content | Dt | ct | Amount, rub. | Document |
An interest-free loan was issued to an employee from the cash desk | 73/1 | 50 | 50 000, 00 | RKO, receipt |
Monthly amount deducted from the salary of the employee under the loan agreement | 70 | 73/1 | 4 167, 00 | PKO |
A loan was issued from the founder to director Mukha V.P. | 67 | 51 | 100 000, 00 | bank statement |
Interest accrued on a loan transaction | 91/2 | 66 | 5 000, 00 | Contract, book. reference |
Part of the loan under the agreement was transferred (repayment of the loan) | 51 | 67 | 18 000, 00 | Extract |
Monthly interest listed | 51 | 66 | 834, 00 | Extract |
With a full timely repayment of the loan, an audit of the balances on accounts 66, 67, 73/1 is carried out, the accounting department draws up a certificate on the absence of debts of borrowers to the enterprise, while the final entry - Dt 99/1 Kt 91/2 is recorded on percentage entries.
A loan is a transfer of money intangible assets or other property by one person (lender) to another (borrower) with the terms of return specified in the agreement. When borrowing procedures, both legal entities and individuals can act as a creditor.
The loan agreement is loan agreement, concluded between the parties to the transaction, which includes mandatory conditions for the provision by the lender of various assets to the borrower. The borrower may be employees of the enterprise, third parties or individual entrepreneurs. How interest is calculated on a loan - accounting entries for such transactions will be provided in our article.
As mentioned earlier, borrowed funds can be obtained in various forms:
- monetary;
- material - fixed assets, goods and materials, products, stocks, etc.
The provision of a loan can be both free of charge, in accordance with paragraph 1 of Art. 809 of the Civil Code of the Russian Federation, and paid. A specialized organization sets a certain tariff for the use of the provided assets and calculates interest under the loan agreement, the entries for which are formed both with the lender and the borrower.
Lender accounting
A prerequisite for a loan agreement is to determine the procedure and terms for paying the accrued by the borrower. The frequency of such credit dividends is established in the original loan agreement and may be monthly, quarterly or at a specified date. reporting period. The postings on the accrual of interest on the loan received and issued are given below. Let's deal with it sequentially.
Accrual of interest on a loan - the entries will depend, first of all, on the type of activity (paragraph 34 of PBU 19/02) and the legal form of the creditor institution. In the event that the lender is credit institution or a microfinance organization, then, in accordance with the Order of the Ministry of Finance No. 94n dated October 31, 2000 and PBU 9/99 (clause 12), interest on loans issued (postings) is reflected in account 90 of the chart of accounts.
If an organization that is not a credit institution has accrued interest on a loan, the entry will be formed on the credit of account 91, in accordance with paragraph 16 of PBU 9/99.
By issuing a loan, the lender performs a certain financial investment, respectively, accounting will be kept on account 58 "Financial investments".
The accounting entries for non-profit organizations would be as follows:
- Dt 58.3 Kt 51 - a loan was issued to a third-party organization;
- Dt 73.1 Kt 51 - to an employee of the organization.
The following records are formed by the accountant periodically - quarterly, monthly:
- Dt 58 Kt 91 - accrued interest on the loan issued, postings;
- Dt 51 Kt 58.3 - receipt of interest on the current account. The return of funds by the borrower is also reflected in this accounting entry.
To maintain correct tax accounting by the lender, when interest is accrued under a loan agreement, entries are generated periodically, and the interest amounts themselves are recognized as income at the end of each reporting period in the event that the agreement is valid for more than one quarter (clause 6 of article 271 of the Tax Code of the Russian Federation).
Borrower's accounting
Recipient borrowed money reflects the receipt in its accounting, depending on the purpose for which the loan was intended, as well as its maturity.
Loans are short-term (maturity - within 1 year) and long-term (term - more than 1 year). A short-term loan is reflected in account 66, a long-term loan is reflected in account 67.
In the event that the purpose of lending is the construction or acquisition of investments, interest payments under the terms of the agreement may be included in the cost of acquired investment objects (clause 7, clause 9 PBU 15/2008). For all other situations, payments are recorded in 91 accounts.
Accounting records for the borrower:
- Dt 51 (52) Kt 66, 67 - admission loan funds in rubles or in foreign currency;
- Dt 10 (41) Kt 66, 67 - received material values(products) in the form of borrowed assets;
- Dt 91.2 Kt 66, 67 - accrued interest on the loan, postings;
- Dt 66, 67 Kt 51 (52) — interest payment transferred to the creditor;
- Dt 66, 67 Kt 51, 10, 41 - loan repayment.
Getting a loan from a bank or other credit institution takes place on the basis of a contract. The money is transferred to the settlement or currency account of the company. Interest must be paid for their use. Consider typical wiring on issuance, return and .
Interest on a short-term loan
Loan funds are issued by the bank for up to 12 months. The loan is not company income and is not subject to taxation. But the interest accrued on the loan can be taken into account in the expenses of the organization.
The receipt of a loan is reflected in the entry for debit and credit. It is from the moment of transferring credit funds to the settlement account of the organization that an obligation arises to pay them.
Interest on the loan is calculated by posting:
- Debit 91.2 Credit 66.
If the bank charges a fee for granting a loan in the form of a single payment in a fixed amount, it is taken into account as other expenses:
- Debit 91.2 Credit 66.
This amount is debited in accordance with the terms accounting policy: at a time or in equal installments during the entire term of the loan.
- Debit 91.2 Credit 76 (66).
The organization received a short-term loan in the amount of 450,000 rubles. Interest rate 9% per annum. The term is 4 months.
Postings on receipt and interest on the loan:
Account Dt | Account Kt | Wiring Description | Posting amount | Document- base |
66 | Loan received | 450 000 | bank statement | |
91.2 | 66 | Interest accrued on a short-term loan | 13 500 | Loan agreement Accounting information |
66 | Monthly transfer of interest on the loan | 13 500 | Payment. order ref. | |
66 | Monthly loan repayment | 112 500 | Payment. order ref. |
Interest on a long-term loan
Borrowed funds that are issued for a period of more than a year are called long-term. They are taken into account. Obtaining is identical to a short-term loan:
- Debit Credit 67- receipt of borrowed funds to the settlement account.
Interest for using a long-term loan is recorded as:
- Debit 91.2 Credit 67 "Interest on the loan."
The payment of interest on the loan and the amount of the principal debt is made out by records:
- Debit 67 Credit.
Penalties on interest for late payment are calculated by posting:
- Debit 91.2 Credit 76.
The organization received a long-term loan for 5 years in the amount of 4,250,000 rubles. The rate is 12% per annum. Loan repayment - monthly, equal payments. In one of the months for the payment of interest, penalties were accrued for late payment in the amount of 1,749.30 rubles.
Postings on accrued interest and obtaining a loan from a legal entity:
Account Dt | Account Kt | Wiring Description | Posting amount | A document base |
67 | Loan received | 4 250 000 | bank statement | |
91.2 | 66 | Posting: interest accrued on the loan | 42 500 | Loan agreement Accounting reference Those interest that are subject to rationing (from the average level of debt obligations or from the refinancing rate) may be reflected differently in accounting and tax accounting. Because of this, there permanent differences. Excess interest must be reflected in the accounting for Debit 99 of the account and credit 68. |
- The main characteristics of Venezuela: territory, population, natural resources, industrial potential
- Personal account Konga - online loan service Kongo zaim personal account
- British pound sterling - history of currency, banknotes and coins
- What currency do you need in Italy: important information for tourists