Income interest on personal income tax posting loan. Loans granted: accounting and reporting
In order not to fall into the financial trap, it is necessary not only to choose a reliable and honest lender, but also to determine how the conditions provided to them will be beneficial for you.
Before concluding an agreement, it will not be superfluous to carefully examine its points and coordinate them with the other party. With the right approach, both parties will benefit from cooperation only. Accounting for a loan agreement requires compliance with and compliance with the accounting conditions.
The concepts
The concepts of “loan” and “credit” are not the same thing. Although they are similar to each other in many aspects, the difference is quite noticeable.
First you need to figure out what constitutes a loan. A loan is a type of transfer of cash or other property from one side (lender) to the other side (borrower).
The loan has such distinctive features.:
- allows you to use it for free;
- at the conclusion of a loan agreement, the parties may be both legal entities and individuals;
- in addition to cash, other things (property, jewelry, etc.) may also be a loan subject.
A loan is a kind of financial transaction in the process of which a transfer of funds to a borrower is made subject to a condition for their repayment. The loan is characterized by:
- mandatory availability of interest and their payment;
- one of the parties to the loan agreement must be a credit institution (for example, a bank);
- a loan involves the transfer of only cash.
Video: Charge
Main types
A loan is a rather broad concept.
There are several features of this type of lending:
- based on the receipt of funds from private owners and legal entities persons is the legal basis;
- withdrawal of interest is optional;
- the object of transfer can be not only cash, but also goods;
- conditions are established in the process of 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 the contract. They are required to adhere to all parties to the contract.
In case of violation of one of the clauses of the contract, the transaction may be terminated. As regards interest payments, this also needs to be worried about beforehand.
Interest free
Everyone who decides to take an interest-free loan should know about taxes. Such loans, unlike others, are seriously controlled by the state.
If for some reason the individual has not repaid the loan, then he must pay personal income tax, which is accrued at the interest rate of 35%.
If an interest-free loan agreement is concluded between an individual and a legal entity, then there is a risk of a tax problem.
What to consider when concluding a contract
A thorough examination of the clauses of the contract is an important condition. It is in the interests of both parties. The parties can agree on the terms of the contract independently.
When studying the contract, special attention must be paid to the following:
- providing;
- goals for which funds are needed;
- loan terms.
The loan term is set based on the terms of the contract, and can reach 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 agreements (more than five years) can be distinguished.
Short-term loans are considered the most expensive of all these. They are often issued by various enterprises. The most unclaimed are long-term loans. They are entitled to issue state-owned banks, which occupy an honorable place in the Russian financial market.
We can distinguish the types of loans by target characteristics:
- target. The purpose for which money is needed is known and described in an accessible way. This may be, for example, the purchase of goods or equipment;
- inappropriate. 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 drawback. These are unprofitable interest, which sometimes can be up to 65% per year.
Tax and accounting
Based on what type of loan is involved in the transaction, you need to correctly record it.
Accounting
When all postings have been made, it is necessary to provide the VAT payer with an invoice marked “Without VAT”. Failure to do so may result in penalties from the relevant authorities.
Interest accounting should be carried out in parts, and not in full after the expiration of the term.
Taxes
The emergence of this type of lending, such as a loan, has greatly facilitated the lives of those who often need certain amounts of money. The only nuance to which you should pay attention is the tax assessment. To avoid possible troubles, you need to consider all points in advance.
If the parties to the contract are individuals, then payment of the loan will not provoke an additional tax burden. With regard to interest-free loans jur. person, then there is a risk of non-operating income. Often it causes conflicts between those who pay taxes and special authorities.
If an interest-free loan was provided by physical. person, then it must pay personal income tax 35%. In the event that funds are necessary for the acquisition of real estate, taxes are refunded by personal income tax.
Basic Rules
There are a number of rules that you should pay special attention to in the accounting process. Here is some of them:
- the debt appears at the end of the use of funds, but not at the time of conclusion of the contract;
- the amount of the selected credit line restriction is subject to accounting, but not the total amount.
You need to pay attention to the ratio of debt to the terms of debt repayment. Often a short-term loan becomes long-term.
When and how to charge interest on a loan
When the lender draws up an interest loan, it is necessary to adhere to the rules for calculating the terms and repayment of interest in accordance with the agreement.
It is important that he also understands when and how to charge interest on the loan.
Based on the clauses of the contract, 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 that is other income is credited to the credit of account 91 “Other expenses and income” every month.
Typical Wiring
For example, in the construction of real estate, interest on a loan is included in their original 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) of the amount of interest paid.
The transaction in this case will look like this: Debit 73 Credit 68 personal income tax. Accrual of interest physical. a person is recorded by Debit 66 Credit 51.
Posting
Based on the requirements of any legislation, including Russian, all financial transactions are subject to mandatory reporting in a formally confirmed written form. If for some reason this is not done, then there is a risk of a tax inspection visiting a particular organization.
Drawing up contract entries in 2018 is not much different from previous years. Accounting entries require special clearance. Most often, all reporting is presented in a table. In the event the company is inspected by the 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 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. Indeed, during the audit, tax inspectors study them in detail.
Postings when calculating interest on the contract are not too complicated. Therefore, the accrual process does not cause special problems.
The legislative framework
All financial transactions related to lending are based on special laws and are regulated by them. In Russia, such a law is the Tax Code of the Russian Federation, which contains articles that explain certain points on tax assessment.
For example, Art. 250 of the Tax Code of the Russian Federation says that accrued interest is considered non-operating income in order to calculate income tax. And article 271 of the Tax Code informs about the inclusion of interest in the lender's income at the end of the month.
In paragraph 1 of Art. 269 \u200b\u200bstates that interest can reduce taxable income if their size does not differ much from the average level of interest on debt obligations.
When becoming a participant in the financial process, it is important to remember and comply with all the rules and requirements. It will be useful to familiarize yourself with Russian legislation, especially with articles that inform directly about the calculation of interest in accounting.
At the same time, not only one side should understand this operation. Awareness of all parties to the transaction will play on both sides only at hand.
Payment of debt requires punctuality. Untimely paid funds can lead to serious consequences. Therefore, before resorting to a loan, make sure that your financial situation does not leave much to be desired.
As for accountants, the calculation of interest will not cause difficulties for a real specialist. They are obliged to understand all the tax intricacies and confidently navigate the Tax Code.
How a loan differs from a loan and how to keep a record of loans and borrowings 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. Our material will discuss how these operations are reflected in the accounting records of each of the parties to the transaction and how the loan differs from the loan.
What is the difference between a loan and a loan?
A loan is cash transferred by a credit institution to a borrower. Moreover, the latter shall pay interest on the use of such borrowed funds.
An important difference between a loan and a loan is that the loan is the borrowed funds of organizations and individuals, expressed in money or their natural equivalent.
Based on these definitions, we can distinguish how a loan differs from a loan:
- only a bank gives out a loan, and individuals, organizations and individual entrepreneurs can provide a loan;
- a loan implies the payment of interest to the creditor for the use of the issued amount; the issuance of loans does not contain such a mandatory condition: they can be interest-free;
- a loan is granted exclusively in cash, a loan - both in money and in the form of a natural equivalent (goods, for example).
What postings does the accounting of credits and loans received contain?
In accounting, there are no special differences between a loan and a loan. So, the rules for accounting loans and borrowings in accounting are described in PBU 15/2008 “Accounting for expenses on loans and credits”.
The costs should include:
- interest on loans and borrowings;
- other related costs: payment of consulting and information services, expert evaluation of a loan or loan agreement, etc.
Interest, according to paragraph 8 of PBU 15/2008, is accounted for in one of the following ways:
- evenly throughout the duration 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 considered evenly throughout the term of the contract.
Accounting for borrowed assets is carried out using the following accounts:
- 66 - under contracts valid for 12 months or less;
- 67 - under contracts valid for more than 12 months.
The accounting procedure for loans and borrowings will be considered with examples.
Example of accounting for a loan
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 accrued from the day after receiving a loan.
In February, the organization will make the following entries:
Dt 51 Kt 67.1 - the loan was received to the account of the organization in the amount of 1,500,000 rubles.
Dt 91.2 Kt 67.2 - interest on the loan was accrued: 1,500,000 / 365 × 26 × 10% \u003d 10,684.93 rubles.
Dt 67.2 Kt 51 - interest payment - 10 684.93 rubles.
Postings in March:
Dt 91.2 Kt 67.2 - interest on the loan was accrued: (1,500,000 - 62,500) / 365 × 31 × 10% \u003d 12,208.90 rubles.
Dt 67.2 Kt 51 - interest payment - 12 208, 90 rubles.
Dt 67.1 Kt 51 - partial repayment of the loan - 62,500 rubles.
This loan, being long-term, will be reflected in line 1410 “Borrowed funds” of the balance sheet for 2018 in the amount recorded on the credit balance of account 67.
If the loan were short-term, it should be reflected on line 1510 “Borrowed funds” of the balance sheet.
Commercial credit and commodity 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 an 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 business entities that keep records in a simplified manner, who are entitled to use account 91.2 for this purpose (paragraph 7 of PBU 15/2008).
How to reflect the issued loans and borrowings?
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. Loan amount - 3,000,000 rubles. The interest rate on the loan is 15% per annum. In accordance with the terms of the contract, 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 - loan issuance - 3,000,000 rubles.
Dt 76 Kt 91.1 - interest is accrued: 3,000,000 / 365 × 30 × 15% \u003d 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 for April was accrued: 3,000,000 / 365 × 30 × 15% \u003d 36,986.30 rubles.
Dt 51 Kt 76 - interest received - 36 986.30 rubles.
May Postings:
Dt 76 Kt 91.1 - interest is accrued: 3,000,000 / 365 × 31 × 15% \u003d 38,219.18 rubles.
Dt 51 Kt 76 - interest was received on the current account - 38,219.18 rubles.
The lender will reflect the loan amount in the balance sheet for 2018 under line 1170 “Financial investments” in the amount of 3,000,000 rubles.
Accounting for interest-free loans issued
Example 3
Consider the conditions of example 2, and assume that the contract provided for the issuance of interest-free loans.
Then the lender's postings will look like this:
Dt 76 Kt 51 - issue of an interest-free loan of 3,000,000 rubles.
The next and last entry in the lender's account will be the transaction 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 the essential condition for recognizing assets as such is not fulfilled: their ability to generate income. At the same time, an interest-bearing loan issued will be considered as such (paragraph 3 of PBU 19/02).
In the accounts of the lender, the issued loan will be reflected in line 1230 “Accounts receivable”. At the same time, the organization can detail in the balance sheet the type of receivables: short-term debt with a term of 12 months or less and long-term debt with a period of more than 12 months.
How to take into account the interest-free loan issued to the employee, read .
What are the features of tax accounting for loans and borrowings?
Received credit or borrowed funds are not income for the purpose of calculating income tax for their recipient by virtue of subp. 10 p. 1 art. 251 of the Tax Code of the Russian Federation. Also, the issued funds are not an expense, subject to the provisions of paragraph 12 of Article 270 Tax Code of the Russian Federation. Similarly, the funds received and paid to repay a loan or a loan are not income and expense.
Moreover, the amount of accrued and paid interest is fully recognized as non-operating expenses in accordance with sub. 2 p. 1 Article 265 of the Tax Code of the Russian Federation. The moment of reflection in the expenses of the amounts of interest is determined in accordance with paragraph 8 of Art. 272 of the Tax Code:
- at the end of each month,
- on the date of repayment of the loan or loan (if they are fully paid).
The amount of interest in the presence of controlled debt is included in non-operating expenses in the amount provided for in art. 269 \u200b\u200bof the Tax Code of the Russian Federation.
Interest received under loan and loan agreements relates to non-operating income (Clause 6, Article 250 of the Tax Code of the Russian Federation).
It should be noted that differences in accounting and tax recognition in the expenses of accrued interest on an investment loan or in the presence of controlled debt cause temporary differences, which are accounted for in accordance with PBU 18/02, “Accounting for Corporate Profit Tax”.
Is repayment of loan interest possible by offsetting?
One of the ways 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 uniform;
- the deadline for meeting the counterclaim has already arrived.
To set off, a statement by one of the parties is sufficient.
The concept of a uniform requirement is not legislatively fixed. According to paragraph 7 of the information letter of the Presidium of the EAC dated December 29, 2001 No. 65, it is indicated that the requirement for set-off may not correspond to obligations of the same type. It follows that obligations related to the execution of various agreements, but with the same repayment method and denominated in the same currency, are recognized as homogeneous.
Example:
Stroymaster received an interest-bearing loan from LLC Alliance in the amount of 20 million rubles. at 15% per annum for a period of 1 year with interest 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 operation, the companies recorded the following transactions:
Alliance LLC acquired an office space from Stroymaster for 3 million rubles. The companies recorded the following entries:
Firm Stroymaster sent an application for offsetting mutual claims in the amount of 2 million rubles.
Counterparty transactions will look like this:
Summary
The accounting of received loans and borrowings is reflected in the accounts: 66 for short-term contracts, 67 for long-term ones, and issued loans are reflected by the lender in accounts: 58 for interest-bearing loans, 76 for interest-free loans. The interest on the loan and the loan are non-operating income for the lender and non-operating expenses for the borrower.
Consider how the accounting of loans at the enterprise. In particular, we will study how to issue a loan to an employee, how interest is accrued on loans issued, what transactions are generated for these operations.
Most of the loan methods are repayable material infusion, where as a rule it is required not only to give the amounts taken for the agreed time, but also to pay the interest accrued under the contract, however, loans can be interest-free. The main differences between loan and loan agreements are presented below:
Today, working citizens can use the help of their enterprises and get a loan or a loan for a certain period. Operations with borrowed finance, in particular the lender and the borrower, are regulated by the regulatory documents of the Russian Federation:
- Civil Code of the Russian Federation, Clause 1, Article 807;
- Civil Code of Russia p. 313;
- Federal Law No. 402 of December 6, 2011 , part 1 of article 9;
- PBU No. 19/02 p. 2;
- PBU No. 1/2008 p. 7.
Directly, these documents explain all the nuances regarding working with loans, their servicing and repayment, and should be reflected in accounting registers for primary documents. So, how do you reflect loan events in postings? There are many features that require attention and professional experience.
Accounting for loan operations
In the current legislative field, there are a lot of options for material assistance that their employers can provide to their employees. The Civil Code is also considering the possibility of providing assistance as employees of the company, but in this case the monthly amount of return cannot be more than 1/5 of the salary. Possible loan and third-party citizens who do not work in the enterprise. A loan can be cash, in kind or commodity. The primary documents for these operations based on FZ-402 are the following documents:
- Personal statement of the borrower;
- Executive order for the warehouse manager;
- Packing list;
- Cash register, cash book.
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How is loan disbursement reflected? By posting account 73/1 for the settlement of loans. In this case, the issuance from the cash desk is reflected in 73/1 and on a credit account. 50 based on a cash warrant. Postings on loans 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. In correspondence on charging fees for using a loan, accounts 73/1 and 91/1, 91/2 and 66.67 are involved.
Bookkeeping should clearly track the time for which the paid refundable assistance is provided to the employee in a timely manner to calculate interest in accordance with the terms of the contract or the approved loan repayment schedule.
Obtaining a loan by an employee is reflected in the cash book on the basis of the CSC and the application of the employee signed by the head, receipt of receipt:
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. The accounts involved accounts 73/1 and 50, 51. For example:
Postings on an interest-free loan from the founder also use accounts 66, 67 and 50, 51, correspondence with the account. 92/2 not applicable.
How is an operation to issue a loan to an employee
In the context of the topic under consideration, such situations are most often encountered.
Forwarder LLC “XXX” N. Ageev 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 then went to the accounting department. After considering Ch. the accountant gave the employee a loan in the amount of 50,000 rubles. on conditions of return in installments from wages.
The director of LLC “XXX” Mukha V.P. made a decision to issue a loan from the founders in the amount of 100,000 rubles. for 6 months under 10%. For the payment of ch. The following documents were received by the accountant - statement by V.P. Mukha, minutes of the meeting of the founders of the LLC. Money was transferred from the account of the company to the payee card of the recipient.
Loan posting table
Transactions with loans issued must be reflected in the postings:
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 | Cash settlement, receipt |
Withheld from employee salary monthly amount under loan agreement | 70 | 73/1 | 4 167, 00 | FFP |
A loan was issued from the founder to the director Mukha V.P. by transfer from r / s | 67 | 51 | 100 000, 00 | Bank statement |
Accrued interest on a posting loan | 91/2 | 66 | 5 000, 00 | Agreement, bang. reference |
Listed part of the loan under the agreement (loan repayment) | 51 | 67 | 18 000, 00 | Statement |
Monthly Interest Listed | 51 | 66 | 834, 00 | Statement |
With a full timely repayment of the loan, the balances on accounts 66, 67, 73/1 are revised, the accounting department draws up a certificate on the absence of borrowers' debt to the enterprise, while the final posting - Dt 99/1 Kt 91/2 is fixed on interest postings.
A loan is a transfer of cash, intangible assets or other property from one person (lender) to another (borrower) subject to the terms of the return specified in the agreement. In borrowing procedures, both legal entities and individuals can act as a creditor.
A loan agreement is a loan agreement concluded between the parties to a transaction that includes mandatory conditions for the lender to provide various assets to the borrower. The borrower may be employees of an enterprise, third-party organizations, or individual entrepreneurs. How is interest calculated on a loan - postings to record such operations will be provided in our article.
As mentioned earlier, borrowed funds can be obtained in various forms:
- cash;
- material - OS, inventory and materials, products, stocks, etc.
The provision of a loan may be free of charge, according to paragraph 1 of Art. 809 of the Civil Code, and paid. A specialized organization establishes a certain rate for the use of the provided assets and calculates interest on a loan agreement, the postings of which are generated by both the lender and the borrower.
Lender accounting
A prerequisite of the loan agreement is to determine the procedure and timing of payment by the borrower of the accrued. The frequency of accrual of such credit dividends is established in the initial loan agreement and can be made monthly, quarterly or in a certain reporting period. We will give below the accrual of interest on a loan received and issued. We will deal sequentially.
Accrual of interest on the loan - postings will depend primarily on the type of activity (paragraph 34 of PBU 19/02) and the legal form of the creditor institution. In the case when the lender is a credit institution or microfinance organization, then, in accordance with the Ministry of Finance Order No. 94n dated 10/31/2000 and PBU 9/99 (clause 12), interest on loans issued (posting) is reflected in 90 accounts of the chart of accounts.
If the non-credit organization accrued interest on the loan, the transaction will be generated on the credit of account 91, in accordance with paragraph 16 of PBU 9/99.
By issuing a loan, the lender makes a certain financial investment, respectively, accounting will be carried out in account 58 “Financial investments”.
Accounting records for non-profit organizations will be as follows:
- Dt 58.3 Kt 51 - a loan was issued to a third-party organization;
- Dt 73.1 Kt 51 - to the employee of the organization.
The following entries are generated by the accountant periodically - quarterly, monthly:
- Dt 58 Kt 91 - accrued interest on the loan issued, posting;
- Dt 51 Kt 58.3 - receipt of interest on the current account. Refunds by the borrower are also reflected in this accounting record.
To maintain correct tax accounting by the lender, when interest is accrued under the 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 (paragraph 6 of article 271 of the Tax Code RF).
Borrower accounting
The recipient of borrowed funds reflects the receipt in its account depending on the purposes for which the loan was intended, as well as its maturity.
Loans are short-term (repayment term - within 1 year) and long-term (term - more than 1 year). Short-term loan is reflected in account 66, long-term - in account 67.
In the case when 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 (paragraph 7, paragraph 9 of PBU 15/2008). For all other situations, payments are recorded in 91 accounts.
Accounting records for the borrower:
- Dt 51 (52) Kt 66, 67 - receipt of credit funds in rubles or in foreign currency;
- Dt 10 (41) Kt 66, 67 - received material values \u200b\u200b(products) in the form of borrowed assets;
- Dt 91.2 Kt 66, 67 - accrued interest on the loan, transactions;
- Dt 66, 67 Kt 51 (52) - interest payment transferred to the creditor;
- Dt 66, 67 Kt 51, 10, 41 - loan repayment.
A loan is received from a bank or from another credit organization on the basis of an agreement. Money is transferred to the bank account or currency account of the company. For their use, interest must be paid. Consider the typical issuing, return and wiring.
Short-term loan interest
Borrowed funds are issued by the bank for up to 12 months. A loan is not a company income and is not taxable. But the interest accrued on the loan can be taken into account in the expenses of the organization.
Loan receipt is recorded by debit and credit. It is from the moment of transferring credit funds to the current account of the organization that an obligation arises to pay them.
The interest on the loan accrue by posting:
- Debit 91.2 Credit 66.
If a bank charges a fee for a loan in the form of a one-time payment in a fixed amount, it is taken into account as other expenses:
- Debit 91.2 Credit 66.
This amount is written off in accordance with the terms of the accounting policy: at a time or in equal shares over the entire loan term.
- 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 | Score CT | Wiring description | Post Amount | Document-base |
66 | Received a loan | 450 000 | Bank statement | |
91.2 | 66 | Interest on short-term loan accrued | 13 500 | Loan agreement Accounting information |
66 | Monthly transfer of interest on a loan | 13 500 | Payment. commission ref. | |
66 | Loan repayment monthly | 112 500 | Payment. commission ref. |
Long-term loan interest
Borrowed funds that are issued for a period of more than a year are called long-term. They are counted on. Getting identical to a short-term loan:
- Debit Credit 67 - receipt of borrowed funds in the current account.
Interest on the use of long-term credit 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 are made out of entries:
- Debit 67 Credit.
Interest on late payment interest shall be charged with the 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, in equal installments. In one of the months for interest payment interest was charged 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 | Score CT | Wiring description | Post Amount | A document base |
67 | Received a loan | 4 250 000 | Bank statement | |
91.2 | 66 | Posting: Credit Interest Accrued | 42 500 | Loan agreement Accounting information Those percent that are subject to rationing (from the average level of debt obligations or from the refinancing rate) can be reflected in accounting and tax accounting differently. Because of this, constant differences arise. Excessive interest should be reflected in debit accounting 99 accounts and credit 68. |