Accounting account 51. Accounting for cash flow operations on the current account and other accounts
In this article we will analyze how the accounting of cash transactions (cash) and non-cash funds is conducted in the enterprise, and for this we consider two accounts: 50 Cashier and 51 Current account. The first is for cash accounting, the second is for cashless accounting. Postings on cash transactions and on the movement of non-cash money you will find below.
Cash accounting in account 50 - “Cashier”
The account 50 is intended for the accounting of cash flows, that is, for the accounting of cash transactions. Debit 50 is intended to reflect cash receipts, credit 50 - to reflect cash disposals.
Documentation of cash transactions
All receipts and payments of cash should be reflected in the cash book of the registered form, its maintenance is mandatory for each organization. All entries in the cash book are made on the basis of primary documents: incoming and outgoing cash warrant. Capitalization of cash to the cash desk is made out by a cash register order in the unified form KO-1, cash withdrawal from the cash desk is made out by a cash account order form KO-2.
Analysis of account 50 shows that account 50 is active, designed to reflect assets (cash), its balance is always debit. An increase in an asset is recognized in debit, a decrease in loan.
Cash transactions must necessarily be used, with the exception of certain types of activities for which strict reporting forms can be used; for more details, see.
For each organization, a cash balance limit is set, that is, the amount of cash that can remain at the cash desk at the end of the day, the amount in excess of the limit is required to be sent to the bank at the end of each business day. When transferring cash to the bank, a cover sheet for the bag is issued. The excess cash amount can be left only for the payment of wages and benefits, but not more than five business days, including the day the bank issued the money.
The cash desk can store not only cash, but also monetary documents (paid tickets, tickets).
Cash transactions are governed by certain regulatory documents that need to be studied for the proper accounting of cash and proper cash management.
Regulatory documents of cash transactions: (click to expand)
- The Regulation “On the Procedure for Cash Operations with Banknotes and Coins of the Bank of Russia on the Territory of the Russian Federation” approved by the Bank of Russia on 12.10.2011 No. 373P is the main document governing cash transactions.
- Regulation on the use of KKM No. 745 1993 (as amended on 08.08.2003)
- Bank of Russia Ordinance No. 1843-U, dated June 20, 2007, “On the Limit Amount of Cash Payments Between Legal Entities”. At the moment, the maximum amount of cash payments between legal entities is limited to 100 thousand rubles.
Video lesson. Account 50 “Cashier”: sub-accounts, postings, examples
In this video tutorial, the site’s expert, chief accountant Natalya Vasilyevna Gandeva explains account 50, “Cashier”, typical accounting entries and sub-accounts are considered. To view, click on the video below.
You can download the slides and presentation here.
50 Postings
Debit | Credit | Operation Name |
50 | 51 | Withdraw money from current account |
50 | 62 | Receiving payment from the buyer in cash at the cash desk |
50 | 75 | Contribution to the charter capital by the founder in cash |
60 | 50 | Cash payment to supplier |
70 | 50 | Paying employees |
The indicated accounting entries for the accounting of cash transactions are the most common typical options; a complete list of transactions can be found in the Chart of Accounts ().
Accounting for non-cash funds in account 51 - “Settlement account”
All non-cash payments can be made with a current account. It opens in a credit institution, otherwise called a bank. How to open a current account and what documents you must provide, read at.
To account for the movement of non-cash funds of the organization, 51 accounts are intended.
Is he active or passive?
Analysis of account 51 proves that it is active, it records the assets of the enterprise (non-cash money), it always has a debit balance. The debit 51 of the account is intended to reflect the receipt of non-cash funds (increase in the asset), for the credit of the account 51 - write-off of non-cash money (decrease in the asset).
Currently, organizations are allowed to have multiple checking accounts. The accounting account 51 () can be divided into several analytical ones, each of which will keep records for each individual settlement account of the enterprise.
The primary document confirming the fact of debiting and receipt of non-cash funds is an extract from the bank, which contains information on all received and debited amounts from the account of the organization.
Money is written off on the basis of a payment order, which is drawn up in 2 copies and is referred to the bank; on one of the copies, a bank note is placed that the order has been accepted and is returned. When depositing money from the cash desk to the bank account, a cash contribution announcement is issued.
Video lesson. Account 51 in accounting: postings, examples
In this video tutorial, account 51 is detailed. The key transactions and practical examples of reflecting operations are considered.
Typical postings to account 51
Debit | Credit | Operation Name |
51 | 62 | Payment or advance payment received from the buyer |
51 | 50 | Cash deposit to the bank from the cash desk of the enterprise |
<51 | 75 | Contribution to the authorized capital by cashless funds |
51 | 66 (67) | Getting a short-term (long-term) loan |
60 | 51 | Payment to the supplier by bank transfer |
50 | 51 | Withdraw funds |
75 | 51 | Payment of dividends by bank transfer |
66 (67) | 51 | Repayment of a loan (loan) |
Summarize:
An organization for mutual settlements can use both cash and non-cash. To account for the former, a cash desk is used, for accounting for the latter, a current account. Each cash accounting operation is compulsorily executed by primary documents, and the corresponding transaction is reflected in accounting.
Shortly about account 51 in infographics
The figure below shows all the key information about the account 51 and its postings in the infographic.
All standard postings to account 51 “Current account”
The synthetic accounting of operations in the current account is carried out by the company’s accounting on active account 51 “Current account”.
Account 51 "Current account"
To account for operations reflected on account 51 “Current Account”, special registers are kept in the accounting department: journal-order No. 2 and statement No. 2.
All entries in these registers are kept on the basis of bank statements from the current account and documents attached to them received from other enterprises, on the basis of which funds were written off or credited, as well as documents written out by the company.
Bank statement is a copy of the personal account of the company opened by the bank. It reflects the cash flow in the current account of the company.
The statement indicates:
customer account number;
the date of the previous statement and its outgoing balance (it is also the incoming balance for the subsequent statement); - numbers of documents on the basis of which funds were credited or debited;
the corresponding account code of the accounting department of the bank, which encoded the financial operations of the enterprise;
debit and credit amounts;
balance of funds available on the date of discharge.
An extract with the application of supporting documents is transmitted to the enterprise daily or at other specified times.
Preserving the funds of the enterprise, the bank considers itself to be its debtor (accounts payable of the bank), therefore:
debit reflects expenditures for the bank, that is, a decrease in its debt (write-offs, cash withdrawals);
loan - incoming operations for the bank, that is, income to the account of the company.
The accountant of the enterprise, processing statements should keep this in mind and write down the amounts received and the balance on the debit of the account, and write-offs on the loan.
The extract from the current account of the company encoded financial transactions executed by banking documents:
Operation Conventions | ||
on debit of current account |
current account loan |
|
Written off according to your order |
Credited according to the attached copy of the payment order |
|
Payment requirements paid |
Credited by paid payment requirements |
|
Paid in cash your check |
Received in cash |
|
Paid your check |
Received according to your registry of settlement checks |
|
Charged for issued letters of credit or special invoices according to your application |
The balance of the unused letter of credit or special account is credited |
|
Written off according to the annexes to the account statement |
Charged according to the annexes to the account statement |
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Charged to repay a loan |
Loan amount credited as per your application |
|
A limited book is issued according to your application |
Unused balance of the limited checkbook amount is credited |
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The regulation of special loan accounts and accounts for settlement documents in transit |
||
Charged interest on received loans |
All documents attached to the statement are quenched with the stamp “Redeemed”. On the fields of the verified statement against the transaction amounts and in the documents are entered the codes of the accounts corresponding to account 51, and the documents also indicate the serial number of his record in the statement.
In order journal No. 2, turnovers for credit of account 51 are reflected, turnovers for debit of an account are recorded in different order books, and are controlled by statement No. 2. Grouping of amounts to reflect the necessary results in order-book and statement is carried out by counting the corresponding data in statements or documents attached to them, according to the accounting markings given in them.
In the order book and in the statement sheet, entries are made on the offsetting accounts with the results of one bank statement. The condition for filling in the registers is the use of one line for each statement, regardless of how long it is drawn up. The number of occupied lines of the journal-order No. 2 and statement No. 2 for each month should be the same and equal to the number of bank statements received for this period.
The remaining balance in the bank account is shown in the statement only at the beginning and end of the month. Throughout the month, for operational purposes, data on fund balances shown in bank statements are used.
The total turnovers and balances of the order journal and statements are transferred at the end of the month to the General Ledger to account 51.
MAGAZINE ORDER № 02
loan account 51 "Current account" in the debit of accounts
Bank statement date | |||||||||||
STATEMENT No. 2
on the debit of account No. 51 "Settlement account" from the credit of accounts
Balance at the beginning of the month, rub. |
|||||||||||
Bank statement date | |||||||||||
Balance at the end of the month, rub. |
The table shows the diagrams of some possible operations with the current account and the accounts corresponding to it for these operations.
Primary document |
Offsetting accounts |
||
Amounts credited to the current account |
|||
Payment order (to us) |
Received money from buyers, including advances for the supply of goods | ||
Bank transfer order |
Cash from the cash desk was handed over to the bank (proceeds from the sale, deposit amounts, etc.) | ||
Payment order (to us) |
Cash received on the way | ||
Payment order (to us) |
Short-term loans and borrowings received | ||
Payment order (to us) |
Long-term loans and borrowings received | ||
Payment order (to us) |
The amount of contributions to the charter capital from the founders | ||
Payment order (to us) |
Amounts received for claims complained (previously presented) | ||
Payment order (to us) |
The amount of insurance claims received from insurance companies | ||
Payment order (to us) |
Amounts of satisfied claims received (previously filed) | ||
Payment order (to us) |
Received cash on account of the profit received from the performance of the simple partnership agreement (entry from the participant in the simple partnership agreement) | ||
Payment order (to us) |
Received cash on account of the profit due under a trust management agreement (entry from the founder of the department) | ||
Payment order (to us) |
Reflected income received on account of future periods (payment for utilities, communication services, etc.) | ||
Cash outflow from current account |
|||
Bank check |
Received cash from a bank account (to pay salaries, pensions, benefits, bonuses, etc.) | ||
Payment order |
Reflected the crediting of funds to letters of credit and special accounts, deposited funds when issuing checkbooks, etc. | ||
Payment order (from us) |
Reflected cash loans to other organizations | ||
Payment order (from us) |
Payment of accepted bills, payment requirements of suppliers | ||
Payment order (from us) |
Short-term loans and borrowings repaid | ||
Payment order (from us) |
Long-term loans and borrowings repaid | ||
Payment order (from us) |
Transfer to the budget payments of taxes and fees | ||
Payment order (from us) |
Social Insurance Contributions Listed | ||
Payment order (from us) |
Transfer to different organizations and individuals |
" |
Account Specifications 51
Account 51 of accounting is included in Section V “Cash” of the Plan of accounts of accounting, approved by order of the Ministry of Finance of the Russian Federation No. 94n dated October 31, 2000.
The main characteristic of account 51 is that it is a synthetic active accounting account, which reflects all operations that occur on the ruble settlement accounts of the organization. The accountant reflects the cash flow on the debit of the account, the expense on the loan. The primary documents that allow him to do this are a bank statement with documents attached to it. An application may be, for example, a payment or collection order, check, etc. The balance of account 51 is the balance of money in the organization’s bank account. The analysis of account 51 is carried out for each current account opened by the company in credit organizations.
Account 51 corresponds to many accounting accounts intended to reflect cash flow transactions. For example, this:
- account 60 - for settlements with suppliers;
- account 62 - for settlements with customers;
- 70 - for settlements with employees;
- 71 - for settlements with accountable persons and so on.
If there was an erroneous transfer or debiting of funds to the organization’s bank account, then if this fact is detected, the erroneous amount must be reflected in correspondence with account 76 (sub-account “Claims settlements”). A full list of offsetting accounts is given in Order No. 94n.
Non-profit and small enterprises can apply simplified accounting. They can significantly enlarge the breakdown of accounts and, accordingly, not use many of them. However, this does not apply to account 51. He will be present in the accounting of any enterprise.
Account Analysis 51
Account analysis 51, like other accounting reports, can be done for any length of time. A report consists of several columns.
The first column shows the accounting accounts with which account 51 corresponded. In the second, the funds received in the current account for the selected period in accordance with the accounting accounts for which the accountant posted the amounts. The third column is similar to the second - only for debited cash. The top line shows the balance, that is, the cash balance at the beginning of the selected period, the bottom - at the end of the period.
Do not know your rights?
This report is convenient if you need to summarize to learn about the movement of funds in the account of the organization and its source. For example, that the money came from the counterparty, but it does not matter from whom exactly. Or that the money spent on taxes, but on which specifically, it is not necessary to know at the moment.
Account analysis is presented in the figure.
Sample invoice card 51
The account card gives complete information about the cash flow in account 51. Here, similar to the analysis of the account, there is an opening and closing balance for the period and turnover for the period.
In the report you can see the date of the operation on the current account and the essence of the operation - income or expense. The numbers of the corresponding accounts, the amounts of operations and the account balance after each of them are indicated. You can also get an idea of \u200b\u200bwhat kind of operation was performed. It was a transfer of tax, payment for the services of a bank or receipts from a buyer. In the case of operations with counterparties, the name of the counterparties and the numbers of accounts or contracts on the basis of which the cash flow was made are easily read in the account card.
A sample account card 51 is shown in the figure.
51 balance sheet
The essence of the report lies in its name: it displays the opening and closing balances and turnover on the account for the selected period of time. The report is generalized in nature and provides information only on account balances 51 and the total amount of funds received and disposed of from the current account. If the organization has several current accounts, each of them will be highlighted in a separate balance sheet in the balance sheet. That is, the number of lines in the balance sheet is equal to the number of settlement accounts of the organization. The income and expense for each of them, respectively, will be indicated on a separate line. But the turnover for all current accounts can be seen in total in the bottom line.
What the balance sheet for account 51 looks like can be seen in our figure.
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Account 51 is one of the most commonly used accounting accounts, therefore it is important for every accountant to be able to correctly compose postings in correspondence with him. Moreover, it is very easy to use, being an active account, and accounting reports on it give a large share of information about the movement of finances in the enterprise.
To reflect the income and expenditure of funds on the current accounts of the company, in accounting use account 51 "Settlement accounts". Consider the features of working with him and analyze typical accounting entries.
How is account 51 used in accounting?
Account 51 is active. The increase in the account is displayed on debit, and the decrease on credit. For example: if the proceeds of sale are credited to the company’s account, then debit postings to account 51 will be involved, and if services, raw materials or debts to contractors are paid from the current account, postings of account 51 are executed on credit.
The account balance is debit. It shows the cash balance that belongs to the company at the reporting date. Since monetary resources are assets of the enterprise, the final balance of the account is reflected in the asset of the balance sheet, in particular, in line 1250.
The main document confirming the status of the account is a bank statement.
The balance of account 51 cannot be negative. If the company does not have money, then the balance is zero, if there is, then the balance is greater than zero. If the bank has provided an overdraft, then it should be reflected as accounts payable, but not as a surplus.
Analytics and subaccounts
Account 51 is used for synthetic accounting, that is, for the presentation of generalized information about the enterprise. Analytics is carried out in the context of each open current account. This can be an account of a branch, branch, etc. A company may also have several current accounts (legally permitted).
Based on the characteristics of the accounting policies of the enterprise, additional sub-accounts can be opened to account 51. Accounting for them is conducted only in national currency - in rubles. To account for cash in foreign currency is used.
Documentary record of account 51
Each transaction leading to a change in the balance is subject to documenting. Reporting forms confirming cash flows are presented below:
- bank statements - confirm receipts;
- payment orders - confirm the write-off as a payment of debts to suppliers, customers, partners.
Accounting account 51 is carried out in the framework of various software products using:
- account cards showing the opening and closing balances, credit and debit turnover in correspondence with various accounts;
- containing more detailed and detailed information. The frequency of its compilation in each organization is different. A mandatory requirement is to form a statement at least once a month.
At large enterprises with large turnover of monetary resources, as well as the presence of branches and structural divisions, the balance sheet is recommended to be generated daily.
Typical postings to account 51
Account 51 can correspond with other accounts, depending on what needs to be reflected - crediting money or writing them off. Consider how the transactions for business transactions are formed in both cases.
the name of the operation | Debit | Credit |
---|---|---|
Admission | ||
Credited money from the cashier of the enterprise | ||
Credited partial payment from the buyer | ||
A short-term loan was received from the bank with a repayment term of 6 months | ||
Tax refund received from state due to overpaid amounts | ||
Founders formed authorized capital | ||
Reflected received cash allocated to deferred income | ||
Write-off | ||
To pay the accountable person funds for household needs, money was withdrawn from the current account and credited to the cash desk | ||
Payment was made on account of the delivered materials from the supplier | ||
Short-term loan liability repaid with accrued interest | ||
Salary paid to employees |
If a mistake was made as a result of reflecting a business transaction - the wrong amount was credited or an incorrect payment was written off - then the amounts revealed during the audit should be reflected on account 76 “Settlements with different debtors and creditors”.
And having an independent balance.
The current account stores free cash in the currency of the Russian Federation. Settlement accounts are also used to make settlements with the budget, suppliers, customers and others. The issuance and transfer of funds from this account is carried out by the bank, as a rule, on the basis of the order of the account holder (organization) or with his consent (acceptance). However, in some cases, the bank writes off the amounts from the current account without the consent of its owner.
Payments from the current account are made in the order of their calendar priority. Operations on the current account are made out by the following documents. A cash contribution announcement is issued upon depositing money from the cash desk into the current account. Cash checkserves as an order for the organization to the bank to issue the amount of cash indicated in the check from the current account. A settlement check is used to transfer funds from the payer's settlement account to the recipient's settlement account. A payment order also serves the same purpose. A payment request, unlike a check and a payment order, is written out by the recipient of the funds (supplier). It is intended for payments for products, work and services.
The organization periodically receives from the bank account statementcontaining operations performed, turnovers and balances. Monetary and settlement documents are attached to the statement, on the basis of which transactions were made in the current account. On the basis of extracts, entries are made in settlement accounts.
Analytical accounting for 51 "Settlement accounts" should be maintained for each current account.
The synthetic accounting of operations on settlement accounts is carried out by the accounting department of the organization on active account 51 "Settlement accounts". The credit turnover of these accounts is recorded on the basis of the bank statements in order journal No. 2, and the debit turnover in statement No. 2. Amounts with the corresponding offsetting accounts of each statement are added up and recorded in the journal order and statement according to the results. The debit balance of account 51 means the availability of funds in the current account at the beginning of the month, the debit turnover is an increase, i.e., the receipt of funds, and for a loan, a decrease, i.e., write-off of funds.
The debit of account 51 "Settlement accounts" reflects the following main operations:
1. Cash withdrawal to bank accounts:- credit account 50 "Cashier".
- the debit of account 51 "Settlement accounts",
- credit of account 62 "Settlements with buyers and customers",
- credit account 90-1 "Revenue".
- the debit of account 51 "Settlement accounts",
- the debit of account 51 "Settlement accounts",
- credit of account 66 "Settlements on short-term loans and borrowings",
loan account 67 "Settlements for long-term loans and borrowings."
- debit of account 51 "Current account",
- credit of account 55 "Special bank accounts".
- the debit of account 51 "Settlement accounts",
- credit account 91-1 "Other income".
- the debit of account 51 "Settlement accounts",
- credit of account 76 "Settlements with various debtors and creditors".
- the debit of account 51 "Settlement accounts",
- credit account 76-2 "Settlement of claims."
The following main operations are recorded on the loan of the active account 51 "Settlement accounts":
1. Received cash to the cashier from the current account:- debit of account 50 "Cashier",
- debit of account 60 "Settlements with suppliers and contractors",
- credit of account 51 "Settlement accounts".
- debit of account 68 "Calculations on taxes and fees",
- credit of account 51 "Settlement accounts".
- the debit of account 91-2 "other expenses",
- credit of account 51 "Settlement accounts".
- credit of account 51 "Settlement accounts".
- debit of account 66 "Settlements on short-term loans and borrowings",
- debit of account 67 "Calculations on long-term loans and borrowings",
- credit of account 51 "Settlement accounts".
- debit of account 69 "Calculations for social insurance and security",
- credit of account 51 "Settlement accounts".
- the debit of account 58 "Financial investments",
- credit of account 51 "Settlement accounts".
- debit of account 76 "Settlements with various debtors and creditors",
- credit of account 51 "Settlement accounts".
In addition to settlement accounts, organizations may have other accounts with banks: 52 "Currency accounts", 55 "Special accounts with banks".
All these accounts. The accounting of operations on them is similar to the accounting of operations on settlement accounts. Analytical accounting of account 52 “Currency accounts” must be kept for each account opened for storing funds in foreign currency. And on account 55, it is necessary to ensure the receipt of data on cash flows in letters of credit, deposits, checks, etc.
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