Account 51. Accounting for cash flow operations on the current account and other accounts
In this article, we will analyze how accounting is conducted. cash transactions(cash) and non-cash Money at the enterprise, and for this we will consider two accounts: 50 Cash and 51 Settlement account. The first one is for cash accounting, the second one is for non-cash money accounting. You will find postings on cash transactions and on the movement of non-cash money below.
Accounting for cash on account 50 - "Cashier"
Account 50 is designed to record the movement of cash, that is, to record cash transactions. Debit 50 is intended to reflect the receipt of cash, credit 50 - to reflect the disposal of cash.
Documentation of cash transactions
All receipts and payments of cash must be reflected in the cash book of the authorized sample, 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 order. The posting of cash to the cash desk is issued by the credit cash warrant unified form KO-1, write-off of cash from the cash desk - form KO-2 by cash order.
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 recorded as a debit, a decrease as a credit.
Cash transactions necessarily involve the use of, with the exception of some activities for which forms can be used strict accountability, read more about this in.
For each organization, a cash balance limit is set, that is, the amount of cash that can remain in the cash desk at the end of the day, the amount in excess of the limit is given to without fail to the bank at the end of each business day. When transferring cash to the bank, it is issued bill of lading to the bag. Overlimit cash can only be kept for payouts wages and benefits, but not more than five working days, including the day the money is issued by the bank.
The cash desk can store not only cash, but also money documents(paid tickets, vouchers).
Conducting cash transactions is regulated by certain normative documents that need to be studied for the competent accounting of cash and proper management cash desks.
Regulatory documents of cash transactions: (click to expand)
- Regulation “On the procedure for conducting cash transactions with banknotes and coins of the Bank of Russia in the territory Russian Federation”, approved by the Bank of Russia on October 12, 2011 No. 373P - this is the main document regulating cash transactions.
- Regulation on the application of KKM No. 745 of 1993 (as amended on 08.08.2003)
- Instruction of the Bank of Russia No. 1843-U dated June 20, 2007 “On the maximum amount of cash settlements between legal entities". Nowadays limit value cash settlements between legal entities is limited to 100 thousand rubles.
Video lesson. Accounting account 50 “Cashier”: sub-accounts, postings, examples
In this video tutorial, the site expert, Chief Accountant Natalya Vasilievna Gandeva explains the accounting account 50 “Cashier”, are considered typical wiring accounting and sub-accounts. Click on the video below to watch.
You can download the slides and presentation here.
Postings on account 50
Debit | Credit | Operation name |
50 | 51 | Withdrawing money from a checking account |
50 | 62 | Receiving payment from the buyer in cash at the checkout |
50 | 75 | Making a contribution to authorized capital founder in cash |
60 | 50 | Payment to the supplier in cash |
70 | 50 | Payment of wages to employees |
Specified accounting entries accounting for cash transactions - these are the most common typical options, full list You will find postings in the Chart of Accounts ().
Accounting for non-cash funds to account 51 - “Settlement account”
Everything non-cash payments can be done with a checking account. It opens in credit institution otherwise known as a bank. How to open a current account and what documents you need to provide, read in.
To account for the movement of non-cash funds of the organization, 51 accounts are intended accounting.
Is he active or passive?
An analysis of account 51 proves that it is active, it keeps records of the assets of the enterprise (non-cash money), it always has a debit balance. The debit of account 51 is intended to reflect the receipt of non-cash funds (increase in the asset), on the credit of account 51 - the write-off of non-cash money (decrease in the asset).
Organizations are currently allowed to have multiple checking accounts. Accounting account 51 () can be divided into several analytical ones, on each of which records will be kept 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 organization's current account.
The funds are debited on the basis of a payment order, which is drawn up in 2 copies and referred to the bank, one of the copies is marked by the bank that the order has been accepted and returned back. When depositing money from the cash desk to the current account, an announcement is made for a cash deposit.
Video lesson. Account 51 in accounting: postings, examples
In this video lesson, account 51 of accounting is disclosed in detail. Key postings and practical examples for recording transactions are considered.
Typical postings on account 51
Debit | Credit | Operation name |
51 | 62 | Receipt of payment or advance 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 non-cash means |
51 | 66 (67) | Obtaining a short-term (long-term) loan |
60 | 51 | Payment to the supplier by bank transfer |
50 | 51 | Withdrawing money from the account |
75 | 51 | Payment of dividends by bank transfer |
66 (67) | 51 | Repayment of a loan (loan) |
Summarize:
The organization for mutual settlements can use both cash and non-cash. To account for the former, a cash register is used, for the latter, a current account is used. Each cash accounting operation is mandatory drawn up in primary documents, and the corresponding entry is reflected in accounting.
Briefly about count 51 in infographics
The figure below shows all the key information about account 51 and its transactions in an infographic.
All typical postings on account 51 “Settlement account”
Synthetic accounting of operations on the settlement account is kept by the accounting department of the enterprise on the active account 51 “Settlement account”.
Account 51 "Settlement account"
To account for transactions reflected on account 51 “Settlement account”, special registers are maintained in the accounting department: journal-order No. 2 and statement No. 2.
All entries in these registers are made on the basis of bank statements from the current account and attached documents received from other enterprises, on the basis of which funds were debited or credited, as well as documents issued by the enterprise.
An extract from the current account is a copy of the personal account of the enterprise opened by the bank. It reflects the movement of funds in the current account of the enterprise.
The statement states:
client's current 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 bank's accounting department, which encodes the financial transactions of the enterprise;
debit and credit amounts;
balance of available funds on the date of issue.
An extract with the attachment of supporting documents is transmitted to the enterprise daily or at other specified times.
Keeping the funds of the enterprise, the bank considers itself to be its debtor (accounts payable of the bank), therefore:
the debit reflects debit transactions for the bank, that is, a decrease in its debt (write-offs, cash withdrawals);
on credit - credit transactions for the bank, that is, receipts to the current account of the enterprise.
The accountant of the enterprise, when processing statements, must remember this and record the amounts received and the balance on the debit of the account, and write-offs on the loan.
In the extract from the current account of the enterprise, financial transactions are encoded, executed by bank documents:
Conventional codes for operations | ||
on the debit of the current account |
on current account credit |
|
Written off according to your instructions |
Credited according to the attached copy of the payment order |
|
Payment requests paid |
Credited on paid payment claims |
|
Cash paid your check |
Received in cash |
|
Your check has been paid |
Received according to your register of settlement checks |
|
Written off for issued letters of credit or special invoices according to your statement |
The balance of an unused letter of credit or special account has been credited |
|
Written off according to the annexes to the extract from the personal account |
Enrolled in accordance with the annexes to the extract from the personal account |
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Written off to repay a loan |
Loan amount credited according to your application |
|
Limited book issued according to your application |
The unused balance of the limited checkbook amount has been credited |
|
Regulation of special loan accounts and accounts for settlement documents en route |
||
Interest charged on loans received |
All documents attached to the statement are canceled with the stamp "Canceled". On the fields of the verified statement against the amounts of transactions and in the documents, the codes of the accounts corresponding to account 51 are put down, and the serial number of its entry in the statement is also indicated on the documents.
In the journal-order No. 2, the turnovers on the credit of account 51 are reflected, the turnovers on the debit of the account are recorded in different journals-orders, and are controlled by statement No. 2. The grouping of amounts to reflect the necessary totals in the journal-order and statement is carried out by calculating the relevant data in statements or documents attached to them, according to the accounting markups given in them.
In the journal-order and in the statement, entries are made on the corresponding 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 the period for which 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 during this period.
The balance of funds on the bank account is given in the statement only at the beginning and end of the month. During the month, for operational purposes, the data on the balance of funds shown in bank statements are used.
The total turnover and balance for the journal-order and statements are transferred at the end of the month to the General Ledger on account 51.
JOURNAL-ORDER No. 02
on the credit of account 51 "Settlement 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 schemes of some possible transactions with the current account and the accounts corresponding with it for these transactions.
primary document |
Corresponding accounts |
||
Amounts of money received on the current account |
|||
Payment order (to us) |
Received money from buyers incl. advances for the supply of goods | ||
Bank deposit order |
Deposited cash from the cash desk to the bank (sales proceeds, deposit amounts, etc.) | ||
Payment order (to us) |
Cash received in transit | ||
Payment order (to us) |
Received short-term loans and borrowings | ||
Payment order (to us) |
Received long-term credits and loans | ||
Payment order (to us) |
Received the amount of contributions to the authorized capital from the founders | ||
Payment order (to us) |
Amounts received for satisfied claims (previously filed) | ||
Payment order (to us) |
Received insurance claims received from insurance companies | ||
Payment order (to us) |
Amounts of satisfied claims (previously filed) received | ||
Payment order (to us) |
Funds received on account of the profit received from the execution of a simple partnership agreement (entry with a participant in a simple partnership agreement) | ||
Payment order (to us) |
Received funds on account of the profit due under the contract of trust management of property (record with the founder of the management) | ||
Payment order (to us) |
Reflected income received on account of future periods (payment for utilities, communication services, etc.) | ||
Withdrawal of funds from the current account |
|||
Check for money in the bank |
Cash received from a bank account (for payment of wages, pensions, allowances, bonuses, etc.) | ||
Payment order |
The crediting of funds to letters of credit and special accounts is reflected, funds are deposited when issuing check books, etc. | ||
Payment order (from us) |
Provided cash loans to other organizations are reflected | ||
Payment order (from us) |
Payment of accepted invoices, payment claims of suppliers | ||
Payment order (from us) |
Repaid short-term loans and borrowings | ||
Payment order (from us) |
Repaid long-term loans and borrowings | ||
Payment order (from us) |
Transferring payments on taxes and fees to the budget | ||
Payment order (from us) |
Social security contributions paid | ||
Payment order (from us) |
Transfer to various organizations and individuals |
" |
Account characteristics 51
Account 51 of accounting is included in section V “Cash” of the Chart of Accounts of Accounts, approved by order of the Ministry of Finance of the Russian Federation of October 31, 2000 No. 94n.
The main characteristic of account 51 is that it is a synthetic active accounting account, which reflects all transactions occurring on the organization's ruble settlement accounts. The accountant reflects the receipt of funds 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 can be, for example, a payment or collection order, a check, etc. The balance on account 51 is the balance of money on the organization's current account. Analytics on account 51 is carried out for each current account opened by the company in credit institutions.
Account 51 corresponds to many accounting accounts designed to reflect transactions related to the movement of funds. For example, this:
- account 60 - for settlements with suppliers;
- account 62 - for settlements with buyers;
- 70 - for settlements with employees;
- 71 - for settlements with accountable persons and so on.
If there was an erroneous crediting or debiting of funds to the settlement account of the organization, then when this fact is revealed, the erroneous amount must be reflected in the correspondence with account 76 (sub-account "Calculations on claims"). A complete list of corresponding accounts is given in Order No. 94n.
Non-profit and small businesses can apply simplified accounting. They can significantly enlarge the breakdown by accounts and, accordingly, not use many of them. However, this does not apply to account 51 of accounting. It will be present in the accounting of any enterprise.
Account analysis 51
Analysis of account 51, like other accounting reports, can be done for any period of time. The report consists of several columns.
The first column shows the accounting accounts with which account 51 corresponded. The second column shows the funds received on the current account for the selected period, in accordance with the accounting accounts for which the accountant posted the income amounts. The third column is similar to the second - only for debited funds. The top line shows the balance, that is, the cash balance at the beginning of the selected period, the bottom line shows the balance at the end of the period.
Don't know your rights?
This report is useful if you need to learn in general 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 doesn’t matter from whom exactly. Or that the money was spent on taxes, but it is not necessary to know at the moment which ones specifically.
The analysis of the account is shown in the figure.
Sample account card 51
The account card provides complete information about the cash flow on account 51. Here, similar to the analysis of the account, there are opening and closing balances 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 corresponding accounts, the amounts of transactions and the balance of the account after each of them are indicated. You can also get an idea of what kind of operation was performed. It was a transfer of tax, payment for bank services, or receipts from the buyer. In the case of transactions with counterparties in the account card, the names of counterparties and the numbers of accounts or agreements on the basis of which the cash flow was made are easy to read.
A sample account card 51 is shown in the figure.
Turnover balance sheet for account 51
The essence of the report lies in its name: it displays the opening and closing balances and turnovers on the account for the selected period of time. The report is of a generalized nature and provides information only on the balances of account 51 and the total amount of funds received and withdrawn from the current account. If the organization has several settlement accounts, then each of them will be highlighted in a separate line 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 on all settlement 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.
***
Account 51 is one of the most frequently used accounting accounts, therefore, it is important for every accountant to be able to correctly make entries in correspondence with it. At the same time, it is very easy to use, being an active account, and accounting reports on it provide a large share of information about the movement of finances in the enterprise.
To reflect the receipt and expenditure of funds on the company's current accounts, account 51 "Settlement accounts" is used in accounting. Consider the features of working with it and analyze typical accounting entries.
How is account 51 used in accounting?
Account 51 is active. An account increase is shown as a debit, and a decrease is shown as a credit. For example: if sales proceeds are credited to the company's account, then debit entries on account 51 will be involved, and if services, raw materials or debts to counterparties are paid from the current account, then account 51 entries are made on credit.
The balance of the account is debit. It shows the cash balance that the company owns at the reporting date. Since cash resources are the assets of the enterprise, the final balance of the account is reflected in the asset balance, in particular, in line 1250.
The main document confirming the state of the account is a bank statement.
The balance of account 51 cannot be negative. If the company has no money, then the balance is zero, if there is, then the balance is greater than zero. If the bank has granted an overdraft, then it should be shown as accounts payable, but not as a positive balance.
Analytics and sub-accounts
Account 51 is used for synthetic accounting, that is, to provide general information on the enterprise. Analytics is conducted in the context of each open current account. This may be an account of a branch, branch, etc. Also, a company can have several current accounts (allowed by law).
Based on the characteristics of the accounting policy of the enterprise, additional sub-accounts can be opened to account 51. Accounting for them is carried out only in the national currency - in rubles. To account for cash in foreign currency is used.
Documentary accounting on account 51
Each operation leading to a change in the balance is subject to documentary registration. Reporting forms confirming cash flows are presented below:
- bank statements - confirm receipts;
- payment orders - confirm the write-off in payment of debts to suppliers, buyers, partners.
Accounting for account 51 is carried out within 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 generate a statement at least once a month.
At large enterprises with large turnovers of financial resources, as well as the presence of branches and structural divisions, it is recommended to generate a balance sheet on a daily basis.
Typical postings to account 51
Account 51 can correspond with other accounts, depending on what needs to be reflected - crediting money or debiting it. Consider how postings for business transactions are formed in both cases.
the name of the operation | Debit | Credit |
---|---|---|
Admission | ||
Money is credited from the cash desk of the enterprise | ||
Partial payment received from buyer | ||
A short-term loan with a maturity of 6 months was received from the bank | ||
Tax refund received from the state due to overpaid amounts | ||
The founders formed the authorized capital | ||
Reflected cash received, classified as deferred income | ||
Write-off | ||
To pay the accountable person funds for economic needs, money was withdrawn from the current account and credited to the cashier | ||
A payment was made on account of the delivered materials from the supplier | ||
The obligation on a short-term loan was repaid, taking into account the accrued interest | ||
Paid wages to company employees |
If, as a result of reflecting a business transaction, an error was made - the wrong amount was credited or an incorrect payment was written off - then the amounts identified during the audit are subject to reflection on account 76 “Settlements with different debtors and creditors”.
And having an independent balance.
Free funds in the currency of the Russian Federation are kept on the current account. Settlement accounts are also used to make settlements with the budget, suppliers, buyers and others. The issuance and transfer of funds from this account is carried out by the bank, as a rule, on the basis of an order from the account holder (organization) or with his consent (acceptance). However, in some cases, the bank writes off 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 settlement account are made out by the following documents. An announcement for a cash contribution is issued when money is deposited from the cash desk into the current account. cash check serves as an order of the organization to the bank to issue from the current account the amount of cash indicated in the check. Settlement check is used to transfer funds from the payer's settlement account to the recipient's settlement account. The payment order serves the same purpose. A payment request, unlike a settlement check and a payment order, is issued by the recipient of funds (supplier). It is intended for payments for products, works and services.
The organization periodically receives from the bank account statement, containing the operations performed, turnovers and balances. The statement is accompanied by monetary settlement documents, on the basis of which transactions were made on the current account. On the basis of extracts, records are kept on settlement accounts.
Analytical accounting for 51 "Settlement accounts" should be kept for each settlement account.
Synthetic accounting of transactions on settlement accounts is maintained by the accounting department of the organization on the active account 51 "Settlement accounts". Turnovers on the credit of these accounts are recorded on the basis of the bank statements in the journal-order No. 2, and on the debit - in the statement No. 2. The amounts with the corresponding corresponding accounts of each statement are added up and recorded in the journal-order and statement following 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 means an increase, that is, the receipt of funds, and for a loan, a decrease, that is, the write-off of funds.
The debit of account 51 "Settlement accounts" reflects the following main transactions:
1. Delivery of cash to bank accounts:- credit of account 50 "Cashier".
- debit of account 51 "Settlement accounts",
- credit of account 62 "Settlements with buyers and customers",
- credit of account 90-1 "Revenue".
- debit of account 51 "Settlement accounts",
- debit of account 51 "Settlement accounts",
- credit of account 66 "Settlements on short-term credits and loans",
credit of account 67 "Settlements on long-term credits and loans".
- debit of account 51 "Settlement account",
- credit of account 55 "Special bank accounts".
- debit of account 51 "Settlement accounts",
- credit of account 91-1 "Other income".
- debit of account 51 "Settlement accounts",
- credit of account 76 "Settlements with different debtors and creditors".
- debit of account 51 "Settlement accounts",
- credit of account 76-2 "Calculations on claims".
On the credit of the active account 51 "Settlement accounts" the following main operations are recorded:
1. Cash received at the cash desk from the current account:- debit 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".
- 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 credits and loans",
- debit of account 67 "Settlements 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".
- debit of account 58 "Financial investments",
- credit of account 51 "Settlement accounts".
- debit of account 76 "Settlements with different debtors and creditors",
- credit of account 51 "Settlement accounts".
In addition to settlement accounts, organizations may have other accounts in banks: 52 "Currency accounts", 55 "Special accounts in banks".
All these accounts. Accounting for transactions on them is similar to accounting for transactions on current accounts. Analytical accounting on account 52 "Currency accounts" must be kept for each account opened for keeping funds in foreign currency. And on account 55, it is necessary to ensure the receipt of data on the movement of funds in letters of credit, deposits, checks, etc.
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