Accounting for finished products and their sale. Accounting for the sale of products (works, services) Accounting for the sale of products goods works services
Accounting for the sale of products (works, services)
In accordance with the New Chart of Accounts, sales proceeds are recorded on account 90 “Sales” and subaccount 90-1 “Revenue”. This sub-account is intended to summarize information on income related to the ordinary activities of the organization. This account reflects, in particular, revenue from:
- finished products and semi-finished products of own production;
- work and services of an industrial nature;
- work and services of a non-industrial nature;
- Purchased products (purchased for assembly);
- · construction, assembly, design and survey, geological exploration, research, etc. work;
- goods;
- services for the transportation of goods and passengers;
- · forwarding and loading and unloading operations;
- communication services;
- provision for a fee for temporary use (temporary possession and use) of their assets under a lease agreement (when this is the subject of the organization's activities);
- granting for a fee the rights arising from patents for inventions, industrial designs and other types of intellectual property (when this is the subject of the organization's activities);
- participation in the authorized capital of other organizations (when this is the subject of the organization's activities), etc.
When recognized in accounting, the amount of proceeds from the sale of goods, products, performance of work, provision of services, etc. is reflected in the credit of account 90 “Sales”, subaccount 90-1 “Revenue” and the debit of account 62 “Settlements with buyers and customers”.
In organizations engaged in retail trade and keeping records of goods at sale prices, on the credit of account 90 “Sales”, subaccount 90-1 “Revenue” reflects the sale value of the goods sold (in correspondence with cash and settlement accounts).
Analytical accounting for sub-account 90-1 “Revenue” is maintained for each type of goods sold, products, work performed, services rendered, etc. In addition, the enterprise can organize analytical accounting for this account by sales regions and other areas necessary for managing the organization.
Sales of products are carried out in accordance with the concluded agreements. Depending on the terms of the contract, the transfer of ownership of the product (goods) may occur during the actual transfer (shipment) of the product to the buyer, and the contract may provide for a different procedure for the transfer of ownership.
In accounting, products are considered sold at the time of transfer of ownership of them to the buyer.
For tax purposes, an enterprise may account for revenue either “on shipment” (as the ownership of the shipped products passes to the buyer) or “on payment” (as payment for the sold products).
With both methods of accounting for sales for tax purposes, finished products, the ownership of which has passed to the buyer, are reflected in the accounting records under the debit of account 62 “Settlements with buyers and customers” and the credit of account 90 “Sales” subaccount 90-1 “Revenue”. At the same time, the cost of production is written off to the debit of account 90 "Sales" subaccount 90-2 "Cost of sales" from the credit of account 43 "Finished products". From the amount of proceeds, the organization calculates value added tax and excise tax (according to the established list of goods).
With the method of determining revenue for tax purposes "by shipment", the amount of accrued VAT is reflected in the debit of account 90, subaccount 90-3 "VAT" and the credit of account 68 "Calculations for taxes and fees". This entry reflects the organization's debt to the budget for VAT, which is then repaid by transferring funds to the budget.
With the method of determining revenue for tax purposes "on payment", the organization's debt to the budget arises after the buyer pays for the products. Therefore, after the transfer of ownership of the products to the buyer, organizations reflect the amount of VAT on sales on the debit of account 90, subaccount 90-3 “VAT” and the credit of account 76 “Settlements with various debtors and creditors”. Received payments for sold products are reflected in the debit of account 51 "Settlement account" and other cash accounts in correspondence with the credit of account 62 "Settlements with buyers and customers". After receipt of payments, organizations that apply the method of determining revenue for tax purposes “on payment” reflect the debt to the budget by posting: debit of account 76 “Settlements with various debtors and creditors” credit of account 68 “Calculations for taxes and fees”.
Thus, the difference in the methods of determining revenue for tax purposes is as follows. With the “by shipment” method, the debt to the budget for VAT is registered immediately with one posting, the debit of account 90, subaccount 90-3 “VAT” and the credit of account 68. With the “payment” method for VAT, two postings are made:
- 1. Debit of account 90, subaccount 90-3 - credit of account 76 (the amount of VAT on sold products is reflected).
- 2. Debit of account 76 - credit of account 68 (the VAT debt to the budget is reflected).
To account for sales, account 90 “Sales” is used:
On account 90, both the debit and the credit reflect the same volume of sold products (works, services), but in different estimates: for the loan - at sales prices, and for the debit - at full cost (actual production cost products sold plus selling expenses) with value added tax and excise tax.
Account 62 "Settlements with buyers and customers" has the following structure:
Recently, advance payment for supplied products has been widely used.
It should be noted that, in accordance with the New Chart of Accounts, the amounts received in advances are also taken into account on account 62.
In case of advance payment for delivery, the amounts of payments received are reflected in accounting until the moment of shipment of products as accounts payable and are documented by posting debit 51 “Settlement account” credit 62 subaccount “Calculations on advances received”.
After the shipment of products in accounting, a debit entry is made to the sub-account “Settlements on advances received” credit 62 “Settlements with buyers and customers”.
The main postings for accounting for the sale of finished products.
Conclusion to Chapter 3
This brochure introduced you to such features of accounting for finished products, their shipment and sale as:
- Accounting for the movement of the company's products and its assessment;
- Accounting for the shipment of finished products, work performed and services rendered;
- policy of accounting for the sale of products (works, services);
- implementation accounting;
- · the main postings for the accounting of finished products, their shipment and sale.
The sale of finished products is the final stage in the circulation of economic assets of the organization.
Sale of finished products involves:
- - shipment of finished products to the buyer at actual cost, costs associated with the sale;
- - receipt of funds from the buyer for finished products shipped to them at selling prices.
Selling prices are set by the organization independently, while taking into account market prices for similar products and the full cost of manufactured products.
Therefore, the selling price of the organization is the sum of:
- - total cost (production cost + selling expenses);
- -VAT;
- - the planned profit.
As a result of comparing the income received (sales proceeds) and expenses (actual expenses associated with production and sale), the financial result from the sale is determined: profit or loss.
Each organization bears the costs of the sale at its own expense. The costs associated with the sale are accounted for on a special account 44 "Sales costs". This is an active, collectively distributive account. The structure of expenses for sale is determined by normative documents. It is approved by the order on the accounting policy of the organization.
Selling expenses include:
- - expenses for containers and packaging (boxes, barrels, cans, boxes, etc.);
- - transportation costs associated with the delivery of products by own or third-party transport;
- - loading and unloading costs (wages of workers engaged in this type of work, insurance premiums at the established rate from the accrued amount of wages of workers engaged in loading and unloading products, payment of these costs by accountable persons of the organization, etc.);
- - advertising expenses (different types of advertising of finished products, works, services);
- - other expenses (travel expenses of employees of the organization on issues related to the sale of products, organization of exhibitions of finished products, etc.).
Accounting for business transactions for accounting for expenses associated with the sale of products can be divided into two stages:
- 1) accounting for the above expenses and the formation of their amount for the reporting period in the debit of account 44 “Sales expenses”;
- 2) the distribution of sales costs among the types of products sold. Distribution bases can be: volume, weight, production cost of production and other indicators.
Accounting for business transactions on account 44 “Sales expenses”
Business operations |
Correspondence accounts |
Sum |
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debit |
credit |
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Released materials for packaging finished products |
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Depreciation charged on equipment used to package products |
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Wages accrued to workers engaged in packaging products |
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Insurance premiums accrued (30.2%) (6500 x 30.2 / 100%) |
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Accepted and approved the advance report of the sales manager for travel expenses |
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Released from the warehouse container for product packaging |
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Allocate and write off sales expenses |
To account for the sale of finished products, works, services, account 90 “Sales” is intended.
The following expenses are reflected in the debit of this account: the actual production cost of products sold, VAT received from the buyer as part of the proceeds, and sales expenses for the reporting period. In accordance with the order on accounting policy, general business expenses may be charged to the debit of this account.
The credit of account 90 "Sales" records the proceeds from the sale of finished products, works, services.
Account 90 "Sales" has no balance. The resulting difference is the financial result, which is transferred to account 99 “Profit and Loss”, therefore the balance of account 90 “Sales” is always zero.
Structure of account 90 "Sales"
Account 90 "Sales" |
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1) revenue received from customers for products sold |
Debit turnover - actual costs associated with the production and sale of products, including VAT |
Loan turnover - sales proceeds |
Write-off of profit from the sale if the proceeds from the sale exceed the actual expenses |
Write-off of a loss on sale if the organization's expenses exceed the proceeds from the sale |
Accounting for the sale of products is reflected in the system of accounting accounts when the ownership of the finished product passes to the buyer at the time of shipment:
Products were released from production to the warehouse of the organization at the actual cost:
Dt account 43 "Finished products"
Kt account 20 "Main production";
Products are shipped to buyers at sale prices:
Dt account 62 "Settlements with buyers"
Kt account 90 "Sales";
The actual production cost of shipped products is written off:
Dt account 90 "Sales"
CT account 43 "Finished products";
Received on the current account payment from buyers for products sold:
Dt account 51 "Settlement account"
Kt account 62 "Settlements with buyers";
Selling costs collected:
Dt of account 44 “Sales costs”
Kt accounts 10 “Materials”, 71 “Settlements with accountable persons”, 70 “Settlements with personnel for wages”, etc.;
Selling expenses are written off:
Dt account 90 "Sales"
Kt of account 44 "Expenses for sale";
- - the financial result is determined:
- a) profit - Dt account 90 "Sales" Kt account 99 "Profit and loss";
- b) loss - Dt of account 99 “Profit and Loss” Kt of account 90 “Sales”.
The seller organization sells finished products to the buyer for 118,000 rubles, including VAT - 18,000 rubles. Under the terms of the contract, the moment of transfer of ownership from the seller to the buyer at the time of shipment is provided. Proceeds from the sale were credited to the bank account of the organization.
The actual costs associated with the production and sale of products are:
- - actual production cost of finished products - 90,000 rubles;
- - sales expenses - 6806 rubles. (travel expenses - 1500 rubles, expenses for packaging - 1400 rubles, wages for workers - 3000 rubles, insurance premiums - 906 rubles).
Table 7.5
Journal of business transactions
test questions
- 1. Give the concept of finished products.
- 2. Name the meters that take into account finished products.
- 3. Tell us about the procedure for forming an assessment of finished products, which is used for synthetic accounting.
- 4. Evaluation of finished products, which is used in current accounting.
- 5. Make the main postings for the accounting of finished products received from production to the warehouse of the organization.
- 6. Describe account 43 "Finished products".
- 7. What is the composition of the costs associated with the sale of products.
- 8. What is the financial result and how is it calculated?
- 9. Bring the correspondence of accounts for the accounting of the sale.
- 10. What account reflects the financial result from the sale of products, works, services?
- 11. What is the selling process?
- 12. What transactions are recorded on account 90 "Sales"?
- 1. At the stage of the implementation process, it is calculated:
- 1) procurement cost of objects of labor;
- 2) production cost of products, works and services;
- 3) the full actual cost of goods sold.
- 2. Profit from the sale of products is reflected in the posting:
- 1) Dt 99 Kt 90;
- 2) Dt 90 Kt 99;
- 3) Dt 91 Kt 99.
- 3. Reflection of a business transaction on accounts D-t 90 K-t 43 means:
- 1) product release;
- 2) sale of products (actual cost);
- 3) return of products to customers (sales value).
- 4. On account 90 "Sales" is reflected:
- 1) the actual production cost of products sold;
- 2) accounting assessment of goods shipped;
- 3) the full actual cost of goods sold.
- 5. When finished products are released from production, posting is made:
- 1) Dt 20 "Main production" Kt 10 "Materials";
- 2) Dt 43 "Finished products" Kt 20 "Main production";
- 3) Dt 10 "Materials" Kt 20 "Main production".
- 6. Received payments for products sold:
- 1) D 51 K62;
- 2) D 62 K 90;
- 3) D 60 K51.
- 7. Selling expenses are written off:
- 1) D 90 K 44;
- 2) D 43 K 44;
- 3) D 99 K 44.
- 8. Profit from the sale of products - This:
- 1) the difference between the actual and planned cost of goods sold;
- 2) the difference between the proceeds from the sale of products and its full actual cost;
- 3) proceeds from the sale of products.
- 9. The loss from the sale of products is reflected in the posting:
- 1) Dt 99 Kt 90;
- 2) Dt 90 Kt 99;
- 3) Dt 91 Kt 99.
- 10. The financial result from the main activity is determined on the account:
- 1) 90;
- 2) 91;
- 3) 99.
The financial result of the organization's activities is profit or loss.
The group of financially effective accounts includes the following accounts:
- 91 "Other income and expenses";
- 99 "Profit and Loss";
- 84 "Retained earnings (uncovered loss)".
They are designed to take into account the financial performance of the organization and are active-passive.
Account 99 "Profit and Loss" is intended to summarize information on the formation of the financial result in the reporting year. This account is credited with:
- - financial result from the main activity, identified on account 90 "Sales";
- - balance of account 91 "Other income and expenses";
- - advance payments of income tax, sanctions of tax authorities, recalculation of income tax based on actual profit.
The formation of the financial result of the organization's activities for the reporting month is reflected in the following accounting entries:
- 1. The financial result from sales for the reporting month was revealed:
- a) profit:
Credit of account 99 "Profit and loss";
b) loss:
Set Credit 90/9 "Sales Profit/Loss".
2. Other income of the organization is reflected during the month:
Debit of various accounts by types of income received Credit of account 91/1 "Other income".
3. Other expenses of the organization are reflected during the month:
Debit account 91/2 "Other expenses"
Credit to different accounts by types of expenses incurred.
- 4. At the end of the month, the entries on account 91 “Other income and expenses” are compared and the balance is identified, which is written off:
- a) if a debit balance is received:
Debit account 99 "Profit and loss"
Credit of account 91/9 “Balance of other income and expenses”;
b) if a credit balance is received:
Debit account 91/9 "Balance of other income and expenses"
Credit of account 99 "Profit and loss".
5. Income tax payments accrued:
Debit account 99 "Profit and loss"
At the end of the year, the sub-accounts opened to accounts 90 “Sales” and 91 “Other income and expenses” are closed (by internal entries to accounts 90/9, 91/9), and the financial result of the reporting year is written off to account 84 “Retained earnings (uncovered loss )".
When closing account 90 "Sales" make entries:
1. The revenue accumulated during the year is written off:
Debit account 90/1 "Revenue"
Credit of account 90/9 "Profit/loss on sales".
2. The cost of sales accumulated during the year is written off:
Debit account 90/9 "Profit / loss from sales"
Account credit 90/2 "Cost of sales".
3. VAT accumulated during the year is written off:
Debit account 90/9 "Profit / loss from sales"
Credit of account 90/3 "VAT".
When closing account 91 “Other income and expenses”, the following entries are made:
1. Other income accumulated during the year is written off:
Debit account 91/1 "Other income"
Credit of account 91/9 "Balance of other income and expenses".
2. Other expenses accumulated during the year are written off:
Debit account 91/9 "Balance of other income and expenses"
Credit of account 91/2 "Other expenses".
At the end of the reporting year, the tax is calculated from the actual profit and the amount of previously accrued payments is adjusted:
1. If the payments accrued during the year are less than the amount due, then for the additionally accrued amount:
Debit account 99 "Profit and loss"
Credit of account 68 "Calculations on taxes and fees".
2. If the accrual was made in excess of the amount due, the overcharged amount shall be reversed:
Debit account 99 "Profit and loss"
Credit of account 68 "Calculations on taxes and fees".
The final entry in December is the write-off of the financial result of the reporting year:
1. The net profit of the reporting year is written off:
Debit account 99 "Profit and loss"
Credit of account 84 "Retained earnings (uncovered loss)".
2. The loss of the reporting year is written off:
Debit of account 84 "Retained earnings (uncovered loss)" Credit of account 99 "Profit and loss".
- 1. Financial result from other operations is reflected in correspondence:
- 1) D 90 "Sales" K 99 "Profit and Loss";
- 2) D 99 "Profit and Loss" K 90 "Sales";
- 3) D 99 "Profits and losses" K 44 "Costs of sale";
- 4) D 91 "Other income and expenses" K 99 "Profits and losses";
- 5) D99 “Profits and losses” K 91 “Other income and races
- 2. The final financial result for the reporting period is formed on account 99:
- 1) as a debit turnover;
- 2) as the difference between credit and debit turnover;
- 3) as credit turnover;
- 4) as the sum of debit and credit turnover.
- 3. Retained earnings are shown in the balance sheet at:
- 1) asset on account 99;
- 2) asset on account 84;
- 3) liabilities on account 99;
- 4) liabilities on account 84.
- 4. Uncovered loss is shown in the balance sheet at:
- 1) asset on account 99;
- 2) asset on account 84;
- 3) liabilities on account 99;
- 4) liabilities on account 84.
- 5. When accruing income tax, an entry is made:
- 1) Debit account 99 "Profit and loss" Credit account 68 "Calculations on taxes and fees";
- 2) Debit account 68 "Calculations on taxes and fees" Credit account 51 "Settlement accounts";
- 3) Debit of account 91/2 "Other expenses" Credit of account 68 "Calculations on taxes and fees".
- 6. The write-off of net profit is reflected in the entry:
- 1) Debit account 99 "Profit and loss" Credit account 84 "Retained earnings (uncovered loss)";
- 2) Debit account 84 "Retained earnings (uncovered loss)" Credit account 99 "Profit and loss";
- 3) Debit account 91/9 "Balance of other income and expenses" Credit account 99 "Profit and loss";
- 4) Debit account 99 "Profit and loss" Credit set 90/9 "Profit/loss on sales".
- 7. Can account 91 “Other income and expenses” have balances:
- 1) can;
- 2) cannot;
- 3) balances can have sub-accounts opened to account 91.
- 8. On the debit of account 91 are shown:
- 1) other income;
- 2) other expenses;
- 3) sales revenue.
- 9. On account credit 91 are shown:
- 1) other income;
- 2) other expenses;
- 3) sales revenue.
- 10. Sub-accounts opened to account 91 “Other income and expenses” are closed by internal entries on:
- 1) 90/9;
- 2) 91/9;
- 3) 99.
Finished products and their evaluation
Finished products are products that are completely finished processing, accepted by technical control and delivered to the warehouse or accepted by the customer. Products that have not passed control or all stages of processing are accounted for as part of work in progress.
For enterprises performing work and providing services, the product of their production activity is considered to be work performed for other enterprises and services rendered.
Finished products are valued in accounting either at actual or standard cost. In the same assessment, it is reflected in the balance sheet of the enterprise. Valuation at actual production cost is used in individual production of products. For other industries, discount prices are used, which can be used as selling prices or planned cost.
Shipment (release) of products, works and services to buyers and customers
15. Accounting for the sale of products (works, services).
Under a sale and purchase agreement in accordance with the Civil Code of the Russian Federation, one party (the seller) undertakes to transfer the thing (goods) into the ownership of the other party (the buyer), and the buyer undertakes to accept the property and pay a certain amount of money (price) for it.
The contract usually defines the moment of transfer of ownership from the seller to the buyer. The right of ownership of the acquirer of the thing under the contract has arisen. from the moment of its transfer. To account for the implementation is ready. products, works, conv. used sch. 90 "Sales".
On the account 90 for both D and K reflection. the same sales volume. (works, services), but in different estimates: for K - at sales prices.), And for D - at full cost with VAT. Comparing sales revenue. products (works, services) with the amount reflected in D sc. 90, reveals the result from the sale of products (works, services) - profit or loss.
Sales proceeds. products reflect according to D sch 62 in correspondence with sch 90.
Account 62 keeps records of settlements with purchases and customers. However, if using typical scheme of economic operations (delivery of products, payment for a specific delivery), sub-accounts to account 62 without opening.
In the event that the supply contract provides for collection form of calculation, to account 62 opens sub-account 62-1 “Settlements in the order of collection”, for which it takes into account. calculations on presented. buy and order and accepted by the bank for payment of the settlement document for the shipment of products (output of work, provision of services).
If m / y buy. and seller to them. long-term household connection, to account 62 m.b, sub-account 62-2 “Settlements with planned payments” was opened. On this subsc. taking into account calculations are not specific. delivery, but plans. payments and scheduled deliveries on a regular basis. clarification of the status of settlements.
Analytical accounting for account 62 led. for each presented. to buyers (customers of the account), and when calculating planned payments - for each. buy-lu and the customer.
acc. with a conclusion contracts org. can. receive advance. payment for goods. Receipt Accounting preliminary payment from the buyer is carried out on account 62 / subaccount “Calculations for advance payment”. By K reflect the amount received. preliminary payment for goods in correspondence with account. accounting for DS, for D - advance payment offset.
Prepayment received. to the PC or to the cashier, reflected by the wiring:
D51.50 K62 "Calculations on advance payment."
Recognition of these receipts as income of the seller organization is possible only after the proper execution of the contract for the supply of goods, vol. works, prov. services. Prior to this, the seller organization has creditors. debt before the pre-paid counterparty.
In data situational from the amount of the preliminary payment accrued VAT.
D62 "Calc. in advance payment "K68" Calc. for VAT.
Tax calculated. prepaid, accept to the deduction of independent from the moment the goods are sold, i.e. the deduction is made on the day of shipment.
After fulfilling the terms of the contract, the seller received possibility of income recognition. and expense., connected. with sale.
D62K90 reflects the proceeds from the sale of products.
D90K43 the cost of production has been written off.
D90K68 reflects VAT, accrued. when shipping products.
Since income and expenses are recognized in the accounting system in full, it is necessary. make a final settlement on an advance payment.
D51K62 the debt for shipped products was repaid.
D62 “Calculations according to preliminary payment "K62 - the amount of the previously paid prepayment is credited to the total amount of debt.
D68 K 62 “Calc. in advance payment" - restored. the amount of VAT on the previously received prepayment.
Recently distributed Commercial lending in the form of an advance payment, deferred and installment payment.
The terms of the commercial agreement credit m.b. provided for accrual of % on the amount of the buyer's (customer's) debt.
commercial credit is not self-sustaining. a loan type transaction, but one of the terms of the supply agreement. Therefore, % on the main. the amount of debt under the contract, accrued in the event of a delay in its repayment, represents an increase in the price of goods, works, services sold under the contract.
Based on clause 6.2 of PBU 9/99, it follows that when selling goods, issuing works, rendering services on the basis of a commercial loan provided in the form of a deferment and installment payment, the proceeds will be taken to the full amount of receivables. debt.
Finished products are part of the organization's inventories intended for sale, which are the end result of the production cycle, are completed by processing (assembly), and their technical and qualitative characteristics comply with the terms of the contract or the requirements of other documents (clause 199 of the Order of the Ministry of Finance dated December 28, 2001 No. 119n). What postings are formed when accounting for finished products and their sale, we will tell you in our consultation.
Synthetic and analytical accounting of finished products
Information about the availability and movement of finished products to the organization is summarized on a synthetic active account 43 "Finished products" (). Analytical accounting of finished products on this account is maintained by storage locations and types of finished products.
Finished products released from production are credited to the debit of account 43 from the credit of accounts 20 “Main production”, 23 “Auxiliary production”, 40 “Output of products (works, services)”, etc.
We talked in more detail about the accounting entries that are made when the finished product is released in a separate one.
Accounting for the sale of products (works, services) consists in recognizing income from sales, as well as expenses associated with the sale. Accounting for the sale of finished products, in a word, is a set of the following typical postings (Order of the Ministry of Finance dated October 31, 2000 No. 94n):
In addition, business expenses associated with the sale of finished products are also subject to write-off:
Debit of account 90, sub-account "Sale costs" - Credit of account 44 "Sale costs"
Accounting for financial results from product sales
At the end of the month, by comparing the debit and credit turnover to account 90, the financial result from ordinary activities is revealed. If the credit turnover exceeds the debit turnover, the organization received a profit from sales:
Debit of account 90, sub-account "Profit / loss from sales" - Credit of account 99 "Profit and loss"
Otherwise, the organization has a loss:
Debit of account 99 - Credit of account 90, sub-account "Profit / loss on sales"
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