What does the account 76 k mean? Active-passive account. How information on claims is reflected
Account 76 of accounting is an active-passive account “Settlements with various debtors and creditors”, accumulates information on settlements for transactions with debtors and creditors that are not related to accounts 60-75, for example, for amounts that the organization withholds from wages of employees on the basis of executive documents. Using standard postings and illustrative examples, we will consider the specifics of using account 76, its subaccounts 76.05, 76.09 and 76 AB, as well as the features of reflecting transactions on account 76: accounting for VAT on prepayments, housing and communal services and the sale of an apartment to an employee.
Subaccounts of account 76 “Settlements with various debtors and creditors” are presented in the figure:
Accounting for account 76 is maintained separately within a group of related organizations (consolidated financial statements).
Typical postings for account 76
The main entries for account 76 “Settlements with various debtors and creditors” are formed in the table:
| Account Dt | Kt account | Wiring Description | A document base |
| 76 | 01/03/04/ | Write-off of losses for insured events | Insurance contract |
| 76 | 20/23/25 | Filing claims against contractors for defects/downtime; | Claim |
| 76.02 | 60 | Filing a claim with a supplier/contractor | Claim |
| 76 | 73 | Reflection of the amount of insurance compensation to the employee | Insurance contract |
| 76 | 51 | Transfer to the recipient of the amount withheld from the employee | Performance list |
| 10/43/11 | 76.09 | Purchase of feed/products/animals from the population | |
| 60.02 | 76 | Reflection of the unreimbursed part of the claim | Act of reconciliation of disagreements |
| 51 | 76 | Receipt of funds from the insurance company to pay off the debt on insurance compensation | Bank statement |
Examples of postings for subaccounts 76 accounts
Example 1. Reflection of VAT on prepayment in invoice 76.AB
To reflect VAT on prepayment in subaccount 76.AV, the accountant of Vesna LLC generated the following entries:
| Account Dt | Kt account | Transaction amount, rub. | Wiring Description | A document base |
| 51 | 62.02 | 47 200 | Advance received from Leto LLC | Bank statement |
| 76.AB | 68.02 | 7 200 | VAT charged (advance) | Invoice, sales book, payment order |
| 62.01 | 90.01 | 47 200 | Vesna LLC shipped the goods | Sales Invoice |
| 90.03 | 68.02 | 7 200 | VAT charged (sales) | Invoice, invoice |
| 62.02 | 62.01 | 47 200 | Advance payment credited | Accounting certificate-calculation |
| 68.02 | 76.AB | 7 200 | VAT accepted for deduction (sales) paid in advance) | Invoice, sales book |
Example 2. Postings for housing and communal services on account 76.05
Let's look at the postings for housing and communal services between the management company and residents under subaccount 76.05 in the table:
| Account Dt | Kt account | Transaction amount, rub. | Wiring Description | A document base |
| 76.06.01 | 76.05.01 | 4 000 | Utility bills accrued | Check |
| 76.06.01 | 86 | 1 500 | Contributions for maintenance and repairs and other targeted | |
| 76.06.01 | 60 | 5 500 | Reflection of debt to service provider | Contract, certificate of completion of work |
| 51 | 76.06.01 | 5 500 | Receipt of payment from the tenant | Bank statement |
| 60 | 51 | 5 500 | Paid to supplier | Payment order |
Example 3. Postings for the sale of an apartment to an employee on account 76.09
Suppose A.I. Khlebtsov is a very valuable employee of Osen LLC. The additional agreement to the employment contract states that Khlebtsov can buy an apartment from Osen LLC for less than the purchase price, provided that he works for the company for at least 5 years and 4 years after purchasing the apartment.
The accountant of Osen LLC generated the following entries for the sale of an apartment to an employee under subaccount 76.09:
| Account Dt | Kt account | Transaction amount, rub. | Wiring Description | A document base |
| 76.09 | 51 | 3 000 000 | Khlebtsov A.I. paid the cost of the apartment to Osen LLC | Payment order |
| 41 | 76.09 | 3 500 000 | The apartment has been registered | Acceptance certificate |
| 51 | 73 | 3 000 000 | Funds were received from A.I. Khlebtsov. | Bank statement |
| 73 | 91.01 | 3 000 000 | The transfer of the apartment to the owner has been completed | The acceptance certificate has been signed |
| 91.02 | 41 | 500 000 | Osen LLC wrote off the cost of the sold apartment | Acceptance certificate |
Accounting account 76 isan account designed to collect data on financial relationships with debtors and creditors of an enterprise that are irregular in nature and not related to the main areas of work. Our article will help you understand what types of transactions are reflected in the account, and will also clarify the rules for their accounting and tax accounting.
When to use count 76
In accordance with the chart of accounts (order of the Ministry of Finance of Russia dated October 31, 2000 No. 94n), account 76 “Settlements with various debtors and creditors” is used to collect information related to:
- with insurance;
- claims under contracts;
- salary deposit;
- settlements based on executive documents of employees, etc.
Thus, it takes into account all settlement transactions that cannot be taken into account in other accounts.
This account is active-passive, the balance on it can be either debit or credit. In this case, the debit reflects the debt to the enterprise, and the credit reflects the debts of the enterprise itself.
Read more about accounting for receivables and payables in the article .
When forming the balance, the expanded balance of account 76 is taken into account:
- Dt balances are shown on line 1230 “Accounts receivable”;
- credit balance - according to line 1520 “Accounts payable”.
Depending on the accounting policies applied by the enterprise, it is also possible to assign some groups of receivables (for example, undistributed insurance premiums) to other current assets (line 1260).
Property insurance
To summarize data on operations on life and health insurance of employees, as well as company assets, subaccount 76/1 “Calculations for property and personal insurance” is opened.
NOTE! Account 76/1 does not take into account contributions to the Pension Fund, Social Insurance Fund and Compulsory Medical Insurance Fund - they are accounted for using account 69.
Accounting for insurance transactions includes 3 stages:
- accrual of payments;
- enumeration;
- operations upon the occurrence of an insured event.
The accrual of payments is shown according to Kt 76/1 in interaction with cost items. So, if production equipment is insured, account 76/1 corresponds with production accounts:
Dt 20 (23, 25) Kt 76/1 - the amount of the insurance payment was allocated to production expenses.
If assets not used directly in production are insured, payments are shown as other expenses:
Dt 91/2 Kt 76/1.
The transfer of amounts presented for payment is reflected by the posting:
Dt 76/1 Kt 51 (50, 52).
In relation to tax accounting, insurance is divided into compulsory and voluntary. Expenses for compulsory insurance are taken into account in full, for voluntary insurance - in the legally established amounts (Article 255 of the Tax Code of the Russian Federation).
You can get acquainted with the features of accounting for insurance premiums in the article .
Accounting for insurance compensation
If something happens to the insured property that is provided for by agreement of the parties as an insured event, the company has the right to demand compensation from the insurer.
On the date the insurance company makes a decision on payment, an entry is made (clauses 2, 7, 9, 10.2, 16 PBU 9/99):
Dt 76/1 Kt 91/1 - insurance compensation accrued.
The receipt of money into the account (cash) of companies is registered by the operation:
Dt 51 (50, 52) Kt 76/1 - the amount of compensation was credited to the current account.
Losses from insured events will be reflected in the debit of account 91.2 “Other expenses” (clauses 2, 11, 13 of PBU 10/99).
For more information about what an insurance premium is and how to calculate it, read the article .
Example
Gamma LLC insured the production premises against fire. According to the agreement, the company transferred 20,000 rubles to the insurance company. annually. The maximum amount of possible compensation was 400,000 rubles.
The following entries were made:
- Dt 20 Kt 76/1 - 20,000 rub. (the amount of the insurance payment has been calculated);
- Dt 76/1 Kt 51 - 20,000 rub. (insurance amount paid).
During the period of validity of the contract, a fire occurred in the insured premises. The insurer acknowledged the insured event and agreed to pay the full insurance premium.
The wiring is as follows:
Dt 76/1 Kt 91/1 - insurance compensation accrued;
Dt 51 Kt 76/1 - 400,000 rubles received. to the account as a refund.
The premises were renovated, which was carried out by a contractor and cost Gamma LLC 236,000 rubles. (including VAT RUB 36,000)
Postings:
- Dt 91/2 Kt 60 - 200,000 rub. (repair work was carried out by the contractor);
- Dt 19 Kt 60 - 36,000 rub. (VAT included);
- Dt 60 Kt 51 - 236,000 rub. (paid for work).
In addition, construction materials worth RUB 118,000 were purchased for the work. (including VAT RUB 18,000):
- Dt 10 Kt 60 - 100,000 rub. (building materials were purchased);
- Dt 19 Kt 60 - 18,000 rub. (VAT highlighted);
- Dt 60 Kt 51 - 118,000 rub. (money was transferred for building materials);
- Dt 91/2 Kt 10 - 100,000 rub. (purchased building materials were released into production).
As for VAT, if property is repaired, this tax can be reimbursed from the budget in the usual manner (letter of the Ministry of Finance of the Russian Federation dated June 17, 2015 No. GD-4-3/10451@). This operation will correspond to the wiring Dt 68 Kt 19.
Employee insurance
Accounting for information related to life and health insurance of employees is similar to accounting for property insurance transactions. The difference is that when paying an employee the amount transferred to the company by the insurer as an insurance premium (if there was an insured event), account 76/1 interacts with account 73 “Settlements under the insurance contract”:
- Dt 76/1 Kt 73 - reflects the accrued amount of insurance compensation to be paid to the injured employee;
- Dt 51 Kt 76/1 - insurance compensation received, payable to the insured employee;
- Dt 73 Kt 50 (51) - the employee was paid the insurance amount.
Accounting for claims
To reflect information about claims against counterparties against account 76, a subaccount 76/2 “Claims” is opened. It is used in cases where the counterparty has violated any obligations, there are comments on the quality and quantity of the goods supplied, deadlines have not been met, errors have been found in documents, etc.
How to properly file a claim, read the material .
For a sample of writing a complaint, look in the materials:
For example, if a shortfall is detected (before the values are accepted for accounting), the accountant makes the following entries:
Dt 76/2 Kt 60 - the amount of the claim is reflected.
If a shortfall is detected after acceptance, the claims account is debited with the accounts of inventories, goods and other valuables that are the subject of the transaction:
Dt 76/2 Kt 10 (41).
The agreement with the counterparty may provide for penalties (fines, penalties, penalties). Then the score is applied with a score of 91/1:
Dt 76/2 Kt 91/1 - the amount of the penalty is attributed to other income.
see also .
The receipt of claims amounts is reflected by the following entries:
Dt 51 (50, 52) Kt 76/2 - money has been credited to the account.
If the demand is made by the organization itself, such calculations are also reflected in account 76/2. Accounting is carried out in a similar way, only in this case the company is no longer a debtor, but a creditor, and the amounts of claims recognized by it in relation to other parties to the transaction are credited to the accounts of the subject of the claim: Dt 10 (41) Kt 76/2.
For possible objections to the claim, see the article .
What to do if it is impossible to collect a claim
In certain cases, it is impossible to obtain amounts of penalties and fines. Such situations include:
- lapse of time;
- the court's decision;
- liquidation of the debtor;
- reaching agreement through negotiations.
The amounts of claims are written off from account 76 to the account of the reserve for doubtful debts or to financial results (clause 77 of the Accounting Regulations, approved by order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n).
Example 2
Gamma LLC entered into a purchase and sale agreement for materials with Delta LLC for a total amount of 100,000 rubles. Delta LLC is not a VAT payer.
In accordance with the terms of the agreement, Gamma LLC transferred a 50% advance to:
Dt 60 Kt 51 - 50,000 rub. (advance paid).
After the materials were delivered to the buyer, it turned out that the goods were worth 10,000 rubles. defective. The seller received a claim for this amount:
Dt 76/2 Kt 60 - 10,000 rub. (a claim has been made).
The management of Delta LLC got acquainted with the buyer’s requirements and decided to satisfy them, but not in full, but only for the amount of 8,000 rubles, since the goods were worth 2,000 rubles. was not defective, the buyer’s comments to it were unfounded:
- Dt 51 Kt 76/2 — 8,000 rub. (received based on the submitted claim);
- Dt 60 Kt 76/2 — 2,000 rub. (a claim not satisfied by the seller has been written off).
Accounting for dividends
If an organization owns shares or interests in other companies, it is entitled to receive dividends. To reflect such transactions, a subaccount 76/3 “Dividends” is opened.
Accrued amounts are shown on the invoice CT, received - on Dt:
- Dt 76/3 Kt 91/1 - dividends due are charged to other income;
- Dt 51 (50, 52) Kt 76/3 - the organization received dividend amounts.
For more information about accounting for dividends from recipients and payers, read the article .
You can find out more about the nuances of paying dividends in the article .
The article will tell you about the taxation of dividends .
Salary deposit
Deposited amounts are funds that are the employee’s reserved wages, which for some reason he was unable to receive on time. Such money is accounted for in subaccount 76/4 “Deposited amounts”.
According to Kt they show the accrual of amounts in correspondence with account 70: Dt 70 Kt 76/4 - the salary amount is deposited.
Payments of deposited amounts are shown by the entries: Dt 76/4 Kt 50 (51) - deposited salary paid.
If for some reason a company employee never came for the money, and the statute of limitations for such payments has expired, the money is received as other income of the organization: Dt 76/4 Kt 91/1 - the amount of unclaimed deposited salary is included in other income.
Commission agreements
Calculations under commission agreements are also carried out in accounting using account 76. In this case, analytical accounting is carried out for each agreement separately. The principal, the seller of goods, makes the following entries:
- Dt 45 Kt 41 - goods transferred to the commission agent;
- Dt 76 Kt 68 - allocated VAT on the advance received by the commission agent from the buyer;
- Dt 76 Kt 90 - revenue received by the commission agent;
- Dt 90 Kt 45 - sold goods are written off;
- Dt 90 Kt 68 - VAT is charged on the amount of revenue;
- Dt 68 Kt 76 - VAT on advance to be deducted;
- Dt 44 Kt 76 - the intermediary's commission is included in sales expenses;
- Dt 19 Kt 76 - VAT is allocated from the commission amount;
- Dt 68 Kt 19 - VAT on commission to be deducted;
- Dt 51 Kt 76 - money received from the commission agent.
NOTE! Revenue under such contracts is recognized in full, that is, it is not reduced by commission and additional fees. intermediary income.
For information on how to correctly account for VAT and prepare documents during intermediary transactions, read the article .
When concluding agency agreements, accounting is also carried out using account 76. You can read more in the article .
Leasing agreements
The procedure for accounting for transactions under leasing agreements depends on where the subject of the financial lease is listed: on the balance sheet of the recipient company or the lessor.
If the object is on the balance sheet of the lessor, the lessee organization shows such property as leased on off-balance sheet accounts. Records are generated:
- Dt 76 Kt 51 - advance payment paid;
- Dt 001 - the object is accepted for accounting;
- Dt 20 (26, 44) Kt 76 - lease payment due;
- Dt 19 Kt 76 - VAT on payment;
- Dt 68 Kt 19 - VAT deductible;
- Kt 001 - the subject of a financial lease is written off at the end of the contract.
Read more about accounting entries for the lessor and lessee in the material .
If, in accordance with the agreement, the property is placed on the balance sheet of the lessee, the organization accounts for the subject of the financial lease as fixed assets. In this case, the initial cost will be the sum of all transfers reflected in the contract, including advance payments, regular current payments, as well as the redemption fee, if provided.
Results
Thus, account 76 is necessary to account for transactions that are not of a regular nature in the organization. It is suitable for accounting claims, insurance and dividend settlements, intermediary agreements, deposited salaries, financial lease agreements.
In this material, which continues the series of publications devoted to the new chart of accounts, an analysis of account 76 “Settlements with various debtors and creditors” of the new chart of accounts is carried out. This commentary was prepared by Y.V. Sokolov, Doctor of Economics, Deputy. Chairman of the Interdepartmental Commission on Reforming Accounting and Reporting, member of the Methodological Council on Accounting under the Ministry of Finance of Russia, first President of the Institute of Professional Accountants of Russia, V.V. Patrov, professor of St. Petersburg State University and N.N. Karzaeva, Ph.D., deputy. Director of the audit service of Balt-Audit-Expert LLC.
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In the new chart of accounts, the functions of account 76 “Settlements with various debtors and creditors” have been significantly expanded. Of all the accounts used in our modern accounting, this account is used most often. This is due to the fact that the main and bulk flow of payments, as a rule, goes through this account. The abundance of various entries in this account prompted the compilers of the chart of accounts to open a number of sub-accounts, each of which should be intended for strictly defined types of calculations.
The compiler himself identifies four types of calculations, let’s consider them.
Subaccount 1 "Calculations for property and personal insurance"
Settlements with insurance authorities are concentrated on this account. Insurance liabilities are accrued by posting:
Debit 26, 44, 91.2, etc.
Insurance payments are reflected by the entry:
Credit 51 "Current accounts"
When an insured event occurs, the drafters of the chart of accounts propose to write off the lost insured property at the expense of the insurers. However, such a proposal is correct in all cases where the insurance body immediately recognizes its obligations in this particular case. But in real life, the insurer is usually in no hurry to recognize these obligations and often the moment of such recognition stretches out for quite a long time, and sometimes such a case is considered in court or arbitration. Therefore, before the insurer voluntarily and/or compulsorily admits its liability, lost and insured valuables should be taken into account in account 94 “Shortages and losses from damage to valuables.” And only after the insurer recognizes the obligation to compensate for losses, the following entry is made:
Debit 76.1 "Calculations for property and personal insurance"
In this case, the insurer may not fully or partially reimburse the insured amounts and then the following entry is made:
Debit 99 "Profits and losses"
Credit 94 "Shortages and losses from damage to valuables"
Receipt of insurance compensation is documented by recording:
Debit 51 "Current accounts"
Credit 76.1 "Calculations for property and personal insurance"
If we are talking about personal insurance of an employee of an enterprise at the expense of his salary, then in this case the accrual of obligations and deductions for them are recorded in one entry:
Credit 76.1 "Calculations for property and personal insurance"
For the amount of insurance compensation due to an employee of an organization under an insurance contract, an entry is made:
Debit 76.1 "Calculations for property and personal insurance"
Credit 73 "Settlements with personnel for other operations"
Thus, in the case of property and personal insurance, subaccount 76.1 “Calculations for property and personal insurance” always acts as active-passive. Its credit balance reflects the organization's debt for insurance payments, and its debit balance reflects the insurance company's debt for insurance compensation.
Analytical accounting is carried out in the context of insurance organizations, and internally in the context of each individual insurance contract.
Subaccount 2 "Calculations for claims"
The compilers of the chart of accounts suggest immediately debiting subaccount 76.2 “Calculations for claims” as soon as, from the administration’s point of view, a reason for making a claim arises. However, in this case there is a need to reserve the risk that arises in this case. In fact, the administration believes that such and such a supplier, such and such a counterparty, such and such an employee of the company are to blame for the damage incurred by the enterprise. If all suspected legal entities and individuals agree with these claims and sign that they are ready to compensate for the damage caused by them, then no problems arise.
The accountant debits account 76.2 “Calculations for claims” and credits the accounts of missing values, calculations, financial results, etc.
If the persons to whom the claim is presented do not agree in whole or in part with its content, then the accountant has two options:
- debit account 76.2 “Calculations for claims” and credit the accounts of missing valuables;
- debit account 94 "Shortages and losses from damage to valuables"
Whenever account 76.2 “Settlements on claims” is debited, just like any accounts receivable account, you need to take into account the old and wise rule of Luca Pacioli (1494):
No one can be made a debtor without his consent.
Consequently, if we debit account 76.2 “Settlements on claims”, then we have a debt - accounts receivable, and the likelihood that the debtor will agree to this debt may be very far from certain. Hence, the accountant, if he nevertheless acts according to the recommendations of the compilers of the chart of accounts, must immediately accrue a reserve.
Debit 91.2 "Other expenses"
Credit 63 "Provisions for doubtful debts"
If you ignore this rule, then it is always easy to hide shortages, waste, theft, distorting, creating fictitious property in the form of pseudo receivables. And its subsequent and inevitable write-off makes it possible to hide the real profit.
The amount of the accrued reserve must imply an unconditionally justified minimum amount of the claim, the receipt of which there is no doubt.
However, as the poet said, “deception with enchanting melancholy” (S. Yesenin). A person suggests, but a judge disposes. Therefore, it is better for an accountant to adhere to Luca Pacioli’s rule. And for this, he needs, before the defendant recognizes the deficiency or before a court decision, reflect the amount of the claim in the debit of account 94 “Shortages and losses from damage to valuables” and only after the debtor agrees to satisfy the claim, make an entry:
Credit 94 "Shortages and losses from damage to valuables"
At the same time, the court decision, making the defendant’s debt indisputable, does not mean that the defendant will repay this debt: he can challenge the court decision in higher authorities, he simply may not have money, and finally, which happens quite often, by the time the claim is satisfied the defendant may simply cease its activities. Therefore, the use of account 63 “Reserves for doubtful debts” is still necessary, but the amount of these reserves in this case will be significantly less.
However, the main difficulties relate to the moment of recognition of income. The drafters of the instructions assume that the settlement of the claim and, therefore, the recognition of income occurs at the time of payment, i.e. contrary to the accepted accounting logic and the assumption of temporary certainty of the facts of economic life (clause 6 of PBU 1/98), in this case they provide for the cash principle of income recognition instead of the accrual principle accepted in our and, as a rule, foreign accounting. This latter is formulated as follows: “the facts of the organization’s economic activities relate to the reporting period in which they took place, regardless of the actual time of receipt or payment of funds associated with these facts” (clause 6 of PBU 1/98). Since PBU 1/98 was registered with the Ministry of Justice of Russia on December 31, 1998 No. 1673, but there is no chart of accounts, the accounting standards associated with the application of the assumption of temporal certainty are more important and therefore the accountant must follow the following recording scheme:
Debit 94 Credit 41 - 10,000 rub. - the fact of shortage of goods is stated; Debit 76.2 Credit 91.1 - 10,000 rub. - the culprit for the loss of valuables was found; Debit 51 Credit 76.2 - 10,000 rub. - the debtor compensates for the damage caused to the enterprise; Debit 91.2 Credit 94 - 10,000 rub. - the identified loss of valuables is written off.
As a result, the debit of account 91.2 “Other expenses” reflects the loss incurred by the enterprise, and the credit of account 91.1 “Other income” shows the amount of compensation to which the organization is entitled.
If we assume that the debtor will never compensate for the damage caused, then its value must be written off as follows:
Debit 91.2 "Other expenses"
Credit 94 "Shortages and losses from damage to valuables",
and the amount of the claim is reversed:
Debit 76.2 "Calculations for claims"
Credit 91.1 "Other income"
Here we must note that compensation can be made not only with money, but also with other valuables, if, of course, the owner or the administration acting on his behalf agrees with this.
Analytical records are kept for each claim recognized either directly by the perpetrator or by the court.
Subaccount 3 "Calculations for due dividends and other income"
This is an active account and is associated with income from financial investments in other businesses. Others are understood only as organizations enjoying the rights of a legal entity or bound by a simple partnership agreement.
When these enterprises announce payments for the capital invested in them, the investor receives a notification about this, on the basis of which the accountant makes an entry:
Debit 76.3 “Calculations for dividends due and other income”
Credit 91.1 "Other income"
This entry is opposed by the payer’s entry:
Debit 84 "Retained earnings"
Loan 75.2 "Calculations for payment of income"
Please note: the compiler of the chart of accounts in this case clearly follows the assumption of temporal certainty, because income is recognized as the will of the owners of the enterprises where the funds were invested, and not the actual receipt of income in the form of money or some other means.
The fact of receipt of funds is documented by the following entry:
Debit 51 "Current accounts"
Credit 76.3 “Calculations for dividends due and other income”,
And the payer will make a note:
Debit 75.2 "Calculations for payment of income"
Credit 51 "Current accounts".
For the payer in this case, the fact of accrual of payments, not to mention the payment itself, is not considered an expense. This is only recognition of the right of the investor, usually the founder, to a portion of the income.
Analytical accounting is carried out in the context of each organization, which must pay its due share of income.
When considering the characteristics of this subaccount, we should separately dwell on very important operations related to the recording of the assignment of claims. In ordinary life this operation is called:
- purchase (sale) of receivables;
- provision of services related to its collection.
This procedure is too unusual for our accounting, but it can be solved in two main directions. We will call one legal, the second economic. The first requires modification of the fact of economic life, the second permutation. Those. with the legal approach, all assigned receivables are shown in full, and with the economic approach, only the amount of capital actually invested in the acquired receivables is reflected in the asset. In the first case, the acquirer of the concession increases the balance sheet total (modification), in the second case, its structure changes (permutation). We will show what such theoretical approaches lead to in practice using a specific example.
Example
Organization A had receivables under account 62 “Settlements with buyers and customers” - 1,000,000 rubles. For some reason, say, before the payment deadline, organization A ceded the rights to receive this money to organization B for 500 thousand rubles.
Organization B was able to collect 1,000,000 rubles as due. - 600,000 rub.
Considering these transactions for the “buyer” and the “seller”, we are faced with a number of questions:
- Should the “purchase” of receivables be viewed as an acquisition of property or as a financial investment in assets?
- the buyer's asset will be 1,000,000 rubles, i.e. the full scope of the right of claim or 500,000 rubles. - the amount of invested capital?
- Can the “buyer” be considered income of 1,000,000 rubles and an expense of 500,000 rubles, or should income of 400,000 rubles be recognized?
From a legal point of view, the “seller” must make the following entries:
Debit 91.2 Credit 62 - 1,000,000 rub. - according to the assignment agreement, the right of claim from buyers is written off; Debit 51 Credit 91.1 - 500,000 rub. - the compensation received is reflected.
As a result, accounts 91.1 “Other income” and 91.2 “Other expenses” reflect the loss caused by the assignment of the right of claim. Moreover, it should be noted that since the shipment of goods, as a rule, is considered their sale, company A previously reflected the profit included in this receivable. Now this profit and, obviously, part of the cost of goods shipped are written off as a loss. Therefore, in fact, the real loss of organization A is not 500,000 rubles; it should be reduced by the markup that was made when issuing the invoice.
Now let's see how these records will be reflected by the “buyer”.
If we are guided by the requirements of the Civil Code of the Russian Federation, then according to Art. 384, the right of the original creditor passes to the new creditor to the extent and on the conditions that existed at the time of assignment of these rights. Therefore, answering the first question, we must note that the balance sheet asset must reflect receivables in full.
In general, the “buyer”, if it is not a factoring company, and such transactions represent its main activity, should have the following structure of records:
1. Accounts receivable are reflected in full in the debit of account 76.3 “Calculations for due dividends and other income.” Strictly speaking, accounts receivable should be mirrored, i.e. if it was listed on account 62 “Settlements with buyers and customers”, then the assigned rights should be reflected on the same account. However, as a result of the transaction, the nature of the claim, but not its basis, has changed and therefore it would be more correct to reflect it on another account, for which account 76.3 “Calculations for due dividends and other income” was chosen. In this case we are talking about “other income”. If the situation with debit entries is more or less clear, then with credit entries the situation is more complicated. It is clear that the amount actually paid is debited from account 51 “Current accounts”, and the difference between the volume of rights received and the amount of money given for it is shown:
- or under the credit of account 98/1 “Income received for deferred periods.” Proponents of such an entry insist that income can be reflected in full only when the money is received, which follows from the requirement of prudence (clause 7 of PBU 1/98);
- or according to the credit of account 83 “Additional capital”, which is theoretically possible, but practically not very convenient, since it is undesirable to mix financial performance accounts with capital accounts;
- or credit accounts 90.1 “Revenue”, which would go against the letter and spirit of PBU 1/98 (requirement of prudence), because the money has not yet been received and repayment of the debt is usually very doubtful.
That is why we included account 98.1 “Income received on account of future periods” in our scheme. This decision should be considered, if not good, then at least the least bad.
Debit 76.3 - 1,000,000 rubles; Loan 51 - 500,000 rub.; Credit 98.1 - 500,000 rub..
2. Collection of payment, in our case partial, but leading, by mutual agreement of the parties, to full repayment of the debt. In this case, the paid part of it is reflected in the debit of account 51 “Current accounts”, and the written-off part is reflected in the debit of account 98.1 “Income received for deferred periods”.
Debit 51 - 600,000 rub.; Debit 98.1 - 400,000 rubles; Credit 76.3 - 1,000,000 rubles;
3. The real amount of income from the operation is now finally revealed in account 98.1 “Income received for deferred periods.” In our case, the resulting profit is written off to the credit of account 90.1 “Revenue”:
Debit 98.1 Credit 91.1 - 100,000 rubles;
Advantages of the approach. The balance sheet absolutely correctly reflects the value of the enterprise's property. If doubts arise about the possibility of full collection of receivables, the accountant must immediately reserve this doubtful amount. In our case, we would have to write:
Debit 91.2 "Other expenses"
Credit 63 "Provision for doubtful debts"
Funds expected to be received are shown as income for the reporting period only after the payment is made.
Disadvantages of the approach. The value of the asset in this case turns out to be overestimated, because it should reflect not the payment expected to be received, but the capital actually invested in the property.
Now let’s look at the economic interpretation of the operation, since in our country there is a requirement that content has priority over form (clause 7 of PBU 1/98).
Debit 58 Credit 51 - 500,000 rub. - acceptance of receivables under an assignment agreement is reflected as an investment of the amount actually paid;
The receipt of money is reflected in account 51 “Settlement accounts” in the full amount, while account 58 “Financial investments” is credited for invested capital, and account 90.1 “Revenue” shows the result from the sale of receivables.
Debit 51 - 600,000 rub.; Loan 58 - 500,000 rub.; Credit 91.1 - 100,000 rub.
Advantages of the method. The asset shows the actual invested capital.
Disadvantages of the method. The balance sheet does not reflect the actual volume of accounts receivable. Moreover, the main meaning of economic activity turns out to be hidden (veiled), because the main type of property received - accounts receivable - turned out to be transformed into financial investments. This metamorphosis can be confusing for all users of financial statements.
Subaccount 4 "Settlements on deposited amounts"
The verb “deposit” is of Latin origin and literally means “to deposit.” In modern accounting, the meaning of this word has been somewhat changed: it is no longer the employee of the enterprise who deposits money, but the cashier who returns all unclaimed wages, bonuses, dividends and others not received within three days to a bank account.
The accountant makes the following entries:
Debit 70 "Settlements with personnel for wages"
Credit 76.4 “Settlements on deposited amounts” Debit 51 “Bank accounts”
Credit 50 "Cash"
In essence, account 76.4 “Settlements for deposited amounts” is a branch of account 70 “Settlements with personnel for wages”, as it shows the debt for unclaimed wages and other payments on time.
Analytical accounting is carried out in the context of employees who did not receive money on time.
And to complete the analysis of accounting for transactions on account 76 “Settlements with various debtors and creditors,” let us once again draw attention to the fact that this account is used not only for the transactions discussed above, but also “to summarize information on settlements for transactions with debtors and creditors not mentioned in the explanations to accounts 60 - 75."
76 accounting account is an account that accumulates information about financial settlements with counterparties that are not permanent and do not directly relate to the organization’s activities. Relationships with such persons are usually irregular.
Account 76.AB in accounting
Account 76 used in accounting is called “Settlements with various debtors and creditors.” With its help, transactions are recorded that are incorrectly recorded using other records. On the account 76 entries are generated for certain types of business activities, including:
- insurance operations;
- claims settlements;
- deposited amounts of unpaid wages of employees;
- operations on executive documents;
- settlements for advances issued and received;
- accounting for mutual settlements with other counterparties.
Postings to account 76 are generated if it is necessary to fix the amount of legal costs on the basis of administrative documents. If it is necessary to calculate and withhold alimony amounts collected from employees, account 76 is also used.
Count 76 – active or passive?
The final balance for these entries can be of a debit or credit nature, depending on the specified conditions. Debit records any debt owed to the company. The loan collects information on the debts of the enterprise itself to third parties. Therefore, the account belongs to active-passive.
76 account in the balance sheet can be taken into account both in the active part and in the passive part. To do this, its expanded balance is analyzed. Debit balances constitute the asset item “Debit Accounts”. The credit balance increases the liability of the balance sheet under the item “Accounts payable”.
Analysis of account 76
Analytical accounting is maintained separately for transactions. Postings to account 76 form the final balance for each fact of mutual settlements with debtors and creditors. On account 76, subaccounts have many meanings, the most used among them are the following:
- 76.01 - calculations for property and personal insurance. This takes into account operations on life and health insurance of employees and contracts on insurance of enterprise property. Voluntary (within permissible limits permitted by law) and compulsory insurance are taken into account.
- Account 76.02 is used to generate cash flows for claims that have arisen, including the accrual of fines, penalties, and penalties for unfulfilled obligations. Account 76 of subaccount 02 can be applied both in relation to agreements with counterparties and in the event of an outstanding tax debt.
- Using subaccount 76.03, accrued and paid dividends to the founders of the organization are recorded based on the results of the financial year.
- Subaccount 76.04 shows reserved funds for unpaid salaries.
- Account 76.5 in accounting assumes the reflection of other settlements with suppliers and contractors that are not related to the main activities of the enterprise. Account 76.5 includes amounts such as settlements with a notary and the accrual of duty payments. Analytical accounting of account 76.5 is formed separately for each case.
- Account 76.09 in accounting is other settlements with various debtors and creditors, also not related to the main activities of the company. Account 76.09 forms transactions for settlements with auditors, third-party law firms, and reflects the amounts of sponsorship and charitable payments.
- Calculations for third-party debts of employees based on writs of execution, for example, alimony payments, are made using subaccount 76 41.
- Account 76.49 is intended for settlements with the employee for other deductions in accordance with the rules of the organization. Provided that these deductions do not apply to the main ones. Such amounts may include costs for mobile communications and assets purchased within the enterprise.
- Subaccounts 76.AB and 76.VA contain VAT amounts on advances issued and received, respectively. The used account 76 allocates VAT separately from the amounts of advance payment received or on the transferred advances against future deliveries.
The list of presented subaccounts can be supplemented, depending on the nature of the activity and operating conditions of the enterprise, not limited to the movement of funds through subaccount 76.09.
Standard entries to account 76 are used to record transactions that are not involved in the main activities of the enterprise and are of an irregular nature. On the contrary, the balance sheet for account 76 gives an idea of the status of settlements under individual contracts. To simplify the analysis of mutual settlements with other counterparties, the use of various sub-accounts is allowed, including account 76.05 or 76.09 (account for mutual settlements with other counterparties).
Account 76.AB
The used accounting account 76 is a reflection of other calculations of a legal entity. In cases of receipt of prepayments from counterparties or transfer of advances to suppliers, account 76.AB or account 76.VA is intended for accounting for VAT amounts.
If the payment received precedes the fact of shipment of the goods, then an advance invoice must be generated for the buyer within the next 5 days. In accounting, the use of posting 76.AB will mean reflecting the amount of allocated VAT:
- Dt 51 - Kt 62 - advance amounts received from buyers
- Dt 76.AV - Kt 68 - allocated VAT on prepayment
How to write off 76.AB? After shipment of the goods, it is possible to apply a deduction for the previously accrued advance tax. Accordingly, the entry in the purchase book will look like:
- Dt 68 ― Kt 76.AV
By analogy, correspondence from account 76.VA is used for advance payments transferred to the suppliers’ account:
- Dt 60 - Kt 51 - prepayment is made to the supplier;
- Dt 68 - Kt 76.VA - claimed VAT deduction on the advance invoice;
- Dt 76.VA - Kt 68 - reflection of the tax amount after offset of the prepayment in the sales book.
Receiving an advance payment obliges the seller to calculate tax on the amounts received to the budget with subsequent offset upon shipment. Accounting for the allocated amount of tax in the advance invoice by the buyer is his right.
In addition to the main relationships with partners, a business entity may have one-time transactions of a very different nature - property and personal insurance, claims, settlements on writs of execution, etc. To reflect information on transactions with these debtors and creditors, accounting account 76 is used - settlements with different debtors and creditors.”
76 accounting account is a register on which information about the organization’s relationships with other persons is reflected. At the same time, it reflects the debt of the enterprise itself, as well as existing debts to the business entity.
The peculiarity of the transactions reflected on this account is that they are of a secondary nature in the implementation of activities. That is, these operations do not occur on a regular basis and it makes no sense to allocate subaccounts for them in the accounts where the main debtors and creditors of the organization are reflected. It follows that this account includes those transactions that cannot be reflected on accounts 60 to 75.
First of all, it summarizes information on property and personal insurance when an organization receives claims, when making settlements related to enforcement proceedings against company employees (alimony, other deductions, etc.), as well as to reflect salary deposit transactions ( if it is not received on time).
Account characteristics
Examples of accounting entries for account 76
The following transactions can be made with this account:
| Debit | Credit | Name |
| 76 | 20, 23, 29 | Write-off of part of the costs of main, auxiliary or servicing production to other debtors or creditors |
| 76 | 21 | Sales of our own semi-finished products |
| 76 | 28 | Write-off of losses from marriage |
| 76 | 41 | Returning defective goods to the supplier |
| 76 | 43 | Reflection of the debt of other debtors for shipped commercial products |
| 76 | 50 | Payment of accounts payable in cash from the cash register |
| 76 | 50 | Return of funds from the cash register to the buyer (other creditor) |
| 76 | 51, 52, 55 | Payment of accounts payable with money from a current account, foreign currency account or from special accounts |
| 76 | 60 | Accounts payable for other transactions are reflected |
| 76 | 68/VAT | Reflection of VAT debt |
| 76 | Unpaid wages have been deposited | |
| 76 | 86 | Targeted funding received from the budget |
| 76 | 86 | Membership (entrance) fees have been charged to the partnership |
| 76 | 91 | Interest accrued on bonds |
| 76 | 08 | Writing off work that did not bring the desired result |
| 76 | 91/1 | Reflection of income from other sales |
| 76 | 91/2 | Write-off of receivables that are not collectible |
| 04 | 76 | The company's positive business reputation is reflected |
| 08 | 76 | Reflection of costs for exclusive copyright of a computer program |
| 76 | Materials purchased from another supplier | |
| 15 | 76 | Reflection of costs for procurement of materials |
| 19 | 76 | Reflection of input VAT on work (services) of another creditor |
| 20 | 76 | Inclusion of costs for other operations in production costs |
| 23 | 76 | Inclusion of costs for other operations as part of costs for auxiliary production |
| 41 | 76 | Receipt of goods from other creditor |
| 44 | 76 | Inclusion of costs for other operations as part of sales expenses |
| 50 | 76 | Received payment from other debtor in cash to the cash desk |
| 51, 52, 55 | 76 | Payment received from another debtor to a current account, foreign currency account or special account |
| 57 | 76 | Reflection of a transfer that has not yet been received from another debtor |
| 58 | 76 | The purchase of shares and securities is reflected |
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