Monetary and non-monetary forms of payment and assessment of their effectiveness. Accounting for non-monetary forms of payment Form 169 concept of monetary and non-monetary settlements
Information on the institution's receivables and payables (f. 0503169) (hereinafter Information (f. 0503169)) is included in the Explanatory Note to the institution's Balance Sheet. The frequency of submission of this form is as of July 1, October 1, January 1 of the year following the reporting year. The procedure for filling out the Information (f. 0503169) is regulated by clause 167 of the Instructions, approved. by order of the Ministry of Finance of Russia dated December 28, 2010 No. 191n.
The information (f. 0503169) contains generalized data for the reporting period on the status of settlements for receivables and payables of the subject of budget reporting in the context of types of settlements. The form is drawn up separately for accounts receivable and separately for accounts payable.
Information (f. 0503169) on accounts receivable are filled in according to the following accounts:
- 0 206 00 000 "Settlements on advances issued";
- 0 303 00 000 "Calculations for payments to budgets."
Information (f. 0503169) on accounts payable is filled in for the following accounts:
- 0 205 00 000 "Income calculations";
- 0 208 00 000 "Settlements with accountable persons";
- 0 209 00 000 “Calculations for damage and other income”;
- 0 302 00 000 "Settlements for accepted obligations";
- 0 303 00 000 "Calculations for payments to budgets";
- 0 304 02 000 "Settlements with depositors";
- 0 304 03 000 “Calculations for deductions from wage payments”;
- 0 304 06 000 "Settlements with other creditors."
As can be seen from the list, some active-passive accounts, such as 0 205 00 000, 0 208 00 000, 0 209 00 000, 0 303 00 000, may appear both in the Information (f. 0503169) for accounts receivable and in the Information (f. 0503169) for accounts payable.
Note that the indicators for account 0 304 06 000 in the Information (f. 0503169) at the end of the year are reflected after the final turnover in the budget accounting accounts carried out at the end of the financial year.
What's new in the Information (f. 0503169)?Information (f. 0503169), generated as of October 1, 2018, must be provided with full detail on settlement accounts in accordance with the instructions for budget (accounting) accounting. This means that calculation indicators in the form must be reflected by accounts, for example, 205 31, 205 35, 302 93, 302 95, etc.
Also, the Information (f. 0503169) should additionally disclose information on accounts (in the context of KOSGU):
- 401 40 XXX "Deferred income";
- 401 60 XXX "Reserves for future expenses."
Section 1 of the Information (f. 0503169) reflects the amounts of the institution's receivables and payables. It also reflects the amounts for which, within the period stipulated by the legal basis for the occurrence of the debt (agreement, contract), the obligations were not fulfilled by the creditor (debtor).
Column 1 of the Information (f. 0503169) indicates the numbers of the corresponding analytical accounts. The budget accounting account numbers reflected in column 1 must contain codes in the corresponding digits of the budget accounting account number budget classification, operating in reporting period. Codes of the analytical group of the type of sources of financing budget deficits in the corresponding digits of the budget accounting account number are reflected with the value “zero”.
Indicators at the beginning and end of the reporting period
The total amount of receivables (payables) as of the beginning of the year and at the end of the reporting period is indicated in columns 2, 9.
Column 12 indicates the total amount of receivables (payables) as of the end of the same reporting period of the previous financial year.
Indicators of overdue and long-term debt
Data on debt, the due date of which, according to the legal basis for its occurrence, exceeds 12 months from the reporting date, is indicated in columns 3, 10, 13.
Data on unfulfilled obligations at the beginning of the year, at the end of the reporting period and the end of the similar reporting period of the previous financial year, for which the deadline for fulfillment has already arrived, and overdue receivables are indicated in columns 4, 11, 14.
Indicators for changes in debt and non-cash settlements
The total amount of the increase in accounts receivable (payable) with the reflection of amounts for non-cash settlements is reflected in columns 5 and 6, respectively.
The total amount of reduction in accounts receivable (payable) with reflection of amounts for non-cash settlements is reflected in columns 7, 8.
Operations to clarify the budget classification codes for calculations of the current financial year are reflected in column 5 with a “minus” sign for the updated code and with a “plus” sign for the updated code (in terms of expenses listed in the form of repayment of accounts payable).
The formation of indicators for non-cash settlements is carried out on accounts 0 206 00 000, 0 302 00 000. Note that non-cash settlements are understood as operations to increase (decrease) accounts receivable (payable), with the exception of settlements reflected in correspondence with the corresponding accounts of analytical accounting of accounts 120121000, 120122000, 120123000, 120127000, 120134000, 121002000, 120200000, 120300000, 121004000, 121003000, 130405000). . An example of non-monetary settlements can be operations to offset a penalty presented to a counterparty against the payment of accounts payable under an agreement (contract).
The procedure for filling out section 2 of the Information (f. 0503169)Section 2 of the Information (f. 0503169) contains analytical information about the institution’s overdue accounts payable (receivables).
Columns 1 and 2 indicate the numbers and amounts of the corresponding analytical accounts of the account, for which the balances are reflected in column 11 of section 1 of the Information (f. 0503169).
Columns 3, 4 reflect (in the format "MM.YYYY") the date of occurrence of the institution's overdue accounts payable (receivable) and the date of its execution on a legal basis (agreement, account, regulatory legal act, executive document and so on.).
Columns 5, 6 indicate the taxpayer identification number (TIN) of the creditor (debtor), as well as the name of the creditor (debtor). If the creditor (debtor) is an individual, column 5 indicates the value “0000000000”. If the counterparty is a non-resident, column 5 reflects the value “1111111111”.
Columns 7 and 8 indicate the reason for the formation of overdue accounts payable (receivable) of the institution.
At the same time, the criteria for determining the indicators reflected in section 2 of the Information (form 0503169) (amount of debt, date of occurrence, other criteria) are established:
- for chief administrators of budget funds - by the financial authority of the corresponding budget;
- for recipients of budget funds - the main manager of budget funds, taking into account the criteria established by the financial authority of the relevant budget.
Article prepared
Non-monetary forms of payment can be used either independently or in combination with cash payment methods as part of the repayment of a specific obligation. In particular, the debtor company can cover one part of the debt with certain products, and the second with cash.
At the moment, non-cash forms of payment are one of the most popular payment methods among enterprises experiencing a serious shortage of working capital. In addition, now the legislation of most countries does not create any obstacles to the implementation of this particular form of payment.
Experts distinguish 4 main types of non-monetary forms of payment.
Bill of exchange Bill of exchange is one of the most popular non-cash forms of payment. Such securities are duly executed debt obligations, according to which the drawer must pay the bearer of the security the amount indicated in the document.The repayment terms of the debt are specified in the bill itself. They can vary and range from several days to 2-3 years. Sometimes the obligation is supplemented by a clause stating that the drawer is obliged to pay off all his obligations after such a demand is presented.
There are 2 types of bills:
- simple - all responsibility for repaying obligations lies with the drawer;
- transferable - provide for the liability of third parties (for example, banking structures in whose accounts the drawer's funds are located).
In order for barter to be successful, the parties to the transaction must agree on several basic points, the most important of which is to clarify the ratio of the cost of goods and services in relation to each other. During the process of concluding a contract, the value of certain product groups may vary greatly depending on their liquidity and demand by the other party.
Barter transactions are especially widespread during a difficult financial situation in the country. The reason for increasing their numbers in most cases is hyperinflation.
Offsetting Offsetting is the repayment of obligations and debts by drawing up a special agreement, according to which the parties cover their debts not with cash, but with services and products. The number of participants in such a transaction is not limited.The main obstacle to mutual settlements is the small circle of partners. In fact, the company’s choice in this matter is limited only by its partners in various fields activities.
Trade credit Trade loans are ordinary loan obligations, the peculiarity of which is that lenders provide not cash, but certain products that meet a number of requirements. After receiving the latter, the borrower can carry out any actions with it.Paying off trade credits also involves one interesting detail - returns can be made both in cash and in products. However, there are no clear rules saying that it must be identical to the one that was taken out on credit - it is enough that its value covers all debt obligations.
The economy of any state is a network of diverse relationships of a large number of economic entities included in it among themselves, as well as with the outside world. These relationships end with monetary settlements.
Payment is a paid transfer of ownership (economic authority, operational management) of a product from the supplier (seller) to the buyer. It is bilateral, that is, it is carried out between two persons. Settlements are carried out in the form of monetary exchange, through the movement of cash or non-cash funds.
Organizations do not always have enough available funds to purchase property, equipment, goods or materials. There are other opportunities that can be used to conduct active business activities. If an organization is experiencing cash constraints, then various non-monetary forms of settlements with partners can be used.
Non-cash settlement is a procedure for repaying obligations that excludes cash flow.
To non-monetary forms of payment, according to Ch. 21 of the Tax Code of the Russian Federation (TC RF), includes commodity exchange and barter transactions, transfer of goods, services under an agreement on the provision of compensation or novation, as well as on a gratuitous basis, issuance of shares in the authorized (share) capital in kind, loan of things, trade credit, settlements with bills of exchange, assignment of claims, write-off of receivables, transfer of goods, works, services when paying for labor in kind.
In calculations for commodity transactions, the most widespread from the point of view of the practical activities of enterprises are the following types non-cash payments:
Commodity exchange operations,
Offsets,
Bill payments.
Let us define the essence of each type of non-monetary payment in more detail.
IN modern conditions In the work of enterprises, barter or exchange transactions are sometimes used. In a situation where the parties exchange one product for another, an exchange agreement is concluded. Under such an agreement, each party is the seller of the goods that it undertakes to transfer, and the buyer of the goods that it undertakes to accept in exchange. Each party to a commodity exchange transaction simultaneously sells goods in exchange for the acquisition of new goods. It is generally assumed that the items exchanged are of equal value. If, in accordance with the barter agreement, the goods exchanged are recognized as unequal, the party obligated to transfer the goods, the price of which is lower than the price of the goods provided in exchange, must pay the difference in prices immediately before or after fulfilling its obligation to transfer the goods, unless a different payment procedure is provided for by the contract.
Offsetting mutual claims is a rather complex and complex operation and therefore must take place with the participation of not only accounting and financial services, but also legal supply, sales and other divisions of the enterprise. Their close interaction and cooperation is an indispensable condition for the correct and legally competent registration of offsets.
If the organization's counterparty is both a supplier and a buyer, a situation arises when both persons participating in transactions become each other at the same time a creditor under one agreement and a debtor under another. Termination of the obligation in whole or in part in this case can be carried out by offsetting the counterclaim (offset).
Offsetting is a method of terminating obligations in which two counter obligations are paid off simultaneously. The following signs (mandatory conditions) for the test are identified:
1. The same persons (business entities). Participants in two or more obligations, on the basis of which counter homogeneous claims arise. In practice, through offset, claims that arose on the basis of different agreements between the same persons are more often repaid.
2. Counter nature of the claims subject to offset. Each of the economic entities is a debtor for some obligation, therefore, the claim of another economic entity is addressed to it, and a creditor for another obligation, the claim for which now comes from it.
3. Uniformity of counterclaims. Counterclaims must be homogeneous in nature, in other words, they must have the same object, usually money.
4. The emergence of counter homogeneous claims. The following claims can be settled through offset:
– whose deadline has come;
– the period of which is not specified;
– the period of which is determined by the moment of demand
Non-monetary forms of payment are various ways repayment of mutual financial obligations without the use of funds. Such obligations arise, for example, when supplying raw materials to an enterprise, finished products trading company, issuing loans, etc.
Non-monetary forms of payment can be combined with monetary ones as part of the fulfillment of one obligation. For example, an enterprise can repay part of its debt to a supplier of raw materials with its products, and part with money.
Companies experiencing a lack of working capital usually resort to non-cash forms of payment. In principle, nothing prevents you from carrying out settlements without the participation of money and if the enterprise has a sufficient amount of working capital.
However, under normal conditions, the spread of non-monetary forms of payment is limited by two main factors. First, money substitutes that are used in non-monetary transactions have less liquidity than money. This means that it is more difficult to exchange them for something needed by a given participant in economic activity. For example, it is easy to buy a combine harvester for money, but the seller of the combine harvesters may refuse to accept a bill of exchange or some product. The low liquidity of money substitutes makes non-cash settlements more labor-intensive and often slower.
Secondly, taxation in non-monetary transactions is different from taxation in the use of money. Until 2009, in Russia, the law obliged when making non-cash payments to pay VAT to the counterparty on the basis of a separate payment order, that is, in “real” money. This, of course, limited the possibilities of non-cash payments, the need for which was precisely caused by the enterprise’s lack of funds.
From January 1, 2009, this obligation was abolished by amendments to the Tax Code of the Russian Federation, and non-cash payments for Russian companies became more attractive. However, the proliferation of non-cash payments reduces the taxable base (the total amount on which taxes are calculated), so such transactions are not encouraged tax authorities.
In times of crisis, more and more enterprises are beginning to experience a shortage of working capital. Simply put, they do not have enough money to pay each other for raw materials, products, electricity, pay salaries, etc. At the same time, an enterprise may have a sufficient portfolio of orders, its suppliers are also interested in continuing supplies of raw materials, etc. But lack of money “freezes” production chains. To expand them, non-monetary forms of payment are increasingly being used.
The main types of non-cash payments are bills, barter and offsets.
Bill of exchange
A bill of exchange is a type of security of a strictly established form, which is an unconditional monetary obligation of the drawer to pay a certain amount. In fact, a promissory note is a promise to pay a certain amount, issued in lieu of money.
The maturity date (the day no later than which the drawer is obliged to pay money to the bearer of the bill) is indicated on the bill itself. This may be a certain date, a certain time period after preparation or after presentation. There are also bills of exchange, the payment period for which is determined by the moment the bill is presented for redemption.
The basis for payment by the drawer is the fact of presentation of the bill. In this case, the bill itself passes to the drawer. The obligations under the bill are indisputable. The drawer cannot change the terms of payment or evade it. The holder of the bill has no right to demand repayment of the bill ahead of schedule its repayment.
If a bill of exchange was presented to the drawer for payment in accordance with its maturity date, and the drawer did not pay on it, the holder of the bill has the right to protest the bill. He presents the bill to the notary's office at the location of the payer, after which legal proceedings can begin.
A distinction is made between a promissory note and a bill of exchange. In the first case, liability for the bill is borne directly by the drawer; in the second, the payer is a third party. Most often this is the bank in which the drawer has an account, but there may also be another legal entity or individual who has monetary obligations to the drawer. In this case, the drawer actually transfers his right of claim. Accordingly, the holder of the bill of exchange faces additional risks of non-payment of the bill caused by the inability of this third party to fulfill its obligations.
A bill of exchange can be order or registered. A bill of order can be presented for redemption by any person, but a registered bill can only be presented by the person in whose name it is issued. The transfer of rights of claim under a registered bill of exchange is carried out by means of endorsement (endowment note). Moreover, the obligation to repay the bill upon such transfer is borne by both the drawer and the person who transferred the bill. For example, Ivanov wrote out a personal promissory note to Petrov, under which he undertakes to pay one hundred rubles. Petrov handed the bill to Sidorov. If Ivanov refuses to pay Sidorov, Petrov will have to repay the bill. To transfer a bill of order, endorsement is not required.
Bills of exchange, like other securities, can be bought and sold at a negotiated price. The price may be higher or lower than the face value of the bill. More often, of course, it is lower. Bills of exchange are sold at a discount from their face value, for which the risk of the drawer’s failure to fulfill its obligations is considered to be quite high.
The drawer himself can act as the buyer of the bills. Quite often, selling bills to the drawer himself is the simplest, most reliable and fastest way for bill holders to receive at least part of the amount if the drawer cannot fully repay his bills.
If the holder of the bills is not interested in receiving funds by repaying them, but in seizing control of the enterprise, he will not sell the bills to the person who issued them, and can even buy them from other owners at a premium to the face value. If the drawer is unable to repay the bills presented to him, he may be declared bankrupt. Management in this case actually passes to creditors, including holders of outstanding bills.
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Bills of exchange, like other securities, can also be used as collateral for a loan, as a means of payment between third parties, etc.
In Russia, all transactions with bills of exchange are regulated by the law “On promissory notes and bills of exchange”. At the same time, Russia adheres to the “Uniform Bill of Exchange Law” adopted in Geneva in 1930 and signed by most European countries. In countries that have not acceded to the Geneva Bill of Exchange Conventions, such as the UK and the USA, the procedure for using bills of exchange is regulated by other laws and regulations.
Barter
A barter transaction involves an exchange of goods or services in kind between two or more parties. The terms of the transaction are established by its participants and are specified in the contract.
In this case, the price of the goods and services provided can be any. There are no restrictions on the maximum size of a barter transaction, and the parties can agree on any ratio of values of the goods and services exchanged. For example, a cubic meter of timber can be exchanged for a ton of diesel fuel or half a ton - as the parties to the transaction agree.
When offering his goods for exchange, its owner usually implies some kind of approximate cost consignment of goods in money, and expects to receive in exchange another product for approximately the same amount. But since different types goods are needed by different numbers of participants in barter exchanges; the value of a product depends not only on its price when purchased for money, but also on the ease of finding a partner willing to accept this product in exchange for his own. Goods that a larger number of exchange participants are willing to accept become “more expensive,” and goods for which it is difficult to find people willing to receive them in exchange for their goods become “cheaper.”
Therefore, the exchange ratios of various goods that develop in barter transactions may differ significantly from the ratios of their prices in money. This difference can make barter transactions more profitable for producers of certain goods than selling for money.
Barter is always present to some extent. But for a significant expansion of this practice, a serious disruption to the functioning of the monetary system is required. For example, hyperinflation of the national currency simultaneously with a ban on payments in foreign currency or a very small amount of this currency at the disposal of private companies. In Russia, for example, such a situation arose in the early 90s.
Whether the current crisis will lead to the destruction of the monetary system is unknown. So far there has been no obvious movement in this direction. But the lack of working capital among Russian enterprises, caused by a reduction in bank lending, encourages them to resort to barter.
In Russia, many electronic barter exchanges have recently appeared, offering individuals and legal entities exchange goods and services. A company registered on such an exchange leaves an advertisement on the website about its needs and capabilities. “Barter pairs”, as a rule, are selected automatically from the database. The exchange receives a percentage of the transaction and, in some cases, additional income from its support.
How to properly formalize and carry out accounting for a barter transaction is described in detail on the websites of some electronic barter systems. For example, there is such a section on the website of the ROSBARTER exchange.
Settlement
Offsetting allows you to terminate the mutual obligations of companies by documenting the agreement of the parties on the mutual repayment of obligations to pay for goods or services provided to each other. In this case, money does not pass from one participant in the transaction to another.
According to Article 410 of the Civil Code of the Russian Federation, an application from one of the parties is sufficient for offset. However, only those obligations can be accepted for offset, the deadline for which has already expired, that is, they have become debts.
More than two parties are allowed to participate in mutual settlement relationships. In this case, a prerequisite is the closure of the chain of debts and their uniformity. The closure of the chain means that the settlement extinguishes the mutual obligations of all participants in the transaction to each other. If A owes B, and B owes A, the result of the set-off must be the disappearance of both debts. If the debts are not equal, when netting is carried out, the larger debt is partially repaid, and one of the parties to the transaction remains indebted to the other.
The difficulty of organizing mutual offsets is that finding partners with mutual debt can be difficult. In fact, their choice is limited to partners in production, trading or financial activities. Various methods of assigning rights to claim debt, for example, bills of exchange, help solve this problem.
Trade credit
A commodity loan is a loan obligation under which the lender provides the borrower with goods with strictly defined characteristics (quantity, assortment, manufacturer, etc.). For example, a farmer may lend cucumbers to a grocery store. With the received goods, the borrower has the right to perform any actions provided for by law (sell, transfer for sale, etc.).
Repayment of a trade loan can be made either in goods or in money. Moreover, the product does not have to be the same. Therefore, in case of non-compliance with the conditions specified in the trade credit agreement regarding the characteristics of the goods, the transaction can be regarded as barter.
Under a trade credit agreement, the creditor has the right to charge interest, the payment of which is allowed both directly in money and in goods. The amount and procedure for paying interest on the loan and the responsibility of the parties in case of failure to fulfill the terms of the agreement are established by the parties and are described in. If the amount of interest is not specified in the agreement, it is determined in accordance with the refinancing rate.
Conclusion
Non-monetary forms of payment, when used correctly, can help an enterprise out in a difficult situation. Their use is completely legal, and demand has already generated a fairly large supply of intermediary services related to ensuring such payments.
However, there are also specific risks of non-monetary forms of payment. For example, bills that a company cannot repay on time can be used for a hostile takeover (see above for more details).
In addition, the transition to predominantly non-cash payments makes it difficult to plan the financial indicators of the enterprise, and can significantly change them if in the barter system the ratio of values, for example, raw materials and finished products, is significantly different from the price ratios in cash payments.
And finally, carrying out such transactions is fraught with many pitfalls in terms of accounting and tax payment. And before you begin non-monetary payments, you need to figure out all these subtleties.
"Financial newspaper", 2007, N 13
According to Art. 408 of the Civil Code of the Russian Federation, the obligation is terminated by its proper fulfillment. However, if the organization does not have funds, civil law provides for several more ways to pay off debt to suppliers: an agreement to provide compensation, novation of debt, settlements with bills, assignment of claims or offset of mutual claims. Each form of non-monetary payments has its own characteristics in terms of income tax, VAT, and accounting.
Settlement of mutual claimsSometimes organizations in relation to each other can act as both a debtor and a creditor. In this case, if there is no available cash, the debt can be repaid by offsetting mutual claims. Article 410 of the Civil Code of the Russian Federation establishes the basic requirements for offset:
homogeneity of counterclaims, i.e. the parties' requirements for each other must be qualitatively comparable;
the fact of the maturity of obligations, i.e. a netting transaction is recognized as valid if the repayment dates of the obligations have already arrived or are not determined by the terms of the contracts.
More than two organizations can act as participants in mutual offset transactions, provided that the specified requirements are met.
Registration of mutual offset occurs as follows. Before drawing up a transaction, companies need to reconcile mutual settlements and issue reconciliation reports. The reconciliation act is a document not contained in the albums of unified forms, therefore it is drawn up in free form in compliance with all the necessary details specified in clause 2 of Art. 9 of the Federal Law of November 21, 1996 N 129-FZ “On Accounting”. Also in the reconciliation report it is necessary to indicate all the details of the documents on the basis of which the debts arose and the amount of the debts. After completing all reconciliation reports, one of the organizations must write an application for offset. The offset comes into force from the moment such a statement is received by the other parties - participants in the offset.
After completion of the transaction, the parties draw up an act of mutual settlement to state that the expressed intention has been realized. The act does not have a unified form, therefore it is developed and agreed upon by the parties. Its form must also meet the requirements for primary documents set forth in Art. 9 of Law No. 129-FZ.
A number of organizations - creditors and debtors - take part in multilateral netting. Multilateral offset is formalized, as a rule, by an offset agreement.
Example 1. In the accounting records of organization "A" there is an overdue accounts payable to supplier "B" in the amount of RUB 354,000. (including VAT RUB 54,000) for materials received. The organization’s accounting also includes accounts receivable from supplier “B” for consulting services provided in the amount of RUB 118,000. (including VAT RUB 18,000).
Debit 10, Credit 60 - 300,000 rub. - purchased materials are capitalized,
Debit 19, Credit 60 - 54,000 rub. - reflected VAT presented by the supplier,
Debit 68, Credit 19 - 54,000 rub. - accepted for deduction of VAT on purchased materials,
Debit 62, Credit 90 - 118,000 rub. - revenue from the provision of consulting services is reflected,
Debit 90, Credit 68 - 18,000 rub. - VAT charged,
The following entries are made in the accounting records of supplier “B”:
Debit 26, Credit 60 - 100,000 rub. - reflects the cost of the consulting services received,
Debit 19, Credit 60 - 18,000 rub. - “input” VAT is reflected,
Debit 68, Credit 19 - 54,000 rub. - accepted for deduction of VAT on consulting services,
Debit 62, Credit 90 - 354,000 rub. - revenue from the sale of materials is reflected,
Debit 90, Credit 68 - 54,000 rub. - VAT charged,
Debit 60, Credit 62 - 118,000 rub. - mutual claims have been offset.
Thus, as a result of offset, the obligations of organization “A” to supplier “B” will be reduced by 118,000 rubles, and the obligations of supplier “B” to organization “A” will cease completely.
Note that if the initial obligations arose in 2006, then both parties to the offset can accept “input” VAT for deduction only on the basis of the seller’s invoice, the capitalization of the received values and the intention to use them in activities subject to VAT, and regardless of the fact payment for goods (work, services) received on the basis of Art. 171 Tax Code of the Russian Federation.
When calculating income tax in the case of offset, no special features are provided. A taxpayer using the accrual method does not carry out additional operations in tax accounting to reflect the offset: both income and expenses under the agreements under which the offset is made are reflected before the offset is carried out. Under the cash method, the seller’s revenue is reflected on the day the debt is repaid by offsetting mutual claims (clause 2 of Article 273 of the Tax Code of the Russian Federation). At the same time, an expense is taken into account in the amount of the offset debt of the taxpayer to the counterparty.
Compensation and novation of debtIn the Civil Code of the Russian Federation, compensation and novation are considered as forms of termination of obligations. But these concepts are different. In case of compensation, obligations are terminated by providing something other than what was provided for in the original agreement (Article 409 of the Civil Code of the Russian Federation). The amount, terms and procedure for providing compensation are established by the parties. In case of novation of a debt, the obligation is considered extinguished when the parties enter into an agreement to replace the original obligation with another obligation providing for a different subject or method of fulfillment (clause 1 of Article 414 of the Civil Code of the Russian Federation).
Thus, if an organization has a debt, for example, for goods received, then by concluding a compensation agreement instead of money, the organization can provide its supplier with certain services or perform work. After the transfer of compensation, the obligation can be considered properly fulfilled.
However, if instead of the previous obligation (to pay for goods received), the organization assumes a new obligation (to repay the loan in the amount of accounts payable for goods and interest on it), then this is already a novation of the principal debt into debt under the loan agreement.
Basic recommendations for processing compensation or debt novation are discussed in Newsletters Presidium of the Supreme Arbitration Court of the Russian Federation dated December 21, 2005 N 102 “Review of the practice of application by arbitration courts of Article 409 of the Civil Code Russian Federation" and dated December 21, 2005 N 103 "Review of the practice of application by arbitration courts of Article 414 of the Civil Code of the Russian Federation". Such transactions should be drawn up in the same form as the main agreement, but with changes to the conditions or type of termination of obligations. The compensation agreement must indicate the deadline for its provision, otherwise the creditor, after signing the agreement, will be able to demand the provision of compensation immediately after signing the relevant agreement. Moreover, as stated in Letter No. 102, the transfer of compensation terminates the entire debt, regardless of the amount of the debt and compensation. Therefore, if, when drawing up the compensation agreement, the parties. imply the termination of only part of the debt, this must be explicitly stated in the contract, otherwise all of the debtor’s obligations will be considered extinguished (clause 3 of Letter No. 102).
If the parties have agreed to terminate the obligation by novation of the principal debt, then the courts, as stated in Letter No. 103, require that the new novation agreement comply with the form established for it by law. For example, if the Civil Code of the Russian Federation provides for mandatory notarization or compliance with the written form of the agreement, then regardless of the terms of the original transaction, the new agreement must comply with the requirements of the Civil Code of the Russian Federation and contain all the necessary essential conditions. An important condition when concluding an agreement on compensation or novation is the condition at which moment the main obligation terminates. For example, if the agreement stipulates that the compensation is provided in parts, then the main debt is repaid in proportion to the provided part of the compensation (clause 5 of Letter No. 102).
In accounting, when concluding compensation or novation agreements, you should keep in mind clause 6.4 of PBU 9/99, according to which, in the event of a change in the obligation under the contract, the initial amount of receipts and (or) receivables is adjusted based on the value of the asset to be received by the organization. A similar rule is provided for expenses: in the event of a change in the main obligation under the contract, the initial amount of accounts payable is adjusted based on the value of the asset to be disposed of to pay off the obligation (clause 6.4 of PBU 10/99).
If the new obligation exceeds the original in amount, then the initial price of the acquired assets increases by the amount of the excess:
Debit 08, 10, 41, Credit 60, 76 - as a result of a compensation agreement (novation of debt) exceeding the original obligation, the initial cost of the acquired assets was increased,
Debit 19, Credit 60, 76 - “input” VAT has been adjusted.
If the original obligation is changed downward, then the change in accounting initial cost reflected by reversal entries:
Debit 08, 10, 41, Credit 60, 76 - the amount of the difference between the original and new debt is reversed,
Debit 19, Credit 60, 76 - the amount of the change in “input” VAT is reversed.
In tax accounting, the seller registers as income subject to income tax, revenue in the amount specified in the initial contract for the supply of goods (work, services) on the basis of clause 1 of Art. 249 of the Tax Code of the Russian Federation. VAT is also charged on the initial amount of the contract (Article 146 of the Tax Code of the Russian Federation). And if the compensation agreement is concluded for a large amount, then the VAT tax bases are adjusted upward. However, if an organization decides to forgive part of the debt and agrees to a novation or compensation in an amount less than the initial obligation of the debtor, then the tax bases are not subject to downward adjustment, since part of the goods (work, services) will be considered transferred free of charge. And expenses in the form of the cost of gratuitously transferred property (work, services), property rights do not reduce the tax base for income tax (clause 16 of Article 270 of the Tax Code of the Russian Federation) and are considered an object subject to VAT (clause 1 of Article 146 of the Tax Code of the Russian Federation ).
A buyer who enters into a compensation agreement (novation), under which he undertakes to transfer property, should remember that this operation is considered a sale and the cost of the transferred property is subject to VAT (clause 1, clause 1, article 146 of the Tax Code of the Russian Federation). In addition, the cost of the transferred goods must be included in the tax base for income tax (Article 249 of the Tax Code of the Russian Federation).
If the buyer transfers products for an amount less than the amount of the original debt, then the organization will consider part of the accounts payable outstanding, and since compensation and novation terminate all initial obligations, then part of the outstanding debt will be recognized by the purchasing organization as non-operating income (clause 18 of Art. . 250 of the Tax Code of the Russian Federation) and increases the tax base for income tax. The amount of “input” VAT attributable to outstanding accounts payable is included in non-operating expenses (clause 14, clause 1, article 265 of the Tax Code of the Russian Federation).
Example 2. Organization "A" shipped products to organization "B" worth 236,000 rubles. (including VAT 36,000 rubles), cost of shipped products 150,000 rubles. Organization "B" was unable to pay for the products received on time and proposed to conclude a compensation agreement, according to which organization "B" repays its obligations by supplying organization "A" with goods in the amount of 212,400 rubles. (including VAT RUB 32,400). The cost of the goods is 180 thousand rubles.
The following entries are made in the accounting records of organization “A”:
Debit 62, Credit 90-1 - 236,000 rubles. - sales of products of organization “B” are reflected,
Debit 90-2, Credit 41 - 150,000 rub. - the cost of shipped products is written off,
Debit 90-3, Credit 68 - 36,000 rub. - VAT reflected.
After the compensation agreement with organization "B":
Debit 10, Credit 60 - 180,000 rub. - goods received from organization “B” are capitalized,
Debit 19, Credit 60 - 32,400 rub. - reflected “input” VAT,
Debit 60, Credit 62 - 212,400 rub. - the repayment of the obligation is reflected,
Debit 91, Credit 62 - 23,600 rub. (236,000 - 212,400) - the part of the debt “forgiven” to the buyer is taken into account in expenses,
Debit 68, Credit 99 - 5664 rub. (RUB 23,600 x 24%) - a permanent tax asset is reflected.
The following entries are made in the accounting records of organization "B":
Debit 10, Credit 60 - 200,000 rub. - received products are capitalized,
Debit 19, Credit 60 - 36,000 rub. - “input” VAT is reflected.
After the compensation agreement with organization "A":
Debit 62, Credit 90-1 - 212,400 rubles. - sales of goods are reflected,
Debit 90-2, Credit 41 - 180,000 rub. - the cost of goods is written off,
Debit 90-3, Credit 68 - 32,400 rub. - the amount of VAT is reflected,
Debit 60, Credit 62 - 212,400 rub. - debt settlement was carried out,
Debit 68, Credit 19 - 32,400 rub. - “input” VAT is accepted for deduction,
Debit 60, Credit 91 - 23,600 rub. - “forgiven” accounts payable are included in other income,
Debit 91, Credit 19 - 3600 rub. - the amount of VAT attributable to the “forgiven” debt is recognized as a non-operating expense.
Settlements with billsLet’s assume that an organization ships goods to a buyer (or provides services, performs work) and instead of payment, the buyer transfers his own bill of exchange. In this case, both the buyer and the seller have a number of features regarding accounting such operations.
Accounting with the seller. When receiving the buyer’s own bill of exchange in payment for shipped goods (works, services), the following entry is created in the seller’s accounting:
Debit 62, subaccount “Bill received”, Credit 62 - own bill received from the buyer.
If the bill provides for the accrual of interest, then this is recorded by recording:
Debit 62, subaccount “Bill received”, Credit 91 - interest income on the bill is accrued.
According to paragraphs. 3 p. 1 art. 162 of the Tax Code of the Russian Federation, the tax base for VAT increases by the amount of interest (discount) on a bill received as payment for goods (work, services). Therefore, simultaneously with the entries for accrual of interest, the accountant creates the following entry:
Debit 91, Credit 68 - VAT is charged on interest on the bill.
Income in the amount of accrued interest is included in tax base for income tax either at the time of accrual or at the time of actual receipt of interest, depending on which method - accrual or cash - the organization accounts for income and expenses.
However, the purchasing organization may transfer a third party’s bill of exchange as payment for goods (work, services). In this case, the bill will be listed as a security in the buyer’s accounting. The correspondence of invoices for sales is as follows:
Debit 62, Credit 90-1 - products shipped,
Debit 90, Credit 68 - VAT is charged on the cost of shipped products,
Debit 58, Credit 62 - a bill of exchange from a third party was received.
Buyer's account. The organization does not have available funds and pays for purchased goods (works, services) with a bill of exchange. According to paragraphs. 12 paragraph 2 art. 149 of the Tax Code of the Russian Federation, transactions for the sale of securities are exempt from VAT. Thus, by transferring a third party bill of exchange to a supplier, the organization performs a transaction not subject to VAT. As a result, a need arises in accordance with paragraph 4 of Art. 149 of the Tax Code of the Russian Federation, keep separate records of the amounts of “input” VAT, for example for general business expenses(this is indicated in the Letter of the Ministry of Finance of Russia dated 06.06.2005 N 03-04-11/126). However, it is also true that the transfer of a bill of exchange in payment for goods (work, services) received is not the sale of a bill of exchange, since this operation is not related to the receipt of income. It follows that the bill can be considered as security, and as a means of payment. Thus, if a bill of exchange is transferred precisely as a method of payment for goods, then you can argue with the tax authorities and not keep separate records of “input” VAT. The courts often support taxpayers in this matter (see Resolutions of the Federal Antimonopoly Service of the North-Western District dated 05.30.2005 N A66-8822/2004 and dated 06.10.2005 N A66-7746/2004; West Siberian District dated 06.22.2005 N F04-3835 /2005(12285-A45-25).
O. Kholodnova
Consultant
in accounting
and taxation
How to fill out a report on the intended use of funds received
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