The overwhelming majority of all existing firms, both large and small, do not do without suppliers (suppliers) in their business activities. The only exceptions are companies that themselves are large suppliers or firms whose main activity is not manufacturing and the like. These may, for example, include firms whose main activity is aimed at generating income from a share of the authorized capital of other firms.
This article will define what acceptance is (hereinafter AK), types of AK in accounting (hereinafter referred to as BU), types of operations, accounts for settlements with suppliers, forms of primary documents for settlements with suppliers, posting acceptance of a vendor account for received materials and examples.
What is AK?
Before proceeding with the description of accounts related to settlements with suppliers, we give some explanations.
Many do not understand the meaning of AK, which can appear in the control unit. It manifests itself infrequently, but can lead to bewilderment of accountants, especially beginners.
In general, this concept is found quite often in ordinary life and applies not only to BU. The word “accept” is translated from both English and Latin as “accept”. Accepted - means accepted. In the Russian Federation, the concept of AK refers to the unconditional and full acceptance of any offer by the host.
In BU AK is considered the acceptance of a service, work or ownership of any values. AK business transaction must be accounted for before payment. Otherwise, such an operation is often defined as a reflection of the debt of the company. Therefore, if the supplier’s account is accepted for incoming materials to the warehouse, this means the appearance of accounts payable.
Types of AK in BU
The concept of AK refers more to banking and the field of finance, and to a lesser extent to BU. In our case, AK is found only in settlements through the firm’s bank account. The main types of such settlements are a payment order (hereinafter referred to as PP) and a payment request (hereinafter referred to as PT). The difference between the two is that, with the help of the PT, the delivery man demands payment from the payer for the goods, service or work (issues an invoice), and with the help of the payer the payer instructs the bank to pay goods, services or work from the delivery man from his account.
AK occurs in calculations through PT, which is of two types: with AK and without AK. PT with AK means that the payer must give consent (accept the account) within three days before paying the bill. After this period, if the payer has not accepted and has not declared a refusal to pay, the payee is considered accepted. PT without AK does not include the consent of the payer, and the money is transferred from the payer's account to the account of the provider immediately. This type of settlement (without AK) is possible only if specified in the contract between the supplier and the buyer (payer).
Operations with the acceptance postings of the supplier’s invoice for received materials are based on the acceptance type of goods transfer. Refusal from AK (payment of the bill) may be full or partial. In case of a full or partial refusal, the buyer must make a refusal statement to his bank with a cover letter on the reasons for the refusal and an indication of those clauses of the contract that have not been fulfilled. Unreasonable refusals of the payer by the bank are not accepted, and the bank does not consider all possible disputes between the buyer and the provider.
There are such concepts as preliminary and subsequent AK. In BU, they are almost never used, but can meet. These concepts apply more to the field of finance. Preliminary AK is a type of AK described above. That is, the payer in this case must give prior consent before payment. The subsequent AK means the same procedure as the invoice without AK, when the money is withdrawn from the payer's account immediately, but the buyer at the same time has the right to refuse the AK after the withdrawal of funds. The subsequent AK has not been applied in the Russian Federation since 1992.
Type of operation with acceptance of the delivery account
All business operations in the BU are divided into 4 types:
- Active-active correspondence (active debit account, active credit account).
- Active-passive correspondence (active debit account, passive credit account).
- Passive-active correspondence (passive debit account, active credit account).
- Passive-passive correspondence (passive debit account, passive credit account).
Correspondence is a connection between the accounts of BU when the same amount is reflected in two accounts at once. Two accounts in any transaction are called offsetting.
The first type of operations increases one active balance sheet item and reduces the other active balance sheet item by one amount. The balance value remains unchanged. The second type increases two balance sheet items by one amount. The value of the balance increases by this amount. The third type reduces two balance sheet items by one amount. The balance value is reduced by this amount. The fourth kind reduces one passive balance sheet and increases another passive article. The balance value remains unchanged.
In our case, the active account “Materials” (the materials have arrived) and the active-passive account “Settlements with suppliers and contractors” are increased (accounts payable increased). That is, if the supplier’s invoice is accepted for the materials received, the type of operation will be second.
Accounts for settlements with suppliers
Such accounts are account 50 “Cashier”, account 51 “Settlement accounts”, account 52 “Foreign currency accounts” and account 55 “Special accounts with banks”. In most cases, settlements with suppliers are carried out using account 51, but sometimes money is issued in cash and in other ways using the above voiced accounts.
There are no special difficulties when settling with suppliers using these accounts, with the exception of cash payments through account 50. There are many pitfalls in this situation that are worthy of coverage in a separate article. Here we consider only the most basic points.
Cash withdrawal to the supplier without any headache and delays is possible only if the money is issued personally to the head of the company, which is the supplier (this can be an individual entrepreneur, for example). In all other cases, from the representative of the suppliers must require the original power of attorney to receive money. It is even better if such a form of payment is foreseen in the contract with the supplier, and it is indicated that cash settlement is possible only if the representative of the supplier has the original power of attorney.
Another problem when paying in cash to the seller is that his representative must issue a receipt for the sale of the goods. To do this, he must have on hand a mobile cash register to issue a check at the time of unloading the goods. There is an option with a pre-prepared check, but it must be knocked out by the same number as the day the goods were shipped.
If the supplier’s invoice is accepted for the received materials, it is reflected in account 60 through “Settlements with suppliers and contractors” and in connection with the above invoices. However, there are cases when the delivery account has been accepted and paid before the goods were unloaded, and when the goods were unloaded, a discrepancy in the order amount was revealed that violates the contract or does not correspond to the waybill. Here, account 60 will be corresponded with account 76.2.
Forms of documents for settlements with suppliers
Before describing the postings, the supplier’s invoices for the received materials were accepted, here is the list of documents used in the calculations with suppliers:
- Waybill (TORG-12) - issued to the buyer by the supplier. When the right to goods is issued, they automatically pass to the buyer.
- Invoice (SF) - issued to the buyer by the supplier. It confirms two facts: the shipment of goods and payment of the indicated amounts for VAT for their further deduction. This document is prepared by those suppliers who work on VAT.
- Universal Transmission Document (UPD) - can replace both TORG-12 and SF. Introduced since 2013.
- Waybill (1-T) - issued to the buyer by the supplier, if the delivery of goods is carried out by means of transport and through an intermediary company that delivered the goods.
Postings when reflecting debt for material and goods
The supplier’s invoice was accepted for incoming materials to the warehouse. The wiring will be as follows: DBT 10 Cdt 60. And the second option.
Accepted the account of the delivery man for the goods received. The wiring will be as follows: DBT 41 Cdt 60.
Postings when reflecting debts for work and services
Accepted the account of the delivery man for work and / or services. The wiring will be as follows: DBT 20 (23, 25, 26, 44) Cdt 60.
Postings for VAT and payment to the supplier or contractor
The above postings will be sufficient if the deliverer or contractor is not a VAT payer.
The supplier’s invoice for received materials has been accepted. The transaction with VAT will be the following: DBT 19 Cdt 60. Next, close account 19 with the following transaction: DBT 68 Cdt 19. These records must go immediately after one of the transactions from the sections above, that is, in this case (if the counterparty pays VAT) there will be three wiring. After that, payment is made to the supplier or contractor by the following wiring: DBT 60 Cdt 50 (51, 52, 55).
Examples of solution problems
Task 1
The delivery man shipped materials at 330,400 rubles. including 18% VAT. Reflect on accounts BU.
DBT 10 Cdt 60 - the invoice of the supplier for the received materials has been accepted.
Posting 280,000.
DBT 19 Cdt 60 - VAT (posting 50,400).
In this task, VAT is included in the cost of materials. To calculate the VAT in this case, you need to use the formula - CM / 1.18 * 0.18, where SM is the amount including VAT.
DBT 68 Cdt 19 - VAT offset (posting 50,400).
DBT 60 Cdt 51 - payment to the supplier (posting 330 400).
Task 2
The deliveryman sent the materials by rail (through a third-party organization - Russian Railways). Materials arrived and received. The cost of materials is 200,000 rubles. with VAT on top of 18%, railway tariff - 45,000 rubles. Reflect on accounts BU.
DBT 10 Cdt 60 - the supplier's account for received materials was accepted (railway tariff + goods = 245,000).
DBT 19 Cdt 60 - VAT (36,000).
In this task, VAT is not included in the cost of the material and must be calculated differently. To calculate the VAT in this case, you need to use the formula - * 18/100, where - the amount excluding VAT.
DBT 68 Cdt 19 - VAT deduction (transaction 36,000).
DBT 60 Cdt 51 - payment to the supplier (railway tariff + goods + VAT = 281 000).
We hope that this article clarified many issues and helped in recording the posting - the supplier’s invoice for received materials was accepted.