Accounts payable in the balance sheet is what? Balance of accounts payable and accounts receivable

Accounts payable in the balance sheet (line 1520) in the unified form of the new sample shows the same types of obligations as in the previous one. However, this group is not detailed, as before. Nevertheless, enterprises, based on the specifics of production, the specifics of the activity, are nevertheless recommended to make such specification. Let us further consider how in detail the accounts payable are reflected in the balance sheet.

Why is this necessary?

If the accounts payable in the balance sheet (line 1520) will be shown in detail, this will give more reliable and complete information about the financial condition of the enterprise for interested persons. In addition, this procedure corresponds to PBU 4/99. In particular, paragraph 11 indicates that the indicators of individual assets and liabilities should be listed separately, if they are significant and if it is not possible to assess the financial condition of the enterprise by interested persons without them. Accounts payable (balance sheet item) can be shown as one sum, if one or another indicator does not separately have special significance for analysis.

Explanation

The balance of accounts payable and receivables for specific types (items) of articles is established by the enterprise and fixed in the accounting policy. When deciphering Art. 1520 can be used as a basis for the previous detail. So, using the order in accordance with which the previous balance sheet was drawn up , the accounts payable may be before:

1. Contractors and suppliers.
2. The personnel of the enterprise.
3. Extrabudgetary funds.
4. Tax Service (on fees and taxes).

Articles on which the accounts payable are deciphered in the balance sheet are pages 15201-15207.

Suppliers and contractors

This article shows short-term accounts payable in the balance sheet. It is formed on the last date of the reporting period. How is such a payable in the balance sheet shown? The accounts will be as follows:

1. Calculation with contractors and suppliers (item 60) on the results of services / works received, but not paid for, material values.
2. Sc. 76, which fixes transactions with various creditors and debtors. Information is provided on the sanctions charged for payment for violations by the enterprise of the terms of the contracts, debts that are not accounted for at the AC. 60.

An Important Moment

It should be noted that the accounts payable and receivables are indicated in the balance sheet. The latter is included in the asset. And the first - accounts payable - in the balance sheet. That is, they do not balance. This is not done in the event that both balances arose on the analytical accounts of the same article.

Formation of an obligation

The grounds in accordance with which the accounts payable are formed in the balance sheet are the terms of the contract concluded between the enterprise and the counterparty. In general, the amount of the obligation is equal to the contract price of the product, service or work received. But in some situations it is formed in a special way. For example, accounts payable can be expressed in conventional units or in foreign currency, arise when a commercial loan is provided, during a commodity exchange transaction, and so on.

Determination procedure

The amount of accounts payable is established in accordance with the rules given in PBU 10/99. According to the norms, the amount of the unfulfilled obligation for products, work, service is determined in accordance with the price established under the contract, under the terms of which they are received. It includes excise taxes and VAT claimed by the contractor / supplier.

Example

The enterprise acquires a batch of products. The cost, which is set in the supply contract, is 684 400 rubles, including VAT 104 400 rubles. At the reporting date, the obligation was not settled by the company. In the process of posting goods, you should make entries:

DB. 19, Cr. 60

104 400 р. - accounts payable (in terms of the tax amount) and VAT ("input") submitted by the supplier are taken into account.

DB. 41, Cr. 60

580 000 р. (684,400 - 104,400) - the products are credited and the indebtedness is shown (in the part of the goods without VAT).

As of the end of the reporting period, the amount of 684,400 rubles is shown in the company's documentation (p. 1520). If the cost of production is not established in the contract and is not determined by its terms, the initial parameters according to which the accounts payable in the balance sheet will be determined are those prices at which the enterprise calculates similar goods received in similar circumstances (subject to the terms of delivery , The number of values acquired, and so on).

Invaluation and conventional units

When purchasing a particular product, service or work, accounts payable are calculated in accordance with the officially established rate, which is effective as of the reporting date. Under the contract, calculation in another order may be provided. Since the foreign currency rates that operated at the time of receipt of the products will differ from those at the balance sheet date, the exchange differences will appear in the accounting . In this connection, the authorized person should recalculate the amount of the obligation to the supplier. This is done from the earliest date:

• At the time of reporting;
• As of the date of settlement of the obligation.

If the rate that existed at the date of shipment of products is greater than at the time of recalculation, a positive difference will be formed in the accounting. It is contributed to other income and its value reduces the debt.

Commercial loan

Under the contract of sale and purchase may provide for the company installment or deferred payment. As a rule, this service is paid. So, in addition to the cost of the product itself, the buyer must pay interest on a commercial loan. The order in accordance with which the accrual is carried out is established by the parties in the contract.

In the case of the provision of a commercial loan, the value of the products (including VAT) and the amount of interest are included in the accounts payable. Usually the charge is made at the time of transfer of ownership of the products. But this rule is applied in the event that the participants of the transaction can reliably calculate the amount of interest payable (if, for example, the date of payment is known exactly).

In some cases, this is not possible. For example, this situation occurs if the charge is charged for each deferred day. Together with this, the period during which the obligation will be canceled is unknown. According to the PBU, one of the conditions about which the expenses are fixed (hence, accounts payable in the balance sheet) is the ability to accurately determine their amount. In this case, you can do this:

1. Show an obligation without interest on a commercial loan.
2. Raise the debt at the end of each month, at the end of which the product was not paid, by the amount of interest due. The latter should be taken into account in other expenses.

Repayment

It is carried out after the settlements with the supplier are made. The company can transfer funds for the products delivered or credit its debt against its obligations (if any). The enterprise can pay both directly with the supplier himself, and at his request transfer money to a third party. The latter must have the appropriate powers. They will follow from the corresponding letter of the supplier, which is sent to the company.

Write-off

If the enterprise has not fulfilled its obligations to the supplier, in some cases the debt can be written off. This is possible if the three-year limitation period has expired. The period is calculated from the date of the obligation. The law also provides other grounds. For example:

• Death of the creditor, if the debt is connected personally with him.
• Voluntary release of the debtor by the creditor.
• Impossibility to fulfill obligations for reasons beyond the control of the parties.
• Liquidation of the creditor.
• The adoption by the state agency of an act, according to which the fulfillment of the obligation is impossible.

Overdue accounts payable in the balance sheet are written off without fail. If the obligation remains in the account, it can lead to data corruption. In addition, the tax service can regard this as a concealment of non-operating income of the enterprise with a corresponding decrease in the taxable base.