How to open a synthetic account

To simplify accounting, synthetic accounts are used, which are indicated in the chart of accounts approved by Russian legislation. Synthetic accounting provides summarized information on business transactions and provides information expressed in cash.

You will need

- chart of accounts.

Instruction manual

1

To get information about a particular synthetic account, use the chart of accounts. Be sure to use the edition with the latest changes.

2

There are more than seven dozen synthetic accounts, each of which has its own number. These accounts are divided into 8 sections: non-current assets, inventories, finished goods and goods, production costs, cash, calculations, financial results, capital.

3

To determine which group you need to open an account with, just look at the operation. For example, you paid a supplier for a product through a current account. Thus, you transferred the funds. So, you need to put a synthetic account from the "Cash" section on the loan. There are 7 accounts here, one of which is called “Settlement accounts”.

4

On the debit, indicate where the money went. Open the "Settlements" section, find account 60 "Settlements with suppliers and contractors", here you need to specify it.

5

To determine where to indicate a particular synthetic account - in debit or on credit - again pay attention to the business transaction and understand the essence of the movement. For example, you purchased a fixed asset from a supplier. You have arrived as part of non-current assets, that is, you have invested. Thus, in the debit, put the score 08, because your operation went to the "plus". But at the same time, you owe it to the supplier, that is, a debt has formed. That is, the loan amount has increased, put a score of 60 here.

6

To synthetic accounts, you can open sub-accounts that provide more detailed information on transactions. For example, in the above example, you can open subaccount 4 “Acquisition of OS objects” to account 08.

7

For more accurate information on business information, use analytical accounts, which can be opened by synthetic accounts. For example, in the above example, to account 60 open an account in which exactly the counterparty with whom the transaction was made will be indicated.