How to reflect the entry in the account
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In the process of economic activity of the company, managers use various materials. In the organization, such funds must certainly be taken into account when entering, moving and writing off. There are several ways to reflect the receipt of materials - at actual cost and at discount prices.
Instruction manual
1
The receipt of materials reflect only on the basis of supporting documents. If the plant received from the supplier, conclude a supply agreement before this.
2
Based on the waybill (unified form No.TORG-12) and the receipt order (form No.M-4), make the following entries in the accounting: D10 K60 - the receipt of materials from the supplier is reflected (cost excluding VAT).
3
Reflect the amount of input VAT on the basis of the consignment note and invoice, do this using posting: D19 K60.
4
Refund the amount of VAT from the budget, this is done only if you have an invoice with tax deduction. Make an entry in accounting: D68 K19. Include tax in the shopping book.
5
After you paid the amount for the materials, make the wiring: D60 K51. Reflect this operation on the basis of an extract from the current account and payment order.
6
If you made an advance payment to the supplier prior to the receipt of materials, reflect this as follows: D60 sub-account “Advances paid” K51.
7
If the materials are made by your own forces, then their arrival at the warehouse is reflected as follows: D10 K40 - the release of materials at planned prices is reflected. Perform this operation on the basis of a receipt order (form No. М-4).
8
Reflect the actual cost of those costs that were incurred in the production process (cost), do it on the basis of the accounting statement-calculation using correspondence accounts: D40 K20.
9
Write off the deviations between the actual production cost and the planned cost of materials, do it on the basis of the primary settlement document using posting: D10 K40.
10
If you reflect the receipt of materials at actual cost rather than planned, do it with the posting: D10 K20.
