How to commission a fixed asset

Fixed assets are assets of the organization that serve as a means of labor for the manufacture of products or the performance of any work and services. In accounting, they are reflected in account 01 and serve as the basis for calculating property tax. Monthly depreciation of these fixed assets is made, that is, the amount of depreciation is deducted from the initial cost. The commissioning of assets is carried out on the basis of an order or order of the head of the organization.

You will need

• - the order of the head of the organization and the commissioning of fixed assets;

• - the act of acceptance of the fixed asset.

Instruction manual

1

After the general director has signed the order, you need to draw up an acceptance certificate for fixed assets (form No. OS-1 or No. OS-16). Based on these documents, make changes to the inventory cards (form No. OS-6) or the inventory book (form No. 6b).

2

When acquiring fixed assets that do not require installation, that is, repair, you need to do the following operations: D08 "Investments in non-current assets" and open subaccount 4 "Acquisition of fixed assets" K60 "Settlements with suppliers and contractors".

3

If there was a delivery at your expense, then make the following entries: D08.1 K60 "Settlements with suppliers and contractors" or 23 "Auxiliary production".

4

Next, you need to capitalize the commissioning, this can be done by writing: D01 "Fixed assets" K08 "Investments in non-current assets".

5

If you purchased a fixed asset that requires repair, then you need to make additional wiring: D07 "Equipment for installation" K60 (amount charged for equipment), D08 K07 (equipment transferred for repair), D08 K10 "Materials" and 70 "Calculations with staff on remuneration "(the costs of repairs are written off). After these entries, you must enter the main asset into operation: D01 K08.

6

When entering fixed assets, the VAT that has been paid to the supplier is taken into account on account 19 and serves as a reduction in value added tax.

note

If you capitalized fixed assets without documents, the tax authorities are entitled to exclude the amount of accrued depreciation in income tax.

Useful advice

When acquiring fixed assets, you must monthly charge property tax on these assets. In the case when they require installation, you need to have documents that confirm the unavailability of the asset to use.