Where do the penalties go?

During their activities, enterprises may, for one reason or another, violate the terms of various agreements, which results from late payments and delayed production. In this case, the respondent organization pays the penalties charged to it, reflecting them in accounting.

You will need

• - notice of accrual of penalties or interest;

• - accounting documents.

Instruction manual

1

Receive a notification from the tax authorities or other institutions about the calculation of penalties or interest in connection with a violation of the terms of the contract, the timing of tax payments and other obligations. If the organization considers this decision unlawful, it has the right to challenge it in court. If you agree with the requirements put forward, this operation must be reflected in the accounting of the company.

2

Russian law does not establish a clear procedure for opening accounting entries in case of any violations. Nevertheless, in accounting it is customary to attribute fines and penalties to account 68 ("Calculations on taxes and fees"). Moreover, in accordance with article 270 of the Tax Code of the Russian Federation, these amounts do not apply to taxable profit, nor to the accounting and tax report.

3

Penalties and fines for tax payments should be reflected by debit of account 99 and credit of account 68. As for the late repayment of insurance premiums to extra-budgetary funds, in this case, the calculation is carried out by opening a debit on sub-accounts of account 99 and credit of account 69.

4

Pay attention to the peculiarities of accounting for penalties and penalties accrued in case of non-compliance with cash discipline. This administrative responsibility of the enterprise is reflected by opening a debit through sub-accounts of account 99 and credit of account 76.

5

If necessary, issue a penalty in the accounting records arising from a violation of the terms of the contract with the counterparty under Article 330 of the Civil Code of the Russian Federation, follow the Tax Code of the Russian Federation. In accordance with it, in case of non-compliance with obligations under the contract, the defendant is obliged to record the penalties accrued to him as unrealized expenses for the period of recognition of this fine. Reflect the contractual sanctions in the account by opening a debit through sub-account 91-2 and a loan through sub-account 76-2.