A short-term loan has been repaid from the transaction current account. Accounting for short-term loans and borrowings. Accounting for settlements on long-term loans and borrowings

This material, which continues the series of publications on the new chart of accounts, analyzes account 66 "Settlements on short-term loans and borrowings" of the new chart of accounts. This comment was prepared by Ya.V. Sokolov, Doctor of Economics, Deputy Chairman of the Interdepartmental Commission for the Reform of Accounting and Reporting, Member of the Methodological Council for Accounting under the Ministry of Finance of Russia, First President of the Institute of Professional Accountants of Russia, V.V. Patrov, professor of St. Petersburg State University and N.N. Karzaeva, PhD in Economics, Deputy director of the audit service of Balt-Audit-Expert LLC.

This is an obvious inconsistency of the compilers of the chart of accounts. In terms of financial investments, they have combined these investments in one account, and in relation to loans and borrowings, they adhere to the line according to which the funds raised should be divided:

• on funds requiring repayment within 12 months
• for debts over 12 months.

This is a very important account, which reflects the calculations for loans received. The loans themselves are divided into short-term (up to one year), they are accounted for on account 66 "Calculations on short-term loans and borrowings" and long-term (over one year), they are reflected on account 67 "Calculations on long-term loans and loans". This is a predominantly passive account, but it can also have a debit balance if more is paid than should have been paid. When working with account 66 "Settlements on short-term loans and borrowings", six situations can be distinguished:

1. The traditional receipt of a credit (loan) is formalized either by crediting money, or the lender (lender) pays the debt of the borrower, i.e. cession takes place. In the first case, monetary accounts 50 "Cashier", 51 "Settlement accounts", 52 "Currency accounts", 55 "Special accounts in banks" are debited, in the second - settlement accounts, such as 60 "Settlements with suppliers and contractors", 76 " Settlements with different debtors and creditors. At the same time, in all cases, account 66 "Settlements on short-term credits and loans" is credited.

2. Obtaining a loan can be achieved in the form of issuing and selling bonds. The presence of the bonds themselves (printed securities - forms of strict reporting) does not affect balance sheets, but as they are sold, entries are made:

Debit 50 "Cashier", 51 "Settlement accounts"

New in the instructions for using the chart of accounts is the indication that loans raised by issuing and placing bonds are accounted for separately.

Previously, only one option was described for accounting for the placement of bonds (at a price exceeding their face value). The new instruction also contains the second option - when the bonds are placed at a price below their face value.

If the bonds are sold at par, then no problem arises and the above entry is considered sufficient. If there is no such match, then slightly different records appear. If the bond is sold at a price above par, then the difference is reflected on account 98.1 "Income received on account of future periods" and further, this difference must be written off during the entire period of circulation of the bond, for which account 98.1 "Income received on account of future periods" is debited. periods" and credited account 91.1 "Other income".

If a bond is sold at a price below the face value, then the difference between the sale price and the face value of the bonds is additionally accrued evenly during the bond's circulation period. In this case, account 66 "Settlements on short-term loans and borrowings" is credited and account 91.2 "Other expenses" is debited.

3. Obtaining credits and loans is almost always accompanied by the payment of interest. You have to pay for everything, only cheese in a mousetrap is free. A feature of double entry should be recognized that when receiving a loan (loan), only the amount of this loan (loan) is reflected, while the actual amount of the debt is larger, sometimes significantly more than the loan received at the expense of interest.

Accountants have found a way out in accruing additional interest after the end of the reporting period to which they relate, i.e. it is proposed to record each reporting period:

Debit 91.2 "Other expenses"
Loan 66 "Settlements on short-term loans and borrowings"

This approach to the reflection of accrued interest on loans and credits complies with the requirements of PBU 15/01: "Debt on loans and credits received is shown taking into account interest due at the end of the reporting period in accordance with the terms of the agreements."

According to paragraph 12 of the Accounting Regulations "Accounting for loans and credits and the costs of servicing them" (PBU 15/01), the costs of loans and credits received are operating expenses of the reporting period in which they actually occurred, regardless of payment. But, firstly, not all the costs of loans and credits received are related to operating expenses, i.e. accounted for on account 91 "Other income and expenses". If loans and credits are obtained and used to create an investment asset or to pre-pay for material assets, work, services, the costs associated with obtaining these loans and borrowings are not included in operating expenses. Secondly, the costs associated with obtaining and using loans and credits include:

• interest due to lenders and creditors on loans and credits received from them;
• interest, discount on bonds due;
• the difference between the amount indicated in the promissory note and the amount of cash or their equivalents actually received when placing this promissory note;
• exchange rate and amount differences relating to interest payable on loans and credits received and expressed in foreign currency or conditional monetary units, formed from the moment interest is accrued under the terms of the agreement until their actual repayment (transfer);
• expenses for legal and consulting services;
• expenses for the implementation of copying and duplicating works;
• amounts of taxes and fees (in cases stipulated by the current legislation);
• expenses for conducting examinations;
• expenses for communication services;
• other costs directly related to obtaining loans and credits, placement of loan obligations.

Additional costs directly related to obtaining loans and credits may be provisionally accounted for as receivables with their subsequent inclusion in operating expenses during the maturity of loan obligations.

If an organization uses the proceeds of loans and credits received to make advance payments for inventories, other valuables, works, services or to issue advances and deposits on account of their payment, then the costs of servicing these loans and credits are attributed by the borrowing organization to an increase in receivables arising in connection with with advance payment and (or) the issuance of advances and deposits for the above purposes (clause 15 PBU 15/01). Upon receipt by the borrowing organization of the inventory and other valuables, the performance of work and the provision of services, the further accrual of interest and the implementation of other expenses associated with servicing the received loans and credits are reflected in accounting in a general manner - with the attribution of these costs to the operating expenses of the borrowing organization .

Example

The company received a loan in the amount of 100,000 rubles. for a period of 1 year. Interest on the loan - 24% must be accrued monthly. Upon receipt of funds, an advance payment in the amount of 100,000 rubles was immediately transferred. Two months later, the company received materials from the supplier in the amount of 60,000 rubles. A month later, materials worth 40,000 rubles were received.
The amount of accrued interest for three months must be reflected in the settlement accounts. This amount will increase the initial estimate of the materials. Interest accrued for 4 to 12 months should be included in operating expenses.

Interest accrued for 2 months:

100,000 * 24%: 12 * 2 = 4,000 rubles.

Interest accrued for 1 month:

100,000 * 24%: 12 = 2,000 rubles.

Interest attributed to materials received in the amount of 60,000 rubles:

4,000: 100,000 * 60,000 = 2,400 rubles

Interest attributed to received materials in the amount of 40,000 rubles:

4,000 - 2,400 + 2,000 = 3,600 rubles

The following entries will be made in the accounting of the enterprise:

Debit 60 Credit 66 - 4000 rubles. - accrued interest on the loan for 2 months; Debit 10 Credit 60 - 2400 rubles. - materials were credited in the amount of 60,000 rubles and the amount of interest attributable to the received materials was assigned; Debit 60 Credit 66 - 2000 rubles. - accrued interest on the loan for 1 month; Debit 10 Credit 60 - 3600 rubles. - materials were credited in the amount of 40,000 rubles and the amount of interest attributable to the received materials was assigned; Debit 91.2 Credit 66 - 2,000 rubles. - accrued interest on the loan (monthly).

According to paragraph 25 of PBU 15/01, the costs of loans and credits received, directly related to the acquisition and (or) construction of an investment asset, are included in the initial cost of this asset. "An investment asset is understood as an object of property, the preparation of which for the intended use requires considerable time" (clause 12 of PBU 15/01).

To include borrowing and credit costs in the initial cost of an investment asset, the following conditions must be met:

• receipt in the future of economic benefits or the need for an investment asset for the management needs of the organization;
• the occurrence of expenses for the acquisition and (or) construction of an investment asset;
• the actual start of work related to the formation of an investment asset;
• the presence of actual costs of loans and credits or obligations for their implementation.

If work related to the construction of an investment asset is suspended for a period exceeding three months, the costs of loans received and credits used to form the said asset are charged to the current expenses of the organization. The period during which additional coordination of technical and (or) organizational issues that have arisen during the construction of an asset is not included in the calculation of the period of suspension of work.

The costs of received loans and credits form the initial cost of the investment asset until the commissioning of the facility. Starting from the first day of the month following the month when the asset was accepted for accounting as an item of fixed assets or a property complex (for the respective types of assets that form the property of the complex), borrowing and credit costs are charged to operating expenses.

"If an investment asset is not accepted for accounting as an object of fixed assets or a property complex (according to the relevant asset items), but the actual output of products, performance of work, provision of services has begun on it, then the inclusion of the costs of loans and credits in the initial cost of the investment the asset is terminated from the first day of the month following the month of the actual start of operation "(clause 31 PBU 15/01).

4. Loan repayment is made by payment, as a rule, from a current account. In this case, account 66 "Settlements on short-term credits and loans" is debited and account 51 "Settlement accounts" is credited.

Example

A limited liability company sold bonds for 200,000 rubles, the nominal value of which was 180,000 rubles. The maturity of the bonds is twelve months. Interest on bonds - 3% per annum. The general scheme of records after the expiration of the first quarter will look like this:

Received proceeds from the sale of bonds 200,000 rubles. (180,000 rubles - face value, 20,000 rubles - the excess of the selling price over the face value. Interest on the loan will amount to 5400 rubles):

Debit 51 Credit 66 - 180,000 rubles; Debit 51 Credit 98.1 - 20,000 rubles;

At the end of the first quarter, interest is accrued (5400 rubles: 4):

At the end of the first quarter, income is reflected from the excess of the real price of the bond over the face value, attributable to this quarter (20,000 rubles: 4):

Debit 98.1 Credit 91.1 - 5,000 rubles.

Now suppose that the proceeds from the sale of bonds amounted to 180,000 rubles, and their face value was 200,000 rubles. The rest of the conditions are the same. In the accounting of the enterprise, the following entries will be made:

Proceeds from the sale of bonds were credited (200,000 rubles - face value, 20,000 rubles - the excess of the face value of bonds over their sale value. Interest on the loan is 5400 rubles:

Debit 51 Credit 66 - 180,000 rubles;

At the end of the first quarter, interest is accrued:

Debit 91.2 Credit 66 - 1,350 rubles;

At the end of the first quarter, losses from the excess of the face value over the real sale price are reflected:

Debit 91.2 Credit 66 - 5000 rubles.

5. Features of accounting arise in those cases when it comes to the use of bills. An organization can receive money against a promissory note, and then a very simple entry is made:

Debit 51 "Settlement accounts"
Loan 66 "Settlements on short-term loans and borrowings"

At the same time, the actual money received is credited to the debit of account 51 "Settlement accounts", and the amount of the granted loan is credited to the credit of account 66 "Settlements on short-term credits and loans". Since you always have to pay on a bill of exchange more than you receive under it, this difference must be written off to the debit of account 91/2 "Other expenses".

6. A credit and/or loan agreement may be concluded either in foreign currency or in conventional units. When repaying the loan in this case, either the amount or the exchange rate difference may occur.

Analytical accounting on account 66 "Settlements on short-term credits and loans" is carried out by credit institutions and other lenders, by types of credits and loans.

In the old instruction, a breakdown of analytical accounting for accounts of short-term loans and borrowings was indicated - for individual loans and the maturity of loans. This section is absent in the new instruction, but this does not mean that the accountant should refuse such accounting.

In accordance with the provisions of PBU 15/01, analytical accounting of loans and credits should be organized in the context of urgent and overdue debts. At the same time, urgent debt is understood as debt on loans and credits received, the maturity of which, under the terms of the contract, has not come or has been extended (prolonged) in the prescribed manner. Overdue debt is considered to be a debt that has expired according to the terms of the contract, the repayment period. Organization - the borrower after the expiration of the payment period is obliged to ensure the transfer of urgent debt into overdue, which is made on the day following the day when, under the terms of the loan and (or) credit agreement, the borrower had to repay the principal amount of the debt.

Account 66 "Calculations on short-term loans and borrowings" contains information on the received and returned short-term loans and loans of the organization.

Often for the smooth and efficient operation of the organization there is a need to attract additional working capital with the condition of their return in the future. The law allows organizations to attract loans from both Russian and foreign entities.

Accounting provides for the division of loans and credits depending on their maturity. If a loan is granted for a period of more than 12 months, it is considered long-term, if less - short-term. Accounting does not justify such a division. Perhaps we are talking about the duration of the tax period, the unit of which is taken as a calendar year.

The loan can be provided to organizations in cash or in kind, as well as in the form of debt obligations with third parties.

Accounting for short-term loans (up to 1 year) is kept on passive account 66 "Calculations on short-term loans and borrowings". The receipt of a loan is reflected in the credit of account 66 in correspondence with the accounts of cash, inventory, etc. The return of a loan (repayment of debt) is recorded in the debit of account 66 “Settlements on short-term loans and borrowings”.

Analytical accounting of short-term loans should provide the organization with information about the sources of the loan (creditors) and concluded agreements.

Typical postings on the debit of account 66 "Settlements on short-term loans and loans."

Typical postings on the credit of account 66 "Calculations on short-term loans and loans"

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Settlements on short-term loans and borrowings- this is account 66. It is intended to summarize information on the status of short-term (for a period not exceeding 12 months) loans and borrowings received by the organization.

Accounting for short-term loans and borrowings

Accounting for debt on short-term loans and borrowings is carried out on passive account 66 "Settlements on short-term loans and loans" in the context of the following sub-accounts:

• 66-1 "Settlements on short-term bank loans";
• 66-2 "Settlements on short-term loans";
• 66-3 "Settlements with credit institutions for operations of accounting (discount) of promissory notes and other debt obligations".

On sub-account 66-1 "Settlements on short-term bank loans" the issuance and repayment of short-term loans and interest on them are taken into account. A loan can be obtained by crediting funds directly to the current account. More often, however, credit is used to pay supplier bills and other household expenses.

Interest on loans and borrowings (with the exception of interest on overdue loans and borrowings, as well as those related to the acquisition of fixed assets and intangible assets and other non-current (long-term assets) are included in the cost of products (works, services). to the element “Other expenses.” Debt on a loan in foreign currency is revalued with the transfer of the exchange rate difference to account 92 “Extra-operating income and expenses”.

If there are not enough funds on the current account to pay off debt on loans, then (the missing amount is attributed to overdue loans. To account for overdue loans, a separate analytical account “Loans not paid on time” is opened to account 66. (Transfer of loans to this account is issued by the internal In addition, in some cases, overdue short-term loans can be converted into long-term loans: Dt 67 Kt 66.

On sub-account 66-2 "Settlements on short-term loans" the movement of short-term loans received from other organizations attracted by issuing and placing bonds is taken into account. The receipt (provision) of loans is formalized by an agreement between the borrower and the lender or a bill of exchange. The credit of subaccount 66-2 reflects the amount of debt of the borrowing organization on loans received.

Sub-account 66-3 “Settlements with credit institutions for accounting (discount) of promissory notes and other debt obligations with a maturity of not more than one year” accounts for settlements with banks for accounting (discount) of promissory notes and other debt obligations with a maturity of not more than one year . Accounting for bills is understood as such an operation when the holder of the bill transfers (sells) the bill of exchange to the bank before the maturity date and receives for this a certain fee on the bill minus the discount rate. Accounting interest is a fee charged by the bank for advance payment by purchasing (accounting) bills of exchange before the due date for payment on them.

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Often, the normal life of an enterprise cannot do without a loan, since there is a need to attract additional working capital. A loan or loan is a sum of money that is issued on the terms of a return, the term of which is clearly specified and at a certain percentage.

Sometimes a loan may have a target character, which excludes its use for other needs of the organization. Depending on the loan repayment period, they are divided into short-term (if the loan period does not exceed 12 months) and long-term. In this article, we will consider the main entries on account 66 - “Settlements on short-term loans and borrowings”.

How to display the receipt and return of credit / loan funds or goods and materials in the postings of account 66?

To display short-term credit transactions, a special accounting account 66 “Settlements on short-term loans and borrowings” is used, which displays information on the receipt and return of short-term loans and borrowings of the enterprise. Account 66 is passive, so all receipts are displayed on the credit of this account, and repayment of debts (repayment of the loan) on the debit.

Analytical accounting of credit operations makes it possible to distinguish between information on the sources of loans (credits) in accordance with the concluded agreements.

Sub-accounts 66 accounts

Features of using a passive account 66 in postings

Account 66 is used to account for credit funds, and not only national ones. So, when receiving a loan in a foreign currency, in order to display them in the account, they must be converted into rubles, according to the established exchange rate by the Central Bank of Russia, which is valid on the date of crediting the foreign currency.

The receipt of credit funds is displayed on the credit of account 66 with the debit of cash accounts, namely:

• (if the loan is issued in cash);
• (non-cash form of lending);
• (if the loan is issued in foreign currency);

Obtaining loans or credits entails a certain share of the costs that the company will have in the future - these are the interest on the loan, the commission for managing it, and which arise when converting one currency to another. All these expenses or incomes (if the exchange rate difference is positive) are taken into account as part of operating expenses on account 91/1 “Other income and expenses”.

There may also be additional costs associated with processing and obtaining a loan, which are also taken into account as part of operating costs, but on a separate accounting account 60 “Settlements with suppliers and contractors”. These may include legal and consulting services, expertise, communication services and other expenses (debit account 91/2, and credit 60).

Repayment of credit funds, payment of interest and bank commission is monthly displayed on the debit of account 66 in correspondence with cash, non-cash or foreign currency accounts (50,).

It should be noted that account 66 can also be used to record the issue and placement of bonds if short-term loans were attracted with their help. If the bond is placed at a price higher than the nominal, then the debit will be an account, and the credit will be 66 and 98 "Deferred income". If the bond is placed at a price lower than the face value, then this difference is accrued evenly from credit 66 to debit 91. Interest payable is taken into account separately by such a posting: debit 91 and credit 66.

Table of typical postings on account 66 “Settlements on short-term loans and borrowings”

Provisions for doubtful debts are created at the end of the reporting year. The amount of reserves for doubtful debts for the entire amount of receivables based on proceeds from the sale of products, goods, performance of work, provision of services for the reporting period and the coefficient of doubtful debts.

11.5. Accounting for reserves of future payments

Reserves for future payments are not created.

11.6. Accounting for settlements on short-term loans and borrowings

Account 66 "Settlements on short-term credits and loans" is intended to reflect information on settlements on short-term (for a period not exceeding 12 months) credits and loans received by the organization, including tax credits, as well as accrued and paid interest on them.

The receipt of short-term loans and borrowings is reflected in the debit of accounts 50 "Cashier", 51 "Settlement accounts", 52 "Currency accounts", 55 "Special bank accounts", 60 "Settlements with suppliers and contractors" and other accounts and credit of account 66 " Settlements on short-term credits and loans.

Repayment of short-term credits and loans is reflected in the debit of account 66 "Settlements on short-term credits and loans" and the credit of accounts 51 "Settlement accounts", 52 "Currency accounts", 55 "Special accounts in banks".

Analytical accounting on account 66 "Settlements on short-term credits and loans" is carried out by types of short-term credits and loans, banks and other lenders.

11.7. Accounting for settlements on long-term loans and borrowings

Account 67 "Settlements on long-term credits and loans" is intended to reflect information on settlements on long-term (for a period of more than 12 months) credits and loans received by the organization, including tax credits, as well as accrued and paid interest on them.

The receipt of long-term loans and borrowings is reflected in the debit of accounts 51 "Settlement accounts", 52 "Currency accounts", 55 "Special bank accounts", 60 "Settlements with suppliers and contractors" and other accounts and the credit of account 67 "Settlements on long-term loans and loans."

Repayment of long-term credits and loans is reflected in the debit of account 67 "Settlements on long-term credits and loans" and the credit of accounts 51 "Settlement accounts", 52 "Currency accounts", 55 "Special accounts in banks".

Analytical accounting on account 67 "Settlements on long-term credits and loans" is carried out by types of long-term credits and loans, banks and other lenders.

11.8. Accounting for calculations on taxes and fees

Account 68 "Calculations on taxes and fees" is intended to summarize information on settlements with the budget for taxes, fees and other payments.

To account 68 "Calculations on taxes and fees" sub-accounts can be opened:

68-1 "Calculations on taxes and fees attributable to the costs of production and sale of products, goods, works, services (VAT)";

68-2 "Calculations on taxes and fees calculated from the proceeds from the sale of products, goods, works, services (single tax)";

68-4 "Calculations on income tax";

The amounts of taxes, dues and other payments to the budget due to the budget are reflected in the debit of accounts 20 "Main production", 70 "Settlements with personnel for remuneration", 90 "Incomes and expenses on current activities", 91 "Other income and expenses ",99 "Profits and losses" and other accounts and the credit of account 68 "Calculations on taxes and fees".

Fines and penalties due to be paid to the budget are reflected in the debit of account 90 "Incomes and expenses on current activities" and the credit of account 68 "Calculations on taxes and fees".

Payments transferred to the budget are reflected in the debit of account 68 "Calculations on taxes and fees" and the credit of account 51 "Settlement accounts" and other accounts.

Analytical accounting on account 68 "Calculations on taxes and fees" is carried out by types of taxes.