Account ending balance 99. Where are profits and losses reflected in the balance sheet

In the modern world can not imagine activities of the enterprise without accounting. Correct reporting allows you to have a clear idea of ​​the company's activities, understand its weaknesses and hidden opportunities, thereby improving its efficiency, increasing income, and reaching a new level of business.

The end result of any business is profit. Profit is the difference between and the costs of producing goods or services, is the most important indicator for understanding the financial independence of the company. The laws of the Russian Federation in the field of accounting determine that the reflection of profit should be carried out on 99 count Chart of accounts.

Regardless of the type of occupation of the enterprise and the form of education, the accountant is obliged to open account 99 and display transactions on it reliably and in full. Operations on the account reflect the profit or loss of the enterprise in the reporting period, namely:

1. Income and expenses for ordinary activities, which are determined by the statutory documents.
2. Profits and losses from emergency activities (elimination of emergency situations, sums insured, loss of equipment, goods, forced shutdown of production lines).
3. Payments and recalculations of income tax and tax penalties, deferred liabilities.

The profit and loss account is active-passive, that is, the operation can be shown on credit or on debit - it depends on the situation. The end result of the activity reflects the balance. According to the debit of account 99, it is necessary to display the actions on the expenses and losses of the company.

Expenses is the sum of all expenses incurred by the company for the reporting year (month, quarter) as a result of its work. These expenses are the costs of raw materials, the purchase of equipment, payment to employees, the operation of transport, etc. The expenses correspond to the credit with accounts: 64, 03, etc. An example for the debit of account 99 is the loss of goods that occurred as a result of an emergency ( Dt. 99 / Ref. 41).

The credit accounts show the income of the firm. Income- these are all receipts to the settlement accounts that the enterprise has at the specified time. Income Examples: revenue, profit from operations with securities, interest on investments, from rent, etc. The account credit is linked to the following accounts: 90, 72, 8, etc. Example: the loan action is to receive profit from the sale of goods or services produced (Dt. 90 / Ch. 99).

Balance

The balance is the difference between profit and expenses, which appears as a result of the production and sale of products. The balance is considered the most important indicator in accounting reports. The balance can be initial and final, which is determined at the beginning and at the end of a given time period.

Of course, any enterprise strives to ensure that profits exceed costs. If the account balance turned out to be debit at the end of the reporting date, then this means that the level of costs exceeded the level of profit. In this case, the balance is negative - the company did not receive a profit for the reporting period of its activities. If the balance is credit, then the company reflects profit with a plus sign in the report on the results of its work.

At the end of each period, organizations you must close the account and open it again at the beginning of the year. This is done in order to understand how the company works, what level of profitability it has. Since the accounting periods are equal to the tax periods, it is easy to understand that it is also necessary to reset the balances to zero in order to make tax payments on time and in full.

The opening balance for the future period must always be zero. In order to close an account 99, you must first close the accounts that are associated with it. These accounts include:

90 "Sales"

This account displays income from the sale of goods and the provision of services that were produced as a result of the main activity of the organization. For the convenience of keeping records on this account, sub-accounts are opened: 90.1, 90.2, 90.3, 90.9.

Until July 2017, depreciation for this equipment in accounting was 216,000 rubles, in tax accounting - 240,000 rubles, the calculated temporary difference - 24,000 rubles. The deferred tax asset amounted to:

24,000 * 20% = 4800 rubles.

Since the company sold this equipment in July 2017, it needs to write off the deferred tax asset. This is done by the following wiring:

Dt. 99 ct. 09 = 4800 rub.

Example 2: in 2016, Sintomat LLC produced and sold goods for 2,500,000 rubles. The value added tax in the period amounted to 500,000 rubles. Production costs - 1,080,343 rubles. Operating costs, management costs, rental costs and transport are 523,487 rubles.

Account 90.1 - Balance Kt - 2,500,000 rubles.

Account 90.2 - Balance Dt - 1,080,343 rubles.

Account 90.3 - Balance Dt - 500,000 rubles.

Account 44 - Balance Dt - 523,487 rubles.

Closing of the account on December 31, 2016 is carried out according to following scheme:

Dt. 90.2 ct. 44 - 523,487 rubles.

Dt. 90.9 ct. 99.1.1 - (1,080,343 + 500,000 + 523,487) - 2,500,000 = 396,170 rubles.

In total, the credit balance, that is, the company received a profit in 2016 in the amount of 396,170 rubles. Final wiring upon account closure:

Dt. 99 ct. 84 - 396 170 rubles.

To determine the amount of income tax liability for the reporting period, it is necessary to fulfill this wiring:

Dt. 99.1.1 Ct. 68 - 396,170 * 20% = 79,234 rubles.

When conducting accounting, it is difficult to overestimate the importance of the correct execution of account 99 “Profit and Loss”, since it is on it that the result of the enterprise’s work is assessed, further plans are made for efficient business conduct and the amount of tax liability for income tax is determined.

Additional account information is provided below.

Account 99 "Profits and losses" is intended to summarize information on the formation of the final financial result of the organization's activities in the reporting year.

The final financial result (net profit or net loss) is made up of the financial result from ordinary activities, as well as other income and expenses. The debit of account 99 "Profits and losses" reflects losses (losses, expenses), and the credit - profits (income) of the organization. Comparison of debit and credit turnover for the reporting period shows the final financial result of the reporting period.

On account 99 "Profits and losses" during the reporting year are reflected:

balance of other income and expenses for the reporting month - in correspondence with score 91"Other income and expenses";

the amount of accrued contingent income tax expense, permanent liabilities and payments for recalculations of this tax from actual profit, as well as the amount of tax sanctions due - in correspondence with score 68"Calculations on taxes and fees".

At the end of the reporting year, when compiling the annual financial statements, account 99 "Profit and Loss" is closed. At the same time, the final entry in December, the amount of net profit (loss) of the reporting year is debited from account 99 "Profit and Loss" on credit (debit) accounts 84"Retained earnings (uncovered loss)".

The construction of analytical accounting for account 99 "Profit and Loss" should provide the formation of the data necessary for compiling a profit and loss statement.

Account 99 "Profit and loss"
corresponds with accounts

by debit

on credit

01 Fixed assets 03 Profitable investments in material assets 07 Equipment for installation 08 Investments in non-current assets 10 Materials 11 Raised and fattened animals 16 Deviation in the value of material assets 19 Value added tax on acquired valuables 20 Main production 21 Semi-finished products of own production 23 Ancillary industries 25 General production expenses 26 General business 28 Manufacturing defects 29 Service 41 Items 43 Finished products 44 Selling expenses 45 Goods shipped 50 Checkout 51 Settlement accounts 52 Currency accounts 58 Financial investments 68 Calculations for taxes and fees 69 Social security payments 70 Settlements with personnel for 71 Settlements with accountable 73 Settlements with personnel for 76 Settlements with different 79 On-farm 84 Retained earnings 90 Sales 91 Other income and expenses 97 Deferred expenses

10 Materials 50 Checkout 51 Settlement accounts 52 Currency accounts 55 Special bank accounts 60 Settlements with suppliers and contractors 73 Settlements with personnel for other transactions 76 Settlements with various debtors and creditors 79 On-farm settlements 84 Retained earnings (uncovered loss) 90 Sales 91 Other income and expenses 94 Shortfalls and losses from damage to valuables 96 Provisions for future expenses Production and household expenses Insurance and ensuring payment of labor by persons Other operations Debtors and creditors Settlements (uncovered loss)

Chart of accounts application: account 99

• How to reflect in the accounting penalties and fines for late payment of insurance premiums?

  Account 99 "Profits and losses" during the reporting year are reflected along with profits and losses ... statements of the annual report are reflected in account 99 "Profits and losses" in correspondence with ... account 69. At the same time, according to paragraph ... s Regulation N 34n and the Instruction - on account 99 "Profit and Loss", either in accordance with the Recommendation, or on account 91 ...

• On which account (91 or 99) should sanctions for violation of tax laws be reflected?

  Account 99 "Profits and losses" in correspondence with account 68 "Calculations on taxes and ... account 99 "Profits and losses" in correspondence with account 68 "Calculations on taxes and ... minus those due from profits established in accordance with ... application (hereinafter referred to as the Chart of Accounts and Instructions) approved by order of the Ministry of Finance ... account 99 "Profit and Loss" in correspondence with account 68 "Calculations for taxes and ... accounting procedure (on account 91 or account 99) economic subjects...

• Deferred tax asset from the loss of a consolidated group of taxpayers

  The corresponding CGT member on account 99 “Profit and Loss” in correspondence with account 78 “Settlements with...) and is taken into account when determining the net profit (loss) of the organization (not participating in the formation of profit (loss) of the organization ... before tax). 5. Information on balances on account 78 ... the tax base of the CGT, is written off to account 99 "Profit and Loss" in the reporting period preceding the period ...

• Advance income tax payments. Examples

  The result is reflected in account 99 "Profit and loss". The specified account also reflects amounts ... from the amount of accounting profit received for the reporting period and the current tax rate ...). Further, regardless of the amount of taxable profit (loss), the organization’s accounting records ... profit determined on the basis of accounting profit (loss) and recognized for the purposes of PBU 18 ... in accounting on the debit of account 99 "Profit and Losses" ( sub-account...

• Reflection in accounting of fines for violation of tax laws

  Account 99 "Profits and losses" in correspondence with account 68 "Calculations for taxes and ... period, minus those due from profits established in accordance with the law ... for its application (hereinafter referred to as the Chart of Accounts and Instructions), approved by order The Ministry of Finance of Russia ... account 99 "Profit and Loss" in correspondence with account 68 "Tax calculations and ... a specific accounting procedure (on account 91 or account 99) is recommended to economic entities independently ...

• Reporting for 2016: how to correctly take into account the annual clarifications of the Ministry of Finance

  Profit, it is reflected in the debit of account 99 “Profits and losses” and credit 96 “Reserves for future expenses ... etc.), as well as tax sanctions on them are reflected in the debit of account 99 “Profits and losses ...”. Fines and penalties paid by the taxpayer or ... are reflected in the expense accounts, account 99 is not used. Accordingly, in the report on ... profit for social purposes, the development of production, etc. does not change the balance of the account ...

• The procedure for transferring an organization from a JSC to an LLC on a simplified system: the nuances of accounting and taxation

  Separate) book of income and expenses of organizations and individual entrepreneurs using the simplified tax system ... profit and loss accounts and distribution (direction) based on the decision of the founders of the amount of net profit .... That is, the JSC closes account 99 "Profit and Losses", ... distributes, based on the decision of the founders, the amounts of net profit and ... in the book of income and expenses of organizations and individual entrepreneurs using ...

• Accounting for factoring companies that attract external financing

  Providing financing services to Clients at the expense of Investors. OSNO - classic ... as of the date of accounting for the goods and receipt of the invoice 68 / VAT (... instruction Balance sheet Account / sub-account Debit Credit Balance ... expenses) 99 (profit and loss) 0 Recognition of income, expenses from ancillary activities 99 (profit and loss) 68/ ... on the date of accounting for the goods and receipt of the invoice 68/VAT (... on the date of accounting for the goods and receipt of the invoice 68/VAT (...

• Correction of significant errors

  The account in the records is the account for accounting for retained earnings (uncovered loss), that is, account 84 “Retained earnings ... “Cost of sales” of account 90; Debit account 99 "Profit and loss", Credit account 90 "Sales", ... "Profit and loss"; Debit of account 84 "Retained earnings (uncovered loss)", Credit of account 99 "Profit and loss" - ... 500,000 rubles. - Adjusted the amount of net profit. B... based on basic and diluted earnings (loss) per share (if...

• Separate accounting of expenses and revenues for the supply of products as part of the execution of the state defense order

  ... (hereinafter - PBU 9/99) and PBU 10/99 "Organization's expenses" ... (hereinafter - PBU 10/99). A specific methodology for maintaining separate accounting ... hereinafter - the Chart of Accounts)). Based on the Chart of Accounts overhead and commercial expenses of trading ... (clause 21 PBU 4/99 "Accounting statements of the organization" ... (hereinafter - PBU 4/99)). Income and expenses of the organization are reflected in ... RAS 4/99). A more detailed specification of income and expenses is made ... different from the general procedure for accounting for profit and loss. For example, maintaining a separate ...

• Accounting rules for "babies" and NPOs are simplified

  Period 99 “Profit or Loss” (90 “Sales” - when using such an account) 20 (other accounts) Pay ... directly related to the acquisition, construction and manufacture of an item of property, plant and equipment, are included ... household inventory at a time in ... accounts 20 (other accounts for accounting for production costs - when used) and a credit of accounts ... settlements with counterparties, payroll personnel, etc. ...

• Imported goods spoiled: how to take into account customs VAT, disposal costs and insurance compensation

  Non-operating income taken into account when taxing profits, the Ministry of Finance of Russia recognizes the possibility of simultaneous ... with paragraph 2 of PBU 9/99 "Income of the organization" ... (hereinafter - PBU 9/99), an increase in economic income is recognized as income of the organization ... (p. 8 PBU 9/99), which are accepted for accounting ... organizations "(hereinafter - PBU 10/99), the organization's expenses are recognized as a decrease in economic ... production stocks, it assumes the attribution of losses to the account of the perpetrators and only in that ...

• Pledge. Accounting and taxation

  In particular, interest, forfeit, compensation for losses caused by delay in performance, and ... losses caused as a result of this event in the insured property (pay ... pledged property when taxing profits. Therefore, there is a risk that ... pledged property when taxing profits in full ... in particular interest, penalties, compensation for damages caused by delay in performance, and ... 99). The cost of materials specified in the pledge agreement and reflected earlier on the off-balance account ...

• Accounting for expenses by their nature and purpose

  Accounting for expenses is regulated by PBU 10/99 "Expenses of the organization". According to p. ... . Paragraph 8 of PBU 10/99 defines the grouping of expenses by ordinary ... a direct instruction in PBU 10/99 to attribute depreciation to ... expenses disclosed expenses financed by state assistance. True, these are not ... rules for classifying expenses. Pursuant to paragraphs 99-105 of IAS 1, “… vary in frequency, potential for profit or loss and predictability. This analysis is...

• Additional capital: formation, use and accounting procedure

  Reassessment of the object of property to the account of accounting for retained earnings (uncovered loss) of the organization upon disposal ... a possible markdown will have to be carried out at the expense of retained earnings. Moreover, it may turn out ... accounting entry on the debit of account 83 and credit of account 02 “Depreciation of fixed assets ... sales as part of final turnover 99 91-9 4 139.91 ... at the expense of authorized capital or profit. According to the author, replenishment and expenditure operations...

How is the final financial result of the enterprise for the year formed? How are the results summed up? In this article, we will take a closer look at account 99 “Profit and Loss”, why it is needed, and what postings on account 99 are reflected during the year. Accounting for the financial result of the organization shows the effectiveness of the company.

In the last article we analyzed, there I already indicated the connection between the mid. 90 and 99. We also analyzed and saw the connection between the mid. 91 and 99. We go further.

By the way, in the near future we will deal with.

Accounting for the financial result of the enterprise

The financial result for the month is formed using the account. 99.

What is the financial result?

1. financial result for the main activities,
2. other income and expenses.
3. income and expenses associated with emergency situations at the enterprise (fires, natural disasters, etc.).
4. accrued .

By debit 99 losses are reflected, on the loan - profit.

1. When reflecting the financial result for the main activities, account. 99 corresponds with .

Postings to reflect profit and loss from the main activities:

• D90/9 K99- posting to reflect profit from the main activity.
• D99 K90/9- posting to reflect the loss from the main activity.

2. When taking into account other income and expenses, c. 99 corresponds with .

Postings to reflect other income and expenses:

• D91 K99- other incomes are taken into account.
• D99 K91- other expenses included.

3. When accounting for income and expenses associated with emergency situations, c. 99 corresponds to various accounts, .

4. When accounting for accrued income tax payments c. 99 corresponds with .

At the end of the month, the total balance on the account is considered. 99, if the final balance is debit - the organization this month remained at a loss, if credit - in profit.

At the beginning of each month, the balance on account 99 is transferred from the previous month to the current month. Throughout the year, the balance of profits or losses is accumulated on account 99 on an accrual basis. At the end of the year c. 99 closes with final entries on .

Video lesson “Accounting for profit and loss on account 99: typical postings, examples”

In this video lesson, the rules for accounting for account 99 “Profit and Loss” are revealed, the corresponding accounts, standard entries and accounting examples are analyzed. The lesson is conducted by a consultant and expert of the site “Accounting for dummies”, chief accountant Gandeva N.V. ⇓

You can download the slides and presentation for the video from the link below.

Account closing transactions 99

• D99 K84- final financial result - profit.
• D84 K99- final financial result - loss.

At the beginning of next year, 99 is reopened.

As a result, at c. 84 is reflected at the end of the year either profit (on credit) or loss (on debit). Account 84 is used to distribute profits for any needs of the organization, for example, for payments to founders. Also, if earlier on the account. 84 was a loss, then this year's profit can cover the loss of previous years.

This is where we finish with the study of the Fundamentals of Accounting, we analyzed the main business transactions that occur in the enterprise, examined how the final financial result is considered. Before we start compiling accounting and tax reporting, we will analyze taxation: what taxes exist, how they are calculated. I suggest you go to the section Step 2.-.

Account 99 of accounting is an active-passive account "Profit and Loss". Designed for the accumulation and generalization of information on the formation of the financial result of the economic activity of the enterprise during the year. With the help of typical postings and practical examples for dummies, we will consider the specifics of using account 99, as well as the procedure for reflecting profit (loss) on account 99.

The name of the account clearly indicates its purpose: the account is used to accumulate and reflect the final financial result. The credit of the account reflects profits and incomes, the debit - losses and expenses.

In general, the structure of account 99 can be represented by the diagram:

Throughout the year, the account reflects:

• profits (losses) on ordinary activities - in correspondence with account 90;
• profits (losses) on other activities - in correspondence with 91 accounts;
• amounts of accrued conditional income (expense) for income tax;
• the amount of permanent liabilities and accrued payments, penalties, penalties, etc.

Schematically, the movements in the account can be reflected in the following form:

Extraordinary incomes (expenses) are the receipts (expenditure) of funds associated with unplanned events. For example, insurance indemnity receipts, losses due to natural disasters and emergencies, etc.

At the end of the reporting year, account 99 is closed to account 84 “Retained earnings (loss)”, and there is no balance left on it. Profit will be reflected by posting Dt 99 - Kt 84, loss Dt 84 - Kt 99.

Account 99 corresponds with accounts:

Posting Dt 99 - Kt 09 means the disposal of the object IT, accounted for by Dt 09.

Sub-accounts 99 accounts

The analytics of account 99 should be built taking into account the possibility of generating a Report on the financial results of the enterprise. For these purposes, it is recommended to create main sub-accounts for the account:

Get 267 1C video lessons for free:

• 99.1 - profits and losses (except for NP);
• 99.2 - income tax;
• 99.3 - extraordinary income (expenses);
• 99.6 - tax sanctions;
• 99.9 - other losses and profits.

At the discretion of the organization, the numbers and purpose of sub-accounts may change. Also, for a more detailed reflection of information, organizations can create sub-accounts of the 3rd or 4th levels for these subaccounts.

According to the current Chart of Accounts, income tax (IT) is charged on account 99 in correspondence with account 68, a sub-account of NP settlements. To do this, separate sub-accounts are created on account 99, most often 99.2 “Income tax”, which can be divided into sub-accounts to reflect conditional income and conditional expense for NP.

The amount of tax accrued to the budget is reflected in the posting Dt 99 - Kt 68.

Posting type Dt 68 - Kt 99 "Conditional income from NP" reflects the loss received in accounting.

Closing 99 accounts

There are several ways to close 99 accounts. But the method using the sub-account 99.9 can be considered methodologically correct. In this case, the total for all sub-accounts 99 is collected on this account, that is, the sub-account can be called a regulatory one.

During the year, when the account is closed monthly, the balance Dm means a loss, the balance Km means profit. Consequently, at the end of the year in correspondence with account 84, the debit balance will mean profit, and the credit balance will mean a loss.

Postings and examples of using 99 accounts

Example 1. Write-off to account 99

Let's say SDM-Project LLC purchased equipment worth 800,000 rubles in December 2014, with a useful life (PI) of 5 years, the depreciation method in BU is the reducing balance method and in NU is linear.

Let's do the calculation. For 2015-2016, the accumulated depreciation amounted to: in accounting - 288,000 rubles, in NU - 320,000 rubles. The amount of VVR amounted to 32,000 rubles, IT is equal to 32,000 * 20% = 6,400 rubles.

In December 2016, the OS was sold. The write-off of SHE during this operation is reflected in the posting:

Example 2. Monthly closing of 99 accounts

Let's assume that Kvadrum 10 LLC in January 2016 rented out property and paid interest on the loan. Renting for the organization is other income, not the main activity. Rent in the amount of 118,000 rubles was accrued, incl. VAT 18 000 rub. The amount of interest paid was 42,000 rubles.

Reflection of operations by postings:

Simultaneously with the closing of the period, the BU reflects the conditional expense for NP. In our case, its amount will be: 58,000 * 20% = 11,600 rubles.

The amount of the accrued tax is reflected in the posting:

Example 3: Closing the year

As of this date, the following amounts are reflected in the accounting records of SPA Active:

1. 90.1 (revenue) - 1,888,000 rubles, incl. VAT 288 000 rub.
2. 90.2 (cost) - 520,000 rubles.
3. 90.3 (VAT) - 288,000 rubles.
4. 90.5 (general expenses) - 115,000 rubles.
5. Kt 90.9 - 965 000 rub.
6. 91.1 (other income) - 210,000 rubles.
7. 91.2 (other expenses) - 230,000 rubles.
8. Dt 91.9 (balance of other income-expenses) - 20,000 rubles.
9. 99.1 (profit and loss) - 640,000 rubles.
10. 99.2 (calculations for NP) - 195,000 rubles.
11. 99.3 (tax sanctions) - 10,000 rubles.

Dt	ct	Operation description	Amount, rub.	Document
90.1	90.9	Closing 90.1	1 888 000	Accounting reference
90.9	90.2	Closing Reflection 90.2	520 000	Accounting reference
90.9	90.3	Closing Reflection 90.3	288 000	Accounting reference
90.9	90.5	Closing Reflection 90.5	115 000	Accounting reference
91.1	91.9	Closing 91.1	210 000	Accounting reference
91.9	91.2	Closing 91.2	230 000	Accounting reference
99.1	99.9	Closing 99.1	640 000	Accounting reference
99.9	99.2	Closing 99.2	195 000	Accounting reference
99.9	99.3	Closing 99.3	10 000	Accounting reference

The actual reformation of the balance sheet is reflected in the posting.

This allows you to create a preliminary working balance that reflects the real financial situation of the organization. Knowing all the distinctive features that account 99 "Profit and Loss" has, young professionals will be able to understand all the features of accounting. Do not forget about PBU, as well as legal reference systems, without which the legal activity of enterprises is impossible. 18 Superfoods for Your Heart Health Today we are going to talk about foods that should be in your diet on a regular basis. All of them will make the heart work without interruption .... Healthy eating How to look younger: the best haircuts for those over 30, 40, 50, 60 Girls in their 20s do not worry about the shape and length of their hair. It seems that youth was created for experiments on appearance and bold curls. However, after…

Debit 99

To form the final financial result, account 99 “Profit and Loss” is used, debit 99 of the account shows losses, credit - profit. The final results of the activity for the year are shown in the balance sheet - a detailed filling of the balance sheet and a completed sample. At the end of each month, on accounts 90 and 91, the financial result from activities for the past month is formed, the resulting total profit or loss is written off from these accounts to account 99 of the accounting records with the following entries:

• D90 / 9 K99 - reflected profit from ordinary activities,
• D99 K90 / 9 - reflected losses from ordinary activities,
• D91 / 9 K99 - reflected profit from other income and expenses,
• D99 K91/9 - losses from other income and expenses are reflected.

During the calendar year, from month to month, profits and losses accumulate on account 99.

Characteristics of account 99 in accounting

Accounting accounts are designed to record all monetary transactions in them. In this review, 99 Profit and Loss account will be considered in detail. The reader will learn about what functions it performs, whether it can have its own categories, how to work with it and close it.
The information is accompanied by examples that help to better understand the topic. Purpose of account 99 Each company works to achieve the main goal - increasing profits. The financial result is the sum of all income from each type of activity.
To sell goods or services, you will need to invest money, but how profitable it will be in the reporting period will become known after summarizing all the information on cash costs and receipts.

Account 99 "profit and loss"

Attention

Postings for closing account 99 at the end of the year:

• D84 K99 - final financial result for the year - loss;
• D99 K84 - final financial result for the year - profit.

Reformation of the balance sheet Reformation of the balance sheet is the closing of accounts related to the formation of the financial result of the company. Closing accounts is the zeroing of their final balance. The reformation concerns the following accounts: 90 “Sales”, 91 “Other income and expenses”, 99 “Profit and loss”.

Based on the results of the balance sheet reformation, the final profit or loss is revealed on account 99 and transferred to account 84 with the entries indicated above. The reformation allows you to end the year, reset the accounts and start accounting in the new year from a “clean slate”.

Formation of the final financial result

This is what account 99 is intended for, which can reflect:

• increase or decrease in income from the main activity (D90 K99);
• balance of other expenses and income for the reporting period (D91 K99);
• the impact of emergency situations on economic activity (force majeure, accidents);
• accrual of amounts intended for tax calculation (interaction with account 68).

Is it possible to open new sub-accounts? According to the instructions, the account in question has no categories. The accountant can independently create them, taking into account the requirements of the enterprise (analysis, control, reporting).

Formation of the financial result for the year

The same entry will reflect the accrual of fines and penalties to the budget for income tax, VAT and other taxes. Sanctions against extra-budgetary funds (for example, PFR) must be calculated as follows: Debit 99 - Credit 69 "Calculations for social insurance and security." If accounting for profit settlements is maintained in accordance with PBU 18/02, then debit account 99 can also correspond, in particular, with account 09 “Deferred tax assets”. So, accounting entry D99 K09 is made when writing off a deferred tax asset in the event of disposal of the object for which it was accrued. Closing of account 99 At the end of the year, account 99 is reset to zero with the difference being credited to account 84 “Retained earnings (uncovered loss)”: the so-called “balance sheet reformation” takes place.

Account 99 "profit and loss"

Correspondence on the loan Account 99 "Profit and Loss" interacts on the loan with the following categories:

• "Materials" (10).
• "Financial transactions with suppliers and contractors" (60).
• "Currency and settlement accounts" (52, 51).
• "Retained earnings" (84).
• "Sale of goods" (90).
• "Shortage and damage from damaged valuables" (94).
• "Reserves for future costs" (96).
• "Special bank accounts" (55).
• "On-farm calculations" (79).
• "Financial transactions with creditors and debtors" (76).
• "Other expenses and income" (91).
• “Settlements with employees for various operations” (73).

Loan Transactions The table provides some examples to help you understand what kind of credit posting account 99 may have, reflecting the profit (income) of the company. D10 K99 Identification of excess materials.

99 account - "profit and loss." debit and credit of account 99

Info

Sub-account 99-5 takes into account (reflects) extraordinary expenses by type or group (as a result of fires, death of livestock due to an epizootic, death of crops due to drought, etc.). Sub-account 99-6 takes into account (reflects) operations for accruing income tax and financial sanctions (the amount of income tax, fines and penalties to the budget). Sub-account 99-7 takes into account (reflects) the profit or loss of the reporting year, identified by comparing the total profit and total loss on sub-accounts 99-1, 99-2, 99-3, 99-4, 99-5, 99-6.

At the end of the reporting year, when compiling the annual financial statements, account 99 “Profit and Loss” is closed. In this case, the final entry in December, the amount of net profit (loss) of the reporting year is debited from account 99 “Profit and Loss” to the credit (debit) of account 84 “Retained earnings (uncovered loss)”.
To do this, on the last day of each month, credit and debit turnovers are compared: Account 90 “Sales” Debit Credit 18,000 118,000 85,000 Turnover 103,000 Turnover 118,000 Balance 15,000 In order for account 90 to close at the end of the month, you need to debit it for 15,000 rubles : Operation Debit account Credit account Amount, rub. Reflected the profit at the end of the month from ordinary activities 90, sub-account "Profit / loss from sales" 99 15 000 Thus, account 90 was closed: Account 90 "Sales" Account debit Account credit 18 000 118 000 85 000 15 000 Turnover 118 000 Turnover 118,000 - - If, at the end of the month, the debit turnover of account 90 turned out to be greater than the credit turnover, then a loss occurs, which is reflected in the reverse entry: Debit 99 - Credit 90.

Closing debit balance on account 99 profit and loss

On account 99 "Profit and loss" during the reporting year are reflected: - profit or loss from ordinary activities - in correspondence with account 90 "Sales"; - the balance of other income and expenses for the reporting month - in correspondence with account 91 "Other income and expenses"; - losses, expenses and income due to emergency circumstances of economic activity (natural disaster, fire, accident, nationalization, etc.) - in correspondence with the accounts of material values, settlements with personnel for wages, cash, etc. . Extraordinary income is income arising from the consequences of extraordinary circumstances of economic activity (natural disaster, fire, accident, nationalization, etc.): insurance compensation, the cost of material assets remaining from the write-off of assets unsuitable for restoration and further use, etc. .
Similarly, profit and loss are revealed for other types of activities, income and expenses from which are taken into account on account 91: Debit 91 - Credit 99 means that profit was generated for other activities at the end of the month. Debit 99 - Credit 91 means that there was a loss on other income and expenses for the month. Account 99 – for income tax settlements Account 99 during the year also reflects the amounts of accrued conditional income tax expense and income, permanent tax liabilities and assets and payments for recalculations of this tax from actual profit, as well as the amounts payable tax sanctions.

So, the accrual of a conditional income tax expense in accordance with PBU 18/02, as well as simply income tax on the basis of a declaration, if accounting for calculations under PBU 18/02 is not kept, will look like this: Debit 99 - Credit 68.