Materials are inventories purchased by an organization that serve as means for making products or servicing a process. These stocks are reflected on account 10, to which various sub-accounts can be opened. Also, the organization can reflect the movement of materials on accounts 15 "Procurement and acquisition of material assets" or 16 "Deviation in the cost of material assets". Writing off materials is carried out when deficiencies, damage are identified, as well as when they are recognized as unsuitable for further use.
It is necessary
- - act of writing off materials;
- - accounting information.
In order to write off materials, it is required to collect a commission, which consists of financially responsible persons. Members of the meeting draw up an act of write-off. This document must necessarily contain the date of compilation, location, names and positions of all members of the commission, the name of the written off materials, the reason for the write-off, quantity, price and amount. The act is signed by all members of the commission and approved by the head of the enterprise.
When materials are recognized as written off, the accountant must make the following entries: D94 "Shortages and losses from damage to valuables" К10 "Materials" - the book value of the written off materials is reflected. This entry should be reflected on the basis of the write-off certificate. Д20 "Main production" К94 - reflects the cost of shortage or damage within the limits of natural loss. This is done on the basis of an act and an accounting statement. If the write-off is made to the perpetrators in excess of the loss, then the debit account will be 73 "Settlements with personnel for other operations" subaccount 2 "Settlements for compensation for material damage".
If the materials are written off due to natural disasters, then a record is made: D99 "Profits and losses" K10. This operation is done on the basis of an act and an accounting statement. After that, it is necessary to restore the VAT that was previously paid. This is done with the help of the following entries: D99 K68 "Calculations of taxes and duties No. subaccount" VAT ".
If the materials are written off under a free use agreement, then you need to draw up a consignment note, an application for the release of materials to the side, an agreement and other documents. After that, an entry is made in the accounting: D91 "Other income and expenses" subaccount 2 "Other expenses" K10 and D91.2 K68 subaccount "VAT" (VAT charged).