Many organizations take or provide loans in their work. They can be both in relation to legal entities and in relation to individuals. According to the Civil Code of the Russian Federation (Article 807, Chapter 42), the parties conclude an agreement in the form of an agreement in which the lender provides material assets to the borrower, and the borrower undertakes to return them within the period specified in the document. If the contract provides for interest, it is also payable. When concluding a loan agreement, the accountant must reflect this transaction in accounting.
Instructions
Step 1
When concluding a loan agreement, conditions such as the repayment period, the method of providing and returning valuables, and the availability of interest should be stipulated. After the loan has taken place, the accountant must reflect this in the accounting.
Step 2
The supporting documents for accounting for a loan are: an agreement, a payment order and an extract from the current account (if the loan was provided through a current account), an expense note (in the case of transactions through the cashier).
Step 3
When receiving a loan by an organization, an accountant must reflect this as follows: D51 "Current account" or 50 "Cashier" K66 "Settlements for short-term loans and borrowings" - a loan has been received to the current account (to the cashier).
Step 4
If you have to pay interest under the loan agreement, their payment should be recorded as follows: D66 "Settlements on short-term loans and borrowings" K51 "Current account" or 50 "Cashier" - interest has been repaid under the loan agreement.
Step 5
For the convenience of calculations, you can independently open a subaccount to account 66, where the debt under the loan agreement and interest will be divided. Then, when paying off the main debt, you need to choose the desired subaccount.
Step 6
If you provided a loan, then you need to reflect this in this way: D66 "Settlements for short-term loans and borrowings" K51 "Current account" or 50 "Cashier" - funds are transferred under the loan agreement;
D51 "Current account" or 50 "Cashier" K66 "Settlements for short-term loans and borrowings" - funds were received from the borrower.
Step 7
In the event that the borrower is neither a legal entity, nor an employee of the campaign, you must reflect the provision of a loan as follows: D 58 "Financial investments" subaccount 3 "Loans provided" K 50 "Cashier" or 51 "Current account" - a loan is provided to an individual.
Step 8
In the event that the borrower works for you, the entry is made: D 73 "Settlements with personnel for other operations" subaccount 1 "Settlements on loans provided" K50 or 51 - a loan is provided to an employee of the organization.
