How To Issue A Loan To An Employee

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How To Issue A Loan To An Employee
How To Issue A Loan To An Employee

Video: How To Issue A Loan To An Employee

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Video: How to record employee Loan on QuickBooks 2023, January

When carrying out financial and economic activities, some organizations issue loans to their employees. These operations must be formalized in accordance with the Civil Code of the Russian Federation and reflected in the accounting records.

How to issue a loan to an employee
How to issue a loan to an employee


Step 1

First of all, get a letter from the employee asking for a loan. Here he must indicate not only the amount, but also the reason. An application for receiving funds may sound as follows: “I am asking you to provide me with a loan for the acquisition of real estate in the amount of 1,000,000 rubles for a period of five years. Upon my dismissal, I undertake to repay the loan ahead of schedule, and all interest on it. I have read and agree with the procedure for providing funds. " Also in this application, you can indicate the details by which the loan amount should be transferred.

Step 2

With an affirmative answer to the above-written application, complete the contract. Here, indicate the size of the loan, the purpose, the form of issue and return (that is, in cash or through a current account), the repayment period. You can also create a payment schedule. If you want to withhold payments from the employee's salary, write it down in the loan agreement. Both parties must sign the contract, after which it is sealed with a blue stamp of the organization's seal.

Step 3

You can also draw up an annex to the contract. It will sound like this: "Obligation of the borrower". Here the employee must confirm that he will use the loan for its intended purpose. Obligate him to provide you with all supporting documents.

Step 4

Then issue a loan order. The basis for drawing up the administrative document will be the employee's application. Here, specify the employee's data, the loan amount, the repayment period, the amount of interest (if the contract is interest-free, you omit this condition). Sign the order and give it to the employee for review.

Step 5

Pass the order to the accounting department for further accounting in accounting and tax accounting. The accountant must make the following entries: D 73 subaccount "Calculations on loans granted", K 50 or 51 - a loan was issued to an employee; D 73 subaccount "Calculations on loans granted", K 98 - interest accrued under the loan agreement; D 98, K 91 - interest is credited to the financial result; D 70, K 68 subaccount "personal income tax" - reflected personal income tax from material benefits (35%); D 50 or 51, K 73 subaccount "Calculations on loans granted" - the loan is returned.

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