Accounting. Settlements with buyers and customers (the most important)

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Accounting. Settlements with buyers and customers (the most important)

Lecture notes, cheat sheets

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44. Settlements with buyers and customers

Account 62 "Settlements with buyers and customers" is designed to summarize information about settlements with buyers and customers.

Account 62 "Settlements with buyers and customers" is debited in correspondence with accounts 90 "Sales", 91 "Other income and expenses" for the amounts for which settlement documents are presented.

Debit account 62 "Settlements with buyers and customers"

Credit of account 90 "Sales", account 91 "Other income and expenses" - an invoice was presented to the buyer.

Account 62 "Settlements with buyers and customers" is credited in correspondence with cash accounts, settlements on the amount of payments received (including the amount of received advances). In this case, the amounts of received advances and prepayments are accounted for separately. The following entry is reflected in the account:

Debit of account 50 "Cashier", account 51 "Settlement accounts", etc.

Credit of account 62 "Settlements with buyers and customers" - the amounts of payments received from buyers (customers) are reflected.

When selling finished products to the buyer, the following accounting entries are reflected.

1. Finished products shipped to the buyer at the actual cost:

Debit of account 90 "Sales", subaccount "Cost" Credit of account 43 "Finished products".

2. An invoice has been presented to the buyer:

Debit of account 62 "Settlements with buyers and customers" Credit of account 90 "Sales".

3. Value added tax was charged on the sold finished products:

Debit account 90 "Sales"

Credit of account 68 "Calculations on taxes and fees".

4. Payment received from the buyer for the finished product:

Debit of account 50 "Cashier", account 51 "Settlement accounts" Credit of account 62 "Settlements with buyers and customers".

If an interest is provided on the received bill that secures the debt of the buyer (customer), then as this debt is repaid, an entry is made on the debit of account 51 "Settlement accounts" or 52 "Currency accounts" and the credit of account 62 "Settlements with buyers and customers" (on the amount of debt repayment) and 91 "Other income and expenses" (by the amount of interest). The account reflects:

Received funds from the buyer:

Debit of account 51 "Settlement accounts" Credit of account 62 "Settlements with buyers and customers".

The percentage value is included in the income of the organization:

Debit of account 51 "Settlement accounts" Credit of account 91 "Other income and expenses".

Analytical accounting on account 62 "Settlements with buyers and customers" is conducted for each invoice presented to buyers (customers), and in case of scheduled payments - for each buyer and customer. At the same time, the construction of analytical accounting should provide the possibility of obtaining the necessary data on:

▪ buyers and customers on payment documents for which the payment deadline has not yet arrived;

▪ buyers and customers for settlement documents not paid on time;

▪ advances received; bills for which the due date for receipt of funds has not yet arrived;

▪ bills discounted (discounted) in banks;

▪ bills for which funds were not received on time.

Accounting for settlements with buyers and customers within a group of interrelated organizations, on the activities of which consolidated financial statements are compiled, is kept on account 62 "Settlements with buyers and customers" separately.

Author: Kabkova E.N.

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