Accounting financial accounting. Accounting for transactions on special bank accounts (the most important)

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Accounting financial accounting. Accounting for transactions on special bank accounts (the most important)

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10. ACCOUNTING FOR OPERATIONS ON SPECIAL ACCOUNTS WITH BANKS

Special accounts are opened by the bank for the separate storage of a part of the client's non-cash funds intended for specific purposes. To account 55 "Special bank accounts" sub-accounts can be opened: 55-1 "Letters of credit"; 55-2 "Checkbooks"; 55-3 "Deposit accounts", etc.

On sub-account 55-1 "Letters of credit" the movement of funds in letters of credit is taken into account.

Letter of credit - a conditional monetary obligation accepted by the bank on behalf of the payer, to make payments in favor of the recipient of funds upon presentation by the latter of documents corresponding to the terms of the letter of credit, or to authorize another bank to make such payments. Issuing banks can open the following types of letters of credit:

1) covered (deposited) and uncovered (guaranteed);

2) revocable and irrevocable (can be confirmed).

The transfer of funds to letters of credit is reflected in the following accounting entry: Dt 55 "Special accounts in banks", subaccount 55-1 "Letters of credit" Kt 51 "Settlement accounts", 52 "Currency accounts", 66 "Settlements on short-term loans and loans."

As these funds are used (according to bank statements), an entry is made: D-t 60 "Settlements with suppliers and contractors" K-t 55 "Special bank accounts", sub-account 55-1 "Letters of credit".

Unused funds in letters of credit after the restoration of the bank to the account from which they were transferred are reflected in the accounting entry: Dt 51 "Settlement accounts", 52 "Currency accounts" Kt 55 "Special accounts in banks", subaccount 55-1 "Letters of Credit".

Analytical accounting for sub-account 55-1 "Letters of credit" is maintained for each separately issued letter of credit.

Checks. A check is an unconditional security. The check is paid by the payer at the expense of the drawer's funds. The drawer (i.e., a legal entity that has funds in a bank account) does not have the right to revoke a check before the expiration of the deadline for its presentation for payment.

Presentation of a check to the bank serving the holder of the check (the legal entity in whose favor the check is issued) to receive payment is considered to be the presentation of the check for payment. For non-cash payments, checks issued by credit institutions may be used.

The payer of the check is obliged to verify by all means available to him the authenticity of the check. The procedure for imposing losses incurred as a result of payment by the payer of a false, stolen or lost check is regulated by law.

On sub-account 55-2 "Checkbooks" the movement of funds in checkbooks is taken into account.

Sub-account 55-3 "Deposit accounts" takes into account the movement of funds invested by the organization in bank and other deposits (savings certificates for deposit accounts in credit organizations, etc.). However, according to PBU 19/02 "Accounting for financial investments", deposits in credit institutions are accounted for as financial investments.

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