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69. ACCOUNTING FOR FOREIGN TRADE OPERATIONS: EXPORT OPERATIONS
The accounting of foreign trade operations in each specific organization is determined by a number of factors: the form of settlements with suppliers and buyers; the procedure for the transfer of ownership of the exported goods to the buyer; participation of intermediary organizations.
The procedure for keeping records of foreign trade operations is largely determined by the requirements of state and credit authorities for the movement of funds, goods and documentation.
Export operations. The main documents for the export of goods are a contract for the supply of goods, a transaction passport, a dossier, a bank control statement, a cargo customs declaration, customs and bank control registration cards, invoices, waybills, etc.
Synthetic accounting of goods shipped for export is carried out on account 45 "Goods shipped" or on account 62 "Settlements with buyers and customers". Score 45 is used if the supply agreement provides for a different procedure for the transfer of ownership of the goods from the importer's organization to the buyer.
Availability and traffic information reserved funds reflected on account 55 "Special accounts in banks", sub-account "Foreign exchange transactions reservation account": Dt 55, Kt 51; Room 51, Room 55.
Reservation can be omitted if the contract provides for the use of such a form of payment as an irrevocable letter of credit, a promissory note avalized by a foreign bank, there is a bank guarantee of a foreign bank, a property insurance contract has been concluded in favor of a resident - a Russian organization.
Basic accounting entries for accounting for export operations carried out directly between the seller and the buyer: Dr. c. 45-2, Kt 43-1; Dt 44-1, Kt 60; Dt 60, Kt 51; Dt 44-1, Kt 68; Dt 60, Kt 52-1.
The following is how the cost of goods sold is reflected in the Sales account after ownership has passed to the buyer, in this example after the product has been delivered to its destination by a third-party trucking company.
Formation of the actual cost and accounting for the sale of exported products: Dt 90-2, Kt 45-2; Dt 90-2, Kt 44-1, 44-2; Dt 62, Kt 90-1; Dt 68, Kt 51.
Entries on the accounting accounts of receipt and mandatory sale of foreign exchange earnings: Dt 52-1-1, Kt 62; Dt 57, Kt 52-1-1; Dt 52-1-2, Kt 52-1-1; Dt 91-2, Kt 57; Dt 51, Kt 91-1; Dt 91, Kt 99.
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