How to reflect in accounting the loan

In the process of implementation of financial-economic activity of the enterprises managers can apply for loans from other entities. According to Russian law, the borrower and the lender must sign a contract that defines all rights, responsibilities and conditions of the loan.

Instruction

1. First you need to check the correctness of all the documents, because on this basis they make a transaction in the accounting and tax accounting. First, carefully read the loan agreement. Please note the conditions such as time, the procedure of submission of documents for the loan, payment schedule. Check the details of the organization.
2. For example, according to the agreement, the loan amount was credited to your account. In this case, on the basis of statements and payment orders in the accounting accounting make posting: Д51 К66 or 67 – the amount received under the loan agreement.
3. Then, on the basis of the prepared accounting information-calculation , make the following entry: Д91 sub-account "other costs" К66 – accrued the amount of interest that shall be payable under the loan agreement.
4. If the interest were transferred from the settlement account on the basis of statements and payment orders, make Postings: Д66 K51 – listed loan amount from the account. If the interest is issued using cash, please fill out the expendable cash order and a credit to indicate a score of 50. Interest rates will reflect in the same way, but remember that the wiring should be separate, i.e. don't combine principal payment and interest in the same amount as when calculating the tax on the profit you will get confused.
5. Loans are short-term (less than a year) and long term (year and more). In the first case, you should reflect them on the score of 66, second 67. If you take a long-term loan, and before maturity is 365 days, you can transfer the amount to the account 66.
6. The loan can be obtained in the form of products or materials. In this case, make the wiring connection: Д41или 10 К66 or 67.
7. When calculating income tax include the amount of interest in costs, but their size should not be above the average level of interest. To calculate the interest that can be included in the taxable base, use the refinancing rate of the CBR.