Advice 1: How to translate short-term loans long-term

Are considered short-term loans areissued for 12 months. All other loans are long term. The conversion of loans from one type to another regulates PBU 15/1 from 1.01.02. When translating it is necessary to observe certain sequence.
How to translate short-term loans long-term
You will need
  • - a contract or additional agreement;
  • - the new schedule of repayment of the loan;
  • - journal entries;
  • - the decision of the court.
Instruction
1
If the client is unable to make timely payment on the loans, you can transfer a short-term loan into long-term. Terms of debt restructuring must be agreed by both parties.
2
In accordance with the current legislation you can renew the contract or make an additional agreement to the current document.
3
A new agreement or supplemental agreement make two copies for each party, put the signature of an authorized officer of the credit institution and the customer or the notary Trustee.
4
Before signing a new contract or additional agreement put out a new schedule of monthly repayment of the debt. Schedule match with the new conditions applicable to the credit institution at the time of signing the contract.
5
All data for the loan transfer with debit on the debit side 66 and 67 of the loan 51 loan 52. For a cash transaction, make the cost of credit is 50.
6
If all payments on a short-term loan were disbursed in a timely manner, the loan is not considered overdue and a long-term loan does not bear any penalties. If the timing of the payments were overdue, you have the right to assess and collect a penalty of 1/300 of the outstanding amount of the loan for each overdue day.
7
The conversion of loans from short-term to long-term is carried out not only by mutual agreement between the client and the creditor, but the judgment of this court, if the client came back with a statement on its insolvency. In this case, the debt restructuring may be issued for a period of 5 years. This is most often done in the case if the lender is unable to obtain as the calculation of the customer's assets or seize Bank account due to the fact that the client simply nothing.

Advice 2 : How to return the loan to the founder

During the implementation of the financial activities of the executives can be such a seemingly hopeless situation, such as imminent bankruptcy. Of course, the founders if possible try to stabilize the financial status for this they give the organization a loan. This amount the institution must return to the lender within the contract terms.
How to return the loan to the founder
Instruction
1
First of all you must carefully read the contract of the loan. If it has a payment schedule, you must strictly adhere to deadlines. If the contract has no expiration period, upon request of lender you are obliged within one month to repay the borrowed funds.
2
If the loan was provided in a currency according to article 317 of the Civil code of the Russian Federation, monetary funds shall be paid to the founder in rubles, the amount of which shall be the equivalent amount in foreign currency.
3
If the loan is a short-term, that is concluded for a period of less than 12 months, you will have to reflect it on account 66 "Calculations on short-term loanam"; if more than 12 months – on account 67 "Calculations on long-term loanam".
4
In accounting these operations reflect the following:- Д51 or 50 or 67 К66 received a loan from the founder;- Д68 sub-account "income Tax" К77 – reflect deferred tax liabilities arising from different ways of calculating interest;- Д91 К66 or 67– reflects the accrual of interest on the received loan;- 67 K68 Д66 or sub-account "income tax" - the amount deducted personal income tax from the income of the founder;- Д68 subaccount "pit" K51 – sum of NDFL are listed in the Federal budget;- Д66 or 67 K51 or 50 –the amount of the loanand returned to the founder of the company;- Д77 K68 sub-account "income Tax" reflects the repayment of tax obligations.
5
In that case, if the loan is provided in foreign currency, arising sum differences relate to operating expenses. In accounting this operation reflect, with the following correspondence of accounts:- Д91 К66 – reflected the amount difference resulting from granted a loan.
6
If the founder forgave the amount of the loanand the company's debt should be charged to non-operating income of the organization.

Advice 3 : To issue a loan to the founder

According to article 807 of the Civil code, the contract of loan organization lender agrees to provide money or other things for temporary use to the founder-borrower, the same should return negotiated in the contract amount in time.
To issue a loan to the founder
Instruction
1
Question about cash or other material assets, decide, at a meeting of participants (shareholders) of the company. The results are formalized in the form of a decision or Protocol. In this document specify the amount and term of the loan.
2
First sign a contract of loan with the founder. Here you must indicate whether the cash interest free how long is a legal document, how will be the refund amount (on a schedule of payments or a single sum). To the contract, you can make a payment schedule.
3
In that case, if the contract loan you do not list the term, the settlor must return the Deposit or other valuables within one month after your notification of the performance of duties under the contract.
4
The contract is concluded at the moment of transfer of money funds to the founder. The results of loan apply with the cash voucher which has a unitized form KO-2. If the results of funds occurs through the current account of the organization, to confirm the operation it will be enough payment orders and Bank statements. In that case, if the loan is in kind, please fill out the invoice, for example, the release of materials.
5
If the loan was issued in cash, accounting transaction, do the following: Д53 sub-account "loans Granted" K51 or 50 – reflected the results of the loan.
6
In that case, if the loan was issued in the form of values, for example in the form of material, reflect this in the following way: Д58 sub-account "loans Granted" К01 or 10 or 41 – the loans issued in physical form.
7
In the accrual and the interest refer to the Position on accounting 9/99. All documents on the loan being drawn up, referring to the Civil code of Russia.

Advice 4 : What are the risks of an interest-free loan to the founder

Interest-free loan from the founder of the organization faces the necessity to pay taxes on the income of natural persons. Under certain conditions, this risk can be avoided by paying minimal interest to the lender.
What are the risks of an interest-free loan to the founder
Many founders get money from the organizations they established as an interest-free loan. Such an operation is issued account cash warrant or Bank transfer of funds to the personal account. The main risk is that the obligation to pay the tax provided by applicable law for physical persons, receiving material benefit from the use of an interest-free loan. The founder is equivalent to a conventional borrower, it does not provide any privileges upon receipt of funds in the organization as a loan.

How to calculate material benefit of the settlor?



The obligation to pay the tax with material benefit received as a result of using an interest-free loan, provided by article 212 of the RF Tax code. If the loan is interest free or interest rate for use of funds less than two-thirds of the current refinancing rate, the settlor will receive a taxable benefit. With an interest-free loan to calculate a specified gain, multiply the loan amount by two-thirds of the refinancing rate, and then divide the resulting value by 365 and multiplied by the number of calendar days of the loan. The result is a material gain in roubles, and then should calculate and pay thirty-five percent of this amount because such a tax rate is established for income of this type. The organization will calculate and pay this tax by holding funds from the salary of the founder, if he concurrently holds any position in this company. If the founder of the company is not working, then he alone must pay the appropriate amount of tax.

How to avoid paying tax on the settlor?



The founder may avoid paying tax in the budget the only way is to establish interest on the loan. In this case the interest you will have to pay the private company, and the interest rate shall be not less than 2/3 of the refinancing rate. The only option of interest-free use of cash without the risk of incurring additional costs in the form of taxes is a loan for the purchase of housing provided by the founder, who has the right to a property deduction and uses the relevant law.
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