How is the balance sheet for account 01 formed and used?

The balance sheet is one of the main and most important purely accounting documents, which is essentially a report on the movement of financial resources in the accounts of the enterprise, as well as balances on them at the beginning and end of a certain period. It is the basis for drawing up a balance sheet and is a form that contains data on the debit and credit of each subaccount, their intermediate and final indicators. Experts consider it as the last link in the chain of preparation for tax and financial reporting.

It is worth noting that not all enterprises use balance sheets in their activities, but if this document is included in the company’s document flow, then it must be approved in its accounting policy.

Turnover balance sheet

How to understand the basics of accounting

To work, all types of possible income, expenses and transactions are coded into accounts. Types of accounting accounts:

synthetic;
analytical (sub-accounts).

The difference between them is the degree of detail. The process of encoding accounts began back in 1968, when the first “Regulations...” was approved by letter No. 130 of the USSR Central Statistical Office. Since then, the recommendations have changed several times.

As an example, we can give an analytical accounting of office property: table, chair, wardrobe, etc. These items can be combined into the concept of furniture and passed through the corresponding subaccount in one line. A calculator, a computer - go through the analytical account, and in the sub-account they will be reflected in the “Technical means” column. Everything together will be assigned to the synthetic account “Fixed Assets”. This is article 01 according to the accounting code. The example contains very different estimated value categories, but it gives an idea of the accounting structure.

What does the account number show?

The account code can contain up to seven digits. The first two digits from 01 to 99 include all possible accounting transactions. And the concept of “others” and the availability of free codes make this system universal. The first two digits make up the list of synthetic accounts as amended by Orders of the Ministry of Finance of the Russian Federation No. 38-n dated 05/07/2003, No. 115n dated September 18, 2006 and No. 142n dated 11/08/2010.

The same letter offers a number of subaccounts, which are coded by the third and fourth digits of the code. Sub-accounts can be detailed, and analytical accounts are completely left to the management of the company. In practice - the experience of the chief accountant. The process of forming a range of codes for an enterprise according to the conditions of its activity is a common task for accounting students.

To learn how to prepare a balance sheet, you should analyze the model of active and passive accounting accounts

Basic rules for drawing up a balance sheet

Today, there is no standardized, obligatory sample of this document, so it can be drawn up in free form or using special templates. Sometimes companies develop their own statement forms (based on their own needs) and subsequently print them in a printing house.

At first glance, the balance sheet may seem like a simple set of numbers divided into different columns. However, in fact, it is a clearly structured summary table into which information is entered on various transfers, economic and financial operations of the enterprise, including such as writing off production costs, calculating taxes, calculating depreciation, generating reports, etc. .

The document always indicates

name of the enterprise or organization,
whose accounting department generates the document,
account numbers (sometimes with their decoding),
specific amounts.

An important condition: if compiled correctly, the final numbers in all columns of the statement must match.

The balance sheet belongs to the category of regular documents and is compiled, as a rule, once a month in a single copy.

It is not necessary to sign the document, but if necessary, it must be certified by the employee who was involved in its preparation or verification (for example, the chief accountant). Likewise, there is no need to put a stamp on the document.

Balance sheets, like any other accounting documents, must be kept for at least five years.

How a beginner can understand accounting

Not all accounting rules are regulated by regulations. Most operations are based on primary accounting documents: acts, certificates, invoices, checks, orders, etc. For primary documents, unified forms and recommended samples are provided. The form of the unified document is approved by the relevant instructions and can
only be changed by entering additional details
. A list of most of these forms with design examples can be found at this link.

How do unified documents differ from ordinary documents?

Ordinary documents can be modified taking into account the specifics of the enterprise or filled out in any form. Unified forms cannot be changed. This is regulated by Federal Law No. 402-FZ “On Accounting” dated December 6, 2011, which came into force on January 1, 2013, and Government Decree No. dated July 8, 1996. The forms of primary documents are included in the “Album of unified forms of primary documents”, agreed upon by the Ministry of Finance and approved by the State Statistics Committee of the Russian Federation. The latest amendments to Law 402-FZ were made on May 23, 2016 on the basis of Federal Law No. 149-FZ. Changes have affected the activities of accounting departments of state organizations.

Correct accounting in an organization begins with studying regulatory documents

Sample of filling out the balance sheet

First of all, the statement must indicate the name of the enterprise for which it is being made. Next, enter the name of the document and the specific account for which it is drawn up. In this example, this is an account under code 60, which stands for “Settlements with contractors and suppliers.”

The algorithm for making entries in this sample balance sheet is not very complicated and is made in a certain order, based on the sequence of financial and economic actions performed.

EXAMPLE. Let's assume that the company transferred an advance payment in the amount of 100 thousand rubles to the counterparty. This operation was reflected in the document as an increase in receivable assets in the subaccount (line 60.1). Next, the counterparty provided the company with inventory in the amount of 150 thousand rubles. This operation is entered into the table as an increase in credit liability in subaccount 60.2. Then the enterprise pays the counterparty a partial cost of the goods and this is reflected in the statement as a decrease in liabilities by 100 thousand rubles in subaccounts 60.2 (in debit) and as a decrease in assets in subaccounts 60.1 (in credit). Thus, as a result, the enterprise owes the counterparty 50 thousand rubles during the period of drawing up the document, which is reflected in subaccounts 60.2 (on credit). Line 60 indicates the final total amounts.

Necessity

As already mentioned above, SALT allows you to analyze factors influencing the quantitative and qualitative changes in balance sheet items: thus, relying on this type of report and comparing the information received with other facts of economic activity, you can draw conclusions about the reasons for the change in financial results , and, after comparing all the facts, take the necessary measures.

Only indirectly the application of this document is predetermined by Federal Law No. 402 “On Accounting”. As a result, this regulatory act provides that:

Information recorded in primary documents is displayed in accounting registers, and then accumulated here.
For government organizations, the form of the document is approved by regulations, and for private organizations - by management.

Another significant factor that predetermines the use of a balance sheet by modern organizations is Order of the Ministry of Finance of the Russian Federation No. 119n, which approves instructions regarding the accounting of inventories of Russian enterprises. Several concepts are used :

A turnover sheet is a source that records the amounts of expenses and income, balances at the end and beginning of the reporting period, as well as the amounts in the accounts that correspond to them.
A balance sheet, in turn, is a document that corresponds to a circulating source, but at the same time it does not reflect the consumption and receipt of products in any way.

An example of a turnover sheet.

Rule of three equalities:

Opening balances on debit = opening balances on credit
Debit turnover = credit turnover
Closing balances on debit - closing balances on credit

The turnover sheet for synthetic accounts has the following form. And it contains a list of accounts, initial balances on them, turnover and balances at the end of the period.

The turnover sheet for analytical account 60 “Suppliers and contractors” looks like this and contains data on a specific account broken down by each supplier.

As we see, the totals of turnover in analytical accounts are not equal to each other, this is due to the fact that in synthetic accounts, if one account is debited, the other must be credited; in analytical accounts, an entry will be made either as a credit or as a debit of the account. Analytical statements allow you to identify discrepancies between synthetic and analytical accounting data.

Example:

As of January 1, the organization has account balances.

The following business transactions were carried out in January.

Let's draw up a turnover sheet for January.

Let's enter all the accounts involved and their names.
Let's enter the initial balances from the original data.
Next, we will fill in the data from the business transactions journal and enter them into the January turnover as credit and debit to the corresponding accounts.
To calculate the final balance, you need to: in active accounts add debit turnover to the balance and subtract credit turnover, in passive accounts vice versa. We add the loan turnover and subtract the debit turnover.
Let's calculate the results and compare their similarities.

How to make a chess sheet and what it is, read here.

Homework.

1. Try to compile a turnover sheet . Please provide account names.

Account balances available:

01 - 10,000 rub.
50 - 1500 rub.
66 - 1500 rub.
70 - 1000 rub.
80 - 10,000 rub.
10 - 1200 rub.
68 - 200 rub.

During the month, the following economic processes occurred in the enterprise. Reflect them in the journal of business transactions.

The employee received a salary of 1000 rubles from the cash register.
The amount of 500 rubles was issued from the cash register to Ivanov for reporting purposes.
Ivanov bought materials, timber, for the amount of 300 rubles.
Ivanov deposited the unused balance of 200 rubles into the cash register.

Write all questions in the comments, I will be happy to help you.

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Classification of turnover sheets

The turnover (turnover balance sheet) shows due to what amounts of debit and credit turnover on an account (or accounts, or certain analytics allocated in a specific account) for a certain period, the value of the final balance was formed from the amount of the initial balance.

That is, a document such as a turnover sheet can be created in three main versions:

SALT for the total set of synthetic accounts;
turnover statement for a separate synthetic account or for several synthetic accounts;
turnover sheet for a specific analytics allocated on a synthetic account, or for several such analytics.

Despite the availability of options, the structure of the turnover sheets will be the same. It will contain:

balance at the beginning of the period;
debit turnover;
loan turnover;
balance at the end of period.

It is more convenient to consider the algorithm for compiling the turnover sheet using the example of a separate synthetic account. Let this be account 71, which reflects transactions with accountable persons.

To learn about what other accounts can be used in accounting, read the article “Chart of Accounts for 2021 - 2021 (download).”

How to analyze OCB

Analysis of the balance sheet is quite simple: all items are indicated in the decoding of the codes. You just need to close all possible accounts as much as possible at the end of the analyzed period. For example, a large balance in account 10 “Materials” indicates an overstocking of raw materials (or accounting shortcomings). The balance is always assessed on an accrual basis.

Where to see the company's revenue

Receipt of revenue and write-off of the cost of products (works, services) are carried out in accounts 90.01 and 90.02. Companies on the general taxation system charge VAT on their products on account 90.03. And also management expenses are reflected in account 90.08. By analyzing these accounts, the company's profit before taxes can be determined.

VAT accounting procedure

It is important for any manager not to forget to monitor the turnover in accounts 50 and 51, which reflect the movement of cash and non-cash funds. A tax specialist should regularly monitor the balances of accounts 19 and 68, which account for tax calculations, in particular VAT.

To understand the balance sheet, a beginner should memorize the names of all accounting accounts

How to calculate profit and loss for SALT

To calculate profits and losses in the balance sheet, account 99 is provided, to which sub-accounts are opened that detail the calculations. The manager should remember that the debit balance on account 99 means the company’s final loss, and the credit balance means net profit.

There are many accounting programs that only require posting transactions. The correctness of accounting is tracked automatically, which is very convenient, especially for novice accountants. As a rule, these programs are linked to primary documents and contracts and are based on Excel. The most popular program is 1C.

If you keep records in the 1C program, then work becomes easy and interesting. Post transactions across accounts, and the program will create the balance for you. You just need to read it correctly, find random errors and correct them in a timely manner. In addition, there are a lot of additional features that are recommended to be used not only by accountants, but also by managers for maintaining management accounting.

Information on the availability and flow of funds at the organization’s cash desks is summarized on active account 50 “Cash Office” (Order of the Ministry of Finance dated October 31, 2000 No. 94n). At the same time, the Chart of Accounts and the Instructions for its application stipulate that account 50 takes into account not only cash, but also monetary documents. To differentiate between the values accounted for in account 50, the opening of sub-accounts is provided. So, for example, subaccounts 50-1 “Cash of the organization”, 50-2 “Operating cash”, 50-3 “Cash documents”, etc. can be created. How is the balance sheet for account 50 compiled and for what purpose is it used?

SALT for account 71: sample filling with postings

For our example, the fact of issuing funds to Ivanov and Petrov in the amount of 10,000 and 20,000 rubles, respectively, is first recorded. These transactions correspond to the following transactions:

Dt 71.01 Kt 50 - in the amount of 10,000 rubles;
Dt 71.01 Kt 50 - in the amount of 20,000 rubles.

Let's reflect them on the turnover sheet:

enter the amounts 10,000 and 20,000 rubles. in the “Debit” column opposite the corresponding analytical characteristics of the subaccount (these are the names of employees Ivanov and Petrov);
we add up the 2 available figures that form the debit of subaccount 71.01, and indicate in the turnover sheet the resulting total amount of 30,000 rubles. in the “Debit” column opposite this subaccount;
if no other operations were carried out on synthetic account 71 (let’s agree that this is the case), we duplicate the amount of 30,000 rubles. in the “Debit” column opposite account 71.

As soon as Ivanov and Petrov bring their advance reports and checks, we draw up the postings:

Dt 10 Kt 71.01 - in the amount of 9,000 rubles;
Dt 26 Kt 71.01 - in the amount of 19,000 rubles.

On the turnover sheet:

enter 9,000 and 19,000 rubles. in the “Credit” column opposite the employees’ names;
we add up the figures for credit transactions, and the resulting value is 28,000 rubles. We enter in the “Credit” column opposite the subaccount 71.01, as well as the main synthetic account 71.

If the opening balance is zero, then in order to determine the balance at the end of the period and indicate it in the turnover sheet, you need to subtract the smaller ones from the larger values indicated in the columns under the cell “Turnover at the end of the period”. If 1st is recorded in the Debit column and 2nd is recorded in the Credit column (as in our scenario), the results are recorded in the Debit column under the Ending Balance cell. In this case it consists of:

from 1,000 rub. according to Ivanov’s reports (enter this amount next to Ivanov’s last name);
1,000 rub. according to Petrov’s reports (we record opposite the name Petrov).

In turn, in the “Debit” column under the “Balance at the end of the period” cell opposite subaccount 71.01, the indicators of all analytical characteristics of the subaccount are summarized. That is, in our case, we will fix here the amount of 2,000 rubles. We duplicate this value in the “Debit” column under the “Balance at the end of the period” cell opposite the synthetic account 71.

Thus, based on the results of transactions, a debit balance for account 71 is recorded in the turnover sheet. Its total amount is 2,000 rubles.

A finished sample of the turnover sheet reflecting the above operations will look like this:

Account (sub-account) / Analytical characteristics of a sub-account

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