The advance payment is one of the parts of the wages of any worker. In accordance with the Labor Code, an advance payment must be made at least twice a month. It can be issued in different amounts stipulated by the employment contract. This can be either half of the salary or a certain percentage of it.
Instructions
Step 1
Remember that when an advance payment is established at an enterprise or organization, cash payments are calculated and paid twice a month. In addition to the wages of workers, an advance can be paid for the provision of services or the provision of any goods for the enterprise.
Step 2
When calculating the advance and reflecting it in the documentation, you need to know and remember that the amount of the advance should in no time exceed half of the employee's tariff rate, that is, half of his salary, and in the case of payment for services, the amount of the advance is negotiated individually and is distributed accordingly according to the documentation.
Step 3
Each accountant must correctly and competently reflect all advances for the reporting period in the relevant documentation. This must be done in a timely manner, since otherwise, during the audit, certain sanctions may be imposed on the concealment of such actions.
Step 4
In order to correctly reflect advances, it is necessary to perform a number of the following actions. Open "Calculations on advances issued" (separate subaccount) to account 60. Reflect the issued advance Debit 60, the specified subaccount "Calculations on advances issued" Credit 50 (51, 52, 53, 54 …).
Step 5
Indicate whether an advance has been made to the contractor (supplier). Reflect on line 230 or 240 of the balance sheet all advances issued that remained outstanding at the end of the reporting period.
Step 6
Make the following entries in the accounting records if the advance payment was made upon the provision of services or acceptance of the work performed. Select Debit 08 (10, 20, 26, 41 …) Credit 60.
Step 7
Indicate whether material assets are capitalized, in payment for which an advance was transferred a little earlier.
Find and select Debit 19 Credit 60.
Step 8
Please indicate the amount of VAT included on the basis of the invoice provided by the supplier (contractor). Select Debit 60 Credit 60 by selecting the subaccount "Calculations on advances issued". Indicate that the advance has been credited.
