When forming the cost of production and closing the accounting period, it is necessary to calculate and write off the cost of work in progress. Its volume is calculated according to the results of the inventory or by the documentary method, when the assessment of the balances is made on the basis of primary documents.
Instructions
Step 1
Determine the volume of work in progress based on the results of the inventory carried out at the end of the month. Record the results in the inventory list.
Step 2
Calculate the share of work in progress in its total volume for the accounting period. To do this, add the cost of work performed to the cost of work in progress at the beginning of the month. Divide the cost of outstanding work at the end of the month by the number received.
Step 3
Allocate the amount of direct costs between completed orders and work in progress in proportion to the calculated share of work in progress in the total volume of work. To do this, add the total amount of actual direct costs according to accounting data to the remainder of the actual amount of direct costs at the beginning of the month (turnovers on the debit of account 20 "Main production") and multiply them by the share of work in progress at the end of the month.
Step 4
When determining the composition of costs that reduce taxable profit, do not include costs related to work in progress. Their value will be on the balances of account 20 "Main production" (account 23 "Auxiliary production", 29 "Serving production").
Step 5
Reflect the work in progress on account 46 "Completed milestones for work in progress", if your organization takes into account the costs of individual stages of work performed.
Step 6
Make a posting entry in accounting when the customer pays for each completed stage of work: Debit account 46, Credit account 90 "Sales". After the object is handed over, issue a posting to write off the work in progress: Debit of account 62 "Settlements with buyers and customers", Credit of account 46 "Completed stages of work in progress".
