Some companies in the course of their business use this type of financial investment, such as the provision of loans to other organizations. By receiving interest, they have income. Each company has the right to give loans to legal entities, while concluding an agreement. It is very important to correctly reflect these transactions in accounting and tax accounting.
Instructions
Step 1
First, it should be noted that the loan agreement is considered fulfilled only after the funds are transferred to the borrower's account. It is necessary to prescribe in this document such conditions as interest rate, repayment period, loan amount and others.
Step 2
All amounts issued under loan agreements, reflect on the debit of account 58 "Financial investments" subaccount "Loans granted". This account should go in correspondence with the account from which the amount was debited, if it is a current account, then select account 51, and if the transactions were made through the organization's cash desk, then 50. Make this entry once, that is, when granting a loan …
Step 3
Further, as you use the loan, the borrower must pay you interest. As a rule, their amount and terms of payment are indicated in the agreement or in the interest payment schedule. To reflect such transactions, make the following entries: E58 "Financial investments" subaccount "Granted loans" K91 "Other income and expenses" subaccount "Other income" - the amount of interest has been accrued under the loan agreement; E51 "Current account" or 50 "Cashier" K58 "Financial investments" subaccount "Provided loans" - interest received under the loan agreement to the current account.
Step 4
When the loan amount is returned to you, then you must reflect this as follows: D51 "Current account" or 50 "Cashier" K58 "Financial investments" subaccount "Provided loans".
Step 5
All income earned in the form of interest is taxed and recognized in the tax period in which it is received.
