Even experienced professionals can make mistakes in accounting. In this case, the regulations provide for a special algorithm for correcting inaccuracies made, depending on the circumstances in which this happened.
It is necessary
- - completed tax return;
- - documents on the operations performed;
- - accounting information.
Instructions
Step 1
Perform a reverse posting to correct an earlier posting that overstated the required amount. In case of understating the amount of money, issue an additional charge. At the same time, prepare documentation confirming the operations performed or an accounting statement containing the justification for the corrections.
Step 2
Make corrections in the current reporting period if an error is discovered before its end. If an inaccuracy is found in the new period and before the approval of the statements, corrections must be made before its end, that is, before December 31. If the reporting has already been approved, it is prohibited to correct it.
Step 3
Submit your tax return for the previous period, in which the mistake was made, again if you found it after the statements for the current period were approved. In this case, corrections are made only to tax accounting. Refer the unaccounted amount to account 91-2 as "Other expenses", and then write off to the current account "Profits and losses" under number 99.
Step 4
If the amount of profit or loss from previous years is found, it should be recognized as income or expense in the “other” category. For expenditures from previous years, post to Debit account 91-2 and Credit 02 (76, 60). Debit 62 (02, 76) and Credit 91-1 are used when posting to income of previous years.
Step 5
An error made in the already filed reporting documents of the joint-stock company must be reported to the tax office without fail. This will help avoid serious government sanctions, and you will avoid being prosecuted. Usually, an organization that did not specifically make a mistake in the form of a distortion of the reporting amount within 10 percent and reported this to the tax authority is imposed an administrative penalty in the form of a fine.
