To ensure the stability of economic development, enterprises create a reserve fund that can be spent on specific needs of the company. The availability of capital allows you to plan activities with confidence, since you can take into account unplanned costs and unforeseen situations. The formation of the reserve fund is established by law, therefore, certain rules must be followed.
Instructions
Step 1
Define the objectives of the reserve fund. The legislation provides for the compulsory formation of a reserve to cover losses, redemption of company shares or redemption of bonds. However, the company has the right to use these funds to pay off wage arrears, ensure dividend payments, settlements with personnel, pay off accounts payable, increase the authorized capital, general business needs and other costs.
Step 2
Include in the charter of the business the objectives for which the reserve fund can be spent. Determine the minimum size of the fund and the amount of annual deductions for its replenishment. It is legally determined that the replenishment should not be less than 5% of the company's net profit received in the reporting year.
Step 3
Hold an annual meeting of the founders of the enterprise, at which a decision is made to adjust the amount of deductions to the reserve fund and determine the need for its expenditure. Draw up and certify the minutes of the meeting of the founders. Issue an order for replenishment of the fund or its appointment.
Step 4
Reflect in accounting the net profit on the credit of account 84 "Retained earnings" and the debit of account 99 "Profits and losses". Transfer the funds to the reserve fund by opening a loan on account 82 "Reserve capital" in correspondence with account 84. If the company suffered a loss based on the results of the reporting year, then it must be covered by means of the reserve fund. In this case, a debit is opened on account 82 and a credit on account 84 "Uncovered loss".
Step 5
To redeem bonds, funds are transferred from the debit of account 82 to the credit of account 66 or 67 "Settlements on loans and borrowings". To pay off wage arrears, the reserve fund is transferred to the credit of account 70 "Payments for labor". When increasing the authorized capital, the credit of account 80 "Authorized capital" is used, a corresponding order is issued for the enterprise and the changes are registered in the tax authority and statutory documents.
