Each organization has fixed assets on its balance sheet. They are tangible assets that are repeatedly involved in the production process. The term of use of fixed assets exceeds 1 year. They transfer their value to manufactured goods gradually in the form of depreciation. Fixed assets can be written off both in the event of their complete physical or moral depreciation, and in the event of incomplete depreciation, as well as in the event of natural disasters or emergencies.
Instructions
Step 1
The main document confirming the write-off of fixed assets is an act for the write-off of fixed assets (form No. OS-4). It is drawn up in duplicate. The first copy is transferred to the accounting department, where further accounting will take place on its basis, the second - to the person with whom a liability agreement has been concluded. Based on the write-off certificate, a note is made in the inventory card in the accounting department about the write-off of the liquidated object.
Step 2
When writing off incompletely amortized fixed assets, the write-off act will be the main supporting document, since the non-amortized (residual) value of the property will be reflected as taxable profit of the organization. Income and expenses from the write-off of fixed assets are charged to the accounts of non-operating income and expenses in the period in which they were received.
Step 3
In accounting, when writing off fixed assets on which depreciation was charged, the following entries are made: * Debit 01 subaccount “Disposal of fixed assets - Credit 01“Fixed assets - the initial cost of the object being written off is taken into account;
* Debit 02 - Credit 01 subaccount “Retirement of fixed assets - the amount of accrued depreciation is written off;
* Debit 91 subaccount 2 "Other expenses - Credit 01 subaccount" Disposal of fixed assets - the residual value of the material object is written off;
* Debit 91 subaccount 2 Other expenses - Credit 70 (68, 69) - reflects the costs associated with the liquidation of an item of fixed assets.
Step 4
If, after writing off the property, there are spare parts, parts that can be used in the future, or spare parts that are not suitable for use in the future, but can be sold as scrap, then the posting is made: Debit 10 -Credit 91 subaccount 1 “Other income. These material assets are reflected in accounting at market value.
Step 5
Income and expenses from the write-off of fixed assets are charged to the accounts of non-operating income and expenses in the period in which they were received. Non-operating expenses that reduce taxable profit, in this case, include expenses related to dismantling equipment, disassembly, removal of property, as well as depreciation amounts that have not been accrued. These costs must be supported by sound documentation.
Step 6
The cost of materials, spare parts obtained in the process of disassembling the property acts as non-operating income when writing off fixed assets. They are not included in taxable income.
