The accounting records reflect the fines recognized by the company. Administrative fines can be imposed on an organization for violations of business rules. Tax sanctions arise from errors in accounting and tax calculation.
Instructions
Step 1
A claim for payment of an administrative fine is sent by mail or delivered by courier service to the address of the enterprise. Failure to pay the fine before the deadline set in the requirement threatens the opening of a performing production.
Step 2
Payment of the administrative fine is reflected in the accounting records by entering a bank document into the database to write off the amount of the fine from the company's current account. This business transaction is described by the accounting entry from the credit of account 51 "Current account" to the debit of account 91.2 "Other expenses", subconto "Penalties".
Step 3
If the company identifies those responsible for imposing a fine on the organization, the fine may be levied on employees. This decision is formalized by order. Collecting from employees can be made only after receiving a written commitment from employees to pay off the debt.
Step 4
A fine at the expense of employees is drawn up in several accounting entries:
- Debit of account 73 "Settlements with personnel" - Credit of account 51 "Current account";
- The debit of account 70 "Payroll accounting" - Account 73 credit "Payments with staff."
Step 5
Penalties for taxes can be imposed on the company based on the results of the tax inspection, or the company can independently detect errors in calculations with the budget and pay the missing amount of tax. In addition to the tax itself, the company must pay late fees for tax payments.
Step 6
A tax payment write-off from the current account is accompanied by the following posting:
The debit of account 68 "Settlements with the budget" - Credit of account 51 "Current account".
Account 68 is analytical. You should choose the analyst on which the calculations of the tax paid are carried out. Penalties for tax can be recorded on analysts of the next level or together with tax, but penalties are paid in a separate payment order and are reflected in the accounting by a separate entry.
Step 7
The accrual of penalties for tax payments is expressed by the accounting entry:
The debit of account 91.2 "Other expenses" - Credit of account 68 "Settlements with the budget".
Account 91.2 subconto "Penalties". In account 68, select the analytics that is appropriate for the specific tax.
