In view of the differences in accounting and tax accounting for organizations, there are several ways to write off the cost of goods. Often accountants use all of them, depending on the situation.
Instructions
Step 1
For accounting purposes, the cost of goods can be written off in one of the following ways: FIFO, at the unit cost, at the average cost (clause 16 of PBU 5/01). For the purposes of tax accounting, the three above methods are used, and it is also possible to write off the cost using the LIFO method (subparagraph 3 of paragraph 1 of article 268 of the Tax Code of the Russian Federation). The method of writing off sold goods is established in the accounting policy of the organization (accounting and tax).
Step 2
The sales of goods in accounting should be reflected by the following entries: - debit 62 Credit 90/1 - sales proceeds (including VAT); - debit 90/3 Debit 68 "VAT" - VAT charged on proceeds.
Step 3
Write-off of the cost of goods sold when they are sold reflect the entries: Debit 90/2 Credit 41/1 or Debit 90/2 Credit 41/2.
Step 4
The method of writing off goods at the average cost is based on the assumption that goods are sold at the average cost, which can be calculated by dividing the actual cost of each type of goods by the number of goods of the same type. Evaluate the goods at the average cost for each type of inventory taking into account the figures at the beginning and end of each month. If the prices differ for each batch of goods, make the calculation of the arithmetic weighted average in order to determine the average cost of goods.
Step 5
The FIFO method (first batch in receipt - first batch in expense) is based on the assumption that goods are sold in the order in which they are received from suppliers. This means that first of all, the goods that arrived at the warehouse earlier are sold, and, therefore, the cost of all goods sold takes into account the cost of receipts earlier in time. The essence of the FIFO method is that when a product is disposed of, the product is first written off from the first incoming batch. After the complete write-off of the goods from the first batch, they begin to write off the goods from the second batch, etc.
Step 6
The LIFO method is absolutely opposite to the FIFO method, that is, the cost of goods sold is based on the price of the last batch of manufactured or purchased products.
Step 7
Use the simplest, but most time-consuming method of writing off the cost per unit cost - when, after the sale of each item, the transaction displays the cost price of this particular item. The last method is good for selling piece goods, and when selling large quantities of goods, accountants prefer to use the write-off method goods at their average cost.
