Advances or other payments received on account of the delivery of goods are, in this text, considered monetary funds that the suppliers received prior to the delivery of goods. It follows from this that the funds that the suppliers received on account of the forthcoming deliveries of goods are included in the taxable base of the period in which these funds were actually received.
Instructions
Step 1
When transferring an advance payment to the supplier, the buyer accepts the VAT advance for deduction. This deduction is made when an invoice is available.
Step 2
Also, to accept the deduction, a delivery contract is required, which specifies the conditions for the prepayment.
Step 3
After receiving and accepting the goods, the buyer deducts VAT. When receiving advances for the supply of products, resources, as well as when paying for products made in partial readiness, the amount in the documents for advances is reflected in the debit of cash accounts and credit of account 76 "Calculations on advances received".
Step 4
The amount of tax is reflected on the debit of account 76 and the credit of account 68. When sending products for the amount of VAT accounted for earlier, a reverse entry is first made. Then all the operations that are related to the implementation are reflected in the established order.
