The system of accounts of accounting serves for accounting, collection, processing and storage of all necessary information, as well as for control, planning, regulation and management of the organization's accounting. For uniformity of the content of the forms of accounting information, a clear list and specific characteristics of each account are used.
Instructions
Step 1
Remember that all accounting accounts are classified as active and passive. Active accounts are accounts that account for various types of property and other funds, their movement and composition. These are the accounting objects in which the organization's funds are invested. The passive accounts reflect the sources of formation of property (capital), their presence and movement, as well as the obligations of the organization. Passive accounts include, for example, account 80 "Authorized capital", account 66 "Settlements for short-term loans and borrowings", etc.
Step 2
Do not forget that passive accounts are necessary to form the liabilities of the balance, in connection with which they have some peculiarities: - the balance on passive accounts is only credit. This is due to the fact that in the balance sheet liabilities and sources of funds are shown on the right side - in passive accounts, an increase in the source of funds is reflected in credit, and a decrease in debit, as opposed to active accounts.
Step 3
So, to form the final balance on the passive account, reflect the initial balance of the sources of property. It is formed on a loan. Then indicate on the accounts all the business transactions that cause the opening balance to change. Amounts that increase the opening balance are recorded as credit, and amounts that decrease the initial balance are recorded as debit.
Step 4
Then add up all the business transactions for debit and credit. The result will be a debit and credit turnover on the account. Note that the opening balance is not taken into account when summing up the turnovers.
Step 5
After the turnovers on debit and credit have been calculated, proceed to the formation of the final balance (balance) of the accounts. To determine the balance of the passive account, the following formula is used: Ck = Cn + O (k) - O (d), where Ck is the final balance of the passive account, S is the initial balance of the passive account, O (k) is the loan turnover, O (e) - debit turnover.
Step 6
Thus, the passive credit account reflects balances at the beginning and end of the reporting period and business transactions that cause an increase in balances. The debit of the passive account reflects only business transactions that cause a decrease in balances.
