In the course of the organization's economic activities, various transactions take place, including the purchase and sale of goods, materials, etc. But there are also situations when the buyer for some reason returns the product, and the seller is obliged to take it back. As a rule, this needs to be reflected in accounting.
Instructions
Step 1
Any transactions should be reflected in the accounting on the basis of the relevant documents. For example, if a defective product is returned, you must draw up an invoice according to the form No. TORG-12, and you must make a note that this batch is exactly a return. Also, attach an act to the invoice (form No. TORG-2), in the event that the goods are imported, draw up an act in the form No. TORG-3.
Step 2
If you have already accepted the goods, that is, registered an invoice in the purchase book, accepted VAT deduction, do the reverse implementation. But this must be done in the tax period in which the transaction was carried out.
Step 3
In accounting, reflect this transaction as follows:
D41 "Goods" K60 "Settlements with suppliers and customers" - the receipt of goods is capitalized;
D19 "VAT on purchased values" К60 "Settlements with suppliers and customers" - the input VAT is reflected;
D68 "Calculations of taxes and fees" subaccount "VAT" K19 "VAT on acquired values" - VAT accepted for deduction;
D41 "Goods" K60 "Settlements with suppliers and customers" - corrected the posting of goods;
D19 "VAT on purchased values" К60 "Settlements with suppliers and customers" - input VAT has been adjusted;
D68 "Calculations of taxes and fees" subaccount "VAT" K19 "VAT on acquired values" - VAT deduction has been adjusted.
Step 4
Well, what if the returned product is of high quality? For example, you have entered into a contract with a supplier. One of its conditions is as follows: "If the goods are not sold by a certain date, then the buyer has the right to return it to the supplier." You must issue an invoice and invoice to the supplier.
Step 5
In accounting, make the following entries:
D62 "Settlements with buyers and customers" K90 "Sales" - the goods were returned;
D90 "Sales" K68 "Calculations of taxes and fees" subaccount "VAT" - the amount of VAT from the sale is taken into account;
D90 "Sales" K41 "Product" - the cost of the returned item has been written off.
