VAT is an indirect tax imposed on the value of goods, works and services. Since it is paid by end users, intermediaries have the right to deduct the amount charged at each stage. Such a netting system was created to avoid double taxation.
It is necessary
- - chart of accounts;
- - documents confirming the purpose and fact of purchase, the amount of input VAT.
Instructions
Step 1
First, determine the tax rate, which can be 0%, 10% and 18%. In the first case, it is intended for export, in the second - for vital products and children's things, in the third - for all other goods.
Step 2
Prepare the documents that will be required to complete the transaction. They must indicate: - the fact of the purchase of goods and the amount of input VAT (invoice); - transfer of material values (invoices); - payment (bank statement) Depending on the type and purpose of goods, in addition to the listed documents, others may be needed, for example, accounting statement-calculation, if it is expected to pay contributions to the Pension Fund.
Step 3
Reflect the fact of purchase using the following posting: Dt 41 CT 60. Account 41 is active, it is intended for accounting of goods, data on the amount of the purchase is entered on it. Since the values for which VAT is to be recalculated have entered the organization, they are debited. Account 60 "Settlements with suppliers and contractors" is active-passive, but in this case it is used as passive. Therefore, the amount paid to the seller must be recorded on the loan.
Step 4
Use the posting Dt 19 Kt 60 to reflect the VAT amount. Account 19 "VAT on acquired values" is intended to reflect the amount of tax on goods received. It is written on a separate line in the invoice and invoice.
Step 5
Write off the expenses for the purchase of tangibles using the correspondence Dt 91/02 CT 41. On the debit of the active-passive account 91/2 "Other expenses", you need to enter the amount spent on the purchase of goods, and on credit 41, respectively, the cost of goods.
Step 6
Calculate VAT using the transaction Dt 91/02 Kt 68/02. On the active-passive account 68/2, the calculations for taxes and fees are recorded.
Step 7
Submit VAT deductible. In this case, use the correspondence: Dt 68/02 Kt 19.
