In case of non-fulfillment or partial non-fulfillment of its obligations, the company has accounts payable. Depending on the nature of the debt, these values are recorded on different accounts in accounting and are reflected in the total amount in line 620 "Accounts payable" of section 5 of the balance sheet.
Instructions
Step 1
Consider all settlements with suppliers and contractors on account 60 or 76. In this case, all debt obligations (acceptance of invoices for payment, receipt of goods, material values and other property, VAT reflection, etc.) must be reflected on the credit of this account. In case of payment for a product, service or work, take into account the transferred amount on the credit of account 51 "Current account" and the debit of account 60 or 76. Accounts payable is formed if there are balances on account 60 or 76 on the reporting date.
Step 2
Reflect the accrual of wages to employees of the enterprise on the credit of account 70. The transfer of funds to the employee's card or the withdrawal of cash from the cash desk is reflected in the debit of this account in correspondence with account 50 or 51. If at the end of the reporting period there are balances on account 70, they are recognized as part of accounts payable.
Step 3
Receive upfront payments from buyers or customers for the item you purchase. Until the transfer of the goods, these amounts are recorded on the credit of account 62 "Settlements with buyers and customers" as part of accounts payable.
Step 4
Analyze the balances on other accounts of the enterprise, which may be due to payables. These include: account 68 "Settlements for taxes and fees", account 66 and 67 "Settlements for loans and borrowings", account 71 "Settlements with accountable persons", account 69 "Settlements for social insurance", account 73 "Settlements with personnel" etc.
Step 5
Determine the amount of the accounts payable of the enterprise, formed at the reporting date, and reflect it in line 620 of section 5 "Short-term liabilities" of the balance sheet. At the same time, in lines 621-625, a decoding of the debt is given. In line 621 the debt to suppliers and contractors is indicated, in line 622 - the credit balance of wages, in line 623 - the balances of contributions to extra-budgetary funds, in line 624 - tax arrears, in line 625 - other debts of the enterprise.
