In the course of business, some organizations use the so-called lease agreement. It provides for the lease of property by the lessee with its subsequent acquisition. According to the agreement, payments are made to the lessor on a monthly basis, which must be reflected in the accounting records. Also, the lessee must reflect the payment under the finance lease.
Instructions
Step 1
First, it should be said that the amount of lease payments must be spelled out in the financial lease agreement. It is necessary to reflect the payment of the amount in accounting only on the basis of supporting documents - an extract from a current account, a payment order, an order.
Step 2
If you are a lessee, and the leased fixed asset is on the balance sheet of the owner, then the amount paid under the finance lease agreement should be reflected by entries:
Debit 20 "Main production", 23 "Auxiliary production", 29 "Service production" and Credit 60 "Settlements with suppliers" or 76 "Settlements with debtors" - payment is charged under a lease agreement;
Debit 19 "VAT on purchased valuables" and Credit 60 "Settlements with suppliers" or 76 "Settlements with debtors" - reflects value added tax on lease payments;
Debit 68 "Calculations of taxes and fees" subaccount "Value added tax" and Credit account 19 "VAT on acquired values" - presented for deduction of VAT on a monthly payment under a lease agreement;
Debit 60 "Settlements with suppliers" or 76 "Settlements with debtors" and Credit 51 "Settlement account" - reflects the payment under the finance lease agreement.
Step 3
If the fixed asset transferred under the concluded agreement is on the balance sheet with you (the lessee), make the following entries in the accounting:
Debit 60 "Settlements with suppliers" or 76 "Settlements with debtors" and Credit 02 "Depreciation of fixed assets" subaccount "Leasing property" - reflected the accrued depreciation on the item of fixed assets received under the concluded agreement;
Debit 20 "Main production", 25 "General production costs" or 91 "Other incomes and expenses" subaccount "Other expenses" and others and Credit 60 "Settlements with suppliers" or 76 "Settlements with debtors" - payment was charged under a lease agreement;
Debit 60 "Settlements with suppliers" or 76 "Settlements with debtors" and Credit 51 "Settlement account" - reflects the payment under the lease agreement.
