Before drawing up the annual accounting, the chief accountant of the enterprise must carry out a balance sheet reform. The reformation is carried out on December 31, after the last business transaction of the company. It consists of closing a loss or profit account for the past fiscal year, allowing the firm to start the next fiscal year from scratch.
It is necessary
- - calculator;
- - a computer.
Instructions
Step 1
Close all sub-accounts that are open on account 90 "Sales" of the accounting statements. These sub-accounts include 90-1, 90-2, 90-3, 90-4, 90-9. Post the credit closing for subaccount 90-1 at the end of the fiscal year using the posting "Debit 90-1 Credit 90-9".
Step 2
Post the debit closing for subaccount 90-2 through the posting "Debit 90-9 Credit 90-2". For subaccounts 90-3 and 90-4, a similar posting is made to close the debit balance. The postings made will lead to the equality of credit and debit turnovers for the listed sub-accounts. Therefore, the balance for account 90 on January 1 of the new fiscal year will be zero.
Step 3
Close sub-accounts 91-1, 91-2 and 91-9, which remained open at the end of the year on account 91 "Other income and expenses". Closing of subaccount 91-1 at the end of the year is carried out using the posting "Debit 91-1 Credit 91-9". Closing subaccount 91-2 at the end of the year is carried out using the posting "Debit 91-9 Credit 91-2".
Step 4
Write off the financial result. On a monthly basis, the chief accountant compares the turnovers on accounts 90 and 91. The result is recorded in account 99 “Profits and losses”. It forms profit and loss from ordinary activities, as well as profit and loss from other activities. Keep account 99 also for extraordinary expenses and income.
Step 5
Record in account 99 the accruals of income tax and penalties for tax violations. According to the results of the year, a debit (loss) or credit (profit) balance is formed on account 99. You must write off this balance with the last record of the last fiscal year. If the company is in profit, then the posting "Debit 99 Credit 84" is made, which will write off the net profit of the previous fiscal year. If the entity incurs a loss, the entry “Debit 84 Credit 99” is made, which reflects the net loss of the previous fiscal year.
