Being an experienced accountant can make mistakes. You could incorrectly reflect this or that business transaction, calculate the tax base with an error. Accounting flaws and negative consequences can be minimized. The order in which fixes are reflected depends on the timing of the error and its nature.
Instructions
Step 1
If you made a wrong posting, accrued the exceeded amounts, then make a reversal posting. If, when charging, the amount turned out to be underestimated, then issue an additional charge. Corrections should be accompanied by supporting documents: primary documentation that was not posted in the reporting period when the error was made, or an accounting statement justifying the corrections.
Step 2
If you discovered a mistake before the end of the year in which you made it, then make corrective entries in the reporting period when you found it. If you find an error at the end of the year, but even before the statements are approved, then make a correction note on December 31, while the statements have not yet been approved.
If you find an error after the approval of the statements, then correct it in the non-submitted reporting period in which you found it. Remember that in any case, you cannot adjust the approved accounts. It is forbidden to correct the data of the oldest periods, therefore there is no need to submit corrected reports.
Step 3
If you have identified the amount of profit or loss of previous years, then reflect them in the income or expense category "other". For the income of previous years, issue a posting through Debit 62 (76, 02) Credit 91-1. For the expenses of previous years, post the entry through Debit 91-2 Credit 02 (60, 76.).
Step 4
If you find an error in the published statements of the JSC, while it is significant, can distort the financial result, then report it in the news feed, you can on your website page.
Step 5
Any mistake you make in the accounting statements may result in administrative liability. A gross violation of the rules in the procedure for presenting financial statements begins when one line of the financial statements is distorted within 10 percent.
Step 6
If you need to reflect in accounting the unreported expense for the past year, which you identified after you submitted the annual financial statements, while your organization is on PBU 18/02, then a number of contradictions arise. After all, you need to make an adjustment in two periods. Over the past year, the organization has the right to make corrections only in tax accounting. Submit an updated return for the period in which you made a mistake. Recognize this amount on account 91-2, category "Other expenses", write off to the current account 99, category "Profits and losses".
