The turnover sheet is an accounting register in the form of an auxiliary table, which is used to summarize the totals, as well as control over them for all the necessary accounting accounts. According to synthetic accounts, it can be simple or chess. A feature of the turnover sheet is the equality of credit and debit totals.
Instructions
Step 1
The turnover sheet is always drawn up at the very end of the month, and is based on the data of the accounts on the balances at the beginning and end of the month, as well as on the turnover for the month.
Step 2
In this case, the turnover sheet can be compiled for the accounts of analytical, as well as synthetic accounting (summarize all data of synthetic accounts from the General Ledger).
Step 3
As a rule, account names and three main pairs of columns should be included in any traditional form of the turnover sheet:
- opening balance for each account;
- the final balance also for each specific account;
- turnover for the reporting period.
Step 4
With the correct conduct of accounting at the enterprise, the total values of all pairs of columns should be equal to each other in each column.
Step 5
The equality of the total values of the opening debit and credit balance of all synthetic accounts can be explained by the fact that all the necessary data is transferred only from the opening balance. And the equality of the final calculations for each of the credit and debit overview accounts is due to the essence of the double entry, which shows that each business transaction is reflected twice: for debit and credit in several accounts, in an equal amount. In turn, the equality of the final balance totals is calculated from both previous equalities. At the same time, the equality of all totals in the turnover sheet in pairs has a huge control value.
Step 6
The available data of the turnover sheet for balances in synthetic accounts is used mainly in compiling the balance sheet.
Step 7
The totals in the circulating sheet, compiled in the context of analytical accounts (or codes of analytical accounting, subaccounts), must be verified with the given values of the corresponding synthetic accounts. In this case, the sum of all the totals of the debit and credit balances of the analytical accounts, as a rule, should be equal to the specified balance of the analytical account. And the sums of credit and debit turnovers on synthetic and analytical accounts should be equal to each other.
