Account 99, according to this chart of accounts, means "Profit and loss". Its purpose is to record and display all the results of the organization's financial activities. The term is taken - the current reporting period. Account 99 allows you to get acquainted with all the financial information on the working operations of the company.
Purpose and essence of 99 accounts
Each enterprise has the most important and most important goal of its activity - a systematic increase in profits. The financial result of the workflow can be estimated only by summing up the income of each direction of the organization. This is an important point, since it is only on the basis of this information that it is worth making a decision on investing. Acting at random is fraught with severe risks and unpleasant consequences. Therefore, it is so important to track information about cash costs and receipts. Such reporting is available on account 99.
Throughout the entire working year, data on the profit and loss of the organization is stored on this account. Transactions are taken into account not only in the main type of activity of the company, but also in all other areas. At the very end of the working year, a report is generated where credit and debit data are compared. 99, the account is eventually closed by writing off the remaining funds on account 84.
By itself, account 99 is considered active-passive. On his debit, you can see the loss received as a result of financial transactions, and profit is reflected on the loan. All the basic characteristics of 99 accounts can be viewed in the Chart of accounts of accounting, which was established by order of the Ministry of Finance under number 94n of 2000-31-10.
According to the aforementioned order, throughout the entire working year, on account 99, information on the following aspects of the organization's activities is accumulated and stored:
1. Increase and decrease of income from the main activity of the organization. This can be seen on the wiring Dt90 Kt99.
2. The balance of all other income and expenses incurred during the reporting period. Posting Dt91 Kt99.
3. The impact of unexpected and unplanned situations on the economic activities of the company. We are talking about all kinds of force majeure, industrial accidents, etc.
4. Amounts intended for calculating tax payments. Both fixed income tax liabilities and penalties and other charges are taken into account. Posting Dt68 Kt99.
If the organization is engaged in agriculture, then, according to the aforementioned Chart of Accounts, when comparing debit and credit turnovers on account 99, there are also such financial results as:
1. Force majeure associated with sudden natural disasters, fire, etc. In this case, the transactions are selected on which the corresponding expenses are marked.
2. Based on the first point, it is possible to receive income in case of unplanned situations that have arisen. For example, insurance claims related to compensation for damage caused by natural disasters. It is also possible income from the sale of materials obtained during the dismantling of buildings and structures unusable for use.
Basic wiring
According to the order of the Ministry of Finance No. 94n, the following correspondence from account 99 can be distinguished:
Dt 99 Kt 01, 03, 07, 08, 10, 11, 16, 19, 20, 21, 23, 25, 26, 28, 29, 41, 43–45, 50–52, 58, 68–71, 73, 76, 79, 84, 90, 91, 97.
Dt 10, 50-52, 55, 60, 73, 76, 79, 84, 90, 91, 94, 96 CT 99.
Debit reflects expenses, credit - income. Comparison of turnovers for the required reporting period allows you to see the final financial result and understand whether the company's activities are profitable.
Debit 99 - penalties
Account 99 allows you to see all the tax debts accrued to the organization, as well as the write-offs of the necessary amounts to pay off the debts issued. Moreover, it should be borne in mind that when transferring fines to the state budget, the wiring Dt68 Kt51 is used. And when calculating tax sanctions - Dt99 Kt68.
It is necessary to distinguish between fines and penalties, since these are completely different concepts, and information on them is reflected in different accounts. The penalty is charged immediately when one or more reasons appear (not submitted on time accounting report, unpaid tax or insurance premium, deliberate reduction of tax liability). Its size is strictly defined by law. Penalty is called a penalty payment charged for every day of delayed payment. The percentage is 1/300 to the refinancing rate of the Central Bank of the Russian Federation.
99, the account shows only fines, but not penalties, which is regulated by Article 114 of the Tax Code of the Russian Federation. Penalties can be viewed on the wiring Dt91.2 Kt68.
