A bill of exchange is a type of debt obligation, which is drawn up in a strict form and allows an indisputable opportunity to claim the amount specified in the document at the end of the maturity date. Bills differ in types and forms. It depends on the definition of the type of document how it will be conducted in the accounting department of the enterprise.
Instructions
Step 1
Reflect the trade bill transaction in accounting on separate subaccounts to settlement accounts. As a rule, these documents are issued in an amount that is significantly more than the payable of the drawer. The difference between these values is called the discount and is the compensation to the supplier for the delay in payment. It must be attributed to the income of the drawer and the costs of the drawer.
Step 2
Carry out in accounting the transfer of the bill for the credit of account 60 "Settlements with contractors and suppliers" and the debit of account 91.2 "Other expenses" if you are the drawer. The holder of the bill, in turn, opens a loan on account 62 "Settlements with customers and buyers" and a debit on account 91.1 "Other income".
Step 3
Organize in both cases off-balance accounting of promissory notes, which will be reflected in account 009 "Security for payments and obligations issued by the promissor", and in account 008 "Security for payments and obligations received" for the holder of promissory notes.
Step 4
Consider bills of exchange as well as settlements on loans and borrowings. This provision is established by clause 3, clause 8 and clause 9 of PBU 19/02, which refer transactions with securities, including promissory notes, to the company's financial investments. The latter should be carried out in accounting at initial cost, which is determined as the actual cost of purchasing the bill. The drawer must reflect the transfer of the bill by opening a loan on account 66 "Settlements for short-term loans and credits" or account 67, if the obligation is long-term, in correspondence with the debit of account 76 "Settlements with different creditors and debtors." In this case, the discount amount is posted on the credit of account 76 and the debit of account 91.
Step 5
Pay off the bill by opening a loan on account 51 "Current accounts" and a debit on account 66, 67 or 60.
