Accounting 76 account: balance, credit, debit, entries

All financial transactions are reflected in the accounts. In this publication we will talk about what is intended for the account 76 "Settlements with different creditors and debtors", to which categories it is divided. The article will give examples that help to better understand the topic under consideration.

Purpose of the account 76

76 the account is the calculated active-passive. It is necessary in order to generalize information on financial transactions with debtors and creditors not accounted for in accounts 60-75 :

• Property insurance ;
• Claims;
• Funds withheld from the salary of employees for third parties under the order of courts or executive acts.

In the new chart of accounts, the functions of the account in question, through which the main financial flow is carried out, have significantly expanded. In this regard, it became appropriate to open different categories, intended for certain types of calculation.

Account 76: sub-accounts 1 and 2

Since the money transactions can be different, the account for settlements with creditors and debtors is divided into several categories. The first (76.1) includes insurance of property and personnel, except for payments for medical and social insurance.

The transfer of the monetary sums of the organization is reflected in the debit, and the write-off of the funds is in the credit. For example, D76 K73 - insurance compensation due to an employee of the organization under the contract. Д51 К76 - receipt by the organization of money resources according to statutory acts. D99 K76 - cancellation of uncompensated insurance indemnities or damage from a force majeure event.

Sub-account 76.2 reflects the settlement of claims that may be brought:

• To suppliers, transport agencies and contractors on the found discrepancies in prices, if there are computational errors after the accounts are made, and when there is a shortage of cargo (D76 K60);
• To organizations for violation of quality standards, non-conformity of technical specifications (D76 K60);
• To credit institutions for erroneously written off or transferred amounts on the accounts of the organization;
• For downtime or marriage arising from suppliers, contractors (correspondence with the third section of the chart of accounts);
• Fines and penalties for non-compliance with obligations in the contract (correspondence with a score of 91).

The credit of subaccount 76.2 reflects the received payments. If it turns out that the funds are not recoverable, they are debited.

Account 76: sub-accounts 3 and 4

Paragraph 76.3 controls the dividends due to the firm and other types of income that do not contradict the partnership agreement. D76 K91 - profit to be received (distribution). Д51 К76 - the means received by the organization from debtors.

The fourth sub-account is designed to take into account the amounts accrued to the employees of the enterprise, but not paid in a certain period due to the failure of the recipients to appear. In such cases, the following wiring is performed: D70 K76. When a worker receives money, the account is debited to account 76.

Application of subaccount 76/3 in practice

The company LLC "Oasis" has a debt receivable of 1,350,000 rubles. On account 62 "Settlements with customers and customers". For certain reasons, before the maturity, she transferred for 750,000 rubles. Its rights to the company "Iceberg", which was able to collect in the account of the debt owed 900 000 rubles. In this situation, several questions arise:

1. A receivable is a purchase of a property or a financial investment in an asset?
2. The buyer's asset is 1,350,000 rubles. Or 750 000 rubles?
3. Is the debt of debtors considered income in this case, and 750,000 rubles. - the expense of the company OOO Iceberg?

In such a situation, LLC "Oasis" should be executed, from a legal point of view, the following postings:

Debit 91.2 Credit 62 1,350,000 rubles. - cancellation of the right of claim from buyers.

Debit 51 Credit 91.1 750 000 rub. - received compensation.

Such operations allow you to fix on the accounts "Other income and expenses" loss of the enterprise "Oasis", arising from the assignment of the right of claim. Accountants of the Iceberg company must execute a record on the debit of account 76.3 in order to fix the debts from counterparties. The difference between the rights received and the costs for them is shown in the credit of accounts 98/1, 83 or 90/1.

Even partial collection of payment leads to mutual agreement of both parties and complete repayment of debts. The unpaid part is reflected in the debit of 51 accounts, and the debited part is reflected to 98.1. In this example, we get:

Debit 51,900,000 rubles.

Debit 98.1 765 000 rubles.

Account credit 76 1 350 000 rub.

The company "Iceberg" has spent 750 000 rubles. For the acquisition of rights and returned 900,000 rubles, that is, the profit is 150,000 rubles. The posting is as follows:

Debit 98.1 Credit 91.1 150 000 rub.

The real size of the profit from the transaction is reflected in the account 98/1, intended for fixing the incomes of future periods.

Subaccount 76.АВ "Value-added tax on advances and payments"

Summarize the information on calculations for the payment of VAT from pre-payment allows account 76.A.V. Accounting is maintained with those customers and customers, from whom the money was received in advance for the planned shipment of goods or for the provision of various types of services.

Business transactions can be different. For example: Д68.02 К76.АВ - the account of the tax to the added cost on the payment received from the client beforehand. Д 76.АВ К68.02 - accrual of VAT on funds previously received from customers. Account 76. AB has the following sub-accounts (analytical features): "Counterparties", "Invoices".

Correspondence on debit

The account in question (76) under the debit can correspond with the following: "Fixed assets" (01), "Equipment for installation" (07), "Profitable investments in MC" (03), "Investments in non-current assets" (08), " Intangible assets "(04). From the second section of the chart of accounts, he interacts with the items "Materials" (10), "Animals in growing and fattening" (11), "Procurement and acquisition of the MC".

76 the account can correspond on a debit with all items of the section "Production costs", as well as with the accounts 44 41, 45 and 43, categories "Finished goods and goods". Postings with cash accounts are often performed: 52, 50, 58, 51, 55, and also with settlement ones: 60, 67, 66, 62, 73, 70, 76, 71, 79. In addition, the debit is followed by correspondence with the following accounts : 99 (reflects profits and losses), 91 (fixes various incomes and expenses), 90 "Sales", 97 "Expenses of future periods", 86 "Targeted financing".

Examples of business transactions (debited)

To understand the material outlined in the article, some examples from the table will help.

Correspondence on the loan

The account 76 can interact with the following categories of the chart of accounts: "Investments in non-current assets", "Fixed assets", "NMA assets", "Equipment for installation", "Profitable investments in MC". In the section "Production stocks" correspondence is carried out with the accounts "Materials", "Harvesting and purchasing of MC", "Animals in growing and fattening", "VAT on purchased valuables".

76 the account can also interact on the loan with all the calculated ones (except 68, 69, 75, 77) and the category "Production costs". From the section "Finished goods and goods" - with accounts 52, 50, 51, 44,55, 41, 57, 45, and 58. In addition, correspondence is carried out with most settlement accounts and, of course, with those that reflect monetary transactions (91, 97, 94, 96, 99).

Examples of business transactions (on a loan)

The following table with several examples will help you to familiarize yourself with the number of entries that the account 76 has.

Account balance 76

Beginning accountants often ask a question about what actually account 76: active or passive? In practice, there are different situations, but since it takes account of accounts receivable and accounts payable, the balance can be of two types:

• One-way (debit or credit);
• Bilateral (both debit and credit).

This means that the account in question is active-passive. In order to determine the debit balance, summarize all the debts from the counterparties. Balance 76 of the loan account reflects all the money that is required to pay the company.

Reports on accounts payable and receivable in the system 1 С

A company using the 1C: Enterprise 8 system should keep a record of the amount of receivables from counterparties. You can get acquainted with the information if you enter the section "Accounts" after launching the program. In the opened field there is a list of organizations and individual entrepreneurs. Among them there are debtors and creditors. Contact details, bills and contracts, work schedule - all this can always be seen. It is from this menu that you can register a new organization that is part of the holding.

Find out the exact debts of enterprises will not be difficult. To do this, enter the section "Arrears on contracts", select "Receivable" in the "Display debt" panel and set the required date. Before the user will appear a list of all counterparties, among which you can choose specific enterprises (with large debts). If there are a lot of organizations and the entire list does not fit on one page, the information can be presented in a visual form. To do this, you need to go to the "Chart" section. Similarly, work is carried out with accounts payable.

That's all you need to know about account 76, which reflects settlement transactions with debtors (creditors). As the legislation of the Russian Federation is systematically changing, it is necessary to regularly use the reference and legal systems, which always have an up-to-date chart of accounts and PBUs. Then the specialists will always be aware of any changes related to their professional activities and will be able to make the right decisions in the course of accounting.