Repaid long-term loan. Short-term and long-term loans - accounting in accounting. Accounting for long-term loans

Account 67 of accounting is a passive account “Settlements on long-term loans and borrowings”, accumulates information on the status and movement of long-term loans and loans received by the enterprise for a period of more than one year. With the help of typical postings and practical examples, we will study the specifics of using account 67, including the reflection in postings of an operation to issue a bond worth more than face value.

This accounting account is passive and its increase is reflected in a credit, and its decrease in a debit. In other words, the receipt of long-term loans and borrowings, as well as the accrual of interest on them, is reflected in the loan, and their repayment - in the debit:

For separate accounting of the loan body and accrued interest, special sub-accounts can be opened for account 67:

Long-term loans and borrowings can be reflected in the accounting of an enterprise in two ways:

1. Fully on account 67 before maturity;
2. Or on account 67, when 365 days remain until maturity. Further, the loan amount is transferred to account 66 and taken into account there until the end of the repayment period.

The selected accounting procedure must be prescribed in the accounting policy of the enterprise.

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Additional expenses on loans and borrowings are taken into account as part of other expenses by posting Dt 91.2 Kt 51, 60, 76, etc.

Analytical accounting for account 67 is carried out by type:

• Loans and credits;
• Credit organizations;
• Lenders;
• Individual loans and credits;
• Credit institutions that have discounted promissory notes and other debt obligations, drawers of promissory notes, individual promissory notes.

Typical postings on account 67

Correspondence 67 accounts and the main entries on long-term loans and borrowings are presented in the table below:

Examples of transactions with postings on account 67

Example 1. Accounting for a long-term loan received from a bank

LLC "Vesna" received a loan for 3 years from the bank OJSC "Osen" in the amount of 2,500,000 rubles. Principal debt and interest are calculated monthly in equal installments at a rate of 13.5% per annum.

Posting table for account 67 - Long-term loan:

Example 2: Issuing a bond worth more than par

Suppose an organization has placed a bond on the secondary market worth 16,000 rubles, the face value is 10,000 rubles. with a maturity of 24 months.

Posting table - Issuance of a bond worth more than par.

Obtaining a loan from a bank or from another credit organization occurs on the basis of an agreement. The money is transferred to the settlement or currency account of the company. Interest must be paid for their use. Consider typical postings for issuance, return and.

Interest on a short-term loan

Loan funds are issued by the bank for up to 12 months. The loan is not company income and is not subject to taxation. But the interest accrued on the loan can be taken into account in the expenses of the organization.

The receipt of a loan is reflected in the entry for debit and credit. It is from the moment of transferring credit funds to the settlement account of the organization that an obligation arises to pay them.

Interest on the loan is calculated by posting:

• Debit 91.2 Credit 66.

If the bank charges a fee for granting a loan in the form of a single payment in a fixed amount, it is taken into account as other expenses:

• Debit 91.2 Credit 66.

This amount is written off in accordance with the terms of the accounting policy: at a time or in equal installments during the entire term of the loan.

• Debit 91.2 Credit 76 (66).

The organization received a short-term loan in the amount of 450,000 rubles. Interest rate 9% per annum. The term is 4 months.

Postings on receipt and interest on the loan:

Interest on a long-term loan

Borrowed funds that are issued for a period of more than a year are called long-term. They are taken into account. Obtaining is identical to a short-term loan:

• Debit Credit 67- receipt of borrowed funds to the settlement account.

Interest for using a long-term loan is recorded as:

• Debit 91.2 Credit 67 "Interest on the loan."

The payment of interest on the loan and the amount of the principal debt is made out by records:

• Debit 67 Credit.

Penalties on interest for late payment are calculated by posting:

• Debit 91.2 Credit 76.

The organization received a long-term loan for 5 years in the amount of 4,250,000 rubles. The rate is 12% per annum. Loan repayment - monthly, equal payments. In one of the months for payment of interest, interest was charged for late payment in the amount of 1,749.30 rubles.

Postings on accrued interest and obtaining a loan from a legal entity:

How a loan differs from a loan and how to keep records of loans and loans in accounting - this primarily depends on who asks these questions - the lender or the borrower. It is this condition that determines which accounts will be applied. How these operations are reflected in the accounting of each of the parties to the transaction and how a loan differs from a loan will be discussed in our material.

How is a loan different from a loan?

A loan is money transferred by a credit institution to a borrower. In this case, the latter pays interest for the use of such borrowed funds.

An important difference between a loan and a loan is that a loan is the attracted funds of organizations and individuals, expressed in money or their natural equivalent.

Given these definitions, we can distinguish how a loan differs from a loan:

• a loan is issued only by a bank, and a loan can be provided by individuals, organizations and individual entrepreneurs;
• a loan implies the payment of interest to the lender for the use of the issued amount, the issuance of loans does not contain such a mandatory condition: they can also be interest-free;
• a loan is issued exclusively in cash, a loan - both in cash and in the form of a natural equivalent (goods, for example).

What postings contains accounting for loans and borrowings received?

In accounting, there are no special differences between a loan and a loan. Thus, the rules for accounting for loans and borrowings in accounting are described in PBU 15/2008 “Accounting for expenses on loans and credits”.

The expenses should include:

• interest on loans and borrowings;
• other related expenses: payment for consulting and information services, expert evaluation of a loan or loan agreement, etc.

Interest, in accordance with paragraph 8 of PBU 15/2008, is accounted for in one of the following ways:

• evenly throughout the term of the contract,
• in the manner prescribed by the terms of the contract, if this does not violate the uniformity of their accounting.

Other expenses related to loans and borrowings should be accounted for evenly throughout the term of the contract.

Accounting for borrowed assets is carried out using the following accounts:

• 66 - under contracts with a validity period of 12 months or less;
• 67 - under contracts valid for more than 12 months.

We will consider the accounting procedure for loans and borrowings received with examples.

An example of accounting for a loan received

Example 1

The organization received a loan on February 2 in the amount of 1,500,000 rubles. Interest rate - 10%. The term of the loan agreement is 24 months. The amount of the monthly payment is 62,500 rubles. The agreement with the bank provides for the payment of interest and repayment of the loan amount on a monthly basis on the last day of each month. Interest is calculated from the next day after receiving the loan.

In February, the organization will make the following entries:

Dt 51 Kt 67.1 - a loan was received to the organization's current account in the amount of 1,500,000 rubles.

Dt 91.2 Kt 67.2 - interest accrued on the loan: 1,500,000 / 365 × 26 × 10% = 10,684.93 rubles.

Dt 67.2 Kt 51 - payment of interest - 10,684.93 rubles.

Postings in March:

Dt 91.2 Kt 67.2 - interest accrued on the loan: (1,500,000 - 62,500) / 365 × 31 × 10% = 12,208.90 rubles.

Dt 67.2 Kt 51 - payment of interest - 12,208.90 rubles.

Dt 67.1 Kt 51 - partial repayment of the loan - 62,500 rubles.

This loan, being a long-term one, will be reflected in line 1410 “Borrowed funds” of the balance sheet for 2018 in the amount recorded in the credit balance of account 67.

If the loan were short-term, it should have been reflected in line 1510 "Borrowed funds" of the balance sheet.

Commercial credit and trade bills are shown on the lines:

• 1450 "Other liabilities" (for long-term debt);
• 1520 "Accounts payable" (for short-term debt).

It should be noted that if the funds were received for the purpose of acquiring, constructing or manufacturing an investment asset, interest must be reflected using account 08 “Investments in non-current assets” (Dt 08 Kt 66.2 / 67.2). An exception to this rule is made for economic entities that keep records in a simplified way, which are entitled to use account 91.2 for these purposes (clause 7 PBU 15/2008).

How to reflect the issued credits and loans in accounting?

Accounting for loans issued is regulated by PBU 19/02 "Accounting for financial investments".

To reflect loans in accounting, the lender uses account 58 “Financial investments”.

Example 2

The organization issued a loan on March 1 for a period of 1 year. The loan amount is 3,000,000 rubles. The interest rate on the loan is 15% per annum. In accordance with the terms of the agreement, the borrower pays interest for each day of using the loan at the end of each month. Interest begins to accrue from the day following the day the loan is issued. The Agreement does not provide for partial repayment of the loan amount on a monthly basis.

In October, the lender reflected:

Dt 58 Kt 51 - issuance of a loan - 3,000,000 rubles.

Dt 76 Kt 91.1 - interest accrued: 3,000,000 / 365 × 30 × 15% = 36,986.30 rubles.

Dt 51 Kt 76 - interest received from the borrower - 36,986.30 rubles.

Postings in April:

Dt 76 Kt 91.1 - interest accrued for April: 3,000,000 / 365 × 30 × 15% = 36,986.30 rubles.

Dt 51 Kt 76 - interest received - 36,986.30 rubles.

Postings in May:

Dt 76 Kt 91.1 - interest accrued: 3,000,000 / 365 × 31 × 15% = 38,219.18 rubles.

Dt 51 Kt 76 - interest received on the current account - 38,219.18 rubles.

The lender will reflect the loan amount in the balance sheet for 2018 in line 1170 “Financial investments” in the amount of 3,000,000 rubles.

Accounting for interest-free loans issued

Example 3

Consider the conditions from example 2, while we assume that the agreement provided for the issuance of an interest-free loan.

Then the transactions at the lender will look like this:

Dt 76 Kt 51 - issuance of an interest-free loan of 3,000,000 rubles.

The next and last entry in the lender's accounting will be the posting Dt 51 Kt 76 (it will appear on the day the loan is repaid).

IMPORTANT! Loans issued on interest-free terms are not financial investments for the lender company (paragraph 2 of PBU 19/02), since an essential condition for recognizing assets as such is not met: their ability to generate income. At the same time, an issued loan providing for interest will be considered as such (paragraph 3 of PBU 19/02).

In the statements of the lender, the loan issued will be reflected in line 1230 “Accounts receivable”. At the same time, the organization can detail in the balance sheet the type of receivables: short-term debt with a period of 12 months or less and long-term debt with a period of more than 12 months.

How to account for an interest-free loan issued to an employee, read .

What are the features of tax accounting for credits and loans?

Received credit or borrowed funds are not income for the purpose of calculating income tax for their recipient by virtue of the norms of subpara. 10 p. 1 art. 251 of the Tax Code of the Russian Federation. Also, the funds issued are not an expense, taking into account the provisions of paragraph 12 of Art. 270 of the Tax Code of the Russian Federation. Similarly, funds received and paid in repayment of a loan or loan are not considered income and expenses.

At the same time, the amounts of accrued and paid interest are fully recognized as non-operating expenses in accordance with subpara. 2 p. 1 art. 265 of the Tax Code of the Russian Federation. The moment of reflection in expenses of the amounts of interest is determined in accordance with paragraph 8 of Art. 272 of the Tax Code of the Russian Federation:

• at the end of each month,
• on the date of repayment of the loan or loan (if they are fully repaid).

The amount of interest in the presence of controlled debt is included in non-operating expenses in the amount provided for in Art. 269 ​​of the Tax Code of the Russian Federation.

Interest received under credit and loan agreements is classified as non-operating income (clause 6, article 250 of the Tax Code of the Russian Federation).

It should be noted that differences in accounting and tax recognition in expenses of accrued interest on an investment loan or in the presence of controlled debt cause temporary differences to be accounted for in accordance with PBU 18/02 “Accounting for corporate income tax settlements”.

Is it possible to repay interest on a loan by mutual offset?

One of the methods of mutual settlements when repaying interest under a loan agreement, counterparties have the right to choose the offset of mutual claims. Set-off of requirements is possible subject to 3 conditions (Article 410 of the Civil Code of the Russian Federation):

1. the lender and the borrower have counterclaims to each other;
2. the requirements of both companies are homogeneous;
3. The deadline for the counterclaim has already passed.

To set off, a statement by one of the parties is sufficient.

The concept of a homogeneous requirement is not legally fixed. According to paragraph 7 of the information letter of the Presidium of the Supreme Arbitration Court of December 29, 2001 No. 65, it is indicated that the requirement for set-off may not correspond to obligations of one type. From this it follows that obligations related to the performance of various contracts, but with the same method of repayment and denominated in the same currency, are recognized as homogeneous.

Example:

The Stroymaster company received an interest-bearing loan from Alliance LLC in the amount of 20 million rubles. at 15% per annum for a period of 1 year with interest paid at the end of the loan period. That is, Stroimaster is obliged to return 20 million rubles. principal debt and 3 million rubles. percent (20 million rubles * 10%).

For this transaction, the companies recorded the following entries in accounting:

Alliance LLC purchased an office space from the Stroymaster company for 3 million rubles. The companies recorded in the accounting records:

The Stroymaster firm sent an application for offsetting mutual claims in the amount of 2 million rubles.

Counterparty transactions will look like this:

Results

Accounting for received credits and loans is reflected in the accounts: 66 - for short-term contracts, 67 - for long-term, and loans issued are reflected by the lender in the accounts: 58 - for interest-bearing loans, 76 - for interest-free loans. Loan and loan interest is non-operating income for the lender and non-operating expenses for the borrower.

Account 67 is designed to collect information on credits and loans issued for a period of more than 1 year. It contains detailed information about the amounts granted, interest accrued and the repayment process. Long-term liabilities can arise in different ways: when issuing bonds, issuing a loan or a loan, issuing bills of exchange. Each of the situations finds its place on account 67. Consider the types of long-term obligations and the organization of their accounting.

Types of borrowed funds

The legislation provides for two methods of legal registration of the provided borrowed funds. This is a loan agreement and a loan agreement. At their conclusion, two parties are involved - the lender and the borrower. A legally fixed transaction is made, according to which the lender provides the borrower with a certain amount of material assets for a specified period. Upon its expiration, the borrower undertakes to return the original amount of funds provided and pay interest (if provided by the agreement). After the transfer of values ​​from the lender to the borrower, the contract is considered active.

Depending on the terms of the contract and the categories of persons who participate in it, there are two main types of borrowed funds: loans and loans. Together, they form one of the most important articles in the formation of the sources of the enterprise. Borrowed funds, along with their own, significantly affect the welfare and development of the economic activity of a legal entity.

Types of loans and loans

Account 67 contains information about different types of borrowed funds. The only thing that unites them is the term of the obligation, which is at least 12 months from the reporting date. Loans may be in the form of targeted funds, bills of exchange or bonds. The main difference of this method of attracting assets is that a bank cannot act as a lender. A loan is a legally executed transaction, according to which the parties agree on the transfer of funds or property into ownership on the terms of repayment with or without payment of interest for use. Individuals and legal entities can conclude such an agreement, with the exception, as already mentioned, banks. One of the ways to attract loans is the issue of securities (bills, bonds, shares).

A loan is a relationship between the parties in which there is a transfer of funds on credit on the terms of urgency, payment and repayment. The procedure for granting and repaying loans is regulated by law. The rights and obligations of the parties are specified in the loan agreement. Account 67 contains information on long-term loans and interest on them.

Account characteristics 67

This account is included in section VI of the Model Plan, in which the accounts of the settlement group are located. They are designed to characterize relationships with different debtors and creditors. In the conditions of the modern economy, it is difficult for an average enterprise to do without attracting borrowed funds. Often this step becomes a "breakthrough" in the development of entrepreneurship.

Accounts 66 and 67 were created just to record operations on loans and credits issued to the company. The procedure for organizing accounting for them is similar, but has one significant difference - the term of the relationship between the lender and the borrower. Account 66 describes the relationship of the parties on short-term loans, that is, those that last less than 12 months. Account 67, on the other hand, is intended for accounting for longer transactions occurring within 12 or more months.

It has a passive structure, since the account balances at the end of the month are reflected in the sources of the enterprise. On a loan, there is an increase in borrowed funds (an increase in accounts payable), and on a debit, a decrease in debt obligations.

Analytical accounting

Account 67 combines a lot of information: the amount of loans by their types, the amount of accrued interest, penalties for delays. In order to avoid confusion, it is necessary not only to distinguish different types of long-term obligations from each other, but also to single out each creditor separately. An enterprise, in accordance with the recommendations of the accounting policy for organizing analytical accounting for account 67, can open the following subaccounts:

• 67/1 "Long-term loans";
• account 67/2 "Long-term loans";
• 67/3 "Interest on payment of loans and credits";
• 67/4 "Fines and penalties for payment of credits and loans";
• 67/5 "Overdue loans and loans";
• 67/6 "Loans for the issue of securities";
• 67/7 "Loans and credits for employees".

The data is reflected in summary statements, with the help of which the correctness of analytical accounting is verified.

Debit transactions

Postings drawn up on the debit of account 67 mean a decrease in accounts payable on long-term loans. In this case, several scenarios are possible:

1. Repayment of a loan (loan) by transferring funds. Accounts 51, 52, 55 will enter the relationship.
2. Completion of obligations after offsetting counter homogeneous claims (Dt 67 Kt 62/76).
3. Transfer of long-term debt to short-term debt if less than 365 days are left before its repayment (Dt 67 Kt 66).
4. Crediting an unfulfilled long-term obligation after the expiration of the limitation period to other income (Dt 67 Kt 91.1).
5. Transfer to the account of other income of positive foreign exchange differences on a long-term loan or loan in foreign currency.

Thus, the amounts indicated in the debit of account 67 always mean a decrease in the amount of debt on a long-term loan or credit.

Loan operations

Credit 67 of the account shows the amount of debt on loans and borrowings issued for a period of more than 1 year. Particular attention should be paid to the preparation of entries for the receipt of amounts or property in accordance with the loan (credit) agreement. Regardless of the purpose of registration, the amount is indicated in the credit of account 67. But it is somewhat more difficult to determine the corresponding account. The amounts should be charged to the asset account that is directly attributable to the loan or credit.

Consider typical cases:

• registration of a loan for the purpose of acquiring property or starting construction is reflected in the debit of account 08; at the same time, the costs associated with obtaining a loan (loan) and its use are charged either to account 91.2, or as part of the initial cost of fixed assets (if depreciation is charged on them and additional conditions are met);
• if the loan is provided in the form of property, then its amount is entered in the debit of the accounts of such property (10, 11, 41);
• cash and non-cash funds received in connection with the issuance of a long-term loan are indicated in the debit of accounts of Section V (50, 51, 52, 55);
• if a loan or loan is issued to cover other obligations, then the amounts are charged to these settlement accounts (60, 68, 76);
• expenses related to the maintenance of the loan (credit) and the imposition of penalties, interest are classified as other expenses;
• foreign exchange losses on foreign currency loans and borrowings are also included in operating expenses.

Bond issue

Bond placement is a common way to get long-term loans. Account 67 for such purposes contains sub-account 67.6, which reflects information on the issue of securities. Bonds can be placed on the market at a higher price than their face value, or, conversely, at a lower price. In the first case, the accountant fixes the nominal value on account 67, and writes off the excess amount to deferred income (account credit 98). Corresponding with them is usually a current account.

In case of sale of bonds at a reduced price (with a discount), the difference is evenly and gradually additionally accrued during the period of their circulation from the amounts of other income. Regarding this situation, the company can prescribe in the accounting policy an item according to which the discount is preliminarily taken into account among the expenses of future periods (debit 97). And then they gradually write off the amounts as other expenses in the debit of account 91.2.

Interest, which the issuer undertakes to pay to the owners of securities, is reflected separately on a separate sub-account and includes the amounts in the number of operating expenses (account 91.2). Or they are taken into account, like the previous case, as part of deferred expenses with a gradual write-off to account 91.2.

Bank loans

Account 67.1 contains information on issued long-term loans. Upon receipt of funds, the amounts are credited 67.1 and the debit of those accounts where they were sent. The entries describing this operation are as follows:

• Dt 50–55 Kt 67.1 - a loan received / credited.
• Dt 60 Kt 67.1 - the debt to suppliers was repaid at the expense of the loan, or the loan was sent for prepayment to the supplier.
• Dt 68 Kt 67.1 - the debt to the budget is covered with a loan.
• Dt 76 Kt 67.1 - the debt to another creditor was repaid at the expense of the loan.

A long-term loan (account 67) is repaid with even simpler entries. To do this, the account is debited in correspondence with cash accounts (51–55). The accrual of interest for the use of the loan occurs with the help of account 91.2, and the payment is in the same manner as the repayment of the debt.

Loan processing for staff

Loans issued for employees for the construction of housing and other needs are reflected in a separate sub-account (in the conditions of this article 67.7). The organization writes down the amounts received on credit 67.7 in correspondence with cash accounts. After issuing a loan to staff, posting Dt 73 Kt 51 (50) is carried out. The funds contributed by the employee to pay off the debt are taken into account in debit 73. The enterprise “closes” the loan with the posting Dt 67.7 Kt 51.

The capital of any enterprise is nothing more than a combination of borrowed and own funds. The implementation of effective economic activity is almost impossible without loans that contribute to the development of the enterprise. Funds are raised on a long-term basis mainly for investments, modernization, construction or acquisition of fixed assets. Amounts, interest and fines on them are reflected in account 67, the rules for maintaining which were discussed in detail in the article.

Account 67 "Settlements on long-term credits and loans" is intended to summarize information on the status of long-term (for a period of more than 12 months) credits and loans received by the organization.

The amounts received by the organization of long-term loans and borrowings are reflected in the credit of account 67 "Settlements on long-term loans and loans" and the debit of accounts 51 "Settlement accounts", 52 "Currency accounts", 55 "Special accounts in banks", 60 "Settlements with suppliers and contractors " etc.

Long-term loans raised through the issuance and placement of bonds are recorded on account 67 "Settlements on long-term credits and loans" separately. At the same time, if bonds are placed at a price exceeding their face value, then entries are made on the debit of account 51 "Settlement accounts", etc. in correspondence with accounts 67 "Settlements on long-term loans and borrowings" (at the face value of bonds) and 98 "Income future periods" (by the amount of the excess of the placement price of bonds over their nominal value). The amount charged to account 98 "Deferred income" is debited evenly over the period of circulation of the bonds to account 91 "Other income and expenses". If bonds are placed at a price lower than their face value, then the difference between the placement price and the face value of bonds is additionally accrued evenly over the period of circulation of bonds from the credit of account 67 "Settlements on long-term credits and loans" to the debit of account 91 "Other income and expenses".

Interest payable on received credits and loans is reflected in the credit of account 67 "Settlements on long-term credits and loans" in correspondence with the debit of account 91 "Other income and expenses". Accrued interest amounts are accounted for separately.

Account 67 "Settlements on long-term credits and loans" is debited for the amounts of repaid credits and loans in correspondence with cash accounts. Loans and borrowings that are not repaid on time are accounted for separately.

Analytical accounting of long-term credits and loans is carried out by types of credits and loans, credit institutions and other lenders that provided them, and individual credits and loans.

On a separate sub-account to account 67 "Settlements on long-term loans and borrowings", settlements with banks on the operation of accounting (discount) of bills and other debt obligations with a maturity of more than 12 months are taken into account.

The operation of accounting (discount) of bills of exchange and other debt obligations is reflected by the organization-bill holder on the credit of account 67 "Settlements on long-term credits and loans" (nominal value of the bill) and the debit of accounts 51 "Settlement accounts" or 52 "Currency accounts" (actually received amount of cash funds) and 91 "Other income and expenses" (account interest paid to a credit institution).

The accounting (discount) operation of bills and other debt obligations is closed on the basis of a notice to the credit institution of payment by reflecting the amount of the bill on the debit of account 67 "Settlements on long-term loans and borrowings" and on the credit of the corresponding accounts receivable.

When the organization - the holder of the bill returns the funds received from the credit institution as a result of accounting (discount) of bills of exchange or other debt obligations, due to the failure of the drawer or other payer of the bill of exchange to fulfill their payment obligations in due time, an entry is made in the debit of account 67 "Settlements on long-term credits and loans" in correspondence with cash accounts. At the same time, indebtedness on settlements with buyers, customers and other debtors, secured by an overdue bill, continues to be recorded on the relevant accounts receivable.

Analytical accounting of discounted promissory notes is kept for credit institutions that have registered (discounted) promissory notes or other debt obligations, issuers and individual promissory notes.

Accounting for settlements with credit institutions, lenders and drawers within a group of interrelated organizations, on the activities of which consolidated financial statements are compiled, is kept separately on account 67 "Settlements on long-term credits and loans".

Account 67 "Settlements on long-term loans and borrowings"
corresponds with accounts: