Account 66. Accounting for loans and borrowings in accounting. Short-term loans. Bank loans. Loan transactions

To summarize information about the short-term loans and loans received by the organization by the Chart of Accounts accounting and the Instructions for its application are intended for account 66 “Settlements on short-term credits and loans” (Order of the Ministry of Finance dated October 31, 2000 No. 94n). Short-term loans and borrowings are those that are issued for a period of 12 months or less.

We will tell you about the peculiarities of accounting for settlements on short-term loans and borrowings in our consultation.

Subaccounts to account 66 and analytical accounting

The organization sets the list of sub-accounts to account 66 independently, depending on the needs of accounting and analysis. The accepted subaccounts must be fixed in the composition of the working chart of accounts approved in.

• short-term loans attracted by issuing and placing bonds;
• accounting operations (discount) of bills of exchange and other debt obligations with a maturity of no more than 12 months;
• expenses on loans and borrowings (including accrued interest);
• loans and borrowings not repaid on time;
• operations within a group of interrelated organizations, the activities of which are consolidated financial statements.

Analytical accounting on account 66 is usually kept by types of loans and borrowings, banks and other lenders.

Typical accounting records for account 66

We present in the table the main accounting entries accounting for short-term loans and borrowings (

Account 66 "Settlements for short-term loans and borrowings" reflects information on the status of loans and borrowings received by the organization for a period not exceeding 12 months in Russian or foreign currency.

The amounts of short-term loans and borrowings received are reflected in the credit of account 66 "Settlements for short-term loans and borrowings" and the debit of accounts: 50 "Cashier", 51 "Current accounts", 52 "Currency accounts".

Organizations can conclude a commercial loan agreement among themselves, on the basis of which some organizations provide others with a deferred payment Money for goods sold, work performed, services rendered. The amounts of short-term commercial loans received to pay suppliers' bills are reflected in the credit of account 66 "Settlements on short-term loans and borrowings" and the debit of account 60 "Settlements with suppliers and contractors". Fulfillment of the obligation under the loan agreement (payment of the supplier's invoice) is reflected in the accounting of the borrower under the debit of account 66 "Settlements for short-term loans and borrowings" and the credit of account 51 "Current accounts". The accounting procedure for the provision of a commercial loan is contained in the comments to subaccount 58-05 "Loans granted".

Upon receipt of a short-term loan in kind, account 66 "Settlements for short-term loans and borrowings" is credited in correspondence with the debit of accounts received material values.

The interest payable on received short-term loans and borrowings is reflected in the credit of account 66 "Settlements on short-term loans and borrowings" in correspondence with the debit of sub-account 91-02 "Other expenses". When obtaining loans and borrowings for the acquisition of material values ​​or objects non-current assets interest on borrowed funds accrued before the date of capitalization of these assets is included in the actual costs of their acquisition and is reflected in the credit of account 66 "Settlements on short-term loans and borrowings" in correspondence with the accounts for the acquisition of assets. Interest accrued after the date the property is credited to the balance sheet relates to operating expenses and is charged on the debit of subaccount 91-02 "Other expenses".

Account 66 "Settlements on short-term loans and borrowings" is debited for the amounts of repaid short-term loans and borrowings in correspondence with the accounts of cash funds. In case of non-repayment of a loan received as security for a bill of exchange, the bank's retention of the bill that is secured by the loan is reflected in the debit of account 66 "Settlements for

short-term credits and loans "and credit of subaccount 91-01" Other income ".

Loans and borrowings not paid on time are accounted for separately.

The following subaccounts can be opened to account 66 "Settlements for short-term credits and loans": 66-

01 "Settlements for short-term bank loans"; 66-

02 "Settlements for short-term loans"; 66-

03 "Settlements for accounting (discount) bills of exchange"; 66-

04 "Settlements on bonded loans"; 66-

05 "Settlements with subsidiaries"; 66-

06 "Settlements with associates"; 66-

80 "Others".

Subaccount 66-01 "Settlements on short-term bank loans" is intended for the bookkeeping of settlements with the bank on loans received for a period not exceeding 12 months.

Subaccount 66-02 "Settlements for short-term loans" is intended for the bookkeeping of settlements with enterprises and organizations on received short-term loans.

Subaccount 66-03 "Settlements for accounting (discount) bills of exchange" is intended for the accounting of settlements with credit institutions for accounting (discount) bills with a maturity of no more than 12 months.

Accounting operations (discount) of bills are reflected in the credit of subaccount 66-03 "Settlements on accounting (discount) bills of exchange" and the debit of cash accounting accounts (actually received amount of funds) and subaccount 91-02 "Other expenses" (discount interest paid credit institution).

Accounting (discount) transactions of promissory notes are closed on the basis of a credit institution notification of payment by reflecting the amount of the promissory note on the debit of subaccount 66-03 "Settlements for accounting (discount) promissory notes" and the credit of the corresponding accounts receivable.

When a bill holder organization returns funds received from a credit institution as a result of an accounting (discount) of bills of exchange or other debt obligations due to non-fulfillment in set time The drawer or other payer under the promissory note of its obligations to pay shall make an entry on the debit of subaccount 66-03 "Settlements for accounting (discount) of promissory notes" in correspondence with the accounts for accounting for monetary funds.

Subaccount 66-04 "Settlements on Bonded Loans" is intended for the bookkeeping of short-term loans raised by issuing and placing bonds.

At the same time, if bonds are placed at a price that exceeds their par value, then the amount of the par value of the bonds is recorded on the debit of the cash accounting accounts and the credit of subaccount 66-04 "Settlements on bond loans", and for the amount of the excess of the placement price of bonds over their par cost - on the debit of the accounts of accounting of funds and the credit of subaccount 98-01 "Income received on account of future periods". The amount referred to subaccount 98-01 "Income received for future periods" is written off evenly during the circulation period of the bonds to subaccount 91-01 "Other income".

If the bonds are placed at a price lower than the par value, then the difference between the offering price and the par value of the bonds is additionally charged evenly during the circulation period of the bonds from the credit of subaccount 66-04 "Settlements on bonded loans" to the debit of subaccount 91-02 "Other expenses".

The interest payable on received bonded loans is reflected on the credit of subaccount 66-04 "Settlements on bonded loans" in correspondence with the debit of subaccount 91 2

"Other expenses".

Subaccounts 66-05 "Settlements with subsidiaries" and 66-06 "Settlements with associates" are used to account for loans received from subsidiaries and dependent companies for a period of less than 12 months.

Analytical accounting of short-term loans and borrowings is carried out by types of loans and borrowings, credit institutions and other lenders who provided them.

Table 6.4. Account 66 "Settlements for short-term loans and borrowings" corresponds with accounts By debit By credit 50 "Cash desk" 07 "Equipment for installation" 51 "Current accounts" 08 "Investments in non-current assets" 52 "Foreign exchange accounts" 10 "Materials" 55 " Special accounts in banks "41" Goods "62" Settlements with buyers and customers "50" Cash desk "66" Settlements for short-term credits and loans "16" Settlements with various debtors and creditors "51" Current accounts "91" Other income and expenses "52" Foreign currency accounts "55" Special accounts in banks "60" Settlements with suppliers and contractors "66" Settlements for short-term loans and borrowings "68" Settlements for taxes and duties "16" Settlements with various debtors and creditors "82" Reserve capital "91" Other income and expenses "WWW..InetLib: Ru. -

The construction company received from the organization "Aquarelle" a short-term loan in the amount of 177,000 rubles for one month. at 10% per annum. The funds were transferred to the company to the current account. The construction company in the same month carried out repair work for the organization "Aquarelle" in the amount of 177,000 rubles, including VAT of 27,000 rubles. The parties have agreed that the return of the loan amount will be repaid by offsetting a counter obligation to pay for fulfilled renovation works(on the date of return borrowed money established by the loan agreement).

The actual cost of the repair work performed was 147,000 rubles.

The tax period for VAT in a construction company is a calendar month. Income and expenses for income tax purposes construction firm determines on an accrual basis.

In accounting, postings are made:

Debit 51 "Current accounts"

RUB 177,000 - received a short-term loan;

Debit 62 "Settlements with buyers and customers"

Credit 90-01 "Revenue" -

RUB 177,000 - reflected the proceeds from the performed repairs;

Debit 90-03 "Value added tax" Credit 68 -

RUB 27,000 - the amount of VAT on the work performed has been charged;

Debit 68 Credit 51 "Settlement accounts" -

RUB 27,000 - the amount of VAT was transferred to the budget;

Debit 90-02 "Cost"

Credit 20 "Main production" -

RUB 147,000 - written off the actual cost of repair work;

Debit 66-02 "Settlements on short-term loans"

Credit 62 "Settlements with buyers and customers" -

RUB 177,000 - the repayment of mutual claims is reflected;

Debit 91-02 "Other expenses"

Credit 66-02 "Settlements on short-term loans" -

RUB 1454.79 ((177,000 rubles x 10%: 365 days) x 30 days) - interest on the received

Debit 99 Profit and Loss Credit 68 -

RUB 349.15 (1454.79 rubles x 24%) - a permanent tax liability is reflected;

Debit 66 "Settlements on short-term loans"

Credit 51 "Settlement accounts" -

1454.79 rubles - interest is transferred to the account of the organization.

Let us explain the accounting entries made.

In accordance with paragraph 1 "Loan" Ch. 42 "Loan and credit" Civil Code Russian Federation under a loan agreement, one party (lender) transfers to the ownership of the other party (borrower) money or other things defined by generic characteristics, and the borrower undertakes to return the same amount of money (loan amount) to the lender or an equal number of other things of the same kind and quality received by him (Clause 1 of Art. 807 of the Civil Code of the Russian Federation). The loan agreement must be concluded in writing when the lender is entity, - regardless of the loan amount (clause 1 of Art. 808 of the Civil Code of the Russian Federation).

Unless otherwise provided by law or the loan agreement, the lender has the right to receive interest from the borrower on the loan amount in the amount and in the manner specified by the agreement (clause 1 of Art. 809 of the Civil Code of the Russian Federation).

The amount of a short-term loan received by the organization (for a period not exceeding 12 months) (clause 5 (PBU 15/01), Order of the Ministry of Finance of Russia dated 02.08.2001 N 60n) is reflected in the credit of account 66 "Settlements on short-term loans and borrowings" in correspondence with the debit of the account 51 "Current accounts".

It should be noted that the receipt by the organization of funds in the form of a loan does not lead to an increase in the capital of the organization, the amount of the loan received is not the income of the organization (clause 2 of PBU 9/99, Order of the Ministry of Finance of Russia dated 06.05.1999 N 32n).

Borrowed (attracted) sources- funds provided to the organization for temporary use for a certain period, after which they are returned to the owners.

Accounting for loans and borrowings

To account for short-term bank loans in Russian and foreign currencies, account 66 "Settlements on short-term loans and borrowings" is used, to account for long-term loans - account 67 "Settlements on long-term loans and borrowings". The accounts are passive, therefore, the loan reflects the receipt of loans and the amount of interest accrued to be paid, the debit of the account reflects the repayment of the loan and interest on it. In this case, the following accounting entries are made in the accounting:

• debit of accounts 51, 52,
  credit of accounts 66, 67 - to receive credit funds;
• debit of accounts 66, 67,
  credit of accounts 51, 52 - for loan repayment.

For loans and credits received, the debt is shown taking into account the interest payable at the end of the reporting period.

Depending on the purposes for which it was received according to [, the interest payable has its own characteristics when reflected in accounting.

If the purpose of attracting credit funds is to purchase inventory for the implementation of statutory activities, then according to PBU 10/99 "Organization expenses", interest is included in the cost of products (works, services). For tax purposes, the interest paid is taken at the cost of production within the discount rate Of the Central Bank Russia, increased by three points (for loans received in rubles), or the LIBOR rate, increased by three points (for loans received in foreign currency). The newly established rate on loans from the Central Bank of Russia commercial banks applies to newly concluded and renewed contracts, as well as to previously concluded contracts, which provide for a change interest rate... When calculating interest in accounting, an entry is made: debit of account 91 "Other income and expenses", credit of account 66.

If credit funds are attracted for the purchase of fixed assets, intangible and non-current assets, interest on them is included in their acquisition cost until commissioning, while an entry is made in accounting for the accrual of interest: account 08 debit, account 66, 67 credit. commissioning of facilities interest on loans is reimbursed at the expense of own funds enterprises, compiled accounting entry: debit of account 84, credit of accounts 66, 67. At their own expense, interest on overdue loans is also reimbursed.

Example. The company was granted a loan for the purchase of inventory items 15.09. in the amount of 50,000 rubles. at 80% per annum, while the rate of the Central Bank of Russia in this period was approved at 60%. It is necessary to accrue interest on the loan from 15.09 to 30.09 (15 days). The calculation will be as follows:

• 50,000 * 80: 100: 360 * 15 = 1667 rubles.

For tax purposes, the amount of interest calculated at the rate of 60% + 3 points should be taken:

• 50,000 * 63: 100: 360 * 15 = 1,312.5 rubles.

The accrual of interest in accounting for the use of bank loans should be carried out separately, for which it is necessary to open subaccounts to the bank loan accounts "Interest payable".

Accounting for loans and targeted financing

Targeted funding and receipts are a source of additional funds received from sectoral and intersectoral special purpose funds, from other organizations, individuals to carry out targeted activities, for example, to expand its activities, to finance research and development, if there are not enough internal resources. These funds, unlike loans and borrowings, are non-refundable. A prerequisite the recognition of the funds received as targeted financing is the spending of funds for their intended purpose.

To account for funds targeted financing account 86 "Target financing" is intended, which is maintained in the context of sub-accounts, depending on the type of target receipts. The account is passive, the receipt of targeted financing is reflected in the credit of the account, the use of funds for the intended purpose is reflected in the debit of the account. At the same time, records are made in accounting:

debit all property accounts, and cash accounts, as well as the debit of account 76 "Settlements with different debtors and creditors", credit of account 86 - upon receipt of funds;

debit of account 86, credit of accounts 20, 26 - when spending funds.

Often, the normal life of an enterprise cannot do without a loan, since there is a need to attract additional working capital... A loan or loan is sum of money, which is issued on terms of return, the period of which is clearly specified and at a certain percentage.

Sometimes a loan may have a targeted nature, which excludes its use for other needs of the organization. Depending on the terms of the loan repayment, they are divided into short-term (if the loan term does not exceed 12 months) and long-term. In this article, we will look at the main transactions on account 66 - "Settlements for short-term loans and borrowings."

How to display the receipt and return of credit / loan funds or goods and materials in account 66 transactions?

To display short-term credit transactions, a special accounting account 66 "Settlements on short-term loans and borrowings" is used, which displays information on the receipt and repayment of short-term loans and loans of the enterprise. Account 66 is passive, so all receipts are displayed on the credit of this account, and repayment of debts (loan repayment) on debit.

Analytical accounting of credit transactions allows you to differentiate information on the sources of loans (credits) in accordance with the concluded agreements.

Sub-accounts 66 accounts

Features of using passive account 66 in postings

Account 66 is used to record credit funds, and not only national ones. So, when receiving a loan in foreign currency to display them in the accounting, they must be converted into rubles, according to the established rate The central bank Russia, which is valid on the date the foreign currency is credited.

The receipt of credit funds is displayed on the credit of account 66 with a debit of cash accounts, namely:

• (if the loan is issued in cash);
• (cashless form lending);
• (if the loan is issued in foreign currency);

Obtaining loans or credits carries with it a certain share of the costs that the company will incur in the future - these are interest on the loan, the commission for managing it and that arise when converting one currency into another. All these expenses or income (if the exchange rate difference is positive) are accounted for as part of operating costs on account 91/1 "Other income and expenses".

There may also be additional costs associated with processing and obtaining a loan, which are also taken into account as part of operating costs, but on a separate accounting account 60 "Settlements with suppliers and contractors." These may include legal and consulting services, expert examinations, communication services and other expenses (for debit account 91/2, and for credit 60).

Repayment of loan funds, payment of interest and bank commission monthly displayed on debit 66 accounts in correspondence with accounts of cash, non-cash or foreign currency funds (50,).

It should be noted that account 66 can also be used to record the issue and placement of bonds, if short-term loans were attracted with their help. If the bond is placed at a price higher than the nominal, then the debit will be the account, and credit 66 and 98 "Deferred income". If the bond is placed at a price lower than the nominal, then this difference is additionally accrued evenly from credit 66 to debit 91. Interest payable is accounted for separately by the following entry: debit 91 and credit 66.

Table of typical transactions for account 66 "Settlements for short-term loans and borrowings"

The repayment of the loan, in other words, its repayment, is determined by the conditions prescribed in the contract. The amount of payments and the schedule of their transfer to mandatory contained in the agreement.

Repayment of a short-term loan

When repaying a short-term loan from the current account, they transfer separately the amount of the principal debt (Debit 66 Credit) and separately interest (Debit 66 "Interest on the loan" Credit).

If the loan is repaid in currency, then the transaction will look like this: Debit 66 Credit.

Sometimes there are situations when a firm cannot make a payment on a loan on time. If the agreement contains sanctions for late payment (usually in the form of a percentage of the amount owed or a penalty), then

• the accrual of such amounts is carried out by recording: Debit 91.2 Credit 76,
• and payment - Debit 76 Credit.

Postings:

Long-term loan repayment

Repayment long-term loan essentially no different from short-term. The postings are the same, only the credit account is changed. For the long term it is. Therefore, the repayment of the principal amount of the debt on the loan will be reflected in the entry:

• Debit 67 Credit (),
• and interest - Debit 67 "Interest on credit" Credit ().

The organization received a loan in the amount of 3,700,000 rubles. for 7 years at a rate of 12% per annum. Payment is made monthly in equal amounts.