Analytical accounts for account 60. Expanded balance. Accounting for advances issued

Balance sheet for account 60 - Thisone of the accounting registers. It allows you to track the status of payments to suppliers for all types of business transactions, from the purchase of office supplies to the purchase of a new building. The account is active-passive, and in most cases this is the main reason for the difficulties encountered when filling out.

Characteristics and purpose of account 60

Being an active-passive account, account 60 may have a balance reflecting both advances transferred by the company and the company’s debts to suppliers. This is the main reason for the need to reflect detailed turnover and balances in the statement, since for different suppliers a completely opposite situation may arise at the same moment. A company on a certain date may, for example, owe payment to organization A and pre-transfer funds for goods that have not yet been shipped to organization B.

In connection with the above, it is customary to conduct analytics for account 60 not only by subaccounts, but also by the company’s counterparties. Considering that accounting programs have become widespread recently, implementing such an approach to accounting is not difficult. Most often, accounting databases allow you to generate a balance sheet for account 60, both as a whole for all suppliers, and in detail for each of them. Its data serves as the basis for generating reconciliation reports.

Rules for drawing up a balance sheet

The source of information for recording transactions in the statement are primary documents from buyers on the supply of goods, works, services, materials, non-current assets, as well as documents on payment for purchased assets or services. Account turnover must contain the following information:

• On a loan - purchase of various types of assets, works, services. The data in this part of the invoice comes from the accompanying documentation: invoices, invoices, acceptance certificates. Using these amounts, you can track debts arising to the supplier. Also, through this part of the account, documents from counterparties that were received by the accounting department before the goods were posted are processed.
• By debit - prepayment or payment for goods shipped, materials, products or services provided, work performed. In the account registers, it is necessary to take into account each transaction carried out, relating both to advance transfers and to the repayment of debt for products. All bank transfer documents and cash orders must be taken into account without fail.

Before you start preparing the statement, you need to remember the need for detailed reflection of information for each trading partner of the company. The easiest way to understand the design is with an example.

Example 1

PJSC Salyut and JSC Festival entered into a contract for the arrangement of a checkpoint for the amount of RUB 3,500,000, including VAT. In March 2016, PJSC Salut transferred funds under the agreement in advance in the amount of RUB 3,500,000. (RUB 533,898.31 - VAT). In April 2016, the parties signed acts of acceptance of work in the amount of RUB 3,500,000.

The accountant of PJSC "Salut" - the customer's organization - must make the following entries:

March 2016

April 2016

Debit	Credit	Sum		Title of the document
08 “Construction of facilities”	60 “Calculations for work”	RUB 2,966,101.69	Capitalization of construction work	Acceptance certificates, invoices
19 “VAT on construction and installation works”	60 “Calculations for work”	RUB 533,898.31	Accounting for incoming VAT	Invoices
60 “Calculations for work”	60 “Advances paid”	RUB 3,500,000	Closing an advance payment	Help-calculation

The balance sheet for the subaccount of account 60 “Advances paid” in April 2016 will look like:

Initial balance		Revolutions		Final balance
Debit	Credit	Debit	Credit	Debit	Credit
3 500 000			3 500 000

The statement for the synthetic account 60 for the same period will look like:

In the absence of postings to offset the subaccounts of account 60, the balance sheets will have the following form:

The balance sheet for the subaccount of account 60 “Advances paid”

Initial balance		Revolutions		Final balance
Debit	Credit	Debit	Credit	Debit	Credit
3 500 000			3 500 000

The balance sheet for the subaccount of account 60 “Calculations for work”

According to the synthetic score 60

Initial balance		Revolutions		Final balance
Debit	Credit	Debit	Credit	Debit	Credit
3 500 000			3 500 000	3 500 000	3 500 000

Linking statement data with financial statements

Based on the purpose of the parties to the accounting accounts, it is easy to understand that the debit balance will be reflected in the assets of the balance sheet, and the credit balance in the liabilities. This logical construction is fully confirmed by regulatory documents, namely clause 73 of the order of the Ministry of Finance of the Russian Federation dated December 24, 2010 No. 34n.

If you do not offset the subaccounts, the balances will be inflated, and the balance sheet asset and liability figures will not reflect the real state of affairs.

The use of a balance sheet allows you to determine account balances at the beginning and end of the period, as well as the amount of turnover for the reporting period. Account balance 60 affects the asset and liability items of the balance sheet, allowing you to obtain information about receivables and payables to the supplier.

When practicing full or partial prepayment of contracts, the company must keep separate records of paid and repaid amounts in the corresponding sub-accounts. When capitalizing assets against a previously made prepayment, additional entries must be made to close the advances subaccount. Only in this case will reliable data appear in the financial statements.

Account 60 “Settlements with suppliers and contractors” is used in almost every enterprise, and today we will look at how the turnover sheet is generated for account 60 in the 1C Accounting 8 edition 2 program.

In our example, we first made an advance payment to Tom LLC in the amount of 50,000 rubles from the current account. For this operation, a posting was generated: Debit 60.02 Credit 51. This amount went to the advances subaccount. Account 60 “Settlements with suppliers and contractors” is active-passive, but subaccount 2 to it is already active. You can view this by calling up the chart of accounts from the bottom of the “Enterprise” tab of the 1C Accounting 8 edition 2 program.

Active account - means that the account will increase by debit and decrease by credit. In our example with subaccount 2 of account 60, the debit of the account reflects the increase in the amounts of advances, and the credit reflects their decrease. The final balance in our example for this account is 50,000 rubles by debit. This means accounts receivable, that is, the debt of our counterparty - Tom LLC. We paid him money in advance and now he must either supply us with any value (goods, services, etc.) or return the advance amount.

If you need a turnover sheet for account 60 in the context of subaccounts, then in the “Settings” panel on the right side of the turnover you need to check the “By subaccounts” checkbox.

Now, when the turnover sheet is generated for account 60, you can immediately see which subaccounts reflect this or that amount.

Debit 41.01 Kt 60.01 in the amount of 100,000 rubles

Dt 19.03 Kt 60.01 in the amount of 18,000 rubles

Dt 60.01 Kt 60.02 in the amount of 50,000 rubles

Subaccount 01 to account 60 is passive; accordingly, the debit of the account reflects a decrease in debt to the supplier, and the credit of the account reflects an increase.

In our example, when goods are received from a supplier with VAT, the debt to the supplier increases for a total of 118,000 rubles.

At the same time, the debt is reduced by the amount of the previously paid advance - 50,000 rubles.

As a result, our company owes Tom LLC 68,000 rubles (118,000 – 50,000). This is accounts payable and this amount is reflected as the balance on the loan of subaccount 01 to account 60 “Settlements with suppliers and contractors”.

This can be seen more clearly when the turnover sheet is generated for account 60 in the 1C Accounting 8 edition 2 program.

In the following articles, I will look at how to make a turnover sheet for accounts 62 and 71 using specific examples, similar to how the turnover sheet for account 60 is formed. And about how the turnover sheet for account 60 is formed, ed. 3.0

The balance sheet for account 60 will help you check whether transactions are reflected correctly. The difficulty of keeping records on account 60 lies in the use of an active sub-account when creating a database of advance payments made and payments and a passive sub-account when creating transactions for received products.

SALT count 60: how to read?

The balance sheet acts as a report on the status of settlements with suppliers. The presence of amounts with a minus in it indicates incorrectly entered data. Accounting for account 60 should be carried out in the context of subaccounts and counterparties; when working with a supplier under several contracts, the detail of the analytics goes deeper to the level of agreements between enterprises.

The credit balance on account 60 can be formed by the following transactions:

1. D08 - K60, if accounts for acquired non-current assets are accepted for accounting.
2. D10, 41 – K60 in cases of receipt of materials or goods.
3. D20, 25, 26, 28 – K60 when reflecting the cost of work performed or services provided by contractors.
4. D50, 51, 52 – K60 – the supplier returned the money.

The credit balance on account 60 indicates the presence of debt of the enterprise for goods already recorded or services rendered and recognized. In analytical accounting, the balance will be formed according to subaccount 60.01.

Debit turnovers are filled in based on transactions:

1. D60 – K50, 51, 52, 55 when repaying debt or part thereof to the supplier.
2. D60 - K62, if counterclaims have been offset.
3. D60 - K66 - correspondence occurs in cases where the status of debt to the supplier takes on a new form - a short-term loan.

The debit balance on account 60 indicates the presence of accounts receivable. That is, the company entered into an agreement with the supplier (for services - with the contractor) and made an advance payment - partial or full. Until the commodity products along with supporting documents are received by the enterprise, the balance will remain on the account.

SALT count 60 – how to read the results? Balances must be viewed in expanded form - by counterparties and contracts. This approach will allow you to find out in a timely manner why funds have not yet been transferred, and which suppliers are delaying the shipment of goods. This facilitates reconciliation with counterparties and helps avoid penalties.

Compilation of SALT for account 60 using an example

On July 10, 2016, Class LLC transferred an advance to the account of Eurostik LLC for commercial products in the amount of 118,000 rubles, including VAT of 18,000 rubles. A week later, on July 17, 2016, the goods were shipped in full and received.

• D60.02 – K51 in the amount of 118,000 rubles. – the transfer of the advance payment from the current account is reflected.

• D10 – K60.01 in the amount of 100,000 rubles. – the posting of goods is reflected;
• D19 – K60.01 in the amount of 18,000 rubles. – input VAT;
• D60.01 – K60.02 in the amount of 118,000 rubles. – subaccounts have been offset.

date	Initial balance		Revolutions		Final balance
Counterparty
Subaccount
Eurostik LLC
Eurostik LLC
Eurostik LLC

In the example, SALT 60 of the account shows that as of July 10, Class LLC had outstanding advance payments. The prepayment was covered by the delivery of goods on July 17. As a result, the account balance became zero. If you do not offset subaccounts, their balances will be transferred to the balance sheet. The consequence will be a distortion of data in the assets and liabilities of the report. Having understood the question of what the debit balance on account 60 and the credit balances on it mean, you can optimize your accounting and management accounting.

Accounting for payments to suppliers is one of the most significant sections of accounting. Regardless of the field in which the enterprise operates, its activities are impossible without attracting goods or services from outside organizations. Accounting for settlements with suppliers is carried out on account 60 “Settlements with suppliers and contractors”. In order to fully have information about the status of settlements with counterparties for a specific period of time, periodic analytical activities are required. In this case, the main source of information in accounting is the turnover on account 60.

Characteristics of 60 accounts

According to its structure, account 60 is active-passive, since the final balance can be formed either by debit of the account or by credit, respectively:

• A credit balance on an account arises when the company has already received goods or services from suppliers,
• A posting to the debit of account 60 in correspondence with the cash accounting accounts is formed as the company repays its financial obligations for the valuables supplied.

For this account, it is advisable to organize analytical accounting not only in the context of each counterparty, but also in the context of each agreement concluded with a partner.

The turnover on the account for settlements with suppliers can be formed not only for the account as a whole, but also in relation to each individual counterparty. Such a report in its essence can become the basis for regular reconciliation of mutual settlements, as well as for inventory of receivables and payables.

Structure and meaning of turnover 60 accounts

In order for the account turnover to be formed correctly, all primary documents must be taken into account.

The account balance sheet is a table consisting of the following columns:

1. Accounting account;
2. Counterparties. This column will indicate either a complete list of the organization’s counterparties that were recorded on account 60, or a specific supplier, if there is a need to analyze information on the counterparty.
3. Balance at the beginning of the period. This column is divided into two columns - debit and credit. Depending on whether the opening balance is debit or credit, the amount will be reflected in one of these columns.
4. Period transactions. This column is also divided into debit and credit and is intended to reflect both the receipt of goods or services from the supplier and the transfer of payment for delivered values. Credit turnover will be formed by accounting documents received from the supplier. These may include delivery notes, certificates of work performed, and invoices. The debit turnover in the balance sheet will reflect the organization's payments transferred to the counterparty.
5. The last column, divided into a debit column and a credit column, is used to disclose information about the closing balance formed on the last day of the period under review.

A significant advantage of this analytical report is that you can analyze absolutely any time period. Unlike financial statements, which, as is known, are a photograph of the state of accounting on a specific date, the use of a balance sheet allows, based on the needs of the company, to independently select the period requiring analysis.

Using card 60 account

In addition to the turnover, an account card is often used for analytical activities. How is the structure of an account card different from a balance sheet? An account card is a report that allows you to obtain information on the selected account down to each accounting entry. An accountant may need this report when, based on turnover data, the expected state of settlements with suppliers does not correspond to the actual state and doubts arise regarding the correctness of the formation of accounting records involving account 60.

You can also create a score card of 60 for any time period. This is quite convenient if the approximate period of the error is known, as a result of which there is no need to view large amounts of unnecessary information.

The structure of this report is similar to the turnover for account 60 and reflects the following information:

• Account balances at the beginning of the period under review,
• Period transactions;
• The ending balance of the accounts for settlements with suppliers and contractors.

Account card 60 is generated separately for each document of mutual settlements with the counterparty.

Account analysis 60 accounts

Another equally important report provided to help an accountant is account analysis. It allows you to obtain information about all accounting accounts that were in correspondence with the accounts payable account during a certain period of time. Carrying out analytical activities in the “Account Analysis” report for settlements with suppliers will allow you to quickly check the accounting entries made by the responsible person involving 60 accounts during the analyzed period.

The structure of the report is presented as follows:

1. Accounting account;
2. Counterparty;
3. Accounting account corresponding to account 60;
4. Debit;
5. Credit.

Depending on whether the correspondent account is used as a debit or a credit in the transaction involving account 60, the entry with the amount will be reflected either in the “Debit” or in the “Credit” column.

It is advisable to use the “Account Analysis” report not only in relation to settlements with the company’s suppliers and contractors, but also with its buyers and consumers of services. In this case, an analysis of account 62 must be generated.

What does the debit of account 60 show?

The debit of account 60 shows how much our organization's counterparties owe, that is, debit turnover shows the amounts paid to suppliers. Account 60 can be supplemented with subaccounts if this is due to the accounting needs of the organization. For example, separate accounting is required for overdue debts, payments in foreign currency, and so on. The chart of accounts indicating all subaccounts used by the organization must be approved in the accounting policy.

Let's look at the subaccounts that are used most often:

• 01 “Settlements with suppliers and contractors.”
• 02 “Calculations for advances issued.”
• 03 “Settlements on bills issued”

The debit of subaccount 60.01 reflects advances against which supplies were made from suppliers, that is, the advance is offset.

The debit of subaccount 60.02 includes advances issued to suppliers for future deliveries.

An entry is made in the debit of subaccount 60.03 when repaying a previously issued bill.

What does account credit 60 show?

The credit of account 60 shows the debt of our organization to suppliers, that is, the amount of goods supplied goes there. If the supplier works on the general taxation system, that is, pays VAT, then the allocated amounts of this tax also go to account 60 - Settlements with suppliers and contractors. By credit they are reflected as part of the supply, by debit - as part of payment for goods or transfer of advance payment. Considering the subaccounts, we note that the credit of subaccount 60.01 includes deliveries of goods by suppliers, confirmed by primary documents: UPD, acts, invoices and others.

The credit of subaccount 60.02 reflects offset advances.

The credit of subaccount 60.03 takes into account own bills of exchange transferred to suppliers to ensure payment for goods.

Is count 60 active or passive?

Account 60 is included in section VI “Calculations” of the Chart of Accounts. It is a synthetic account. Analytical accounting for it is carried out for each counterparty and for each issued invoice or agreement.

Let's determine whether count 60 is active or passive. To answer the question, you need to understand that the accountant uses it to reflect all payments to suppliers. Therefore, a debt may arise both on the part of our organization (that is, the delivery was made but not paid) and on the part of the supplier (an advance was transferred). In accountant language, this means that the account balance can be either a debit or a credit. Thus, the count of 60 is active-passive.

Don't know your rights?

Postings applicable for account 60

For account 60, postings are compiled in correspondence with accounts, a complete list of which is indicated in the order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n.

If the supplier works for OSNO, then VAT is included in the cost of goods (work, services). Often, the same counterparty can act as a supplier under one contract and as a buyer under another. In such cases, it is convenient to use offset when making calculations.

Let's give examples of some wiring.

Let us focus on transactions related to uninvoiced deliveries. Uninvoiced delivery is a supply of material assets that is not supported by documents from which one can draw a conclusion about their value. For such deliveries, the “Uninvoiced Delivery” subaccount of account 60 is used.

When documents arrive, the following entries are made.

Option 1

Option 2

Balance sheet for account 60

The balance sheet for account 60 (SALT) is a convenient accounting record when working with identifying debts from suppliers and contractors. As the name of the report suggests, it displays turnover and balances by counterparties for the selected period. OSV discloses information on each counterparty with whom transactions were made during the specified period or at the beginning of which there was an outstanding debt.

An example of filling out the WWS is shown in the figure.

Score card 60

Account card 60 can be generated for any period of time, for each sub-account separately or as a whole for account 60. You can select by counterparties and specific contracts.

A sample account card 60 is shown in the figure.

The account card in the sample was generated in one month for one counterparty and one agreement. Here you can see the operations of paying an advance to a supplier, providing services by a supplier and offsetting the advance.

The account card contains the following details:

• Selected period.
• The debit and credit balance at the beginning and end of the selected period, the balance after each transaction.
• Transaction dates.
• Name of the counterparty and agreement.
• The essence of the operation being carried out.
• Transaction amount.
• Corresponding accounts.

Account 60 is a synthetic accounting account. It refers to active-passive accounts. The account is intended to reflect all settlements with suppliers and contractors. The accountant conducts analytics for each account or contract. Sub-accounts can be opened for account 60 based on the needs of the organization.