Accounting accounts 60.01. Expanded balance. Accounting for advances issued

Dt 60 Kt 60— wiring that, at first glance, may seem incorrect. Is it legal from an accounting point of view? And if so, what does the entry Dt 60 Kt 60 mean? Let's consider these questions in our material.

How is ledger account 60 used?

In accordance with the order of the Ministry of Finance of the Russian Federation “On approval of the Chart of Accounts” dated October 31, 2000 No. 94n (hereinafter referred to as the chart of accounts) account. 60 “Settlements with suppliers and contractors” is used to record transactions for the following business relationships with suppliers:

• acquisition of inventory items;
• acceptance of completed work;
• consumption of services provided;
• uninvoiced deliveries.
• other operations that are reflected in account 60 and provided for by the chart of accounts.

At the same time, for detail and correct reflection of information on transactions, sub-accounts to account 60 are used. An important point when opening sub-accounts is the need to secure them in the company’s working chart of accounts, which is approved by the accounting policy.

Let's look at examples of possible subaccounts to account 60:

• 60.01 - settlements with suppliers and contractors;
• 60.02 - settlements for advances issued;
• 60.03 - settlements on bills issued;
• 60.04 - settlements for uninvoiced deliveries.

It is also possible to open other sub-accounts regulated by the company’s working chart of accounts.

In correspondence with which accounts are debit 60 and credit 60 applicable?

In accordance with the chart of accounts. 60 is active-passive, so both its debits and its credits can be used for accounting entries. The debit of this account is often used in correspondence with accounts: 50 “Cash”, 51 “Settlement accounts”, 52 “Currency accounts”, 55 “Special accounts in banks”, 62 “Settlements with buyers and customers”, 76 “Settlements with various debtors and creditors" and so on. (according to the instructions for the chart of accounts).

Credit account 60 is often paired with the following accounts: 08 “Investment in non-current assets”, 10 “Materials”, 15 “Procurement and acquisition of materials”, 20 “Main production”, 25 “General production expenses”, 26 “General expenses”, 41 “ Products" and so on.

In addition, for account 60 it is also possible to post Dt 60 Kt 60, the use of which is due to the reflection of transactions using different sub-accounts opened for account 60.

What does the entry “Debit 60 Credit 60” mean?

Posting Dt 60 Kt 60 means repayment of obligations:

• for payment from a previously paid advance (Dt 60.01 Kt 60.02);
• bills (Dt 60.01 Kt 60.03);
• other obligations arising on account 60.

The use of subaccounts helps to reflect the details of a business transaction in more detail than using the entry Dt 60 Kt 60. Let us explain with examples.

Example 1

LLC "Tsvetok" entered into an agreement to purchase products from LLC "Tulip" in the amount of 153,400 rubles. (including VAT RUB 23,400). The contract provided for 100% prepayment. On April 4, 2018, “Flower” transferred 153,400 rubles. to Tulip, and on April 25, 2018, the products were received and capitalized.

Tsvetok LLC recorded the following entries:

1st option (without using subaccounts)

• Dt 60 Kt 51— an advance payment of 153,400 rubles was transferred.

• Dt 10 Kt 60 - products worth 130,000 rubles are taken into account.
• Dt 19 Kt 60 - VAT allocated in the amount of 23,400 rubles. (recorded on the invoice).
• Dt 60 Kt 60— the advance payment issued in the amount of 153,400 rubles was counted towards payment of the debt for the products.
• Dt 68 Kt 19 - VAT is accepted for deduction of 23,400 rubles.

As you can see, reflecting transactions without subaccounts causes certain inconveniences during further analysis of accounts.

2nd option (using subaccounts)

• Dt 60.02 Kt 51 - advance payment of 153,400 rubles is transferred.

• Dt 10 Kt 60.01 - products are accepted for accounting in the amount of 130,000 rubles.
• Dt 19 Kt 60.01 - VAT allocated in the amount of 23,400 rubles.
• Dt 60.01 Kt 60.02 - the debt for the products was paid in advance in the amount of 153,400 rubles.
• Dt 68 Kt 19 - VAT is deducted in the amount of 23,400 rubles.

If settlements under the agreement are carried out through the cash register, the entry Dt 60 Kt 51 changes to the entry Debit 60 Credit 50. However, in this case, it is necessary to remember to comply with the cash settlement limit (100 thousand rubles) if the parties to the agreement are a legal entity (or an organization and an individual entrepreneur ).

In what situation is the posting Debit 60 Credit 62 applicable?

Posting Debit 60 Credit 62 reflects the repayment of mutual claims to counterparties - the supplier and the buyer.

Example 2

LLC "Mag" signed a contract for the purchase of goods from LLC "Optovik" in the amount of 156,000 rubles. (including VAT RUB 23,796.61). On March 14, 2018, “Mag” paid the cost of the goods (RUB 156,000) and on March 17, 2018, registered the goods for the specified amount. On March 30, 2018, “Mag” returned the goods in full due to the lack of demand for them.

Mag LLC made the following accounting entries:

Dt 60 Kt 51 —reflected beforepayment for the goods is 156,000 rubles.

Dt 41 Kt 60 —The cost of the goods is taken into account: RUB 132,203.39.

Dt 19 Kt 60 - reflected input VAT of RUB 23,796.61.

Dt 68 Kt 19 - VAT is accepted for deduction in the amount of RUB 23,796.61.

Dt 62 Kt 90 - return of goods 156,000 rubles.

Dt 90 Kt 68 - VAT charged RUB 23,796.61.

Dt 90 Kt 41 - the cost of the goods is written offRUB 132,203.39

Dt 51 Kt 62 - advance payment of 156,000 rubles was returned.

In practice, a situation of offsetting mutual claims is also possible if the parties did not make monetary payments. In this case, in our example, instead of postings Dt 60 Kt 51 and Dt 51 Kt 62, the following entry will appear:

Dt 60 Kt 62 - offset of obligations in the amount of 156,000 rubles was carried out.

IMPORTANT! Tax officials consider the return of a quality product as a reverse sale (letter from the Ministry of Finance dated February 18, 2013 No. 03-03-06/1/4213).

Example for wiring Dt 60 Kt 76

Let's look at another situation.

Example 3

Let's take the conditions from example 2, but agree that the goods from the supplier were not received in full. Upon acceptance of the goods, LLC "Mag" revealed a shortage in the amount of 23,600 rubles. (including VAT RUB 3,600) and filed a claim with the supplier.

Dt 60 Kt 76— a claim was made for a shortage of goods of RUB 23,600.

Dt 41 Kt 60 —reflected the cost of the accepted goods 112,203.39rub.

Dt 19 Kt 60 - reflected input VAT 20,196.61rub.

Dt 51 Kt 76 —refund received from supplierpayment for undelivered goods in the amount of 23,600 rubles.

Results

Account 60 is present in almost every transaction of a business entity, forming transactions for purchased goods, works or services. Posting Dt 60 Kt 60 allows you to reflect a business transaction that is quite common in practice - repayment of debt for goods using an advance payment transferred to the supplier.

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 and payments made 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 a 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 - in the context of 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.

The balance sheet for account 60 (hereinafter referred to as OSV) is a summary of data on business transactions that are carried out using this account. The peculiarities of the formation of OSV are related to the fact that the count of 60 is active-passive. We will provide a sample of such a statement and tell you how to fill it out.

Description of account 60

Account 60 is active-passive, so it can have both a credit and a debit balance.

IMPORTANT! The balance must be reflected in detail, since the debit balance of account 60 is the prepayment paid, and the credit balance is the debt to the supplier for material assets, work, and services received but not paid for.

It is convenient to conduct analytical accounting for this account both in the context of subaccounts and for each supplier. Many accounting programs allow you to support such analytics. As a result, turnover is formed for the entire account, for sub-accounts of the account, and if necessary, you can always generate SALT separately for each supplier. The latest report can serve as the basis for drawing up a statement of reconciliation of settlements with the counterparty.

Formation of the statement: rules

The SALT must reflect absolutely all procurement documents, as well as all settlement documents:

• Credit turnover. The loan reflects all transactions related to the purchase of material assets, work, services, equipment, and fixed assets. All documents issued by suppliers and contractors: invoices, certificates of completed work, invoices must be reflected in the credit of account 60. This is how the organization's accounts payable are formed. If an organization does not use account 15 when purchasing materials, then uninvoiced supplies are also reflected in the credit of account 60. It also shows the return of the advance payment from the supplier for a delivery that was not completed by him.

It is described in detail how the work completion certificate should be filled out.

• Debit turnover. All operations related to payment to the supplier are processed through it. This includes repayment of the company’s debt reflected in the credit of account 60 and prepayment transactions. The debit must reflect all payment orders and cash documents on the basis of which the payment was made. This also includes data on offset transactions and return of goods to the supplier.

Formation of a statement: example

Let's start compiling the SALT. As mentioned above, the balance in the statement must be expanded. There are certain subtleties associated with this when creating the statement.

Let's look at an example.

Organization A entered into an agreement with organization B to perform work and transferred it an advance payment in the amount of 11,800 rubles. (including VAT RUB 1,800) in October 2018. In November, organization B completed the scope of work specified in the contract. The organizations signed a certificate of completion of work in the amount of 11,800 rubles. (including VAT 1,800 rubles), on the basis of which organization B issued an invoice to organization A.

Postings in the accounting records of organization A:

			Description	Primary document
October 2018
60 "Advances"			An advance payment was made to organization B under the contract	Payment order
68 “Calculations for VAT”			Accepted for deduction of VAT on advance payment	Invoice for advance payment from supplier
November 2018
			The cost of work performed is reflected in the accounting without VAT	Certificate of completed work
	60 “Calculations for work performed”		VAT reflected	Invoice for work
60 “Calculations for work performed”	60 "Advances"		Prepayment under the contract has been credited	Accounting certificate
76 “Calculations for VAT on advances issued”	68 “Calculations for VAT”		VAT accepted for deduction from advance payment has been restored	Sales ledger entry
68 “Calculations for VAT”			Accepted for deduction of VAT on work performed	Purchase ledger entry

Balance at the beginning		Turnover for the period		Closing balance
		Turnover by debit	Loan turnover

Balance at the beginning		Turnover for the period		Closing balance
		Turnover by debit	Loan turnover

Balance at the beginning		Turnover for the period		Closing balance
		Turnover by debit	Loan turnover

If no postings were made between the subaccounts of account 60, then the SALT will look like this:

SALT for November on account 60 “Advances”

Balance at the beginning		Turnover for the period		Closing balance
		Turnover by debit	Loan turnover

SALT for November on account 60 “Calculations for work performed”

Balance at the beginning		Turnover for the period		Closing balance
		Turnover by debit	Loan turnover

SALT for November on account 60 (synthetic)

Balance at the beginning		Turnover for the period		Closing balance
		Turnover by debit	Loan turnover
					Results The meaning of such an accounting register as SALT is quite simple: this statement shows the balance at the beginning of the period, all turnover for the period, and the balance at the end of the period. Account balance 60 must be expanded, since it affects the indicators of the balance sheet line: debit - on the amount of accounts receivable, and credit - on the amount of accounts payable. When an organization works with suppliers on the principle of “money first, chairs later,” the prepayment must be reflected in a separate subaccount. And after the obligations fulfilled by the supplier are recorded in accounting, it is necessary to make entries within the account. These turnovers also need to be reflected in the SALT. Then the account balance will be reliable and the correct information will appear in the corresponding balance lines.

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. On credit they are reflected as part of the supply, on 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.

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