Penalty - penalty paid to the debtor for eachday of delay in payment. This is a method of penalty sanction, which is designed to induce the debtor to repay his debts sooner. Most often, a penalty is charged for non-payment of utility services and taxes. For a legal entity, the second case is particularly relevant. It happens that an enterprise does not have the means to pay taxes or intentionally hides them. The accrual of penalties, as well as the increase in any other obligation, should be reflected in the accounting records. See the posting of the penalty fee in the article.
Where should the penalty be taken into account?
Penalty is an obligation that increases withevery day. Accordingly, its value should be shown in the balance passive. On the basis of what is the first form of reporting? Of course accounting accounts. It turns out, as soon as an obligation of this kind arises, it must be entered into the debit and credit of two different accounts, that is, to make entries for taxes and sanctions. Accounting services, or rather, the persons who provide them, will easily cope with this task.
To reflect penalties for unpaid taxes on timeand fees are used account 99, which is created to collect the amount of profit and loss of the enterprise. It is here that the accountant will write down the amount of the increased due to a fine of the tax obligation. 68 "Accrual of penalties for taxes" will enter into correspondence. Accounting entries are limited to one record so far: Дт 99 Кт 68.
FAS on penalties
Accounting recognizes interest as otherThe expense, which in no way participates in determining the tax base when calculating the income tax. Make sure that obligations of this kind should indeed be reflected in account 99 allows paragraph 83 of the PBU and Instruction for the application of the standard chart of accounts.
Sanctions for violation of tax lawsThe Russian Federation is included in the loss of the enterprise, this should also include penalties for late payments for taxes and levies. When you enter the amounts in the debit of 99 accounts, you need to specify the amount in the financial statements: in line 2460. It turns out that the amount of the penalty reduces the net profit of the company, without changing the indicator in line 2300. Consequently, the posting of penalties and tax penalties do not affect tax accounting data.
Account Characteristics 99
The "Profits and Losses" account serves to collectinformation and deducing the final result about the financial activity of the enterprise. It has an active-passive structure. In the debit, the amounts of losses are indicated, and in the credit - the revenues. The account is closed before the preparation of the annual accounts. The final balance on one of the parties is written off as "Undistributed profit (uncovered loss)". Analytical accounting in the account is created in such a way that then all necessary data is transferred to the financial statements.
In addition to the 68th account, the 99th corresponds with manyaccounts. For example, 90, 91, 51, 01, 20, 41, 43 and others. Here the total result is written off both from factors that are positively affecting economic activity, and negative factors (loss, damage to inventories, results of emergency situations, delinquencies in loans and borrowings, accrual of tax penalties).
Accounting entries are prepared according to the principle:increase in liabilities in credit, increase in funds in debit. Whenever he receives income, he is written off at the end of the month with an account assignment Дт 99 Кт 91.1 (90). In case of loss, the account is credited.
How are penalties paid?
Penalties are of sufficient size in cashan expression to hurry the debtor to pay bills as soon as possible. Reflections in the accounting of payment of penalties occur with a record Дт 68 "Penalties" Кт 51. In the role of the credited, another account may act. For example, "Cashier" or "Settlements on short-term loans", if the penalty was paid by borrowed funds. Apparently, the charge of penalties is unprofitable for the enterprise: when it is redeemed, the liability for payments decreases, but the loss is not covered by anything.
Accounting entries for the accounting of taxes and fees
To reflect obligations on mandatory68. Analytical accounting is built from sub-accounts, which describes each tax or fee that must be paid by the enterprise at a certain time. The account is active-passive. The accrual of tax and other payments to the budget is made by correspondence of credit 68 with the debit of the account to which they relate. For example, the profit tax is reflected by the posting of Дт 99 Кт 68 using corresponding subaccounts.
For property tax, vehicles,resources used in the process of economic activity, apply their accounting records (01, 20, 91). If taxes are levied on individuals, accounts of settlements with them participate in correspondence 70, 75.
What kinds of taxes are charged penalties?
The enterprise undertakes to pay in a timely mannerinvoices presented by the state (tax inspection in particular). Everything that a legal entity owns and from which it receives income is taxed. VAT, profit tax, excises - these amounts "go" to the federal budget. Payments for the use of land, property and natural resources usually come in the local or regional treasury of the state.
Each of the existing for a legal entitytaxes must be paid on time. Therefore, it does not matter for what type of payment the tax penalty has been charged. The wiring is identical. Equally strictly punishable every day of delay for any of the mandatory contributions to the budget.
Non-payment of federal taxes
Federal obligatory payments includeVAT, personal income tax, income taxes, extraction of minerals, excises, state duties. Their size will please not every entrepreneur, but the amount of the accrued penalty even more so. But there is nothing left after receiving a notification of the sanction, in addition to reflecting the increased obligation in the accounting department and promptly pay it.
At the end of each year, an accounting andtax reporting, which contains information about the company's income. How to postpone the penalty for income tax? To do this, use the following entry: Дт 99 Кт 68 "Penalties". To analyze the profit before tax collection, you can additionally use the wiring Дт 91.2 Кт 68 "Penalty". It will not affect the calculation of the taxable base, and it will help to estimate the total amount of revenues received from economic activity for the development of the enterprise.
Similarly, any othertax charge on taxes. Accounting entries for this transaction always consist of a credited 68 account and debited 99 (possible with simultaneous reflection on account 91.2).
Other Penalty Types
To the appearance of a fine before the tax service canbring not only the delay in payment, but also violations of tax laws. Administrative responsibility provides, among other things, sanctions that can be imposed on the enterprise. Consider the main postings for fines and penalties for taxes in the table:
Dt | Cm | Description of the business operation |
99 | 68 | Charged for non-payment of VAT |
99 | 68 | Tax Service fined for violation of tax laws |
99 | 68 | Charged for late payment of personal income tax |
99 | 68 | The amount of penalty for non-payment of income tax is reflected |
91.2 | 68 | The amount of penalty for excise tax is reflected in the costs of the enterprise |
68 | 51 | From the current account, tax liabilities have been paid off |
68 | 66 | Taxes paid with the help of borrowed funds |
As you can see, the relationship of accounts is very simple, outsidedepending on what kind of tax arrears arise. Postings for late payments are after receipt of notification from the tax inspection. The received receipt is sufficient reason to make a record of Дт 99 Кт 68.
Features of reflection of a penalty
After the accrual of interest ontaxes (wiring Дт 99 Кт 68, Дт 91.2 Кт 68) at the enterprise with each day obligations increase. It is necessary to check whether the mistake of accounting, bank transfer or other persons, which could influence the incorrect calculation and delay in payment of taxes to the budget, is the reason for late payment.
Even if the management of the enterprise does not agree withimposed on him by sanctions, accounting still affects the accrual of penalties on taxes. Accounting entries in the case of proof of unfairly imposed penalties are canceled by reversing.
Penalty charge is a strict measure designeddiscipline the debtor and remind him of urgent obligations. Everything that concerns the tax service is extremely important for any enterprise. Fee accrual and payment must be recorded in the accounting data, and the reasons for their presentation are clarified.
