Many organizations are faced with the problem of posting scrap metal, which appeared as a result of the company's activities. Scrap must be capitalized and reflected in the balance sheet of the enterprise.
Instructions
Step 1
First, make an inventory by drawing up an appropriate act, and then capitalize the scrap using 10 accounts in Debit and 20 in Credit. When registering, use the receipt order M-11, and after the scrap metal is handed over, take into account the income in account 91. Remember that when posting, you must take into account the corresponding price. Take market value or rough estimate of use as it. To do this, make a few calls to the scrap metal collection points and ask at what price they can accept it from you.
Step 2
If at your enterprise any equipment has become unusable, and the commission decided to hand it over for recycling, then this procedure will be different. First, sign a contract with the relevant company. Then write out the TTN indicating the waste, but without indicating the weight. After that, you will receive an act from the receiving organization, which will indicate the weight and price of the scrap metal. And make the postings: debit 91.2, credit 10, 6, indicate the price in accordance with the value of a possible sale. Spend the proceeds from the delivery of metal as follows: debit 76.1, credit 91.1. For posting debit 91.3 - credit 68.25, accrue VAT on the proceeds received.
Step 3
If the scrap metal was simply found on the territory of the organization and does not in any way relate to the activities of the enterprise, you can proceed as follows. Execute a contract for the transfer of metal from any individual, then capitalize it according to the previous example, and then you can already hand over the scrap metal to the collection point. Remember that all income must be reflected in the transactions. Also, carefully study the Tax Code and find out if the scrap you find is subject to VAT exemptions. Otherwise, you still have to pay tax.
