Sometimes, in the process of economic activity of organizations, accounts payable and receivable are formed between the same counterparties. For example, under a delivery agreement, you have shipped the goods to the buyer's warehouse, in addition to that, he also ships other products to you. Thus, you owe him, and he owes you. Here it is very appropriate to offset. But be careful when registering such transactions.
Necessary
- - Act of reconciliation;
- - invoice, act, contract;
- - payment documents.
Instructions
Step 1
Before offsetting, conduct a debt reconciliation to estimate the exact amount owed. This procedure is drawn up in the form of an act of mutual settlements. This document is in any form, drawn up in writing and signed by both parties.
Step 2
In the act of reconciliation of mutual settlements, indicate such information as the name of the product (service), the document-basis and the amount of debt. It is also necessary to register the amounts paid, referring to payment orders, statements from current accounts, expense orders, receipts.
Step 3
After the reconciliation is made, draw up a netting statement. There is no unified form for this document, so issue it in any form. Make it up in two copies, transfer one of which to the counterparty, and keep the second with you.
Step 4
In this document, be sure to indicate the date of its holding, the details of both parties, as well as the basis for the debt, for example, a contract, invoice, act. Also, do not forget to write down the amount owed, highlight the value added tax.
Step 5
This document is signed by the heads of organizations or persons acting on the basis of a power of attorney. Seal the act with blue seals of the organizations.
Step 6
Try to carry out an act of offset and shipment of goods (provision of services) in the same tax period, otherwise the tax office may charge interest on the amount of VAT. Also, post the act in accounting on the same date as the date of signing.
Step 7
Please note that offsetting is possible only when the debt has arisen, that is, when the obligation under the contract has not been fulfilled. Thus, it is impossible to ship products against debt.
Step 8
According to the Civil Code, offsetting can be either full or partial, that is, you can pay off the debt in full using it or any separate amounts. Be sure to write them in the act, while also indicating the documents-grounds on which the netting takes place.
