Regulations for the placement of funds in a deposit account. Accounting entries for deposits and interest
A bank deposit or, as it is customary to call it, a deposit agreement is an obligation under which the depositor transfers funds to the bank or the relevant organization. In exchange for this the investor receives after a certain time his money and interest on it.
As a rule, the amount of interest on deposit agreements is lower than the interest that banks receive on.
To raise funds, an organization must have a license. The deposit agreement must be executed in a written document or deposit certificate, savings book. Such documents may be provided for by law, other rules, if there is a reference to this in the law. Rules can be established as acts government agencies and banking rules.
A passbook can be issued to a specific person or to a bearer. It should reflect:
- Account information (number);
- Information about the institution to which the contribution was made or information about its branch;
- Information about the amounts that are deposited into and debited from the account.
Accommodation Money on deposit is made for a certain time. Sometimes invested funds can be received on demand at any time. But such a deposit will be less favorable in terms of its conditions.
The law gives the right to withdraw the invested money ahead of time, but then the interest rate will be reduced. In accordance with the law, the rate will correspond to the rate on deposits, which can be returned on demand.
If the depositor is this, then in the absence of the right to withdraw the deposit earlier than the time specified in the agreement, early termination of the deposit is impossible.
In some cases, at the end of the term, banks resort to tricks in order not to return the invested funds, as a result, the depositor misses the deadlines, does not comply with the requirements of the procedures for terminating the deposit. The money, of course, will be returned, but part of it will be spent on fines.
Interest can be paid every month, and can be paid after the expiration of the contract once.
In terms of changing the interest rate, you need to know that banks and credit organizations reserve such a right in deposit agreements and often use it. That's why you need to be prepared for interest rate changes.
You also need to know that the higher the percentage of deposits offered, the less reliable the organization is. A high interest rate indicates a crisis in a financial institution.
Placement of funds on deposit. Other questions
Deposit deposits, or rather their return is guaranteed by a special fund, which consists of contributions credit organizations. Part of the fund's assets is paid by the state. However You can apply to the fund only in case of bankruptcy of the bank.
Information regarding the provision of a deposit, is a prerequisite of the deposit agreement.
But, if the organization violates the contribution, then can go to court with the requirement to terminate the agreement with the bank or the relevant organization.
The size of the interest rate will then be depending on the place of residence or the discount rate of the Central Bank.
A deposit agreement signed in favor of an outsider is possible provided that his name is indicated. He may waive the right granted. However, before the moment he claims any rights to the deposit, the person who made the deposit can use this money.
Term non-replenishable deposit
A deposit attracted for a term established in accordance with the Deposit Transaction (Agreement), with the bank's obligation to return the deposit amount on the deposit expiration date.
For the right to early return of the deposit, the bank applies a discount to the attraction rate. The return of the deposit amount before the expiration of the term is carried out with the payment of interest calculated at 1/2 of the “On Demand” rate for individuals valid at the time of return of the deposit.
Refillable deposit
In addition to the initial deposit amount, the client has the right to make additional contributions to the deposit in accordance with the terms of the Deposit transaction (Agreement). initial deposit, minimum size additional contribution maximum amount contribution, taking into account the initial and additional contributions, term, deposit currency, interest rate, deadline for making additional contributions are established in the Bank Deposit Agreement.
The interest rate remains unchanged during the term and applies to additional installments.
- initial deposit amount - from 500,000 (from 50,000 for individual entrepreneurs) rubles / 50,000 $ / 50,000 €;
- deposit term - from 3 to 18 months;
- a deadline is set for making additional contributions within 4/5 of the deposit period.
Impossible to enter last month deposit term.
Advantages
the deposit is convenient for clients who plan to increase the amount of the deposit by making additional contributions;
as the term of the deposit decreases, the client has the opportunity to replenish it using "short" resources, while receiving interest at the rate of the "long" term.
Deposit with the possibility of partial or full refund
During the term of the Agreement, the Depositor may return a part or the entire amount of the deposit. The initial amount of the deposit, the minimum amount of the early repaid part of the deposit, the term, the deposit currency, the main interest rate, the interest rates for the early repaid amounts are determined in the Agreement.
- initial deposit amount - from 500,000 (from 50,000 for individual entrepreneurs) rubles / 50,000 $ / 50,000 €;
- deposit term - from 3 to 18 months. (may be extended up to 36 months);
- attraction rate for early repaid amounts - interest is charged on the early repaid amount based on the actual term of the funds in the deposit;
- in case of early repayment earlier than 1 month, interest is paid at 1/2 of the demand deposit rate for individuals.
Advantages
the deposit allows you to receive income from the placement of temporarily free funds, even if the term of their placement is changed;
the deposit allows clients to insure against unpredictable deterioration in the payment flow.
Replenishable deposit with the right of partial return
With this type of deposit, the client is given the opportunity to make additional contributions and return part of the deposit up to the established minimum balance on the deposit account. The initial deposit amount, the minimum amount of partial return and additional contribution to the deposit, the minimum balance on the deposit account, the maximum deposit amount, term, deposit currency, interest rate, deadline for adding funds are set in the Agreement.
- initial deposit amount - from 500,000 (from 50,000 for individual entrepreneurs) rubles / 50,000 $ / 50,000 €; deposit term - from 3 to 18 months;
- the minimum amount of the additional contribution is 25,000 rubles / 25,000 $ / 25,000 €;
- the maximum deposit amount, taking into account additional contributions, is 300% of the initial deposit amount;
- a deadline is set for making additional contributions within 4/5 of the deposit period. It is not possible to make a deposit in the last month of the term;
- the minimum balance of funds on the deposit account - 50% of the initial deposit amount;
- the minimum amount for a partial refund is 25,000 rubles / 25,000 $ / 25,000 €;
- in case of early repayment earlier than 1 month or in violation of the condition of the minimum balance on the account, interest is paid at 1/2 of the demand deposit rate for individuals.
Advantages
this deposit allows the client to quickly manage their own liquidity.
It is possible to place in Alfa-Business Online
Fixed balance
Alfa-Bank does not raise funds in the form of fixed balances from individual entrepreneurs.
accounting entries for deposits and interest, as well as for all other accounting transactions, must be drawn up correctly. After all, the reliability of these records depends financial statements and even the correct calculation of taxes. Let's talk in our article about deposit accounts and accounting accounts linked to them, as well as what accounting entries will be required for placing money on deposit, returning it and calculating interest.
Placing money on deposit - what is it
If the organization has free cash, then so that they do not lie dead weight on the current account, the organization can make them work. Thus, money that is not involved in circulation can bring additional income. One of the ways to receive such income is to place funds on a deposit.
A deposit account is an account banking institution on which the person places free funds, and the bank, in accordance with the terms of the signed agreement, accrues interest on them in the prescribed amount. Typically, deposit agreements are concluded for a specified period. After its expiration, the funds are returned to their owner. Funds can only be credited to this account as a deposit.
IMPORTANT! The deposit account is not intended for making settlements on it with third parties.
Which accounts are used in accounting entries for accounting for deposit transactions
The deposit account refers to the so-called special accounts in the bank, for which account 55 is intended for accounting. The Chart of Accounts (approved by order of the Ministry of Finance of the Russian Federation of October 31, 2000 No. 94n, as amended on November 8, 2010) provides for several sub-accounts. Deposits are recorded on sub-account 55.3 "Deposit accounts".
Since deposits are recognized as financial investments in accordance with paragraph 3 of PBU 19/02, they can also be taken into account on account 58 " Financial investments»by opening the appropriate sub-account.
NOTE! The organization fixes the method of accounting for the movement of money on deposit in accounting policy.
Accounts 55 and 58 are active, therefore, the increase in funds on the deposit will be debited, and their decrease in the deposit account or return to the owner to the current account will be credited.
As for the entries for the receipt of interest on the current account and, accordingly, their accrual, account 91 “Other income and expenses” will be involved in them. Sub-account 1 to this account "Other income" is intended to reflect various receipts, including interest received, from activities not related to the main one.
How accounting entries are made when transferring funds to a deposit and when they are returned (receipt to a current account)
So, the organization decided to place free cash in a deposit account with a bank. For this, a bank deposit agreement is concluded (Articles 834, 835 of the Civil Code of the Russian Federation), where the following are prescribed:
- type of deposit;
- the amount credited to the deposit;
- the amount of interest accrued by the bank and the frequency of their accrual;
- the amount of the deposit account maintenance fee;
- period of keeping funds in the account;
- liability for each party;
- terms of termination of the contract;
- other conditions agreed by the parties.
After all the formalities are settled, the bank opens a deposit account, where the organization's funds are usually transferred from the current account. At the same time, on the basis primary documents, including bank statements, an entry must be made in the accounting:
Dt 55.3, 58 "Deposits" Kt 51.
If the transfer was made from a foreign currency account, then the entry will take the form:
Dt 55.3 Kt 51, 58 "Deposits".
At the end of the period of storage of funds in the deposit account, the bank is obliged to return them to the owner to the current account. The deposit refund will be as follows:
Dt 51, 52 Kt 55.3, 58 "Deposits".
Interest accrued on the deposit - accounting entry and its significance for tax accounting
As we have already noted, the frequency of interest accrual, as well as their rate, is one of the mandatory conditions of the contract. When accruing interest from the organization - the owner of funds on the basis of bank documents, the following entry should be formed:
Dt 76 Kt 91.1.
Interest on deposits must be taken into account as non-operating income when calculating income tax, if the organization applies the main regime, or a single tax under the simplified tax system as they are accrued (or received) - clause 6 of Art. 250 of the Tax Code of the Russian Federation.
Interest can be transferred to the current account of a person as they are accrued, or they can be accumulated on a deposit account and paid in a lump sum only after the expiration of the contract. The transfer of interest to the current account will be reflected in the correspondence:
Dt 51 Kt 76.
Results
The company can place funds on the deposit in order to receive additional income. Records will appear in the accounting using account 55 or 58, which will reflect operations for transferring money to a deposit and returning it, and account 91.1, where interest accrued by the bank in favor of the owner of the funds as part of other income will be recorded.
The article presented the main accounting entries that should appear in the accounting when recording transactions on deposit accounts.
When a company has free funds, the best solution is to place them on a bank deposit in order to receive additional income. Unlike large investment projects, such an investment will not bring big profits, but is associated with fewer risks. There are a few important nuances, which distinguish the deposit for individuals from the deposit of a legal entity.
Types of deposits for legal entities
There are several types of deposits, each of which has its own characteristics:
- The “On Demand” deposit is different in that funds can be withdrawn from it at any convenient time. This type is convenient for current calculations. It has a relatively low yield (up to 2%).
- Funds from a term deposit can only be withdrawn after a specified period.
- A conditional deposit assumes that the client transfers funds for storage to the bank until the condition specified in the agreement occurs.
- NAU deposit account can be used for daily payments, while interest will be charged on the balance.
- In the bank where the organization's settlement accounts are maintained, a deposit can be opened for the service period. Funds from the deposit can be used to make payments.
- A deposit with the possibility of lending allows you to get a loan from a bank, having previously accumulated a specified amount in your account.
- Some deposits may be pre-paid with interest, with the bulk of the funds available only after a specified period.
- If you plan to keep money in the bank for a long time, use a deposit with a progressive interest rate, which increases depending on the term.
To get the maximum income and the most profitable use of funds, study the conditions of the bank in detail and choose the best option.
How to open a deposit?
The procedure for making a deposit for corporate clients also has its own characteristics. To open a deposit, the organization needs to provide a number of documents. Their list varies depending on the type of organization and the security rules of a particular bank. After checking the documents and copies, the representative of the company fills out a questionnaire, forms and signs an agreement with the bank. Funds are transferred by bank transfer from the settlement account to the deposit account. The bank has the right to refuse to open a deposit to the client if the tax authorities have made a decision to suspend the activities of the legal entity.
The contract specifies:
- in what currency the deposit will be made;
- the amount of the deposit;
- contract time.
Placing funds on a current account can also generate income. It is possible to conclude an agreement according to which interest will be accrued on the minimum or average monthly account balance. In this case, the bank stipulates the minimum amount placement, balance maintenance period and interest rate individually for each corporate client.
Available Operations
After the conclusion of the contract, the client can:
- use Internet banking;
- manage your accounts;
- control the execution of operations;
- withdraw funds or accrued interest from the deposit in accordance with the terms of the agreement;
- seek advice from bank employees.
At any time, you can withdraw the initial deposit amount, but in this case, the bank's client will lose the accumulated interest and may be forced to pay a penalty.
Conditions
General conditions for holding funds:
- The amount of the deposit cannot be less than the amount established by the bank.
- For each deposit, the bank must open a separate account.
- All information provided by the client and information about deposit transactions cannot be transferred to third parties, with the exception of representatives of law enforcement agencies.
The package of documents for opening a deposit differs depending on the type of legal entity.
Documents for IP:
- certificate of tax registration;
- licenses or patents (if they are necessary for the implementation of IP activities);
- extract from the United state register individual entrepreneurs received no more than 30 days ago;
- copy and original of the passport;
- copies of financial statements, tax returns, audit report.
A resident legal entity must provide:
- founding documents;
- certificate of state registration;
- certificate of registration with the tax authorities;
- a license giving the right to carry out activities;
- documents that confirm the powers of the executive body (orders, protocols);
- power of attorney to conclude an agreement with the bank;
- documents proving the identity of the person who signs the contract.
A non-resident legal entity submits to the bank copies of documents certified by the consulate (embassy) of the Russian Federation:
- documents that confirm the registration of a person in the territory of a foreign state in accordance with local legislation;
- founding documents;
- a power of attorney addressed to the person concluding the contract and his passport;
- extracts or copies of orders and orders that confirm the appointment of the heads of the organization;
- samples of seals and signatures;
- a copy of the tax registration certificate, certified by a notary.
How is interest taxed?
The creation of any type of deposits by an organization must be reported to tax service. You will have to pay tax on income from deposits if the deposit rate is higher than the refinancing rate established by Central Bank. If the deposit is opened from December 15, 2014 to December 31, 2015, then the income from deposits is taxed if the deposit rate is higher than the refinancing rate increased by 10 units. For deposits opened after January 1, 2017, the Central Bank rate should be increased by 5 units.
Only the percentage difference is taxable. To date, the rate set by the Central Bank is 8.25%. For a deposit made in 2015 with a rate of 20%, tax must be paid for the difference equal to 1.75%. The tax amount is automatically deducted and amounts to 35%. The tax base is calculated separately for each deposit. Sberbank currently offers corporate clients a rate of 3.3 to 6.21% depending on the term, deposit amount and currency (rubles, dollars, euros). Rates in other banks are higher and reach 12%.
Possible problems
The deposit helps the organization to receive additional income, however, there are several nuances that need to be considered before concluding an agreement:
- Due to the fact that the income from the deposit may be taxed, it is unprofitable to choose a bank with high interest rates.
- Contributions legal entities are not insured by the state. To protect your funds, a legal entity can take out insurance on its own.
- A currency deposit can only be opened by an organization that has a license for currency transactions.
- For opening a deposit, filling out an agreement, the work of an operator, withdrawing and depositing funds, banks charge an additional fee.
- Pay attention to the limits on withdrawal, replenishment and transfer of funds that the bank sets.
Procedure for closing a deposit of a legal entity
The account may be closed due to the termination of the enterprise, the reorganization of a legal entity or at the initiative of the bank. Also, the client may wish to transfer funds to another bank offering more favorable conditions. To close the deposit, you must present identification documents. The person who opened the account or another authorized employee of the organization can write an application. Close deposit individual entrepreneur only the person to whom the IP is registered can.
It is necessary to write an application in the form established by the bank. After that, you need to make a withdrawal of funds from the account. Funds must be withdrawn no later than seven business days. The balance on the account can be transferred to another account or received in cash. The obligation to notify the tax authorities of the closure of the account lies with the bank.
Agreement for banking services can be terminated only if the client has no debts, including to the tax authorities. The Bank may terminate the agreement unilaterally if there are no funds on the account for two or more years, by a court decision or in case of financial violations on the part of the client.
Contents of the journal No. 20 for 2017Yu.V. Kapanina,
expert on accounting and taxation
Accounting consequences of placing money on deposit
Documenting
The main document for accounting for the amount of the deposit, as well as interest on it, is a bank deposit agreement A paragraph 1 of Art. 834, paragraph 1 of Art. 836 of the Civil Code of the Russian Federation.
At the same time, such an agreement is considered concluded not from the moment it is signed with the bank, but from the moment money is deposited on a bank deposit. T paragraph 1 of Art. 834, paragraph 2 of Art. 433 of the Civil Code of the Russian Federation.
Opening a deposit is confirmed:
or a bank statement and a payment order - when transferring non-cash funds to a deposit;
or a receipt for a cash receipt signed by a bank employee with an imprint of a cash desk stamp - when depositing cash G clause 3.4 of the Regulations, approved. Central Bank 24.04.2008 No. 318-P.
Now banks provide their customers with the opportunity to open a deposit online. In this case, the bank deposit agreement in paper form is not signed. The procedure for documentary opening is that the representative of the legal entity (director, chief accountant) submits to the bank through the remote service system (for example, through the "Client-Bank") an application signed with an electronic signature, which indicates the information necessary for placing money. Thus, the company expresses its consent to the terms and conditions of deposits published on the official website of the bank. These electronic documents collectively, they are an agreement concluded between the company and the bank bank deposit(Of course, subject to the receipt of money in the deposit). A confirmation of the transfer of money to the deposit will be a bank statement.
In the contract, the accountant should pay attention to following points affecting the reflection of the deposit in accounting:
term of the deposit;
the procedure for accruing interest and the timing of their payment;
conditions for early termination of the contract.
income tax
Placement of money on the deposit, as well as their return from the deposit will not be an expense and income of the organization. And paragraph 12 of Art. 270, sub. 10 p. 1 art. 251 Tax Code of the Russian Federation. Only the interest due to the depositor is reflected in "profitable" income.
Interest is included in non-operating income V paragraph 6 of Art. 250, paragraph 6 of Art. 271, paragraph 4 of Art. 328 Tax Code of the Russian Federation:
on the last day of each month;
on the date of termination of the contract (return of money from the deposit).
Moreover, it doesn’t matter how the agreement specifies the terms for paying interest (even if they are capitalized and paid at a time when the deposit is returned), they must be recognized in tax accounting on a monthly basis.
If interest is calculated and paid by the bank on the last day of each month, then interest income can simply be taken from a bank statement without making any additional calculations.
Another thing is when interest is charged, say, in the middle of the month or at the end of the deposit term. Then the amount of interest must be determined by the formula (unless the contract provides for a special procedure for calculating interest):
The calculation must be reflected in the accounting statement-calculation.
The agreement may provide for the capitalization of interest (in other words, compound interest), that is, when accrued interest is added to the total amount of the deposit with a certain frequency, as a result, the size of the deposit increases and interest is accrued already for more ´ l- amount.
Example. Calculation of the amount of interest recognized in income
Condition. On September 4, 2017, the Company placed a deposit in the amount of RUB 1,500,000. for a period up to November 30, 2017 on the terms of monthly interest capitalization. Deposit rate - 6% per year. Interest on the deposit is accrued from the day following the day of receipt of money in the deposit, until the day of their return, inclusive. However, they are paid on the closing date of the deposit.
Solution. The calculation will be as follows.
| Months | Deposit amount, taking into account interest capitalization, rub. | Number of days of deposit placement | The amount of interest that the company will take into account in non-operating income at the end of the month, rub. |
| September | 1 500 000,00 | 26
(from 5.09 to 30.09) | 6410,96
(1,500,000 rubles x 6% / 365 days x 26 days) |
| October | 1 506 410,96
(1,500,000 rubles + 6410.96 rubles) | 31 | 7676,51
(1,506,410.96 rubles x 6% / 365 days x 31 days) |
| November | 1 514 087,47
(1,506,410.96 rubles + 7676.51 rubles) | 30 | 7466,73
(1,514,087.47 rubles x 6% / 365 days x 30 days) |
USN
Simplifiers also do not need to take into account in tax expenses and income placement of the amount of the deposit and its return T paragraph 1 of Art. 346.16, sub. 1 p. 1.1 art. 346.15, sub. 10 p. 1 art. 251 Tax Code of the Russian Federation.
Only interest on deposits should be included in taxable income. at paragraph 1 of Art. 346.15, paragraph 6 of Art. 250 Tax Code of the Russian Federation.
The date of recognition of "simplified" income is the day the money is received in bank accounts and (or) at the cash desk at paragraph 1 of Art. 346.17 of the Tax Code of the Russian Federation. That is, with the simplified tax system, interest is taken into account in income on the days they are received. The amounts are taken from bank statements or orders.
Difficulties in determining the moment of recognition of interest income may arise in a situation where the bank deposit agreement provides for the capitalization of interest. After all, the accrued interest goes to the bank account of the organization, but not to the settlement account, but to the deposit account, increasing the amount of the deposit. What date will be considered the day of receipt of income: the day of their capitalization (addition to the amount of the deposit in the deposit account) or the day they are credited to the current account? For clarification, we turned to the Ministry of Finance.
Date of recognition of income in the form of capitalized interest
date of receipt of income application of the simplified tax system recognized, in particular, the day of receipt of funds in bank accounts (cash method e) paragraph 1 of Art. 346.17 of the Tax Code of the Russian Federation.
For taxation purposes, an account (accounts) means settlement (current) and other bank accounts opened on the basis of a bank account agreement. A paragraph 2 of Art. 11 Tax Code of the Russian Federation. At the same time, in the Civil Code of the Russian Federation, bank account agreements are regulated by Ch. 45, and bank deposit (deposit) agreements, on the basis of which deposit accounts are opened, - Ch. 44.
In addition, Art. 86 of the Tax Code of the Russian Federation says that banks open accounts, deposits and are required to issue tax authorities certificates on the availability of accounts, deposits (deposits) in the bank and (or) on the balances of funds on accounts, deposits (deposits), statements on operations on accounts, on deposits (deposits) of organizations.
Thus, the accounts opened on the basis of a bank account agreement and on the basis of a bank deposit agreement differ from each other for tax purposes.
Therefore, the date of receipt of income in the form of interest on a deposit, subject to their capitalization, is the date the bank credits such interest to the settlement account of the organization.
UTII
Companies using UTII can also place free funds on deposits. According to the controllers, the interest received does not apply to activities subject to UTII. Therefore, deposit interest must be included in the income tax base as non-operating income based on separate accounting data A Letters of the Federal Tax Service of March 24, 2011 No. KE-4-3 / [email protected]; Ministry of Finance dated February 19, 2009 No. 03-11-06 / 3/36.
Note that earlier the Ministry of Finance had a different position on this matter. It was believed that if the company conducts only “imputed” activities, then interest income is not subject to income tax. I Letter of the Ministry of Finance dated November 27, 2006 No. 03-11-04/3/506. However, it is safer to stick to the later clarifications of officials.
If an organization combines imputation and simplification, then the deposit interest received must be taken into account as part of the income taxed under USN Letter of the Ministry of Finance of July 6, 2005 No. 03-11-04/3/7.
Accounting
In accounting, money placed on a deposit at interest is reflected as a financial investment. th pp. 2, 3 PBU 19/02. At the same time, at the choice of the organization that needs to be fixed in the accounting policy, they can be taken into account:
or on account 58 "Financial investments", sub-account "Deposits";
or on account 55 "Special accounts in banks", sub-account 55-3 "Deposit accounts".
Regardless of the account on which the deposit is recorded, it must be shown in the balance sheet as part of financial investments. th clause 19 PBU 4/99; clause 41 PBU 19/02:
or on line 1170 in the section "Non-current assets" - if the term of the deposit exceeds 12 months after the reporting date;
or on line 1240 in the section " current assets» - if the term of the deposit is not more than 12 months after the reporting date.
There is only one exception - a demand deposit. In the balance sheet, it is reflected in line 1250 “Cash and cash equivalent s" clause 5 PBU 23/2011.
Interest on the deposit is recognized as other income evenly over the term of the agreement, regardless of when it is actually received. s p. 34 PBU 19/02; pp. 7, 16 PBU 9/99; Letter of the Ministry of Finance of January 24, 2011 No. 07-02-18/01:
as of the last day of the reporting period. It's easier to do it monthly. Then interest accounting will coincide with "profitable";
on the date of termination of the bank deposit agreement.
Situation 1. Interest on the deposit is not capitalized and is paid by the bank upon closing the deposit. Then the accounting entries will be like this.
| Contents of operation | Dt | CT |
| Transferred money to the deposit | 58 (55-3) | 51 |
| On the last day of the reporting period, as well as on the date of termination of the contract | ||
| Interest on the deposit in the amount determined on the basis of the terms of the agreement is reflected in income | 76 | 91-1 |
| At the date of termination of the contract | ||
| Returned deposit | 51 | 58 (55-3) |
| Received interest on the deposit | 51 | 76 |
Situation 2. Interest on the deposit is capitalized and paid at the end of the deposit term. At the same time, the date of capitalization of interest under the agreement coincides with the date of recognition of interest income (for example, both of these transactions occur on the last day of each month). Then, to reflect the accrued interest in income, you need to make the following posting.
Situation 3. Interest on the deposit is capitalized and paid at the end of the deposit term. However, the date of capitalization and the date of recognition of interest in income are different (for example, with quarterly capitalization and monthly recognition of interest income). Interest accounting entries will be as follows.
And the entries for the placement and return of a deposit that includes interest in situations 2 and 3 will be the same as in situation 1.
Accounting nuances of early termination of the contract
If the company decides to withdraw money from the deposit ahead of schedule, the bank can recalculate the previously accrued interest at a reduced rate or not pay them at all. In this scenario, the company will have to adjust the recorded income.
Profitable adjustment. The company can T paragraph 1 of Art. 54, paragraph 1 of Art. 81 Tax Code of the Russian Federation:
or reduce by the amount of lost interest tax base the period in which the deposit was closed ahead of schedule - if the overreported income relates to the current year;
or include the amount of excessively accrued interest in non-operating expenses as a loss of previous years, identified in the current reporting (tax) period e sub. 1 p. 2 art. 265 Tax Code of the Russian Federation, - if the "extra" income falls on past years;
or submit revised declarations for the reporting (tax) periods in which “extra” income was reflected.
On the USN adjustment will not be required if, under the terms of the agreement, the entire amount of accrued interest is paid at a time when the deposit is closed. In the income under the simplified tax system, the company just needs to include the amount of interest actually received.
If the bank paid interest to the company's current account, say, monthly or quarterly, then it has already taken these amounts into account when calculating the "simplified" tax. And accordingly, the company can reduce the income of the period in which it closed the deposit by the amount of excessively calculated interest10/99