The procedure for documentary design of writing off shortages and surpluses

 Write-off of shortages and losses from damage to valuables must be justified and finally, be confirmed by appropriate documents.

The procedure for writing off losses from shortages within the norms, as usual, the natural loss must be approved by the company's accounting policy.

Natural loss can be written off only after an inventory is carried out on the basis of a corresponding calculation of Small Business Accountants in Walsall. Undoubtedly, it is worth mentioning that the calculation is made by the accounting department with the role of financially responsible persons. Please note that after drawing up, in the end, the calculation is checked by members of the inventory commission, and then approved by the manager of the organization.

Please note: the norms of natural loss are not used for piece goods, as well as for goods supplied to the trading company in packaged form.

The shortage of products within the limits of the norms of natural loss, revealed during the inventory, is written off from the material, as we say, the responsible person.

Please note: Write-off of commodity losses, in general, is drawn up by acts of unified forms TORG-6 (curtain of containers), TORG-7 (register of goods and materials requiring a curtain of containers), TORG-15 (damage, battle, the scrap of goods and materials), TORG-16 (write-off of products), TORG-20 (part-time work, sorting, repackaging of products), TORG-21 (bulkhead of fruits and vegetables).

If the amount of the shortage exceeds the rate of natural loss, then it is necessary to conduct an official investigation in order, therefore, to find the presence or absence of persons guilty of the shortage. Please note that such an investigation may eventually be carried out by an inventory committee.

A well-grounded decision to write off the shortfall in excess of the norms of natural loss as expenses, or to attribute it to the guilty persons, is made by the manager.

A document that can confirm the absence of the guilty persons, perhaps, for example, is an acquittal by a court, a decision to suspend a criminal case, etc.

Surplus accounting

For accounting purposes, the excess identified by the organization is accounted for in other income.

The cost of the surplus is determined on the date of the inventory and must be proven documentary or by an expert method.

When posting the identified surpluses on the basis of the data reflected in the inventory statements, an accounting statement is drawn up, containing the following entries:

Dt of the inventory account (01, 07, 10, 41, 43) CT of the account 91.1 "Other income" - the surplus of goods and materials identified during the inventory was recorded.

The surplus revealed during the inventory can be used by the organization in the upcoming economic activity.

In the event that the forthcoming surpluses are written off to the creation, the cost at which they were capitalized is reflected in the debit of the expense accounts.

For exampleDebit account 20 "Main production" Credit account 10 "Materials".

When selling surplus inventories, their cost is finally taken into account as part of other expenses:

Debit account 91.2 "Other expenses" Credit account 10 "Materials".

When selling surplus products, the cost is charged to the cost of products sold:

Debit account 90.2 "Cost of sales" Credit account 41 "Goods".

Please note: capitalized surpluses in the form of fixed assets are amortized in a general manner from the 1st day of the month following the month of accepting the object for accounting