Settlements for short-term loans account. Short-term and long-term loans. Accounting for loans and borrowings

In the article, we will talk about what short-term and long-term loans are, how they differ, and how they are accounted for in the accounting department. In the article, we will get acquainted with two accounts: 66 and 67. Below are the transactions for the accounting of loans and borrowings with the participation of accounts 66 and 67.

V accounting plan accounts for accounting for short-term loans, there is account 66 "Settlements for short-term loans and loans ", to account for long-term loans, account 67" Settlements for long-term loans and borrowings "is used.

Loans, both short-term and long-term, are issued by credit organizations, that is, banks. They are given for specific purposes, for a limited period, after which the creditor undertakes to return the money received.

Video help "Accounting for short-term loans on account 66": subaccounts, operations

The video lesson explains in detail how to keep track of short-term credits and loans on account 66. The training is conducted by the teacher of the site “Accounting and tax accounting for dummies”, chief accountant Gandeva N.V. To watch online, click on the player below ⇓

Accounting for short-term loans

Short-term loans are issued for up to 1 year. The funds received are accounted for on the credit account 66 in correspondence with (if the loan is issued in cash), and (the corresponding entries D50 K66, D51 K66, D52 K66).

When receiving loans, the organization incurs certain costs. These can be the so-called main costs, which include interest on the loan, exchange rate, amount of interest differences. The main costs are included in the composition, while the posting is carried out in accounting D91 / 2 K66.

In addition to the main costs, there are additional costs associated with obtaining credit money, these include payment for legal, consulting services, copying and duplicating costs, taxes, expertise, communication services. These costs are reflected in the posting D91 / 2 K60.

Repayment of the loan is reflected on the debit account 66 in correspondence with the accounts, and, depending on how the loan debt is repaid (postings D66 K50, D66 K51, D66 K52).

Long-term loans accounting

A long-term loan is issued for a period exceeding 1 year. The funds received, as in the case of a short-term loan, are accounted for as a credit account. 67 in correspondence with accounting accounts Money... Further, a long-term loan can be accounted for in two ways:

1. On account 67 to maturity.
2. On account 67 as long as 365 days remain until maturity. After that, the loan amount is transferred to the account. 66 by posting D67 K66, that is, long-term debt is transferred to short-term debt.

The selected accounting method must be reflected in the order for accounting policies, which you can read about in the article ““.

Postings to accounts 66 and 67

The table below describes the accounting of credit transactions: obtaining long-term and short-term loans and their reflection. ⇓

To summarize information about the short-term loans and loans received by the organization, the Chart of Accounts and Instructions for its application are used for account 66 “Settlements for short-term loans and borrowings” (Order of the Ministry of Finance dated October 31, 2000 No. 94n). Short-term loans and borrowings are those that are issued for a period of 12 months or less.

We will tell you about the peculiarities of accounting for settlements on short-term loans and borrowings in our consultation.

Subaccounts to account 66 and analytical accounting

The organization sets the list of sub-accounts to account 66 independently, depending on the needs of accounting and analysis. The accepted subaccounts must be fixed in the composition of the working chart of accounts approved in.

• short-term loans attracted by issuing and placing bonds;
• accounting operations (discount) of bills of exchange and other debt obligations with a maturity of no more than 12 months;
• expenses on loans and borrowings (including accrued interest);
• loans and borrowings not repaid on time;
• operations within a group of interrelated organizations, the activities of which are consolidated financial statements.

Analytical accounting on account 66 is usually kept by types of loans and borrowings, banks and other lenders.

Typical accounting records for account 66

We present in the table the main accounting entries accounting for short-term loans and borrowings (

Account 66 of accounting is a passive account "Settlements on short-term loans and borrowings", serves to account for short-term loans and borrowings received for up to one year, as well as interest on them. With the help of standard postings, we will consider the specifics of using account 66, its subaccount, as well as examples of reflecting operations for accounting for interest on a short-term loan and accounting for positive exchange rate differences on account 66.

Sub-accounts of the account "Settlements for short-term loans and borrowings" are shown below in the figure:

This accounting account is passive, therefore, its increase is reflected in the loan, and the decrease is recorded in debit. In other words, the debit of the account reflects the repayment of loans and borrowings, and the credit reflects their receipt. The balance on the credit 66 of the account shows the balance of the debt.

Analytical accounting for account 66 is carried out by types:

• Credits and loans (separate bills);
• Credit institutions, including those accounting for (discount) bills of exchange or other debt obligations;
• Other lenders who have provided a loan or loan (drawers).

Accrued interest amounts are accounted for separately.

Settlements on transactions (discount) of promissory notes with an organization within a group of interconnected companies, about whose activities consolidated financial statements are formed, are carried out separately.

Typical transactions for short-term loans and borrowings

Correspondence 66 accounts and basic accounting entries for the account are formed in the table:

Examples of postings for account 66

Example 1. Transactions to reflect a positive exchange rate difference on a loan

For example, under a loan agreement, Viasna received funds from JSC Leto for 1 month. The loan amount is USD 1,000.00, and all payments are made in rubles. The US dollar exchange rate as of the date of receiving the loan is 58.30 rubles / USD, as of the date of repayment - 59.40 rubles / USD.

The accountant of Vesna LLC formed the following entries for account 66:

Example 2. Reflection of interest on a short-term loan on account 66.04

LLC "Leto" received a loan in the amount of 110,000 rubles. at 9% per annum. Interest:

1. April 2016 (15 days) - RUB 412.50;
2. May 2016 - 825 rubles;
3. June 2016 (10 days) - 275 rubles. Loan repayment.

Accountant LLC "Leto" has generated entries for account 66.04:

Borrowed (attracted) sources- funds provided to the organization for temporary use for a certain period, after which they are returned to the owners.

Accounting for loans and borrowings

To account for short-term bank loans in Russian and foreign currencies, account 66 "Settlements for short-term loans and borrowings" is used, for accounting for long-term loans - account 67 "Settlements for long-term loans and borrowings". The accounts are passive, therefore, the loan reflects the receipt of loans and the amount of interest accrued to be paid, the debit of the account reflects the repayment of the loan and interest on it. In this case, the following accounting entries are made in the accounting:

• debit of accounts 51, 52,
  credit of accounts 66, 67 - for obtaining credit funds;
• debit of accounts 66, 67,
  credit of accounts 51, 52 - for loan repayment.

For loans and credits received, the debt is shown taking into account the interest payable at the end of the reporting period.

Depending on the purposes for which it was received according to [, the interest payable has its own characteristics when reflected in accounting.

If the purpose of attracting credit funds is to purchase inventory for the implementation of statutory activities, then according to PBU 10/99 "Organization expenses", interest is included in the cost of products (works, services). For tax purposes, the interest paid is taken at the cost of production within the discount rate Of the Central Bank Russia, increased by three points (for loans received in rubles), or the LIBOR rate, increased by three points (for loans received in foreign currency). The newly established rate on loans from the Central Bank of Russia commercial banks applies to newly concluded and renewed contracts, as well as to previously concluded contracts, which provide for a change interest rate... When calculating interest in accounting, an entry is made: debit of account 91 "Other income and expenses", credit of account 66.

If credit funds are attracted for the purchase of fixed assets, intangible and non-current assets, interest on them is included in their acquisition cost until commissioning, while an entry is made in accounting for the accrual of interest: account 08 debit, account 66, 67 credit. commissioning of facilities, interest on loans is reimbursed at the expense of the company's own funds, is compiled accounting entry: debit of account 84, credit of accounts 66, 67. At their own expense, interest on overdue loans is also reimbursed.

Example. The company was granted a loan for the purchase of inventory items 15.09. in the amount of 50,000 rubles. at 80% per annum, while the rate of the Central Bank of Russia in this period approved by 60%. It is necessary to accrue interest on the loan from 15.09 to 30.09 (15 days). The calculation will be as follows:

• 50,000 * 80: 100: 360 * 15 = 1667 rubles.

For tax purposes, the amount of interest calculated at the rate of 60% + 3 points should be taken:

• 50,000 * 63: 100: 360 * 15 = 1,312.5 rubles.

The accrual of interest in accounting for the use of bank loans should be carried out separately, for which it is necessary to open subaccounts to the bank loan accounts "Interest payable".

Accounting for loans and targeted financing

Targeted funding and receipts are a source of additional funds received from sectoral and intersectoral funds special purpose, from other organizations, individuals to carry out targeted activities, for example, to expand its activities, to finance research and development, if there are not enough internal resources. These funds, unlike loans and borrowings, are non-refundable. A prerequisite the recognition of the funds received as targeted financing is the spending of funds for their intended purpose.

For accounting of funds of targeted financing, account 86 "Purpose financing" is intended, which is maintained in the context of sub-accounts, depending on the type of targeted receipts. The account is passive, the receipt of targeted financing is reflected in the credit of the account, the use of funds for the intended purpose is reflected in the debit of the account. At the same time, records are made in accounting:

debit all property accounts, and cash accounts, as well as the debit of account 76 "Settlements with by different debtors and creditors ", credit account 86 - upon receipt of funds;

debit of account 86, credit of accounts 20, 26 - when spending funds.

"Settlements with suppliers and contractors", etc.

Short-term loans attracted by issuing and placing bonds are accounted for on account 66 "Settlements on short-term loans and borrowings" separately. Moreover, if bonds are placed at a price that exceeds their par value, then debit entries are made accounts 51"Settlement accounts" and others in correspondence with accounts 66 "Settlements on short-term credits and loans" (at the par value of bonds) and "Deferred income" (in the amount of the excess of the placement price of bonds over their par value). Amount attributed to score 98"Deferred income" is written off evenly during the circulation period of bonds on score 91"Other income and expenses". If the bonds are placed at a price lower than their par value, then the difference between the offering price and the par value of the bonds is additionally accrued evenly during the circulation period of the bonds from the credit of account 66 "Settlements for short-term loans and borrowings" to debit accounts 91"Other income and expenses".

The interest payable on received loans and borrowings is reflected in the credit of account 66 "Settlements on short-term loans and borrowings" in correspondence with the debit accounts 91"Other income and expenses". Accrued interest amounts are accounted for separately.

Account 66 "Settlements for short-term loans and borrowings" is debited on the amount of repaid loans and borrowings in correspondence with the accounts for accounting for funds. Loans and borrowings not paid on time are accounted for separately.

Analytical accounting of short-term loans and borrowings is carried out by types of loans and borrowings, credit institutions and other lenders who provided them.

On a separate subaccount to account 66 "Settlements on short-term loans and borrowings", settlements with credit institutions on the accounting (discount) operation for bills of exchange and other debt obligations with a maturity of no more than 12 months.

The operation of accounting (discount) of bills of exchange and other debt obligations is reflected by the organization-bill holder on the credit of account 66 "Settlements for short-term loans and borrowings" (par value of the bill) and debit accounts 51"Settlement accounts" or "Currency accounts" (actually received amount of funds) and "Other income and expenses" ( discount percentage paid to the credit institution).

The operation of accounting (discount) of bills of exchange and other debt obligations is closed on the basis of a credit institution's notification of payment by reflecting the amount of the bill of exchange on the debit of account 66 "Settlements for short-term loans and borrowings" and the credit of the corresponding accounts receivable.

When a bill holder organization returns funds received from a credit institution as a result of an accounting (discount) of bills of exchange or other debt obligations due to non-fulfillment in set time The drawer or other payer under the promissory note of his obligations to pay shall make an entry on the debit of account 66 "Settlements on short-term loans and borrowings" in correspondence with the accounts for accounting for monetary funds. At the same time, the debt on settlements with buyers, customers and other debtors, secured by overdue promissory notes, continues to be recorded on accounts receivable.

Analytical accounting of discounted bills is carried out for credit institutions that have recorded (discount) bills of exchange or other debt obligations, drawers and individual bills.

Accounting for settlements with credit institutions, lenders and drawers within a group of interrelated organizations, the activities of which are consolidated financial statements, is kept on account 66 "Settlements for short-term loans and borrowings" separately.

Account 66 "Settlements for short-term loans and borrowings"
corresponds with accounts

Application of the chart of accounts: score 66

• Loans and loans received by the organization are reflected depending on the borrowing period on account 66 "Settlements for short-term loans and borrowings" or 67 "Settlements for ... long-term loans and borrowings". Therefore, when obtaining a loan or a loan for ...

• Accounting for exchange rate differences on foreign currency loans and borrowings

  Loans and loans received by the organization are reflected depending on the borrowing period on account 66 "Settlements on short-term loans and borrowings" or 67 "Settlements on ... long-term loans and borrowings". Therefore, when obtaining a loan or a loan for ...

• Not more than 12 months) loans (credits) are reflected in the credit of account 66 "Settlements on short-term loans and borrowings". Correspondence of accounts The content of the operation Debit Credit ... 51 66-1 The received short-term ... more than 12 months) loans (credits) are credited to the credit of account 67 "Settlements on long-term credits and loans". Correspondence of accounts Transaction content Debit ...

• Accounting for the difference in foreign currency loans and borrowings

  Not more than 12 months) loans (credits) are reflected in the credit of account 66 "Settlements on short-term loans and borrowings". Correspondence of accounts The content of the operation Debit Credit ... 51 66-1 The received short-term ... more than 12 months) loans (credits) are credited to the credit of account 67 "Settlements for long-term credits and loans". Correspondence of accounts Transaction content Debit ...

• Pledge. Accounting and taxation

  Accounts "66" Settlements on short-term credits and loans "5,000,000 Loan agreement, bank statement on the current account ... on loan 66" Settlements on short-term loans and borrowings ", subaccount" Interest on the loan received "51" Current accounts .. . bank on the current account, Loan agreement August 31, 2016: Reflected loan repayment 66 "Settlements for short-term loans and borrowings ...

• Accounting under a surety agreement. Examples of

  Accounts "and others. Set of accounts 66" Settlements for short-term credits and loans ", 67" Settlements for long-term credits and loans ... acc. 66 "Settlements for short-term loans and borrowings", 67 "Settlements for long-term loans and borrowings"; - with bank account returned ... accounts "66" Settlements for short-term credits and loans "1,000,000 Loan agreement; Bank statement on the current account ...

• Accounting for operations under a commodity credit agreement

  On account 66 "Settlements for short-term loans and borrowings" or 67 "Settlements for long-term loans and borrowings." Therefore, when obtaining a loan or a loan ... and credit of accounts for accounting for loans and borrowings: Debit account 10 "Materials", 41 "Goods" Credit account 66 "Settlements for short-term loans and borrowings" or 67 "Settlements for long-term loans and borrowings. .. "Other expenses") and the credit of account 66 "Settlements for short-term loans and borrowings" or 67 "Settlements for long-term loans and borrowings." Consider ...

• Accounting for a bank loan received for the purchase of a real estate object for the purpose of its resale

  12 months) loans received by the organization, account 66 “Settlements on short-term loans and borrowings” is provided. The amounts of short-term loans received by the organization are reflected in the credit of account 66 "Settlements for short-term loans and borrowings" in ... the corresponding subaccounts to account 66 "Settlements for short-term loans and borrowings" (66-1 "Settlements for the principal amount of debt", 66-2 “Calculations on accrued interest ...

• Rationing of interest on debt obligations

  The use of borrowed funds is reflected in the credit of accounts 66 "Settlements for short-term loans and borrowings" and 67 "Settlements for long-term loans and borrowings" in correspondence with a debit ... -the borrower opens to balance sheet accounts 66 "Settlements for short-term loans and borrowings", 67 "Settlements for long-term loans and borrowings" corresponding sub-accounts "Amount ... what: to balance sheet account 66" Settlements for short-term loans and borrowings "the following sub-accounts are open: 66-1" Settlements for the principal amount of debt ...

• Interest expense on debt obligations

  Short-term credits and loans received by the organization are summarized on account 66 "Settlements on short-term credits and loans". For the accounting of long-term loans, account 67 "Settlements for long-term loans and borrowings ..." is intended. Interest payable on ...

• Officials have simplified the accounting of loans and credits

  The Chart of Accounts still provides for two accounts - 66 "Settlements for short-term loans and borrowings" and 67 "Settlements for long-term loans and borrowings" - depending ...: the accrued interest amounts are reflected separately on the credit of accounts 66 and 67. B PBU 15/2008 ... accounts 66 and 67. How to write off interest. In accordance with the new PBU, borrowing costs are ... purposes. Now the calculation is made according to weighted average rate determined by the sum of all loans and borrowings outstanding ...

• From which accounts to take data by filling out accounting forms

  Credits and loans 4311 Debit turnover of accounts 50, 51, 52 in correspondence with accounts 66 "Settlements for short-term loans and borrowings ...", 67 "Settlements for ... long-term loans and borrowings" Cash ...

• Accounting and taxation of loans in foreign currency

  ... - the borrower to the lender on loans received in accounting is divided into short-term and long-term (n ... loans received by the organization, accounts 66 "Settlements for short-term loans and borrowings" and 67 "Settlements for long-term loans and borrowings" are intended. reflection of information on the availability and ... regulation and currency control. " accounting"Accounting for loans and credits and their costs ...

• Loan agreement in foreign currency: accounting for exchange rate and amount differences with the borrower

  Borrowing organization when receiving an interest-bearing loan (loan). Obligation and settlements in foreign currency Loan received ... under the credit of account 66 "Settlements for short-term loans and borrowings", and long-term (received for a period of more than 12 months) - for the credit of account 67 "Settlements for long-term loans and borrowings ..." 2 ... To be reflected in accounting, received on a foreign currency account ...

• Commodity credit: features of accounting and taxation

  12 months) credits and loans account 66 "Settlements on short-term loans and borrowings", long-term - account 67 "Settlements on long-term loans and borrowings". Clause 17 ... PBU 15/01 determines that the debt on ... loans and credits received ... of a commodity loan and interest on it Reflected the return of the principal amount of the loan 66 41 ...