Crediting currency to a currency account. Buying and selling currency: postings with an example

In its activities, the organization can:

• receive loans (credits) foreign currency.

Accounting for currency transactions is carried out on the basis of PBU 3/2006 and the Chart of Accounts and Instructions for its application. To summarize information on the availability and movement of foreign currency on foreign currency accounts opened with authorized banks in Russia or in banks outside of it, account 52 "Currency accounts" is intended. To account 52, you can open sub-accounts - “Currency accounts within the country”, “Currency accounts abroad”. Analytical accounting for account 52 must be kept for each account opened for keeping money in foreign currency. This follows from the Instructions for the Chart of Accounts.

Purchase of currency

The organization has the right to purchase foreign currency only through an authorized bank (Article 11 of the Law of December 10, 2003 No. 173-FZ).

To purchase foreign currency, draw up a settlement document (clause 3.1 of Instructions of the Bank of Russia dated June 4, 2012 No. 138-I). The uniform form of the settlement document is not established by the legislation. As a rule, banks have the necessary forms. In the settlement document, before the text part in the "Purpose of payment" attribute, indicate the code for the type of transaction from the list of currency and other transactions (clause 3.2 of Instructions of the Bank of Russia dated June 4, 2012 No. 138-I). When buying foreign currency, indicate the currency transaction code 01 030 (Appendix 2 to Instructions of the Bank of Russia dated June 4, 2012 No. 138-I).

To purchase foreign currency for an employee's business trip, see How to reflect in accounting cashless purchase currencies for business trips .

To reflect the transaction for the purchase of currency in accounting, you can use account 57 “Transfers on the way”. This is possible if the issuance of the settlement document to the bank for the purchase of currency does not coincide with the date of its receipt in the currency account. However, if rubles are debited from the account, they are sold and the currency is credited on the same day (this can be determined from bank statements), then account 57 can not be applied.

When transferring rubles for the purchase of currency, make a transaction:

Debit 57 (76) Credit 51
- transferred money for the purchase of currency.

The receipt of the purchased currency on the current account reflect as follows:

Debit 52 Credit 57 (76)
- currency is credited to a foreign currency account (based on a bank statement).

Capitalize the received currency at the official exchange rate in force on the date the money is credited to the organization's currency account. At the same time, make entries in the accounting registers both in the currency of settlements (rubles) and the currency of payments.

This procedure follows from paragraphs 4-6, 20 PBU 3/2006, paragraph 24 of the Regulation on accounting and reporting and the Instructions for the chart of accounts (accounts 52, 57, 76).

The exchange rate at which the bank buys it usually differs from the official one. If the currency is bought more expensive than the rate of the Bank of Russia, there is another expense from the operation of buying the currency (clause 11 PBU 10/99). If cheaper - other income (clause 7 PBU 9/99).

In most banks, you will have to pay a commission for the purchase of foreign currency. In accounting, include this amount in other expenses (paragraph 7, clause 11, PBU 10/99).

An example of the reflection in accounting of a transaction for the purchase of foreign currency

Alfa LLC signed a foreign trade contract. For its execution, Alfa needs US dollars. There is no money in the organization's foreign currency account. Therefore, on January 30, Alfa instructed the bank to purchase the necessary currency (1,000 US dollars). To do this, they compiled a settlement document and transferred 31,000 rubles for the purchase of foreign currency.

On February 2, the bank bought the currency at the rate of 30.50 rubles. per dollar and credited it to the organization's foreign currency account minus a commission in the amount of 200 rubles.

The accountant of the organization made the following entries in the accounting.

Debit 57 Credit 51
- 31,000 rubles. - transferred money for the purchase of currency.

Debit 52 Credit 57
- 29 700 rubles. (1000 USD × 29.70 rubles / USD) - the currency is credited to the organization's currency account;

Debit 91-2 Credit 57
- 200 rub. - commission fee is retained by the bank;

Debit 91-2 Credit 57
- 800 rubles. (1000 USD × (30.50 RUB/USD - 29.70 RUB/USD)) - reflects the difference between the currency purchase rate and the rate of the Bank of Russia;

Debit 51 Credit 57
- 300 rubles (31,000 rubles - 1000 USD × 30.50 rubles / USD - 200 rubles) - the balance of unspent money has been returned.

Accounting for foreign exchange earnings

The receipt of foreign exchange earnings from the sale of goods (performance of work, provision of services) is reflected in account 52. Sub-accounts should be opened for it:

• "Current currency account";

• "Transit currency account".

Transfer the received funds in foreign currency into rubles at the official exchange rate of the Bank of Russia, established on the date of their transfer to the organization's transit currency account (paragraph 1, clause 5, PBU 3/2006). At the same time, make an entry in the foreign currency accounting registers. This follows from paragraph 24 of the Regulation on accounting and reporting.

Accounting for the receipt of foreign exchange earnings depends on the terms of the contract. In particular, from:

• on what date the ownership of the goods is transferred or when the works (services) are considered accepted by the customer (as of the date of shipment, the date of signing the act, the date of payment, the date of registration customs declaration etc.);

• whether the contract provides for an advance payment.

If ownership passes on the date of shipment (a different date than the date of payment) and the contract provides for subsequent payment, make the following entries.

Debit 62 Credit 90-1
- reflected the proceeds from the sale of goods.

On the payment date:

- reflected payment by the buyer of the goods;

This procedure follows from paragraph 12 of PBU 9/99 and the Instructions for the chart of accounts (accounts 52, 62, 90-1).

If the contract provides for an advance payment, the advance payment received is not recognized as the income of the organization and is reflected in accounts payable (clauses 3 and 12 of PBU 9/99). Reflect the receipt of foreign exchange earnings in this case as follows.

On the payment date:

- received an advance payment in foreign currency;

Debit 52 subaccount "Current currency account" Credit 52 subaccount "Transit currency account"
- the currency is transferred to the current currency account.

As of the date of transfer of ownership:

Debit 62 subaccount "Settlements for shipped goods (works, services)" Credit 90-1
- reflected the proceeds from the sale of goods (performance of work, provision of services);

Debit 62 subaccount “Settlements on advances received” Credit 62 subaccount “Settlements on shipped goods (works, services)”
- prepayment received.

Such a posting scheme follows from paragraph 12 of PBU 9/99 and the Instructions for the chart of accounts (accounts 52, 62, 68, 76, 90).

Regardless of the terms of the contract in accounting, the organization must re-evaluate the requirements (obligations) in foreign currency. But the advances issued (received), determine at the rate of the Bank of Russia on the date of transfer of the prepayment and do not reevaluate in the future (clause 10 PBU 3/2006).

Reassess on the date:

• performing an operation;

• reporting date (on the last day of each month).

Besides, in accounting policy for accounting purposes, you can prescribe the procedure for revaluing foreign currency as the exchange rate changes.

This is provided for by paragraphs 7, 9-10 of PBU 3/2006, paragraph 7 of PBU 1/2008.

The revaluation results in exchange rate differences:

• positive - if the exchange rate against the ruble on the date of revaluation is higher than on the date of initial accounting of foreign currency;

• negative - if the exchange rate against the ruble falls.

This follows from paragraph 4 of clause 3 and clause 11 of PBU 3/2006.

It is advisable to issue the calculation of exchange rate differences in the form of an accounting statement-calculation drawn up in any form.

Take into account positive exchange differences as part of other income (clause 7 of PBU 9/99). Negative exchange differences - in other expenses (clause 11 PBU 10/99). This is also stated in paragraph 13 of PBU 3/2006.

An example of the reflection in accounting of an operation for the sale of goods for export. Settlements are made in foreign currency. The agreement provides for the transfer of ownership of the goods after crossing the border

Alfa LLC entered into a foreign trade contract for the supply of goods. Contract amount - 10,000 US dollars (VAT - 0%). According to the terms of the contract, the right of ownership passes to the buyer after customs clearance for export.

On January 28, Alfa shipped goods for export. Cost price goods sold is 230,000 rubles. Customs clearance was completed on February 1.

The buyer paid for the goods as follows:

• transferred an advance payment in the amount of 30 percent of the contract amount - on January 26;
• paid the rest - on February 1.

• January 26 - 29.70 rubles / USD;
• January 31 - 29.90 rubles / USD;
• February 1 - 29.80 rubles / USD.

To reflect the operation in accounting, the accountant opened:

• to account 62 "Settlements with buyers and customers" - sub-accounts "Settlements on advances received" and "Settlements on shipped goods";

• to account 52 "Currency accounts" - sub-accounts "Current currency account" and "Transit currency account".

Debit 52 subaccount "Transit currency account" Credit 62 subaccount "Settlements on advances received"
- 89 100 rubles. (3000 USD × 29.70 RUB/USD) - partial prepayment received from foreign organization on account of the forthcoming delivery of goods;

Debit 52 subaccount "Current currency account" Credit 52 subaccount "Transit currency account"
- the currency is transferred to the current currency account.

Debit 45 Credit 41
- 230,000 rubles. - Shipped goods for export.

Debit 52 subaccount "Current currency account" Credit 91-1

- 600 rubles (3000 USD × (29.90 RUB/USD - 29.70 RUB/USD)) - reflects a positive exchange rate difference on funds in a foreign currency account.

Debit 91-1 Credit 52 subaccount "Current currency account"
- 300 rubles (USD 3,000 × (RUB 29.90/USD - RUB 29.80/USD)) - reflects the negative exchange rate difference on funds in the foreign currency account;

Debit 62 subaccount "Settlements for shipped goods" Credit 90-1
- 297,700 rubles. (89,100 rubles + (10,000 USD - 3,000 USD) × 29.80 rubles / USD) - revenue from the sale of goods is reflected;

Debit 90-2 Credit 45
- 230,000 rubles. - written off the cost of goods sold;

Debit 62 subaccount "Calculations on advances received" Credit 62 subaccount "Calculations on shipped goods"
- 89 100 rubles. - advance payment made.

Debit 52 subaccount "Transit currency account" Credit 62 subaccount "Settlements for shipped goods"
- 208 600 rubles. ((10,000 USD - 3,000 USD) × 29.80 RUB/USD) - the debt on payment for the shipped goods has been repaid;

Debit 52 subaccount "Current currency account" Credit 52 subaccount "Transit currency account"
- the currency is transferred to the current currency account.

To calculate exchange rate differences on funds in a foreign currency account, the accountant issued certificates for January 31 and February 1.

An example of the reflection in accounting of an operation for the sale of goods for export. Settlements are made in foreign currency. The contract provides for the transfer of ownership of the goods after shipment. Payment is made after shipment

Alfa LLC entered into a foreign trade contract for the supply of goods. Contract amount - 10,000 US dollars (VAT - 0%). According to the terms of the contract, ownership passes to the buyer after shipment.

On January 28, Alfa shipped goods for export. The cost of goods sold is 230,000 rubles. On February 1, the buyer will pay for the goods in full.

The US dollar exchange rate set by the Central Bank of the Russian Federation was (conditionally):

• from January 26 - 29.70 rubles / USD;
• from January 29 - 29.90 rubles / USD;
• from February 1 - 29.80 rubles / USD.

The following entries were made in accounting.

Debit 62 Credit 90-1
- 297,000 rubles. (USD 10,000 × 29.70 RUB/USD) - revenue from the sale of goods after their shipment is reflected;

Debit 90-2 Credit 41
- 230,000 rubles. - written off the cost of goods sold.

Debit 62 Credit 91-1
- 2000 rub. (USD 10,000 × (RUB 29.90/USD - RUB 29.70/USD)) - reflects a positive exchange rate difference on the buyer's obligation arising from a change in the exchange rate on the reporting date.

Debit 52 subaccount "Transit currency account" Credit 62
- 298,000 rubles. (10,000 USD × 29.80 RUB/USD) - payment for the shipped goods has been received;

Debit 52 subaccount "Current currency account" Credit 52 subaccount "Transit currency account"
- the currency is transferred to the current currency account.

Debit 91-1 Credit 62
- 1000 rubles. (USD 10,000 × (RUB 29.90/USD - RUB 29.80/USD)) reflects a negative exchange rate difference on the buyer's obligation arising from a change in the exchange rate on the date of payment.

Organizations - legal entities in the process of their activities, in addition to the domestic currency, foreign currency can be used. First of all, this is caused by the need to pay for import contracts. But the acquisition of currency can be carried out for other purposes: the repayment of foreign exchange obligations, the issuance of travel allowances for employees traveling abroad, the payment of salaries in foreign representative offices of the company.

When accounting for foreign exchange transactions, organizations and enterprises should be guided by the Regulations on accounting PBU 3/2006, the provisions of Federal Law No. 173-FZ, as well as other regulations regulating accounting entries foreign exchange transactions.

These provisions determine the procedure for the implementation of foreign exchange transactions. According to these documents, accounting is kept in rubles by recalculating the value of the currency at the rate of the Central Bank of the Russian Federation on the date of the transaction. Due to the fact that official exchange rates are constantly changing, it is decisive to reflect in accounting documents date of the transaction. This will determine the exchange rate difference caused, for example, by the difference exchange rate at the time of acceptance of obligations and their fulfillment. This difference is considered as and reflected in sub-account 91.1 (in case of a positive exchange rate difference), or in sub-account 91.2 (in case of a negative exchange rate difference).

For implementation additional control foreign exchange transactions, sub-accounts are opened to the involved accounting accounts, accounting for which is maintained in the corresponding foreign currency. Such a separate accounting of operations on a foreign currency account simplifies the maintenance of contracts with foreign partners and helps to analyze them.

To carry out transactions with foreign currency, an organization must open a foreign currency account with a bank. In accounting, the movement of funds is reflected in the account "Currency accounts" (52). When working with different currencies, additional sub-accounts are opened for this account. We will analyze transactions for foreign exchange transactions in more detail on transactions for the purchase and sale of foreign currency.

Accounting for the purchase of currency

To make a purchase, you need to transfer the required amount to a ruble bank account. For this, subaccount 57.2 “Cash for the purchase of currency” or a subaccount of account 76, designed to account for interaction with debtors and creditors, can be used.

Accounting entries for the purchase of foreign currency:

• D57.2 (76) K51 - funds were credited to the bank account for the purchase of foreign currency.

Then the bank purchases the currency and credits it to the currency account. The wires are:

• D52 K57.2 (76) - the acquired foreign currency funds are credited to the account
• D51 K57.2 (76) - funds not involved in the transaction were returned to the current account.

Accounting regulations state that possible costs related to the purchase of currency, such as bank fees, should be treated as other. The bank commission entry can be as follows:

• D76 K51 - funds were credited for the payment of bank commissions
• D91.2 K76 - the commission is included in other expenses.

By tax code commissions are included in other, and sometimes non-operating expenses.

In the event that a currency is purchased at a rate that does not correspond to that established by the Central Bank, the resulting exchange rate difference during the purchase is carried out in the following order:

• D91.2 K57.2 - in case of loss caused by exchange rate difference
• D57.2 K91.1 - with a positive exchange rate difference.

Example of accounting for the purchase of foreign currency

The company needs to purchase $5,000 from the bank. To do this, she transferred funds to the bank in the amount of 190,000 rubles. The official dollar exchange rate is 35.93 rubles. The bank was able to purchase the currency for 36.4 rubles. Banking commission amounted to 1500 rubles.

Wiring:

Accounting for the sale of currency

According to the current legislation, proceeds from the sale of foreign currency are considered other income of the enterprise, and the ruble equivalent of the debited currency and paid commissions are considered other expenses. In this regard, in the accounting of sales transactions currency funds are reflected on sub-accounts 91-1, 91-2 in correspondence with accounts 57, 76. Account 57 is used in cases where the date of writing off the currency and the date of crediting the funds from its sale do not match. The procedure for accounting for transactions on a foreign currency sales account, as well as accounting entries, will be considered in the following example.

Many enterprises in the course of conducting economic activity one way or another encounter foreign exchange. To date, the most common currency transactions are settlements under loan agreements, as well as the implementation of currency conversion. In the article, we will consider the features of these operations and their reflection in postings using examples.

Currency transactions are transactions, the subject of which are currency values. Operations conducted by enterprises with foreign currencies are regulated legislative acts, in particular the Law on currency state regulation and control.

Most enterprises carry out current foreign exchange transactions, which include:

• receipt of foreign currency as payment under agreements with non-residents;
• obtaining loans in foreign currency;
• sale of foreign exchange earnings (mandatory and voluntary);
• conversion operations with currency (exchange of one currency for another at the current rate).

It is legally established that the organizations authorized to carry out transactions with currency are banking institutions. By making an appropriate order to the bank, the enterprise can sell the currency available on the current account, credit foreign exchange earnings, and exchange currencies. In addition, by concluding a loan agreement with the bank, the organization can receive borrowed funds in foreign currency.

Accounting for currency transactions

To account for foreign currency, enterprises use a business account. We will consider the postings for accounting for foreign exchange transactions using examples.

Getting a foreign currency loan

A loan agreement was signed between the bank and Admiral LLC, according to which the bank issues credit funds to Admiral LLC in the amount of USD 114,000. The disbursement of funds is carried out in 2 stages:

• 1st stage - 57,000 US dollars issued on 01. .2015;
• Stage 2 - 57,000 US dollars issued on 01.10.2015.

The US dollar exchange rate (conditional) is:

• as of 01. .2015 - 65.10 rubles / USD USA;
• on 30. .2015 - 66.12 rubles / USD. USA;
• as of 10/01/2015 - 66.02 rubles / USD. USA.

In the accounting of Admiral LLC, the following entries were made:

Conversion currency transactions

Rodina LLC and a non-resident company concluded a supply contract. The contract amount is 14,800 euros. To transfer the payment, Rodina LLC submits an application to the bank, according to which it is necessary to convert the amount on the account of Rodina LLC (17,000 US dollars) into euros.

The commercial cross rate on the date of the operation is 1.13 USD/EUR.

16,724 USD (14,800 EUR × 1.13 USD/EUR) was debited from the account of OOO Rodina.

Conditional exchange rate of the Central Bank:

• euro - 87.60 rubles / EUR;
• for the US dollar - 76.12 rubles / USD.

The USD/EUR cross rate according to the Central Bank is 1.15 USD/EUR (87.60 RUB/EUR: 76.12 RUB/USD).

Thus, Rodina LLC carried out the conversion of foreign currencies at a more favorable rate for itself (16,724 USD< 17 020 USD (14 800 EUR × 1,15 USD/EUR)).

The accountant of LLC "Rodina" reflected in the accounting postings on the account for currency conversion in this way.

The organization can carry out operations not only in rubles, but also in foreign currency, while observing the norms of the Federal Law of December 10, 2003 No. 173-ФЗ “On Currency Regulation and Currency Control”. And how to reflect the acquisition and purchase of currency in accounting? Let's talk about it in our material.

Buying foreign currency: postings

To account for the purchase of foreign currency, as a rule, intermediate account 57 “Transfers in transit” is used. The debit of this account includes ruble funds for the purchase of foreign currency, and the purchased foreign currency is debited from the loan. Since the currency is bought at the rate of a commercial bank, and is accounted for in accounting at the rate of the Central Bank of the Russian Federation, the resulting difference is attributed to other income (expenses) of the organization (paragraphs 4.5 PBU 3/2006, paragraph 7 PBU 9/99, p 11 PBU 10/99).

We will give an example for the purchase of posting currency.

02/02/2017 The organization purchased currency in the bank servicing it in the amount of 100,000 US dollars. The selling rate of a commercial bank on the date of purchase of the currency by the organization is 60.89 rubles / USD, the exchange rate of the Central Bank of the Russian Federation on the same date is 60.3099 rubles / USD.

If the rate of a commercial bank turns out to be lower than the rate of the Central Bank of the Russian Federation, other income will arise:

Debit of account 57 - Credit of account 91, sub-account "Other income"

Selling currency to a bank: postings

The sale of foreign currency is also reflected using account 57, while the income (expenses) will reflect the amount of gain (losses) from the sale of currency as the difference between the amount Money in rubles received from the sale of foreign currency, and the ruble valuation of this currency as of the date of the transaction (Appendix to the letter of the Ministry of Finance of Russia dated December 28, 2016 No. 07-04-09 / 78875).

Let's continue the example and assume that on 02/03/2017 the organization sold the balance of the currency in the amount of $25,000. Currency purchase rate commercial bank on the date of the sale of the currency by the organization - 58.91 rubles / USD, the exchange rate of the Central Bank of the Russian Federation on the same date - 59.9858 rubles / USD.

If, during the sale or purchase, the bank withholds an additional commission for performing exchange transactions, it is debited to account 91, sub-account "Other expenses".

Company accounting is carried out in accordance with the requirements current legislation in the field of accounting.

This legislation consists of the following legislative acts:

• Federal Law "On Accounting" No. 129-FZ dated November 21, 1996,
• other federal laws,
• Decrees of the President of the Russian Federation,
• Government Decrees,
• Orders of the Ministry of Finance (including - PBU),
• Other normative-legal documents.

• property,
• obligations,
• business transactions,

However, if an organization entrepreneurial activity with the involvement of foreign partners, the company cannot do without foreign exchange transactions.

Such an organization needs to buy and sell currency, as well as draw up transaction passports in order to comply with currency control procedures.

Operations in foreign currencies are regulated federal law from 10.12.2003 No. 173-FZ "On currency regulation and currency control».

At the same time, according to paragraph 2. Article 11 of Law 129-FZ, accounting for the organization's foreign currency accounts and operations in foreign currency is carried out in rubles on the basis of foreign currency conversion at the exchange rate Central Bank RF on the date of the transaction.

Thus, for the correct organization of accounting for foreign exchange transactions, the moment of determining the date of the transaction is very important.

It is the date of the business transaction in currency determines the foreign exchange rate, on the basis of which the company's accountant will recalculate foreign currency into Russian rubles.

This article will consider the provisions of the current legislation that determines the procedure for regulating foreign exchange settlements, as well as the current procedure for accounting for foreign exchange transactions.

PROVISIONS OF THE CURRENT LEGISLATION ON CURRENCY OPERATIONS

In accordance with paragraph 1 of Article 6 of Law No. 173-FZ, foreign exchange transactions between residents and non-residents carried out without restrictions.

At the same time, it should be noted that, in accordance with the provisions of Article 9 of Law No. 173-FZ, transactions in foreign currency are prohibited. between residents RF.

There are exceptions to this rule, a list of which is given in the same article.

Thus, in accordance with paragraph 1 of Article 9 of Law No. 173-FZ, this prohibition does not apply to foreign exchange transactions between residents and authorized banks related to:

• with the receipt and repayment of loans and borrowings, the payment of interest and penalties under the relevant agreements;
• with the deposit and receipt of residents' funds to bank accounts (bank deposits) (on demand and for a certain period);
• With bank guarantees, as well as with the fulfillment by residents of obligations under guarantee and pledge agreements;
• with the acquisition by residents of bills of exchange issued by these or other authorized banks from authorized banks, presenting them for payment, receiving payment on them, including by way of recourse, collecting penalties on them, as well as with the alienation by residents of these bills authorized banks;
• with the payment of commission to authorized banks;
• with other foreign exchange transactions related to banking operations in accordance with the legislation of the Russian Federation.

At the same time, some currency transactions between residents are still allowed (clause 6.1 of Article 12 of Law 173-FZ):

Thus, with the funds specified in paragraph 6 of Article 12, the following currency transactions are carried out between residents without restrictions:

1. Payment operations wages employees:

• diplomatic missions,
• consular offices of the Russian Federation,
• other official representative offices of the Russian Federation located outside the territory of the Russian Federation,
• permanent missions of the Russian Federation at interstate or intergovernmental organizations.

3. Operations for payment or reimbursement of expenses related to the business trip of the above employees to the territory of the country where representative offices, institutions and organizations are located and beyond its borders, with the exception of the territory of the Russian Federation.

PBU 3/2006"Accounting for assets and liabilities, the value of which is expressed in foreign currency" (approved by the Order of the Ministry of Finance dated November 27, 2006 No. 154n).

PBU 3/2006 establishes the features of the formation in accounting and financial statements information on assets and liabilities, the value of which is expressed in foreign currency, including those payable in rubles.

This PBU applies to organizations that are legal entities under the laws of the Russian Federation.

Note:The provisions of PBU 3/2006 do not apply to credit organizations and state (municipal) institutions.

PBU 3/2006 is applied by organizations in all cases, with the exception of two. This PBU does not apply:

1. When recalculating indicators of financial statements prepared in rubles into foreign currencies in cases where such recalculations are required founding documents, at the conclusion loan agreements with foreign legal entities, etc.
2. When including data from the financial statements of subsidiaries (dependent) companies located outside the Russian Federation in the consolidated financial statements compiled by the parent organization.

At the same time, if a different exchange rate is set for recalculating such an asset or liability value payable in rubles:

• law,
• by agreement of the parties,

This means that the parties to the transaction can agree and fix in the contract any exchange rate at which settlements between these parties will be made. Such a rate is commonly referred to as a "negotiated rate".

The provisions of paragraph 6 of PBU 3/2006 provide for the moment when it is necessary to recalculate the value of an asset or liability denominated in a foreign currency into rubles.

For accounting purposes, the specified conversion into rubles is made at the rate applicable on the date of the transaction in foreign currency.

According to the Appendix to PBU 3/2006, the following

LIST OF DATES OF PERFORMANCE OF INDIVIDUAL OPERATIONS IN FOREIGN CURRENCY

In addition to the above list of dates, in accordance with paragraph 3 of PBU 3/2006, the date of the transaction in foreign currency is the day the organization rights according:

• with the legislation of the Russian Federation,
• agreement,

The provisions of clause 6 of PBU 3/2006 allow:

• at insignificant change in the official exchange rate (Central Bank of the Russian Federation) of the currency against the ruble,
• when making a large number of homogeneous transactions in this currency,

At the same time, RAS 3/2006 does not provide for the procedure for determining such an average rate and the level of materiality of changes in the official rate.

Therefore, if an organization wants to use this method, the procedure for determining the average rate must be developed independently and fixed in the accounting policy for accounting purposes.

Also in the accounting policy should be fixed and the level of materiality of fluctuations in the exchange rate.

Cost recalculation:

• cash and payment documents,
• securities (excluding shares),
• funds in settlements, including - on loan obligations with legal and individuals(with the exception of funds received and issued advances and advance payment, deposits),

• on the date of the transaction in foreign currency,
• at the reporting date.

cost recalculation:

• banknotes at the cash desk of the organization,
• funds for bank accounts(deposits),

For the preparation of financial statements, the recalculation of the value of the above assets and liabilities into rubles is carried out at the exchange rate in force on the reporting date (clause 8 of PBU 3/2006).

For the preparation of financial statements cost:

• investments in non-current assets (fixed assets, intangible assets, etc.),
• inventories,
• other assets not listed in clause 7 of PBU 3/2006,
• funds advances received and paid and advance payment, deposits,

• on the date of the transaction in currency

Note:Fixed assets, intangible assets, inventories and other assets of a similar kind, as well as advances received and issued are not remeasured at the reporting date.

Assets and expenses paid by the organization:

• in advance,
• in payment for which the organization transferred an advance or deposit,

• issued advance,
• deposit,
• advance payment,

Thus, the exchange rate at which the received or issued advance payment was accepted for accounting is determined on the date of such receipt / payment.

Subsequently, upon receipt of assets or recognition of expenses of the organization, this rate does not change.

The income of the organization, subject to receipt:

• advance payment
• deposit,
• advance payment,

• received advance,
• deposit,
• advance payment,

The exchange rate when receiving income in the event of advances from buyers does not change at the time of recognition of income in terms of the received advance.

It is this approach that is provided for by the provisions of PBU 3/2006.

Indeed, in accordance with paragraph 10 of PBU 3/2006, cost recalculation:

• investments in non-current assets,
• assets listed in paragraph 9 of PBU 3/2006,
• funds received and issued advances, advance payment, deposits,

In accordance with clause 11 of PBU 3/2006, the accounting and financial statements reflect the exchange rate difference arising:

1. For operations to repay (full or partial) receivables or payables denominated in foreign currency.

The difference arises if the exchange rate on the date of payment obligations differed:

• from the exchange rate on the date of acceptance of this receivable or payable to accounting in the reporting period;

• from the exchange rate at the balance sheet date at which the receivable or accounts payable was recalculated for the last time.

In accordance with paragraph 12 of PBU 3/2006, the exchange rate difference is reflected in accounting and reporting in that reporting period:

• to which the date of fulfillment of payment obligations refers;
• for which the financial statements have been prepared.

• The exchange difference is to be credited to financial results organizations as other income or other expenses (except as provided for in clauses 14 and 19 of PBU 3/2006 or other regulatory legal acts accounting) in accordance with paragraph 13 of PBU 3/2006.

• The exchange rate difference associated with settlements with the founders on deposits, including in the authorized (reserve) capital of the organization, is subject to crediting to Extra capital this organization (clause 14 PBU 3/2006).

• The difference resulting from the recalculation of the value of the organization's assets and liabilities denominated in foreign currency used to conduct activities outside the Russian Federation is subject to crediting to the additional capital of the organization (clause 19 of PBU 3/2006).

Due to the fact that the features of accounting for foreign exchange transactions are mainly expressed in the timely conversion of currencies into rubles at the established rate, and the rest of the accounting entries do not differ from accounting in rubles, we will give examples of accounting for exchange rate differences.

In accounting, exchange differences can be reflected using the following accounting accounts:

1. Reflection of positive and negative exchange rate differences in settlements with a foreign supplier.

• Account debit
• Account credit 91.1 "Other income"

• Account debit 91.2 "Other expenses"
• Account credit 60 "Settlements with suppliers and contractors"

2. Reflection of positive and negative exchange rate differences in settlements with a foreign buyer.

• Account debit
• Account credit 91.1 "Other income"

• Account debit 91.2 "Other expenses"
• Account credit 62 "Settlements with buyers and customers"

3. Reflection of differences arising from the revaluation of liabilities on loans and credits.

• Account debit
• Account credit 91.1 "Other income"

• Account debit 91.2 "Other expenses"
• Account credit 66/67 "Settlements on short-term/long-term credits and loans"

Ekaterina Annenkova, auditor certified by the Ministry of Finance of the Russian Federation, expert in accounting and taxation of IA "Clerk.Ru"