Accounting for finished products: accounting purposes, methods, cost, documentation

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Finished products are such products, as well as semi-finished products, that are accepted into the warehouse of an organization or enterprise. They are processed and meet the necessary requirements and specifications. Also, when shipping products, a check must be performed, which indicates the number of goods, their condition. This is the accounting of products. Let's take a closer look at this process.

Characteristic

Finished products must meet the requirements of GOST and pass quality control. It is also sent to a warehouse for storage. Inventories can be of the following types:

1. Gross output. The one issued by the company for a certain period of time.
2. Comparable. These are previously manufactured products at a particular facility.
3. Incomparable. These are products that are manufactured for the first time. After they are packaged, they must go to the warehouse. The employee is responsible for the safety of the product, who bears the materialresponsibility.

When production stocks are transferred to the warehouse, the employee must record this fact. This can be done by dividing products into different product categories. Card and non-card method of accounting can be applied. Inventory balances are checked regularly through inventory.

Goals of product accounting

The main purpose of accounting for products is to reflect on the accounting control account information about the shipment of production products to various companies and firms. You can also highlight others:

• relevant and high-quality processing of documentation for the release of finished products;
• monitoring goods in places where they are stored.

Methods of Accounting

Products that have been processed can be controlled in several ways:

• given the actual cost of finished products;
• at discount price using invoices;
• on direct cost provisions.

Actual cost

If a certain company assumes responsibility for maintaining documentation of goods that are based on cost, then control will only be carried out using special account 43 "Product Accounting".

When an item is shipped to a manufactured inventory warehouse, the transaction is recorded as a debit and a credit. This means that the products are taken into account.

Incomplete cost

Reduced accounting depends on direct costs. It does not take into account business and production costs. That is, accounting for products is to control the costs associated with the sale of goods. The rest of the expenditure is not taken into account.

Scheduled accounting

Regulatory control of products is used to evaluate stock items.

To organize an effective process of reflection in the turnover of goods, it must be based on the determination of the cost for each item.

This method of calculation consists in introducing a separate accounting for the production of finished products at cost, which will differ from the standard and planned. Deviations must be taken into account in relation to the nomenclature. In this case, derogations may be allowed for certain groups of goods.

Therefore, variances and planned cost help in determining production accounting. The advantage of this method is that there is a single valuation system for cost planning. It is appropriate to use this option in the framework of large-scale production, where there is a large range of finished products.

Negotiated price

This price depends on its agreement with the customer, at which the sale of products is carried out. It turns out that its size can affect the speed of sales. After all, if the cost is high, then problems may arise in the sale of products. Here it is necessary to find a compromise and set a price that will be beneficial for all participants in the contractual relationship. Such a stagethe transaction is considered very important, since in the absence of agreement on the conditions, the products cannot be sold, and the parties will suffer losses. The scope of contractual product valuation is similar to the previous options.

Requirements

Finished products, which are already prepared for sale, must be given to be stored in a warehouse. In this case, the controlling person has material responsibility. If the goods have large-sized characteristics and cannot be delivered to the warehouse due to certain circumstances, then it is accepted by the customer. To do this, he takes the products from the place of their manufacture.

Products must always be correctly indicated in the documents and have invoices, acceptance certificates. When it arrived at the warehouse, a ledger is started.

Track and control it with cost metrics. In practice, with this type of indicators, disputable situations may arise that require the use of various calculation methods.

When it is necessary to form prices for items, it is important to ensure the correct ratio for calculating the money spent by the manufacturing organization. It turns out that several product groups with the same actual cost should have a similar accounting estimate.

Such actions must be performed in order to correctly distribute position deviations.

If the reflected cost of deviations and the planned cost are reflected for positions, then the sales prices of products should not be taken asaccounting. Such actions will not be entirely correct, because the ratio of the price of goods sold sometimes does not correspond to its cost. It turns out that the goods have the same monetary indicators, and the funds spent on its manufacture may be different.

Accounting for raw materials

The raw materials of finished products are necessary for the manufacturing process of industrial products. It must be checked with the help of technological control before it is allowed for further implementation. But a certain organization itself must buy raw materials from the contractor. Also, employees evaluate goods based on the average cost value.

The production manager is usually responsible for the safety of the finished product, as well as the use of raw materials. An agreement must be concluded with persons incurring material obligations. Finished products can be sent to cafes, buffets, canteens for their subsequent sale. In order to be able to deliver the goods, the accountant must draw up a special document. It must be prepared in duplicate. Each document must be numbered. It is under it that the products will be recorded in the magazine. A citizen who is financially responsible for the products must sign it. Further, the report sheet is signed by the head. Only after such actions can be shipped production stocks.

Documentation

In the documents for products, the book value and the selling price must be indicated. What matters is that it should beprovided for each item. Products that do not have time to sell come back to the production of finished products. This usually happens at the end of the working day.

When the process of distribution of products is not separated from the production stage, then in this case, reporting documentation is not issued. Only a log is kept to control these stages. It promptly registers all products that are transferred from production. The sale of goods is usually carried out by distribution and for cash.

Accounting automation

Before there is an automated accounting and release of finished products, an analysis is carried out. Thanks to this, you can make changes to the maintenance of accounting accounts. It is also necessary to determine the scope of automation. After that, it will become clear how much information can be processed. You need to decide on the order of moving it to the computer. The process of processing documents is very important, especially when it comes to a large enterprise. Typically, such production has a large staff of accountants. It may consist of fifteen employees whose duties include the maintenance of official papers and their processing. But it is necessary to make the transition regarding the automation of workflow gradually. If you start processing all the data at once, the process will stop and there will be no results. First of all, this task consists in accounting for products with the creation of various specifications for goods.

Accounting for the price of goods

When accounting is important planning anddetermining the demand for raw materials. When calculating, it is necessary to take into account not only natural indicators, but also price ones. It is very important to control the production in accordance with all requirements, as the admission of errors can adversely affect the results of work. Finished products that have a margin must be subject to inspection. The total cost is specified according to the information based on the inventory. The size of the discount can be determined from the ratio of the amount or markup on the goods in the balance, which may appear at the beginning of the month. Accounting analysis should display in detail all indicators, as well as the price difference, of goods that were shipped or remained at the enterprise.

Product Inventory

Inventory is carried out after the organization's finished products pass all stages of technical verification. Only after this process is the count of goods that are in stock or spoiled. It also checks the relevance and reliability of information on the products that were shipped. It turns out that the main task of this type of accounting is to verify the accuracy of the information. That is, the quantity and condition of the goods must be reflected in the documentation. The important thing is that there shouldn't be a difference. What is indicated in the documents must be present in the warehouse. If there are errors and inaccuracies, you need to perform the calculations again.

Order and timing

Inventory check is carried out once or twice a year, and can also be carried out at the request of thethe head of a particular enterprise.

A special commission is appointed for this purpose. It usually consists of: accounting staff, engineers, economists. If one of the participants in such an event is absent, then the accounting results may be invalidated.

Before the start of the check, documents are studied, and during the control, a report is drawn up based on the data received. The information needs to match. The information received is recorded in special acts. At the same time, it is forbidden to leave blank lines when filling out documents. The information must be complete. It is also necessary to put a signature on each sheet of documentation. If all the information is accurate and there are no complaints against the members of the controlling staff, then a receipt is issued. It indicates information that in case of dubious actions, persons bear financial responsibility. To clarify the number of goods, they can be outweighed. Finished wiring products that turn out to be damaged are perceived as production costs. In case of revealing unjustified losses, the guilty person will be liable in the form of paying a fine.

Thus, properly accounting for finished products is a very important task. Such actions affect the performance of a particular production. Therefore, it is necessary to accurately indicate all the data that are aimed at ensuring that the production process is not disturbed. Proper documentation requires special education.

This material will help you understand andunderstand what accounting for goods is and what sequence of actions is used in the implementation of product control. Sometimes it can be difficult to understand the various terms and conventions. Therefore, in this article, the basic principles were considered with the help of which goods are checked. As well as accounting for their condition and monitoring the safety in the warehouse of the finished products of the enterprise.