51 account. Account 51. Debit 51 accounts

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

Any economic activity of an organization is impossible without the movement of financial flows. Cash is involved in all processes occurring at enterprises of any form of ownership. The purchase of working capital, investing in fixed production assets, settlements with budgets of different levels, founders, employees of the enterprise - all production and administrative actions are performed with the help of money and in order to receive it.

Types of settlements

In practice, two main types of payments are used - cash and non-cash. Cash, as a rule, is used for small amounts of cash flow - these are lump-sum payments that can be made through the company's cash desk. For small businesses with low turnover and modest incomes, using cash is the best option. Large companies are more likely to adopt a cashless system; as shown by the resultsuse, it is much more efficient, faster and cheaper than working with large amounts of cash. Therefore, today 98% of all payments are made through the banking system, on a non-cash basis.

Reflection of the cashless system in accounting

For analysis, planning, accounting, transfer of non-cash, the enterprise opens a synthetic, balance sheet account 51. It is active, which means that incoming funds are reflected in debit, the expenditure of financial resources is in credit. 51 accounts were created to account for the most mobile of the company's assets - non-cash funds. In the balance sheet, it is reflected in a generalized form, the balance (balance) is determined daily for the operational management of finances. Analytical accounting is maintained for each item of income and expense separately. An organization can simultaneously open the required number of accounts in one or more credit institutions. Regardless of their number, all information on the movement of non-cash is summarized and posted to 51 accounts. The balance (balance) is formed according to the formula: balance at the beginning + turnover on the debit of the account - turnover on the loan. The result obtained is the sum of available (currently) funds. It is credited to 51 accounts as the opening debit balance for the next period.

Types of cashless payments

All settlement and payment transactions are carried out by the bank with which the organization has entered into an agreement on account maintenance. The basis for making withdrawals or transfers of funds isa written notification of the owner, which is checked by bank employees for compliance with legal norms and unified forms. The organization-owner of the funds chooses the form of non-cash payment on its own, based on the contractual obligations of specific counterparties. Most often, the paying company, using the appropriate document, gives the bank an order to withdraw (write off, transfer) non-cash funds from the account in favor of the specified counterparty. Unconditional write-offs are used less often, confirmation of which is not required from the asset owner. Cash withdrawals for own needs are made by the organization using checks. Bank account holders receive the required limit of checks on the basis of an application. Sheets of the checkbook filled in and certified with the appropriate signatures and seals can also be used for settlements of the enterprise-owner of the account with contractor organizations, suppliers, etc. In this case, the check is issued to the organization or individual (its representative) and cashed upon presentation to the bank payer.

Document flow on current account

51 the account is maintained on the basis of a bank statement. Documents are mandatory attached to it, which serve as an order for the movement of funds on a specific account of the enterprise. All write-offs, transfers that the owner of the assets made during the period of the statement are confirmed by a copy of the outgoing payment order or demand. The check stub serves as a justification for withdrawing cash. Enrollment of applicantsamounts from the owner enterprise (delivery of part of the proceeds in cash) is fixed by a bank order. Funds received from buyers and other debtors, within the framework of contractual obligations, are confirmed by a copy of the incoming payment order of the paying organization. All documents for the movement of non-cash money are drawn up in strict accordance with the unified forms and requirements of the bank, certified by the signatures of authorized persons and the seal of the organization.

Debit

Debit 51 accounts is a reflection of the receipt of funds. Enrollment comes from the following sources:

• Cash office of the enterprise (D 51, K 50) - this entry is made when cash is credited to the current account from the cash desk.
• Settlements with counterparties (D 51, K 62/60/76) - the account is credited with the amount from buyers, other debtors, from suppliers (return of advance payment, excessively transferred funds, settlements on claims).
• Credits, loans, loans (D 51, K 66) - the operation is carried out in case of receipt of received borrowed funds to the current account.
• When settling with shareholders, owners (D 51, K 75) - the funds of the founders were contributed (as working capital or with an increase in the authorized capital).
• Settlements with budgets and extra-budgetary organizations (D 51, K 68, 69) - overpaid taxes or amounts of social support for the population (benefits, sick leave, etc.) are listed.

The debit turnover is summed up for the reporting time period and is a generalized indicator of incomefunds to the bank account of the company. A balance sheet or account analysis is used to analyze receipts by item.

Loan movement

The credit of account 51 is formed from write-offs (expenses) of non-cash funds of the enterprise. The loan turnover shows the total amount of transfers, write-offs and cash withdrawals deposited in account 51. The loan entries are as follows:

• Cash withdrawal (D 50, K 51) - funds received at the cash desk of the enterprise are withdrawn from the current account (cashing out occurs in a limited manner, indicating the expense item). Most often, organizations use part of the funds to pay salaries or for household needs.
• Movement of non-cash (D 51/55, K 51) - this correspondence is carried out when transferring part of the funds to another account or to opening special letters of credit intended for settlements with counterparties.
• Payment to suppliers, contractors and other creditors (D 60/62/76, K 51) - transfer of the amount of assets from the current account to counterparties (for goods and services, product returns, etc.).
• Calculations on loans, loans and credits (D 66, K 51) - interest for the use of borrowed funds is transferred or debts on loans are repaid.
• Fulfillment of obligations to budgets of various levels and extra-budgetary funds (D 68/69, K 51) - depending on the tax or fund, the corresponding sub-accounts are indicated in the correspondence.
• Salary (D 70, K 51) - salary transferredemployees.
• Settlements with founders (D 75, K 51) - according to the results of activities, payments were made to the founders.