Why is account 08 needed?
08 account is used to account for the company’s expenses on property, which will subsequently be taken into account as a fixed asset or intangible asset. In agriculture, account 08 takes into account the costs of forming a herd of productive and working livestock.
Account 08 is active. An increase in the cost of commissioning the acquired property is charged to debit. For example, when purchasing a machine, debit 08 of the account will write off not only the cost of the asset, but also the costs of delivery, installation and commissioning. When an object is accepted for accounting, its value is written off against the loan.
The procedure for using account 08 is fixed in PBU 6/01 and PBU 17/20.
general description
Account 08 “Investments in non-current assets” is necessary to collect “information” about the costs of creating a fixed asset.
I listed the criteria by which we identify that we will create a fixed asset object on account 01 “Fixed Assets”. The creation of a fixed asset such as a building or a road can begin with the first bag of cement and end with the door handle on the director's door. The creation process can take a long period of time, and this accounting account is used to collect all the costs of creating an operating system.
After all investments are completed, it is necessary to convert capital investments into fixed assets. The sum of all costs collected on account 08 will be precisely the “initial” cost of the fixed asset.
Summary of account 08: (see all bookmarks)
— on the account we collect “information” about the expenses incurred on the OS being created or purchased.
— postings in 1C 8.2 for account 08 are mainly formed by two documents: document “Receipt of goods and services” document “Acceptance of fixed assets for accounting” .
- if you build the SALT according to the account, you will see all the OS that were received into ownership, but for some reason were NOT put into operation.
What is an investment in non-current assets?
Investments are expenses of a company that are necessary to create or obtain fixed assets or intangible assets.
Costs on account 08 do not participate in the formation of the financial result in the period in which they are taken into account. Expenses incurred are usually attributed to the cost of land, acquired or constructed real estate, natural objects, and farm animals.
In the future, these costs are written off as expenses through depreciation of fixed assets and intangible assets.
For example, a company bought premises for 10,000,000 rubles in 2020. You cannot accept the entire amount as expenses. When the company puts the facility into operation, it will write off acquisition costs from credit 08 to debit 01, and then it will begin to depreciate this property. Let's say the useful life is 25 years. Then the annual expenses will include:
10,000,000 rub. / 25 years = 400,000 rubles.
That is, 400,000 rubles will be written off as expenses annually.
Tax deduction for VAT on fixed assets
As a rule, the price of the purchased fixed asset includes VAT. It is accepted for deduction only if this object will be used for the production of goods (work, services), the sale of which is subject to VAT (clause 2 of Article 171 of the Tax Code of the Russian Federation) in the presence of an invoice (clause 1 of Article 172 of the Tax Code) RF), issued in accordance with the requirements of Article 169 of the Tax Code of the Russian Federation.
Exceptions when VAT paid on the acquisition of fixed assets must be taken into account in their cost are specified in paragraph 2 of Art. 170 Tax Code of the Russian Federation. This happens in cases where the fixed asset is not used in activities subject to VAT, namely when it is acquired:
– for use in activities not subject to taxation (exempt from taxation);
– persons who are not VAT payers or are exempt from fulfilling taxpayer obligations for the calculation and payment of tax;
