How to register and record the receipt of property as collateral

Pledge means the relationship between the pledgee (aka lender, creditor) and the pledgor (aka debtor, principal, defaulter), in which the lender has the right, if the debtor fails to fulfill his debt obligations, to receive satisfaction from the price of the pledged property (Civil Code of the Russian Federation, Art. 329 and 334). In this article we will tell you how the accounting of collateral is carried out, what nuances an accountant needs to know when making entries.

The specified method is used to guarantee the fulfillment of obligations when providing loans and borrowings. This is an accessory additional obligation in relation to the main one. The lender (principal) can be any citizen or legal entity. When dealing with borrowed funds, the accounting service should adhere to the standards and requirements established by PBU 15/01 and 19/02.

Subject of collateral

The subject of the pledge can be things (including securities), property rights, land plots, enterprises, buildings, structures, apartments (Clause 4 of Article 334, Clause 1 of Article 336, Articles 128, 357, 358.1, 358.9, 358.15 , 358.16, 358.18 Civil Code of the Russian Federation).

You cannot pledge:

• property that cannot be recovered. Such property includes, for example, some types of firearms (Article 6 of the Law of December 13, 1996 No. 150-FZ), pesticides and agrochemicals (Article 3 of the Law of July 19, 1997 No. 109-FZ), narcotic and psychotropic substances in accordance with the list approved by Decree of the Government of the Russian Federation of June 30, 1998 No. 681, leaded motor gasoline (Article 1 of the Law of March 22, 2003 No. 34-FZ);

• requirements inextricably linked with the identity of the creditor of the mortgagor. These include claims for alimony, compensation for harm caused to life and health (other rights, the assignment of which to another person is prohibited by law).

This is stated in paragraph 1 of Article 336 of the Civil Code of the Russian Federation.

At the same time, the pledge of certain types of property may be limited or prohibited by law. For example, these could be:

• especially valuable objects of cultural heritage (clause 6 of the Regulations approved by Decree of the President of the Russian Federation of November 30, 1992 No. 1487);

• subsoil plots (Article 1.2 of the Law of February 21, 1992 No. 2395-1);

• water bodies (Article 22 of the Water Code of the Russian Federation).

To learn whether money can be the subject of collateral, see How to register and record the transfer of property as collateral.

The subject of the pledge must belong to the organization by right of ownership, or the organization must be properly authorized to dispose of such a subject (Clause 2 of Article 335 of the Civil Code of the Russian Federation). Pledge of someone else's property is allowed only with the consent of its owner or copyright holder (Article 335 of the Civil Code of the Russian Federation).

Features of the concept of returnable packaging

Returnable (reusable) packaging is a mandatory element of packaging, the availability of which is guaranteed by the supply agreement. It can be returned to the manufacturer undamaged and reused without compromising the quality of the product packaging. Examples of returnable packaging include glass jars and bottles, fabric bags, boxes, containers, etc.

According to Art. 481 of the Civil Code of the Russian Federation, for some types of goods delivery in containers is mandatory. Violation of this clause may become the basis for recognizing the product as being of low quality, which may cause claims from the buyer or even the return of the product.

The container is recognized as returnable in the text of the purchase and sale agreement (clause 3 of Article 254 of the Tax Code of the Russian Federation). This means that it must be returned to the supplier in its original condition, unless the parties agree otherwise (Article 517 of the Civil Code of the Russian Federation). The seller takes a deposit from the buyer for returnable packaging, and after delivery it returns the deposit.

Pledge agreement

The pledge agreement must be drawn up in writing. This agreement should indicate the subject of the pledge, its value, the size and deadline for fulfilling the obligation secured by the pledge. The agreement may stipulate the procedure for the sale of the pledged property. In some cases provided by law, the pledge agreement must be registered. In particular, this applies to agreements on the pledge of real estate (mortgage), on the pledge of a share in the authorized capital of an LLC. Notarization of a pledge agreement is mandatory only if the pledge is issued to secure obligations under the agreement, which itself is subject to notarization.

This procedure is established in Articles 339, 339.1 of the Civil Code of the Russian Federation.

Postings for returnable packaging

Returnable (reusable) packaging is used in circulation many times and must be returned to the supplier, unless the contract provides for other conditions.
The contract may also provide for the collection of a deposit by the supplier from the buyer as a guarantee of the return of the container within a specified period and in an undamaged condition. Containers are accepted on the basis of invoices or other accompanying documents. If the actual quantity of containers and its quality characteristics do not correspond to the documents, then the discrepancies are documented in a document.

Use of collateral

The pledged property remains with the organization, unless otherwise provided by civil legislation or an agreement (clause 1 of Article 338 of the Civil Code of the Russian Federation). Moreover, the property on which the mortgage is established, as well as goods in circulation, remain with the organization in any case (Article 357 of the Civil Code of the Russian Federation, paragraph 1 of Article 1 of the Law of July 16, 1998 No. 102-FZ).

If the collateral remains with the organization, then it has the right to use it (including for the purpose of generating income), unless otherwise specified in the collateral agreement. If the pledged item is transferred to the pledgee, he has the right to use it only in cases provided for by the agreement. At the same time, he is obliged to regularly submit to the pledgor a report on the use of the pledged property.

This procedure is established in Article 346 of the Civil Code of the Russian Federation.

This rule does not apply to pawn shops. They, as pledge holders, do not have the right to use the subject of pledge at all (clause 3 of Article 358 of the Civil Code of the Russian Federation).

The pledgee organization is obliged to insure the pledged property if it is transferred directly to it (does not remain with the pledgor). However, this should be done at the expense of the mortgagor (or at one’s own expense, but with subsequent reimbursement of expenses incurred by the mortgagor), unless otherwise provided in the agreement (law).

This follows from paragraph 1 of Article 343 of the Civil Code of the Russian Federation.

For more information about accounting for property insurance costs, see How to record property insurance costs.

If the pledged item is in the possession of the pledgee, then upon proper fulfillment of the obligation secured by the pledge, he is obliged to return the pledged property to the pledgor (Clause 2 of Article 352 of the Civil Code of the Russian Federation).

No price? Come at market price

If the cost of reusable non-returnable packaging is included in the cost of the property received in it and is not indicated in the receipt documents, and you intend to use this container in the future (for example, to sell separately from the received goods), then the cost of the container must be separated from the cost of the acquired property. 3 tbsp. 254 Tax Code of the Russian Federation. In this case, the container is accounted for at market value, and the acquired property is taken into account at its cost reduced by the cost of the container.

You determine the market value of the container yourself on the date it was accepted for accounting. A guideline can be suppliers' prices for a similar type of container (you can get information on prices from the Internet) para. 2 clause 9 PBU 5/01. You record the market value in a report drawn up by the inventory commission and attach supporting documents to it. Here is an example of filling out such an act.

I APPROVED

"28" April 2014

Act on the receipt of packaging No. 18 dated April 28, 2014.

This act was drawn up by the commission in connection with the posting of packaging received on the supplier’s account without a price: delivery note No. 10/171 dated 04/25/2014, invoice 1136 dated 04/21/2014.

Failure to fulfill an obligation secured by a pledge

If an obligation secured by a pledge is not fulfilled, the pledgee's claims are usually satisfied by a court decision. However, in the contract (additional agreement to it), the parties may provide for the recovery of the pledged property out of court.

If the obligation secured by the pledge is not fulfilled (performed improperly), the pledge holder, using extrajudicial procedures, has the right to sell the pledged property to a third party at its market value. This can be done through bidding, under a commission agreement, or other methods established in the pledge agreement (when foreclosure on real estate, bidding is mandatory). In addition, the agreement (additional agreement to it) may provide for the direct transfer of the pledged item into the ownership of the pledgee.

This follows from paragraph 1 of Article 334 and Articles 349–350.2 of the Civil Code of the Russian Federation.

If the sale of property took place through auctions, but they did not take place (they were declared invalid), then the organization has the right to purchase the pledged property from the mortgagor (by agreement with him). In this case, the value of the pledged property must be counted towards the fulfillment of the pledgee’s claims.

If the repurchase of the pledged property is refused, re-auctions are held. If they did not take place (they were declared failed), the pledge holder has the right to keep the subject of the pledge for himself. At the same time, he can evaluate it below the initial price at repeated auctions, but by no more than 10 percent of this value.

This procedure is provided for in Article 350.2 of the Civil Code of the Russian Federation.

If the proceeds are not enough to satisfy the requirements of the pledgee, then he has the right to cover the difference from the other property of the pledgor. To do this, the mortgagee must go to court. However, this can only be done if the contract or legislation does not provide for another procedure for collecting the lost amount. This follows from paragraph 3 of Article 334 of the Civil Code of the Russian Federation.

If the proceeds from the sale of the pledged property exceed the pledgee’s requirement, then he is obliged to return the difference to the pledgor (Clause 2 of Article 350.1 of the Civil Code of the Russian Federation).

The pledgee has the right to foreclose on the pledged property only in the event of non-fulfillment or improper fulfillment by the debtor of the obligation secured by the pledge. The exceptions are:

• cases provided for by contract or law (for example, according to Article 14 of the Law of December 30, 2004 No. 214-FZ, in case of failure to fulfill obligations under agreements for shared construction of apartment buildings, foreclosure on the subject of pledge can be made no earlier than six months after the deadline for delivery by the developer finished object);

• minor violations committed by the mortgagor in the performance of obligations (delay of less than three months), if the organization’s claim is significantly less than the value of the pledged property (the amount of the unfulfilled obligation is less than 5 percent of the contractual valuation of the collateral).

If the obligation is fulfilled by periodic payments, foreclosure is possible only if there is a systematic violation of the deadlines for fulfilling the obligation (if within 12 months the payment deadlines were violated more than three times).

This procedure is provided for in Article 348 of the Civil Code of the Russian Federation.

The pledge secures the organization's claim to the extent that it exists at the time of its satisfaction. That is, the creditor organization, at the expense of the collateral, repays not only the amount of the principal debt on the obligation, but also additional claims related to the delay or failure to fulfill the obligation. In particular, the following sanctions may be included in the scope of the requirement for the pledgor:

• interest;

• penalty;

• compensation for losses caused by delay in fulfilling obligations;

• reimbursement of the necessary expenses of the organization for the maintenance of the pledged item and for the collection of property.

This is stated in Article 337 of the Civil Code of the Russian Federation.

In what form are they produced?

A security of this type is a document, therefore the form of expression of a bond is called documentary. It is on the sheet that information about the details that make identification possible is provided, and it also contains the seal of the enterprise issuing the paper. For the bondholder, this document confirms only the option of receiving material remuneration, but does not give any rights to intangible ones, for example, the opportunity to influence the activities of the company issuing the securities.

Bonds can be issued in various forms

The form of the document is free; the only requirement is that the medium be permitted by the legislation of the Russian Federation. The most popular option is a paper sheet, and bonds are put into circulation after state registration. If the paper is not intended for the market, then it is enough to indicate the identification number on it.

Bonds have a price that allows their owners to determine what costs they will incur and how the income compares with them. Initially, each document is assigned a nominal price indicated on paper, and after entering the secondary market, it may change, since the exchange rate is involved.

Accounting

In the accounting of the pledgee, the amount of the received pledge is not recognized as income, since the economic benefits of the organization do not increase (clauses 2 and 3 of PBU 9/99).

Since a pledge is a way to ensure the fulfillment of obligations under a contract, property received as pledge must be reflected off the balance sheet in the valuation provided for in the pledge agreement. To do this, use account 008 “Securities for obligations and payments received.”

When receiving property as collateral, make a note:

Debit 008 – reflects the contractual value of the property received as collateral.

When fulfilling the obligation and, accordingly, when terminating the pledge, make an entry:

Loan 008 – the amount of collateral received under the collateral agreement is written off.

If the obligation secured by the pledge is not fulfilled (performed improperly), the pledged property can be sold at auction (to a third party), sold to the pledgee or transferred into his ownership.

When selling pledged property at auction, make the following entries:

Debit 51 Credit 76 subaccount “Settlements with the auction organizer” - funds received from the sale of the collateral at the auction;

Debit 76 subaccount “Settlements with the auction organizer” Credit 62 (58, 76) - reflects the repayment of the mortgagor’s debt from the proceeds from the sale of the collateral.

If the pledged property is sold at a price exceeding the pledgee's demand, the pledgee is obliged to return the difference to the pledgor. In this case, you need to make the following entries:

Debit 51 Credit 76 subaccount “Settlements with the auction organizer” - funds received from the sale of the collateral at the auction;

Debit 76 subaccount “Settlements with the auction organizer” Credit 62 (58, 76) – reflects the repayment of the mortgagor’s debt from the proceeds from the sale of the collateral (within the limits of the debt);

Debit 76 subaccount “Settlements with the auction organizer” Credit 76 subaccount “Settlements with the pledgor” - reflects the obligation to the pledgor from the proceeds from the sale of the pledged item, exceeding his debt;

Debit 76 subaccount “Settlements with the mortgagor” Credit 51 – the funds remaining after repayment of the debt were transferred to the mortgagor.

If the pledged property became the property of the pledgee without holding an auction, then, depending on the category of property, its value is reflected either as part of non-current assets or as part of current assets. Reflect these operations like this:

Debit 76 subaccount “Settlements with the mortgagor” Credit 62 (58, 76) – reflects the offset of the value of the collateral property to repay the obligation secured by the collateral;

Debit 08 (10, 41...) Credit 76 subaccount “Settlements with the mortgagor” - reflects the receipt of property, the ownership of which has been transferred to repay the obligation secured by the pledge.

An agreement with a counterparty may provide for sanctions for failure to fulfill its obligations. Such sanctions must be included in income on the date of their recognition or on the day the court decision enters into legal force (clause 16 of PBU 9/99).

When presenting a claim to the pledgor for the amount of a fine (penalty, interest) for delay in fulfilling an obligation, make an entry:

Debit 76 subaccount “Settlements with the mortgagor under sanctions” Credit 91-1 – a fine (penalty, interest) was accrued for late fulfillment of the obligation.

Repayment of penalties using funds received from the sale of the collateral is reflected in the following posting:

Debit 62 (58, 76) Credit 76 subaccount “Settlements with the mortgagor under sanctions” - reflects the repayment of the mortgagor’s debt in the amount of penalties.

Accounting for pledge of property and securities

The owner of the property in any case until it is sold at public auction is the principal. The collateral property is listed in the same accounts of the principal as before, but its accounting is carried out autonomously, and analytical accounting records that the property is collateral.

In accounting, the lender and the defaulter use the following accounts:

• off-balance sheet 008 “Guaranteeing obligations, payments acquired” - general information about the progress of acquired guarantees (for the lender);
• off-balance sheet 009 “Guaranteeing obligations, payments issued” - general information about the movement of issued guarantees (for the principal);
• 60 “Settlements with the defaulter” - obtaining ownership of the pledged item by the lender;
• 91 “Other expenses and profits” - for withdrawal.

BASIC: mortgaged property insurance

Situation: can the pledgee organization take into account the costs of insuring property received as collateral when calculating income tax?

No, he can not.

As a general rule, the pledged property must be insured at the expense of the mortgagor. The insured can be either the pledge holder or the pledgor: it all depends on who has the collateral. Such insurance will be mandatory for the pledgor. In this case, the parties have the right to agree on another procedure for insuring the pledged property. For example, at the expense of the mortgagee. But for the mortgagee, insurance will be voluntary - the law does not require this.

This follows from the provisions of paragraph 1 of Article 343 and paragraph 2 of Article 927 of the Civil Code of the Russian Federation.

The list of expenses for voluntary insurance that can be taken into account when calculating income tax is closed (clause 1 of Article 263 of the Tax Code of the Russian Federation). The mortgagee's costs for voluntary insurance of property received as collateral are not directly indicated in it.

The provisions of subparagraphs 7 and 10 of paragraph 1 of Article 263 of the Tax Code of the Russian Federation cannot be used. According to these standards, you can take into account the costs of voluntary insurance of property that serves to generate income or on which the conduct of business depends.

The pledged property can only be used to generate income in the interests of the pledgor (Clause 5 of Article 346 of the Civil Code of the Russian Federation). Also, the insurance clause cannot prevent the mortgagee from conducting its business. The ability to lend to other organizations is not limited in any way, and collateral is just one way to secure such investments. Consequently, voluntary insurance of collateral property will not be a mandatory condition for the lender to conduct business (letter of the Ministry of Finance of Russia dated June 3, 2010 No. 03-03-06/2/111).

Thus, when calculating income tax, the pledgee organization does not have the right to take into account the costs of insuring the property received as collateral.

What is container

Containers are the main element of the packaging complex for goods, designed to preserve commercial quality during movement, storage and sale of products.

REFERENCE! The Italian word "tara" comes from the Arabic "tarha", which means "something thrown away."

The terms “container” and “packaging” do not duplicate each other, despite the fact that the Guidelines for accounting of inventories, approved by Order of the Ministry of Finance of Russia dated December 28, 2001 No. 119n, call containers “outer packaging.” GOST 17527-2003 “Packaging: terms and definitions” directly calls not to consider them synonymous.

According to legislative clarifications, containers differ from packaging in that without containers, products in principle cannot be sold, while packaging only facilitates this process and makes it more convenient.

FOR EXAMPLE. The washing machine can theoretically be delivered to the store and to the consumer without any additional work with it. However, since it is expensive, and the appearance of the product may be damaged during transportation, the body and its elements are protected with a cardboard box, foam pads, and plastic film. All this is packaging.

Lemonade cannot be sold without some kind of container in which it is placed when bottling. A plastic or glass bottle will be a container, and a film in which 6 bottles or a box are packed at once will be a package.

BASIC: return of deposit

Upon proper performance of the obligation secured by the pledge, the pledge is terminated. If the pledged property was in the possession of the pledgee, he is obliged to return it to the pledgor (Clause 2 of Article 352 of the Civil Code of the Russian Federation). This operation does not lead to a decrease in the economic benefits of the pledge holder, therefore, when calculating income tax, the return of the pledge is not recognized as an expense (clause 1 of Article 252 of the Tax Code of the Russian Federation).

An example of how transactions related to the receipt of collateral are reflected in accounting and taxation. The pledgor fulfilled the obligations under the agreement secured by the pledge. The pledged property was returned to the pledgor

On October 1, Torgovaya LLC, secured by property, provided Alpha LLC with a loan in the amount of 1,000,000 rubles. for a period of three months. The monthly fee for using the loan is 1 percent of the amount issued. The subject of the pledge is materials whose book value is RUB 1,200,000. In the pledge agreement, the parties valued the materials at RUB 1,100,000. The collateral remains with Alpha. Alpha pays interest on the loan agreement monthly.

The loan was repaid on December 31. On the same day, the pledge agreement expired.

To reflect transactions related to the provision of an interest-bearing loan secured by property, the Hermes accountant opened a subaccount “Settlements with the borrower” to account 76 “Settlements with various debtors and creditors”. The following entries were made in accounting.

October 1:

Debit 58-3 Credit 51 – 1,000,000 rub. – a loan was issued to Alfa;

Debit 008 – RUB 1,100,000. – reflects the contractual value of materials received as collateral.

Monthly during the term of the loan agreement (on the last day of the month):

Debit 76 subaccount “Settlements with the borrower” Credit 91-1 – 10,000 rubles. (RUB 1,000,000 × 1%) – interest accrued on the loan provided;

Debit 51 Credit 76 subaccount “Settlements with the borrower” – 10,000 rubles. – interest on the loan has been received.

31th of December:

Debit 51 Credit 58-3 – 1,000,000 rub. – the debtor has returned the loan amount;

Loan 008 – 1,100,000 rub. – the amount of collateral received is written off.

Reflection of transactions with returnable packaging in accounting

The supplier records returnable containers used for the sale of goods in account 41 of the subaccount “Containers under goods and empty.” An exception is special packaging related to fixed assets and accounted for on account 01 with a monthly depreciation write-off.

The buyer records returnable packaging using off-balance sheet account 002 “Inventory and materials accepted for safekeeping”, unless the contract provides for additional payment for packaging.

If a deposit is paid for returnable packaging, based on the requirements of the contract, then the movement on it is recorded on balance sheet accounts. In particular, the movement of returnable containers in which goods were received for resale is taken into account in account 41 of the “Containers” subaccount. Transactions on returnable packaging in which goods are delivered for on-farm use are recorded on account 10 of the “Container” subconto.

For more information about reflecting accounting transactions using account 10 “Materials,” read the article “Accounting entries for accounting for materials.”

Delo Vkusa LLC entered into three agreements with the supplier company Willy Brand LLC:

Contract No. 1 for the supply of juices. The product is intended for resale by the buyer. Plastic boxes in which juices are supplied are provided to the buyer on a return basis and without additional charge. In case of non-return of the container, the buyer reimburses its cost - 1,000 rubles.

Agreement No. 2 for the supply of whey drinks. The product is intended for resale by the buyer. Special containers in which whey drinks are supplied are provided to the buyer on a return basis with an additional fee of 5,000 rubles, which is returned to the buyer upon return of the provided containers.

Agreement No. 3 for the supply of water in reusable plastic bottles. The product is intended for internal use by the buyer. Plastic water bottles are provided to the buyer on a returnable basis with an additional deposit of 3,000 rubles.

Postings for accounting for returnable packaging when fulfilling obligations under the contract:

Operations

LLC "Vill Brand" (supplier)

BASIC: fulfillment of obligation at the expense of collateral

If the pledgor has not fulfilled the obligations secured by the pledge, the pledgee has the right to sell the pledged property. Since until the sale of the pledged property the pledgor remains its owner, income from the sale of the pledged property arises from him (Article 249 of the Tax Code of the Russian Federation). The mortgagee will not have such income.

The amount of costs associated with the sale of the pledged property should be included in other expenses (subclause 31, clause 1, article 264 of the Tax Code of the Russian Federation). Moreover, such expenses must comply with the criteria of Article 252 of the Tax Code of the Russian Federation. The amount received as reimbursement of expenses for the sale of the pledged item from the pledgor must be included in non-operating income (Article 250 of the Tax Code of the Russian Federation).

When selling a pledged item, due to non-fulfillment of the obligation secured by the pledge, the pledgee does not become subject to VAT (with the exception of pawnshops) (subclause 1, clause 1, article 146 of the Tax Code of the Russian Federation, article 358 of the Civil Code of the Russian Federation). In this case, VAT is required to be charged by the mortgagor (subclause 1, clause 1, article 146 of the Tax Code of the Russian Federation). This is due to the fact that it is he who retains the right of ownership of the pledged item (until the moment of its sale) (Articles 334, 335 of the Civil Code of the Russian Federation).

Sanctions for non-fulfillment (improper fulfillment) of obligations under an agreement secured by a pledge must be included in non-operating income on the date of their recognition by the debtor or on the date of entry into force of the court decision (clause 3 of Article 250 of the Tax Code of the Russian Federation, letter from the Federal Tax Service of Russia in Moscow dated March 31, 2008 No. 09-14/030663). For more information about accounting for sanctions when calculating taxes, see How to record sanctions for violation of a contract imposed on a counterparty.

An example of reflection in accounting and taxation of transactions related to the sale of the subject of pledge. The pledgor failed to fulfill his obligations under the agreement secured by the pledge. The pledgee sold the pledged property at public auction

On September 2, Torgovaya LLC sold goods to Alpha LLC for the amount of 472,000 rubles. (including VAT - 72,000 rubles) with a deferred payment for one month. The supply agreement stipulates that the security for the fulfillment of the obligation to pay for goods is a car owned by Alfa. In the pledge agreement, the car is valued at RUB 600,000. The collateral remains with the pledgor (“Alpha”).

Within the period established by the contract, Alpha did not fulfill its obligation to pay for the goods. For late payment, Hermes imposed a fine on the buyer, Alpha, in the amount of 20,000 rubles. Alpha accepted sanctions in the amount presented.

Due to failure to fulfill obligations under the supply contract, foreclosure was applied to the collateral. The car was sold at public auction on December 30 for 590,000 rubles. (including VAT – 90,000 rubles). From the proceeds from the sale of the collateral at the auction, Hermes withheld the total amount of the buyer's debt - 492,000 rubles. (472,000 rub. + 20,000 rub.). The remaining portion of the proceeds is 98,000 rubles. (590,000 rubles - 492,000 rubles) he transferred to Alfa’s current account on December 31.

The following entries were made in the Hermes accounting.

September 2:

Debit 62 Credit 90-1 – 472,000 rubles. – revenue from the sale of goods is reflected;

Debit 90-3 Credit 68 subaccount “VAT calculations” – 72,000 rubles. – VAT is charged on proceeds from the sale of goods;

Debit 008 – 600,000 rub. – reflects the contractual value of the property received as collateral.

December 30th:

Debit 76 subaccount “Settlements with the auction organizer” Credit 62 – 492,000 rubles. – the repayment of the mortgagor’s debt from the proceeds from the sale of the collateral is reflected;

Debit 76 subaccount “Settlements with the auction organizer” Credit 76 subaccount “Settlements with the pledgor” - 98,000 rubles. – the repayment of the mortgagor’s debt from the proceeds from the sale of the collateral is reflected;

Debit 76 subaccount “Settlements with the pledgor under sanctions” Credit 91-1 – 20,000 rubles. – a fine recognized by the buyer has been assessed;

Loan 008 – 600,000 rub. – the amount of collateral received is written off.

31th of December:

Debit 51 Credit 76 subaccount “Settlements with the auction organizer” – 590,000 rubles. – received funds from the sale of the collateral;

Debit 62 Credit 76 subaccount “Settlements with the pledgor under sanctions” – 20,000 rubles. – the repayment of the mortgagor’s debt in the amount of penalties is reflected;

Debit 76 subaccount “Settlements with the pledgor” Credit 51 – 98,000 rubles. (590,000 rubles – 472,000 rubles – 20,000 rubles) – the funds remaining after repayment of the debt were transferred to the mortgagor.

When calculating income tax, the Hermes accountant included in the income the amount of sanctions in the amount of 20,000 rubles. (clause 3 of article 250 of the Tax Code of the Russian Federation).

By agreement with the pledgor, the pledgee can transfer the pledged property into ownership or redeem it with the subsequent offset of its claims secured by the pledge against payment for the acquired property. This is possible both in the event of the auction being declared invalid, and in the absence of the need to conduct the auction. The pledgee has the right to deduct the amount of VAT presented by the seller of the property on a general basis.

An example of reflection in accounting and taxation of transactions related to the acquisition by the pledgee of the subject of pledge. The pledgor failed to fulfill obligations under the agreement secured by the pledge

On September 2, Torgovaya LLC provided a loan to Alpha LLC in the amount of 500,000 rubles. for a period of two months at 1.5 percent per month (interest is paid monthly) secured by fixed assets (equipment). In the pledge agreement, the parties estimated the cost of the equipment at RUB 590,000. (corresponds to market value). In addition, the pledge agreement provides for the obligation of the pledgee to purchase the pledged property in the event that the primary auction is declared invalid.

During the term of the loan agreement, Alpha did not pay interest and did not return the loan amount on time. In this regard, the collateral was transferred for sale at public auction. After the auction was declared invalid, Hermes acquired ownership of the pledged item at the cost agreed upon by the parties in the pledge agreement (as of the date of sale, the market value of the equipment did not change). The date of purchase of equipment by Hermes is December 10.

In December, an invoice was received from the pledgor. The equipment accepted by Hermes for accounting as part of fixed assets is planned to be used in activities subject to VAT.

To reflect transactions related to the provision of a loan and the acquisition of collateral, the Hermes accountant opened subaccounts for account 76 “Settlements with various debtors and creditors”:

• “Settlements with the borrower”;
• "Settlements with the pledgor."

The following transactions were made in accounting.

September 1:

Debit 58-3 Credit 51 – 500,000 rub. – a loan was issued to Alfa;

Debit 008 – 590,000 rub. – reflects the contractual value of the equipment received as collateral.

September 30th:

Debit 76 subaccount “Settlements with the borrower” Credit 91-1 – 7500 rubles. (RUB 500,000 × 1.5%) – interest accrued on the loan provided.

October 31:

Debit 76 subaccount “Settlements with the borrower” Credit 91-1 – 7500 rubles. (RUB 500,000 × 1.5%) – interest accrued on the loan provided.

December 10:

Debit 08 Credit 76 subaccount “Settlements with the pledgor” – 500,000 rubles. – reflects the receipt of property received to repay the obligation secured by the pledge;

Debit 19 Credit 76 subaccount “Settlements with the pledgor” – 90,000 rubles. – VAT presented by the pledgor is taken into account;

Debit 76 subaccount “Settlements with the pledgor” Credit 58-3 – 500,000 rubles. – the borrower’s debt is offset against the obligation to pay for the equipment;

Debit 76 subaccount “Settlements with the pledgor” Credit 76 subaccount “Settlements with the borrower” - 15,000 rubles. (RUB 7,500 + RUB 7,500) – the borrower’s interest payment debt is offset against the obligation to pay for the equipment;

Debit 76 subaccount “Settlements with the pledgor” Credit 51 – 75,000 rubles. (RUB 590,000 – RUB 515,000) – the difference between the cost of the purchased equipment and the amount of debt under the loan agreement was transferred to the mortgagor;

Loan 008 – 590,000 rub. – the cost of equipment received as collateral is written off;

Debit 01 Credit 08 – 500,000 rub. – equipment is accepted for accounting as part of fixed assets;

Debit 68 subaccount “Calculations for VAT” Credit 19 – 90,000 rubles. – the submitted VAT has been accepted for deduction.

Returnable packaging from a tax perspective

Tax Code of the Russian Federation in paragraph 7 of Art. 154 regulates taxation in transactions with returnable packaging:

1. When paying a deposit for the packaging, this amount is not included in the VAT calculation base.
2. If the reusable packaging is not returned, it is considered that it was purchased for a deposit price, and this operation is already subject to VAT (after the expiration of the return period and receipt/sending of a corresponding notification from the former owner of the container).
3. A supplier who has not received his container back must allocate VAT from its cost, include the remaining amount in the tax base, and send an invoice to the buyer who has become the owner of the container for the allocated VAT.
4. If the buyer keeps the container for himself, then VAT will need to be written off as “other income,” and if he resells it, it will need to be deducted.

NOTE! All documents regarding reusable packaging that has not been returned lose their validity, and instead, documentary evidence of the purchase and sale of packaging, subject to the usual taxes for this transaction, becomes relevant.

USN: return of deposit

Upon proper performance of the obligation secured by the pledge, the pledge is terminated. If the pledged property was in the possession of the organization, it is obliged to return it to the pledgor (Clause 2 of Article 352 of the Civil Code of the Russian Federation). The return of the deposit under the contract is not recognized as an expense when calculating the single tax:

• for organizations that pay a single tax on income - because the tax base is not reduced by any expenses (clause 1 of Article 346.18 of the Tax Code of the Russian Federation);

• for organizations that pay a single tax on the difference between income and expenses - because in the closed list of expenses, which is given in paragraph 1 of Article 346.16 of the Tax Code of the Russian Federation, the refundable deposit is not named.

How is returnable packaging taken into account by the supplier and buyer?

Some products simply cannot be sold without packaging without harming their quality. The manufacturer can package them in preparation for sale and include the price of the packaging in the cost price. But if the container can be reused without damaging the product, buyers are often asked to return it. A housewife going to the market with a milk can is dealing with returnable (reusable) containers.

Let's consider how operations with returnable packaging are accounted for in production, how this dynamics is reflected in accounting entries and in tax accounting.

Simplified tax system: fulfillment of an obligation using collateral

If the pledgor has not fulfilled the obligations secured by the pledge, the pledgee has the right to sell the pledged property. Since until the sale of the pledged property, the pledgor remains its owner, income from the sale of the pledged property arises from him (Clause 1, Article 346.15, Article 249 of the Tax Code of the Russian Federation). The mortgagee will not have such income.

By agreement with the pledgor, the pledgee can transfer the pledged property into ownership or redeem it with the subsequent offset of its claims secured by the pledge against payment for the acquired property. This is possible both in the event of the auction being declared invalid, and in the absence of the need to conduct the auction.

Sanctions for non-fulfillment (improper fulfillment) of obligations under an agreement secured by a pledge should be taken into account as part of non-operating income on the date of receipt of funds from the debtor (clause 1 of Article 346.15, clause 3 of Article 250, clause 1 of Article 346.17 of the Tax Code of the Russian Federation) .

Which accounts account for returnable packaging?

Organizations engaged in trade and public catering keep records of returnable containers on account 41.03.

All other organizations account for returnable packaging on account 10.04.

Technological (necessary for the production process) and inventory containers (used for production or household needs) are accounted for in all organizations on accounts 01.01 or 10.01, depending on the service life and cost of such containers.

In addition, based on the decision of the management of the enterprise, it is possible to establish in the accounting policy the keeping of records of returnable packaging on off-balance sheet account 002, since such packaging does not become the property of the buyer.

Additional Information

The debt security agreement is drawn up in writing. It specifies the subject, its assessment, structure, amount, and debt repayment period. The document must indicate who exactly holds the pledge (Article 339 of the Civil Code of the Russian Federation).

The collateral can be transferred to the person who provided the loan.

But even in this case, the lender does not have tax obligations.

The transfer of security property is not considered a sale and there is no transfer of ownership.

When does the right of lien arise? On the date of transfer of security to the creditor. If the agreement specifies the need to transfer the collateral to the lender, but the item is not actually transferred, no right arises. That is, the creditor will not be able to collect the debtor’s property if the latter does not pay the debt. This is due to the fact that the provisions of the agreement are not fully implemented.

If the debtor does not repay his debt, the creditor has the right to foreclose on the property. He gets the opportunity to sell the collateral. VAT will be charged upon sale. Tax can be waived only on the sale of these items:

• Medical products.
• Precious metal coins.
• Stock.
• Duty free products.
• Authorized share of capital.
• Share of a cooperative mutual fund.

What to do if, upon sale, the amount of profit from the sale turned out to be more than the debtor's debt? What to do with the resulting residue? It is sent to the principal after he has repaid all debts. The basis is paragraph 5 of Article 350 of the Civil Code of the Russian Federation.

FOR YOUR INFORMATION! VAT on the sale of collateral will not be charged if the property belongs to a legal entity exempt from VAT.

Debtor accounting

Accounting for the parties to the transaction will differ. Let us present the features of debtor accounting.

Accounting

The collateral remains the property of the debtor. That is, it must be recorded on the balance sheet as an asset. The object is included in detailed accounting. It also indicates that the object has received the status of collateral. Guarantees for the fulfillment of obligations must be reflected in the DT of off-balance sheet account 009. The corresponding rule is contained in the Instructions for using the Chart of Accounts established by Order of the Ministry of Finance No. 94n dated October 31, 2000. The value of the collateral property is recorded in account 009 in the amount of the collateral assessment made by the parties to the agreement.

If security is transferred to the lienholder, the change in status must be recorded in the property's inventory records or itemized records. All entries are made on the basis of the transfer and acceptance certificate.

In accounting, the transfer of collateral is not considered an expense of the entity. This is explained by the fact that this transfer does not imply a reduction in financial benefits. The basis is clause 2 of PBU 10/99.

When covering the debt, the collateral must be written off from account 009. Also, entries are made in the accounting for the subaccounts of the accounts. Entries are made that are the opposite of entries when objects are pledged. That is, subaccounts that were previously opened for separate accounting of collateral are closed.

Tax accounting

Subclause 1 of clause 1 of Article 146 of the Tax Code of the Russian Federation states that the subject of VAT is the sale of products. This includes the sale of collateral. Article 39 of the Tax Code of the Russian Federation states that sales are considered to be the transfer of rights to property or the provision of services free of charge. When an object is pledged, there is no transfer of ownership rights. This means that no VAT chargeable object is created.

Paragraph 32 of Article 270 of the Tax Code of the Russian Federation states that the cost of the collateral is not included in the cost structure. That is, there is no object for calculating income tax either.

Accounting with the creditor

The lien holder must also keep records.

Accounting

The collateral property is accounted for by the lender in off-balance sheet account 008. Accounting is carried out at a value that suits all parties to the transaction. If the holder has received ownership of the pledge, the new property is accepted for accounting in the status of an asset. The type of asset (for example, goods or materials) must be taken into account. The item is fixed at the agreed price. It is necessary to make an entry on the DT account of the relevant assets and CT account 60.

The lien may be terminated. This is relevant under the following circumstances:

• Redemption of the collateral.
• Amortization.

Under these circumstances, you need to write off account 008.

Tax accounting

If a pledge is opened in the name of the creditor as security, no VAT chargeable object is created. This is explained by the fact that ownership does not pass to the holder.

For purposes of calculating income tax, income from receiving collateral is not generated. The basis is subparagraph 2 of Article 251 of the Tax Code of the Russian Federation.

Example

The lender provided the debtor with a loan secured in the form of property for the period May 1-August 31. Interest for using the service is charged at the rate of 1% per month. They are paid every month. Collateral is materials transferred to the holder. The results of their assessment should be recorded in the security agreement. On August 31, 2021, the debt was returned. On the same date, the security was terminated due to the termination of obligations.

The borrower records these entries in his accounting as of May 1:

• DT51 KT66. Receipt of funds based on a loan agreement. The primary source is the loan agreement and bank account statement from the banking institution.
• DT10 KT10. Transfer of materials as an interim measure. The primary agreement is the collateral agreement.
• DT009. Reflection of the transfer of items as collateral.

From May 31 to August 31, the borrower makes these entries:

• DT91 KT66. Interest charged at 1%. Primary: loan agreement, certificate of calculation.
• DT66 KT51. Payment of interest on debt.

On August 31, these postings are made:

• DT66 KT51. Fixation of debt repayment.
• DT10 KT10. Accounting for the value of collateral that has been returned by its holder.
• KT009. Write-off of the amount of repaid debt under the loan agreement.

Nuances of securities with coupon type of income

The value of bonds with a coupon type of profit differs from the par value in any direction. Therefore, the cost consists of the selling price, as well as the amount that complements it. The purchase of bonds that have a coupon income is carried out on the secondary market. Then the same wiring is used as indicated above for the receiving side.

When the amount of excess value is written off evenly, then by the date of scheduled redemption of the security the investor will receive the nominal price. If the price level is less than the face value, the difference will be added in equal parts. In both cases, the difference is taken into account in the other expenses columns.