When concluding a contract with a Russian organization, the director wants to tie the cost of the contract to the dollar or euro exchange rate, or even fix the exchange rate in order to insure himself against its fluctuations. In this case, the accountant must remember that this will require additional study of the legislation, because it is necessary to correctly reflect these transactions in accounting and tax accounting and correctly determine the base for VAT and income tax. Indeed, in some cases they will differ.
So, the terms of the contract may stipulate that the price of the contract is a conventional monetary unit, dollar or euro, subject to conversion into rubles on the date of payment and tied to the official exchange rate or another rate fixed in the contract. This allows us to do paragraph 2 of Article 317 of the Civil Code of the Russian Federation.
Option one: payment received after shipment
In the buyer's accounting, costs arise in the form of the cost of the goods received, expressed in currency or conventional units. According to accounting standards, expenses must be recalculated at the exchange rate established on the date of shipment. This follows from paragraph 6 of PBU 3/2006 “Accounting for assets and liabilities, the value of which is expressed in foreign currency.” In tax accounting, costs are also recalculated at the exchange rate on the date of shipment (Clause 10, Article 272 of the Tax Code of the Russian Federation). Let us immediately make a reservation that hereinafter it is assumed that the purchasing company is on the general taxation system and uses the accrual method.
Next, the supply payables must be adjusted up or down, depending on whether the exchange rate increases or decreases. Adjustments are made through exchange rate differences.
The moment and procedure for determining exchange rate differences in tax and accounting are the same. This follows from paragraph 8 of Article 271 of the Tax Code of the Russian Federation, paragraph 10 of Article 272 of the Tax Code of the Russian Federation and from the provisions of PBU 3/2006. Thus, the exchange rate difference is formed on the last day of each month until full payment is made. Plus, the exchange rate difference is formed at the time of payment, both full and partial.
The exchange rate difference on the last day of each month is the cost of the unpaid part of the delivery in foreign currency or monetary units, multiplied by the difference between the two rates. The first rate is on the date of the previous recalculation (if there have been no recalculations yet, then on the delivery date). The second course is for the current date, that is, the last day of the month.
The exchange rate difference at the time of payment consists of two parts. To find the first part, you need to take the cost of part of the delivery (in foreign currency or cu), which is paid by the buyer. To find the second part, you need to take the cost of the remaining unpaid part of the delivery in foreign currency or cu. Both the first and second values must be multiplied by the difference between the two rates: on the date of the previous recalculation (if there have been no recalculations yet, then on the delivery date) and on the date of payment.
If the exchange rate has decreased since the previous recalculation (or delivery), then the resulting difference is positive. Both in tax and accounting it should be classified as non-operating income (subclause 11 of article 250 of the Tax Code of the Russian Federation and clause 13 of PBU 3/2006).
If the exchange rate has increased since the previous recalculation (or delivery), then the resulting difference is negative. Both in tax and accounting it is supposed to be written off as non-operating expenses (subclause 5, clause 1, article 265 of the Tax Code of the Russian Federation and clause 13 of PBU 3/2006).
Particular attention should be paid to VAT deduction. Its value is formed once - at the time of shipment at the rate established on the date of shipment. When making subsequent payments, the deduction amount is not adjusted, even if the exchange rate changes. Exchange differences (both positive and negative) are included in income and expenses along with VAT (clause 1 of Article 172 of the Tax Code of the Russian Federation).
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Example 1 In March, Alpha LLC shipped to Betta LLC a consignment of goods with a total value of 120,000 conventional units (including VAT 20% - 20,000 USD). The exchange rate on the date of shipment was 45 rubles/cu. The exchange rate as of March 31 was 42 rubles/cu. In April, Betta LLC partially paid for the goods, transferring 40,000 USD to Alfa. at the rate of 40 rubles/cu. The exchange rate as of April 30 was 38 rubles/cu. In May, Betta finally paid for the goods, transferring the remaining 80,000 USD. at the rate of 35 rubles/cu.
Betta's accountant reflected these transactions as follows. In March, on the date of shipment, he made the following entries: DEBIT 41 CREDIT 60 - 4,500,000 rubles. ((120,000 c.u. – 20,000 c.u.) x 45 rub./c.u.) - reflects the cost of the goods received; DEBIT 19 CREDIT 60 – 900,000 rub. (20,000 c.u. x 45 rub./c.u.) - input VAT is reflected. Tax accounting includes costs associated with production and sales in the amount of RUB 4,500,000. On March 31, the accountant made the following entry: DEBIT 60 CREDIT 91 – 360,000 rubles. (120,000 c.u. x (45 rub./c.u. – 42 rub./c.u.) - a positive exchange rate difference is reflected when recalculating accounts payable at the rate on the last day of the month. In tax accounting, non-operating income was formed in in the amount of 360,000 rubles.
In April, on the date of transfer of money to the Alpha account, the accountant made the following entries: DEBIT 60 CREDIT 51 - 1,600,000 rubles. (40,000 c.u. x 40 rub./c.u.) - partial payment was transferred to the account of Alpha LLC; DEBIT 60 CREDIT 91 – 80,000 rub. (40,000 c.u. x (42 rub./c.u. – 40 rub./c.u.) - reflects the positive exchange rate difference when recalculating the amount of payment according to the kur on the day of payment; DEBIT 60 CREDIT 91 – 160,000 rub. . ((120,000 c.u. – 40,000 c.u.) x (42 rub./cu. – 40 rub./c.u.) - reflects the positive exchange rate difference when recalculating the balance of accounts payable at the exchange rate day of payment. In tax accounting, non-operating income was generated in the amount of 240,000 rubles (80,000 + 160,000). On April 30, the accountant made the following entry: DEBIT 60 CREDIT 91 - 160,000 rubles ((120,000 cu - 40,000 cu .u.) x (40 rub./cu - 38 rub./cu) - a positive exchange rate difference is reflected when recalculating the balance of accounts payable at the rate on the last day of the month. Non-operating income in the amount of 160 is generated in tax accounting 000 rub.
In May, the accountant made the following entries: DEBIT 60 CREDIT 51 – 2,800,000 rubles. (80,000 c.u. x 35 rub./c.u.) - the final payment was transferred to the account of Alpha LLC; DEBIT 60 CREDIT 91 – 240,000 rub. (80,000 c.u. x (38 rub./c.u. – 35 rub./c.u.) - a positive exchange rate difference is reflected when recalculating the payment amount at the rate on the day of payment. Tax accounting shows non-operating income in the amount 240,000 rub.
Purchase of goods under contracts in monetary units: accounting in 1C
Setting up functionality for accounting for contracts in monetary units.
In order for the 1C program to be able to keep records of contracts in monetary units, it is necessary to enter several currency positions the Currencies directory
Drawing up an agreement in USD
If mutual settlements with the supplier are carried out under an agreement (invoice for payment), expressed in currency or cu, and payment is made in rubles, then when entering the agreement in the Contracts directory, you must indicate Payments
- Price in - currency or agreed rate specified in the contract;
- Payment in - RUB checkbox.
Accounts of settlements with suppliers under contracts in monetary units.
When choosing a contract in USD To conduct mutual settlements with suppliers, settlement accounts intended in 1C for contracts in monetary units will be automatically established in the documents:
- 60.31 “Settlements with suppliers and contractors (in monetary units)”;
- 60.32 “Settlements for advances issued (in cu).”
As a result of posting documents, postings will be made to the corresponding accounts for mutual settlements with suppliers.
Exchange rate for currency conversion in rubles
Attention! The VAT rate has been changed from 01/01/2019 from 18% to 20% and from 18/118 to 20/120.
Another feature of filling out documents under contracts in cu. is that when goods are posted in the document Receipts (acts, invoices), the tabular section indicates the cost of goods received in monetary units.
Accounting is kept in rubles and the cost of objects expressed in foreign currency is subject to conversion into rubles (Article 12 of the Federal Law of December 6, 2011 N 402-FZ).
Where does the program get the exchange rate for substitution into documents for the purpose of recalculating currency units? in rubles?
The rate used by 1C for converting currency units. in rubles, is inextricably linked with the rates in the Currency directory .
The exchange rate or cu defined in the agreement is added to the directory. These can be rates of official currencies EUR, USD, as well as other currency rates, for example, rates such as EUR + 2%, USD – 1%, etc.
At the same time, in order to automatically fill in other rates in the Currency , they must be linked to the official rates of the Central Bank of the Russian Federation.
What is the exchange rate for converting currency units? in rubles uses 1C when generating transactions?
The rate used for ruble valuation of the cost of purchased goods will differ and depend on the payment procedure under the contract.
Let's consider different options for purchasing goods under a contract in USD:
Purchase of goods under a contract in USD with 100% prepayment
Purchase of goods under a contract in USD with 100% postpayment
Purchase of goods under a contract in USD with partial payment
Purchase of goods under a contract in monetary units, special transfer of ownership rights
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Option two: payment was received before shipment took place
If the buyer makes a 100% prepayment, then he generates expenses in the form of the cost of the goods at the time of transfer of money at the rate on the date of prepayment. Subsequently, during shipment, no adjustments are made, and exchange rate differences are not generated. In the accounting rules, this norm is enshrined in paragraph 9 of PBU 3/2006. In tax accounting, the absence of exchange rate differences when making an advance payment is stated in subparagraph 11 of Article 250 of the Tax Code of the Russian Federation and in subparagraph 5 of paragraph 1 of Article 265 of the Tax Code of the Russian Federation.
The VAT deduction is also generated once - at the time of transfer of the advance payment. The amount indicated by the supplier in the “advance” invoice and calculated at the exchange rate on the date of the advance is accepted for deduction. Further, at the time of shipment, the supplier does not recalculate the VAT amount, as the Federal Tax Service reminded in letter No. ED-4-3/12813 dated July 21, 2015 (see “The Federal Tax Service clarified the procedure for issuing invoices under foreign exchange agreements”). Therefore, the buyer should not recalculate the deduction amount.
Example 2 According to the agreement, Wholesaler LLC must supply products worth 240,000 USD to Magazin LLC. (including VAT 20% - 40,000 USD). In turn, the “Store” undertakes to make a 100% prepayment. In July, “Store” transferred 240,000 USD to the account of “Wholesaler”. at the rate of 55 rubles/cu. In August, “Wholesaler” shipped all the goods to “Store”. The exchange rate on the date of shipment was 60 rubles/cu. The accountant of the “Store” reflected these transactions as follows:
In July, he made the following entries: DEBIT 60 CREDIT 51 - 13,200,000 rubles. (240,000 c.u. x 55 rub./c.u.) - one hundred percent prepayment was transferred to the account of Wholesaler LLC; DEBIT 68 CREDIT 76 – 2,200,000 rub. (40,000 c.u. x 55 rub./c.u.) - accepted for deduction of VAT on prepayment.
In August, the accountant made the following entries: DEBIT 41 CREDIT 60 - 11,000,000 rubles. ((240,000 c.u. – 40,000 c.u.) x 55 rub./c.u.) - reflects the cost of the goods received; DEBIT 19 CREDIT 60 – 2,200,000 rub. (40,000 c.u. x 55 rub./c.u.) - input VAT reflected; DEBIT 68 CREDIT 19 – 2,200,000 rub. — input VAT is presented for deduction; DEBIT 76 CREDIT 68 – 2,200,000 rub. — VAT, previously accepted for deduction from the advance payment, has been restored. Tax accounting includes costs associated with production and sales in the amount of 11,000,000 rubles. The accountant did not make any recalculations or adjustments due to exchange rate changes.
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Legislative regulation
The basis of the regulatory framework in this area is Federal Law No. 173-FZ of December 10, 2003 “On Currency Regulation and Currency Control,” as well as a number of regulatory documents adopted in its implementation, including by-laws of the Central Bank of the Russian Federation. In addition, the Civil Code of the Russian Federation establishes the provision that the main means of payment on the territory of the Russian Federation is the Russian ruble - Part 1 of Art. 317 Civil Code of the Russian Federation.
The current legislation is focused on the priority of using the national currency and restrictions in the calculation of funds of other states. This policy is typical for most countries of the world.
How to specify a cash payment clause
Once the method of payment for a transaction has been determined, the parties need to clarify the form of payment. Counterparties have the right to choose one of three formats:
- provide for cash payment in the contract;
- make a non-cash payment, for example, using payment orders;
- pay using other consideration (provide a service, perform work, etc.).
When choosing a cash form of payment, there is an important limitation. Organizations and entrepreneurs do not have the right to make cash payments under one contract in excess of the established limit of 100,000 rubles (clause 4 of Bank of Russia Directives No. 5348-U dated December 9, 2019). Otherwise, the company or individual entrepreneur will be held accountable for violating the rules of cash discipline.
