The treatment of barter transactions
From the chosen method of determining the revenue depends on the accounting for barter transactions.
In the method of determining the proceeds from the sale of goods (works, services) as the shipment of goods (works, services) account of barter operations is as follows.
1. Goods and other property, shipped in from barter transactions are credited to incorporate the financial results (90 "Sales", 91 "Other income and expenses") in correspondence with a score of 62 "Payments from customers and clients."
Debit 1962 Credit 90-1
- Reflected proceeds from the transfer of goods, when the realization of these goods is a normal activity of the seller;
Debit 1962 Credit 91-1
- Reflected operating income from the transfer of fixed assets, materials and other items, implementation of which is not a normal activity of the seller.
2. At the time of shipment is made to calculate VAT.
Debit 90-3 (91-2) Credit 68 sub "Accounting for VAT.
3. At the same time in the accounts of accounting of financial results deducted the cost of products shipped now (works, services), goods, fixed assets and other property in correspondence with the respective accounts of integrating these values.
90-2 Credit Debits 43 (41, 20)
- Written off the cost of shipped goods (works, services);
91-2 Credit Debits 01 (10)
- Written off the cost of shipped assets and other assets.