Insurance refers to relations to protect the interests of individuals or legal entities in the event of insured events. When concluding an agreement with a company engaged in such activities, the company bears certain costs in the amount of the cost of the policy. This raises the question of writing off insurance to the organization’s expenses.
Instruction manual
1
Reflect in accounting the payment under the insurance contract on the basis of the payment order, bank statement: - Debit of account 76 "Settlements with other debtors and creditors", Credit of account 51 "Settlement account" - the contribution to the insurer organization has been paid.
2
Relate the cost of the insurance policy to the operating expenses of the organization at a time on the date of payment of the contribution with the cash method of recognition of expenses, in accordance with paragraph 3 of Article 273 of the Tax Code of the Russian Federation. The accounting entry will be as follows: Debit of account 20 “Main production” (23, 25, 44), Credit of account 76 “Settlements with other debtors and creditors” - the cost of the policy is taken into account in the current expenses of the organization. The supporting documents for the record will be the contract and the policy. In tax accounting, write off the cost of insurance as part of other expenses associated with production and sale in the same tax period.
3
Relate the cost of insurance to expenses of the organization on an accrual basis, in accordance with paragraph 6 of Article 272 of the Tax Code, if the contract is concluded for a period of more than one year. In this case, write off the insurance expenses of the organization evenly during the term of the policy in proportion to the number of calendar days of this period on the basis of the accounting statement-calculation compiled monthly.
4
Write off the amount of the deductible temporary difference and the deferred tax asset in the debit of account 09 "Deferred tax assets" in tax accounting. Write off monthly, based on the accounting statement-calculation, the reduction of the deferred tax asset by posting: Debit of account 68 "Calculations for taxes", Credit of account 09 "Deferred tax assets".
5
Make entries in accounting when an insured event occurs: - Debit of account 76 "Settlements with other debtors and creditors", Credit of account 01 "Fixed assets" (08, 10, 41) - reflected damage to property; - Debit of account 51 "Settlement account", Credit of account 76 - the monetary compensation paid according to the policy is taken into account; - Debit of account 99 "Profits and losses", Credit of account 76 - loss recognized from an insured event, or Debit of account 76, Credit of account 99 - income recognized. Make a profit or loss calculation in the form of an accounting statement.
