Example of inventory of future income

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Now let's take a closer look at what transactions can be made, what should be taken into account, and how the operation of moving funds is implemented within the framework of the chart of accounts.

Before considering the operations of distributing money and the correspondence of accounts (the connection between accounts), we will note that within the framework of accounting, debit shows where money or resources have arrived, and credit shows how changes have occurred. These are like two sides of one entry: income - expense, asset - liability.

Therefore, when we want to write off part of the money from the amounts of income of future periods that are already in account 98.1 and reflect them in the income of the current period, we need to write:

1) Debit (Dt) 98.1 — Credit (Ct) 91 (other income and expenses of the current period)
That is, we literally record the transfer of money from one account to another. From "DBP" to "Other income, expenses".

Another wiring means:

2) Debit (Dt) 51 - Credit (Ct) 98
Debit 51 is the company's Settlement Account. The transaction describes the romania phone number list receipt of the full amount of money from the customer and its transfer to the special DBP account that we discussed above. After that very "future period" arrives, transaction 1 is used.

Let's look at an example of a monetary transaction and accounting for debits and credits in more detail.

The company leases out a warehouse. The cost of one month's rent is 40,000 rubles. The tenant transfers payment for 12 months in the amount of 480,000 rubles. Let's make calculations.

The service will be provided gradually over the course of a year, and each month 40,000 rubles will be recognized as current period income. The cost will be reflected in the reporting within the framework of accounting.

Dt 51 Kt 76 - The company receives the full amount to the current account and records the obligations to the tenant.