If you consider your company progressive and modern, refuse to give flash cards, ties, wallets, belts and expensive alcohol. Of course, someone will consider this to be an always relevant classic, and someone will reproach you for the lack of originality.
How to reflect gifts to clients in accounting
Next, we will look at how to reflect gifts to clients in accounting. The cost of gifts to clients is recorded as other expenses. The table below shows the transactions. They look like this.
D 10, 41 - K 60 Gifts purchased
D 91.02 - K 10 (41, 43) Gifts were handed over
Gifts are subject to write-off as other expenses immediately upon receipt in the same manner in which fixed low-value assets are written off (clause 2 of FSBU 5/2019).
The transfer of gifts into the singapore phone data hands of counterparties must be secured by the following documents:
Internal rules of the company that determine the procedure for transferring gifts to counterparties. These rules can be listed in the company's code of business ethics or corporate policy of the enterprise. It establishes:
limits on the price of gifts;
reasons for presentation. The reason may be professional and state holidays, important dates for the company, anniversaries and birthdays of employees, business events, negotiations and other gestures of politeness provided for by the company's ethics. The gift should correspond in value to the event and the nuances of the business relationship between the giver and the recipient.
An order to transfer gifts into the hands of counterparties, listing their names and indicating their value.
A gift agreement, provided that the price of the gifts exceeds 3,000 rubles (clause 1 of Article 572, clauses 1, 2 of Article 574 of the Civil Code of the Russian Federation).
The issuance of gifts can be formalized by a write-off act or another document in accordance with the standard developed by the company.
Once the gifts have been delivered, an invoice will need to be prepared indicating the amount of value added tax on the total price of the gifts.
How to reflect gifts to clients in accounting