Accounting 70 account. Postings, credit and balances

70 the account is intended for generalization of all data on a payment of employees. It takes into account various bonuses, benefits, reflects the operations for the issuance of pensions, as well as the payment of profits from the securities of the company. In this publication, the reader will find out a lot of interesting information about the account "Payments with employees on wages", his correspondence, balance, and examples will help to master the material.

What does the credit score 70 show?

Loan 70 account "Payments with employees on wages" records the following operations:

• Payroll to employees;
• Cash accrued due to the formed reserve for payment of holidays (D96 / K70);
• Accrual of contributions from transfers to the social security fund of citizens and other similar amounts (D69 / K70);
• Profit arising from participation in the company's capital (D84 / K70).

Debit account 70

70 debit account reflects the paid cash, among which there may be benefits, bonuses, wages, as well as profit from investments in the capital of the enterprise. At the same time taxes, payments on executive documentation and other deductions are taken into account. The fixation of money amounts accrued but not paid in a certain period due to the non-appearance of the recipient (D70 / K76.3) is carried out. Analytical accounting for the account under review is conducted for each employee of the organization.

Correspondence on debit

70 account "Settlements with employees on wages" interacts on a debit with the following accounts:

• "Cashier" (50);
• "Settlement accounts" (51) ;
• "Currency accounts" (52);
• "Special accounts in banks" (55);
• "Calculations on taxes and fees" (68);
• "Settlements for social insurance and collateral" (69);
• "Settlements with accountable persons" (71);
• "Settlements with personnel for other transactions" (73);
• "Settlements with various debtors and creditors" (76);
• "On-farm settlements" (79);
• "Shortcomings and losses from damage to values" (94).

Example of business operations

To better understand what you can do using account 70, you should see several examples.

Correspondence on the loan

The account 70 interacts on the loan with the following accounts:

• "Investments in non-current assets" (08);
• "Basic production" (20);
• "General production expenses" (25);
• "General economic expenses" (26);
• "Service industries and farms" (29);
• "Expenses for sale" (44);
• "Settlements for social insurance and collateral" (69);
• "Settlements with various debtors and creditors" (76);
• "On-farm settlements" (79);
• "Marriage in production" (28);
• "Undistributed profit (uncovered loss)" (84);
• "Other income and expenses" (91);
• "Reserves for future expenses" (96);
• "Expenses of future periods" (97);
• "Profits and losses" (99).

Examples of business operations on a loan

In accounting practice 70 the account is applied in different cases. In the table the part from them is considered.

Account balance

In most cases, the balance of account 70 is credit and means the enterprise's debt to the staff. By structure, in general, the account is passive and is reflected in the corresponding section of the balance sheet. However, in practice there are situations when the given advance is more than the amount of the monthly salary. This may be the result of a confluence of special circumstances or arithmetical errors (incorrect accrual and transfer of wages), then the employee will have to return the money, and the balance of the funds is fixed in the debit.

Calculation of labor remuneration for personnel in 1C system

Calculate the correct salary in the program "1C: Salary and Personnel" can be provided that a certain sequence of location of all the required data in the information base. The results of the calculations are entered in the payroll. Some organizations issue salaries for cash orders, which are issued for each worker. To avoid mistakes, users of the 1C system are encouraged to count all the figures in the payroll and issue money on the required documents.

To compile a calculated statement in the 1C program, open the "Reports" menu and select the corresponding item. The document can be compiled as a whole for the enterprise or for a specific subdivision, as well as for a group of employees. The order of data reflection in the payroll:

1. The order number of the entry in column No. 1 is set.
2. Columns 2-5 enter information about the employee. It can be viewed from the "Reference books" section (personnel number, surname and initials, position or profession, tariff rate or salary).
3. Based on the time sheet, column number 6 records the number of days actually worked in the period, and in number 7 - worked during holidays and weekends.
4. Information on the accruals for the current month on types of payment (section No. 8-12) is displayed, as well as calculation of deductions from the amount.
5. In column No. 13, the amount of tax payable in this month is set.
6. Data on other deductions from the worker's salary (column No. 14) are entered: repayment of the loan, alimony, union membership fees, etc.
7. Column No. 15 sums up the results.
8. Column 16 shows the company's debt (employee's debt) based on the results of previous calculations.
9. If there is a difference between the results of Count Nos. 12 and 15, it is shown in column No. 18 "Amount to be paid".

In the article 70 account "Settlements with employees on remuneration of labor" was considered in detail. Knowing its features, young professionals will be able to properly perform the required financial transactions.