Inventories and their accounting

Each organization must take into account the material and material values that are part of the company's current assets. Usually they are intended to ensure the production process or participation in it for a period of not more than one cycle, after which they are fully or partially included in the price of the goods.

Accounting for inventories begins with settlement documents received from the suppliers of products, on the payment of fees for raw materials or materials on the basis of the bilateral agreement concluded earlier. Thus, the buyer enterprise receives a certain set of accompanying documents that oblige you to transfer the amount of money indicated in them to the supplier's account. Such documents include an invoice, a payment request, an order, transport bills, and so on. All inventory and any movement should be reflected in the accounting records, that is, their receipt and retirement are registered in specialized books. All pages of each accounting book must be threaded, numbered, stamped by the company. They are often stored in the safe of the chief accountant, and after use they are archived for at least five years.

The stock of materials also records all incoming and outgoing goods. In this case, the storekeeper must store all the initial documentation, make the necessary entries in his working documents, and then transfer the primary to the accounting department. As a rule, the transfer of documentation to the accounting department is carried out within the established timeframe, but not less than once a week. Inventories are recorded on the "Materials" account, and their receipt is reflected in the debit, and retirement - on the loan. If the enterprise purchases goods, then the credit of the account "Settlements with accountable persons" reflects a similar amount (when calculating for cash in cash or transferring funds by cashless transfer). If they are produced due to own subsidiary farming, then the account "Auxiliary production" is used for the loan.

As a rule, commodity-material values are issued from a warehouse for on-farm use or participation in the production process. In most cases, the write-off of inventory from the warehouse implies an intra-plant movement of materials. Standard unified forms of documents are used, for example, picking lists, limit-fence cards, cutting cards. In addition, the issuance of any raw materials is made only within the limits set by the accounting policy. If an extradition is required beyond this limit, the storekeeper can realize it only on the basis of the permission of the director, engineer or other authorized person.

At all enterprises inventory of material assets is regularly carried out. It is conducted by a specially formed commission for this purpose on the basis of an appropriate order signed by the head. Inventory assumes a one-by-one recount of all materials present in the warehouse, and reconciliation of the obtained data with the available figures in the documents.