Write-off of fixed assets

Accounting means a lot of different operations with major, off-balance and other accounts. One of the main operations is the write-off of fixed assets. It is carried out exactly with methodological instructions, as well as other documents regulating the procedure for the procedure.

Can be written off transport, facilities that are classified as fixed assets. To do this, they must be obsolete or technically worn out. Also, fixed assets are eliminated in the event that they are hopelessly damaged as a result of an accident, a natural disaster, or incorrect operating conditions. The buildings that are subject to reconstruction and destruction, as well as those that can not be restored, are also being written off.

Modern rules allow for writing off fixed assets, even if they are fit for work, but are not needed in connection with the termination of the relevant production. This procedure is carried out even if it is not profitable and inexpedient, but there are certain specific reasons for this.

Write-off of fixed assets requires the execution of an order in which the owner (manager, director) of the property being sold declares the decision taken. Explain the reasons for this action is optional. By order of the head, a special commission is created, which consists of persons using fixed assets. If the write-off of fixed assets is carried out regularly, there must be documents that can justify the reasons for the liquidation of a particular facility. The commission requires the presence of a chief accountant.

Further, the object to be removed is carefully inspected using technical documents, the degree of its suitability for use is determined, those persons, because of which the product has become unusable, are identified, those elements that can still be used are established and only then the write-off certificate is drawn up. It must be issued in two copies. One document remains in the organization, and the other is transferred to the accounting department. The performed actions should be reflected in the accounting report.

The next operation is writing off the tax debt. The main reason for such a procedure is the loss of the ability of the tax authority to recover the debt as a result of the expiration of the prescribed period. To do this, there must be a court order that stops the powers of the tax service in connection with the expiration of the debt repayment period. Also need to have a certificate from the tax inspection, which indicates the amount of debt. Such a form of write-off is not made without the presence of these basic documents.

Another type of accounting transactions is a write-off from an off-balance account. The presented account contains those funds that are not the direct property of the organization. The write-off occurs if they become the property of the enterprise.