· maintenance;

· Medium repair;

· Major repairs.

The main task of maintenance is prevention. Routine repairs are carried out systematically, for example, once a quarter, this helps to protect the property from premature wear.

The nature of the work carried out is associated with the change of individual parts and assemblies without disassembling the entire fixed asset, adjusting its individual parts and mechanisms, cleaning them, lubricating them, which ensures the constant readiness of the fixed asset for operation.

In terms of complexity, medium repairs are approaching major repairs, since during medium repairs it becomes necessary to completely restore or replace individual parts of a fixed asset by partially disassembling it. Medium repairs are carried out much less frequently than routine repairs, usually once a year.

Overhaul is the most difficult of all types of fixed asset repair. Frequency overhaul depends on how intensively the fixed asset is used. As a rule, major repairs are carried out no more than once every several years and, in most cases, it is quite lengthy in time.

When carrying out a major overhaul, the fixed asset is completely disassembled, worn parts and mechanisms are replaced with new and more modern ones. Overhaul in most cases is carried out by contractors, as it requires higher professional skills of performers.

Repair expenses in accordance with paragraph 18 of PBU 10/99 are recognized in the reporting period in which they occurred, regardless of the time of actual payment money.

The costs of repairs by the organization are reflected on account 23 "Auxiliary production", 25 "General production costs" and the like. The cost of repairs consists of the cost of materials, spare parts, components, wages of workers involved in the repair, the amounts of the unified social tax, insurance premiums, the amount of depreciation of fixed assets and other expenses directly related to the repair.

Suppose that the repair of the fixed asset was carried out by the forces of auxiliary production, and consider general scheme accounting entries when carrying out repairs in a household way:

Correspondence of invoices
Debit	Credit
		Reflected the cost of purchased spare parts
		The debt to the supplier has been repaid
		Written off the cost of materials released for repairs
		Accrued wages for workers engaged in repairs
		Taxes charged on the amount of wages

Very often the organization, for various reasons, is unable to carry out repairs on its own. In this case, third-party organizations are involved in the repair or individuals... Repairs can also be carried out by the tenant, but in this case the landlord must reimburse him for the repair costs or set off the amount of the costs incurred against the rent.

For the purpose of taxation of profits in accordance with the Tax Code Russian Federation (hereinafter referred to as the RF Tax Code) costs of maintenance and operation, repair and maintenance fixed assets and other property, as well as to maintain them in good condition are included in the cost of production and sale.

Expenses for the repair of fixed assets incurred by the taxpayer, according to the Tax Code of the Russian Federation, are considered as other expenses and are recognized for tax purposes in the reporting period in which they were incurred in the amount of actual costs. It should be borne in mind that taxpayers applying the accrual method recognize expenses for the repair of fixed assets as expenses in the period in which they were incurred, regardless of their payment.

Taxpayers using the cash method, in accordance with the Tax Code of the Russian Federation, recognize repair costs only after their actual payment.

This option for writing off expenses for the repair of fixed assets is used in cases where the repair of fixed assets is carried out unevenly throughout the year, and also when it becomes necessary to carry out a large amount of unforeseen renovation works, for example, in case of accidents. The costs associated with such repairs, it is advisable to reflect in the accounting for the debit of account 97 "Deferred expenses".

To justify the amounts of costs attributed to or debited from the account, it is advisable to draw up an estimate or plan for the production of repair work in monetary terms. These documents must be approved by the head of the organization.

If the repair is carried out by third-party organizations, then according to the Tax Code of the Russian Federation, the amount of VAT presented by the contractor and paid by the customer is subject to deduction in full after registration of the work performed. Confirmation that the work on the repair of the object of fixed assets has been completed can be an act of work performed.

Example 1.

The organization carried out a major overhaul of the leased fixed assets object in an economic way. Material costs amounted to 580,000 rubles, wages of employees - 30,000 rubles, the amount of UST - 7,800 rubles. The creation of a reserve for the repair of fixed assets is not provided for by the accounting policy of the organization. In order to distribute the costs evenly, it was decided to write off them monthly in equal installments within 2 years.

Correspondence of invoices		Amount, rubles
Debit	Credit
			Reflected the cost of material assets released for repairs
			The amount of accrued wages is reflected
			Reflected the amount of taxes accrued on payroll
			Attributed to the costs of the reporting period the amount of repair costs in the amount of 1/24 part

End of the example.

Example 2.

The organization repaired the leased fixed assets object. The repair was carried out by a third party. The cost of the work was 129,800 rubles, including VAT - 19,800 rubles. Repairs will be charged to manufacturing costs over 12 months.

Correspondence of invoices		Amount, rubles
Debit	Credit
			Reflected the cost of the repair carried out on the basis of the certificate of work performed
			Reflected the amount of VAT from the cost of repair work
			The funds were transferred for the repairs made
			Actual paid VAT amount accepted for deduction
			Attributed to the costs of the reporting period are expenses for the repair of an item of fixed assets in the amount of 1/12 part

End of the example.

To evenly include the forthcoming expenses for the repair of fixed assets in the expenses of the reporting period, the organization, in accordance with clause 72 of the Regulations for the maintenance of accounting and financial reporting in the Russian Federation, approved by Order of the Ministry of Finance of the Russian Federation of July 29, 1998 No. 34n, may create a reserve for the repair of fixed assets ...

Account 96 "Reserves for future expenses" is intended as a chart of accounts and instructions for its use to summarize information on the availability and movement of amounts reserved for the repair of fixed assets. The creation of the reserve is reflected in the credit of the account and the debit of the accounts for accounting for production costs.

If the repair of fixed assets is carried out by the forces of auxiliary production, the use of the reserve amounts is reflected in the debit of the account in correspondence with the credit of the auxiliary production account. If specialists from third-party organizations are involved in the repair, account 60 "Settlements with suppliers and contractors" is credited.

At the end of the reporting period, an inventory of the reserve for the repair of fixed assets is carried out. Unused amounts of the provision at the end of the year are reversed.

High-quality repair many fixed assets require a fairly long period of time, which is not limited to one reporting period. If the completion of the repairs takes place in the next year, the balance of the provision for the repair of fixed assets is not reversed. After the completion of the repair work, the excess accrued amount of the reserve should be charged to the financial results of the reporting period.

A situation may arise when the created reserve is not enough to carry out the repair of fixed assets, that is, the actual repair costs exceed the amount of the created reserve. In this case, at the end of the reporting period, the excess of actual costs is written off to expenses.

Example 3.

To carry out the repair of fixed assets, the organization decided to create a reserve for repairs in the amount of 180,000 rubles. The monthly amount of deductions to the reserve for future expenses amounted to 15,000 rubles. (180,000 rubles / 12 months). The actual expenses for the repairs carried out by the organization's efforts in the reporting year amounted to 162,000 rubles.

Correspondence of invoices		Amount, rubles
Debit	Credit
From January to December of the reporting year, the following entries will be made in accounting every month:
			Accrued the amount of the reserve for future expenses in the amount of 1/12 part
At the time of the repair
			Reflected expenses for the repair of fixed assets
Year-end accounting records
			STUPID! Reflected unused reserve amount

End of the example.

According to clause 5.5.3 of the Methodological Recommendations for the Application of Chapter 25 "Corporate Profit Tax" of the second part of the Tax Code of the Russian Federation, approved by Order of the Ministry of Taxes and Levies of the Russian Federation dated December 20, 2002 No. BG-3-02 / 729, if it decides to form this reserve, then actually incurred expenses for the repair of fixed assets are not included in the current period expenses. Only after the end of the tax period, the amount of excess of actually incurred expenses over the created reserve is included in other expenses.

In order to correctly form a reserve for future expenses for the repair of fixed assets, it is necessary to ensure that the following data are recorded:

· The initial cost of depreciable fixed assets at the beginning of the tax period;

· The actual amount of repair costs for the previous three years and the quotient of this amount, divided by three;

· The schedule of repairs, including those for the current tax period;

· Estimated cost of the specified repairs;

· A list of fixed assets for which especially complex and expensive types of capital repairs will be carried out;

· A schedule for the repair of these fixed assets, which indicates the period of repair work and their estimated cost.

Contributions to the provision for future expenses are calculated based on the total cost of fixed assets and deduction standards.

The total cost of fixed assets is determined as the sum of the initial cost of all depreciable fixed assets put into operation at the beginning of the tax period, in which a reserve is created for future expenses for the repair of fixed assets. Thus, if the reserve is created for 2005, then the value of fixed assets acquired during this year will not be included in the total aggregate value of fixed assets calculated to determine the deductions to the created reserve.

If the organization has in its composition those put into operation before January 1, 2002, in relation to them, the replacement cost determined in accordance with the Tax Code of the Russian Federation is accepted.

Taxpayers should be aware that the ceiling for future fixed asset repair costs cannot exceed the average actual repair costs over the past three years.

If an organization is accumulating funds to carry out particularly expensive and complex types of capital repairs, it can increase the ceiling for deductions to the reserve for future expenses. The maximum amount of deductions is increased by the amount of deductions for financing repairs attributable to the tax period in accordance with the repair schedule, provided that similar repairs were not performed in previous tax periods.

The organization sets the standards for deductions to the reserve independently when developing accounting policies for tax purposes. The amount of deductions depends on the following factors:

· The frequency of repair of the object of fixed assets;

· Frequency of replacement of elements of fixed assets (in particular, units, parts, structures);

· Estimated cost of repair.

Example 4.

The organization plans to repair fixed assets in 2005, the costs of which, according to preliminary estimates, will amount to 76,000 rubles.

The accounting policy of the enterprise provides for the creation of a reserve for future expenses for the repair of fixed assets.

As of January 1, 2005, the aggregate value of property, plant and equipment is 830,000 rubles. Over the past three years, the actual costs of repairing fixed assets amounted to:

in 2002 - 36,500 rubles.

in 2003 - 65,300 rubles.

in 2004 - 72,500 rubles.

The organization pays advance payments for income tax on a quarterly basis. Suppose that the repairs planned by the organization will be carried out in September 2005, the actual costs of the repairs will be 68,000 rubles.

Let's calculate the average actual repair costs over the past three years:

(36,500 rubles + 65,300 rubles + 72,500 rubles): 3 \u003d 58,100 rubles.

Since the limiting amount of the reserve cannot exceed the average amount of actual expenses for the repair of fixed assets that have developed over the past three years, the amount of the reserve cannot exceed 58,100 rubles, despite the fact that the organization plans to spend 76,000 rubles on repairs

Let's calculate the annual rate of deductions to the reserve:

(58,100 rubles: 830,000 rubles) \u003d 7.0%.

If the organization pays advance payments for income tax on a monthly basis, it is necessary to calculate the monthly norm of deductions to the reserve:

7%: 12 months \u003d 0.583%.

In our example, the organization pays advance payments for income tax on a quarterly basis, so it is necessary to calculate the quarterly reserve deduction rate:

7%: 4 quarters \u003d 1.75%.

The quarterly contributions to the reserve will be:

830,000 rubles x 1.75% \u003d 14,525 rubles.

Let's determine the amount of the reserve accumulated at the time of the repair:

14,525 rubles x 3 quarters \u003d 43,575 rubles.

The accumulated reserve amounted to 43,575 rubles, the actual expenses for repairs amounted to 68,000 rubles. The amount of excess of actual expenses over the amount of the accumulated reserve is 24,425 rubles.

In accordance with the Tax Code of the Russian Federation, if the amount of actual expenses for the repair of fixed assets in the reporting period exceeds the amount of the created reserve, the balance of expenses for tax purposes is included in other expenses at the end of the tax period.

Thus, in the third quarter, for the purpose of taxation of profit, the amount of expenses for repairs in the amount of the accumulated reserve, that is, 43,575 rubles, will be taken into account as expenses. In the 4th quarter (December 31, 2005), the remaining amount of the provision - 14,525 rubles will be recognized for profit tax purposes.

The amount of the reserve for future expenses for 2005 is 58,100 rubles.

Actual expenses for repairs - 68,000 rubles.

As of December 31, 2005, the amount of excess of actual expenses for the repair of fixed assets over the amount of the created reserve of 9,900 rubles will be revealed. This amount will be included in other expenses as at 31 December 2005.

End of the example.

If the terms of the lease stipulate that the costs of repairs are borne by the lessee, the costs of repairs made by the lessee are not reflected in the lessor's accounting records.

If the lessor nevertheless bears the costs of repairing the leased property, he cannot include them in the cost of renting out the property.

If the lessor does not fulfill his obligations under the contract for the repair and the repair costs are borne by the lessor, in this case, either the lessee must reimburse the lessor for the costs incurred by him, or the lessor shall carry out these expenses at his own expense, as not reducing taxable profit.

The costs of repairing property recorded on account 03 "Profitable investments in tangible assets" are accounted for in the same manner as the costs of repairing fixed assets.

For more details on issues related to lease, you can get acquainted in the book of JSC "BKR-Intercom-Audit" "Rent".

Fixed asset lease accounting - the procedure for registering the fact of transfer of fixed assets (property) for temporary use. The legal basis for this process is the lease agreement concluded between the lessor, on the one hand, and the tenant, on the other. The rental period of the property, depending on the duration, can be:

• short-term (rental period<1 года);
• medium-term (period from 1 to 3 years);
• long-term (term\u003e 3 years).

A lease agreement may also provide for special conditions for the further transfer of the right to an asset from one person to another. Depending on the terms of the transfer of fixed assets, the lease can be:

• current - use of property without transfer of ownership;
• financed - transfer of ownership rights to the lessee upon the expiration of the use of the property in the course of the redemption of the residual value of the property (leasing).

Accounting for the lease of fixed assets (property) by the lessor

Depending on the direction of the lessor's activity, leasing an object can be considered both the main activity and a one-time transaction. If the transfer of property is included in the main activity of the organization, then account 90 - “Sales” is used in accounting. The costs arising from the transfer of property for rent are reflected in debit accounts - 20, 23, 26, 44. At the end of the month, the amount collected on these accounts is debited to account 90:

Debit 90.2 Credit 20, 23, 26, 44

When the property is leased out, the lessor continues to accrue depreciation, which is reflected in debit account 91 - “Other income and expenses”. The lessee reflects the received fixed assets to the off-balance sheet account 001.

Debit 91 Credit 02

The income received by the lessor from the transfer of fixed assets for use is reflected by the entry:

Debit 76 Credit 90.1

At the end of the reporting period, the amount received is recorded on account 90, and the financial result from the transfer of property is displayed on account 99 - “Profits and losses”.

If the transfer of use rights is a one-time transaction for the organization, then in this case it is reflected by a posting on account 91 - “Other income and expenses”. Costs arising from the lease of property are reflected in debit account 91, and income from payments are shown in credit account 91.

Lease payments include VAT. To reflect the accrual of VAT, use the following entry.

Debit 91.2 / 90.2 Credit 68

So, lease of fixed assets from the lessor involves the use of the following transactions:

Accounting for the lease of fixed assets (property) by the lessee

When accepting a fixed asset for temporary use, the lessee must reflect the value of the property received on off-balance sheet account 001. It should be noted that the lessee does not charge depreciation on the fixed asset, and lease payments are written off to expense accounts based on the entry:

Debit 20/44 Credit 76

Lease payments include VAT, so the tenant can deduct VAT by posting:

Debit 19 Credit 76 and Debit 68 Credit 19

Payment of payments for the use of the property is displayed by posting:

Debit 76 Credit 51

When returning a fixed asset, the object is removed from account 001 by posting

Credit 001

Accounting for the redemption of fixed assets (property)

Consider typical situations in accounting for the buyout of fixed assets. The redemption of fixed assets is carried out upon the conclusion of a lease agreement. In the event of a leased property purchase, the following wiring takes place:

Debit 76 Credit 51

The costs associated with the receipt of fixed assets are reflected on account 08, which also reflects the redemption value of the object paid to the lessor:

Debit 08 Credit 76

All payments previously paid under the lease agreement are related to investments in the asset and are reflected in the account. 08. They are accounted for as depreciation and are reflected in a typical transaction:

Debit 08 Credit 02

Commissioning of a fixed asset is reflected in the balance sheet by posting:

Debit 01 Credit 08

Below is a table of the main transactions for making a buyout from a lessor.

Fixed asset repair accounting

Option number 1. Renovation at the expense of the tenant

If the repair of the fixed asset was carried out by the lessee, then such costs are reflected in the expense accounts for ordinary activities. The costs include: wages to employees (Debit 20 (44) Credit 70), costs of materials and raw materials (Debit 20 (44) Credit 10), attracting third-party companies (Debit 20/44 Credit 76).

Option number 2. Repair by means of the lessor

The second option involves the implementation of repairs using the lessor's funds. This option is less common and occurs when the parties responsible for the repair of property are indicated in the contract. The costs are credited to the account of future payments for the lease and are reflected in account 20 - “Main production” or 44 - “Sales expenses”.

The amount of expenses for the repair of fixed assets is displayed in the transaction:

Debit 76 Credit 20/44

Accounting for current lease transactions of fixed assets

The lack of free funds and the necessary sources of financing for the acquisition of fixed assets sets the task for organizations to find other ways of their renewal. One of them is rent. Depending on the terms of the lease, it is divided into the following types:

• current;
• long-term;
• financial (leasing).

Each type of lease is formalized in a separate agreement. It contains the technical and economic characteristics of the object, the cost, lease term, size, procedure, conditions and terms of payment of the lease payment, obligations and responsibilities of the parties. In a current lease, the lessee leases fixed assets from the lessor in accordance with certain conditions for a strictly specified time, but not more than one year. In the case of long-term lease of fixed assets, the lessee receives objects for lease from the lessor for a long time, after which they become the property of the lessee. In operations long term lease provides for the right to buy out property by the lessee, which was previously in use by the lessor. Leasing is a financial lease of fixed assets (cars, vehicles, industrial buildings and structures, etc.) for a long-term fee for use for business purposes (income generation). Under this type of lease, only new property is leased. The subjects of leasing are the leasing company (supplier of the leased item), the lessor and the lessee. Accounting for lease transactions depends on the type of lease. With the current lease, an "Act (invoice) of acceptance and transfer of fixed assets" (form No. OS-1) is drawn up, which, together with a copy of the inventory card, is handed over by the lessor to the lessee. With the lessor, the object transferred to the current lease remains on the balance sheet, depreciation and property tax are charged on it. Rent payments in accounting reflect two parties: the lessor and the lessee. Table 1. - Accounting with the lessor Correspondence of invoices Debit Credit 1. I will lease a fixed asset object 01 "Fixed assets" subaccount "Property transferred to the current lease" 01 "Fixed asset" 2. Accrued depreciation for the month on the object leased in the current lease 02 "Depreciation of fixed assets" subaccount "Depreciation of fixed assets transferred to the current lease" 3. Charged rent, including VAT 76 "Settlements with different debtors and creditors" subaccount 3 "Settlements for dividends and other income due" 91 "Other income and expenses" subaccount 1 "Other income" 4. Calculated VAT payable to the budget on the amount of rent 91 "Other income and expenses" subaccount 2 "Other expenses" 5. Received rent with VAT 51 "Settlement accounts" 6. The rent under the agreement is presented by the lessor in advance 76 "Settlements with different debtors and creditors" subaccount 3 "Settlements for dividends and other income due" 98 "deferred income" subaccount 1 "Income received in future periods" 7. Received rental payment from tenant 51 "Settlement accounts" 8. Simultaneously for the amount of the monthly rent 98 "Deferred income" subaccount 1 91 "Other income and expenses" subaccount 1 "Other income

Commercial organizations that specialize in the leasing of buildings, premises and other types of property, consider rent as income from ordinary activities and take it into account as part of revenue from the provision of services on account 90 "Sale" subaccount 1 "Revenue", the costs reflect on account 20 "Main production". If the lease for the organization is an auxiliary type of activity, then the lessor takes into account the amount of payments for the lease of the property as part of operating income on account 91 "Other income and expenses" subaccount 1 "Other income".

Table 2. - Lessee's accounting

The content of the business transaction Correspondence of invoices Debit Credit 1. Received in the current lease of a fixed asset from the lessor at the cost of the contract 2. Accepted the lessor's invoice for the amount of the rent for the amount of VAT 20 "Main production" 23 "Auxiliary production and other cost accounting accounts 19" VAT on acquired values \u200b\u200b"subaccount 1" VAT on the acquisition of fixed assets " 76 "Settlements with different debtors and Lenders subaccount 3" Settlements for dividends and other income due " 3. The rent is listed to the lessor with VAT 76 "Settlements with different debtors and creditors" subaccount 3 51 "Settlement accounts" 4. The amount of paid VAT is presented for tax deduction 68 "Calculations of taxes and fees" subaccount "Calculations of VAT" 5. The object was returned to the lessor at the end of the lease term 001 "Leased fixed assets"

Accounting for operations under a lease agreement is regulated by order of the Ministry of Finance of the Russian Federation dated February 17, 1997 No. 15 "On the reflection in the accounting of operations under a lease agreement", approved by the chart of accounts for financial and economic activities of organizations and instructions for its use, approved by order of the Ministry of Finance of the Russian Federation dated 31.10 .2000, No. 94n (as amended by the order of the Ministry of Finance of the Russian Federation dated May 7, 2003, No. 38n), accounting regulations and other regulatory documents.

In accordance with the lease agreement, the transferred property can be on the balance sheet of both the lessor and the lessee. The lessor is financial and specialized leasing companies, brokerage leasing firms, branches of industrial corporations, and other lessees are recognized entity or a citizen registered as individual entrepreneurreceiving property for use under a lease agreement for a certain fee. The supplier of the leased property is a manufacturing organization, another legal entity or a citizen selling the property being leased.

The relations between the subjects of leasing are regulated by the Federal Law No. 164 of October 29, 1998 "On Financial Lease (Leasing)" (as amended by Federal Law No. 10 of January 29, 2002).

Table 3. - Accounting with the lessor

Correspondence of invoices Document Debit Credit Accepted invoice of the leasing company for the value of the fixed asset received under the contract 08 "Investments in non-current assets" subaccount 4 "Acquisition of fixed assets" for the amount of VAT on the purchased object 19 "VAT on acquired fixed assets" subaccount 1 "VAT on the acquisition of fixed assets" 60 "Settlements with suppliers and contractors" Purchase and sale agreement, acceptance certificate, invoice Transferred from the current account of the leasing company to repay the debt 60 "Settlements with suppliers and contractors" 51 "Settlement accounts" The object was capitalized in the amount of all costs associated with the acquisition (the initial cost of delivery, installation, installation costs), excluding VAT 03 "Profitable investments in material assets" subaccount "Property intended for leasing" 08 "Investments in non-current assets" subaccount 4 Leasing agreement, act (invoice) (OS-1 form) accepted for deduction of VAT 68 "Calculations of taxes and fees" subaccount "Calculations of VAT" 19 "VAT on purchased values" subaccount 1 Accounting information leased property to the lessee 03 "Profitable investments in material assets" subaccount "Property leased" 03 subaccount "Property intended for leasing" Leasing agreement, act (invoice) of acceptance and transfer of fixed assets (form No. OS-1) accrued debt of the lessee under the lease agreement (lease payments) 62 "Settlements with buyers and customers" 90 "Sales" subaccount 1 "Revenue" Lease agreement VAT charged on the lease payment amount 90 sub-account 3 "VAT" 68 subaccount "Calculations for VAT" Help-calculation depreciation was charged on the leased property 20 "Main production" 23 "Auxiliary production" and other cost accounting accounts 02 "Depreciation of fixed assets" subaccount "Depreciation of fixed assets leased" Accounting reference, statement of depreciation Written off the lessor's expenses under the lease agreement 90 subaccount 2 "Cost of sales" 20 "Main production", 23 "Auxiliary production" and other cost accounting accounts Reflected the financial result (profit) from leasing property 90 subaccount 9 "Profit from sale" 99 "Profit and loss" Accounting reference-calculation Reflected the occurrence of a deferred tax asset due to the retail between accounting and tax depreciation. (the accrued depreciation amount in accounting exceeds the depreciation amount for tax purposes) 09 "Deferred tax asset" 68 subaccount "Calculations of income tax" Accounting reference-calculation reflected the occurrence of a deferred tax liability due to the excess of the amount of depreciation for tax purposes and for accounting purposes 68 subaccount "Calculations of income tax" 77 "Deferred tax liability" Property leased " Accounting reference-calculation At the end of the lease agreement, ownership of the property passed to the lessee 02 subaccount "Depreciation of fixed assets, leased" Leasing agreement, act (invoice) of acceptance and transfer of fixed assets In case of return of property by the lessee at the end of the lease agreement 01 "Fixed assets" subaccount "Own fixed assets" 03 subaccount "Property leased" Leasing agreement, act (invoice) of acceptance and transfer of fixed assets

Table 4. - Accounting with the lessee
(leased property is recorded on the lessor's balance sheet)

Content of business transactions Correspondence of invoices Document Debit Credit 1. Accepted for off-balance sheet property, because the lessee is not its owner 001 "Leased fixed assets" Lease agreement, act of acceptance and transfer of fixed assets 2. Assigned lease payments for the reporting period 20 "Main production" Lease agreement 3. Reflected VAT on lease payments 76 subaccount "Lease payments debt" Lessor's invoice 4. Lease payments are listed 76 subaccount "Lease payments debt" 51 "Settlement accounts" Payment order, bank statement 5. The amount of VAT is presented for tax deduction 68 subaccount "Calculations for VAT" 19 subaccount "VAT on the acquisition of fixed assets" Accounting information 6. Upon expiration of the lease agreement 001 "Leased fixed assets" Leasing agreement, act (invoice) of acceptance and transfer (form No. OS-1) 7. The leased property was purchased at the end of the contract and accepted on the balance sheet 01 subaccount "Own funds" The act (invoice) of acceptance and transfer of fixed assets (form No. OS-1).

If the residual value of the leased property is zero, then depreciation is not charged, although the useful life has not expired.

Table 5. - Accounting with the lessor
(leased property is recorded on the balance sheet of the lessee)

Content of business transactions Correspondence of invoices Document Debit Credit 1. The lessee's debt was accrued on the contractual (redemption) value of the property 76 subaccount "Lease payments debt" 91 subaccount "Other income" Leasing agreement, accounting reference-calculation 2. The amount of VAT was charged on the contractual (redemption) value of the property 91 sub-accounts2 "Other expenses" 68 subaccount "Calculations for VAT" 3. The cost of the leased property was written off from the balance of the lessor to the balance of the lessee 91 subaccount 2 "Other income" 03 subaccount "Property leased" Act (invoice) of acceptance and transfer of fixed assets (form No. OS-1) 4. The transferred property is reflected on the off-balance sheet account until the end of the lease agreement 011 "Fixed assets leased" Leasing agreement, act (form No. O-1) 5. Received lease payments from the lessee 51 "Settlement accounts" 76 subaccount "Lease payments debt" Extract form 6. Accrued debt of the lessee in the amount of retail between the amount of lease payments and the redemption value of the property under the agreement 76 subaccount "Lease payments debt" Leasing agreement, accounting statement 7. Reflected the income (remuneration) of the lessor (proceeds from the leasing of property) in the amount of retail between the amount of payment and the repaid part of the contractual (redemption) value of the property 98 "Deferred income" 90 subaccount 1 "Revenue" Accounting information 8. VAT charged on proceeds 90 sub-account 3 "VAT" 68 subaccount "Calculations for VAT" Invoice, accounting statement 9. Reflected profit from leasing operations 90 subaccount 9 "Profit from sales 91 subaccount 9" Balance of other income and expenses " 99 "Profit and loss" Accounting reference-calculation

Table 6. –Accounting at the lessee
(leased property is recorded on its balance sheet)

Content of business transactions Correspondence of invoices Document Debit Credit 1. Reflected debt to the lessor (for the cost of the leased property and the cost of bringing it to working condition) Lease agreement, act of acceptance and transfer of fixed assets, invoice 2. Reflected the amount of VAT presented by the lessor 76 subaccount "Leasing obligations" Leasing agreement, invoice 3. Leased property put into operation 08 subaccount "Acquisition of objects under a lease agreement" Acceptance and transfer of fixed assets 4. Accrued debt on lease payments 76 subaccount "Leasing obligations" Lease agreement accounting statement 5. The lease payment was transferred to the lessor 76 subaccount "Leasing payments" 51 "Settlement accounts" Bank statement 6. VAT amount accepted for deduction 68 subaccount "Calculations for VAT" 19 subaccount 1 "VAT on the acquisition of fixed assets" Invoice 7. Accrued monthly amount of depreciation on property received on lease 20 "Main production" 23 "Auxiliary production" and other accounts for cost accounting 02 sub-accounts "Property received on lease" Fixed asset depreciation sheet 8. On the date of transfer of ownership from the lessor, the receipt of property is reflected 01 subaccount "Own fixed assets" 01 subaccount "Property received on lease" Accounting information 9. Depreciation of own object of fixed asset is reflected 02 subaccount "Depreciation of property received on lease" 02 subaccount "Depreciation of own fixed assets" Accounting information

Analytical accounting of profitable investments in material assets for each object is carried out on inventory cards. Consolidated analytical accounting of the movement of leased fixed assets is carried out in the table of analytical data to account 03 on the back of the journal-order 13-APK, which is built in the form of a reverse statement. The turnover totals in the table are checked against the data of the 13-APK order journal.

Lease of fixed assets means that an item of fixed assets (fixed assets) is provided for temporary possession and use or for temporary use. The party that leases out the fixed asset is called the lessor, and the receiving party is called the lessee (Article 606 of the Civil Code of the Russian Federation). We will talk about accounting for leased fixed assets on both sides of the lease in this material.

How the tenant keeps records

The object of fixed assets received in lease from the lessee must be accounted for separately from his own property. For accounting, not the balance sheet account 01 "Fixed assets" is used, but the off-balance sheet account 001 "Leased fixed assets" (clause 5 of PBU 1/2008,). On the debit of account 001, the leased asset is credited in the valuation specified in the lease agreement.

The accounting for lease payments by a lessee depends on how the leased asset is used. Depending on this, lease payments can be accounted for either as expenses for ordinary activities or as other expenses. In some cases, rent may be attributed to an increase in the value of own item of property, plant and equipment.

This means that the tenant's accounting entries for rent will be as follows (Order of the Ministry of Finance dated October 31, 2000 No. 94n):

Accounting with the lessor

The main question that arises for the lessor when recognizing income from the lease of a fixed asset is what income such a lease generates: from ordinary activities or other. It depends on whether the lease of fixed assets is the subject of the lessor's business. If yes, rental income and expenses are attributed to; if not, they are accounted for as (through account 91) (clauses 5, PBU 9/99, clauses 5, 11 PBU 10/99).

The basis for recognizing a lease as an object of activity is materiality, systematicity and other criteria determined by the organization c.

We present typical accounting records for accounting for leases with a lessor in the table:

Operation	Account debit	Account credit
Received rent from tenant	51, 50, etc.	62 "Settlements with buyers and customers"
Accrued rent to the tenant	62	90 "Sales", subaccount "Revenue" or 91 "Other income and expenses", subaccount "Other income"
VAT charged on rent	90, sub-account "VAT" or 91, sub-account "VAT"	68 "Calculations of taxes and fees"
Reflected the costs associated with the provision of a fixed asset for rent	20 "Main production" or 91, subaccount "Other expenses"	02 "Depreciation of fixed assets", 10 "Materials", 60, 70 "Settlements with personnel for wages", 69 "Settlements for social insurance and security", etc.

The leased asset is accounted for by the lessor either on a separate subaccount to account 01, or (if the asset was specially acquired for lease) - to account 03 "Profitable investments in tangible assets".

The lease of fixed assets is the transfer of an object for temporary use. The lessor transfers the fixed asset to the lessee under a lease agreement. The lease term can be any: less than a year - short-term lease, more than a year - long-term lease.

The lease agreement may provide for the transfer of ownership of the leased fixed asset.

How is the accounting of the lease of fixed assets from the lessor and the lessee, which transactions should reflect both parties. How are the expenses for the renovation and reconstruction of the rented object taken into account?

Accounting for the lease of fixed assets from the lessor

Renting out fixed assets can be a regular activity of the organization, or it can be a one-time transaction. At the same time, the account for accounting for income and expenses from rental operations is different.

If the process of leasing fixed assets is a normal activity of the company, then account 90 "Sales" is used.

All expenses associated with the transfer of an item of fixed assets for rent are collected on the debit of cost accounting accounts (20, 23, 26, 44). After that, at the end of the month, they are debited in one amount to the debit account. 90 by posting D90 / 2 K20, 23, 26, 44. The expenses can be depreciation, which the lessor continues to accrue every month, or expenses for repairs, if it is performed by the lessor.

All income related to the lease of the object is reflected in the credit account. 90, in particular, these are incoming lease payments, posting D76 K90 / 1.

At the end of the reporting period on the account. 90 is determined by the financial result, profit or loss, which is reflected in the account. 99.

If the transfer of fixed assets to lease is a one-time transaction, then account 91 "Other income and expenses" is used to reflect lease transactions.

Expenses for leased items are reflected in the debit of account. 91, income in the form of lease payments on the loan account. 91.

Lease payments must include VAT, so the lessor must charge VAT on the payments received (posting D91 / 2 (90/2) K68) and pay it to the budget.

Postings that are made in accounting lessor:

Tenant accounting

The lessee accepts the fixed asset under the lease agreement to off-balance sheet account 001, reflects on the debit of this account the value of the object specified in the lease agreement.

The organization does not charge depreciation for leased fixed assets.

Lease payments that the organization pays are written off to the accounts of expenses for ordinary activities by posting D20 (44) K76.

Lease payments include VAT, so the lessee has the right to allocate VAT and send it to deduction (entries D19 K76 and D68.VAT K19).

Payment of lease payments to the lessor is reflected by entry D76 K51.

When the leased property is returned, it is removed from the off-balance sheet account 001 (K001).

Postings for accounting for leased fixed assets from the lessee:

Redemption by a lessee of a leased fixed asset

If the organization decides to buy out the leased fixed asset, then it must pay the surrender value to the lessor (entry D76 K51).

As usual, when a fixed asset is received on the balance sheet of the enterprise, all costs associated with its receipt are collected on account 08. So it is in this case.

The surrender value that the entity has paid to the lessor for previously leased property, plant and equipment relates to capital investments to this fixed asset and is reflected on account 08 (posting D08 K76).

Previously paid lease payments also refer to investments in fixed assets and are also reflected on account 08. These payments will be considered as the accrued depreciation on the object, the posting has the form D08 K02.

After that, the object is put into operation by wiring D01 K08.

Leased asset buyback transactions:

Rented OS repair

1. Renovation at the expense of the tenant

Routine repairs can be carried out by the tenant himself at his own expense, then all repair costs are written off to the cost accounting accounts for ordinary activities. Costs can be spent materials (posting D20 (44) K10), salaries of employees of the organization involved in repairs (posting D20 (44) K70), third-party services (posting D20 (44) K76).

Postings for posting repair costs at the tenant:

2. Repair at the expense of the lessor

If the lease provides for the repair of fixed assets at the expense of the lessor, then the lessee's expenses can be offset against future lease payments. At the same time, all expenses of the tenant for repairs are still written off to account 20 or 44 by the entries indicated above.

After that, all repair costs collected on account 20 (44) are debited to account. 76, which keeps records of all lease payments, posting D76 K20 (44).