73 is an account an account ... is an account 73 active or passive?

73 an accounting account is a way of reflecting information on all calculations with company employees, with the exception of accountable amounts and wages. The list of operations recorded on the account may include loans granted for housing or its construction, reimbursement of financial liability and many other calculations.

Account Description

For the correct reflection of business transactions on account 73, it is necessary to understand its structure. So what exactly 73 score: active or passive? Score takes into account calculations with staff, which may reflect both the funds and the sources of the organization. In connection with this characteristic, the account is active-passive with a one-sided debit balance and shows signs of an active account.

The initial debit balance means the employee owes to the organization. The value can be found in the balance sheet of the last reporting month in the group of articles "Accounts receivable".

Analytical accounting on account 73

To organize accounting of settlements with employees for operations not related to wages and reporting amounts, a synthetic 73 account is used. Depending on the type of calculation, sub-accounts of the first level are opened.

For example, an organization may use:

• 73.1 - to reflect the calculations on loans granted to the employee;
• 73.2 - to account for the amounts of material damage.

As a loan, the organization provides the employee with an amount for the construction of a house, rental housing and other property needs.

Material damage is accrued depending on the type of liability. Full compensation of costs involves the repayment of the entire amount of damage, partial - withholding the amount not exceeding the average monthly earnings of the employee.

For each employee of the organization, it is necessary to open a sub-account of the second level for better accounting and systematization of data.

Correspondence with other accounts

Account 73 debit reflects an increase in receivables. This may mean the issue of money from the cash desk or from the current account, attribution of material damage or marriage to a specific employee and other operations on the issue or accrual of a debt amount. 73 account is debited with accounts:

• accounting for money (V section);
• production costs (section III);
• calculations;
• financial result.

Account credit means a reduction in accounts receivable by repaying them and corresponds to the debit of accounts for accounting:

• goods;
• of money;
• settlements with staff on salaries or settlements with debtors and creditors;
• financial result.

It is worth remembering that an increase in employee debt will always be reflected in the debit of the account, and a decrease in credit.

Subaccount postings 73.1

73 account may have several sub-accounts, the use of which is regulated accounting policy organization. We conditionally assume that the company applies subaccount 73.1 to account for settlements with employees on loans granted to them.

As can be seen from the table, the organization has the right to withhold the amount of debt from the employee’s salary. If the retained funds are still not enough to repay the loan amount, the balance is written off to the financial result (account 91.2).

Subaccounting 73.2

Subaccount 73.2 can be used to reflect the amount of material damage that the employee must reimburse in a timely manner.

If the employee does not pay the required amount, it is used score 70 to write off damage from wages. Information on the final amount of property damage is collected using accounting data.

The deduction of amounts from the employee’s wages is usually made with his written application, which must be submitted within two weeks from the date of detection of the damage. The deduction from payment for labor should not exceed the amount of the average monthly earnings of the employee.

Settlements on account 73 for other operations

In addition to the widespread payments for the compensation of material damage and repayment of the granted loan, account 73 "Settlements with personnel for other operations" is used to:

• withholding accountable amounts if they cannot be deducted from the employee's salary;
• payment of employee compensation for the use of personal property for work purposes;
• write-offs of expenses or losses from marriage;
• reflection of the debt amount from the sale of uniforms to the employee;
• accounting for the amount required to return for the real estate sold by the organization to the employee or the services rendered.

If necessary, appropriate sub-accounts are opened for each of the listed operations.

Postings to other subaccounts of account 73

Consider the business operations on account 73, for which sub-accounts can be opened.

An account is debited whenever a company has a debt obligation to an employee or if the organization itself has paid the compensation payments due.

Credit account entries 73

73 an account is credited when an employee makes a payment on previously set amounts or when calculating compensation payments.

73 accounting account is one of the ways to reflect the calculations with employees. Not all payments and penalties can be reflected on accounts 70 and 71, which explains the use of an additional account that simplifies accounting.