Account 57 “Transfers on the way” - active, which serves to receive generalized information about the movement of money sent to the company’s accounts, but not yet received. The amounts listed on it are subject to frequent and thorough audits of auditors.
The audit process and why it is needed
Audits have an understandable purpose - reporting control for the economically stable existence of the organization. The legality and reliability of the information provided by the accountant is the basis for the correct accounting of the money of the enterprise. The audited company must comply with the following rules:
- provide reliable information on the account balance 57;
- timely transfer income from the activities of the organization;
- correctly reflect the accounting of foreign exchange transactions.
The audit is based on a thorough study of all primary accounting registers that lead to the appearance of entries in the "Transfers in transit" account.
Accounting characteristic
57 accounting account Accounting is a way of a modern description of the process of transferring funds to bank accounts. Almost every trading organization transfers the amount from the cash desk and revenue for the reporting period to r / s. With such operations, the use of 57 accounts begins, which allows accounting to be conducted more reliably and continuously.
In addition to the funds transferred by the organization, transfers en route include amounts sent from buyers to the account of goods or services received, but who did not manage to be credited to the current account before the end of the reporting period. The funds sent for currency conversion are also debited to account 57.
Account application
Account 57, according to the order Minister of Finance of the Russian Federation, serves as a source of information on the movement of money in ruble and foreign currency equivalent. Its use occurs in cases where the transfer of funds to a bank account is delayed for a period of 1 day or more from the moment of sending. In addition to the bank, the organization uses the services of savings banks and post offices for settlement transactions.
Mandatory presence of the basis in the form of primary accounting documents. These are receipts of executive institutions, as well as accompanying statements for the delivery of revenue to collectors and other accounting registers. The movement of foreign currency funds should be organized separately from other transfer operations.
Correspondence with other accounts
Account 57 is active, which means that any receipt of funds is recorded in debit, and debit is in credit. At the end of the reporting period, a debit balance is formed, or the account is closed if the funds on the way managed to go to the main bank accounts. Based on the characteristics of the account, you can distinguish its correspondence on debit and credit with other accounts.
Cf. "Transfers in transit" is debited with accounts:
- cash (cf. 50, 51 and 52, “Intra-company settlements”);
- settlements with buyers and creditors (accounts 62, 64, 76);
- Settlements with affiliates (c. 78);
- sales of products (accounts 45 and 46);
- profit and loss (cf. 99).
Closing account 57 - correspondence on a loan - most often occurs on the account. 50, 51, 52 and 64, 73. The perfect posting confirms the fact of crediting funds to the destination account.
Postings to account 57 when depositing money from the cash desk
Money is withdrawn from the cash desk using the Transfers in transit account when the duration of the operation takes more than 1 day. Amounts are deducted from the organization’s cash desk in the following cases:
- it is necessary to replenish the current account;
- in order to avoid exceeding the limit of money at the box office;
- you need to credit money to a corporate card account.
Additionally, you can consider the situation when there is a transfer from one current account of the organization to another. Accounting entries are also compiled using account 57.
| Dt | Ct | Amount, p. | Characteristics of an accounting transaction |
| 57 | 50 | 20.000 | money in rubles was handed over from the cash desk to a bank account |
| 51 | 57 | 20.000 | transferred money was successfully credited to a bank account |
| 57 | 51.01 | 140.000 | the amount has been sent from settlement account A to settlement account B |
| 51.02 | 57 | 140.000 | funds are transferred from current account A (51.01) to current account B (51.02) |
| 57 | 50 | 85.000 | money is directed to a corporate card account |
| 55.01 | 57 | 85.000 | received funds to the organization’s corporate card account |
It is important not to forget to use account 57 when transferring amounts from the cash desk to a bank account. Perhaps the posting of Dt 51 Kt 50 more simply describes the process of transferring the cash content of the cash desk to a bank account, but this operation is not reliable. After all, funds are not credited at the same time they were sent. Only after the actual implementation of the operation is it possible to conduct such a quote.
Currency operations
Foreign currency funds are recorded on an active account 55. Circulation is carried out both in ruble and foreign equivalents in various payment forms, except bills of exchange. Each of the payment forms implies the opening of a corresponding sub-account.
When converting a company’s currency, account 57 is used. Depending on the type of transaction, sub-accounts are opened:
- 57.1 - currency for sale;
- 57.2 - currency for sale deposited by the bank;
- 57.3 - cash in rubles for the purchase of foreign currency.
It is worth noting that account 57.3 remains open until the organization acquires the currency in the amount of the transferred rubles.
Subaccount 52.2 reflects foreign exchange transactions that are carried out outside the Russian Federation on the accounts of foreign companies. It is debited when making a transfer by foreign companies in favor of the organization, as well as in calculating bank interest for the use of funds. Credit account shows operations related to:
- transferring funds to the main bank account of the company;
- currency account maintenance fee;
- payment of expenses to employees of the organization;
- transfer of funds related to the maintenance of a foreign branch.
Payment of expenses to employees may be carried out from account 52.2 only with the special permission of the Bank of the Russian Federation.
The exchange rate difference arising on account 57 is debited to the credit of sub-account 91 “Other income”. If in the reporting period it is negative, the account corresponds with the debit of subaccount 91 "Other expenses". Postings are made only on the basis of an accounting statement.
Foreign currency transactions
Currency transactions are an important component of cash accounting and settlements. To transfer funds in foreign equivalents, organizations use an account 57. Postings that are common in the course of operations are considered in the table:
| Dt | Ct | Characteristics of an accounting transaction |
| 57.3 | 52 | Currency converted to convert to rubles |
| 91 | 57.1 | in rubles debited total from the sale of foreign currency |
| 76 | 57.2 | after transferring funds to a foreign branch, the currency in rubles is deducted from the account |
| 57 | 91.1 | recognized a positive difference in the exchange rate |
| 91.2 | 57 | negative exchange rate difference recognized |
Proper compilation of correspondence accounts will reduce the risk of errors in the accounting registers and financial statements.
Acquiring Operations
Acquiring - the process of paying for goods or services using a special card. Payment can be made both through online resources online, and with a regular purchase in a store. As payment cards issued and serviced by the bank plastic cards of the class VISA, MasterCard and others. The POS terminal serves as a means of communication between the service user and the banking organization.
A company using acquiring operations enters into an agreement with a bank. The latter is due the set percentage of the commission for the rendered instant payment services. The organization’s revenue is transferred only after receiving a fiscal check - slip. This is a document confirming the execution of a payment card transaction. One of its copies is transferred to the accounting department of the organization.
Accounting Acquisition
Profit from the sale of goods or the provision of services through payment through a POS terminal is transferred to the company account only after a bank audit and deduction of a commission by it.
To correctly reflect the accounting operations, use "Transfers in transit" - account 57. The transactions that occur during this can be seen in the table:
| Dt | Ct | Characteristics of an accounting transaction |
| 57 | 90.1 | recognized profit from sales paid by credit card |
| 90.3 | 68 | accrued VAT on the amount received |
| 51 | 57 | the amount of profit credited to the bank account of the organization |
| 91.2 | 57 | Acquiring company expenses |
Depending on the method of accrual of income, its recognition will be carried out at different times. The accrual method involves the use of a posting of Dt 57 Kt 90.1, regardless of the period in which the funds arrived, and considers the date of receipt of income to be the date of implementation. If the company uses the cash method, the amount is written off to income when the money from the sale is credited to account 51.
An example of acquiring accounting in an enterprise
Consider the process of accounting for non-cash payment by credit card at a contingent enterprise H. Cashier at the end of the shift generates a Z-report that contains the following information: the amount of proceeds from sales by bank transfer - 180 000 p. (of which VAT - 27,457.63 rubles). Data is transferred to the accountant, who makes the postings:
- Dt 57 Kt 90.1 - reflected the receipt of proceeds from the sale of credit cards - 180 000 p.
- Dt 90.3 Ct 68 - accrued VAT from sales - 27 457.63 p.
- Dt 51 Kt 57 - the money received on the account of the enterprise minus the commission - 177 300 p.
- Dt 91 Kt 57 - shows the commission for banking services provided 1.5% = 2700 p.
57 An accounting account is one of the main cash accounts used by an enterprise to make payments in rubles and foreign currency.
