Goods - property owned by the organization and put up for sale. At the same time, the type and cost do not matter. The goods can be both real estate and small items. Account 41 in accounting is used to reflect information about the availability of goods and their sale.
general characteristics
"Goods" - an inventory account of the material assets of the enterprise. Novice auditors ask the question: "Account 41 in the accounting asset or liability of the organization?" The answer is not as complicated as it might seem. You need to understand that the account itself does not apply to an asset or liability. But the goods accounted for in account 41 can be easily identified in the funds or sources of the organization. An asset is a property right of a company, in other words, everything that belongs to it. Goods are tangible property, which means that they are accounted for in the asset.
Based on the answer received, how can you describe account 41 in accounting? Active or passive? Or maybe active-passive? There should be no doubt, account 41 in accounting is active. The receipt of goods is displayed in debit, and their write-off and sale in credit. At the end of the reporting period, only a debit end balance is generated.
Account 41
The “Goods” account is used by enterprises in the trade, supply and marketing sectors, as well as those specializing in catering. In addition to goods, the account takes into account packaging produced independently or purchased. In industry, an invoice is used only if materials or products are purchased for a separate sale.
Depending on the policy of the company, goods are recorded at the selling, accounting or purchase price. When using sales prices, the difference between the cost of goods and wraps (discounts) is displayed on account 42.
The goods accepted for storage under responsibility and for the commission are recorded on accounts 002 and 004. Account 41 in accounting has its own sub-accounts for grouping goods of similar purpose.
Account 41 in accounting - subaccounts
The accounts of analytical accounting facilitate the process of grouping and evaluating the results of the financial activities of the organization. For the account "Goods" the accountant uses sub-accounts:
- 41.1 - for accounting for goods in storage facilities;
- 41.2 - for the accounting of goods intended for retail trade;
- 41.3 - to account for containers under goods or empty;
- 41.4 - to account for purchased products.
Subch 41.1 is used to control the movement of stocks of goods in the warehouses of the enterprise. Public catering uses it to account for products located in refrigerators and other food storages.
Subch 41.2 is used for retail accounting. Catering chains additionally use it to account for glassware. Subch 41.3 helps keep track of containers under goods and empty. Subch 41.4 use to account for the availability of goods and their movement, applying the accounting procedure like production stocks.
Correspondence
Account 41 in accounting is a method of monitoring and describing the process of purchasing and selling goods, which leads to correspondence with most of the main accounts. Account 41 is debited in the posting with accounts:
- settlement operations (60, 63, 68, and 71-78);
- capital assets (80, 88);
- stocks (14);
- production accounting (20, 23, 26, 29, 37);
- product (42);
- accounting for cash transactions (50).
The account "Goods" corresponds to a loan with accounts:
- assets (06);
- stocks (10, 13, 14);
- production and commodity accounting (20, from 43 to 46);
- accounting for cash transactions (58);
- accounting calculations (62, 63, from 76 to 79 except 77);
- capital assets (80, 84, 87, 89)
In the process of compiling quotes, do not forget that account 41 in accounting - active.
Reception at cost
The company in the accounting documents determines the procedure for accounting for goods received. Posting at actual cost involves the use of supplier prices indicated in accounting documents. In addition, the cost may include payment for the services of transport companies and the procurement process. The nature of the accounting for these expenses has the right to determine the organization itself.
When auditors in practice arrive for the first time in goods, a serious question arises: "To open account 41 in accounting with or without VAT?" Violation of the wiring can lead to problems with the transfer of tax, it is worth sorting out. If the delivery company issues an invoice, then VAT must be allocated, only to a separate invoice. The arrival of the goods should be made at cost minus tax.
Account 41 is debited in accounting with VAT payable with credit. 60, after which the amount of tax is allocated and transferred to the budget.
Case Study
You can more clearly trace the sequence of accounting operations by considering a specific case. We have the following initial data: the company acquired borrowed funds in the amount of 480,000 monetary units (hereinafter referred to as units). All the money spent on the purchase of goods (of which the tax - 80 000 units.). During the use of the loan, the borrowing bank accrued interest in the amount of 60,000 units. Accounting policy firms regulates the accounting of interest on the operating expenses account. Implemented the implementation of the entire consignment of goods for 720,000 units. (of which the tax is 120,000 d. units).
| Dt | Ct | Amount, p. | Operation Characteristic |
| 51 | 66 | 480 000 | loan amount transferred to the bank account of the company |
| 41 | 60 | 400 000 | goods are capitalized (excluding tax) |
| 19 | 60 | 80 000 | VAT is allocated from the amount of the cost of purchased goods |
| 68 | 19 | 80 000 | VAT is transferred to the state budget |
| 91.2 | 66 | 60 000 | reflected the accrual of bank interest on a loan |
| 90.2 | 41 | 400 000 | the price of the goods for sale is debited |
| 62 | 90.1 | 720 000 | revenue from sales of goods recognized |
| 90.3 | 68 | 120 000 | accrued tax for goods sold |
| 51 | 62 | 720 000 | payment received from buyer |
A good example of the process of posting goods at the enterprise clarifies the situation, and one does not have to choose whether to open account 41 in accounting with or without VAT. No matter what the cost of the goods, VAT on account 41 does not include.
Sales Price Accounting
If the organization carries out posting of goods at the subsequent sale price, it becomes necessary to use account 42. Sch. "Trade margin" takes into account income from the sale of goods and VAT.
An accountant performs such quotes with correspondence of accounts 41 and 42:
- Dt 41 Kt 42 - the mark-up on the received goods is reflected.
- Dt 90.2 Kt 42 - deducted the amount of the margin when making a sale.
- Dt 41 Kt 42 - write-off of the discounted value of the goods due to the extra charge made earlier.
- Dt 91.2 Ct 41 - the difference between the mark-up and the discounted value is written off (in cases where the mark-down exceeds the mark-up amount).
- Dt 44 Kt 41, Dt 44 Kt 42 - goods and their trade margin are written off for the needs of the enterprise.
- Dt 94 Kt 41, Dt 94 Kt 42 - the amount of shortage / damage to the goods and its trade margin have been written off.
Example of accounting at the selling price at the enterprise
Suppose a contingent company performed the following business operations: purchased goods worth 12,000 rubles (including VAT 2,000 rubles). The established margin rate is 30%. The accountant performs the following calculations:
- (12 000 - 2000) × 30% = 3000 p. - the amount of the margin on the goods.
- (10,000 + 3000) × 18% = 2340 p. - Calculated VAT for the sale value at the rate of 18%.
- 3000 + 2340 = 5340 p. - calculated the total margin for the goods, including VAT.
The process is described by the following accounting entries:
| Dt | Ct | Amount, p. | Operation Characteristic |
| 41 | 60 | 10 000 | the goods are capitalized and accepted to the warehouse excluding VAT |
| 19 | 60 | 2 000 | VAT is allocated from the amount of purchased goods |
| 68 | 19 | 2 000 | VAT deduction completed |
| 60 | 51 | 12 000 | the debt to the supplier has been repaid from the bank account |
| 41 | 42 | 5 340 | goods margin recognized |
| 90.2 | 41 | 15 340 | written off the amount of goods for sale |
| 90.2 | 42 | 5 340 | mark-up amount deducted from the cost of goods |
| 62 | 90.1 | 15 340 | revenue from sales of goods recognized |
| 90.3 | 68 | 2 340 | accrual of VAT on goods sold |
| 51 | 62 | 15 340 | the buyer repaid the receivables for the goods |
The expenses incurred during the delivery of goods from the supplier on transport and other services are credited with account 44 (Dt 44 Kt 60). If at the end of the reporting period the goods paid by the company are still not delivered, the accountant posts the Dt 41 Kt 60, but no posting is made to the warehouse. When the goods arrive at the disposal of the company, the amount of VAT is deducted and the cost of the goods is listed in the debit account. 60.
Features of shipment of goods to customers
In cases where delivery contract between the buyer and the manufacturer determines the transfer of ownership of the goods and material liability for it, account 45 is used in accounting. At the moment when the goods are actually shipped to the buyer, posting is made: Dt 45 Kt 41. After holding this quote, it is considered that the rights and The buyer is responsible for the product.
Accounting for goods in 1C
Commercial and industrial enterprises use commercial accounting programs to simplify the work of auditors. This reduces time and allows you to visually assess the assets and liabilities of the company. Account 41 in accounting 1C corresponds with the same accounts as in the classic version.
For capitalization of goods, it is necessary in the main menu to select the item "Purchases" sub-item "Receipt (acts, invoices)." The product filling form will open. Consider an example of the implementation of retail transactions through 1C. You must perform the following actions in the program:
- Indicate the date of arrival or date in the supplier’s document.
- Choose: counterparty - supplier, contract - main, warehouse - retail.
- Fill in the tabular part without nomenclature.
- Indicate the amount of goods without VAT and post a document.
Reflection of revenue and accounting margins in 1C
After completing all the previous paragraphs, the "Products" account and its quotes will open. To reflect the proceeds from retail trade, you need to open the item "Bank and cashier" sub-item "Cash documents" in the main menu of the program and create a new receipt order as follows:
- Identify the type of operation: "retail revenue".
- Fill in the fields: date, amount of payment (select "excluding VAT").
- Post a document.
After viewing the postings made to the account, go to the "Operations" sub-item "Closing the month". In the menu that opens, select the closing month and the item "Calculate the trade margin on the goods sold." Account entries will indicate that the mark-up has been deducted. Returning to the "Closing the month" menu, select the "Write off trade margin on sold goods" item, after which the report of the trade margin on sold goods for the selected month will open.
An example of the total accounting of goods was considered using the program 1C: Accounting 8.3 (rev. 3.0).
Knowledge consolidation
Having carefully studied all the information presented and summed up, you can identify the key points of the characteristic and accounting of the account. 41:
- goods are among the assets of the enterprise;
- account 41 - active, inventory;
- upon receipt of the goods, the account is debited excluding VAT;
- the sale of goods leads to the write-off of amounts from account 41;
- trading margin is reflected by the posting Dt 41 Ct 42.
Regardless of how accounting is carried out at the enterprise (in 1C or in writing), knowledge of the properties of account 41 will simplify the work of a novice accountant.
