Account 66 in accounting is used to reflect information about the loans of the enterprise. It shows the movement of funds accepted by the organization for a period not exceeding 12 months. Next will be presented accounting advice on this article. 
Reflection of Amounts
Funds received by the enterprise for a period of less than 12 months are credited to account 66 (credit). The following articles are debited:
- "Cashier" (c. 50).
- "Settlements with contractors / suppliers" (c. 60).
- "R / s" (c. 51).
- "Special accounts" (c. 55).
- "Foreign currency accounts" (c. 52).
Movement of amounts on bonds (accounting advice)
Funds raised by the issuance and placement of these securities are recorded separately. If the offering price of bonds is higher than their face value, then the entry is made in dB cf. 51. In this case, accounts 66 and 98 are credited. The latter reflects income for the coming periods. Securities at par value are recorded in Art. "Short-term loans" (account 66). Cf. 98 reflects the amount in excess of the cost of accommodation over par. These funds are evenly written off over the period of the bonds circulation in the mid-term. 91. The latter shows other expenses / income. When placing securities at a cost less than the nominal, the difference is charged additionally evenly during the period of circulation with Cd. 66 to DB 91.
Separate reflection of funds
The interest due on the payment of loans received is transferred to Cd to account 66. Postings are made with the account. 91. Accrued interest reflect separately. Account 66 in accounting is debited to the amount of repaid liabilities. Entries include items that record the movement of funds. The amounts reflect on them on Cd. Unpaid timely obligations are fixed separately. Analytics are conducted by type of loans and credits to financial organizations that have provided them. 
Discount
Settlements with credit companies on the operation of accounting bills and other debt instruments, the repayment period of which is not more than 12 months, are reflected in a separate sub-account. The bill holder shows the face value in cd. The number of the offsetting account is 51 or 52 and 91. The first two reflect the amount actually received, the last - the percentage paid by the organization. Closing of the operation is carried out on the basis of the notice of payment to the financial company.
The payment amount is transferred in dB to account 66 in accounting. The record credits items fixing receivables. When the holder company returns the money received from a financial institution at a discount or other debt obligations, due to the non-fulfillment by the drawer or other payer of the contractual terms for payment, an entry is made in DB to account 66 in the accounting records and Cd of the items recording the movement of money. At the same time, unpaid amounts by buyers, customers and other counterparties continue to be reflected. Bookkeeping is carried out according to the relevant articles of receivables. 
Controversial moment
Settlements for short-term loans and loans within a group of interconnected companies, the activities of which are formed, are recorded separately. Here, according to some experts, there is some inconsistency of the developers of the plan. In terms of financial investments, they combined these investments on one account. As for the funds raised, according to the logic of the developers, they should be divided into debts lasting more than 12 months and less than a year.
Specificity
The 66th account in accounting is considered very important. It reflects loans and other borrowed funds. Moreover, the loans themselves are divided into short-term (less than a year) and long-term (more than 12 months). The latter is shown on cf. 67. Account 66 is considered predominantly passive. However, a debit balance may form on it if more is deducted than was due for payment. Next, we will describe how bookkeeping is carried out on situations most often encountered in practice. 
Traditional case
A loan is issued by crediting funds, or the lender repays the financial obligations of the debtor. In the latter case, an assignment agreement is concluded. In the usual crediting of funds, the account is debited. 50-52, 55. In the second case, funds are transferred to DB articles 60, 76. Account 66 is credited in both options for obtaining a loan.
Issue and sale of bonds
The presence of the securities themselves does not affect the balance sheet accounts. However, as bonds are sold, entries are made: DB 50, 51 Cd 66.
In the instructions to the plan there is an indication that the funds raised by the issuance and placement of bonds are recorded separately. Previous recommendations described one option for accounting for sales - at a cost in excess of face value. The new instructions contain explanations of the situation when the sale is carried out at a lower price. When placing bonds at par, problems usually do not arise.
The above record will be considered sufficient. If the sale of bonds is carried out at a cost higher than the nominal, the difference is recorded on the account. 98.1. This amount should subsequently be debited during the entire period of circulation of the paper. For this cf. 98.1 is debited. The offsetting account number is 91.1 (other income). When selling bonds at a price below the nominal, the difference is accrued evenly throughout the circulation period. Account 66 is credited, and account 91.2, respectively, is debited. 
Interest payment
It takes place almost always when receiving loans or loans. The specifics of double entry is that when receiving funds, only the amount received is shown. Moreover, the real amount of debt in some cases is much larger than it. This difference arises from the accrued interest on the basis of debt. Experts see the solution to this issue in the accrual of interest at the end of the period in which they are calculated. That is, the following entry is proposed: DB 91.2 Cd 66. Such an entry is made in each reporting period.
PBU Explained
The above approach meets the requirements of the accounting provision (15/01). In it, in particular, it is said that debt is reflected with the inclusion of interest due at the end of the period in accordance with the contractual terms. In paragraph 12 of PBU, expenses on loans and borrowings received are recognized as operating expenses. They relate to the period in which they were actually produced. However, it should be noted that not all of these costs relate to operating expenses. For example, this is the case if the funds are received and used to form an investment asset or are aimed at prepayment of work, material assets, services. In addition to the costs related to loans and borrowings include:
- Interest due on funds received.
- Discount on bonds.
- The difference between the amount indicated on the bill of exchange and the funds actually received / equivalents when placing the paper.
- Amounts and exchange differences that relate to interest due on loans received in foreign currency or from. e.
- Costs of copying and duplication of work.
- Costs of consulting and legal services.
- The cost of the examination.
- Amounts of fees and taxes (in cases provided by law).
- Costs of communication services.
- Other costs directly related to obtaining loans / placement of obligations.
Additional costs may be pre-recorded as receivables. Subsequently, these costs will be charged to operating expenses over the period in which the obligations assumed will be paid off. 
MPZ costs
If the company uses borrowed funds for advance payment of inventories, work, services, other values, then the cost of servicing such loans is attributed to an increase in receivables. After receipt of the MPZ and other objects in the organization, the subsequent accrual of interest, other expenses are reflected in the statements according to the general rules - with the inclusion of these expenses in the operating costs of the borrower.
Foreign currency loan or. e.
Upon maturity, an exchange rate or amount difference may form. In the previous instructions, it was indicated that analytical accounting is carried out for individual terms and credits. The new recommendations do not. However, this does not mean that the specialist should refuse such accounting. In accordance with the requirements of RAS 15/01, analytics should be organized in the context of overdue and urgent debt. The latter should be understood as obligations whose repayment time has not yet arrived or has been prolonged (extended). Debt acts as overdue, the term of payment of which under the contract has expired. After a specified period for the repayment of obligations, the borrowing company must ensure their transfer from one category to another. The operation to convert fixed-term debt into overdue is carried out on the day following the day on which, under the terms of the loan agreement (loan agreement), the borrower was required to repay the principal amount of the debt.
