To determine the financial result at the next month-end closing during the year or at the closing of the reporting year in December, it is necessary:
Carry out a monthly write-off of financial results for core activities and other operations from sub-accounts 90/9 and 91/9 to account 99;
reflect the amount of accrued tax in the accounting data when applying the simplified tax system.
In this case, on the the benefit of using our student database last day of this year, the net financial result of the reporting period is recorded in account 99, expressed as profit or loss. When the size of this indicator is determined, it should be attributed to account 84 "Retained earnings or uncovered loss". In this case, the following correspondence is formed:
Dt 99 sub-account “Net profit or loss” – Kt 84 – for the amount of net retained earnings.
Dt 84 – Kt 99 sub-account “Net profit or loss” – for the amount of net uncovered loss.
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Financial result postings
Account 99 is used to summarize the financial results of each month cumulatively from the first month of the reporting year. Entries on it should be made at the end of each month. Throughout the year, the account balance or balance reflects the amount of net profit, which is indicated in the corresponding line of the financial results report. In addition, in the interim financial statements, account 99 is used to form the amount in the line "Retained earnings or uncovered loss".
The accumulation of data on the results of work for previous years is carried out using account 84. It is formed by transferring the balance from account 99. This type of transfer is also called balance reformation and is carried out on the last day of the reporting year. The balance of account 84 can only be viewed in the balance sheet in the same line of the third section.
Information to account 99 comes from the following accounts:
90 "Sales";
91 "Other income and expenses".