Guarantee accounting. Obtaining a bank guarantee: accounting and taxation. Accounting for a bank guarantee from the principal: postings

Today, a bank guarantee is one of the most popular services. With its help, they insure financial risks that sometimes arise when a counterparty refuses to fulfill its obligations in connection with the execution of a contract.

On January 1, 2014, the new 44-FZ “On the contract system” will come into force. In it, the bank guarantee will be used in a much more expanded version, which means that the accounting department will have more questions about how to account for accounting expenses, how and in what way to reflect transactions?

First of all, we need to explain what a bank guarantee is?

This is an obligation of a bank (or a credit institution or an insurance organization) in writing (or electronically), which it issued at the direction of another person, called the principal, to pay the creditor (beneficiary) a sum of money in accordance with the terms of the contract. The guarantor pays the amount fixed in the contract if the beneficiary makes a request for this in writing. Action bank guarantee begins on the day of its issue, and the validity period is indicated in the contract. It can be concluded for any amount and for any period with both legal entities and individual entrepreneurs.

In some cases, a bank guarantee must be provided. For example, it is provided before the conclusion government contracts, according to the new 44-FZ, it can also be provided to ensure participation in tenders, auctions and competitions.

What documents can confirm the validity of accounting for a bank guarantee?

Sometimes an accountant has a question: how can all this be documented? Of course, bills and invoices are provided along with the bank guarantee itself, but sometimes the guarantee is provided in the form of an electronic message. What to do with this option of providing a bank guarantee?

The fact is that in accordance with paragraph 3 of the Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation dated March 23, 2012 N 14 “On certain issues of dispute resolution practice .....” a bank guarantee issued in the form of an electronic message using the SWIFT telecommunication system is identical to a bank guarantee in writing.

And if, when issuing a bank guarantee, certain requirements, sometimes imposed by the beneficiary or guarantor on the form of the guarantee, were not met, then this is not a reason not to accept it for accounting. Stakeholders quite legally they can provide various evidence that can confirm this transaction.

Bank guarantee - its distinctive features

A bank, credit institution or insurance organization always acts as a guarantor. Naturally, a bank guarantee is not issued to the principal free of charge, which means that the accountant will need to take into account the transactions carried out on the accounting accounts.A bank guarantee cannot depend on the underlying obligation. In addition, this guarantee cannot be revoked, that is, it is irrevocable. Rights under a bank guarantee cannot be transferred to another person, unless, of course, otherwise provided in the document itself.

The bank guarantee must indicate the period for which it is issued. If the period is not specified, then it (bank guarantee) in accordance with Art. 432 of the Civil Code of the Russian Federation is considered not to have arisen. In this case, the guarantee period may be equal to, greater than, or less than the period for fulfillment of obligations.

Typically, the guarantee specifies who the beneficiary is, but due to established dispute resolution practices, if the beneficiary is not indicated in the document, the bank guarantee is still considered valid.

If a guarantor issues a bank guarantee to a beneficiary without a prior written agreement between the principal and the guarantor, the guarantee is not considered invalid. However, before issuing a bank guarantee to the beneficiary, the principal may enter into an agreement with the guarantor, which will stipulate the conditions under which the bank guarantee will be concluded. In the contract, the guarantor may stipulate, in particular, the right to demand from the principal, by way of recourse, a certain remuneration if he pays the beneficiary a certain amount of money in connection with the demands made.

Neither the guarantor nor the beneficiary pays VAT when the guarantor fulfills obligations under the bank guarantee. That is, there is no need to pay VAT when performing such operations as payment under a guarantee, issuance and cancellation of a bank guarantee, and so on.

Transactions that are carried out in connection with the repayment of obligations under a loan agreement are also not subject to VAT, since in accordance with current legislation all loan transactions are exempt from taxation.

The exception is transactions that arise when issuing bank guarantees by insurance organizations - these services are subject to VAT.

The guarantor is obliged to reflect the accounting entries when fulfilling obligations under the bank guarantee.

As soon as the beneficiary receives money from the guarantor (in connection with the fulfillment of obligations), the accountant makes a corresponding entry in a special book in the debit of account 51 “Current accounts” and the credit of account 76 “Settlements with various creditors and debtors”. The principal's debt is recorded in accounting depending on the type of obligation. This may be subaccount 58-3 “Loans provided,” account 62 “Settlements with buyers and customers,” account 76 or 58 “Financial investments.”

Below is an example of a table with accounts:

The letter “G” in the account indicates settlements with the guarantor, the letter “K” – settlements with counterparties.

Accounting for the beneficiary's receipt cash from the guarantor

The beneficiary, upon receipt of funds from the guarantor (using the cash method), must recognize the proceeds from the sale of goods (work, or services), since the payment was secured by a guarantee. When securing obligations to pay interest under an irrevocable bank guarantee, the beneficiary reflects non-operating income in the form of interest on the loan.

Reflection methods accounting beneficiary when fulfilling obligations under a bank guarantee

If the principal fails to fulfill the main obligation (or performs it improperly), the beneficiary makes a demand to the guarantor for payment of funds in accordance with the guarantee agreement (in writing). This requirement must indicate what exactly the principal violated during the execution of the contract. The bank guarantee expires when the beneficiary receives the amount due to him under the agreement, or if the validity period of the bank guarantee expires.

The guarantee itself is accounted for in off-balance sheet account 008 “Securities for obligations and payments received.” The amount in the account is equal to the figure specified in the contract.

The amount is debited from the off-balance sheet account gradually as the debt is repaid.

Simplified taxation system - features of bank guarantee accounting

Under the simplified taxation system, the beneficiary who received funds from the guarantor is obliged to reflect in accounting the proceeds from the sale of goods and/or non-operating income in the event of receipt of funds from interest on the loan.

As soon as the beneficiary receives funds from the guarantor (in accordance with the execution of the agreement), the accountant records entries in a special book in the debit of account 51 “Current accounts” and the credit of account 76 “Settlements with various creditors and debtors”. In this case, the principal's debt is reflected in the debit of account 76 - in the credit of (58-3, 62, 76.78) accounts, depending on the type of obligations. This may be subaccount 58-3 “Loans provided,” account 62 “Settlements with buyers and customers,” account 76 or 58 “Financial investments.”

In this case, the bank guarantee is accounted for in off-balance sheet account 008 “Securities for obligations and payments received.” The amount in the account is equal to the amount specified in the agreement. This amount is debited from the off-balance sheet account gradually as a result of debt repayment.

Accounting of a bank guarantee from the principal

First of all, you need to know that such a service as the provision of a bank guarantee by a bank or credit organization is a banking transaction, and in accordance with Federal Law No. 395-1 such a service is not subject to VAT taxation. But if the bank guarantee was issued by an insurance company, then such a service is subject to mandatory VAT taxation. In this case, the principal must deduct VAT, having previously reflected in the accounting this service. But at the same time, a bank guarantee must be provided to carry out transactions that are taxable.

The principal cannot deduct input VAT if the transactions carried out in connection with the issuance of a guarantee do not incur VAT.

If the bank guarantee is issued by a bank or credit organization, the amount of income tax is taken into account as part of non-operating expenses. When a bank guarantee is issued by an insurance organization, this operation is accepted for accounting for income tax.

Accounting for guarantor remuneration

This accounting will depend on the type of obligations. For example, if
When purchasing property, the buyer provides the seller with a bank guarantee, this will be considered an expense that is associated with the acquisition of the property.

The costs in this case will include the cost of acquiring property, interest paid on a loan provided for the purchase of property, various markups (surcharges), commissions, customs duties and payments, and so on. The amounts of remuneration to the guarantor are included in the actual cost of the acquired assets if the guarantee was issued before the assets were accepted for accounting.

The wiring in this case is as follows:

The amount of remuneration to the guarantor included in the actual value of the asset - debit of account (01/07/08/10/41...) - credit of account 76.

Payment of remuneration to the guarantor:

Debit account 76 – credit account 51.

If the bank guarantee is issued after the actual value of the assets has been formed, the accountant must reflect the following entries:

Debit account 91.2 - credit account 76.

Borrowing costs are recognized as other expenses if a guarantee is issued to secure debt obligations.

Additional costs are included, if desired, evenly as part of other costs throughout the entire term of the contract. IN accounting policy The chosen method of accounting for additional loan costs must be reflected, either accounting evenly throughout the entire loan period, or at a time during the period when they arose.

As a result, the following entries will appear in accounting:

Debit of account 91.2 – Credit of account 76 (the amount of remuneration to the guarantor is reflected).

Debit of account 76 - Credit of account 51 (reflects payment of remuneration to the guarantor)

Bank guarantee issued to secure other obligations

In this case, the tax amount is included either in non-operating expenses or in expenses associated with production and sales. Moreover, the organization itself decides which group of expenses to include this amount of remuneration (payment for guarantor services). Typically, in practice, other expenses include, for example, the customer’s obligation to pay for work (services), the supplier’s obligation to supply products, etc.

As part of non-operating expenses, the amount of remuneration is taken into account, for example, to apply the application procedure for VAT refund, to ensure payment of customs duties, taxes, etc.

Guarantee expenses are recognized for income tax purposes provided that these expenses are economically justified and confirmed, and they must be aimed at generating income. In this case, the remuneration is taken into account for tax purposes in full.

A bank can act as a guarantor of timely repayment of monetary obligations. Due to its high reliability, this financial instrument is used to reduce the risk of non-payment to a minimum. For example, when collecting taxes and customs duties or in the field of procurement under state and municipal contracts.

Companies always take a certain risk when concluding a transaction with a counterparty, because he may refuse to fulfill his obligations. As a result, such a refusal may result in financial losses. To protect themselves, companies use a bank guarantee. Let's take a closer look at what it provides.

Securing a probable obligation

A bank guarantee is a document issued by a bank and addressed to a specific lender of your company. In it, the bank undertakes to repay the company’s possible debt to the creditor at his request under certain conditions. We are talking about paying the creditor a fixed, pre-agreed amount. The peculiarity of this agreement is that at the time of issuing the bank guarantee, the company’s obligation itself does not yet exist, that is, the creditor is a potential one. Moreover, in the future the debt may not arise.

Example 1

Contracts for state and municipal needs are concluded on the basis of competitions and auctions. Applications of participants must be secured by the deposit of funds or a bank guarantee.

If the participant violates the conditions, the customer will use the security funds to compensate for the losses caused to him. Contracts are enforced in similar ways in this area. Details are in the Federal Law of April 5, 2013 No. 44-FZ “On the contract system in the field of procurement in the field of procurement of goods, works, services to meet state and municipal needs.”

So, a bank guarantee is a transaction that involves three parties:

• bank, called “guarantor” (French garant - guarantor);
• the company that applied to the bank with a request for a guarantee, called the “principal” (from the Latin principalis - chief);
• a potential creditor of the company, called the “beneficiary” (from the Latin beneficium - benefit).

The guarantor, at the request of the principal, gives a written obligation to pay the beneficiary a sum of money upon submission by the beneficiary of a written demand for its payment (). The beneficiary must indicate what the principal’s violation of the main obligation to secure which the guarantee was issued () is.

A bank guarantee ensures proper fulfillment by the principal of his monetary obligation to the beneficiary. For issuing a bank guarantee, the principal pays a fee to the guarantor (). it is not taxed ().

Note that the role of a bank guarantee can be played by a letter of guarantee from a bank in which a specific beneficiary is not named (clause 8 of the information letter of the Presidium of the Supreme Arbitration Court of the Russian Federation dated January 15, 1998 No. 27).

Warranty or insurance?

Not only a bank can act as a guarantor, but also insurance company. But the guarantee will still be called a bank guarantee. The payment itself under a bank guarantee is reminiscent of the insurer’s payment upon the occurrence of insured event. This similarity is confirmed by an alternative: in some cases, a company, at its choice, can either provide a bank guarantee to the counterparty or insure its liability to it. Examples:

• Article 17.1 Federal Law dated November 24, 1996 No. 132-FZ “On the fundamentals of tourism activities in Russian Federation»;
• Article 121 of the Internal Code water transport Russian Federation" dated March 7, 2001 No. 24-FZ.

What is the difference between a guarantee and insurance? The fact is that the insurer does not have any claims against the insured in connection with the payment of insurance compensation (in the absence of intent). And the guarantor, who has paid for the principal’s obligation, may make recourse claims against him when this is provided for in the agreement between them ().

A bank guarantee is one of the ways to secure obligations (along with a pledge, surety, etc.).

HOW THE PRINCIPAL KEEPS ACCOUNTS

Let's consider the features of accounting and tax accounting in different business situations of the company-principal.

Accounting

The cost of a bank guarantee includes the cost of the asset for the purpose of purchasing or creating which it was acquired:

DEBIT 76 CREDIT 51
- remuneration was transferred to the bank for issuing a guarantee;

DEBIT 08, 10, 20, 41, etc. CREDIT 76
- a guarantee of payment under a contract or supply agreement has been received from the bank.

This general rule formation of the cost of all inventory items.

Example 2

As security for payment obligations for a real estate transaction worth 10 million rubles, the company provided the seller with a bank guarantee.

The bank's remuneration for the guarantee is three percent of the transaction amount, that is, 300,000 rubles (10,000,000 rubles x 3%), the guarantee period is one month.

The principal company did not make the payment within the period stipulated in the purchase and sale agreement. The bank, which repaid the company's obligation to the beneficiary seller, demanded reimbursement of this amount from it.

In this situation, the accountant will make notes:

DEBIT 76 CREDIT 51

300,000 rub. - funds were transferred to the guarantor bank for providing a guarantee;

DEBIT 08 CREDIT 76

300,000 rub. - warranty costs are included in the initial cost of the non-current asset;

DEBIT 08 CREDIT 60

10,000,000 rub. - the property was accepted under the transfer deed (clause 1 of Article 556 of the Civil Code of the Russian Federation);

DEBIT 01 CREDIT 08

RUB 10,300,000 - the fixed asset is accepted for accounting;

DEBIT 60 CREDIT 76

10,000,000 rub. - the bank’s recourse claim is recognized;

DEBIT 76 CREDIT 51

10,000,000 rub. - the obligation to the bank has been repaid.

What if the principal’s expenses turned out to be fruitless? Let's say a company provided a bank guarantee to the organizer of a competition, but lost the competition. In this case, no asset arises. The following expenses should be recognized in accounting:

DEBIT 91-2 CREDIT 76
- expenses that did not produce results were written off.

Income tax expenses

The issuance of bank guarantees relates to banking operations (clause 8 of Article 5 of the Federal Law of December 2, 1990 No. 395-1 “On Banks and Banking Activities”).

The classification of expenses depends on the subject of the main transaction

The costs of paying for bank services can be taken into account:

a) as part of other expenses associated with production and sales (subclause 25, clause 1, article 264 of the Tax Code of the Russian Federation);

b) as part of non-operating expenses as costs of carrying out activities not directly related to production and (or) sales ().

In any of the options, the date of expenditure is determined based on.

Which of these articles should you prefer and what will be the difference? The decision must be made based on the essence of the specific situation. Please note that non-operating expenses are recognized at a time in full, that is, they cannot be distributed over time periods. This rule is set in .

This position is not difficult to challenge if the company has fulfilled its obligations to the beneficiary. After all, borrowing, that is, involving the guarantor’s funds in economic activity there was no principal with their subsequent return. What if the guarantor made a payment to the beneficiary and filed a recourse claim against the principal?

Just such a case is presented in example 2. The debt relationship with the bank is obvious. According to interest, any pre-declared (established) income received on a debt obligation of any type is recognized (regardless of the method of its execution). In such circumstances, the remuneration to the bank is “tax” interest on the debt obligations. And this is the third option for classifying expenses -. And the point here is not at all that the remuneration is set as a percentage of the size of the principal’s main obligation.

Example 3

Let's use the conditions of example 2. The company repaid the debt it incurred to the bank in two months. On the date of raising funds from the guarantor bank, the refinancing rate was eight percent. Therefore, as part of income tax expenses, the principal company has the right to take into account only 146,667 rubles (10,000,000 rubles x 8% x 1.1 x 2 months: 12 months).

It turns out that the amount of expense depends on the duration of the debt to the bank. The conclusion suggests itself: the expense can be recognized no earlier than the principal completes settlements for the amount of the obligation specified in the guarantee. The problem is that the Tax Code does not provide for such an approach to determining the date of expenditure. The incorrectness of letter No. 03-03-06/1/7 lies precisely in this...

However, in practice the situation is completely different. As a rule, the guarantee provides that from the moment the money is transferred to the beneficiary until the debt to the bank is repaid, the principal additionally (in addition to the remuneration) pays interest at the agreed rate. The absence of such a condition does not encourage the principal to return the money to the guarantor. And the procedure for accounting for such expenses does not cause disagreement. They are indeed accepted taking into account the norms. So example 3 is unrealistic. It should be supplemented with wiring:

DEBIT 91-2 CREDIT 76
- interest is accrued to the guarantor for the use of his funds (at the rate established by the bank guarantee).

As a result, letter No. 03-03-06/1/7 is not worth challenging. You just need to understand that the recommendation it contains is not universal. It refers to a special case, which Example 3 explains. The author did not find any arbitration practice on these issues.

Please note

Expenses are recognized in the reporting (tax) period in which these expenses arise based on the terms of transactions ().

A bank guarantee provides for two independent “stages”: before and after the guarantor repays the obligation to the beneficiary. The remuneration for the first stage is set in a fixed amount, for the second - in the form of interest for the time of use of the funds. Therefore, two types of expenses arise in tax accounting.

Guarantees for long-term obligations

The remuneration for a transaction with a guarantor relates to the period for which the guarantee is issued (). This period may cover more than one reporting (tax) period when the guarantee ensures the fulfillment of the principal's obligations under a long-term agreement aimed at generating income. At the same time, the connection between the warranty expense and the corresponding income of the principal company is indirect. This situation falls under .

In the letter of the Ministry of Finance of Russia dated January 11, 2011 No. 03-03-06/1/4, a company carrying out the construction of oil and gas complex facilities under a contract for a period of 2 years appears as a principal. Financiers indicated that expenses in the form of fees for the provision of a bank guarantee purchased in order to ensure the fulfillment of obligations under the contract must be taken into account evenly over the period for which it is purchased. A similar conclusion is contained in letters from the Ministry of Finance of Russia dated July 19, 2012 No. 03-03-06/4/75 and the Federal Tax Service of Russia dated June 4, 2013 No. ED-18-3/606. It is noteworthy that in all of the letters listed, not a word is said about the interest nature of expenses.

How to bring tax and accounting closer together

Is it possible to reflect the costs of a bank guarantee under long-term contracts in account 97 “Deferred expenses” in accounting?

Here you need to clearly understand the following. The costs of guaranteeing an independent asset do not form (clauses 7.2 and 7.2.1 of the Concept of Accounting in the Market Economy of Russia, approved by the Methodological Council on Accounting under the Ministry of Finance of the Russian Federation and the Presidential Council of the IPB RF on December 29, 1997). But they can be taken into account as part of inventories as costs incurred in connection with upcoming work, and gradually transferred from account 97 to account 20 “Work in progress”. This is precisely the approach implied by paragraph 16 of PBU 2/2008 “Accounting for construction contracts.”

Example 4

The company acquired a bank guarantee for obligations related to the execution of a construction contract.

The guarantor's remuneration is 30,000 rubles, the guarantee period is equal to the contract term and is 6 months. The accountant reflects the current costs of performing work on account 20 “Main production”. He accepted the bank guarantee as part of deferred expenses under this agreement and wrote it off evenly as the work was completed:

DEBIT 97 CREDIT 97

30,000 rub. - the bank guarantee was accepted for accounting;

DEBIT 20 CREDIT 97

5000 rub. (RUB 30,000: 6 months) - monthly warranty costs are included in the cost of construction work.

In the balance sheet, the accountant will reflect the balances of accounts 20 and 97 on line 1210 “Inventories”.

What if a bank guarantee was purchased by a trading company in order to ensure settlements under a real estate lease agreement? Regardless of the duration of the contract, the costs of the guarantee must be written off as expenses at a time (DEBIT 44 CREDIT 76). But this amount needs to be distributed in tax accounting. An example will show you how to act.

Example 5

The tenant provided the landlord with a bank guarantee for the obligation to timely pay rent for a period of five months. The bank's remuneration amounted to 15,000 rubles. Three months later, due to the tenant-principal missing the payment deadline, the bank made payment to the beneficiary landlord. Thus, the guarantee is terminated (subclause 1, clause 1, article 378 of the Civil Code of the Russian Federation).

In accounting, the principal attributed rental costs monthly to account 26 " General expenses" The remuneration for the bank guarantee should also be written off to the same account, but at a time:

DEBIT 26 CREDIT 76

15,000 rub. - a bank guarantee that does not form an asset is recognized.

In tax accounting, expenses for the guarantee (subclause 25, clause 1, article 264 of the Tax Code of the Russian Federation) for the first three months were recognized monthly in the amount of 3,000 rubles (15,000 rubles: 5 months).

The accountant will attribute the unwritten part of the remuneration in the amount of 6,000 rubles (15,000 rubles - 3,000 rubles x 3 months) to expenses at the end of the guarantee.

HOW DOES THE BENEFICIARY KEEP ACCOUNTS?

The participation of the guarantor in the calculations does not create any special problems for the beneficiary creditor. This will not affect the taxation of his profits in any way. And the accounting procedure is illustrated by another example.

Example 6

Let's use the conditions of example 2 again. But now let's consider the situation from the seller's point of view. Let’s assume he uses the “simplified” system, and the property is included in the list of goods. The accountant will make the following entries:

DEBIT 008

10,000,000 rub. - a bank guarantee was received to ensure the buyer’s payment under the real estate purchase and sale agreement;

DEBIT 68 CREDIT 51

15,000 rub. - listed state duty for state registration transactions;

DEBIT 44 CREDIT 68

15,000 rub. - duty is included in sales costs;

DEBIT 62 CREDIT 90

10,000,000 rub. - the debt of the buyer-principal is reflected;

DEBIT 90 CREDIT 41

8,000,000 rub. - the property is deregistered;

DEBIT 76 CREDIT 62

10,000,000 rub. - a demand was presented to the guarantor bank for payment under the contract due to non-receipt of money from the buyer;

DEBIT 51 CREDIT 76

10,000,000 rub. - payment has been received from the guarantor;

CREDIT 008

10,000,000 rub. - the used guarantee has been written off (subclause 1, clause 1, article 378 of the Civil Code of the Russian Federation).

for reference

Bank guarantees are a very popular product among companies. Here are real figures for some banks that issued bank guarantees in the amount of:

10,000,000 rub. - St. Petersburg branch of GLOBEX Bank (Vnesheconombank Group);

790,000,000 rub. (including guarantees in US dollars and euros) - Irkutsk branch of VTB Bank;

RUB 3,600,000,000 - Penza branch of Sberbank of Russia.

Elena Dirkova, for the magazine “Practical Accounting”

Practical accounting

A universal berator that contains complete and reliable information about accounting rules. Comprehensive information about the work of the company from creation to distribution of profits.

– an indispensable financial tool of the modern business world. However, every operation carried out by an economic entity of any form of ownership and organizational and legal structure must be reflected in the reporting documentation, which is submitted to tax authorities RF within a strictly defined time frame. Receiving and issuing a guarantee is a financial transaction, so you need to carefully consider the question of what constitutes accounting for bank guarantees.

Monetary "trust"

One of the most important drivers of business relationships in business is, of course, an agreement (contract). This document contains all the basic rules and requirements that the parties put forward to each other. By signing a contract, the subject automatically assumes full responsibility for compliance with the obligations assigned to him. However, not everything can be taken into account in such a paper. Sometimes counterparties resort to the use of various levers of influence, which are also referred to as:

• guarantees;
• additional agreements;
• insurance.

To carry out competent accounting of a bank account, you need to know that bank guarantee documents come in several types. Organizations throughout all their development cycles face the following:

• guarantee for the application for participation in the tender;
• reliability of contract execution;
• guarantee of return of advance payment.

You may have heard of each of these types, but do you know how bank guarantee accounting is done? It's simple.

Required reporting

Are you planning to acquire the right to use BG? First, you need to choose a trustworthy bank with a decent reputation and submit documents to receive the required service. Remember that issuing such documentation is a costly and responsible process.

The lending institution may refuse to apply to you if for some reason you do not qualify. Moreover, the guarantee amount can reach from 1% to 30% of the total contract value of the contract for the purchase of goods or the provision of works and services. A third of the cost - this can be a colossal amount of money that the bank is instructed to pay for you in the case specified in the contract.

Reflecting a bank guarantee in an organization's accounting records is not a complex or incomprehensible issue for accountants. The bank will not issue money to just anyone, so the recipient will be subject to a high-quality check. After its completion, the guarantor will give you the final decision. If the answer is positive, then the entity applying for guarantees will be required to submit the necessary documents and pay the fee for the service.

One of the reasons is the high reliability of bank guarantees; moreover, this type of activity generates income for banks in the form of commissions and does not require immediate withdrawal of funds from circulation. (A fragment of the article is provided. Full version read in the magazine)

Terminology of the question

According to the provisions Civil Code In the Russian Federation, a bank guarantee is one of the ways to ensure the fulfillment of obligations, but at the same time it is independent in nature and does not depend on the main obligation to secure the fulfillment of which it was issued, even if the guarantee contains a reference to this obligation.

Let us define ourselves in terms used in this article.

Bank guarantee is a written obligation of the guarantor bank, providing for payment in favor of the beneficiary upon receipt from latest requirement presented in accordance with the terms of the guarantee.

Beneficiary is a legal entity or individual in whose favor a bank guarantee is issued.

Bank-guarantor, guarantor - a credit organization that issues a bank guarantee.

Agreement - an agreement on the provision of a bank guarantee concluded by the bank with the principal.

Coverage is funds provided by the principal as collateral in accordance with the bank guarantee agreement concluded by the bank.

Principal is a legal or natural person, to secure whose obligations the guarantor bank issues a bank guarantee.

Accounts for recording transactions with bank guarantees

Accounting for transactions for the provision of bank guarantees is carried out in accordance with the Regulation of the Bank of Russia dated March 26, 2007 No. 302-P “On the rules of accounting in credit institutions located on the territory of the Russian Federation.”

In the Chart of Accounts for Accounting in Credit Institutions, the following accounts are highlighted to reflect transactions on the provision of bank guarantees:

315хх, 316хх “Other raised funds of credit institutions”, “Other raised funds of non-resident banks” (passive accounts) - are used to account for the coverage transferred by the principal bank to the bank. Accounts are opened in the currency of the listed coverage and for each contract.

324хх “Overdue debt on provided interbank loans, deposits and other placed funds” (active account) - is used to account for overdue debt on provided interbank loans, deposits and other placed funds with the allocation of second-order accounts for borrowers - credit institutions and non-resident banks. Analytical accounting is carried out in the context of borrowers and contracts.

32403 “Reserves for possible losses” (passive account) - used to account for reserves for possible losses on overdue loans, deposits and other placed funds. Analytical accounting is carried out in the context of borrowers and contracts.

42309-42315, 42609-42615 “Other raised funds individuals", "Other raised funds of non-resident individuals" (passive accounts) - are used to account for the coverage accepted from the principal - an individual under guarantees issued by the guarantor bank. Accounts are opened in the currency of the coverage received and for each contract.

428хх-440хх “Other raised funds” (passive accounts) - are used to account for the coverage received from the principal, who is not a credit institution, under guarantees issued by the guarantor bank. Accounts are opened in the currency of the coverage received and for each contract.

458xx “Overdue on loans provided and other placed funds” (active account) - used to account for overdue debt on loans provided to customers and other placed funds. For second-order accounts, overdue debt is accounted for by groups of borrowers. Analytical accounting is carried out in the context of borrowers and contracts.

45818 “Provisions for possible losses” (passive account) - used to account for reserves for possible losses on overdue loans and other placed funds. Analytical accounting is carried out in the context of borrowers and contracts.

47411 “Obligations to pay interest” (passive account) - used to account for interest accrued on accounts of coverage received. Accounts are opened in the currency of the coverage account and in the context of each agreement.

47423 “Claims for other operations” (active account) - used to record calculations of accrued commissions for issuing bank guarantees. Analytical accounting is carried out in the context of contracts.

47425 “Provisions for possible losses” (passive account) - used to account for those created in accordance with regulations Bank of Russia reserves for possible losses on contingent credit obligations. Analytical accounting is carried out in the context of borrowers and contracts.

47426 “Bank's obligations to pay interest” (passive account) - used to account for interest accrued on the accounts of the coverage received. Accounts are opened in the currency of the coverage account and in the context of each agreement.

60315 “Amounts paid under provided guarantees and sureties” (active account) - used to record amounts paid by the guarantor bank to the beneficiary under the issued guarantee. Accounts are opened in the currency of payment under the guarantee and in the context of each issued guarantee.

60324 “Provisions for possible losses” - is used to account for reserves for possible losses for amounts paid to the beneficiary under issued guarantees. Accounts are opened in the context of guarantees for which guaranteed payments have been made.

70601 “Income” (passive account), on which personal accounts are opened:

70601 (12301) “Commission received for issuing a guarantee” to account for the commission received from the principal for issuing a guarantee;

70601 (16305) “Income from the restoration of reserves for possible losses”;

70601 (17202) “Income of previous years, identified in the reporting year, from other banking operations and transactions.”

70606 “Expenses” (active account), on which personal accounts are opened:

70606 (214хх) “Interest paid on other borrowed funds”;

70606 (217хх) “Interest paid on other raised funds of individual clients”, which reflects interest paid on accounts of other raised funds, which takes into account the coverage of guarantees issued by the bank;

70606 (25302) “Other operating expenses for contributions to reserves for possible losses.”

91315 “Issued guarantees and sureties” (passive account) - used to record the obligations of a credit institution under issued guarantees. Analytical accounting is carried out in the context of issued guarantees.

91311 “Securities accepted as collateral for placed funds” (passive account) - used for accounting securities accepted as collateral under the issued guarantee. Analytical accounting is carried out in the context of each pledge agreement.

91312 “Property accepted as collateral for placed funds” (passive account) - used to account for property (except for securities) accepted as collateral under an issued guarantee. Analytical accounting is carried out in the context of each pledge agreement.

91414 “Received guarantees and guarantees” (active account) - used to account for received guarantees or guarantees for issued guarantees. Analytical accounting is carried out in the context of each guarantee/surety agreement.

91801 “Debt on interbank loans, deposits and other placed funds, written off from reserves for possible losses.”

91802 “Debt on loans and other placed funds provided to clients (except interbank), written off from reserves for possible losses” (active accounts) - used to account for the principal’s debt written off from the reserve for guaranteed payments made by the guarantor bank. Analytical accounting is carried out for each contract.

Accounting for transactions with bank guarantees

Let's consider typical transactions of a bank conducting operations to provide bank guarantees.

Issuing a guarantee

The credit institution's obligations under the issued bank guarantee are reflected in the accounting records as follows:

Dt 99998 “Account for correspondence with passive accounts with double entry”

Kt 91315 “Issued guarantees and sureties.”

In accounting, a guarantee is reflected on the day the guarantee comes into force specified in the guarantee, or when the condition for the guarantee to come into force specified in the guarantee occurs.

If the terms of the guarantee stipulate that it comes into force from the date of issue, then the guarantee is reflected in accounting on the day the guarantee is transferred to the principal.

Payment by the principal of the commission for issuing a guarantee is made in accordance with the bank’s tariffs using the following transactions.

On the day the guarantee comes into force or on the last calendar day of the month or in accordance with the terms of the agreement concluded with the principal, an entry is made to accrue a commission to the bank for issuing the guarantee:

Dt 47423 “Calculations for accrued commissions for issuing bank guarantees”

Kt 70601 (12301) “Commission received for issuing a guarantee.”

Payment of the bank's commission for issuing a guarantee can be made on the day the funds are received in the bank's correspondent account or on the day the coverage amount is written off from the principal's account. This operation is formalized by the following posting:

Kt 47423 “Calculations for accrued commissions for issuing bank guarantees.”

Creation of a reserve for possible losses under issued guarantees

The bank's obligations under issued bank guarantees reflected in off-balance sheet accounts are subject to reservation based on a professional judgment on the quality category in the manner prescribed by Bank of Russia Regulation No. 283-P dated March 20, 2006.

Accounting for the formation of a reserve for possible losses is carried out as follows:

Kt 47425 “Provisions for possible losses under issued guarantees.”

The posting is generated on the day the issued guarantee is put into off-balance sheet accounting/on the date of reclassification of an element of the reserve calculation base into a more high category quality.

Restoration (reduction) of the reserve for possible losses is carried out by the following entry, which is generated on the day of write-off (partial write-off in the case of payment) of the guarantee from off-balance sheet accounting / on the day of reclassification of an element of the reserve calculation base to a lower quality category:

Dt 47425 “Provisions for possible losses under issued guarantees”

Kt 70601 (16305) “Income from the restoration of reserves for possible losses.”

Changing the Limit of Liability

If the agreement on the provision of a bank guarantee (hereinafter referred to as the agreement) provides for a reduction in the limit of liability under the guarantee, then if the limit of liability of the bank under the issued guarantee changes on the date of reduction of the amount of the issued guarantee, an entry is made to reduce the amount of the guarantee:

Accounting for collateral and coverage

When issuing a guarantee in accordance with the terms of the agreement concluded with the principal, the bank may accept coverage in the form of cash or security in the form of a pledge of securities, property, precious metals and other property.

If the agreement provides for the principal to transfer to the bank the coverage under the guarantee issued by the bank, then the accounting of the received funds is carried out in the accounts for accounting for other raised funds in Chapter A of the Chart of Accounts for Accounting in Credit Institutions as follows:

Dt correspondent account, current account, current account

Kt 428хх-440хх “Other raised funds”

Kt 42309-42315 “Other raised funds of individuals”, 42609-42615 “Other raised funds of non-resident individuals”

Kt 315хх “Other funds raised from credit institutions”, 316хх “Other funds raised from non-resident banks”.

The posting is generated on the day the funds are received in the bank's correspondent account or on the day the coverage amount is written off from the principal's account.

Collateral in the form of a pledge of bills, securities and other types of collateral is reflected in the corresponding off-balance sheet accounts of Chapter B of the Chart of Accounts in credit institutions in accordance with the requirements of the Bank of Russia.

Security presented in the form of a pledge of property in the amount of the estimated value of the pledged item specified in the pledge agreement is reflected in off-balance sheet accounts with the following entry:

Kt 91312 “Property accepted as security for placed funds.”

Security in the form of a pledge of securities in the amount of the estimated value of the securities specified in the pledge agreement is reflected by the posting:

Dt 99998 “Accounts for correspondence with passive accounts with double entry”

Kt 91311 “Securities accepted as collateral for placed funds.”

Reflection in accounting of the amount of security provided in the form of a guarantee or surety in accordance with the guarantee or surety agreement is documented by posting:

Dt 91414 “Guarantees and sureties received”

Kt 99999 “Account for correspondence with active accounts with double entry.”

The return of part of the coverage in the event of a reduction in the limit of liability under the guarantee is carried out by the following transactions on the date of reduction in the amount of the issued guarantee:

Dt 315xx “Other funds raised from credit institutions”, 316xx “Other funds raised from non-resident banks”

Dt 42309-42315 “Other raised funds of individuals”, 42609-42615 “Other raised funds of non-resident individuals”

Dt 428хх-440хх “Other raised funds”

If the terms of the signed agreement with the principal or other agreements aimed at minimizing the bank’s risks under the issued guarantee provide for the accrual of interest on the amount of the placed coverage, then the following transactions are made:

Dt 70606 (214хх) “Interest paid on other borrowed funds”

Kt 47426 “Bank’s obligations to pay interest on the coverage account”

Dt 70606 (217хх) “Interest paid on other attracted funds from individual clients”

Kt 47411 “Obligations to pay interest.”

These postings are made on the last working day of the month (unless another frequency for calculating interest income is established accounting policy credit organization).

Interest on the amount of the placed coverage is accrued from the day following the day the corresponding amount of coverage is deposited into the coverage accounting account, up to and including the day specified in the agreement with the principal. When calculating the amount of interest due, the number of days in a year is taken to be 365 (366) under agreements concluded with principals in accordance with the legislation of the Russian Federation. Agreements concluded with principals who are non-residents of the Russian Federation in accordance with the legislation of the country of their residence may indicate any interest accrual base agreed upon by the parties (360, 365 or 366 days).

Payment to the principal of interest accrued on the amount of coverage is carried out as follows. On the payment date determined by the relevant agreement, it is necessary to accrue additional interest on the coverage account in accordance with the previous posting. The following accounting entries are made:

Dt 47426 “The bank’s obligations to pay interest on the coverage account” or

Dt 47411 “Obligations to pay interest”

CT correspondent account, current account, current account.

Payment under guarantee

If the bank makes payments of funds in favor of the beneficiary under the issued guarantee, then these amounts are accounted for as follows:

Dt 60315 “Amounts paid by the bank under the guarantees provided”

CT correspondent account, current account, current account.

Simultaneously with the previous posting or on the date the guarantee is removed from off-balance sheet accounting, the guarantee liability is written off:

Dt 91315 “Issued guarantees and sureties”

Kt 99998 “Accounts for correspondence with passive accounts with double entry.”

The obligation under the guarantee is written off for the amount of the guarantee or in part of the payment made.

According to Art. 378 of the Civil Code of the Russian Federation, the guarantor’s obligation to the beneficiary under the guarantee terminates:

1) payment to the beneficiary of the amount for which the guarantee was issued;

2) the end of the period specified in the guarantee for which it was issued;

3) due to the beneficiary’s waiver of his rights under the guarantee and its return to the guarantor;

4) due to the beneficiary’s waiver of his rights under the guarantee by means of a written statement releasing the guarantor from his obligations.

In this case, termination of the guarantor’s obligation on the grounds specified in subparagraph. 1, 2 and 4, regardless of whether the guarantee is returned to him.

Thus, the obligation for the provided guarantee is written off off-balance sheet in the following cases, depending on which of the circumstances occurs earlier:

— at the end of the business day specified in the guarantee as the expiration date of the guarantee;

- on the day the original guarantee is returned to the guarantor’s disposal;

- on the day of receipt of a copy of the guarantee with a note from the beneficiary regarding the termination of obligations under the guarantee;

- on the day of receipt of written notification from the beneficiary about the termination of the guarantor’s obligations under the guarantee;

- on the day the guarantor fully fulfills his obligations under the guarantee;

- on the day of receipt of documents, the presentation of which satisfies the conditions for termination of obligations under the guarantee.

Write-off of collateral

On the day the guarantee is deregistered, the collateral under the guarantee is deregistered, provided that there are no unfulfilled obligations of the principal under the contract.

Write-off of collateral in the form of property in the amount of the balance of account 91312:

Dt 91312 “Property accepted as security for placed funds”

Kt 99998 “Account for correspondence with passive accounts with double entry.”

Write-off of collateral in the form of a pledge of securities in the amount of the balance of account 91311:

Dt 91311 “Securities accepted as collateral for placed funds”

Kt 99998 “Account for correspondence with passive accounts with double entry.”

Write-off of provided guarantees or sureties in the amount of the balance on account 91414:

Dt 99999 “Account for correspondence with active accounts with double entry.”

Kt 91414 “Guarantees and guarantees received.”

If the bank exercises its rights under the pledge/guarantee/surety agreement, the collateral under the issued guarantee is written off on the date of receipt of execution under the pledge/guarantee/surety agreement, respectively.

Creating a reserve for possible losses on warranty transactions

Amounts paid by a credit institution to a beneficiary under bank guarantees are recognized as loans for the purposes of Bank of Russia Regulation No. 254-P dated March 26, 2004 “On the procedure for credit institutions to form reserves for possible losses on loans, on loan and similar debt” (hereinafter referred to as the Regulation No. 254-P). Therefore, a reserve for possible losses should be created for them based on a professional judgment about the quality category in the manner prescribed by the specified Regulations:

Dt 70606 (25302) “Other operating expenses for contributions to reserves for possible losses”

Kt 60324 “Reserves for possible losses on guarantee operations.”

The posting is made on the date of payment to the beneficiary under the bank guarantee.

In modern business world Business entities of different forms of ownership often use a financial instrument such as a bank guarantee to ensure the reliability of the transaction. By its nature it is type of loan product, but cheaper than a regular loan.

This service is provided banking institutions in accordance with agreement, at the same time interest is accrued or a commission is withdrawn in the form of a fixed amount. The accounting of the transaction is displayed by the enterprise accountant according to the balance sheet accounts.

What is this tool

Bank guarantee represents an obligation of a bank or other credit institution, presented both in written and electronic form, to ensure that their client ensures the conditions under the agreement, contract, tender.

If they fail to comply certain conditions The financial institution pays the customer the amount of money specified in the agreement. This method of reducing risks for certain types of transactions is an indispensable and important condition for cooperation.

There are 3 entities involved in such an operation:

• guarantee, taking a conditional obligation for a fee;
• principal– the person who initiates the issuance of the obligation and is the debtor under the main agreement;
• beneficiary– the customer whose interests are protected in accordance with the contract.

The classification of guarantees is determined by the nature of the agreement. There are the following types:

• tender or competitive, designed to reduce the client’s risks if the winner of the tender for one reason or another refuses further cooperation;
• performance guarantee ensures the completeness and timing of delivery of products or performance of work;
• advance acts as a guarantor for the return of previously paid payments if the terms of this transaction, which relate to volumes or deadlines, are not met;
• tax used to secure obligations to this government agency.

There are also other types of guarantees. All of them are divided into revocable and irrevocable, come into force from the date of issue and are closed after expiration only if the warranty case does not occur.

Each such operation is necessarily reflected in reports that are submitted to regulatory authorities, so it is worth familiarizing yourself with their accounting in more detail.

Accounting for transactions relating to guarantees

In any company, transactions relating to bank guarantees received in documentary evidence or electronic form, must be reflected in accounting. This is what accounting does.

Postings are made upon receipt of such primary documents, like a bill of lading.

If the BG is issued in electronic form, then, guided by the Resolution of the Supreme Arbitration Court No. 14 and using the SWIFT system, it is equated to a paper copy.
At the same time, special attention is paid to the correct preparation of entries so that there are no problems when checking the submitted reports to the tax office.

How are the amounts of money received from the guarantor taken into account by the beneficiary?

The list of transactions related to the fulfillment of obligations by the guarantor is reflected in the accounting. Received amounts of money from him in favor of the beneficiary are posted to accounts Dt.51 “Current accounts” And Kt.76 “Settlements with debtors and creditors”, an additional note is also made in a special book.

For the principal, taking into account the type of obligation, the debt is reflected in Account 62 “Settlements with customers”, sch. or - "Financial investments".

The beneficiary must recognize the received money as revenue from the sale of products or services, since this payment is secured by a guarantee. All obligations relating to interest are reflected by the beneficiary as non-operating income.

If the debtor fails to fulfill its obligations, the beneficiary must send a written request to the guarantor for compensation of money in accordance with the agreement. It tells you what kind of violations there were.

The BG amount indicated in the contract is reflected in debit account 008 “Securing payments and obligations received”. It is written off step by step when the debt is paid off.

As far as accounting is concerned, amounts paid by the principal towards the guarantee are accounted for in accordance with the following features.

In addition, the service regarding the issuance of a guarantee is considered as a type of banking operation, therefore, according to Federal Law No. 395-1, it is not taxed. If it is provided by an insurance company to carry out taxable transactions, such a service is subject to mandatory VAT, is reflected in accounting and is accepted for deduction. The BG amount specified in the agreement of the credit institution is taken into account as non-operating expenses.

Remuneration to the guarantor

BG accounting is largely determined by the type of obligation. If this is, for example, a transaction for the acquisition of property, then the bank guarantee provided by the buyer to the seller is relevant to the costs associated with its purchase. The costs also include interest on a loan issued for the purchase of property, commissions, various markups and a number of other payments.

If the guarantee was provided before the assets were accounted for, then the remuneration to the guarantor relates to their actual value. The operation is reflected by the posting: debit accounts 01; 07; ; ; – credit account 76. Paid remuneration – debit account 76 – credit account 51.

If a guarantee is issued after the actual value of the assets has been established, the transaction is reflected by the following entry: Dt 91.2 Kt 76.

If the guarantee was intended to secure debt obligations, then expenses related to loans are included in other expenses at the time of their occurrence or evenly throughout the duration of the contract.

Current tax legislation predetermines the submission of reports to the tax office, which reflect expenses relating to the period of its actual issuance, and not at the time of payment of monetary amounts.

In tax accounting, the date of receipt of remuneration is considered the day of signing the agreement on issuing a guarantee to the client.

It follows that the reflection of warranty documentation in accounting has some differences from transactions in tax accounting. In it, remuneration relates both to other expenses associated with the production and sale of various products, and to those that have nothing in common with them.

One way or another, enterprises must determine the formation of product costs. Accounting for the bank guarantee is reflected in the accounting and tax records by the company's accountant.

Bank counter guarantee and other important aspects

The process of issuing a bank guarantee is somewhat reminiscent of applying for a loan or insuring any financial risk. Its accounting is largely determined by the purposes for which it is used.
In some cases, before issuing it, the bank asks the client to provide financial security in the form of a counter-guarantee. It's not uncommon associated with the issuance of securities subject to revaluation in future periods.

Accounting for guarantees of credit institutions, regardless of their classification, is carried out strictly in accordance with the requirements set out in legislative acts. At the same time, expenses expressed in monetary terms and intended to remunerate the guarantor can reduce income tax, provided that they are justified both economically and supported by documents. Another important point is that if the guarantee was purchased to participate in a tender, then the costs are taken into account even if the tender is lost.

The definition of a bank guarantee according to No. 44-FZ is presented in this video.