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Acquiring system

Acquiring services are used by businessmen who accept payments by plastic cards. Acquiring operations differ from cash payments: payments from the buyer do not arrive at the seller s cashier immediately and are subject to a commission. Therefore, the tax and accounting of acquiring raises questions. We will answer them.

Acquiring and its types

Acquiring accounting

  • The proceeds are credited to the account on the day of payment

  • The proceeds are credited to the account later

  • When to accept revenue for accounting

Accounting for the return of goods paid for using acquiring

Tax accounting of acquiring

Acquiring documents

Acquiring and its types

Acquiring is a banking service that allows businessmen to receive proceeds from payment cards. If the card is tied to a smartphone or smart watch with an NFC module, then the buyer can pay from the gadget, and you can also pay via the Internet – all this is also acquiring.

There are several types of acquiring:

1. Merchant – the buyer purchases a product or receives a service and pays by card through the terminal located at the outlet.

2. Mobile – similar to a trading terminal, but the terminal is not permanently installed. He is carried with him by a courier delivering goods, or a driver of a vehicle. To communicate with the bank, the terminal is connected to a mobile phone or tablet.

3. Internet acquiring – an option for purchases in online stores and remote purchase of services (for example, air tickets). In this case, the card does not interact directly with the terminal. The buyer selects the desired product or service, and then enters his card details and pin code in a special section on the website

Acquiring differs in the time the money is credited to the merchant s current account.

1. Deferred crediting. This is the most commonly used option. It is inconvenient for a credit institution to process many small transactions at the time of their execution. Therefore, banks usually include in contracts the terms of reimbursement of funds for acquiring operations in 1-3 business days.

2. Enrollment “day to day”. To attract customers, some banks offer them crediting money to the account on the day of payment by the buyer. Often this option is used by credit organizations that specialize in working with small businesses. This is convenient when you receive sales on weekends or during long holidays.

The peculiarity of acquiring is that the receipt of money from the buyer to the seller s account does not occur instantly, but after 1–3 business days. And there is also a commission for the provision of acquiring services, which the bank deducts from each operation. These are the main features that affect accounting and tax accounting.

Acquiring accounting

The basic transactions for acquiring in retail, services or online payments will be the same. The reflection of acquiring in accounting depends only on the procedure for crediting funds.

The proceeds are credited to the account on the day of payment

If the bank transfers funds immediately following the results of the acquiring operation, the transactions will be as follows.

Wiring

The meaning of the operation

DT 62 – KT 90

Sales proceeds accrued

DT 51 – CT 62

Money were transferred to the account

DT 90.3 – CT 68.2

VAT charged if the seller pays this tax

DT 91 – KT 51

Bank commission for acquiring services is charged to other expenses

The proceeds are credited to the account later

If the money does not reach the seller s account immediately, then additional acquiring transactions appear. To do this, use account 57 “Transfers in transit”.

Wiring

The meaning of the operation

DT 62 – KT 90

Reflected proceeds from sales

DT 57 – CT 62

Funds are debited from the buyer s card

DT 91 – KT 57

Bank commission for acquiring services is charged to other expenses

DT 51 – KT 57

The proceeds are credited to the seller s account minus the commission

In accounting, the proceeds from the sale of goods or the provision of services must be taken into account in full, even if, in fact, you receive the amount on the account minus the bank s commission. The commission is charged to other expenses of the organization (clause 11 of PBU 10/99).

When to take revenue for accounting

For any of the options for working with the bank, the proceeds from the sale must be taken into account on the date of transfer of goods to the buyer or the provision of services, regardless of the date of receipt of money on the account. This approach is used on the accrual basis, which is used for accounting by almost all organizations.

Small businesses that keep accounting according to a simplified scheme, theoretically have the right to use the cash method in accounting, i.e. recognize revenue when money is received (clause 4 of PBU 9/99). In practice, almost no one does this, since with the cash method it is difficult to adequately assess income, expenses and balance sheet structure.




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Accounting for the return of goods paid for using acquiring

If the buyer paid for the goods from a plastic card, then he must also receive the money for the returned goods on the card. Cash refunds are allowed only for those purchases that were paid for in cash (clause 2 of the Central Bank of the Russian Federation Directive No. 3073-U).

In accounting, calculations for the return of goods are reflected using a reversal, that is, reverse postings. They are highlighted in red.

Wiring

The meaning of the operation

DT 62 – KT 90

Revenue canceled

DT 90.3 – CT 68.2

VAT canceled

DT 62 – CT 57

The refund request has been sent to the bank

DT 57 – CT 51

Money returned to the buyer

Upon return, the buyer should receive a full refund for the item price. For the sale, you received payment minus the bank commission, but this difference will have to be compensated at your own expense. You cannot withhold a commission from the buyer.

There are no grounds for returning the commission in this situation – after all, the acquiring service was provided. However, some banks provide for reimbursement of the commission under certain conditions: for example, if the buyer returned the goods after a short time – 3-5 days.

Tax accounting of acquiring

As a result of the acquiring operation, the businessman receives to the current account an amount less than the buyer paid, since the bank withheld the commission. But to calculate income tax, VAT or STS (Unified Agricultural Tax), the proceeds must be taken into account in full.

Example. Alpha LLC works for OSNO. Under the acquiring agreement, the bank s commission is 1.5%. The daily revenue from the cards is 120,000 rubles.

Bank commission will be:

120,000 × 1.5% = 1,800 rubles

The following will be credited to the current account:

120,000 – 1,800 = 118,200 rubles

Revenue without VAT for income tax:

120,000 / 120% × 100% = 100,000 rubles

Expenses for payment of the acquiring commission reduce the taxable base, both for income tax and for the STS “Income minus expenses” or Unified agricultural tax. It is impossible to deduct VAT from the bank s commission, since it is not subject to this tax.

The procedure for recognizing revenue in tax accounting depends on the tax regime. With the simplified tax system and unified agricultural tax, income is recorded only on a cash basis, that is, on the date of payment. In this case, it is important to include in the proceeds all funds received from the buyer, otherwise the tax base will be underestimated.

To calculate income tax, the accrual method is usually used – revenue is recognized at the moment of accrual, that is, when you transfer goods to a customer or provide a service. Small businesses with revenues of up to 1 million rubles per quarter are entitled to calculate income tax on a cash basis. But in practice, almost no one does this so that there are no deviations between accounting and tax accounting.

Acquiring documents

When paying with a card, the seller is obliged to give the buyer a regular cashier s receipt and a slip, which is generated by the payment terminal. The slip contains basic information about the payment: amount, time, card details, terminal number.

An individual buyer can use a slip similar to a cashier s receipt to confirm the fact of payment (Article 493 of the Civil Code of the Russian Federation). For example, if there are disputes about the return of goods.

For buyers of individual entrepreneurs or legal entities, one slip is not enough to confirm the costs. The slip does not contain all the necessary details that are in the check, for example, the seller s TIN.

Payments by cards are non-cash payments, therefore, you do not need to include the amount of receipts through acquiring in the cash receipt order. But this proceeds should be included in the journal of the cashier-operator. For non-cash receipts, columns 12 and 13 of the journal “Paid for documents: quantity, amount” are intended.

Post Author: Rachel Reinbauer

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