In what case is account 57 used? Common business transactions, postings for them

Account 57 “Transfers in transit” is active, serving to obtain generalized information about the movement of funds sent for crediting to the company’s accounts, but not yet received at the moment. The amounts listed on it are subject to frequent and thorough audits by auditors.

The audit process and why it is needed

Inspections pursue understandable goals - control of reporting for the economically stable existence of the organization. The legality and reliability of the information provided by the accountant are the basis for the correct accounting of the company’s money. The audited company must comply with the following rules:

provide reliable information on account balance 57;
timely transfer income from the organization’s activities;
correctly reflect the accounting of foreign exchange transactions.

The audit is based on a thorough study of all primary accounting registers that lead to the appearance of entries in the “Transfers in transit” account.

Accounting characteristics

57 accounting account is a way of modern description of the process of transferring funds to bank accounts. Almost every trading organization transfers amounts from the cash register and proceeds for the reporting period to the account. The use of account 57 begins with such operations, which allows for more reliable and continuous accounting.

In addition to the funds transferred by the organization, transfers in transit include amounts sent from buyers on account of goods or services received, but which did not manage to be credited to the current account before the end of the reporting period. Funds allocated for currency conversion are also debited in account 57.

Account application

Account 57, according to the order of the Minister of Finance of the Russian Federation, serves as a source of information about the movement of money in ruble and foreign currency equivalent. It is used in cases where the transfer of funds to a bank account is delayed for a period of 1 day or more from the moment of sending. In addition to the bank, the organization uses the services of savings banks and post offices for settlement transactions.

It is necessary to have a basis in the form of primary accounting documents. These are receipts from executive agencies, as well as accompanying statements for the delivery of proceeds to collectors and other accounting registers. The movement of foreign currency funds must be organized separately from other transfer operations.

Correspondence with other accounts

Account 57 is active, which means that any inflow of funds is recorded in debit, and write-off is recorded in credit. At the end of the reporting period, a debit balance is formed, or the account is closed if the funds in transit have managed to transfer to the main bank accounts. Based on the characteristics of the account, it is possible to distinguish between its correspondence in debit and credit with other accounts.

Account “Transfers in transit” is debited to the accounts:

monetary (accounts 50, 51 and 52, “Intra-economic settlements”);
settlements with buyers and creditors (accounts 62, 64, 76);
settlements with dependent organizations (account 78);
sales of products (accounts 45 and 46);
profit and loss (account 99).

Closing account 57 - loan correspondence - is most often performed from the account. 50, 51, 52 and 64, 73. Complete posting confirms the fact that funds have been credited to the destination account.

Postings to account 57 when depositing money from the cash register

The transfer of money from the cash desk using the "Transfers in transit" account is carried out in the case when the duration of the operation will take more than 1 day. Amounts are deposited from the organization’s cash desk in the following cases:

you need to top up your current account;
to avoid exceeding the cash limit;
you need to transfer money to your corporate card account.

Additionally, you can consider the situation when a transfer occurs from one current account of an organization to another. Accounting entries are also prepared using account 57.

Basic quotes for correspondence of accounts 50, 51 and 57

Dt	CT	Amount, rub.	Characteristics of an accounting transaction
57	50	20.000	money in rubles was handed over from the cash register for transfer to a bank account
51	57	20.000	the transferred money was successfully credited to the bank account
57	51.01	140.000	the amount was transferred from current account A to current account B
51.02	57	140.000	funds were transferred from current account A (51.01) to current account B (51.02)
57	50	85.000	money is sent to a corporate card account
55.01	57	85.000	funds have been received into the organization’s corporate card account

It is important not to forget to use account 57 when transferring amounts from the cash register to the bank account. It is possible that posting Dt 51 Kt 50 more simply describes the process of transferring the cash contents of the cash desk to a bank account, but this operation is not reliable. After all, funds are not credited at the same moment when they were sent. Only after the actual execution of the transaction is it possible to carry out such a quotation.

Currency transactions

Accounting for foreign currency funds is carried out on active account 55. Circulation is carried out both in rubles and in foreign equivalents in various payment forms, except for bills. Each of the payment forms involves opening a corresponding sub-account.

When converting currency, companies use account 57. Depending on the type of operation being carried out, sub-accounts are opened:

57.1 – currency for sale;
57.2 – currency for sale deposited by the bank;
57.3 – funds in rubles for the purchase of foreign currency.

It is worth noting that account 57.3 remains open until the organization purchases currency in the amount of transferred rubles.

Subaccount 52.2 reflects currency transactions that are carried out outside the Russian Federation on the accounts of foreign companies. It is debited when transfers are made by foreign firms in favor of the organization, as well as when bank interest is calculated for the use of funds. The account credit shows transactions related to:

transfer of funds to the main bank account of the company;
fee for servicing a foreign currency account;
payment of expenses to employees of the organization;
transfer of funds related to the maintenance of a foreign branch.

Payment of expenses to employees can be made from account 52.2 only with special permission from the Bank of the Russian Federation.

The exchange rate difference arising on account 57 is written off to the credit of subaccount 91 “Other income”. If it is negative in the reporting period, the account corresponds with the debit of subaccount 91 “Other expenses”. Postings are made only on the basis of an accounting certificate.

Postings for currency transactions

Currency transactions are an important component of monetary accounting and settlements. To transfer funds in foreign equivalents, organizations use accounting account 57. The transactions common in the process of conducting transactions are considered in the table:

Correct preparation of correspondence accounts will reduce the risk of errors in accounting registers and financial statements.

Acquiring operations

Acquiring is the process of paying for goods or services using a special card. Payment can be made either through online resources or during a regular purchase in a store. Payment cards are plastic cards of the VISA, MasterCard and other classes issued and serviced by the bank. The POS terminal serves as a means of communication between the service user and the banking organization.

The company using acquiring operations enters into an agreement with the bank. The latter is due a set percentage of the commission for the instant payment services provided. The transfer of revenue to the organization occurs only after receiving a fiscal receipt - slip. This is a document confirming a payment transaction using a payment card. One of its copies is transferred to the accounting department of the organization.

Reflection of acquiring in accounting

Profit from the sale of goods or provision of services through payment through a POS terminal is transferred to the company’s account only after a bank verification and deduction of commission.

To correctly reflect accounting transactions, use “Transfers in transit” - account 57. The transactions that occur in this case can be seen in the table:

Depending on the method of accrual of income, its recognition will be carried out at different times. The accrual method implies the use of posting Dt 57 Kt 90.1, regardless of the period in which the funds were received, and considers the date of receipt of income as the date of sale. If the company uses the cash method, the amount is written off to income when the money from the sale is credited to account 51.

An example of acquiring accounting at an enterprise

Let's consider the process of accounting for non-cash payment by bank card at a conditional enterprise X. The cashier at the end of the work shift generates a Z-report, which contains the following information: the amount of revenue from sales by bank transfer - 180,000 rubles. (of which VAT is RUB 27,457.63). The data is transmitted to the accountant who makes the following entries:

Dt 57 Kt 90.1 – receipt of revenue from sales via bank cards is reflected – RUR 180,000.
Dt 90.3 Kt 68 – VAT charged on sales – RUB 27,457.63.
Dt 51 Kt 57 - money was received into the company’s account minus the commission - 177,300 rubles.
Dt 91 Kt 57 – shows the commission for banking services provided 1.5% = 2700 rubles.

57 accounting account is one of the main cash accounts used by the enterprise to make payments in rubles and foreign currency.

Account 57 “Transfers in transit” is used by legal entities and individual entrepreneurs to collect information about funds that have been transferred for depositing into bank accounts, but have not yet been credited to them.

Account 57 in accounting is a collective summary of information about the company’s funds in transit, both in Russian rubles and foreign currency. As a rule, this account displays information about the delivery of cash to the bank (for example, trading proceeds), which has already been deposited in the cash desks of credit institutions or transferred through collection services, but has not yet been credited directly to the company's account. Confirmation of the transaction carried out are receipts from credit institutions for depositing money or copies of accompanying documentation from collectors.

To separate the method of depositing funds and separate accounting of transactions in foreign currency, account 57 can be divided into the following subaccounts:

57.01 - amounts that were deposited to credit institutions are displayed here, but confirmation of the deposit was not received by a bank statement (for example, delivery of trading proceeds);

57.02 - transactions for the acquisition of foreign currency, used when it is necessary to reflect in accounting the difference between the cost of acquiring currency and the exchange rate of the Central Bank of the Russian Federation;

Something to keep in mind! When including exchange rate differences in the costs of purchasing goods, it is recommended to use account 76.09.

57.03 - used in retail trade to display acquiring transactions (the buyer pays for the goods through the terminal using payment cards, the acquiring bank credits the money after some time, deducting a certain percentage for making payments);

57.21 - transfer transactions expressed in foreign currency;

Attention! If necessary, the company may introduce additional subaccounts.

Account 57 is active - the debit displays the amounts deposited for crediting. For the loan account 57, further funds are credited for their intended purpose (receipt of money to the cash desk, receipt of currency, etc.)

Regulatory regulation

Using the account 57 to display information about funds transferred to credit institutions, but not yet credited for the purpose of the organization, is carried out in accordance with the current Chart of Accounts, approved by Order of the Ministry of Finance dated October 31, 2000 No. 94.

In addition, the need to deposit cash proceeds in excess of established limits with the bank is regulated by Bank of Russia Directive No. 3210-U dated March 11, 2014 and other regulatory documents.

Common business transactions and postings for them

Transactions involving the transfer of trading proceeds in excess of established limits
Money was transferred, but not credited for its intended purpose (purchase of currency, transfer between the company’s own accounts in different banks, etc.)
Repayment of receivables until money is credited
Dt57 Kt62,76,79
Receipt of funds in transit to their destination
Dt50 Kt57 - received at the cash desk

Dt51,52 Kt57 - credited to current accounts in Russian or foreign monetary units.

General information about the movement of funds of an organization in any currency - both national and foreign - is reflected in account 57. Transfers in transit presuppose the presence of amounts of money, such as revenue or other cash, intended to be credited to the current account or to the cash desk of the enterprise, but have not yet reached their destination. In the article we will look at accounting account 57, the features of its use and typical entries for it.

Accounting account 57: features of use

Often, when transferring money (depositing cash to a bank, withdrawing funds from a current account), accountants do not use account 57. The procedure ends with one of the possible entries:

Debit 50 ― Credit 51 ― cash withdrawal from the current account;
Debit 51 - Credit 50 - depositing revenue or other funds into a bank account.

However, a time gap often forms between the two final points of receipt/transfer of money. The transfer of assets may not occur on the same day, for example, if cash was withdrawn from the cash register at the end of the working day, and it was credited to the current account at the beginning of the next.

Example. At the end of the day 02/01/2016, revenue in the amount of 67,000 rubles was capitalized to the organization. 20,000 was left in the cash register for distribution to accountable persons for current household expenses. Other money must be transferred to the current account without violating the cash register limit (30,000 rubles). What transactions reflect these actions?

01.02.2016

Debit 50 - Credit 62 (67,000 rubles) - receipt of revenue for goods sold to the enterprise's cash desk.

Debit 71 - Credit 50 (20,000 rubles) - funds were issued to the accountable person.

Debit 57 - Credit 50 (47,000 rubles) - money was transferred to the collection service to replenish the current account.

02.02.2016

Debit 51 - Credit 57 (47,000 rubles) - yesterday's revenue of the enterprise was credited to the bank account.

Using account 57 allows you to maintain cash discipline by depositing funds into your current account as they arrive.

In addition, a simple posting of Debit 50 - Credit 51 cannot always reflect the actual financial condition. The money may ultimately not be used for its intended purpose, for example, returned back to the company’s cash desk. We cannot exclude the possible occurrence of force majeure circumstances - theft, loss of cash after acceptance by collection services. In such cases, cash flow does not achieve the ultimate goal - replenishing the current account.

Bank receipts and copies of accompanying statements issued to collection services are considered the basis for accepting funds into account 57.

Account 57 in accounting. Transfers within the organization

To reflect cash flow, revenue for goods sold, and money transfers, account 57 is used in organizations for the following purposes:

Topping up your current account. Funds are transferred to the organization's employees or collection services for crediting to the bank through the organization's cash desk.
Cash withdrawal. Based on the issued bank receipt, funds can be credited to account 57 before the cash is posted to the cash desk.
To transfer funds to the enterprise’s corporate card from current bank accounts.
For acquiring operations.

Currently, the possibility of paying for goods by individuals using payment terminals is widespread. This form of payment is relevant not only for regular stores, but also for making purchases online.

Organizations that use such methods, in addition to having specialized equipment, enter into agreements with banks for the service of payment terminals - acquiring. An authorized bank, an intermediary (acquirer), installs its own payment terminals in the institution, through which the population makes payments for purchased goods.

In such cases, funds are not immediately credited directly to the organization. The 57 count should also be used here.

Debit 57 - Credit 90 (36,000 rubles) - revenue from customer cards is reflected.

Debit 90 - Credit 68 (5491.53 rubles) - accrual for VAT sales.

Debit 51 – Credit 57 (35,460 rubles) – receipt of funds to the institution’s current account.

Debit 91 - Credit 57 (540 rubles) - bank expenses under the acquiring agreement.

If an organization is a VAT payer, tax must be charged on the full amount of revenue.

Read more about the accounts used in transactions in the articles: (accounting for calculations of taxes and fees), (accounting for the sale of finished products), (accounting for other income and expenses).

Account 57. Transfers between organizational accounts

Account 57 is also used when transferring funds between an organization’s accounts, filling the time gap between the write-off of assets and their receipt to another current account. The following transactions are created:

Debit 57 - Credit 51-1 (20,000 rubles) - funds were withdrawn from the current account of bank A for subsequent crediting to the account of bank B.

Debit 51-2 - Debit 57 (20,000 rubles) replenishment of the amount in the account of bank B by transfer from bank A.

In such situations, there will be no temporary lack of funds when assets have already been written off from one account, but not yet credited to another.

Reflection of account balances 57 on balance sheet accounts

In order to calculate the liquidity ratios of an enterprise (current, urgent), use the data from line 1250 of the balance sheet, called “Cash and cash equivalents”. Using these ratios, information is provided about the possibility of repaying the subject’s current short-term obligations using its own funds. Cash and short-term financial investments are recognized as liquid assets.

Composition of line 1250 balance

Balance section	Account debit	What is it formed from?
Current assets	Debit 50	Cash on hand
Current assets	Debit 51	Account balances
Current assets	Debit 52	Currency bank accounts
Current assets	Debit 55	Special accounts - deposits, letters of credit
Current assets	Debit 57	Amounts of transferred money transfers that did not reach their destination
Current assets	Debit 58	Cash equivalents of short-term financial investments (bills and other securities)
Current assets	Debit 76	Other cash equivalents of short-term financial investments

The total value of the listed indicators gives an idea of the content of line 1250 of the balance sheet. Cash in transit helps to reflect the actual picture of the financial condition of the enterprise at a particular moment, preventing assets from getting lost due to time intervals between the issuance of cash and crediting for its intended purpose.

But high performance here is not always seen as a positive sign. Rather, it means that the organization’s money is not working. A well-developed monetary policy of an institution should create conditions not only for the speedy repayment of obligations, but also for the timely investment of funds into circulation, bringing additional profit to the enterprise.

We talked about accounting for cash and settlement transactions in. In this article we will take a closer look at accounting for transfers en route.

Account 57 “Transfers on the way”

Transfers in transit are sums of money deposited at the cash desks of credit institutions or post offices for crediting to the current or other account of the organization, but not yet credited for their intended purpose. Usually we are talking about revenue from the sale of goods (works, services).

To summarize information on the movement of transfers in transit in rubles and foreign currency, account 57 “Transfers in transit” is used (Order of the Ministry of Finance dated October 31, 2000 No. 94n).

In the debit of account 57, monetary amounts are reflected in accounting (for example, when delivering proceeds from a sale) on the basis of a receipt from a credit institution, post office, a copy of accompanying statements when delivering proceeds to collectors, etc.

Account 57 is also used when paying for goods, works and services using bank cards (acquiring), as well as when reflecting the purchase of foreign currency in accounting.

Cash flows on account 57 are accounted for each currency separately.

Typical transactions for account 57

Here are the main accounting records for accounting for transfers in transit.

Operation	Account debit	Account credit
Revenue from the retail sale of goods for which payment was made by bank card is reflected.	57	90 "Sales"
Reflects revenue from the sale of goods, payment for which was made by corporate bank card	57	62 “Settlements with buyers and customers”
Cash proceeds were handed over to the bank through collectors	57	50 "Cashier"
Proceeds from the sale of goods using plastic cards are credited to the current account	51 “Current accounts”	57
The commission of the acquiring bank is withheld	60 “Settlements with suppliers and contractors”	57
Funds were transferred from the current account for the purchase of foreign currency	57	51
The purchased foreign currency is credited to the foreign currency account	52 “Currency accounts”	57

Account 57 of accounting is an active balance sheet account “Transfers in transit”, it is used to record information about the movement of funds that have not yet been credited for their intended purpose or transfers in transit in the currencies of the Russian Federation and foreign countries, deposited for crediting to the enterprise’s account in:

Cash desks of credit organizations;
Savings banks;
Post office cash desks.

Basically, we are talking about amounts of money that are revenue from the sale of goods of enterprises that carry out trading activities.

Based on the Regulations on the rules for organizing cash circulation on the territory of the Russian Federation, cash received at the cash desks of enterprises is subject to mandatory crediting to a bank account.

The main subaccounts of account 57 are indicated in the figure:

Cash and transfers in foreign currency are accounted for separately on account 57.

Typical transactions for account 57 “Transfers in transit”

The main entries for account 57 “Transfers in transit” are presented in the table below:

Dt	CT	Wiring description	Base document
57.01	50	Depositing proceeds into a bank account at the end of the month	Bank receipt, bank account statement
50/51,52	57	Cash “in transit” arrived at the cash desk/bank	Bank statement
57.02	50	Transfer of proceeds to the bank through the collection service	KO-2, receipt for bag, accompanying statement (copy)
51	57.02	Funds are credited to the account (collection)	Bank account statement
57.03/ Get 267 video lessons on 1C for free:	51/52	Transferred funds for the purchase/sale of foreign currency
57	62/76	A money transfer for repayment of debt from a buyer/debtor that has not yet been credited. Receipt – return posting.	Payment order/Bank statement

Examples of transactions with transactions on account 57

Example 1. Receipt and transfer of funds to a bank account

As a result of the shift, the revenue from the trade of the Premd LLC store, received at the cash desk, amounted to 110,000 rubles. An agreement for collection services was concluded between Premd LLC and Finance CJSC, the tariff is 0.2%. Also, Premd LLC has opened a settlement account with Nimex CJSC for payments on salary projects.

Table of transactions for account 57 – Receipt and transfer of funds to a r/account:

Dt	CT	Amount, rub.	Wiring description	Base document
50	90.01	110 000	Reflection of revenue	KO-1
57.02	50	110 000	The funds were transferred to the collector	KO-2, receipt for bag
51	57.02	110 000	Funds are credited to the account	Bank account statement
91.02	51	220	Bank commission for receiving and transferring funds	Bank account statement
57	51	100 000	The funds were written off for transfer to an account at Nimex CJSC	Statement from the sending bank on the account
51	57	100 000	Reflection of cash receipts	Statement of the recipient bank on the account

Example 2. Accounting for acquiring on account 57

Linden LLC is engaged in the sale of goods. At the end of the working day, the total amount of revenue is RUB 400,000.00, including VAT RUB 61,016.95:

Cash payment – RUB 210,000.00, including VAT RUB 32,033.90;
Cashless payment – 190,000.00 rubles, including VAT 28,983.05 rubles;
Bank commission – 1.5%.

Table of entries for accounting for acquiring in accounting:

Account Dt	Kt account	Amount, rub.	Wiring description	Base document
50	90	400 000,00	Revenue receipt	Cash register
57	90	190 000,00	Reflection of revenue by bank transfer	Payment orders
90.03	68	61 016,95	VAT charged on sales	Packing list
51	57	187 150,00	Receipt of funds by bank transfer, taking into account bank commission.	Bank statement
91	57	2 850,00	The bank's acquiring commission is reflected	Bank statement