Post by account_disabled on Mar 16, 2024 9:27:58 GMT
The comes to separating revenues, it is also separating the funds actually received; this is the tax aspect of subsidy revenues. In the case of beneficiaries who do not keep full accounting, meeting the requirement to keep separate accounting records can be achieved by preparing a list of documents confirming the incurred project expenses in the form of a spreadsheet. Separation of bank accounts settlement of subsidies Very often, the co financing agreement requires the beneficiary to open a separate bank account from which eligible expenses will be paid and a separate one for advance payments.
This requirement should not be underestimated, and even if there is no requirement to separate such bank accounts, we still recommend doing so. Separating such an account may also be a partial fulfillment of the condition for keeping Buy Lead project records; sometimes it is also necessary to separate settlements, and this is sometimes impossible in accounting systems related to the subsidy The most general rule is: Eligible costs of funding nontax costs non tax revenues PLN , of eligible costs subsidy PLN of nontax costs and PLAN of nontax revenues However, it should be remembered that its direct application is only possible when the eligible cost is taxable in the same period.
If, for example, we settle certain costs over time or depreciate a fixed asset purchased as part of the project, we make adjustments to nontax costs and revenues in parallel with RMK or depreciation write offs. Therefore, if we purchase a fixed asset depreciated on a straight line basis, we adjust the cost for each depreciation writeoff, while calculating the income in the same value. Despite the recognition of nontax revenues from subsidy, tax revenues from this should also be recorded; this is done on the date of receipt of the subsidy. Most often, this is off balance sheet accounting.
This requirement should not be underestimated, and even if there is no requirement to separate such bank accounts, we still recommend doing so. Separating such an account may also be a partial fulfillment of the condition for keeping Buy Lead project records; sometimes it is also necessary to separate settlements, and this is sometimes impossible in accounting systems related to the subsidy The most general rule is: Eligible costs of funding nontax costs non tax revenues PLN , of eligible costs subsidy PLN of nontax costs and PLAN of nontax revenues However, it should be remembered that its direct application is only possible when the eligible cost is taxable in the same period.
If, for example, we settle certain costs over time or depreciate a fixed asset purchased as part of the project, we make adjustments to nontax costs and revenues in parallel with RMK or depreciation write offs. Therefore, if we purchase a fixed asset depreciated on a straight line basis, we adjust the cost for each depreciation writeoff, while calculating the income in the same value. Despite the recognition of nontax revenues from subsidy, tax revenues from this should also be recorded; this is done on the date of receipt of the subsidy. Most often, this is off balance sheet accounting.