To reconcile mutual settlements, legal entities and individual entrepreneurs often draw up a corresponding act. The legislation does not provide for a single template and obligation to use this particular document, so each company can develop its own form. A ready-made example and instructions for filling out are presented in the article.
Recording of expenditure transactions of each company is mandatory. For this purpose, payment documents, receipts, invoices, orders and other papers are drawn up. However, in practice there is a need to compare mutual settlements between two or more counterparties, for which a reconciliation report is drawn up.
As a rule, it is signed by legal entities, as well as individual entrepreneurs. The names of the parties are similar to those indicated in the relevant agreements:
- "Customer";
- "Executor".
The document reflects all types of transactions between companies (or individual settlements, selectively) for a specific period - month, quarter, year (the reporting period is determined by agreement). Accounting staff are responsible for registration. They produce:
- drawing up an act;
- reconciliation with the data that came from the counterparty.
The document can be drawn up as an annex to the contract or as a separate document. And in this regard, we can conditionally distinguish 2 varieties:
- Appendix to the main agreement - for example, to a supply contract. In this case, the document is an integral part of this agreement and has no legal force on its own, in the absence of a basic agreement. As a rule, such records record information about all operations that took place within the framework of a given agreement.
- An independent document that is used independently of a specific agreement. It combines mutual financial settlements for a specific period of time (or for individual groups of goods and services).
The supply agreement should additionally specify the terms of reconciliation of mutual settlements, the timing and procedure for signing the act. Otherwise, an unscrupulous counterparty may evade signing the paper.
Form and sample document
As a rule, it is a summary table with a description of each type of operation (service, work) and its amount. The document must reflect the details and names of both parties and record the presence/absence of the customer’s debt to the contractor on a specific date.
The form and sample of the mutual settlements reconciliation act are presented below.
The number of copies is determined by the number of parties, so the minimum is 2 original documents that have equal legal force.
Instructions for compilation
First, you need to pay attention to a few recommendations:
- The document must indicate the reporting period for which the reconciliation is made.
- You should always indicate the date it was compiled. It does not have to be related to the reporting period. For example, the act was drawn up on January 29, 2018, while the reporting period is from January 1, 2017 to December 31, 2017.
- The parties indicate not only the types of transactions (services), but also the documents on the basis of which they were recorded (for example, invoices).
- As a rule, they indicate not only the total amount, but also the opening balance (balance).
- At the end of the page, representatives of the parties put their signatures. As a rule, the chief accountant has the right to sign. It can also be signed by managers - this is especially important in cases where there are disagreements between partners regarding settlement transactions.
NOTE. In some cases, the company does not use the usual blue print. Then the representative just needs to put his own signature, decipher it (last name, initials) and indicate his position.
Thus, drawing up an act allows you to simplify the procedure for reconciling mutual settlements and confirm the absence of claims between the customer and the contractor. The document is usually drawn up in printed form; erasures and corrections are not allowed.
If you are looking for where to download a blank settlement reconciliation report form in EXCEL, WORD format and learn how to fill out or read it in paper form or in 1C accounting, then you have come to the right site. We will give examples of how to draw up a form with counterparties.
General concepts and composition of the reconciliation report
An act of reconciliation of mutual settlements (sometimes mutual settlements) is a document showing the status of settlements between organizations for a specific period. The law does not regulate the exact form of this act, so it can be drawn up in a convenient form. Drawing up a reconciliation report is the task of accounting and is drawn up in two copies, for each of the parties. It is advisable to indicate in the document within what time period the second signatory must return one copy back, because the court does not consider violations of such deadlines if they were not specified in the act.
Covering letter for the settlement reconciliation report
A covering letter is an auxiliary document to the reconciliation report attached upon sending. It indicates the option for sending the act, when the act was signed, for what period the reconciliation is made and how to resolve disagreements. It is worth noting that if the letter is not signed by the counterparty, it has no legal force. You can download the cover letter form below in WORD and PDF formats.
How to read a reconciliation statement
Sometimes there are difficulties in how to read reconciliation statements correctly; most often this happens in 1C accounting for account 62. When settling with a counterparty, it is not clear what is debit and credit in the act.
But no matter how simple it seemed:
- Debit - the amount owed to our organization
- Credit - the amount we owe
If you experience other difficulties when reading this document, write about it in the comments, we will definitely answer you.
The act of reconciliation of mutual settlements under the agreement is also filled out in free form; the conditions for carrying out such reconciliations can be regulated by the agreement itself. A separate clause in the contract can indicate the timing, frequency and procedure for reconciliations.
If you find it difficult to fill out the reconciliation report, we have provided an example of a completed form below. It contains all the necessary data to understand how to correctly fill out such an act.
How to make a reconciliation report for mutual settlements 1c
In this five-minute video, Dina Krasnova very clearly explains how to create an act in the 1C program
Download the settlement act and the accompanying letter
If you have not found the answer to your question or there are still misunderstandings, contact a lawyer for a free consultation in the chat on our website
| Act of reconciliation of mutual settlements form |  |  |  |
When business entities work with each other, fulfilling their duties in accordance with concluded partnership contracts, they exchange material and monetary values with each other. These can be one-time or long-term operations. In order to settle mutual settlements and check whether enterprises have debts, it is recommended to draw up a reconciliation report for mutual settlements.
Reconciliation of mutual settlements with counterparties is carried out to clarify the presence of mutual requirements expressed in cost indicators.
According to the current contract, one company supplies another with material assets, provides a service, or performs a certain list of works.
On the other hand, her partner must pay for the goods, work or service received either in cash or in any way established by a signed contract.
For each such action, primary documents are drawn up, on the basis of which all parties to the agreement record the transactions in their records.
Often the considered facts of economic activity are not all produced on the same day. Either shipment occurs in batches, or payment is made in installments.
Since these transactions are reflected by different people over a certain period of time, some of the partners may miss some facts.
Since all organizations must prepare financial statements, reconciliation of mutual settlements must be carried out on reporting dates, which are the beginning of the year, quarter, month, depending on the period for which the report is compiled.
Reconciliation of settlements must be carried out when closing contracts upon their completion, or upon early termination.
Attention! Also, a reconciliation act is necessary when considering disputes in arbitration courts. If the company’s debt is confirmed by this document, which contains the signatures of the debtor, then the judge’s decision will be in favor of the plaintiff.
If bankruptcy is filed and a queue of creditors is drawn up, then the signed reconciliation act with the debtor will be of significant importance.
Rules for drawing up the Act
The initiator of drawing up a mutual settlement act can be any of the parties to the contractual relationship. In addition, if third parties also participate in them (for example, one company makes payments for another), then the initiative to conduct reconciliation of mutual settlements may come from it.
A successful business involves cooperation with a large number of companies with whom cash payments are regularly made. A significant share is also occupied by settlements with the state - for taxes and insurance premiums. All these monetary relations require careful monitoring, and the easiest way to do this is through regular monitoring.
How to read the reconciliation report correctly
Purposes of signing
Sample act of disagreement
The act of disagreement is signed by the same person who signs the main acts of reconciliation. Copies of documents confirming the disagreement must be attached to it.
Varieties of such a document
Most common
The most common types of reconciliation acts include:
- Reconciliation report with the supplier. Contains transactions accounted for in account 60. The debit reflects all payments made to the supplier, and the credit reflects the amount of product deliveries.
- Reconciliation report with the buyer. In this case, accounting is kept in account 62. The amounts of shipments are recorded as a debit, and payments transferred by buyers are recorded as a credit.
- Reconciliation report of completed work. It is drawn up according to the general rules, only instead of the amounts of product deliveries, it reflects the amounts according to the acts of work performed.
- Group reconciliation act. It is a set of reconciliation acts for all existing counterparties of the company. It is formed by installing a special extension to the accounting program. This method of generating acts is especially convenient at the end of the reporting period, when it is necessary to take inventory of the entire volume of settlements.
- Zero reconciliation report. A distinctive feature is the balance equal to zero at the end of the period considered in the document.
- . It is drawn up in the same way as acts for any other services. When the lessor generates the document, the rental amounts will be entered on the debit side according to the invoices issued, and on the credit side the payments transferred by the tenant will be entered.
Reconciliation acts are also classified depending on the status of the counterparty - or individual. Moreover, not only ordinary citizens with whom the company has any settlements can act as an individual. Such an act is formed according to the general rules, as in the case of reconciliation with organizations. The company does not have the right to refuse to provide an individual with a reconciliation report if it was requested by him.
Acts of reconciliation with counterparties
In the course of an organization’s activities, especially if these activities are related to the provision of services and the sale of goods in large volumes, sooner or later the need arises to check the current state of payments. In addition, any company in one way or another uses the services of third-party organizations (utilities, equipment maintenance), and also purchases raw materials from suppliers.
In order to prevent the occurrence of overdue accounts payable, as well as in order to timely receive revenue for goods and services sold in full, it is advisable for any enterprise to develop a reconciliation act for mutual settlements with counterparties.
Reconciliation report form
Unfortunately, or maybe fortunately, there is no single form of reconciliation report. The law does not approve a specific form, so each organization can independently develop a suitable form depending on the specifics of its work.
Each reconciliation act has a unique serial number. Due to the fact that it is drawn up for a specific date, it should also be indicated next to the document number. Numbering can be done within a month, quarter, or year. All reconciliation acts are recorded in a journal for ease of control.
As a rule, the act contains a so-called “cap”. It indicates the names of the debtor and creditor organizations. The following is a table that lists the debt obligations, the amounts transferred to pay off the debt, and also displays the ending balance as of a certain date (usually the end of the reporting period - month, quarter, year). At the end, the debit or credit balance must be indicated in words.
Reconciliation reports are signed by the chief accountant and the head of the organization. Signatures must be affixed with the seal of the enterprise.
Once completed, the reconciliation report is sent to the counterparty. In this case, the head and chief accountant of this organization must either sign the available data, or make adjustments to the records and transfer the signed document back.
Currently, reconciliation report forms are included in all accounting programs. There are undoubted advantages to this. Firstly, such acts are filled out automatically based on the submitted documents. Secondly, the accountant will not have any difficulties developing a special form.
Acts are always drawn up in two copies.
How to reconcile with counterparties and draw up a report
One is returned to the creditor, and the other remains with the debtor organization.
The importance of the reconciliation report
As a rule, when collaborating with regular, trusted, conscientious buyers, reconciliation acts are purely a formality. If all payments are made on time, debt does not accumulate, then all reconciliation reports are issued with a zero balance at the end of the period.
If the organization’s receivables are constantly growing, and debtors are in no hurry to fulfill their obligations, the reconciliation act will become one of the grounds for transferring the debt case to court in order to collect the debt.
The statute of limitations for receivables is 3 years from the date the debt arose. When signing a reconciliation act, the limitation period is counted not from the moment when the debt arose, but from the moment the act was signed.
When applying to the courts, the reconciliation act is a mandatory document. Without it, the court has the right not to consider the claim for debt repayment.
In the process of economic activity, some managers use actsreconciliations. As a rule, it is best to prepare such documents before submitting reports, as they allow you to find inaccuracies in amounts and VAT.
You will need
- - documentation;
- - calculator;
- - reconciliation report form.
Instructions
Before forming an act reconciliations, check the correctness of registration and completion of primary and tax documents (waybills, invoices, receipt orders).
After this, review the correctness of the reflection of transactions in accounting. Remember that if you make a mistake in the posting, the transaction may not be included in the act reconciliations(if you are using the program).
If you are drawing up an act reconciliations manually, select all documents. Place them in chronological order - from first to last.
You can develop the form yourself, since the unified form has not been approved. This document must necessarily contain information such as the date of preparation - the time interval for which the calculations are reconciled - details of the parties - the serial number of the document - the date of the document - the amount of debit and credit. At the end of the act reconciliations must be signed by both parties to the agreement.
If calculations were made previously, enter the balance at the beginning of the period. You can get this information from the previous reconciliations or from the account card, which reflects transactions with this counterparty (account 62, 76 and others).
Then start filling out the form. If you purchased something from a counterparty, indicate the amount in credit; if you paid for the product, indicate the amount in debit. Below, summarize, that is, sum up the amount of debit, credit and find out the difference, which will be the debt of one party or another.
For reconciliations You will also need an act from the counterparty, with the help of which you will receive information about the data reflected in its accounting.
Reconciliation Act
If any discrepancies are identified, check the documents and identify inaccurate data. After approval, sign the counterparty’s copy and give your copy to him for signature. At the end, put the blue imprint of the organization's seal.
Attention, TODAY only!
A correctly executed reconciliation report—no accounting errors or disagreements with counterparties
If you are looking for where to download a blank settlement reconciliation report form in EXCEL, WORD format and learn how to fill out or read it in paper form or in 1C accounting, then you have come to the right site.
Acts of reconciliation with counterparties
We will give examples of how to draw up a form with counterparties.
General concepts and composition of the reconciliation report
An act of reconciliation of mutual settlements (sometimes mutual settlements) is a document showing the status of settlements between organizations for a specific period. The law does not regulate the exact form of this act, so it can be drawn up in a convenient form. Drawing up a reconciliation report is the task of accounting and is drawn up in two copies, for each of the parties. It is advisable to indicate in the document within what time period the second signatory must return one copy back, because the court does not consider violations of such deadlines if they were not specified in the act.
Covering letter for the settlement reconciliation report
A covering letter is an auxiliary document to the reconciliation report attached upon sending. It indicates the option for sending the act, when the act was signed, for what period the reconciliation is made and how to resolve disagreements. It is worth noting that if the letter is not signed by the counterparty, it has no legal force. You can download the cover letter form below in WORD and PDF formats.
How to read a reconciliation statement
Sometimes there are difficulties in how to read reconciliation statements correctly; most often this happens in 1C accounting for account 62. When settling with a counterparty, it is not clear what is debit and credit in the act.
But no matter how simple it seemed:
- Debit - the amount owed to our organization
- Credit - the amount we owe
If you experience other difficulties when reading this document, write about it in the comments, we will definitely answer you.
The act of reconciliation of mutual settlements under the agreement is also filled out in free form; the conditions for carrying out such reconciliations can be regulated by the agreement itself. A separate clause in the contract can indicate the timing, frequency and procedure for reconciliations.
Sample of filling out the reconciliation report
If you find it difficult to fill out the reconciliation report, we have provided an example of a completed form below. It contains all the necessary data to understand how to correctly fill out such an act.
How to make a reconciliation report for mutual settlements 1c
In this five-minute video, Dina Krasnova very clearly explains how to create an act in the 1C program
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