Electronic money. No cuts

We in Elba are often asked questions like “I am a“ simplified worker ”, I have an electronic wallet in Yandex.Money, how can I take it into account in my income and expenses before tax reporting?”.

If you google, on the Internet you can find a lot of information and experience in this area. However, we want to save your precious time, and therefore we will share our knowledge.

I am a physical person and do not want to deal with papers

Often, businessmen carry out settlements with clients through an ordinary physical person wallet. Fortunately, now it's just like two and two. Start a wallet in WebMoney, Yandex.Money or any other system you like. Then you inform the client of the wallet number or place the number on your website. And then withdraw the electronic money to your card or withdraw cash from your e-wallet through bank transfer systems. For the transaction, the payment system will take a commission - from you or from your client - it's up to you. You will also pay to get money - on your card, for example.
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When calculating the tax base, you will not be able to write off the commission of the electronic payment system to expenses. Because the list of eligible costs for “simplified” is closed and much shorter than for individual entrepreneurs in the general taxation system.

Until the Federal Law No. 161- dated June 27, 2011 “On the National Payment System” came into force, electronic money cannot be equated to the present. Some electronic payment systems consider them as natural income, others as financial liabilities or securities. Anyway, electronic money is something that has an equivalent in rubles.

In tax incomes, electronic money will be counted at the time of receipt of your electronic wallet. Consider an example.

Suppose you have an electronic wallet in Yandex.Money.

01.07 - you purchased 1500 Yandex. Money. Taking into account the commissions (1.5%), your real costs amounted to 1522.5 rubles.

02.07 - you paid for the Internet - 600 Ya. Money. No fees.

03.07 - you received a payment from the client - 5,000. Money.

04.07 - You have transferred 3000 Ya. Money to the card. Withheld a commission of 3%. The map actually turned out to be 2910 rubles.

01.08 - Yandex.Money provided you with a transaction report for July, where all your transactions are reflected.

The following entries will need to be made in the Income and Expenditures Book (using the example of the USN “revenues minus expenses”):

No. p / p	Date and number of primary document	Contents of operation	Revenues taken into account when calculating the tax base	Expenses taken into account when calculating the tax base
one	03.07 Transaction number in the electronic payment system	Payment from the client	5000
		Total:	5000

Thus, it is clear that paying for your business needs with electronic money cannot be taken into account in expenses, as well as reducing income by the amount of commission.

This situation will continue until certain provisions of the new law 161- “On the national payment system” come into force. We will tell about it below.

I am an SP or an organization and I want everything to be “by the rules”

Of course, if you are a private entrepreneur or a legal entity, no one will forbid you to open a wallet on a physical person, take Yandex.Money, for example, and then display them on your current account in the same way as described above. Naturally, the commission you will not write off the expenses either.

And what to do if you want to do everything “by letter” - and write off commissions to expenses, and have a formal relationship with the payment system?

You can arrange payment by electronic money in two ways:

1. Conclude an agency agreement directly with the payment system (WebMoney, Yandex, Money, etc.). This will save on commissions.
   
   
2. Conclude an agreement with an intermediary (payment aggregator) that will allow accepting various e-currencies for payment for goods or services and without having wallets in all these systems (Assist, Money.Online, RBC-Money, Robokassa and etc.) Document circulation will be less, and there will be more ways to receive money from customers.
   
   

When choosing a method, several factors should be taken into account: the planned volume of transactions, the number of desired types of electronic money, ease of use, quality of technical support, etc.

The point is that you do not have a wallet. On the basis of the contract, all the money transferred by your customers is transferred to your current account. In this case, the paying agent will automatically withhold the commission for accepting payments. This commission you can take into account in tax expenses.

Let's look at an example.

During the month, customers paid for your product via the Internet. Every week you brought to your current account for 100,000 rubles. (at the same time, the agent held 5% from each transfer). On the 1st of the next month, the payment agent sent you a report on payments accepted. In this case, the agent’s commission is not necessary for you to be shown in expenses, because in reality you receive money on the current account with the commission already withheld.

If you have a simplified document with the object "income", and the agent sends payment orders indicating the amount of the agency fee, then you will have to take into account in income the entire amount - 100%.

Your Income and Expense Accounting Book will contain the following entries:

No. p / p	Date and number of primary document	Contents of operation	Revenues taken into account when calculating the tax base	Expenses taken into account when calculating the tax base
one	7.08 Payment order for funds transfer	Transfer of funds under an agreement with an agent	100,000
2	14.08 Payment order for transfer of funds	Transfer of funds under an agreement with an agent	100,000
3	21.08 Payment order for transfer of funds	Transfer of funds under an agreement with an agent	100,000
four	30.08 Payment order for transfer of funds	Transfer of funds under an agreement with an agent	100,000
		Total:	400,000

“If you have a simplified order with the object“ income minus expenses ”, then you will be able to take the amount of the commission into expenses.

No. p / p	Date and number of primary document	Contents of operation	Revenues taken into account when calculating the tax base	Expenses taken into account when calculating the tax base
one	7.08 Payment order for funds transfer	Transfer of funds under an agreement with an agent	100,000	5000
2	14.08 Payment order for transfer of funds	Transfer of funds under an agreement with an agent	100,000	5000
3	21.08 Payment order for transfer of funds	Transfer of funds under an agreement with an agent	100,000	5000
four	30.08 Payment order for transfer of funds	Transfer of funds under an agreement with an agent	100,000
		Total:	400,000	20,000

But if the money is transferred to you in full, and you yourself already deduct a commission to the agent, then the amount of income is recorded, as before, upon the arrival of money. And the amount of expenditure (in the amount of commission) is recorded with the date of debiting the money from your current account (or the date of the agency report - whichever is later).

For lovers of accounting, you can cite a list of accounting entries:

Contents of operation	D	TO	Date of operation
Buyer pays for product or service (T / Y)
The buyer transferred the funds to the wallet in the electronic payment system	76-5 "Calculations with the operator of the payment system (OPS)"	62 "Calculations with customers and customers"	Date of receipt of the payment message (transactions in the electronic payment system)
Transferred funds by agent	51 "Settlement accounts"	76.5	Date of receipt of money from the agent (payment order). For this date, we take into account in tax revenues
Reflects the amount of the agency fee (this is if the agent withholds a commission immediately)	91.2 "Other expenses"	76.5	Date of receipt of the withdrawal amount and reporting documentation from the agent (agent report or transaction report). For this date, we take into account in tax expenses
Reflects the implementation of the T / C to the buyer	62 "Calculations with customers and customers"	90.1 “Revenue”	On the date of the transfer of goods / services to the buyer

The law "On the national payment system." And where am I and my company?

On September 29, 2011, Federal Law No. 161-FZ of June 27, 2011 “On the National Payment System” will come into force. True, certain provisions of this law are legalized in about a year. Therefore, major improvements for entrepreneurs are not expected. As well as significant changes in the process of interaction with electronic payment systems.

Among other interesting provisions of the new law is the clause that now the business will be obliged to inform the Federal Tax Service on the opening of electronic wallets (letter of the Federal Tax Service on July 13, 2011 “On the occurrence (termination) of the right to use corporate electronic means of payment”).

This means that if you are an individual entrepreneur or organization, then when you create a corporate wallet, for example, in Yandex.Money, you will be required to notify your tax account within 7 calendar days. Otherwise - a fine of 5,000 rubles. (Sub. 1 p. 2 of Art. 23, Art. 78 of the Tax Code of the Russian Federation). Similarly, you will need to notify about the closure of the electronic wallet.

Expenses that you pay with electronic money can be taken into account in taxes. BUT. There is a problem here - clause 9 of Article 7 of the Law prohibits organizations and entrepreneurs from paying with electronic money between themselves. Therefore, only payments to individuals, for example, under GPC agreements, will be able to get into expenses.

The accounting of transactions with electronic money for organizations will be a little “mooed”. To account for electronic money, it will be possible to create a subaccount "Electronic money" on account 55 "Special accounts". You can top up your corporate wallet only from your current account. You can also withdraw money through a checking account. In this case, the commission of the payment system will fall into expenses.

We give examples of transactions for the accounting of transactions with electronic money.

Contents of operation	D	TO	Date of operation
The buyer pays for our own wallet in the payment system
Buyer paid for the service	55.4 purse"	62 "Calculations with customers and customers"	Date of transaction for the electronic payment system report
Withdrawing money from el. wallet	51 "Current account"	55.4	Date of receipt on the r / s (cash)
Retained the commission of the electronic payment system with e-mail. wallet	76.5 "Calculations with the operator of the electronic payment system"	55.4	Taxes are not counted. The date is the same as the output date
Payment system commission charged to expenses	91.2 "Other expenses"	76.5	We count in taxes. Based on transaction report
Service provided	62	90.1
Replenish email. wallet through current account
Listed funds with calc. accounts on el. purse	55.4	51	On the date indicated in the bank statement
Reflected in the costs of the amount of the fee for the completion of e. wallet	91.2	51	On the date indicated in the bank statement

As we see, for business the new law will most likely streamline the electronic means of calculation, which is not bad at all.

In the meantime, the conclusion of an agency agreement with an electronic payment system or a payment aggregator is the most appropriate way for a business. In this case, you can safely write off expenses and reduce your tax base.