Maintenance of tax accounting

Each organization engaged in commercial activities has to maintain tax accounting. It is designed to accumulate all incoming information about the enterprise's income in order to create a clear tax base, which is used in calculating income tax.

The conduct of tax accounting must be subject to the principles of accuracy, objectivity, fairness, impartiality. In the course of his work the specialist uses all the primary documentation, structures it and draws up appropriate reports. As the object of accounting it is possible to allocate not only income in money equivalent, but also property and available liabilities. Moreover, this process is considered only an integral part, included in the accounting records, and therefore, is subject to unified rules approved in legislation.

If we talk about the system of document circulation, then in this area there are also rules that are mandatory for implementation. For example, every transaction of an economic entity must be timely reflected in its financial statements, the information must be accurate and accurate. Filling of standard forms is carried out with special care, so that a specialist can draw unambiguous conclusions, that is, the ambiguity of judgments is unacceptable. The conduct of tax accounting assumes the availability of information that represents commercial secrets. Such documents are stored in a special way and are given out to employees only under personal responsibility. As a rule, unified reporting forms are used, so that the inspection bodies or external users can quickly process the received data.

Today, the development of modern technologies is of paramount importance, and therefore, accounting both for accounting and tax purposes is often carried out electronically. A specialist is responsible for the correctness and reliability (reliability) of inputs and their competent processing. Moreover, tax accounting can be built in two ways: autonomous (conducted separately from the accounting) and created based on the already introduced accounting. In the first case, the entrepreneur will have to double his expenses, as the staff increases, and the same information is processed twice. In this regard, this system is used very rarely, mainly in large companies. The second method allows you to save some of the financial resources and direct them to expand the business or improve the existing base.

Tax accounting is more often focused on tracking the entrepreneur's income and expenses. At the end of the reporting period, the profit received from the main activity of the enterprise, as well as the proceeds from the sale of unused property, leases and other transactions are calculated. This indicator is included in the tax base, and then used as a basis for calculating the amounts that must be transferred to the budget and extrabudgetary funds. The correction is allowed only if there is a special signature confirming the legality of the adjustment.