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10 September 2020

Accounting of goods and primary documents of entrepreneurs

These changes are stipulated in the amendments introduced into the Law On Application of Registrars of Settlement Transactions (Law on RST)About application of registrars of settlement transactions About application of registrars of settlement transactions About application of registrars of settlement transactions, in particular clause 12 of article 3 was restated in the new version, according to which the list of individual entrepreneurs obliged to keep accounts of goods and store primary documents for goods has been expanded.

 

Who is obliged to have primary documents

Starting from August 1, 2020 the following individual entrepreneurs shall be obliged to keep accounts of goods and have primary documents, as well as provide during the inspection the controlling bodies the documents (in paper or electronic form) confirming the accounting and origination of goods that are available at the point of sale (business object) as of the moment of inspection:

- Individual entrepreneurs that operate based on the general taxation system;

- Individual entrepreneurs – payers of single tax– payers of VAT;

- Individual entrepreneurs – payers of single tax – non-payers of VAT, whose activities are related to:

- sale of technically complex household goods, subject to warranty repair;

- pharmaceuticals and medical devices;

- jewelry and household items from precious metal and precious organogenous stones and semi-precious stones.

It should be noted that even before August 1, Individual entrepreneurs that operate based on the general taxation system or based on single tax but are registered as VAT payers were obliged to keep accounts and have primary documents. According to the law they shall be obliged “to keep accounts of goods supply at warehouses and/or points of sale according to the procedure stipulated in the law, as well as sell only goods (services) indicated in the respective accounts”. This requirement was not applicable to individual entrepreneurs payers of single tax – non-payers of VAT.

Primary documents confirming the origination of goods

The specific list of confirmation documents is not defined in the effective law. Depending on the type of the transaction primary documents may vary. In case of the goods purchase or sale on the territory of Ukraine, the following documents may be required as primary documents:

- invoice;

- delivery note from the supplier;

- settlement document (RST (Program register of settlement transactions) fiscal receipt), if the payment was made in cash or payment order in case of cashless transactions);

- supply (sale) agreement;

- consignment note, if the goods are delivered by automobile transport;

- other goods supporting documents depending on the type of vehicle used for the goods delivery;

- purchase certificate (in case of purchase from private individuals).

In case of goods sale abroad (export) primary documents may also include customs declaration, invoice.

For the intermediary agreements or customer's raw materials processing the goods (raw materials) transfer certificates and works completion (services provision) certificates shall be provided.

All the mandatory details of the primary document stipulated in part 2 of article 9 of the Law on financial accounting or in the Order of the Ministry of Finance of Ukraine No. 13 of 21.01.2016 considering the last changes (in terms of RST (Program register of settlement transactions) fiscal receipt) shall be indicated in the respective documents.

Who can operate without primary documents

According to the updated version of clause 12 of article 3 of the Law on RST the obligation to have primary documents for the goods purchase shall not be applicable to:
· entrepreneurs – payers of single tax that do not use RST;
entrepreneurs – payers of single tax – non-payers of VAT that do not sell technically complex household goods, subject to warranty repair, pharmaceuticals and medical devices, jewelry and household items from precious metal and precious organogenous stones and semi-precious stones.
Accounting by goods supply of the individual entrepreneur 
According to the Law on RST accounts on goods supply are required but as of today no procedure for goods supply accounting is defined in the legislation. According to the law accounts shall be kept but it is not clear how. Such situation exists for a long time. Tax officers agree in the their explanations that the procedure for goods accounting by entrepreneurs is not defined and point that individual entrepreneurs have the possibility to keep accounts at their discretion according to the requirements of Provision (standard) of the financial accounting 9 "Inventories" Provision (standards) of financial accounting 9 Inventories as legal entities. However, the fact that individual entrepreneurs have the right to do it and may do it at their discretion does not mean that they are obliged to do so.
Thus, one may come to the conclusion that the accounting is required but the way and the form of the accounting may chosen by an entrepreneur. It is important to have as of the moment of the tax inspection documents (data, tables, either accounting or independently developed programs) based on which the amount of the goods available in stock may be defined. In addition, during the inventory the number of the available goods shall correspond the numbers specified in the accounts.