When an agent acts on behalf of a buyer, he provides a service to find a supplier. The seller draws up documents for the guarantor, and the services of the intermediary are included in the buyer's expenses:
Receipt of products (work, services): Dt 10 (20, 23, 25, 26, 41, 44) Kt 60.
VAT deduction for purchase: Dt 19 Kt 60, Dt 68 Kt 19.
Accounting for agent services and reimbursable expenses in expenses: Dt 10 (15, 20, 23, 25, 26, 41, 44) Kt 76.
Allocation and deduction of VAT from agent services and reimbursable expenses: Dt 19 Kt 76, Dt 68 Kt 19
Settlements with the agent: Dt 76 Kt 51.
For the agent, the entries for chinese thailand data package reflecting income will be similar to those used when engaging him in sales on behalf of the guarantor.
It is important to note that an agent who makes purchases on his own behalf will have the purchase documents issued in his own name. However, neither the purchased products nor the money received from the guarantor will become his property.
The goods purchased by the agent for the guarantor will be reflected off-balance sheet: Dt 002.
In accounting, the transaction will be shown at the full cost of acquisition in accordance with the account for settlements with the supplier and the account for recording settlements with the guarantor: Dt 76 Kt 60.
The funds that were received from the guarantor and then transferred to the supplier will be accounted for in the following entries:
Dt 51 Kt 76.
Dt 60 Kt 51.
When the product is transferred to the guarantor, it will be written off from the off-balance sheet account: Kt 002.
The broker's remuneration and the amounts to be reimbursed to him by the guarantor shall be received as follows:
Accounting for intermediary remuneration: Dt 76 Kt 90.
Accrual of VAT on remuneration: Dt 90 Kt 68.
Accounting for the expenses of the intermediary that must be reimbursed by the guarantor: Dt 76 Kt 60.
Payment of remuneration and reimbursable expenses from the guarantor (if they were not initially received in an amount exceeding the amount required to pay the supplier): Dt 51 Kt 76.
The guarantor should make the same accounting entries for the purchase and accounting of expenses as in the case of a purchase on his behalf, except that the transaction amount will correspond to the documents drawn up in the name of the intermediary by the seller. In this case, the payments for the purchase will not be made through the intermediary:
Products (works, services) received: Dt 10 (20, 23, 25, 26, 41, 44) Kt 76.
VAT on purchase was taken into account and accepted for deduction: Dt 19 Kt 76, Dt 68 Kt 19.
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