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REQUIREMENTS FOR PREPARATION OF PRIMARY DOCUMENTS

 Every accountant, and to a lesser extent a lawyer, was faced with the issue of primary documents, their list, rules of completion and retention periods. This article will be devoted to this issue.

 The primary documents of the company should be treated as the basis of accounting, because it is from their presence / absence and correctness of the preparation of a smooth tax audit and the absence of procedural problems in the company’s activities (including trouble-free registration of tax invoices). First of all, it should be noted that in 90% of cases, an incorrectly drafted primary document is the reason for a lawsuit with the State Tax Service of Ukraine. This is due to the fact that the tax authorities have “formal” (unwritten) rules for registration of business transactions.

 Law № 966 stipulates that this is a document that contains information about the transaction and confirms the fact of its implementation (Article 1). The order of the Ministry of Finance №88 also contains definitions. According to it, such is a document in written / electronic form that confirms and records business transactions (including management permits for their conduct) (paragraph 2.1.).

 A large number of auditors, lawyers, accountants include the primary documents of the contract for the provision of services or performance of works. However, it is not so, but only fixes the contractual relationship between the parties. But further documents under the contract are the primary documents.

In particular, these may be:

  • Consignment note;
  • Sales Invoice;
  • Act of acceptance-transfer;
  • Permission of the general meeting of the company, etc.

 At the same time, neither the Tax Code of Ukraine nor other regulations contain a list of primary documents.

 Also, let’s analyze what details the primary document should have so that it does not cause questions and suspicion among taxpayers.

The above-mentioned regulations contain requirements for the presence of mandatory details in the primary document:

  • name;
  • date;
  • place of assembly;
  • name of the legal entity;
  • description of the operation;
  • unit of measurement of the performed operation (physical / cost expression);
  • position and surname of the signatory;
  • signature;
  • other additional information.

 Such additional information may be: the USREOU code of the enterprise, the source number of the document, the basis for transactions, power of attorney, etc.

Let’s share with you one life hack:

if the document is drawn up in the course of performance of the contract and contains the above-stated requisites, it is primary and will not cause any remarks at tax specialists.

 Therefore, proper accounting is the key to the success of your business. Choose the accounting support of the law firm “Prikhodko and Partners” and be sure of the correctness of its activities.

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