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What are the requirements for processing primary documents?

Each accountant and, to a lesser extent, a lawyer, faced with the issue of primary documents, their list, filling rules and storage periods. This article will be devoted to this issue.
The primary documents of the enterprise should be regarded as the basis of accounting, since it is precisely their presence / absence and the correctness of their preparation that determine the smooth passage of the tax audit and the absence of procedural problems in the activities of the enterprise (in particular, the trouble-free registration of tax invoices). First of all, it should be noted that in 90% of cases, an incorrectly drawn up primary document is the reason for a litigation with the State Tax Service of Ukraine. This is due to the fact that it is the tax authorities who have “formal” (unwritten) rules for the design of business transactions.

Law No. 966 determines that such is a document containing information about an operation and confirming the fact of its implementation (Article 1). Ministry of Finance Order No. 88 also contains a definition. According to him, such a document in written / electronic form confirms and fixes business transactions (in particular, management’s permission to conduct them) (clause 2.1.).

A large number of auditors, lawyers, accountants refer to the primary documents as the contract for the provision of services or the performance of work. However, it is not, but only fixes the contractual relationship between the parties. But further documents within the framework of the execution of the contract are the primary documents.

? In particular, these may be:

?- Consignment note;
?- Invoice;
?- Acceptance certificate;
?- Permission of the general meeting of the society and the like.

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

Also, we will analyze what details the primary document should have so that it does not raise questions and suspicions from the tax authorities.

? The aforementioned regulatory legal acts contain requirements for the presence of mandatory details in the primary document:

?-name;
?-date;
?-place of compilation;
?-name of the legal entity;
?-description of the operation;
?-unit of measure of the performed operation (natural value / value expression)
?-position and surname of the signatory;
?-signature;
?-other additional information.

Such additional information can be the EDRPOU code of the enterprise, the outgoing document number, the basis for the operations, the power of attorney, and the like.

ℹ Let’s share one life hack with you:
if the document is drawn up during the execution of the contract and contains the aforementioned details, it is primary and will not cause any comments from the tax authorities!

So, proper accounting is the key to the success of your business. Choose the accounting support of the Prikhodko & Partners Law Firm and be sure of the correct execution of its activities.

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