Correspondence of accounts in the accounting systemaccounting is a certain record of transactions that are interrelated and continuous, to the accounts of accounting support. The relationship is achieved through the use of such a technique as double entry, that is, the recording of each transaction is carried out on the debit of the first account with its simultaneous crediting of the second account. It turns out that between the two correspondent accounts a certain relationship is formed, which is called correspondence of accounts. Such accounts are usually called correspondent accounts.
Similar display of transactions in reportingsignificantly increases the reliability of the entire accounting system. In addition, the essence of economic operations is much more correct. The result of this is the possibility of analyzing all transactions performed in accounting without special problems, and specialists based on this mapping of operations have the opportunity to draw the most accurate conclusions about how exactly the economic activities of the enterprise are conducted.
A chart of accounting accounts, as well as instructions for itsuse should be used by organizations, in addition to credit and budgetary, different forms of ownership, accounting through the double-entry technique. This allows you to give the entire accounting systemic character, whereby a certain relationship between accounts is provided. Thanks to correspondence of accounts, it is possible to control the movement of rights and property, the sources of their education, and also to find out where they are coming from and where they are directed. With their help, you can check the economic content of operations, the legality of their implementation. All amounts are reflected in the loan and debit of different accounts, so the turnover should be equal. If, in the end, it turns out that the equality is violated, it is a question of what has been mistaken in making information in the record, but they must be identified and corrected. Correct correspondence of accounts is the basis of reliability and accuracy of accounting.
Due to the information section, which describesscheme and rules for applying the principles of double entry, it becomes clear how to properly use the chart of accounts. It reflects the most frequently occurring operations, and describes their reflection by means of correspondence of accounts with a detailed description of each transaction by records on the credit of one account and the debit of the other. Correspondence of accounts for each transaction is described with indication of the forms of the primary documentation that is used for processing this operation. Thanks to the primary documents, the company's economic activities are continuously and continuously reflected in the accounting records. The accountant has the right to report only those records that have been documented. Primary documents serve as the basis for the entire system of accounting records, which are carried out through correspondence of accounts.
Each organization has such cases,when it is necessary to make transactions, executed by documents, which do not have a standard form. This assumes that the form of the document that was created by the organization is approved and consolidated in the accounting policy. The document must necessarily contain the entire set of necessary requisites. The Federal Law on Accounting says that the name of the organization, the name of the document, the date, number, a brief description of the operation, a monetary or quantitative description of the operation, as well as the signatures of the persons responsible for the operation serve as mandatory requisites.
It turns out that the correspondence of accounts is an obligatory condition for the conduct of accounting.
