This chapter contains the topic:
Correspondence is the relationship between accounts used to process certain types of transactions. The Russian authority provides a standard set of Russia Statutory Accounts and also indicates the allowable debits and credits between each of these Accounts. For example, Russia Statutory account for fixed asset costs is 01, accumulated depreciation is 02, and so on. If you debit an account for an asset under construction, you can credit only an account for materials, stock, accounts payable, future period expenses, or other payables. The rules for correspondence also specify the naming conventions for the accounts.
When you generate reports to meet legal requirements, you can produce the reports only from accounts that are allowed under the rules of correspondence. These reports include the balance sheet, income statement, and cash flow reports.
This part provides an overview of correspondence accounts and describes:
Setting up correspondence
Posting correspondence batches
Setting up correspondence reports, including:
Statutory Account Summary
Account Analysis by Correspondence
Customer Supplier Statement of Account
All Statutory Accounts Summary Report over Period