Published 27 January 2017. Some rules have changed since; ask us for the current position.
The Ministry of Finance of Ukraine has published a draft order "On approving Amendments to the Regulation on documentary support for accounting entries" (Положення про документальне забезпечення записів у бухгалтерському обліку).
The order is intended to bring the Regulation on documentary support for accounting entries, approved by Ministry of Finance Order No. 88 of 24 May 1995, into line with Law of Ukraine No. 1724-VIII of 3 November 2016 "On amending certain laws of Ukraine to remove administrative barriers to the export of services", which amended the Law of Ukraine "On Accounting and Financial Reporting in Ukraine".
Law No. 1724 amended the Law "On Accounting and Financial Reporting in Ukraine" to simplify companies' document flow by relaxing the requirements for primary documents and shortening the list of their mandatory details. In particular, the definition of "primary document" was changed. As a result, a paid (accepted) invoice can serve as the basis for recording a business transaction in the accounts without a mandatory acceptance certificate. The "place of issue" detail was removed.
The draft order proposes amendments to the Regulation on documentary support for accounting entries approved by Ministry of Finance Order No. 88 of 24 May 1995 (the "Regulation"). The Regulation sets out how primary documents, accounting registers and financial statements are prepared, accepted, recorded and stored. The amendments are meant to align it with current legislation and clarify how certain business transactions should be documented.
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