How to do the accounting entries on behalf of the payroll

1, wage accruals (payable wages) borrow: manufacturing overhead - wages (production staff)

Administrative expenses - wages (management personnel)

Sales expenses - wages (sales staff)

credit: payable remuneration -Salary

2. The five insurance and one pension paid by the enterprise borrow: manufacturing expenses (production personnel)

management expenses (management personnel)

expense of goods sold (sales personnel)

credit: other payables-pension/medical etc.

Other payables Housing Provident Fund (HPF)

3. When paying wages, borrow: Employee's Compensation Payable - Wages (wages payable)

Loan: Cash on Hand / Bank Deposit (wages paid)

Other Payables - Pension / Medical etc. (Withholding Amount)

Other Payables - Pension / Medical etc. (Withholding Amount)

Other Payables - Housing Provident Fund (Withholding amount)

Taxes Payable - Personal Income Tax Payable (Withholding amount)

4. Actual Payment Debit: Other Payables - Pension / Medical etc.

Other Payables

Taxes payable - personal income tax payable

Expanded:

Accounting entry format:

First: it should be a debit followed by a credit, debit and credit branches, with the debit side at the top and the credit side at the bottom;

Second: the credit side of the ledger symbols, accounts, and amounts are all to be one space back from the debit, indicating that the debit is on the left and the credit is on the right.

The types of accounting entries include simple and composite entries, of which the simple entry is a debit and a credit entry; composite entries are a debit and a credit entry, a debit and a credit, and a debit and a credit entry.

It should be noted that, in order to maintain a clear relationship between the accounts, it is generally not appropriate to combine different economic operations, the preparation of multiple debit and credit accounting entries. However, in some special cases in order to reflect the full picture of economic operations, you can also prepare multiple debit and credit accounting entries.

Accounting entries in practice, by filling out the vouchers to realize, it is to ensure that the accounting records are correct and reliable important link.

Accounting, no matter what kind of economic business, need to register accounts before, in accordance with the rules of bookkeeping, through the filling of vouchers to determine the accounting entries of economic business, in order to correctly account for the record and check afterwards. There are two kinds of accounting entries: simple and compound.

Reference:

Accounting Entries Baidu Encyclopedia