The special-purpose funds set up by a trade union institution in accordance with the regulations are called special funds. Specialized funds include repair and purchase funds, employee welfare funds, housing funds, medical funds and so on.
(1) The source and use of special funds. The acquisition of special funds have special provisions. Such as repair and purchase fund is mainly based on a certain percentage of business income and operating income, in the repair costs and equipment costs (50% each). In addition, the income from the realization of fixed assets and the residual value of the income can also be directly credited to the repair and purchase fund. The Repair and Purchase Fund is mainly used for the repair and purchase of fixed assets and the payment of liquidation expenses. The Employee Welfare Fund is transferred from the Employee Welfare Fund based on a certain percentage of the balance of the fund and in accordance with other regulations. It is mainly used to fund collective welfare facilities and collective welfare benefits for unit employees. Medical fund, that is, not included in the scope of public medical expenditure of the institutions, in accordance with the local financial departments of the public medical expenditure standards set out in the medical funds extracted, and with reference to the relevant provisions of the public medical system for the employee's public medical expenditure funds.
(2) the account of the special fund. When withdrawing the repair and purchase fund, debit the "business expenses - repair costs, equipment purchase costs", "operating expenses - repair costs, equipment purchase costs When withdrawing the fund, debit the "Business Expenditure - Repair Fee, Equipment Purchase Fee", "Operating Expenditure - Repair Fee, Equipment Purchase Fee", and credit the "Professional Fund - Repair Fund"; and when transferring the residual value of fixed assets to be liquidated and scrapped, debit the "Bank Deposit When the residual value of fixed assets is transferred, it is debited to the account of "bank deposit" and credited to the account of "specialized fund---repair and purchase fund". When the employee welfare fund is appropriated from the current year's balance in accordance with the prescribed ratio, it is debited to the account of "Balance Distribution - Employee Welfare Fund" and credited to the account of "Specialized Fund - Employee Welfare Fund". -Employee Welfare Fund". When using the special fund, debit the "Special Fund - Mane Fund" account and credit the "Bank Deposit" account.
Example 1: a business unit this month, business income of 200,000 yuan, operating income of 100,000 yuan, the competent trade unions require each of the 2.5% respectively, to withdraw the cost of repairs and equipment purchase costs. Accounting entries are as follows:
Borrow: business expenses - repair costs 5000.00
Business expenses - equipment purchase costs 5000.00
Operational expenses - -repair costs 2500.00
Operating Expenses - Equipment Acquisition Costs 2500.00
Credit: Specialized Fund - Repair and Purchase Fund 15000.00
Example 2: A utility repairs equipment and pays $500 in bank deposits. The accounting entries are as follows:
Borrow: Specialized Fund - Repair and Purchase Fund 500.00
Credit: Bank Deposit 500.00
Example 3: An institution withdraws 80,000 yuan of employee benefits from the current year's balance. The accounting entries are as follows:
Borrow: balance distribution - employee welfare fund 80000.00
Credit: special fund - employee welfare fund 80000.00
Example 4: A business unit this month, business income of 200,000 yuan, operating income of 100,000 yuan, according to 3% of the medical fund were withdrawn. Accounting entries are as follows:
Borrow: business expenses - social security 6000.00
Operating expenses - social security 3000.00
Credit: Specialized Fund -- Medical Fund 9000.00