Which account is the mask during the epidemic?
A: During the epidemic, the company purchased masks issued to employees to use, should be included in the labor protection expenses, allowing the enterprise income tax deduction.
Accounting entries for the purchase of masks during the epidemic
Borrow: administrative expenses, etc. - labor protection expenses
Taxes payable - VAT payable - - item tax
Credit: bank deposits
Example of mask accounting during the epidemic
1. Company A purchased 10,000 yuan of masks, uniformly distributed to the use of employees. Its VAT invoice is 10,000 and the VAT amount is 1,300. how should the company's finance officer do the accounting?
Borrow: administrative expenses - labor insurance fees 10000
Taxes payable - VAT payable - input tax 1300
Credit: bank deposits 11300
2. During the epidemic, Company A issued a monthly subsidy of 200 yuan to employees for the purchase of masks, and required employees to wear them at work. May I ask how to do the relevant accounting?
A: A company to employees issued cash subsidies for masks, should be included in employee welfare expenses. Specific accounting treatment is as follows:
Borrow: administrative expenses, etc. - employee welfare expenses
Credit: payable compensation - welfare expenses
3. To support the prevention and control of the epidemic, the C company purchased a number of N95 masks Donated to the relevant hospitals in Wuhan through public welfare social organizations, how to do the relevant accounting treatment?
Borrow: Inventory goods and other subjects
Taxes payable - VAT payable (input tax)
Credit: Bank deposits
Borrow: Non-operating Expenses Donation - Gift Expenses
Credit: Inventory goods and other subjects
Taxes payable - VAT payable (output tax)
4. During the epidemic, Company B, due to the lack of a way to buy medical masks and other supplies, directly to the relevant organizations and hospitals in Hubei cash donations. Please ask how to do the relevant accounting?
Borrow: Non-operating Expenses - Donation Expenses
Credit: Bank Deposits
Can the company buy masks for pre-tax deduction? What if I don't have an invoice?
Misconceptions about the tax treatment of masks during the epidemic
Misconceptions 1: In order to do a good job of epidemic prevention and control, the company uniformly purchased masks issued to employees to use, and require employees to wear at work. The cost of masks here belongs to the category of "employee compensation payable - welfare expenses".
Analysis: the cost of masks during the epidemic does not belong to the "payable salaries - welfare expenses" category, the above understanding is wrong. It should be a reasonable labor protection expenditure actually incurred by the enterprise, and allowed to be deducted before the enterprise income tax. VAT deduction is also allowed if the special VAT invoice is obtained.
Misconception 2: During the epidemic, the company purchased a number of masks, donated to the disaster area through the social welfare organizations, the purchase of masks obtained ordinary invoices, there is no deduction of value-added tax. Therefore, it is not necessary to treat the donation as a sale and pay VAT.
Analysis: The above understanding is wrong, according to the relevant provisions of the purchase of masks for public welfare donations during the epidemic, should be treated as sales to pay VAT.
Misconception 3: During the epidemic, the company resumed work to each employee issued mask subsidies to allow employees to buy and wear to work. The mask subsidy here is exempt from personal income tax.
Analysis: According to the "People's Republic of China *** and the implementation of the State Individual Income Tax Law Regulations" can be obtained, during the epidemic to the employees issued masks subsidies should be incorporated into the current wages and salaries to pay personal income tax. The above understanding is wrong.
Misconception 4: During the epidemic, a batch of masks produced by the enterprise was scrapped due to problems, and the property staff directly recognized this loss as a loss and deducted it in the current year before the enterprise income tax, without the need for any information to be kept in reserve for inspection.
Analysis: In accordance with the relevant provisions of the relevant provisions of the enterprise income tax remittance need to fill in the "pre-tax deduction of asset losses and tax adjustment schedule", the relevant information by the enterprise to be kept in reserve for inspection.