Inventory of goods used for employee benefits accounting entry how to do? How to carry out the account processing?
When the company will be self-produced goods for employee welfare or personal consumption, it should be regarded as the sale of goods for the relevant accounting treatment. Revenue is recognized and VAT is paid.
Borrow: Employee remuneration payable
Loan: Revenue from main business
Loan: Tax payable - VAT payable (output tax)
Borrow: Administrative expenses - Welfare expenses
Loan: Employee remuneration payable
Carrying forward the cost of main business
Loan: Cost of main business
Loan: Cost of main business
Loan: Inventory goods
Knowledge Extension: Employee Welfare Expense Meaning and Content Introduction
Employee Welfare Expense Meaning: Employee Welfare Expense is also the cash subsidies and non-monetary collective benefits issued by the enterprise to its employees. In addition to employee wages, bonuses, employee education expenses, supplementary medical insurance premiums, social insurance premiums and supplementary pension insurance premiums, housing fund, and subsidies included in the total wage management of the welfare expenditure.
Employee welfare expenses include:
1. Cash subsidies and non-monetary benefits, such as medical expenses for overseas medical treatment for employees on duty, medical subsidies for employees' dependent immediate family members, subsidies for self-run employee canteens, subsidies for heating expenses and heat stroke prevention (in line with the relevant national financial regulations), etc., issued by the enterprise for its employees.
2. Depreciation and maintenance costs of equipment and facilities of the collective welfare department issued by the enterprise (involving staff canteens, medical clinics, childcare centers, staff bathrooms, collective dormitories, etc.) and labor costs (involving staff wages and salaries, housing provident funds and social insurance premiums, etc.)
3. Expenditures related to employee hardship grants and funds established and managed by the enterprise in a coordinated manner. (Specifically for the help and relief of workers in difficulty)
4. Other employee welfare expenses such as one-child fee, family leave travel expenses, funeral subsidies, and pension payments issued by the enterprise.
5. Transportation, housing and communication subsidies issued by the enterprise for employees.