Employee salary entries, exams and accounting are all required!

Many novice accountants just enter the workplace and ask the old accountants how to prepare the accounting entries for payable employees? A small meeting is here to help you today!

01. How to prepare the accounting entries for payable employee compensation?

The subject of “employee compensation payable” should be based on the items of “salary”, “employee benefits”, “social insurance premiums”, “housing provident fund”, “union funds”, “employee education funds”, “non-monetary benefits” and other payable items Set up detailed accounts and perform detailed accounting.

1. Confirmation of payable employee compensation

1. Monetary employee compensation

(1) The employee compensation of the production department is debited to the subject of “production cost”, “manufacturing cost”, “labor cost” and other subjects, and the subject of “employee compensation payable” is credited;

(2) The employee salaries of the management department personnel are debited to the subject of “Management Expenses” and credited to the subject of “Employee Salaries Payable”;

(3) The employee salaries of sales staff are debited from the subject of “Sales Expenses” and credited to the subject of “Employee Salaries Payable”;

(4) The employee compensation that should be borne by construction in progress and R&D expenditure is debited to the subject of “Construction in Progress” and “R&D Expenditure”, and credited to the subject of “Employee Salary Payable”.

The medical insurance premiums, pension insurance premiums, unemployment insurance premiums, work-related injury insurance premiums, maternity insurance premiums and other social insurance premiums that enterprises should pay to the social insurance agency (or the enterprise annuity fund account manager) should be paid to the housing provident fund management center The state (or enterprise annuity plan) uniformly stipulates the accrual basis and accrual ratio for the housing provident fund deposited and the union funds that should be deposited with the trade union department and should be accrued in accordance with the standards set by the state.

If the actual amount in the current period is greater than the estimated amount, the employee compensation payable shall be supplemented; if the actual amount in the current period is less than the estimated amount, the over-raised employee compensation payable shall be reversed.

2. Non-monetary employee compensation

(1) If an enterprise uses its self-produced product as a non-monetary benefit to employees, it shall be included in the relevant asset cost or current profit and loss based on the beneficiary and the fair value of the product. At the same time, the employee compensation payable shall be confirmed and the “management expense shall be debited” “, “Production Cost”, “Manufacturing Expenses” and other subjects are credited to the subject of “Employee Salaries Payable-Non-Monetary Benefits”.

(2) If assets such as houses owned by the company are provided to employees for free, the depreciation accrued for each period of the house shall be included in the relevant asset cost or current profit and loss according to the beneficiaries, and the employee compensation payable shall be confirmed at the same time, debited ” Subjects such as “management expenses”, “production costs”, and “manufacturing expenses” are credited to the subject of “employee compensation payable-non-monetary benefits”, and the subject of “employee compensation payable-non-monetary benefits” is also debited and credited to “cumulative Depreciation” account.

If assets such as rental housing are used by employees for free, the rent payable in each period shall be included in the relevant asset cost or current profit and loss according to the beneficiary, and the employee compensation payable shall be confirmed, debiting “management expenses”, “production costs”, and “manufacturing”. Subjects such as “expenses” are credited to the subject of “employee compensation payable-non-monetary benefits”.

2. Payment of employee salaries

1. Payment of employee salaries, bonuses, allowances and subsidies

Debit the subject of “employee salary payable-salary”, credit subject of “bank deposit”, “cash in stock” and other subjects; various payments deducted by the enterprise from the employee salary payable (medicine expenses for family members, personal income tax, etc.), Debit the subject of “employee compensation payable”, and credit subjects such as “bank deposits”, “cash in stock”, “other receivables”, “taxes payable-personal income tax payable”.

2. Pay employee benefits

When companies pay employee benefits to employee canteens, employee hospitals, and employees in difficulties, they debit the subject of “employee compensation payable-employee benefits”, and credit subjects such as “bank deposits” and “cash in stock”.

3. Payment of association funds, employee education funds, social insurance premiums, and housing provident fund

Debit the subject of “employee salaries payable-labor union funds (or employee education funds, social insurance premiums, housing provident fund)”, and credit subjects such as “bank deposits” and “cash in stock”.

4. Issue non-monetary benefits

Debit the subject of “employee compensation payable-non-monetary benefits” and credit the subject of “main business income”; enterprises pay for rented housing and other assets for employees to use for free, debit the subject of “employee compensation payable-non-monetary benefits”, and credit Record “bank deposits” and other subjects Spark Global Limited.

 

 

 

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