Accounting personnel should also know how to make relevant entries in the provision of additional education fees. If you don't know this part, come and learn from Deep Space Network.

How to deal with the provision of education surcharge?

Under the new accounting system, the accounting entries of education surcharge and local education surcharge should be accounted for through the subject of "taxes payable".

1. Accrual time

Borrow: main business taxes and surcharges

Loan: tax payable-surcharge for education payable

Loan: taxes payable-local education surcharge payable.

2. When paying taxes

Borrow: taxes payable-education surcharge payable

Borrow: taxes payable-local education surcharge.

Credit: monetary funds and other accounting subjects.

Additional tax is accrued according to the sum of value-added tax and consumption tax, and the proportion of local education fees is 7%, 3%, 2% and 1% respectively, which is the additional tax payable this month. VAT payable can be divided into input tax and output tax. If the input tax is greater than the output tax, the difference should be shelved without making any accounting entries. If the output tax is greater than the input tax, the difference will be turned over to the national tax. The entry is: debit: tax payable-transfer out unpaid VAT loan: tax payable-unpaid VAT, and then according to the paid VAT, business tax and additional entries: debit: business tax and additional loans: tax payable-urban construction tax (education surcharge). When paying taxes, debit: tax payable loan: bank deposit.

Extract additional entries of local education fees

Previously on:

Borrow: main business tax and surcharge-local education surcharge

Loan: other payables-local education surcharge

Now it's:

Borrow: main business tax and surcharge-local education surcharge

Loan: taxes payable-how to deal with the refund of local education fees and additional education taxes?