current liabilities

Current liabilities, also known as short-term liabilities, refer to debts that will be repaid in 1 year (including 1 year) or in a business cycle exceeding 1 year, including short-term loans, notes payable, accounts payable, accounts receivable in advance, wages payable, welfare expenses payable, dividend payable, taxes payable, other temporary payments, accrued expenses and one year.

Its typical composition includes: short-term bank loans, such as bank overdrafts, commercial promissory notes payable, notes payable, accounts payable, fees payable, part of long-term loans due within one year, and money paid to creditors, which can be divided into two categories from the perspective of funds.

One kind of non-spontaneous financing, such as notes payable, accounts payable, expenses payable, etc., is a natural payment obligation of enterprises in their operations. In most cases, enterprises do not need to pay extra interest for this kind of financing, among which notes payable and accounts payable are financing from suppliers, while expenses payable are wages payable and rent payable.

Accounting of other payables

Other payables refer to all kinds of payables except taxes payable. Enterprises should set up "other payables", accounting for the additional education fees, mineral resources compensation fees and housing accumulation funds that should be paid.

According to the payable education surcharge, mineral resources compensation fee and housing accumulation fund, debit the subjects of "main business tax and surcharge", "other business expenses" and "management expenses" and credit the subjects of "other payables-payable education surcharge, payable mineral resources compensation fee and payable housing accumulation fund". When paying, debit "other payables-education surcharge payable, mineral resources compensation payable and housing accumulation fund payable" and credit "bank deposit".

Accounts payable-others

Other payables refer to the payables and temporary receipts of other units or individuals that are not directly related to the main business of the enterprise, such as the rent payable for renting fixed assets and packaging materials, the deposits received, the overall pension payable, and the wages that employees fail to receive on time.