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Accounting Of Accounts Payable By Private Companies

2011/5/11 14:57:00 59

The determination of accounts payable time should be based on

Power and responsibility

It depends on the principle of occurrence.

Accounts payable should be recorded on the basis of invoices, but in practice, goods and invoices are not allowed to go together. There is a time lag between them, such as collection and acceptance, which results in poor time for receiving and payment.

Objectively, liabilities have been established, accounting should be reflected in accordance with the provisions.

However, in order to simplify accounting, the accounts are usually not processed at any time, and when the receipt of settlement documents is received, the payment is made again at the end of the month.

If there are still unpaid materials at the end of the month, the items will be refunded according to the valuation receipt and the same entry will be returned after the month, so as to follow the normal procedures next month.

business accounting

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cope with

Accounts receivable

Generally, the amount is payable according to the amount payable, not the current value of the payable amount due.

If the accounts payable for purchase of assets are discounted, there are two ways to determine the amount of accounts payable, the full price bookkeeping method and the net value accounting method.

[case] a certain enterprise purchased a batch of steel and checked it into the warehouse, and the invoice was not paid yet. According to the bill of goods, the recorded price was 30000 yuan and the value added tax was 5100 yuan. The entries were as follows:

1. steel warehousing time

Borrow: material purchase 30000

Tax payable - value added tax (input tax) 5100

Loan: accounts payable 35100

2. when the invoice is paid.

Borrowing: accounts payable 35100

Loan: bank deposit 35100

[case] in June 20th, a company issued a cheque for pfer, a sum of 11700 yuan, payable in May for electricity charges.

When payment is made

Borrowing: accounts payable 10000

Tax payable - value added tax (input tax) 1700

Loan: bank deposit 11700

[case] in May 1st, an enterprise purchased steel from a steel mill for 50000 yuan, and added value tax of 8500 yuan. It has been checked and accepted for storage. The contract stipulates that it will pay within twenty days, the steel plant will give 2% discount, and twenty days after payment will be paid at full price (the enterprise adopts the actual cost accounting).

1. accounting by full price method.

Acceptance of steel during storage

Borrow: raw material 50000

Tax payable - value added tax (input tax) 8500

Loan: accounts payable 58500

When payment is made on 15 days

Borrowing: accounts payable 58500

Loan: bank deposit 57330

Financial cost 1170

If the company pays 25 days' payment

Borrowing: accounts payable 58500

Loan: bank deposit 58500{page_break}

2. accounting by net value method

When the steel is checked and accepted,

Discount = original price * discount ratio

50000 x 2%=1000

Net discount = original price - discount

50000-1000=49000

Borrow: raw material 49000

Tax payable - value added tax (input tax) 8330

Loan: accounts payable 57330

When payment was made on the 12 day of the month

Borrowing: accounts payable 57330

Loan: bank deposit 57330

[case] an enterprise has purchased material for 50000 yuan and has not yet paid the loan. After consulting with the supplier, the enterprise opened a commercial bill of exchange, which was recorded for the following two months according to the previous time of purchase.

Borrowing: accounts payable 50000

Loan: notes payable 50000