How should the company handle the accounts of installing water meters?

Some properties need to buy and install their own water meters whether they are installed or not, so how to deal with the installation fee of water meters? Learn from the deep space network!

How to make accounts for the installation of water meters purchased by the company?

The installation of water meters in general companies usually belongs to the administrative management category, and the cost of replacing water meters should be included in the management expense account.

When buying a water meter, if the value of the water meter does not reach the accounting standard of fixed assets.

Borrow: low-value consumables

Loans: bank deposits

When collecting water meters for installation

Borrow: management fee

Loans: low-value consumables

If the value of water meter reaches the accounting standard of fixed assets, it should be charged as a one-time expense or amortized in the form of depreciation according to the situation (charged as management expense).

How should the construction company calculate the cost of purchasing the water meter manhole cover?

If the water meter and manhole cover are purchased during the preparation period, they should be included in the development cost accounting.

Borrow: development cost-support facilities

Loan: Taxes payable-VAT payable (input tax)

Loans: bank deposits/accounts payable

Covers and water meters of self-use facilities purchased during the preparation period are included in the management expense accounting.

Borrow: management fee-maintenance fee

Borrow: Taxes payable-VAT payable (input tax) General taxpayers get special tickets.

Loans: bank deposits/accounts payable