What accounting subjects does the property company involve?

For the accountants of property companies, when dealing with accounting problems, we must firmly grasp the accounting subjects involved in various businesses. So what subjects are generally involved in the accounting of property companies?

Accounting subjects involved in property companies

Accounting subjects commonly used by property companies:

Like asset subjects, cash on hand, bank deposits and accounts receivable are often used.

The most common liabilities are salaries payable to employees, accounts payable, short-term loans, long-term loans, other payables, accounts received in advance, taxes payable, etc.

Owners' equity includes paid-in capital, capital reserve, current year's profit, profit distribution, surplus reserve, etc.

Profit and loss subjects include main business income, non-operating income, main business cost, taxes and surcharges, sales expenses, management expenses, financial expenses, non-operating expenses, income tax, profit and loss adjustment of previous years, etc.

Accounting entries commonly used by property companies

1, existing

Debit: bank deposit (detailed account is bank name)

Credit: Cash on hand

Step 2 withdraw cash

Debit: Cash on hand.

Loans: bank deposits

3. Including tax and surcharge

Borrow: taxes and surcharges

Loan: taxes payable-urban maintenance and construction tax payable.

Taxes payable-education surcharge payable

4. Collect water and electricity charges

Debit: bank deposit

Credit: other payables

5. Pay the employee's phone bill last month.

Debit: other receivables-employees-telephone charges

Loans: bank deposits