Accounting entries of value-added tax in real estate industry

1. When a real estate enterprise prepays VAT:

Borrow: Taxes payable-VAT payable (VAT paid)

Loans: bank deposits

2. When the enterprise confirms the income:

Debit: accounts receivable

Loan: income from main business

Taxes payable-VAT payable (output tax)

3. When carrying forward the output tax:

Debit: Taxes payable-VAT payable (output tax)

Loan: Taxes payable-VAT payable (transferred out of unpaid VAT)

Borrow: Taxes payable-VAT payable (transfer-out unpaid VAT)

Loan: Taxes payable-VAT unpaid

Borrow: Taxes payable-VAT unpaid

Loan: Taxes payable-VAT payable (VAT paid)

4. When paying VAT:

Borrow: Taxes payable-VAT unpaid

Loans: bank deposits

The value-added tax paid in advance by the real estate industry is accounted by the subject of "tax payable-paid value-added tax (paid value-added tax)", and then the value-added tax is carried forward by the subject of "tax payable-unpaid value-added tax".