How to make accounting entries for special maintenance funds?

In daily life, for first-time buyers, in addition to paying the corresponding house payment, they also need to pay a certain proportion of special maintenance funds for the maintenance of public facilities. The following are the contents of accounting entries for special maintenance funds. Let's get to know them.

Accounting entries of special maintenance funds

Maintenance fund should be included in management cost accounting;

Borrow: management fee

Loans: bank deposits

Accounting entries of commercial housing delivery maintenance fund

1, collect the Buyer's maintenance fund:

Debit: bank deposit

Loan: other payables-house maintenance fund

2. Pay maintenance fund when maintenance occurs:

Borrow: other payables-house maintenance fund

Loans: bank deposits

What is the special maintenance fund?

Special maintenance funds refer to the funds that the owners of residential properties pay a certain amount of funds to a special account for the maintenance of public parts and facilities and equipment in the property area, and authorize the owners' committee to manage and use them in a unified way.

Special maintenance funds are raised by the property owners. For the owners, they enjoy the ownership of the maintenance fund in proportion, but the right to use belongs to all owners. Individual owners may not withdraw all their own maintenance funds from the bank.