Accounting entries of social insurance premiums under the new accounting standards

Social security expenses belong to the expenses paid for employees. When paid to employees, secondary subjects should be set in the salary payable to employees.

The specific items are as follows:

First, provide wages.

Debit: Cost Account

Loans: Payables-Wages

Second, deduct the social security of employees' personal burden from wages.

Debit: Payables-Wages

Loans: Payables-Social Security

Third, the company's social security burden is accrued.

Debit: Cost Account

Loans: Payables-Social Security

Fourth, pay social security.

Debit: Payable employees-social security (sum of transferred personal burden and accrued company burden)

Loans: bank deposits