How to write the accounting entry of social security provision?

The accounting entries for paying wages and withholding social security expenses borne by employees from wages are as follows:

Debit: Payable-Payable (Payable)

Loan: Payable wages of employees-social insurance premium (individual)

Cash on hand or bank deposit (issued amount)

The contents of social security accrual entries are as follows:

When withdrawing social security, the entries are: debit: management fee-social insurance premium (unit part); Loan: wages payable to employees-social insurance premium (unit part).

When the enterprise pays the social insurance premium, it shall make the following entries: Payable employee salary-social insurance premium (unit part); Other receivables (payment)-social insurance premium (personal part); Loan: bank deposit/cash.

When paying wages; Debit: payable-salary (payable); Loan: other receivables (funds)-social insurance premium (personal part).

Does social security need to be accrued?

No rules are required. The personal part of social insurance premiums need not be accrued, and can be collected directly. After the enterprise handles social insurance for its employees, it is required to pay social security fees every month. Part of the social security fee belongs to the enterprise, part to the individual, and the part borne by the individual is withheld and remitted by the enterprise.

To sum up, social security accounting entries are accrued and borrowed from: production costs, manufacturing costs, management costs, sales expenses, projects under construction, R&D expenditures, etc. Borrowed from: Payables-Social Insurance.

For the social insurance premiums borne by employees, we borrow: employees' salaries payable-social insurance premiums, and borrow: other payables-social insurance premiums.

Legal basis:

Article 53 of the Accounting System for Business Enterprises in People's Republic of China (PRC) * * * Enterprises shall conduct a comprehensive inspection of accounts receivable at regular intervals or at least at the end of each year, predict the possible bad debts of various accounts receivable, and make provision for bad debts for accounts receivable that cannot be recovered. "The extraction method of bad debt reserve is determined by the enterprise itself". Under the allowance method, the calculation methods of bad debt provision include balance percentage method, aging analysis method and credit sales amount percentage method.