How to prepare accounting entries when receiving maternity benefits from the Social Security Administration?

Maternity allowance is a living expense given to working women during the period when they are away from work due to childbirth, how to prepare accounting entries when you receive the maternity allowance from the Social Security Administration?

Accounting entries for the maternity allowance received from the Social Security Administration

When the company receives it:

Borrow: Bank Deposit

Credit: Other Payables - XX (Maternity Allowance)

When it is given to the employee:

Borrow: Other Payables -XX (Maternity Allowance)

Credit: Cash on hand

How do you understand other payables?

Other accounts payable are accounts payable and receivable incurred by enterprises other than commodity trading business, including rental payable for operating leased fixed assets and packages; wages not received by employees on time; payable and receivable to units and individuals; deposits; and other payables and receivables.

Other accounts payable belongs to the liability accounts, debit registration of repayment or write-off of a variety of accounts payable, credit registration of a variety of accounts payable, provisional receipts, at the end of the month, the balance in the credit reflects the enterprise payable, provisional receipts of the balance of cash. Enterprises have a variety of accounts payable, provisional receipts or return of funds, debit "bank deposits", "administrative expenses" and other accounts, credit "other accounts payable" account; payment of the relevant funds When payments are made, debit "other payables" and credit "bank deposits". If the enterprise adopts the sale and repurchase method to integrate funds, debit the "bank deposit" account and credit the account. The difference between the repurchase price and the original sales price shall be charged as interest expense on a periodic basis during the period of sale and repurchase, and shall be debited to the account of "Finance Expenses" and credited to the account of "Finance Expenses". In accordance with the contract to repurchase the goods, etc., debit this account, credit "bank deposits" account.