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How to accrue social security and gross wages

Accounting for wages:

Borrow:Administrative expenses - wages (gross salary)

Loan:Compensation payable - wages

Accounting for social security:

Borrow:Administrative expenses --Social Security (Company's portion)

Credit: Employee Compensation Payable--Social Security

Payment of Salary:

Borrow: Employee Compensation Payable--Salary (Total) -Salary (total)

Credit: Taxes Payable - Personal Income Tax

Other Payables - Social Security (Personal Portion)

Bank Deposit (Actual Salary)

Social Security Payment

Borrow: Employee Compensation Payable - Social Security

Other Payables - Social Security (Individual Portion)

Credit: Bank Deposit

Personal Tax Payment

Borrow: Tax Payable - Individual Income Tax

Credit: Bank Deposit

Note: CPF is usually deducted in the same month and no accrual is required.

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