How to make an entry for social security accruals

Social security accruals how to do the entries are as follows:

1, social security accruals when the entry for; debit: administrative expenses - social insurance premiums (part of the unit); credit: payable salaries - social insurance premiums (part of the unit).

2. When the enterprise pays the social security expenses, the following entries are made; Debit: Employee Compensation Payable - Social Insurance Premiums (Unit Part); Other Receivables (Payments) - Social Insurance Premiums (Individual Part); Credit: Bank Deposits/Cash.

3. When payroll is issued; debit: employee compensation payable-salary (payable); credit: other receivables (payable)-social insurance premiums (individual portion).

There are five steps in the accounting entry for social security contributions:

1. Distribute wages, which are credited to different accounting accounts according to different types of work; debit: administrative expenses/selling expenses/production costs/manufacturing costs, etc.; credit: compensation payable to employees - wages.

2. Accrual of social security (enterprise part); debit: administrative expenses/selling expenses/production costs/manufacturing costs, etc.; credit: employee compensation payable - social security.

3, the next month when the payroll; debit: payable employee compensation - wages; credit: other payables (social security personal part); payable taxes - payable personal income tax; cash on hand / bank deposits.

4. Turn in DuPao; Debit: Employee Compensation Payable - Social Security; Other Accounts Payable (Social Security Individual Portion); Credit: Cash on Hand/Bank Deposit.

5, to pay personal income tax; debit: tax payable - payable personal income tax; credit: bank deposit.