Should social security contributions be accrued first?

Social security contributions must be accumulated first. Social security is the welfare paid by the company to employees, which needs to be accrued according to legal procedures, so that enterprises can obtain the data of social security expenses from financial statements when paying social security funds in the future. The provision of social security can also help enterprises better control financial risks and ensure the rationality and effectiveness of the use of funds.

Social security, that is, social insurance, is a social and economic system that provides income or compensation for people who have lost their ability to work, are temporarily unemployed or suffer losses due to health reasons. The main items of social insurance include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.