Accounting entries of prepaid social security fees

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Doing accounts is very simple, you just need to remember to use the subject of social security payable to employees.

Prepayment means to pay first, then deduct money or allocate it to the cost, and supplementary payment means that the payment part has not been accrued and needs to be supplemented.

If the late payment fee is borne by the individual, it will be deducted directly from the individual's salary. If it is borne by the enterprise, the practice is consistent with the enterprise's social security.

The accounting entries are as follows:

1. Extraction or allocation of the company's burden (first payment is called allocation, then payment is called extraction).

Debit: cost and expense account

Loan: Payable staff salary-social security (company's burden)

Two, the salary accrued according to the wages payable accounting, no entries. Payable salary minus all deductions is actual salary, and all deductions are not listed, only social security deductions are listed.

Debit: Payables-Wages

Loan: Payable staff salary-social security (personal burden)

Three. Payment of social security fund

Debit: Payable Employee Wages-Social Security (Company Burden+Personal Burden)

Loans: bank deposits