What are the accounting entries for withholding social security?

Most enterprises will help employees buy social security, and the expenses will be paid by the enterprises. How should accountants write accounting entries for withholding and remitting social security business?

Withholding and remitting social security accounting entries

Deduct social security when paying wages:

Debit: payable to employees.

Loan: bank deposit or cash on hand.

Other payables-withholding social security

When paying social insurance for employees:

Debit: Other payables-withholding and remitting social security

Loan: bank deposit or cash on hand.

Salary payable to employees refers to various forms of remuneration or compensation given by enterprises in order to obtain services provided by employees or terminate labor relations. Employee compensation includes short-term salary, post-employment benefits, dismissal benefits and other long-term employee benefits.

Other payables refer to the payables and temporary receipts incurred by the enterprise outside the commodity trading business, including the fixed assets rent and packaging rent payable under operating lease; Wages that employees fail to receive on time; Deposits received (such as income package deposits, etc.) ) and so on.

Accounting entries of returned social security fees

The returned social security fee shall be accrued before payment, and the corresponding entry of social security shall be payment. Refund:

Debit: bank deposit

Loans: Payables-Social Security

Other receivables (personal burden)

Accrued entries before reversal:

Debit: Payables-Social Security

Loan: management fees and other subjects.

Management expenses refer to the expenses incurred by enterprises for organizing and managing production and operation. Including: the start-up expenses incurred during the preparation of the enterprise, the company funds, trade union funds and directors' membership fees incurred by the board of directors and administrative departments in the operation and management of the enterprise or borne by the enterprise.