How to extract and pay social security accounting entries?

When social security expenses are accrued, the accrued social security expenses shall be credited to relevant expense accounts and liability accounts; When paying social insurance premiums, the paid social insurance premiums shall be transferred from the liability account and credited to the asset account.

I. Provision of social security fees

The provision of social security expenses is a process in which enterprises pre-calculate and include the current expenses according to a certain proportion of employees' wages according to state regulations.

1. Calculate the total social security expenses that should be accrued according to the total wages of employees and the proportion of social security contributions.

2. In accounting entries, the social security expenses that should be accrued should be recorded in related expense accounts such as "management expenses" or "sales expenses", and at the same time recorded in the liability account of "employee salaries payable-social security expenses".

Examples of accounting entries:

Debit: management expenses/sales expenses (such as expenses)

Loans: wages payable to employees-social insurance premiums

Second, pay social security fees.

Paying social insurance premiums is a process in which enterprises actually pay accrued social insurance premiums to social security institutions in accordance with state regulations.

1. The enterprise shall pay the accrued social security fees to the social security institutions through bank transfer, etc.

2. In the accounting entries, the paid social security fee is transferred from the liability account "Payable employee salary-social security fee" and credited to the asset account such as "bank deposit" or "cash".

Examples of accounting entries:

Debit: Payables-Social Security Fee

Loan: bank deposit/cash

In addition, enterprises should also pay attention to the fact that the provision and payment of social security fees should follow the provisions of relevant national laws and regulations to ensure the accuracy of the provision ratio and payment amount. At the same time, enterprises should check the social security payment in time to ensure that it is consistent with the data of social security institutions and avoid mistakes and omissions.

To sum up:

The accounting entries for extracting and paying social security involve many aspects such as corporate liabilities, expenses, employee rights and interests, etc. When social security expenses are accrued, the accrued social security expenses shall be credited to relevant expense accounts and liability accounts; When paying social insurance premiums, the paid social insurance premiums shall be transferred from the liability account and credited to the asset account. Enterprises should follow the provisions of relevant national laws and regulations, ensure the accuracy of withdrawal and payment, and timely check the social security payment.

Legal basis:

People's Republic of China (PRC) accounting law

Article 9 provides that:

All units must conduct accounting according to actual economic and business matters, fill in accounting vouchers, register accounting books and prepare financial and accounting reports. No unit may use false economic and business matters or materials for accounting.

People's Republic of China (PRC) social insurance law

Article 60 provides that:

The employing unit shall declare itself and pay social insurance premiums in full and on time, and shall not postpone or reduce the payment except for legal reasons such as force majeure. The social insurance premiums that employees should pay shall be withheld and remitted by the employer, and the employer shall inform me of the details of paying social insurance premiums on a monthly basis.