How to make payroll with social security accumulation fund

In the payroll, the social security and housing provident fund undertaken by employees have been reflected in the payroll, and the actual salary of employees is the amount after deducting social security and housing provident fund. Therefore, when entering the account, the employee's contribution should be excluded from the total amount of social security and housing provident fund withheld by the bank every month. The accounting of management expenses is the part undertaken by the company, which conforms to the relevant provisions of the tax law on pre-tax deduction.

In practice, it can be handled in two ways.

First, make the employee's share into other receivables. For example, when the salary is accrued, the part borne by the employee is handled by hanging the account. When the bank withholds social security and housing accumulation fund, the employee's share will be deducted with the same subject.

Payroll accrual: overhead-payroll

Loan: wages payable to employees.

Taxes payable-personal income tax payable

Other receivables-social security

Other receivables-housing accumulation fund

Bank withholding: management fee-social security

Management expenses-housing accumulation fund

Other receivables-social security

Other receivables-housing accumulation fund

Loans: bank deposits

Second, when the salary is accrued, the part borne by the employee is reversed by the management expense account.

Payroll accrual: overhead-payroll

Management expenses-social security (negative)

Management expenses-housing accumulation fund (negative)

Loan: wages payable to employees.

Taxes payable-personal income tax payable