According to the provisions of the Accounting System for Business Enterprises, the income from the sale of waste products belongs to other sales income or other business income other than the main business income, so it needs to be accounted for in the subject of "other business income".

Accounting entries:

Debit: cash (bank deposit).

Loan: other business income.

Taxes payable-VAT payable (input tax).

Note that ordinary VAT invoices should be issued and VAT paid for the sale of waste products.

Extended data:

An enterprise is an enterprise that sells waste materials and waste products. It issues special VAT invoices or ordinary invoices to buyers, regardless of which invoices are regarded as sales and output taxes. For example, if an enterprise sells a batch of waste materials, the total price and tax of the ordinary invoice is 58 500 yuan, which is collected through the bank:

Borrow: Bank 58500.

Loan: Other business income is 50,000 yuan.

Taxes payable-VAT payable (output tax) 8500

If the waste belongs to product waste, it can be treated as other business income. Of course, because there are few waste products, it is impossible to issue sales invoices when selling to waste recyclers, while some sales invoices can be issued regularly, but they must be taxed.

Ordinary invoices can be issued and the payer can be someone. Invoicing for the current month needs to be completed in the tax filing system. If the waste is not waste, but other things, such as construction fixed assets and surplus scrap steel or similar things, it can be regarded as non-operating income and part of the business tax can be paid.

Baidu Encyclopedia-Enterprise Accounting System