Entry is the abbreviation of accounting entry, which is a record of each sum in the accounts of both parties according to the principle of double-entry bookkeeping.

Specific input operation:

When the loan is actually received:

Debit: bank deposit

Loans: short-term loans

When accrued interest expense:

Debit: financial expenses

Loan: interest payable

When the loan repays the interest principal:

Borrow: short-term loan-principal and interest payable.

Loans: bank deposits

Short-term loans mainly refer to short-term funds borrowed from borrowing banks or other financial institutions for one year or less, and their accounting standards mainly include the following three aspects:

1. Accounting for obtaining loans. Including the signing of the contract indicating the loan amount, interest, repayment time and other details.

2. Accounting treatment of interest generated during the loan period. Calculated at the interest rate stipulated in the contract.

Iii. Accounting for loan repayment at the end of the period. Including principal and interest.

What are the elements of accounting entries?

1, do a good job of bookkeeping; Choose the bookkeeping method according to different account types and record the loan income and expenditure.

2. Name of the account; It records the source and use of funds for each enterprise.

3. Amount; The amount and quantity of each economic transaction must be accurately recorded in order to facilitate the final accounting.