When short-term loan interest is accrued this month, accounting personnel generally conduct accounting through financial expenses, short-term loans and other subjects. How to make specific accounting entries?

Accounting entries for short-term loan interest this month

1. When short-term loan interest is accrued this month, the specific accounting entries are as follows:

Debit: financial expenses

Loan: interest payable

2. When repaying short-term loan interest, the specific accounting entries are as follows:

Borrow: interest payable (return accumulated interest)

Loans: bank deposits

or

Debit: financial expenses (interest is paid directly without withholding)

Loan: bank deposit/cash on hand.

3. When returning the short-term loan principal, the specific accounting entries are as follows:

Borrow: short-term loans

Loans: bank deposits

What is the short-term loan subject?

Short-term loans refer to all kinds of money borrowed by enterprises from banks or other financial institutions with a term of 1 year (including 1 year). Short-term loans are generally borrowed by enterprises to meet the needs of normal production and operation or offset a debt. Short-term loan interest can be paid directly without withholding; You can also pay in advance.

It should be noted that the "short-term loan" accounting subjects only calculate the short-term loan principal, not the short-term loan interest.

What does the financial expenses include?

Financial expenses refer to the expenses incurred by enterprises to raise funds needed for production and operation. Specifically including:

1. Interest expense refers to the net amount of short-term loan interest, long-term loan interest, bill payable interest, bill discount interest, bond payable interest, long-term interest payable and other interest expenses (except capitalized interest) of imported equipment minus bank deposit interest income.

2. Exchange loss refers to the difference between the bank purchase price and the exchange rate used for bookkeeping due to the settlement and purchase of foreign exchange from the bank, and the difference between the foreign currency ending balance converted into RMB and the original RMB at the end of each month (quarter and year).

3. Relevant fees refer to fees paid for issuing bonds (excluding capitalized fees), bank fees for withdrawing bills, and fees for adjusting foreign exchange. , but does not include the handling fee paid for issuing shares.

4. Other financial expenses, such as financing lease expenses incurred in financing fixed assets.