Accounting entries of company borrowing from employees
Debit: bank deposit
Credit: Other payables -XX employees
When repaying:
Borrow: other payables-personal loans
Loans: bank deposits
The company pays interest to the borrower:
Borrowing: financial expenses-loan interest
Other payables-withholding tax
When a company borrows money from an employee, if the loan interest is to be deducted before tax, it must meet the following conditions:
1. If the company belongs to the borrower, it must have an interest invoice for pre-tax deduction;
2. Companies and individuals need to sign corresponding loan contracts together;
3. The interest on personal loans of the company must meet the amount calculated by the interest rate of similar loans of financial enterprises in the same period, and must be within the calculation range of the interest rate and can be deducted before tax.
Other accounts payable accounting contents
Accounting for other payables except notes payable, accounts payable, accounts received in advance, employee salaries payable, interest payable, dividend payable, taxes payable and long-term payables. The insurance guarantee fund payable by the enterprise (insurance) is also accounted for in other payables.
In order to correctly reflect and supervise the emergence and disappearance of various other payables of enterprises, the company should set up "other payables" subjects. The credit of this course is used to reflect the generation of various other payables of the enterprise; Debit is used to reflect various other payables paid; The ending balance is generally in the credit, indicating other payables that have not been paid by the enterprise at the end of the period. Other accounts payable should also be set up according to specific projects for detailed classification accounting.