Accounting entry of value-added tax
1. At the end of the month, if the input tax amount is greater than the output tax amount, it will be accounted as tax allowance.
2, at the end of the month, the output tax is greater than the input tax accounting treatment.
(1) Calculate VAT payable
Value-added tax payable in this period = output tax minus input tax minus the remaining input tax.
(2) Carry forward
Borrow: Taxes payable-VAT payable (transfer-out unpaid VAT)
Loan: Taxes payable-VAT payable-unpaid taxes.
(3) Salary
Borrow: Taxes payable-VAT payable-Taxes payable.
Loans: bank deposits
When purchasing goods or accepting services, the accounting entries involving value-added tax are as follows:
1, purchase goods
Borrow: goods in transit/raw materials/inventory goods, etc.
Taxes payable-VAT payable (input tax)
Tax payable-input tax to be certified
Loans: accounts payable/notes payable/bank deposits
2. Accounting treatment of non-deductible input tax
When obtaining the special VAT invoice
Borrowing: intangible assets/fixed assets/management expenses, etc.
Tax payable-input tax to be certified
Loans: bank deposits/accounts payable
After being certified by the tax authorities
Borrow: intangible assets/fixed assets/management expenses
Credit: Taxes payable-VAT payable (input tax transferred out)
3, the purchase of real estate, real estate under construction input tax deduction accounting treatment.
(1) At the time of purchase
Borrow: fixed assets or projects under construction.
Taxes payable-VAT payable (input tax)
Taxes payable-deductible input tax
Loans: accounts payable/notes payable/bank deposits
(2) When the input tax has not been deducted at present,
Borrow: Taxes payable-VAT payable (input tax)
Credit: tax payable-input tax to be deducted
4. The goods have been accepted and put into storage, but the corresponding invoice voucher has not been obtained.
Upon acceptance and warehousing.
Loans: raw materials/intangible assets/fixed assets/etc. -Estimated income
Credit: accounts payable
At the beginning of next month, the original estimated amount will be written off in red letters.
Borrowing: raw materials/inventory goods/fixed assets/intangible assets-expected warehousing (in red)
Credit: Accounts payable (amount in red ink)
After obtaining the relevant VAT deduction certificate and passing the certification
Borrow: raw materials/goods in stock/fixed assets/intangible assets
Taxes payable-VAT payable (input tax)
Credit: accounts payable