Some companies regularly hold annual meetings at the end of each year, and basically all employees need to attend. So how should the expenses incurred for holding the annual meeting be accounted for?

Accounting entries for annual meeting expenses

1. Venue rental fee:

For venue rental, generally let the other party issue an invoice for the conference fee and record it as the conference fee Just the subject.

2. Meal expenses:

Meal expenses incurred at the annual meeting can be recorded in the account by requesting the conference fee invoice just like the venue rental fee. However, if there is no relevant invoice, the relevant welfare fees will be recorded.

The relevant openings and entries are as follows:

Debit: administrative expenses - welfare fees

Credit: cash on hand/bank deposits

Welfare expenses are generally listed as expenses, but in some tax bureau tax issues, the expenses for annual dinner parties are not considered welfare expenses by tax, so they cannot be listed as pre-tax expenses, so they are listed as entertainment expenses.

Debit: administrative expenses - business entertainment expenses

Credit: cash on hand/bank deposits

What are business entertainment expenses?

Business entertainment expenses refer to entertainment expenses paid by enterprises for the reasonable needs of production and operation of business. It is a real and necessary expense incurred in the production and operation of an enterprise, and is a necessary cost for the enterprise to carry out normal operating activities.

The scope of business entertainment expenses:

1. Expenses on banquets or working meals due to the needs of the company's production and operation

2. Souvenirs given due to the needs of the company's production and operation Expenses

3. Expenses for visiting tourist attractions, transportation fees and other expenses incurred due to the needs of the enterprise's production and operation

4. Business relationships incurred due to the needs of the enterprise's production and operation Personnel travel expenses.

What are overhead costs?

Refers to the various expenses incurred by the enterprise's administrative department to organize and manage production and business activities. Including: company funds, labor union funds, board of directors fees, consulting fees, litigation fees, business entertainment expenses, office expenses, travel expenses, postal and telecommunications expenses, Greening fees, management staff salaries and welfare fees, etc.