Agency payment transaction refers to the transaction initiated by merchants in the form of batch documents when they carry out agency payment business, and the money is transferred from the company settlement account to the designated bank card account.
Agency payment refers to the business that the payer transfers money to the target account through the agency payment system after providing the relevant bank account information and corresponding funds of the payment target. Simply put, commercial banks use their own settlement facilities to accept the entrustment of customers and handle the receipt and payment of designated funds. Agency payment can realize bank fund transfer transactions from public to public, from public to private, from private to public and from private to private.
Accounting process of third-party payment
1. The enterprise merchant recharges and adds money to the account designated by the third-party payment company;
2. Enterprise merchants submit the information of bank card payment through the operation background;
3. The third-party payment company accepts the business application;
4. The third party has passed the examination and submitted the payment list to the bank for processing;
It is relatively simple to apply for third-party payment. Business merchants only need to contact the business personnel and submit relevant materials (business license+front and back of enterprise ID card+bank account opening permit+purchase and sale contract+company photo+payment agreement), and the business personnel will submit the materials to risk control for review, and the payment business can be started if they meet the requirements. Receive the bank card to the account.
The expenses paid by the enterprise are accounted for by other receivables, and the financial treatment is borrowing other receivables, borrowing bank deposits, etc.
Other accounts receivable accounting enterprises buy resale financial assets, bills receivable, accounts receivable, prepayments, dividends receivable, interest receivable, subrogation receivables, reinsurance receivables, other receivables under reinsurance receivables contracts, accounts receivable other than long-term receivables and temporary payments. Other receivables usually include temporary payments, which refer to all kinds of receivables and temporary payments incurred by enterprises outside the commodity trading business.
The enterprise shall regularly or at least at the end of each year, check other receivables, predict their possible bad debt losses, and make provision for bad debts. For other receivables that cannot be recovered, the enterprise shall find out the reasons and investigate the responsibilities. If it is really irrecoverable, the withdrawn bad debt reserve shall be written off with the approval of the shareholders' meeting or the board of directors, the manager (director) meeting or similar institutions in accordance with the management authority of the enterprise.
Other receivables approved as bad debts shall be debited to the bad debt reserve account and credited to other receivables account.