Borrow: inventory goods-gifts
Taxes payable-VAT payable (input tax)
Loans: bank deposits, etc.
The accounting entries for the provision of gifts for the Spring Festival by enterprises are as follows:
Borrow: management expenses/production costs/sales expenses, etc.
Loans: Payable Wages-Non-monetary Benefits
The accounting entries for the actual distribution of Spring Festival gifts to employees are as follows:
Debit: Payables-Non-monetary benefits
Borrow: inventory goods-gifts
Taxes payable-VAT payable (transfer-out input tax)
Measures to measure non-monetary interests
According to the requirements of the Accounting Standards for Business Enterprises, if an enterprise provides outsourced goods to employees as non-monetary benefits, it shall measure the amount of employee compensation that should be included in the cost according to the fair value of the goods and related taxes and fees. If an enterprise provides products to employees as non-monetary benefits, it shall measure the amount of employees' salary that should be included in the asset cost or current expenses according to the fair value of the products and related taxes and fees, and confirm it as the income from selling goods.
What are the contents of non-monetary welfare?
Non-monetary welfare refers to the salary paid to employees by enterprises with non-monetary assets such as self-produced products or purchased goods, including providing assets owned by enterprises to employees free of charge, distributing self-produced products as welfare to employees, and providing medical and health care services to employees free of charge.
What are the goods in stock?
Inventory goods refer to products that can be sold as commodities, as well as all kinds of goods that have been purchased or entrusted for acceptance and put into storage for sale; At the same time, it also refers to the products that the enterprise has completed the whole production process, accepted and put into storage, met the standard specifications and technical conditions, and can be sent to the ordering unit according to the conditions stipulated in the contract. Enterprises should set up the subject of "inventory goods" to account for the increase and decrease of inventory goods and their balances. When an enterprise sells its inventory goods to the outside world, it should make corresponding accounting treatment according to different sales methods.