Low value consumables should be accounted for as low value consumables according to relevant regulations, First included in the low value consumables account → 90% amortized according to the 91 amortization method is included in the cost of relevant items → the other 10% is written off when the low value consumables are scrapped and transferred to the relevant cost.
When purchasing temporary facilities: Debit: temporary facilities – specific temporary facilities credit: bank deposits (or accounts payable) into the cost of the project department: Debit: contract performance cost – Project Department – temporary facilities amortization credit: temporary facilities amortization 8.
For temporary facilities that should be accounted as temporary facilities according to relevant regulations, they shall be included in the temporary facilities account first → 60% of the total price of the project using the temporary facilities for the first time shall be included in the project cost → 40% of the total price and the cost incurred for dismantling and rebuilding the temporary facilities for the second time shall be included in the project cost.
Before the end of the month, Cost accounting shall include the items listed in the cost documents that should be included in each project department in the current month into the relevant project costs → general ledger accounting shall carry forward the cost corresponding to the income of the current month to the main business cost account according to the completion progress of the project department..
Basic process: voucher preparation → voucher review → bookkeeping → reconciliation → other system settlement → general ledger system settlement 2 When paying social insurance premiums and transferring out social insurance expenses, debit: administrative expenses – employee insurance (Part paid by the company) debit: other receivables – employee insurance (Part paid by the individual) debit: internal transactions – XX Branch (in full amount) Credit: bank deposit when paying wages, debit: payable wages (in the amount not deducted from social insurance premiums) Credit: other receivables – employee insurance (Part paid by the individual) Credit: bank deposit or cash (in the difference) When the revenue is recognized and the project payment invoice is issued, Company accounting treatment debit: accounts receivable – construction unit debit: advance receipt (if there is advance receipt before) Credit: contract settlement – price settlement (for each project) taxes payable – value added tax payable (tax rate of 9% of output) debit: contract settlement – income carry forward credit: borrowing when main business income purchases engineering materials: engineering materials debit: taxes payable – value added tax payable (input tax) Credit: when paying taxes on bank deposits, debit: taxes payable – various taxes (output minus input) Credit: bank deposits 4.
Namely: Debit: management expense – salary (or welfare expense); debit: contract performance cost – project personnel’s salary, point work salary, welfare expense credit: payable employee salary – management personnel, point work salary credit: payable employee salary – welfare expense; 10.
Accrual of turnover tax shall be based on the output value confirmation sheet submitted by the business department at the end of each month and according to the ratio of various taxes payable, Calculate the taxes (gold) and other payables (accounts under the enterprise accounting system) by item, i.e.: Debit: taxes and surcharges (each project department) Credit: taxes (each tax category) Credit: other payables (each fee category) (accounts under the enterprise accounting system) 11.
In August, Zhengzhou “construction industry tax inspection response and rights protection under the Golden Tax phase IV system” in August, Shenzhen “accurate control of tax risk of construction enterprises under the promotion of Golden Tax phase IV and all electric invoices” in general process and accounting entries 1.
Borrowing at the time of purchase: low value consumables – specific name credit: bank deposit (or accounts payable) borrowing at the time of collection: contract performance cost – Project Department – office supplies and other subjects borrowing: administrative expenses – amortization of low value consumables credit: low value consumables – specific name if any person loses or damages the specific name, relevant personnel shall be held responsible, 10% of the balance of the low value consumables: loss of property to be disposed of – loss of current assets to be disposed of credit: low value consumables – specific name after study and determination of the treatment method debit: cash (or other receivables – relevant responsible person) debit: non operating expenses (balance greater than the compensation) Credit: low value consumables – specific name credit: non operating income (balance greater than the compensation) when natural scrapping, Debit 10% of the balance: contract performance cost (or management expense) Credit: low value consumables – specific name 6.
Accrued wages and welfare expenses: according to the attendance records reported by the human resources department and each project department at the end of each month, the total attendance days of management personnel and point workers in the current month shall be calculated by each department → the amount of wages and welfare expenses that should be included in the costs and expenses in the current month shall be calculated by each department according to the specified daily wage rate → relevant accounting vouchers shall be prepared.
Fixed assets receive purchase documents → daily processing → asset addition → fixed assets card → generate vouchers in the fixed assets system → accrue depreciation at the end of the month → check with the general ledger system → settle accounts in the fixed assets system.
Namely: Debit: contract performance costs (or administrative expenses) Credit: intangible assets 9.
7.
Inventory materials: when the project department purchases main materials (reinforcement, steel and cement), it will be included in the inventory material account → the project department will conduct physical inventory at the end of the month, prepare monthly material receipt / delivery report and send it to the finance department → the cost accountant will calculate the actual usage and amount of main materials of each project department according to the month end balance, As the cost of the current month.
When fixed assets are added, debit: fixed assets – Loans of all departments: when bank deposits (or accounts payable) are depreciated, debit: management expenses – depreciation expenses (for management departments) debit: contract performance costs – Project Department (for production and project department management) Credit: accumulated depreciation 5.
Provision for amortization of intangible assets according to self-made calculation table, the intangible assets on the book are amortized on average within the specified service life.
