How to write service fee accounting entries
Service fee refers to the remuneration obtained by individuals for independently engaging in various non employment services. It is obviously different from the income from wages and salaries. What are the relevant accounting entries?
How to write the accounting entry of service fee?
1. Income from service fees received
Debit: cash on hand (or bank deposit)
Credit: other business income (or main business income)
2. Labor expenses incurred
Debit: other business costs (or main business costs)
Credit: bank deposit
What is the difference between labor remuneration and wages and salaries?
According to Article 19 of the Notice of the State Administration of Taxation on Printing and Distributing the Provisions on Several Issues Concerning the Collection of Individual Income Tax (Guo Shui Fa [1994] No. 89), the income from wages and salaries belongs to non independent personal labor activities, that is, the remuneration obtained from serving and employing in organs, groups, schools, troops, enterprises and institutions and other organizations; The income from labor remuneration is the remuneration obtained by individuals for independently engaging in various skills and providing various services. The main difference between the two is that there is a relationship between employment and being employed in wages and salaries, while the latter does not.
What is the other business income?
Other business income belongs to the profit and loss account. The increase is in the credit and the decrease is in the debit. Other business income refers to the inflow of economic benefits generated in the daily activities of selling goods, providing labor services and transferring the right to use assets other than the main business income of the enterprise. Such as sales of materials, materials and packaging, transfer of intangible assets, lease of fixed assets, lease of packaging, transportation, and sales of waste materials.