How to make accounting entries when a company receives an individual business refueling invoice
Many companies need to issue invoices to reimburse employees for refueling expenses on the bus. When companies keep accounts, they generally include refueling expenses into management expenses or sales expenses. What should companies do when they receive accounting entries of individual business refueling invoices?
Accounting entry of unit receiving individual business refueling invoice
Debit: administrative expenses/sales expenses
Credit: cash on hand/bank deposit
What are administrative expenses?
Administrative expenses refer to various expenses incurred by the administrative department of an enterprise for organizing and managing production and operation activities. The specific items included company funds, labor union funds, unemployment insurance premiums, labor insurance premiums, board fees, fees for hiring intermediaries, consulting fees, legal fees, business entertainment fees, office expenses, travel expenses, postal and telecommunications expenses, greening expenses Salary and welfare of management personnel.
The management expenses belong to the period expenses, which are included in the current losses or profits in the current period. The enterprise should account for the occurrence and carry forward of the management expenses through the "management expenses" account. The debit of this account registers various administrative expenses incurred by the enterprise, and the credit registers the administrative expenses transferred into the "profit of the current year" account at the end of the period. After carrying forward, there should be no balance in this account, and this account should be accounted in detail according to the expense items of administrative expenses.
What is the selling expense?
Selling expenses refer to the expenses related to the activities of selling goods, but do not include the costs of selling goods and labor costs, which belong to the main business costs. Enterprises should account for the occurrence and carry forward of sales expenses through the "sales expenses" account. In this account, the debit registers various sales expenses incurred by the enterprise. At the end of the credit registration period, the sales expenses transferred into the "profit of the current year" account should have no balance after carrying forward. The "sales expense" account should be accounted in detail according to the expense items of the sales expense.