Start debiting, then crediting, how to cancel the account? Reduce the amount of input to be deducted

The debit side is the amount that has been certified as the input tax amount that is not allowed to be deducted temporarily, and the credit side is the amount that is transferred out when the credit is allowed.

Theoretically, when the business is processed, the input invoice should be recorded and certified in the month of entry.

Therefore, the input to be deducted should only occur when the monthly output is insufficient, and there should not be an input tax that is not certified to be deducted.

In this way, the entries at the time of input tax entry should be:

Borrow: raw materials (or direct incoming expenses for administrative expenses).

Debit: Tax Payable - VAT Payable - Input.

Credit: Accounts payable.

At the end of the month, when the debit balance of VAT payable is greater than the credit balance, if the input is greater than the output, it will not be carried forward, and no VAT will be paid, and the deduction will be automatically deferred to the next month.

If the debit is greater than the credit because the VAT is prepaid, that is, the tax paid is greater than the output tax, it should be carried forward to the unpaid VAT account, entry:

Debit: Tax Payable - VAT Not Paid.

Credit: Tax Payable - VAT Payable - Overpaid VAT Transferred Out.

If due to various reasons, when the input tax needs to be deducted and you do not want to be certified, it is recommended not to be recorded in the account for the time being, and it will be recorded in the account in the month of certification.

FYI.

"Tax Payable" is the liability account, the credit side is the increase in liabilities (increase in tax payable), and the debit side is the decrease in responsibility (decrease in tax payable).

Then you understand the nature of VAT, which is the tax paid on the value-added part of the goods. VAT payable = output - input.

I guess you still can't understand, you can ask, ask more carefully, and I'm so targeted.

According to your description, the input VAT can be deducted refers to the VAT paid or borne by the parties for the purchase of goods, services, services, intangible assets, and immovable property, and the VAT amount indicated on the special VAT invoice obtained from the seller, and the VAT amount indicated on the special payment letter for customs import VAT obtained from the customs are allowed to be deducted from the output VAT. Legal basis: Article 8 of the Provisional Regulations of the People's Republic of China on Value-Added Tax stipulates that the amount of value-added tax paid or borne by taxpayers for the purchase of goods, services, services, intangible assets and immovable property shall be the input tax. The following input VAT is allowed to be deducted from output VAT:

1) The VAT amount indicated on the special VAT invoice obtained from the seller. (2) The amount of VAT indicated on the special payment certificate for import VAT obtained from the Customs. (3) For the purchase of agricultural products, in addition to obtaining special VAT invoices or special payment certificates for customs import VAT, the input VAT calculated according to the purchase price of agricultural products indicated on the purchase invoice or sales invoice of agricultural products and the deduction rate of 11% shall be calculated unless otherwise specified.

Formula for calculating input tax: input tax = purchase price Deduction rate (4) The amount of VAT indicated on the tax payment voucher for withholding and remitting tax obtained from the tax authority or withholding agent for the purchase of services, services, intangible assets or domestic immovable property from overseas entities or individuals.

The "input tax to be deducted" is a detailed account to account for the input tax deducted from the output tax in the following period after the general taxpayer has obtained the VAT deduction voucher and has been certified by the tax authority, in accordance with the provisions of the current VAT system. If the input tax to be deducted meets the requirements, it can be deducted. From "input tax to be deducted" to "input tax", the input tax can actually be deducted in the current period.

Debit: Tax Payable - VAT Payable - Input Tax, Credit: Tax Payable - Input Tax to be Deducted.

Summary. 1. In addition to the VAT payable - there is a credit balance for the unpaid VAT, which is paid in the second year; 2. Keep the bottom line, and transfer the output tax, transfer out of unpaid VAT, and transfer out of input tax to input tax.

1. In addition to the value-added tax payable - there is a credit balance for the unpaid value-added tax, which will be paid in the second year; 2. Leave the letter to Qingdi, and transfer the output Tanhui tax, the unpaid value-added tax transferred out, and the input tax transferred out to the input tax.

The input tax to be deducted is a detailed account of the "input tax to be deducted" added by the general taxpayer under the "tax payable" account during the counseling period, which is used to calculate the input tax indicated or calculated by the general taxpayer during the counseling period when the deduction copy of the certified special invoice, the special payment certificate for customs import VAT and the settlement document for transportation costs (hereinafter referred to as the VAT deduction voucher) that have not been cross-checked and compared. After the taxpayer obtains the VAT deduction voucher during the counseling period, the detailed account of "tax payable - input tax to be deducted" shall be debited, and the relevant account shall be credited to the slag. After the cross-audit and comparison are correct, the "Tax Payable - VAT Payable (Input Tax)" account is debited and the "Tax Payable - Input Tax to be Deducted" account is credited.

For the input tax that cannot be deducted after verification, the red letter is debited to "tax payable - input tax to be deducted", and the relevant account is credited in red letter. There is a balance at the end of the year to be deducted, and if it is still in the counseling period, it is equivalent to a credit.