What are the entries for the construction materials used by the enterprise in the construction proce

1) Raw materials for construction in progress (such as the purchase and construction of machinery and equipment production and operation of fixed assets) shall be included in the construction in progress according to the cost in accounting, and the input tax does not need to be transferred out and included in the construction in progress.

The entries are: Borrow: Construction in progress.

Credit: raw materials.

2) The raw materials used for projects under construction (such as the purchase and construction of office buildings and other immovable properties) shall be included in the construction in progress according to the cost, and the input tax shall be transferred out and included in the construction in progress.

The entries are: Borrow: Construction in progress.

Credit: raw materials.

Tax Payable – VAT payable (input tax transferred out).

The entries of the raw materials and products carried forward by the unit in the construction in progress are: carried forward at cost. The process is as follows:

1. Input tax can be deducted for the purchase of engineering materials for construction projects (such as the purchase and construction of machinery and equipment production and operation of fixed assets).

Borrow: Engineering Materials Construction in Progress.

Credit: Bank deposits.

Credit: Tax Payable - VAT Payable (Input Tax) Engineering Materials [excluding tax**]2. Input tax shall not be deducted for the purchase of engineering materials for construction projects (such as the purchase and construction of real estate such as office buildings): Entries are:

Borrow: Engineering materials [tax included] Construction in progress.

Credit: Bank deposits.

Credit: Engineering Materials [Tax Included].

Handling of engineering materials in different situations.

1) For projects under construction (such as the purchase of machinery and equipment, production and operation of fixed assets), the input tax can be deducted

The entries are: borrowed: engineering materials.

Tax Payable – VAT payable (input tax).

Credit: Bank deposits.

Receiving: Borrowing: Construction in progress.

Credit: Engineering materials [excluding tax**].

2) The input tax is not deductible for the purchase of construction materials for projects under construction (such as the purchase and construction of office buildings and other immovable properties).

The entries are: borrow: engineering materials [tax included**].

Credit: Bank deposits.

Receiving: Borrowing: Construction in progress.

Credit: Engineering materials [tax included**].

In order to standardize management and improve economic efficiency, it is necessary to do a good job of pretending to be meticulous when receiving engineering materials. So how should the accounting be handled when receiving the relevant materials? Deep Space Network has sorted out the accounting entries of the materials used in the construction project for you, let's take a look.

Accounting treatment of materials used in construction in progress.

1. Receive self-produced products.

Borrow: Construction in progress.

Credit: Inventory of goods.

2. Receive the raw materials used in production.

Borrow: Endurance in the Department of Construction Engineering.

Credit: raw materials.

3. Receiving foreign purchase materials.

Borrow: Construction in progress.

Credit: Inventory of goods.

1. Purchase engineering materials.

Borrow: engineering materials - special materials and special equipment.

Credit: Bank Deposits, Accounts Payable, Notes Payable.

If the purchase of engineering equipment is required, an advance payment is required.

Borrow: wages and materials - prepayment for engineering equipment.

Credit: Bank deposits.

Receive the equipment and make up payment.

Borrow: engineering materials - engineering equipment.

Credit: Engineering Materials - Prepaid for Engineering Equipment.

Bank deposits. 2. Handling of engineering materials.

When receiving construction materials.

Borrow: Construction in progress.

Credit: Engineering Materials.

Handle the return procedures for the remaining materials taken out.

Borrow: The project is full of information.

Credit: Construction in progress.

The remaining engineering materials after the completion of the project shall be transferred to the inventory of the enterprise.

Borrow: raw materials.

Tax Payable – VAT payable (input tax).

Credit: Engineering Materials.

If the remaining engineering materials are externalized, the input tax on the transferred engineering materials will be given first.

Debit: Tax Payable – VAT Payable (Input Tax) Payable

Credit: Engineering Materials.

The inventory loss, scrapping and damage of engineering materials during the construction period shall be reported for disposal after approval.

Borrow: Construction in progress.

Credit: Engineering Materials.

Earnings from construction materials or disposal.

Borrow: engineering materials.

Credit: Construction in progress.

Engineering materials refer to some building materials, and it is a very common business to receive engineering materials in construction enterprises. So, how to write the accounting entries for the receipt of engineering materials?

The accounting of the engineering department for the use of engineering materials is scattered and highlighted.

Handling of engineering materials in different situations.

1) The purchase of engineering materials for projects under construction (such as the purchase of fixed assets for the production and operation of machinery and equipment) and the materials prepared for the project.

Borrow: engineering materials.

Tax Payable – VAT payable (input tax).

Credit: Bank deposits.

When receiving construction materials.

Borrow: Construction in progress.

Credit: Engineering materials [excluding tax**].

2) The purchase of engineering materials for projects under construction (such as the purchase and construction of office buildings and other real estate) shall be included in the construction in progress according to the cost. When it is ready for use after completion.

The entries are: borrow: engineering materials [tax included**].

Credit: Bank deposits.

Receiving: Borrowing: Construction in progress.

Credit: Engineering materials [tax included**].

Accounting of engineering materials.

This course accounts for the value of various materials prepared by the enterprise for the construction in progress, including engineering materials, equipment that has not yet been installed, and tools prepared for production. It refers to the construction materials used in the construction of fixed assets, enterprises (civil air transportation), etc. Assets that need to be reprocessed at the time of purchase are shown as non-current assets in the balance sheet.

If there is an impairment provision for engineering materials, a detailed account of "impairment provision" should be set up in this account for accounting, or a separate account of "impairment provision for engineering materials" can be set up for accounting for the basis of the blanket and widening.

Engineering materials accounts should be set up with the following detailed accounts:

1. Special materials;

2. Special equipment;

3. Prepay for large-scale equipment;

4. Tools and appliances prepared for production.

The debit balance at the end of this account reflects the value of various materials prepared by the enterprise for the construction in progress.

Engineering materials are bought back and need to be processed and constructed again, which is very common in construction enterprises, so how to write the accounting entries for receiving engineering materials?

Accounting processing of the receipt of engineering materials.

1. When purchasing engineering materials:

Borrow: engineering materials.

Tax Payable – VAT payable (input tax).

Credit: Bank deposits.

2. When receiving construction materials:

Borrow: Construction in progress (excluding VAT).

Credit: Engineering Materials.

3. When the project reaches the predetermined usable state:

Borrow: Fixed assets.

Credit: Construction in progress.

What does engineering material mean?

Engineering materials are listed as non-current assets in the balance sheet, which refers to the building materials (such as steel, cement, glass, etc.) used in the construction of fixed assets, and the first-class turnover parts of enterprises (civil air transportation) (such as the engine of the aircraft), etc., that is, the assets that are bought back to be processed and constructed again.

The "engineering materials" account belongs to the asset class account, which is used to calculate the actual cost of various materials prepared by the enterprise for infrastructure projects, change projects and major repair projects, including the materials prepared for the project, the equipment that needs to be installed that has not yet been delivered and installed, the prepayment of large-scale equipment, and the tools and appliances prepared for production are purchased according to the project budget estimate during the capital construction period, and the detailed accounts should be set up according to the "special materials", "special equipment" and "tools", so as to carry out detailed accounting.

How do you understand the fixed assets department?

Fixed assets refer to non-monetary assets held by enterprises for the purpose of producing products, providing labor services, leasing or operation and management, which have been used for more than 12 months and whose value reaches a certain standard, including but not limited to houses, buildings, machines, machinery, and means of transportation.

Fixed assets are the means of labor of an enterprise, and they are also the main assets on which an enterprise relies for production and operation, which are usually divided into fixed assets for production, fixed assets for non-production, fixed assets for financial leasing, and fixed assets for accepting donations.

Engineering materials refer to the building materials used in the construction of fixed assets (such as steel strip chains, cement, glass, etc.), and the most important turnover parts of enterprises (civil air transportation) (such as aircraft engines). Buy back the assets to be reprocessed and constructed. Presented as non-current assets in the balance sheet.

Accounting treatment of requisitioned construction materials.

1. When purchasing materials from the workers:

Borrow: engineering materials, Borrow: tax payable - VAT payable (input tax), credit: bank deposits.

2. When receiving construction materials:

Borrow: construction in progress (excluding VAT), credit: Shouyin project materials.

3. When the project reaches the predetermined usable state:

Borrow: Fixed Assets, Credit: Construction in Progress.