Accounting entries for profit and loss carried forward, how to do accounting entries for profit and

The general profit and loss accounts must be carried forward at the end of the month. The accounting entries when carrying forward the profit or loss for the period are as follows:

1. Carry-over entries:

Carry forward all income.

Borrow: main business income, other business income, non-operating income.

Credit: Profit for the year.

2. Carry-over of expenses during the period.

Borrow: Profit for the current year.

Credit: administrative expenses, operating expenses, financial expenses.

Carry-over of costs.

Borrow: Profit for the current year.

Credit: Cost of main business, other operating expenses, non-operating expenses.

3. Carry-over of taxes.

Borrow: Profit for the current year.

Credit: main business tax and surcharge, income tax.

Borrow: Profit for the current year.

Credit: Profit Distribution - Undistributed Profits.

Debit: Profit distribution - undistributed profit.

Credit: Dividends payable.

1. Profit and loss entries carried forward from monthly unearned income:

Borrow: main business income.

Borrow: Non-operating income.

Credit: Profit for the year.

2. Profit and loss entries carried forward from monthly uncost expenses:

Borrow: Profit for the current year.

Credit: Cost of Principal Operations.

Credit: Administrative expenses.

Credit: Finance Expense.

Credit: Selling expenses.

Credit: Non-operating expenses. Satisfied.

The information of the accounting statement comes from the accounting books, and the information of the accounting books comes from the accounting entries, and the so-called carry-forward profit and loss is to make two accounting entries, the first entry puts the profit and loss accounts of the credit side, such as operating income, investment income, non-operating income, etc., on the debit side (so that the loan is balanced, and there is no balance at the end of the period), and the credit side is the "profit of the year" account. The second entry is to put the profit and loss accounts incurred by the debit side, such as operating costs, management expenses, sales expenses, etc., on the credit side, and the debit side is still "profit for the year".

Extended Information: Accounting treatment of profit and loss carry-forward for the period.

1. When the enterprise carries forward profits at the end of the period (month), the amount of each profit and loss account shall be transferred to the profit account of the current year and the profit and loss account shall be settled. The credit balance of the profit account for the current year after carry-forward is the net profit realized in the current period; The debit balance is the net loss incurred in the current period.

2. At the end of the year, the net profit realized in the current year after the income and expenditure of the current year are offset shall be transferred to the "profit distribution" account, the current year's profit account shall be debited, and the "profit distribution - undistributed profit" account shall be credited; For example, make the opposite accounting entry for the net loss. There should be no balance in the current year's profit account after the carry-forward.

3. The balance of the profit account of the current year represents the net profit or net loss accumulated during the year, and the account is not carried forward at ordinary times, but is transferred to the profit distribution account at the end of the year at one time, and borrows: the profit of the current year.

Credit: Profit Distribution - Undistributed Profits.

In the case of a loss, a reverse entry is made. At the end of the year, only the undistributed profit has a balance in each sub-ledger of profit distribution, and the other sub-accounts need to be flattened and debited: profit distribution - undistributed profit.

Borrow; Profit distribution – Withdrawal of surplus reserve for dividends payable.

Fourth, carry-over entries:

1.Carry forward all income.

Borrow: main business income, other business income, non-operating income.

Credit: Profit for the year.

2., the carry-over of period expenses.

Borrow: Profit for the current year.

Credit: administrative expenses, operating expenses, financial expenses.

3.Carry-over of costs.

Borrow: Profit for the current year.

Credit: Cost of main business, other operating expenses, non-operating expenses.

4., tax carryover.

Borrow: Profit for the current year.

Credit: Taxes and surcharges, income taxes.

5. Carry forward profits and losses.

Borrow: Profit for the current year.

Credit: Profit Distribution - Undistributed Profits.

Debit: Profit distribution - undistributed profit.

Credit: Dividends payable.

Borrow: main business income.

Other business income.

Non-operating income.

Credit: Profit for the year.

Borrow: Profit for the current year.

Credit: Cost of Principal Operations.

Other operating expenses.

Non-operating expenses.

Management fees. Selling expenses.

Finance Expenses. Income tax expense.

Borrow: Profit for the Year, Credit: Administrative Expenses, Credit:

Selling expenses, Credit: Financial Expenses, Credit: Non-operating expenses, Credit:

Cost of Principal Operations, Credit: Other Operating Costs, Credit: Asset Impairment Loss, Credit:

credit impairment losses, etc.

Borrow: Income from main business, Borrow: Income from other businesses, Borrow: Non-operating income, Borrow: Investment income, Borrow: Gain or loss on disposal of assets, Borrow: Gain or loss on changes in fair value, Credit: Profit for the year.

The accounting points of month-end carry-forward profit and loss are as follows:

1. Carry forward various incomes;

2. Carry-over of expenses during the period.

3. Carry-over of costs;

4. Carry-over of taxes.

Combine all profit and loss accounts.

The balance is fully transferred to the "current year's profit."

Accounts, known as profit and loss carryforwards.

The purpose is: 1. Only the profit and loss can be carried forward to the balance sheet.

leveling; 2. Carry forward expenses and income to profits, and understand the current accounting period.

profit and loss. Profit and loss accounts include:

1. Main business income;

2. Other business income;

3. Non-operating income;

4. Cost of main business;

5. Taxes and surcharges;

6. Other business expenses;

7. Sales expenses;

8. Management expenses;

9. Financial stupidity, including business expenses, etc.

The method of monthly carry-forward is called the "account settlement method", and the method of one-time carry-forward at the end of the year is called the "statement settlement method buried in the file".

The amount of the item is based on the amount of "undistributed profit" in the previous balance sheet and the income statement for the current period.

of "net profit."

The total amount is filled.

**The software currently only provides the accounting method, it should be noted that there is an option in the "Period Unprocessed" - "Advanced Settings", one is to carry forward in the opposite direction of the account balance (the default value of the system, the amount is converted to a positive number and then the balance is defined in the opposite direction; For example, if Finance Expense – Interest Income is recorded as a negative debit, the system will carry forward the positive debit to the current year's profit when it is carried forward. the second is to carry forward in the opposite direction according to the direction of the account defined in the account attributes; For example, if Finance Expense – Interest Income is recorded as a negative debit, the system carries forward the negative credit to the current year's profit when it is carried forward.

In the actual application process, users should pay attention to the discrepancies to avoid misunderstanding of the relevant accounting statements. The accounting method is to carry forward the net closing balance of the profit and loss account to the profit account of the current year at the end of each accounting period, and the balance of the profit and loss account is not left at the end of the month. The current year's profit account on the balance sheet is filled in with the actual balance of the account.

Under the accounting method, at the end of each month, the balance of the profit and loss account needs to be transferred to the profit account of the current year.

The general profit and loss accounts must be carried forward at the end of the month. The accounting entries when carrying forward the profit or loss for the period are as follows:

1. Carry-over entries:

Carry forward all income.

Borrow: main business income, other business income, non-operating income.

Credit: Profit for the year.

2. Carry-over of expenses during the period.

Borrow: Profit for the current year.

Credit: administrative expenses, operating expenses, financial expenses.

Carry-over of costs.

Borrow: Profit for the current year.

Credit: Cost of main business, other operating expenses, non-operating expenses.

3. Carry-over of taxes.

Borrow: Profit for the current year.

Credit: main business tax and surcharge, income tax.

Borrow: Profit for the current year.

Credit: Profit Distribution - Undistributed Profits.

Debit: Profit distribution - undistributed profit.

Credit: Dividends payable.

The practice of carrying forward profit and loss accounting entries is as follows:

1. When carrying forward income: borrowing: main business income, other business income, and non-operating income; Credit: Profit for the year.

2. When carrying forward costs, expenses and taxes: borrowing: profit for the current year; Borrow;

Cost of main business, taxes and surcharges, other business costs, selling expenses, administrative expenses, financial expenses, non-operating expenses, income tax expenses. Borrow: Profit for the current year. Borrow;

Asset impairment losses.

3. Annual carry-over profit distribution: the net profit realized in the current year after offsetting the income and expenditure of the current year. Borrow:

Profit for the year; Credit: Profit Distribution - Undistributed Profits. If it's a loss:

Debit: Profit distribution - undistributed profit. Credit: Profit for the year.

Profit distribution refers to the distribution between the state and enterprises and between enterprises in accordance with the regulations on the total profits realized by the enterprise and the profits from the associated units in a certain period of time (usually annual). Carry-forward profit and loss refers to the process that at the end of the period, the balance of the profit and loss department will be carried forward to the profit of the current year, and after the carryover, the balance of the profit and loss account will be zero.

Profit and Loss Accounts:

It includes income and dormancy accounts, expense accounts, gains directly included in the current profit, and losses directly included in the current profit. The profit and loss account is mainly used to calculate the profit of the current year.

Profit and loss accounts include main business income, other business income, investment income, fair value change profit and loss, non-operating income, main business costs, taxes and surcharges, other business costs, management expenses, financial expenses, sales expenses, asset impairment losses, non-operating expenses, income tax expenses, profit and loss adjustments for previous years, etc.

At the end of the period, the profit and loss accounts need to be transferred to the current year's profit account for accounting, and the balance of these accounts should be zero after the carryover, so how to write accounting entries when carrying forward profits and losses?

Accounting entries for profit or loss carried forward.

1. When carrying forward income:

Borrow: main business income.

its rotten Bita business income.

Non-operating income.

Credit: Profit for the year.

2. When carrying forward costs, fees and taxes:

Borrow: Profit for the current year.

Credit: Cost of Principal Operations.

Taxes and surcharges.

Other business costs.

Selling expenses. Management fees.

Finance Expenses. Non-operating expenses.

Income tax expense.

Borrow: Profit for the current year.

Credit: Asset impairment loss.

3. Annual carry-over profit distribution.

Net profit realized for the year after offsetting the income and expenses of the year.

Borrow: Profit for the current year.

Credit: Profit Distribution - Undistributed Profits.

If it's a loss:

Debit: Profit distribution - undistributed profit.

Credit: Profit for the year.

How to understand the main business income and other business income?

The main business income refers to the operating income obtained by the enterprise from engaging in the production and operation activities of the industry, mainly including the income from the sale of products, semi-finished products and the provision of industrial labor services in the manufacturing industry; ticket revenue, customer revenue, and catering revenue in the tourism service industry; Commodity sales income of commodity circulation enterprises, etc. The main business income belongs to the profit and loss account, which increases in credit and decreases in debit.

Other business income, the main business income of the enterprise is the inflow of all economic benefits formed through the sale of goods, the provision of labor income and the transfer of the right to use assets and other daily activities, including the sales of materials and packaging, the leasing of fixed assets, the transfer of intangible assets, the leasing of packaging, transportation, and the income of waste materials. Other business income is a profit and loss account, with the debit side indicating a decrease and the credit side indicating an increase.

Enterprises need to carry forward profits and losses at the end of the period, and accountants generally account for them through the "profit of the year" account.

1.Accounting entries for carrying forward various expenses and loss accounts:

Borrow: Profit for the current year.

Credit: Cost of Principal Operations.

Other business costs.

Taxes and surcharges.

Management fees. Selling expenses.

Finance Expenses. Non-operating expenses.

Credit impairment losses.

income tax expense, etc.

2.Accounting entries for various income and profit accounts carried forward:

Borrow: main business income.

Other business income.

Non-operating income.

Credit: Profit for the year.

What is the profit for the year?

The profit of the year refers to the net profit (or net loss) of an enterprise in a certain fiscal year, which belongs to the owner's equity account. It is a dynamic index calculated and determined according to the composition of corporate profits, and gradually accumulated by enterprises from January to December of the Gregorian calendar. The profit of the current year is credited to the income realized by the enterprise in the current period, and the expenses and expenses incurred by the enterprise in the current period are debited.

After the credit amount is offset, the credit balance of the current year's profit is the net profit of the current period; The debit balance is the net loss for the current period.

What is the main business income?

The main business income belongs to the profit and loss account. The "main business income" account is based on the income from the main business such as the sale of goods and the provision of services recognized by the enterprise. If the contract between the enterprise and the customer meets the following five conditions at the same time, the enterprise shall recognize the income when the customer obtains control of the relevant goods:

1) The parties to the contract have ratified the contract and undertake to fulfill their respective obligations;

3) the contract has clear payment terms related to the transferred goods;

4) the contract has commercial substance, i.e., the performance of the contract will change the risk, time distribution or amount of the enterprise's future cash flows;

5) The consideration to which the enterprise is entitled to receive as a result of the transfer of goods to the customer is likely to be recovered.

Accounting entries for the current year's profits are done in four steps:

1. Carry forward income first:

Borrow: main business income.

Borrow: Other business income.

Borrow: Non-operating income Blind.

Credit: Profit for the year.

2. Carry-forward costs, fees and taxes:

Borrow: Profit for the current year.

Credit: The main business cost of the pants.

Credit: Principal business tax and surcharge.

Credit: Other operating expenses.

Credit: Operating expenses.

Credit: Administrative expenses.

Credit: Finance Expense.

Credit: Non-operating expenses.

Credit: Income Tax.

3. Carry-over investment income: pure.

Net income: borrowed: investment income.

Credit: Profit for the year.

Net loss: borrow: profit for the year.

Credit: Investment income.

Fourth, the annual carry-over profit distribution:

Net profit realized for the year after offsetting the income and expenses of the year.

Borrow: Profit for the current year.

Credit: Profit Distribution - Undistributed Profits.

If it's a loss:

Debit: Profit distribution - undistributed profit.

Credit: Profit for the year.