What should be credited to the materials used in the construction in progress?

The materials used in the construction in progress should be recorded in the project materials account, and the enterprise accounting records set up the project materials account, which accounts for 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, and the actual cost of the equipment that needs to be installed that has not yet been delivered and installed.

and the actual cost of prepayment for large-scale equipment and the purchase of tools and appliances for production according to the estimated project budget during the capital construction period. When an enterprise purchases equipment that does not need to be installed, it should be accounted for in the "fixed assets" account, not in this account.

Raw materials are the basic raw materials for the production of a certain product. It is a product that is used at the beginning of the production process.

Raw materials are divided into two main categories. One category is forest products, minerals and marine products in their natural form, such as iron ore.

**Wait. One is agricultural products, such as grain, cotton, oil, tobacco, etc. There are many suppliers of such products, and there is no difference in quality.

The accounting entries are as follows:

Borrow: Construction in progress.

Credit: raw materials.

Credit: Taxes payable.

VAT payable - input VAT transferred out.

Extended Materials. The main content of the construction in progress.

1. During the construction period, the water, electricity and office expenses related to the office building.

Employee wages and other expenses are recorded in the construction in progress, and the secondary subjects include water and electricity expenses, office expenses, wages, design fees, and material costs.

2. Water and electricity costs: During the construction period, all the water and electricity costs consumed are included in the construction in progress - water and electricity charges.

3. Office expenses: During the construction period, all the expenses incurred by office staff are included in the construction in progress - office expenses.

4. Wages: During the construction in progress, the wages of workers are all included in the construction in progress - wages.

5. Design fee: The design cost required for the project under construction shall be included in the design fee of the project under construction.

6. Material cost: During the construction period, the cement, steel bar, and wood consumed are included in the construction in progress - material cost accounting.

(1) Raw materials for projects under construction (such as the purchase and construction of machinery and equipment for 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).

Extended information: How to write accounting entries:

1.When you have time, you can memorize more accounting subjects, or write more and memorize the accounting subjects, so that you can write accounting entries. This is important.

2.And then you have to figure out the various classifications, asset classes, liability classes, and owner's equity classes, which all have to be understood, 3The next thing is to know which ones are borrowing more and what are borrowing and decreasing.

Usually, the asset class is the increase in borrowing and the decrease in loans, and the liabilities and owners' equity classes are the increase in borrowing and decreasing loans. But there are some exceptions, such as accumulated depreciation.

4.To learn the use of formulas, the most basic and the formulas that need to be deduced, we must understand the principles and use them easily.

5.The next step is to be able to analyze, a question is in front of you, you have to analyze which accounts are involved, what type they belong to, whether they are increasing or decreasing, if it is an asset class and increasing, debit, and so on.

6.Finally, don't forget to check, according to "there is a loan, there must be a loan, and the loan must be equal" to check whether the accounting entry you wrote has a debit and a credit, whether the amount is equal, and if you don't wait, it is a mistake, and you have to re-check and write.

Before keeping accounts, the accounting entries are prepared through the accounting vouchers, so that the classification of the brokerage business can be clear at a glance, the correctness of the account records is guaranteed, and the post-inspection is easier. Each accounting entry mainly consists of the accounting symbol, the relevant account name, summary and amount.

The materials purchased for the construction project should be included in the project materials account, and the accounting entries are:

Borrow: engineering materials.

Tax payable – VAT payable (input tax).

Credit: Bank Deposits Accounts Payable.

1. This subject 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.

2. This subject should be accounted for in detail according to "special materials", "special equipment", "tools", etc.

If the impairment provision of engineering materials is modeled here, the detailed account of "impairment provision" should be set up in this account for accounting, and the "impairment provision for engineering materials" account can also be set separately for accounting.

1.The project under construction receives 10,000 raw materials purchased by the enterprise (excluding tax**) and borrows: 11,700 for the project under construction

Credit: 10,000 for raw materials

Tax payable - VAT payable (input tax transferred out) 17002 The raw materials produced by the enterprise are 8000 for the construction in progress. , tax ** (i.e. export **) 10000

Where to borrow the shed: 9700 projects under construction

Credit: 8000 for raw materials

Tax payable – VAT payable (output tax) 1700

Accounting entries refer to a kind of accounting entries that indicate the direction, account name and amount of accounts to be borrowed and credited according to the content of economic operations. Abbreviated as an entry. Accounting entries are composed of three elements: the direction of debit and credit, the name of the corresponding account (account) and the amount to be credited.

According to the number of accounts involved, it is divided into simple accounting entries and compound accounting entries. Simple accounting entries refer to accounting entries that only involve the debit side of one account and the credit side of another account, i.e., the accounting entries of one debit and one credit; Compound accounting entries refer to accounting entries composed of two or more corresponding accounts (excluding two Li rules), i.e., accounting entries of one loan for multiple loans, one loan for multiple loans, or multiple loans for multiple loans.

When the materials used in the project should be included in the construction in progress and raw materials, the relevant accounting. In different cases, the accounting treatment is also different. So how are the relevant accounting entries prepared?

There are two situations in which raw materials are used for projects under construction, and accounting entries are made

First, if the construction in progress is a production equipment, the accounting entries are:

Borrow: Construction in progress.

Credit: raw materials.

Second, if the construction in progress is immovable property, the accounting entries are:

Borrow: Construction in progress.

Credit: raw materials.

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

For example: 1. If the construction in progress is production equipment, then its specific accounting entries are as follows:

Borrow: 80,000 projects under construction

Credit: He Chen's raw materials 80,000

2. If the construction in progress is immovable property, then its specific accounting entries are as follows:

Borrow: 90400 under construction

Credit: 80,000 for raw materials

Tax Payable – VAT Payable (Input Tax Transferred Out) 10400

What is a construction in progress?

The subject of construction in progress generally refers to the machinery and equipment that need to be installed, or the company builds factories and office buildings, that is to say, it needs to go through a period of construction and installation before the completion of fixed assets, and the project is transferred to fixed assets after reaching the pre-usable state.

Generally, it is first accounted for in the accounting account of "construction in progress", and then carried forward to the accounting account of "fixed assets" after the completion of the construction of Chan Li Chan reaches the usable state.

Conditions for the construction in progress to be carried forward as a fixed asset.

1) The physical construction or production of the asset eligible for capitalization has been fully completed or substantially completed;

2) The assets purchased, constructed or produced that meet the capitalization conditions are basically consistent with the design requirements, contract provisions or production requirements, and even if there are very few places that do not conform to the design, contract or production requirements, their normal use will not be affected;

and 3) the amount of nuisance that continues to occur on the acquisition, construction or production of assets eligible for capitalization is minimal or almost non-existent.

When the enterprise receives materials for construction in progress, it is generally included in raw materials, construction in progress and other subjects for accounting, so how to do the relevant accounting entries?

Borrow: Construction in progress.

Credit: raw materials.

Borrow: Construction in progress.

Credit: raw materials.

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

3. Carry forward the accounting entries of the construction in progress.

Borrow: Fixed assets.

Credit: Construction in progress.

Fixed assets are tangible assets that are held by the enterprise industry for the production of goods, the provision of labor services, leasing or business management, and have a useful life of more than one fiscal year. Fixed assets are generally divided into production fixed assets, non-production fixed assets, leased fixed assets, unused fixed assets, unused fixed assets, financial lease fixed assets, and donated fixed assets.

What is a construction in progress?

Construction in progress refers to the expenditure on new construction, reconstruction, expansion of fixed assets, or unfinished projects such as technical transformation, equipment renewal and major repair projects. Projects under construction are generally divided into two ways: "self-operation" and "outsourcing". Self-operated projects under construction refer to projects in which enterprises purchase project materials, construct and manage them on their own; The project under construction is contracted by the enterprise through the signing of a contract and the construction of the project by other engineering teams or units.

What are the raw materials?

Raw materials are part of the asset class account. The debit side represents an increase and the credit side decreases.

Raw materials refer to all kinds of raw materials, main materials and purchased semi-finished products that are processed by the enterprise in the production process to change their form or nature and constitute the main entity of the beam product, as well as auxiliary materials that do not constitute the product entity but contribute to the formation of the product. Raw materials include raw materials and main materials, auxiliary materials, purchased semi-finished products, repair spare parts, packaging materials, fuel, etc.