How to make accounting entries for the prepaid litigation fees

The accounting entries for the prepaid costs are:

Debit: Other receivables.

Credit: Bank deposits or cash in hand.

Other receivables are another important component of corporate receivables. Other receivables account accounting for various receivables and provisional payments other than ** resale of financial assets, notes receivable, accounts receivable, prepaid accounts, dividends receivable, interest receivable, subrogation recoveries receivable, reinsurance receivables, quasi-other receivables reserves for reinsurance contracts receivable, long-term receivables, etc. Other receivables usually include provisional payments, which refer to various receivables and provisional payments incurred by enterprises outside the commodity trading business.

Debit: Other receivables.

Credit: Bank deposits or cash in hand.

Other receivables are another important component of corporate receivables. Other receivables account accounting for various receivables and provisional payments other than ** resale of financial assets, notes receivable, accounts receivable, prepaid accounts, dividends receivable, interest receivable, subrogation recoveries receivable, reinsurance receivables, quasi-other receivables reserves for reinsurance contracts receivable, long-term receivables, etc.

Extended Materials: Accounting Entries.

Accounting entries are a kind of record that lists the corresponding accounts and their amounts for each economic transaction according to the requirements of the double-entry bookkeeping principle.

In practice, accounting entries are realized by filling in accounting vouchers, which is an important link to ensure the correctness and reliability of accounting records. In accounting, no matter what kind of economic business occurs, it is necessary to determine the accounting entries of the economic business by filling in the accounting vouchers in accordance with the bookkeeping rules before registering the account, so as to correctly record the accounts and check them afterwards. There are two types of accounting entries: simple entries and compound entries.

Accounting entries are different from accounting vouchers: accounting vouchers require complete elements and strict audit and preparation procedures, while accounting entries only indicate the accounts and amounts that should be debited and credited in the accounting vouchers, which is the most simplified form of accounting vouchers. Accounting entries usually appear in books only for the convenience of explanation, and accounting entries rarely appear in accounting practice.

Accounting entries are a kind of record that lists the corresponding accounts and their amounts for each economic transaction according to the requirements of the double-entry bookkeeping principle.

In practice, accounting entries are realized by filling in accounting vouchers, which is an important link to ensure the correctness and reliability of accounting records. In accounting, no matter what kind of economic business occurs, it is necessary to determine the accounting entries of the economic business by filling in the accounting vouchers in accordance with the bookkeeping rules before registering the account, so as to correctly record the accounts and check them afterwards. There are two types of accounting entries: simple entries and compound entries.

Two different formats allow you to choose the right one for different occasions. Convenient for bookkeeping.

Accounting entries are different from accounting vouchers: accounting vouchers require complete elements and strict audit and preparation procedures, while accounting entries only indicate the accounts and amounts that should be debited and credited in the accounting vouchers, which is the most simplified form of accounting vouchers. Accounting entries usually appear in books only for the convenience of explanation, and accounting entries rarely appear in accounting practice.

When prepaid: Other receivables.

Credit: Bank deposits.

When the other party compensates for the loan: bank deposit.

Management costs (at your own expense).

Credit: Other receivables.

Advance payment of litigation fees means that the plaintiff pays the litigation fees first.

Where the defendant submits a counterclaim, the case acceptance fee is to be calculated on the basis of the amount or value of the counterclaim, and the defendant is to pay it in advance. The plaintiff shall pay in advance within 7 days from the day after receiving the notice of advance payment of litigation fees from the people's court; In the case of a counterclaim, the party to the counterclaim shall pay the case acceptance fee in advance at the same time as the counterclaim is filed. Where there are real difficulties in making the prepayment, they may apply to the people's court for a postponement of the payment during the prepayment period.

Where a party fails to make an advance submission and does not submit an application for deferment of submission within the pre-payment period, it is to be handled as an automatic withdrawal of the lawsuit. The litigation costs of an appeal case shall be paid in advance by the appellant when he submits the appeal petition to the people's court.

If both parties file an appeal, the two parties to the lawsuit shall submit the advance file separately. Where the appellant fails to pay the litigation fees in advance within the appeal period, the people's court shall notify them to do so, and where the appellant fails to make the advance payment and does not submit an application for deferment within 7 days of receiving the notice from the people's court to pay the litigation fees in advance, the appeal is to be handled as an automatic withdrawal. The application for execution and other fees shall be paid in advance by the applicant at the time of filing.

Legal basis] Measures for Payment of Litigation Costs

Article 7: Case acceptance fees include:

1) First-instance case acceptance fees;

2) Second-instance case acceptance fees;

3) In retrial cases, the case acceptance fee that needs to be paid in accordance with the provisions of these Measures.

Legal analysis: It means that the litigation fee must be paid when the lawsuit is filed, and according to the relevant laws and regulations, the parties to civil litigation shall pay the case acceptance fee in accordance with the regulations, and the litigation fee shall be paid by the plaintiff within 7 days from the day after receiving the notice of the people's court to pay the litigation fee. Where a counterclaim is filed by a thin state lawsuit, the acceptance fee for the buried fiber case shall be calculated according to the amount or value of the counterclaim, and the defendant shall pay it in advance.

Legal basis: "Measures for Payment of Litigation Fees" Article 22: The plaintiff shall pay the case acceptance fee within 7 days from the day after receiving the notice of payment of litigation fees from the people's court; In the case of a counterclaim, the party who filed the counterclaim shall pay the case acceptance fee within 7 days from the day after the counterclaim is filed. The case acceptance fee for an appeal case is to be paid in advance when the appellant submits the appeal petition to the people's court.

If both parties file an appeal, they shall be submitted separately. Where the appellant fails to pay the litigation fees in advance within the appeal period, the people's court shall notify them to make the advance payment within 7 days. The application fee shall be paid in advance by the applicant at the time of filing the application or within the time limit specified by the people's court.

Where a party fails to pay litigation fees within the time limit and fails to submit an application for judicial assistance, or where the application for judicial aid is not approved and the litigation fees are not paid within the time limit designated by the people's court, the people's court is to handle it in accordance with relevant provisions.

Civil Procedure Law of the People's Republic of China》 Article 118: Parties conducting civil litigation shall pay case acceptance fees in accordance with provisions. In addition to the case acceptance fee, other litigation fees shall be paid in accordance with the rules and regulations for property cases. Where parties have real difficulties in paying litigation fees, they may apply to the people's court for a delay, reduction, or waiver of payment in accordance with provisions.

The measures for collecting litigation costs shall be formulated separately.

1. The litigation fees paid to the court and the litigation fees to the lawyer shall be recorded in the account of "management expenses --- litigation fees" respectively.

Borrow: administrative costs --- litigation costs.

Credit: Bank deposits or cash on hand.

2. If the lawsuit is withdrawn and the court refunds a part of the litigation fee, it needs to offset a part of the litigation fee.

Borrow: Bank deposit or cash on hand.

Credit: Administrative Fees--- Litigation Costs.

3. In accordance with the Accounting Standards for Business Enterprises, combined with the types of litigation expenses, the basic accounting treatment is as follows: the litigation expenses that should be borne by the financial enterprise itself are listed in the "management expenses - litigation costs", and the litigation expenses are temporarily recorded under the account of "other receivables - litigation costs".

4. Litigation fees refer to the fees that the parties should pay for initiating litigation procedures with the people's courts, including case acceptance fees and other litigation fees. The litigation costs that the parties shall pay to the People's Filial Piety Court include:

1) Case acceptance fees;

b) Application fee;

3) Transportation expenses, lodging expenses, living expenses, and compensation for lost work incurred by witnesses, evaluators, translators, and adjusters appearing in court on the date designated by the people's court.

The litigation costs shall be borne by the losing party, except where the winning party voluntarily bears them. Where the case is partially won and the case is partially lost, the people's court is to decide the amount of litigation costs to be borne by each party on the basis of the specific circumstances of the case.