What is the account of the advance payment paid at the time of car purchase?

The upfront expenses of the company's expenses are includedPrepaid AccountsAccount accounting orOther receivables

Prepaid accounts refer to the payment of ** units in advance with monetary funds or monetary equivalents according to the provisions of the purchase contract. When the enterprise makes an advance payment, it is recorded according to the actual amount paid, and the basic accounting treatment is as follows:

Debit: Advance payments.

Credit: Bank deposits.

Prepaid and payable.

Distinguish. Prepayment is one of the components of the company's creditor's rights and is an advance payment to the supplier. Generally, it includes the prepaid payment and the prepaid purchase deposit.

It is an asset class account.

Accounts payable refers to the debts incurred due to the purchase of materials, commodities or the acceptance of services**, etc., which are the liabilities arising from the inconsistency between the time between the acquisition of materials and the payment of loans between the buyer and the seller in the purchase and sale activities, and belong to the liability account.

1. The advance payment paid at the time of car purchase is included in the prepayment account;

2. The specific entries are as follows:

Debit: Advance payments.

Credit: Bank deposits.

3. Prepaid accounts refer to the payment of the first unit in advance by the enterprise in accordance with the provisions of the purchase contract with monetary funds or monetary equivalents. In daily accounting, the prepaid accounts are recorded according to the actual amount paid, such as the prepaid materials, the payment for the purchase of commodities, and the pre-purchase deposit for agricultural and sideline products that must be issued in advance and recovered later. For purchasing companies, prepaid accounts are a current asset.

Prepaid accounts generally include prepaid payment and prepaid purchase deposit.

In the case that other receivables are not bought after considering the prepayment, under normal circumstances, the prepayment should be added to the current unit when adding customers under the prepaid accounts.

Advance payment at the time of purchase:

1.It is generally recorded in prepaid accounts or other receivables.

2.Wait until the full payment is settled.

Borrow: Fixed Assets - Vehicles.

Credit: Accounts prepaid.

Or. Borrow: Fixed Assets - Vehicles.

Credit: Other receivables.

No problem, it should be possible, just remember to write off the account when the invoice comes back.

It is generally recorded in prepaid accounts or other receivables.

Credited to the prepaid account Thank you!!

Legal analysis: The usual expenses incurred in the purchase of a car include: car price, vehicle purchase tax, compulsory traffic insurance, insurance premium, license fee, inspection fee, vehicle and vessel use tax, maintenance fee, gasoline fee, etc.

The entries are as follows: when purchasing a car, the car price and vehicle acquisition tax are included in the "fixed assets" account. Borrow: Fixed Assets Credit: Bank Deposits, etc.

Compulsory automobile insurance, insurance premiums, license fees and inspection fees for handling automobiles are included in the "management expenses" account. Borrow: Administrative Expenses - Vehicle Insurance Premiums Credit: Cash, etc.

Automobile road maintenance fees shall be paid at the highway management office or bank and shall be included in the "management expenses" account. Borrow: Administrative Expenses - Road Maintenance Fee Loan: Cash, etc.

The vehicle and vessel use tax is paid to the tax bureau or the bank designated by the tax department, and is included in the "management expenses" account. Borrow: Administrative Expenses - Vehicle and Vessel Use Tax Credit: Cash, etc.

Maintenance Expenses, Gasoline Expenses, etc. Incurred Borrow: Management Expenses - Automobile Expenses Credit: Cash, etc.

Recording of expenses related to the purchase of a car.

1. The price of the car and the vehicle acquisition tax are included in the "fixed assets" account.

2. The cost of production and license fees are all included in the account of "management expenses - automobile expenses".

3. The depreciation period of the automobile shall be 4 years according to the tax regulations, and the residual value rate shall be 5%.

4. Depreciation can be calculated by using the average life method.

Annual depreciation amount = original value of fixed assets x (1 - residual value rate) depreciation period.

Monthly depreciation = annual depreciation 12

5. Depreciation shall be withdrawn from the month following the entry of fixed assets.

Legal basis: Measures for the Collection of Vehicle Purchase Surcharges

Article 3 All vehicles (excluding rickshaws, animal powered vehicles and bicycles, the same below) purchased or assembled for use must pay a vehicle purchase surcharge at the time of purchase or before being put into use.

Article 4 The vehicle purchase surcharge shall be obligated to pay the vehicle purchase or user (including state organs and the military) (hereinafter referred to as the payer).

Borrow:Fixed assets- Business car 190000.

Credit: Envy and FaithPrepaid Accounts- 165,000 prepaid for the car.

Bank deposit 25000.

If the instalment is more than one year, the impact of time value should be considered, and the payment is actually financing in nature and needs to be based on future cash flows.

The present value of the car is recorded as the value of the car, and the difference between the long-term payables and the present value is treated as an unrecognized financing expense.

Amortization using the effective interest rate method is included in the financial expense.

Class. According to accounting entries.

The number of accounts involved can be divided into Jian Tansong single brother sen entries and compound entries.

A simple entry refers to an accounting entry that involves only two accounts, i.e., an accounting entry that borrows and loans.

A compound entry is an accounting entry that involves two or more accounts, not including two.

Deposit and deposit are two different concepts. The deposit will not be refunded if it is reversed; The deposit is refundable.

If it is a deposit, you can directly make an advance payment.

Borrow: cash in hand bank deposits.

Credit: Accounts Received in Advance - Deposits.

If you regret it, transfer the deposit to non-operating income.

Debit: Accounts received in advance - deposit.

Credit: Non-operating income.

If you continue to trade, transfer the income.

Debit: Accounts received in advance - deposit.

Credit: main business income.

However, the deposit shall be made as other payable upon receipt.

Borrow: cash in hand bank deposits.

Credit: Other Payables - Deposit.

The transaction continues to be transferred to income, and the transaction is reversed and refunded.

Debit: Other payables - deposit.

Credit: cash on hand bank deposits.

The deposit paid by the enterprise should be included in the "other receivables - deposit" account for accounting.

When a business pays a deposit, the accounting entries are as follows:

Debit: Other receivables - deposits.

Credit: Bank deposits.

When the business recovers the deposit:

Borrow: Bank deposit.

Credit: Other receivables - deposits.

When an enterprise pays the deposit and recovers the deposit, it should be accounted for through the relevant secondary account of "other receivables" and the account of "bank deposit". Other payables refer to the payments payable or temporarily received from other units or individuals that are not directly related to the main business of the enterprise, such as the rent payable for leased fixed assets and packaging, the deposit of deposits, the overall pension payable, and the wages not received by employees on time.

The deposit margin of an enterprise belongs to the category of current liabilities, which generally refers to the deposit margin accepted by a financial enterprise in accordance with the insurance contract. What accounts are generally used to account for the deposit margin?

Which section of the deposit deposit is accounted for?

The deposit margin shall be credited to other accounts payable. Other payables refer to the payments payable and temporarily received from other units or individuals that are not directly related to the main business of the enterprise, such as the rent payable for leased fixed assets and packaging, the deposit of deposits, the overall pension payable, and the failure of employees to receive the wages of Jingbi on time.

What is Deposit Margin?

Deposit deposit refers to a certain amount of deposit charged to customers to ensure that the property leased or lent by the enterprise can be recovered intact and undamaged as scheduled. These temporary receivables and receivables constitute a current liability of the enterprise. It refers to the deposit accepted by a financial enterprise in accordance with the insurance contract, including the deposit of a claim deposit and the deposit of credit insurance deposit.

The deposit margin shall be recorded in the account of the amount actually deposited. It is a special account for financial enterprises.

Accounting treatment: 1. This account accounts for all kinds of deposits received by enterprises (finance) from customers, such as letter of credit deposit, acceptance bill deposit, letter of guarantee deposit, guarantee deposit, etc.

2. This account should be accounted for in detail according to the customer.

3. The accounting treatment of deposit margin shall be handled in accordance with the relevant provisions on demand deposits in the "absorption of deposits".

4. The credit balance at the end of the period of this account reflects the balance of the margin accepted by the enterprise but not yet returned.

1. The accounting entries for the enterprise to pay the deposit for the purchase of the car are:

Debit: Other receivables.

Deposit for the purchase of a car. Credit: Silver Tomato Huixing deposit trembling answers.

2. When the other party returns the deposit for the repurchase of the car, the accounting entries are:

Borrow: Bank deposit.

Credit: Other receivables - car purchase deposit.

When an enterprise pays a deposit for the purchase of a car, it should pass the "Other Payables."

The account refers to the enterprise in addition to bills payable, accounts payable, accounts receivable, and employee remuneration payable.

Other payables and temporary receivables other than interest payable, dividends payable, taxes payable, long-term payables, etc.

Deposit and deposit are two different concepts. The deposit will not be refunded if it is reversed; The deposit is refundable.

If it is a deposit, you can directly make an advance payment.

Borrow: cash in hand bank deposits.

Credit: Accounts Received in Advance - Deposits.

If you regret it, transfer the deposit to non-operating income.

Debit: Accounts received in advance - deposit.

Credit: Non-operating income.

If you continue to trade, transfer the income.

Debit: Accounts received in advance - deposit.

Credit: main business income.

However, the deposit shall be made as other payable upon receipt.

Borrow: cash in hand bank deposits.

Credit: Other Payables - Deposit.

The transaction continues to be transferred to income, and the transaction is reversed and refunded.

Debit: Other payables - deposit.

Credit: cash on hand bank deposits.

The deposit for the purchase of a car is treated as a current account in the financial treatment, and the specific accounting treatment is as follows:

When the car buyer pays the deposit in advance, the entries:

Debit: Accounts prepaid (or other receivables).

Credit: Bank deposits.

Seller, when the deposit is received, entries:

Borrow: Bank deposit.

Credit: Accounts receivable in advance (other payables).

Other receivables are borrowed from bank deposits.