What is the difference between material procurement and in transit materials?

Material purchases are used under the planned costing method, using this account, and then transferred to the raw material account. The materials in transit are used under the actual cost method, and the invoice has been received, but the materials have not yet arrived, this account is used. For example, under the planned cost, the purchased materials have been paid, and the goods have not been inspected and received into the warehouse.

Debit: Material Purchase Tax Payable - VAT Payable (Input Tax) Credit: Bank Deposit When Materials Are Stored Borrow:

Raw Materials Credit: Material Procurement If the actual cost method is used: Borrow:

Materials in transit Tax payable - VAT payable (input tax) Credit: Bank deposit When materials are put into storage Borrow: raw materials Credit:

Supplies in transit.

Inventory is available at planned cost and at actual cost. There is a material purchase account under the planned cost valuation. The actual cost valuation is set up under the Goods in Transit account.

Material procurement is used to collect the actual costs incurred in the process of purchasing materials and materials, including purchase price, transportation and miscellaneous expenses, etc. Its debit side registers the actual cost of the purchased material. The credit side registers the planned cost of the materials that have arrived at the enterprise and verifies the materials in the warehouse, and the closing balance represents the cost of materials in transit that have not yet arrived at the enterprise or have not been verified in the warehouse.

At the end of the period, the account registers the amount of cost variances for the materials transferred to the warehouse. The materials in transit reflect the actual cost of materials and materials purchased by the enterprise such as raw materials, which have been paid or issued commercial bills but have not yet arrived at the enterprise or have not yet been verified in the warehouse.

If you don't specify which method is used to calculate the cost, it is correct to use one of these two accounts. It should be noted that regardless of whether it is stored or not, as long as it is costed according to the plan, it must use the material procurement account.

Material procurement is used in industrial enterprises, and materials in transit are used in commercial enterprises.

The essential difference is that the cost accounting method is different, and the material procurement is the material procurement that has not been put into storage when the cost accounting is planned; The materials in transit are the actual cost accounting and have not yet been procured for the materials that have been put into storage.

Industrial enterprises use "material procurement", the debit side registers the actual cost of purchased materials, and the credit side registers the planned cost of stored materials.

"Materials in transit" is used to calculate the daily accounting of materials, commodities and other materials using the actual cost of the enterprise. The debit registers the actual cost of the goods in transit; The credit register verifies the actual cost of goods in transit that are in the treasury.

It can be seen that the debates register their actual costs, and the two accounts belong to different costing methods, which can be reflected by the credits.

Material procurement refers to the material procurement cost purchased by the enterprise unit using the planned cost method for daily accounting of materials. This subject should be in accordance with the ** unit and material varieties for detailed accounting.

If the actual cost is used for daily accounting of materials, the purchase cost of purchased materials is accounted for in the "materials in transit" account. The processing cost of materials and commodities processed by outsourced units shall be accounted for in the account of "Entrusted Processing Materials".

The purchased engineering materials are accounted for in the "Engineering Materials" account. History Subjects:"Material procurement"There used to be, and it is currently canceled and no longer in use.

If the deferred payment of the purchased materials exceeds the normal credit terms and is essentially of a financing nature, this account shall be debited according to the present value of the purchase price, and the account of "tax payable - VAT payable" shall be debited according to the deductible VAT amount.

The VAT on the purchase of goods should not be listed separately in the following situations: small-scale taxpayers shopping; Unable to obtain special VAT invoices or tax payment vouchers; The purchased goods are exempt or non-taxable; Purchases that are confirmed to be taxed at a rate of 6% or 4%.

Material procurementIt is an accounting account that accounts for the purchase cost of materials in transit under the planned cost method.

Supplies in transit. It is used to calculate the daily accounting of materials, commodities and other materials used by enterprises to use the actual cost, and the procurement cost of various materials that have been paid by the loan and have not yet been inspected and received into the warehouse. The method is different, and different accounts are selected for accounting.

1. Materials in transit are subject to actual cost accounting. It refers to all kinds of materials that have been paid and have not yet been inspected and received into the warehouse.

2. Material procurement, is applicable to planned costing. It is recorded in the material purchase at the time of purchase, and transferred to the raw material when it is put into storage.

3. Raw materials, including raw materials, main materials, auxiliary materials, purchased semi-finished products, fuels, etc.

Material-in-transit and material procurement are the accounts that are used under different material accounting methods:

1. Materials that are not stored under the planned cost accounting are included in the material procurement.

2. Materials that are not stored in the warehouse under the actual cost accounting are included in the materials in transit.

These are two ledger accounts. The emphasis on in-transit materials is that the purchased materials and materials have not yet been put into storage and are in transit. Material procurement emphasizes the cost collection and accounting of purchased materials, and the balance of material procurement belongs to materials in transit.

1. The material procurement subject mainly accounts for the actual procurement cost of materials and commodities purchased by the enterprise, and the industrial enterprises change this subject to the material procurement account. In actual work, the implementation of the planned price accounting of material cost enterprises set up this subject, the difference between the plan and the actual * through the material cost difference account.

For example, an enterprise implements planned price accounting, and the actual procurement cost incurred in the purchase of a batch of materials is 80,000 yuan (excluding tax), and the planned price is 79,000 yuan, and its accounting treatment is as follows:

When the material is purchased:

Borrow: material procurement of a material 80000

Debit: Tax Payable VAT Payable (Input Tax) 13600

Credit: Bank deposit 93600

When carrying forward material cost variances:

Borrow: raw materials 79000

Borrow: Material cost variance 1000

Credit: 80,000 for material purchases

Enterprises that implement actual accounting can also directly set up raw material accounts.

3. The material in transit account is prepared for commodity circulation enterprises. Circulation enterprises can change the material procurement to the in-transit material account due to the purchase of goods at the end of the period, and the enterprises that adopt actual cost accounting. This account mainly calculates the actual cost of goods purchased by the enterprise that have not yet arrived or have not been inspected and received into the warehouse.

For example, by the end of the month, a batch of goods with a price of 45,000 yuan has been promised by the bank, and the freight is paid in cash 2,000:

Borrow: 45,000 materials in transit

Tax Payable VAT payable (input tax) 7650

Credit: Bank deposit 52650

It can be seen that the industries in which the two subjects are applied are different, material procurement is applied to industrial enterprises, and materials in transit are used in commodity circulation enterprises.

There is no essential difference. "Material procurement" is the accounting of raw materials that have been purchased but not yet put into storage by industrial enterprises, and commercial enterprises can use the "materials in transit" account for the inventory goods that have been purchased but not yet put into storage. The subject codes are the same.

Materials in transit are used under the actual cost method of accounting, and material procurement is used under the plan cost method of accounting.

These are two different ledger accounts when it comes to making accounting entries.

The accounting scope of the accounting subject of "materials in transit" is the accounting scope of the enterprise according to the actual cost of the town accounting, for the enterprise has paid or has been issued, acceptance of commercial bills, but the materials have not yet arrived or have not been inspected into the warehouse of the procurement business, should be based on the invoice bill and other settlement vouchers, debit the "materials in transit" and other accounts, to arrive at the materials, inspection into the library, and then credit the "materials in transit".

The "material procurement" is an accounting account for the planned cost of the enterprise. When raw materials are obtained, they are first accounted for through this account.

A common form of false account for an account.

1) The materials in transit are not true. The company's materials in transit are in the form of a split button, and the enterprise has received the settlement voucher of the other party and handled the settlement of the payment, but the goods are still in transit, that is, the enterprise has obtained the ownership of the materials. In order to inflate current assets, some enterprises improve their financial status by inflating materials in transit.

In practice, the materials in transit also include commodities and materials that have been delivered to the enterprise but have not yet been inspected and received.

2) The amount of goods in transit is incorrect. In general, the amount of goods in transit at the end of the period is reflected by the closing balance of the "Supplies Purchase" account. However, when the enterprise uses the planned cost for material receipt and dispatch accounting, the closing balance of the "material purchase" account includes not only the actual cost of materials in transit, but also the difference in the cost of materials that have been inspected and received but not yet carried forward.

The difference between material procurement and in-transit materials is that the accounting content of the two is different.

Material procurement is a business in the planning cost method.

The following ledger accounts account for the purchase cost of materials in transit.

The materials in transit are used to calculate the daily accounting of materials, commodities and other materials using the actual cost of the enterprise, and the procurement cost of various materials that have been paid for loans and have not yet been inspected and received into the warehouse.

Use. All the purchase price and purchase cost of purchased materials that have been paid and verified into the treasury are debited to the account according to the actual cost and credited to the "bank deposit."

and other accounts. Materials in transit refer to the procurement and warehousing of various materials (i.e., materials in transit) purchased by enterprises that have not yet arrived or have not yet been inspected into the warehouse, and are generally used for commercial and trade enterprises.

The debit side registers the actual cost of the goods in transit purchased by the enterprise, and the credit side registers and verifies the actual cost of the materials in transit in the warehouse.