How to account for inventory items at the beginning of the period?

At first, the inventory of goods is not adjusted, if there is no profit or loss, it does not need to be adjusted, and if there is a profit or loss, it needs to be adjusted

The first case: when the profit is found:

When the inventory is found to be in surplus, the value of the inventory items should be debited to the account of "inventory commodities" and credited to the account of "loss and excess of property to be disposed of - loss and excess of current assets to be disposed of" according to the "comparison table of actual accounts and inventory".

The "Cost of Production" account is used to reflect the inventory that refers to the products in the workshop.

2) After the approval of the report, the management expenses shall be reduced.

The second case: inventory loss or damage.

1) When it is found that the inventory is lost or damaged, it should be recorded first"Pending Property Losses and Losses - Pending Losses and Losses of Current Assets"The account is debited and the relevant inventory account is credited at the same time, such as "inventory goods".

2) The reasons for the inventory loss.

1. Inventory loss caused by measurement errors.

2. Reasonable wear and tear caused by exceeding the storage time.

3. Shortage or damage of inventory due to management personnel's mistakes.

4. Inventory damage caused by natural disasters and accidents.

3) After approval, according to the cause of the loss, it is a measurement error or a reasonable loss, and it can be credited to the "management fee" after approval. If it is a staff member's dereliction of duty, the part of compensation that should be compensated by the negligent person shall be included in "other receivables"; The part borne by the enterprise shall be included in the "management expenses". The part of the inventory damage caused by extraordinary losses that should be compensated by the insurance company is included in the "other receivables".

Losses after deducting the insurance company's compensation are recorded as "non-operating expenses".

If it is a purchase, sale and deposit account, there are: inventory opening inventory, opening balance of receivable, opening balance payable, these should be recorded.

If it is a financial account, in the asset class, it is necessary to enter bank cash, commodity inventory, accounts receivable, fixed assets, etc., accounts payable, other loans, etc., as well as paid-in capital, and do not need to enter profit and loss, which are the things that are required for accounting and finance.

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The accounting method of inventory commodities is that when an enterprise purchases inventory commodities, it debits: inventory commodities, taxes payable, value-added tax payable (input tax), credit: bank deposits; When a business sells goods in stock, it borrows:

Bank deposits (or accounts receivable), credit: main business income, taxes payable, VAT payable (output tax); When the cost of goods sold in inventory is carried forward at the end of the period: debit:

Cost of main business, credit: inventory goods.

When an enterprise accounts for inventory goods, it should be accounted for through the "Inventory Goods" account. Inventory commodities refer to the products that have been inspected and received by the enterprise after completing the entire production process and in the warehouse, meeting the standard specifications and technical conditions, and can be sent to the ordering unit in accordance with the conditions specified in the contract, or the products that can be sold as commodities and the various commodities that have been purchased or commissioned to complete the inspection and receipt of the warehouse for sale. Finished products in stock, purchased goods, products stored in the store department, products that are sent out for exhibition, and goods stored outside, etc.

The substitute products that accept the processing and manufacturing of incoming materials and the substitute repair products processed and repaired by other units shall be regarded as the finished products of small enterprises after the completion of manufacturing and repair and inspection into the warehouse, and shall also be accounted for through this account. The nonconforming products that can reduce the price of ** are also accounted for in this account, but they should be recorded separately from the qualified products. After completing the sales procedures, but the purchasing unit has not picked up the finished products in the inventory at the end of the month, they should be treated as escrow products, and a separate escrow product reference book should be set up, and no longer accounted for in this account.

Small enterprises (agriculture, forestry, animal husbandry, fishery) can change this subject to "1405 agricultural products". The expenses incurred by small enterprises (wholesale and retail) in the process of purchasing goods (including: transportation costs, loading and unloading costs, packaging costs, insurance premiums, reasonable wear and tear during transportation, and selection and finishing fees before warehousing, etc.) are accounted for in the "sales expenses" account, not in this account.

If the purchased goods have arrived and been inspected into the warehouse, but have not yet gone through the settlement procedures, they can be recorded in the account according to the provisional value, debited to this account, and credited to the account of "accounts payable and provisional accounts payable"; At the beginning of the next month, the same accounting entries should be reversed with red letters, so that when the settlement vouchers such as invoices and bills are received in the next month, the accounting process will be carried out according to the normal procedures.

1. Make the following entries when the inventory commodity is profitable, after the profit, but before the enterprise approves the disposal, the entry is, borrow: inventory goods, etc., credit: property loss and surplus to be disposed of - profit and loss of current assets to be disposed of, and the following entries are made after approval, borrow: loss and excess of property to be disposed of - profit and loss of current assets to be disposed of, credit: management expenses.

2. When the inventory is in deficit:

Pre-Approval: Loan: Pending Property Losses and Losses - Pending Gains and Losses on Current Assets, Credit: Raw Materials, etc., Post-Approval:

1) Inventory losses caused by poor management and other reasons such as sending and receiving measurements shall be included in management expenses.

2) Inventory losses caused by natural disasters and other abnormal reasons are included in non-operating expenses.

3) The compensation of the person responsible for the receivable and the insurance company shall be included in other receivables.

Borrow: Administrative Expenses, Non-Operating Expenses, Other Receivables, Credit: Property Losses and Losses to be Handled - Gains and Losses on Current Assets to be Disposed of.

The detailed account of inventory commodities refers to the account books that are set up according to the name, specification and grade of the goods, and the income, issuance and balance of the goods are registered.

A three-column quantity and amount page is used to reflect and control the quantity and amount of each product. The inventory ledger reflects the accounting inventory. The accounting inventory is based on the commodity inspection and receipt warehouse as the commodity income, and the commodity sales are issued as the commodity at the time of the entry of the commodity sales.

The finance and accounting department has a comprehensive grasp of the use of commodity funds through accounting inventory, so as to understand the dynamics of inventory commodities and strengthen the management of commodity funds.

Bookkeeping refers to the process of accounting processing by accountants. The whole process from the beginning of bookkeeping to settlement and its links are called accounting, which refers to the process of accounting processing, generally from the beginning of filling in vouchers to the end of the preparation of statements (also known as accounting practice).

In the past era of planned economy, accountants only passively implemented state regulations to complete the above process. With the continuous improvement of the market economy and the continuous innovation of economic business, how to deal with each business more accurately and reasonably has become a compulsory technology for accounting. At this point, accounting is given a special meaning, no longer limited to the process but to solve how to do better.

In recent years, accounting has been valued by many people, mainly related to accounting education in China. Many schools only focus on theoretical education, resulting in many schools college graduates will not do accounts after graduation, which makes many people artificially divide accounting learning into two parts: accounting theory and accounting accounting, one focuses on theory and the other focuses on practice.

Accounting is a highly skilled course, and accounting is becoming more and more important. Similar training courses have been offered in various schools.

On the whole, the financial activity record can fully record the changes in flow and stock, and when there are specific changes in income, expenditure and net assets and liabilities, it can be fully grasped by means of bookkeeping.

<>1. When the enterprise receives the inventory goods and does not receive the invoice, it is tentatively estimated and recorded

Borrow: Inventory Commodities - Tentative Estimate.

Credit: Accounts Payable – Provisional accounts payable.

2. When the enterprise obtains the inventory commodity invoice and deducts the provisional estimate:

Borrow: Goods in stock - provisional estimate (in red).

Credit: Accounts Payable - Provisional Accounts Payable (in red).

3. When the enterprise enters the inventory goods into the account according to the content of the invoice:

Borrow: Inventory of goods.

Tax payable - VAT payable (input tax).

Credit: Accounts Payable – Company name.

When an enterprise carries out provisional valuation processing, it should be recorded in the provisional estimates. After receiving the corresponding invoices, the corresponding reversal provisional valuation treatment should be made and the correct entries should be prepared according to the content of the invoices.

1. When the debtor issues the offset items:

Debit: Accounts payable – the name of the creditor.

Credit: Inventory of goods.

Tax Payable – VAT payable (output tax).

Other income – the gain on debt restructuring (the difference in discount).

2. When the creditor receives the offset items:

Borrow: Inventory of goods.

Tax Payable – VAT payable (input tax).

Bad debt provision (difference in discount).

Credit: Accounts Receivable – Name of the debtor.

If the debtor issues the offset items, and then the creditor receives the offset items, it shall be accounted for through the secondary accounts related to "accounts payable" and the relevant secondary accounts of "accounts receivable". Accounts payable is used to account for the amount payable by the enterprise for business activities such as the purchase of materials, commodities and the receipt of labor services**.

1. When the enterprise has a surplus of inventory goods:

Borrow: Inventory of goods.

Credit: Excess of Property to be Processed - Excess of current assets to be disposed of.

2. After the enterprise finds out the reason for the profit of the inventory goods and approves it

Borrow: Excess of property to be disposed of - Excess of current assets to be disposed of.

Credit: Administrative expenses.

When an enterprise has a surplus of inventory goods, it should be accounted for through the account of "inventory goods", the account of "loss and excess of property to be disposed of - loss and excess of current assets to be disposed of" and the account of "management expenses".

Inventory commodities refer to the enterprise or Jianchang has completed the entire production process and has been inspected into the warehouse, in line with the standard specifications and technical conditions, can be sent to the ordering unit in accordance with the conditions specified in the contract, or can be sold as commodities and purchased or commissioned processing to complete the inspection of various commodities for sale.

It's hard to start taking over, but don't you think it's hard for the boss to find someone to do it?

Here are a few points for your reference:

1. Ask the boss what information he needs every day, and he can't help but work hard, and he is tired to death;

2 If this is the internal account is not for the tax to see, the inventory of goods can be estimated, from the raw materials into the factory to consume what materials are needed for the finished product, labor costs, and manufacturing costs are estimated according to the realistic situation, if there is a fixed amount of unit consumption information is better, that is, how much material, labor, and other costs are needed for a finished product, the boss has a number in mind, and you can also ask others, so that you can figure out the amount of inventory in the early stage, and then rely on you to use financial knowledge to more formal accounting.

3 Fixed assets can also be inventoried, can also be valued, or calculated by present value (market value and newness) 4 Paid-in capital to ask the boss how much to invest, but it has nothing to do with the calculation of costs, the difference you are talking about is the difference between the purchase price or the cost of self-made goods and the selling price, and it is also gross profit or net profit, which is exactly what the boss cares about.

5 Needless to say, it's better to get a software, not a few more money, it will save you time and effort, but the initial value is enough for you to be busy for a while