How to make accounting entries for the income of self employed businesses?

The purchase of instruments and equipment must be accounted for through "fixed assets".

Self-employed, what business is done, according to different situations to be classified:

1) If the self-employed person is a general taxpayer:

Borrow: Fixed assets.

The amount here is the price excluding tax + freight + packaging fee + labor service fee + loading and unloading handling fee + insurance fee, etc

Tax payable - VAT payable (input tax) [The amount here is the VAT on the fixed asset] Credit: bank deposits, accounts payable, notes payable, etc. [Choose different accounts according to different payment methods] If the freight is officially invoiced, (7% of the freight) can also be used as an input tax deduction.

2) If the self-employed person is a small-scale taxpayer or a taxpayer who pays business tax:

At this time, the input tax on the purchase of fixed assets is not deductible, so it is not separately charged, and it is included in the cost of fixed assets

Borrow: Fixed assets.

The amount here is the price excluding tax + VAT (input tax) + freight + packaging + labor service fee + loading and unloading handling fee + insurance premium, etc

Credit: bank deposits, accounts payable, notes payable, etc. [choose different accounts according to different payment methods].

It is equivalent to your personal income, that is, after exceeding 2,000 yuan, the income will be calculated according to the tax rate of individual income tax.

Borrow: Accounts Receivable Credit: Income from Main Business.

Borrow: Profit Distribution--- Withdrawal of Statutory Provident Fund Profit Distribution--- Withdrawal of Profit Distribution--- Withdrawal of Community Chest Profit Distribution--- Cash Dividend Loan: Provident Fund--- Statutory Reserve Provident Fund--- Arbitrary Surplus Reserve Community Chest Dividends Payable Draft Borrow:

Profit Distribution--- Undistributed Profit Credit: Profit Distribution--- Withdrawal of Statutory Provident Fund Profit Distribution--- Withdrawal of Discretionary Provident Fund Profit Distribution--- Withdrawal of Community Chest Profit Distribution--- Distribution of Cash Dividends.

Operating income is the income obtained from engaging in main business or other business, and enterprises usually set up "main business income" and "other business income" accounts for accounting treatment, how to write the accounting entries of operating income?

Debit: Accounts receivable, bank deposits.

Credit: Income from Main Business Other Income from Filial Piety and Branches.

Tax Payable – VAT payable (output tax).

Also carry forward costs:

Borrow: main business costs Other business costs.

Credit: Inventory Commodities Raw Materials.

What are accounts receivable?

Enterprises should set up "accounts receivable" accounts, and set up detailed accounts for accounting according to different purchasing or receiving labor units. For enterprises that do not set up a separate "Accounts Receivable" account, the accounts receivable are also accounted for in the "Accounts Receivable" account. the increase in accounts receivable registered by the debit, the recovery of accounts receivable registered by the credit side and the bad debt loss (i.e. decrease) recognized; The closing balance is on the debit side, which indicates the accounts receivable that have not been collected by the enterprise; If the balance is on the credit side, it represents the amount received in advance by the business.

What is Revenue?

Operating income includes other business income and main business income; The main business income refers to the income generated by the company's regular and main business. Other business income refers to other business income other than the above-mentioned main business income.

Calculation method of operating income:

Operating income = other business income + main business income + deemed sales revenue.

Operating income = product sales volume (or service volume) Product single and simple price (or service unit price).

The sales revenue of the main and by-products (or different grades of products) should be fully included in the operating income; Income from different types of services provided should also be included in operating income.

According to the provisions of the "Enterprise Income Tax Law", the income obtained by an enterprise in monetary and non-monetary forms from various ** is the total income, including: income from providing labor services, income from sales of goods, income from transfer of property, dividends, bonuses and other equity investment income; rental income; interest income; Receiving income from donations; royalty income; Other income.

Accounting entries for individual income tax of self-employed individuals, accrued at the time of Zen time, borrow: income tax expense, credit: tax payable - individual income tax, when paid after declaration, borrow: tax payable - individual income tax, credit: bank deposit.

Individually-owned businesses refer to citizens who have the ability to operate and have been registered with the administrative department for industry and commerce in accordance with the provisions of the Regulations on Individually-owned Businesses and are engaged in industrial and commercial operations. Paragraph 1 of Article 2 of the Regulations on Individually-Owned Businesses stipulates that: "Citizens with the ability to operate, who have been registered with the administrative department for industry and commerce in accordance with the provisions of these Regulations and are engaged in industrial and commercial operations, shall be self-employed businessmen."

The main business refers to the business of the taxpayer mainly taking transportation, construction, real estate development and other behaviors as the main business projects of the enterprise. So what should be done with the corresponding accounting entries?

What is the main business?

The main business refers to the business of the taxpayer mainly in the transportation, construction, real estate development, financial insurance, post and telecommunications, culture and sports, entertainment, tourism, catering, service and other industries, as well as the business of mining, production and operation of taxable products subject to resource tax as the main business items.

Enterprises that sell commodities (products), sell immovable property, transfer land use rights, and provide labor services in the form of advance accounts and installment collection, and construction enterprises that collect project fees in advance shall determine the realization of income in accordance with the provisions of the Financial Accounting System and the tax law, and calculate and pay taxes in a timely manner in accordance with the regulations.

Relevant accounting entries.

Borrow: Business tax and surcharge.

Credit: Tax Payable - Business Tax Payable.

Land Appreciation Tax (LAT) is payable.

Urban maintenance and construction tax should be paid.

Credit: Other Payables - Education Surcharge Payable.

It should be handed over to the construction of cultural undertakings**.

Accounting entries are prepared when taxes and surcharges are paid.

Borrow: Tax Payable - Business Tax Payable.

The resource tax should be paid for a long time.

Land Appreciation Tax (LAT) is payable.

Urban maintenance and construction tax should be paid.

Borrow: Other Contributions Payable - Education Fee Surcharge Payable.

It should be handed over to the construction of cultural undertakings**.

Credit: Bank deposits.

Tax accounting treatment of resource tax taxpayers in procurement, production and sales:

1.Accounting entries are prepared when untaxed mineral products are acquired.

Borrow: material procurement.

Credit: Tax Payable - Resource Tax Payable.

2.For self-produced and self-used products subject to resource tax, accounting entries shall be prepared when they are transferred for use.

Borrow: production costs, manufacturing expenses, etc.

Credit: Tax Payable - Resource Tax Payable.

3.Accounting entries are prepared when income from the sale of products subject to resource tax is obtained.

Borrow: Product sales tax and surcharge.

Credit: Tax Payable - Resource Tax Payable.

4.When paying taxes, prepare accounting entries.

Borrow: Tax Payable - Resource Tax Payable.

Credit: Bank deposits.

The income tax paid on the production and operation income of individual industrial and commercial households is a kind of tax payment business with relative characteristics in China. Regarding the income tax accounting issues involved, many accountants do not know how to deal with it, so let's take a look.

The income tax paid on the production and operation income of individual industrial and commercial households is a kind of tax payment business with relative characteristics in China. Individually-owned businesses, like enterprises, calculate their accounting income according to the constituent elements of their profits, and then add or subtract tax adjustment items on the basis of their accounting income to calculate their tax income.

The accounting entries are as follows:

1. Accrual: borrow: income tax expense.

Credit: Tax Payable - Individual Income Tax Payable.

2. Turn it in. Debit: Tax payable - personal income tax payable.

Credit: Bank deposits.

3. Carryover. Borrow: Profit for the current year.

Credit: Income tax expense.

4. Withholding and paying individual income tax on employees' wages and salaries, and making accounting entries for the tax on personal income when preparing and paying wages.

Borrow: Employee remuneration payable.

Credit: Tax Payable - Individual Income Tax Payable.

Credit: Bank deposits (or cash on hand).

5. Turn it in. Debit: Tax payable - personal income tax payable.

Credit: Bank deposits.

Tax treatment of income tax payments.

1. The tax payable calculated according to the taxable income shall be credited to the account book of "tax payable - income tax payable" after it is calculated; When actually paid, the "Tax Payable - Income Tax Payable" account is debited.

2. The calculation of accounting income is different from that of taxable income, and the income tax calculated accordingly shall be debited to the "income tax" account to indicate the occurrence of expenses.

3. If the accounting income is consistent with the taxable income, only the "income tax" account is debited and the "tax payable - income tax payable" account is credited according to the tax payable.

4. If the two are inconsistent, there will be a difference in the tax payable, and the tax payable calculated according to the accounting income will generally be debited to the "income tax" account.

The accounting division of individual industrial and commercial households to pay individual income tax is boring

Accrual: Debit: Income Tax Expense.

Credit: Tax payable - Individual income tax payable by individual industrial and commercial households.

When paying: borrowing: tax payable - individual income tax payable by individual industrial and commercial households.

Credit: Bank deposits.