How Should An Enterprise Keep Accounts When It Involves Long-Term Loans?

Long term loan refers to the amount of repayment period that a company borrows from a financial institution for more than one year in order to expand its production and operation and increase its fixed assets.

Enterprises should set up a "long term loan" subject, accounting for loans borrowed from banks or other financial institutions for more than one year (excluding a year).

2. The accounts should be set up according to the types of loan units and loans.

(III) the main accounting treatment of long-term loans.

(1) long term loans borrowed by enterprises should be debited according to the net cash received in real terms, and the credits should be credited to the subject (principal), and the account should be debited (interest adjustment) according to its balance.

2. On the balance sheet date, the long-term interest cost of a long term loan shall be calculated on the basis of the amortized cost and the real interest rate, and the items such as "in construction", "manufacturing expenses", "financial expenses" and "R & D expenditure" shall be debited, and the amount of interest payable calculated according to the nominal interest rate stipulated in the contract shall be credited to the subject (accrued interest) or interest payable subject to its account.

Credit this subject (interest adjustment).

3. Return

When the principal is debited, borrow the subject (principal) and credit the "bank deposit" subject.

At the same time, according to the interest adjustment and the accrued interest amount that should be sold, the items such as "in construction", "manufacturing expenses", "financial expenses" and "R & D expenditure" should be debited or credited, and credits or debits of this subject (interest adjustment and accrued interest) should be credited or debited.

At the end of this subject

It reflects the amortization cost that the enterprise has not yet borrowed for a long time.

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Q: the company commissioned external training institutions to provide insurance products introduction and compensation service training to customers. The invoice item is training fee, can it be included in the company meeting fee, if not, which subjects should be paid?

A: there is no clear provision in the accounting and tax laws regarding the scope of the conference fees.

The notice of the Hebei Provincial Local Taxation Bureau on certain business issues of enterprise income tax (No. first of 2011 of the Hebei Local Taxation Bureau) stipulates that the meeting fees that are payable during the year of taxpayers shall be deducted when the enterprise income tax is levied at the same time.

(1) the name, time, place and purpose of the conference and the attendance list of members of the conference;

(two) conference materials (meeting agenda, discussion of special items, leader's speech);

(three) special invoice for service industry issued by hotels (hotels and receptionist) at the conference.

If the enterprise fails to provide the above information, the meeting expenses shall not be deducted.

The announcement of the Jiangsu Provincial Local Taxation Bureau on the issuance of the administrative measures for pre tax deduction of enterprise income tax (twenty-first of the 13 tax regulations of the Suzhou tax regulation No. 2011) stipulates that the meeting fees for enterprises shall be invoices and payment documents before tax deduction.

The enterprise shall keep relevant materials such as meeting time, meeting place, meeting objects, purpose of meetings, contents of meetings, and standard of fees, etc., as reference materials.

The letter from the Ningbo Local Taxation Bureau on the accuracy of the answers to the relevant questions on income tax (Ningbo land tax No. 2013, No. 18) stipulates that: the enterprises do not strictly distinguish the meeting fees and travel expenses from the business entertainment expenses, and obtain the general meeting fees or meeting fees on the invoices. Because of the question of the deduction standard of business entertainment expenses, how do we get the pre tax deduction of income tax?

Business entertainment expenses refer to the necessary and reasonable expenditure for social intercourse in production and business activities.

If a business is required to provide proof data, it shall provide sufficient valid evidence or information that proves that the business is required to provide proof.

No provision can be made before tax deduction.

The contents of the proof include the amount of expenditure, the business purpose, the business relationship with the host, the time and place of the reception.

Personal entertainment expenses and hobbies expenses of enterprise investors or employees shall not be used as a deduction for business entertainment expenses.

If the tax authorities require the information provided by the tax authorities to provide documentary evidence, the company shall provide sufficient valid evidence or information to prove the occurrence of the meeting.

The contents of the proof include: meeting time, place, attendance personnel, content, purpose, cost standard, payment voucher, etc.

An enterprise shall distinguish between business entertainment expenses, business publicity expenses and conference expenses, and the expenses mentioned above cannot be clearly defined, and shall be included in the business entertainment expenses.

Referring to the aforesaid provisions, the meeting expenses for enterprises shall be kept with the time of meeting, the place of meeting, the participants, the contents of the meeting, the purpose of the meeting, and the standard of the expenses.

We understand that the training of insurance products and claims training provided by your company to the external training institutions is not within the scope of the conference fees.

If your company provides insurance products introduction and compensation service training to customers, it is a customer who has purchased your insurance product, through training to make it more aware of the insurance products purchased, which is the after-sale service content.

This expenditure can be used as an after service fee and can be deducted according to the regulations before tax.

You can calculate the expenditure through the sales expense account.