(1) Inventory surplus
According to the amount listed in the Inventory Count Table, the accounting entries are compiled as follows:
Borrow: raw materials
Turnover material
commodity stocks
Loan: loss and surplus of pending property-loss and surplus of pending current assets.
Inventory surplus is usually caused by errors in the measurement or calculation of daily receiving and dispatching of enterprises. Inventory surplus can offset management expenses. After being submitted for approval according to the prescribed procedures, the accounting entries are as follows:
Debit: loss and surplus of pending property-loss and surplus of pending current assets.
Loan: management fee
However, please note in the software that since the management fee account needs to be carried forward in the software, the following vouchers should be filled in here:
Debit: loss and surplus of pending property-loss and surplus of pending current assets.
Debit: Management fee (red)
(2) Insufficient inventory
For the inventory with inventory loss, the enterprise shall make the following accounting entries according to the "inventory inventory table":
Debit: loss and surplus of pending property-loss and surplus of pending current assets.
Loan: raw materials
Turnover material
commodity stocks
For the value-added tax that should be borne by the inventory due to abnormal losses (theft, loss, mildew and deterioration caused by poor management) of purchased goods, products in process, semi-finished products and finished products, it should be transferred to the subject of "loss and surplus of pending property" together, and the following entries should be made.
Debit: loss and surplus of pending property-loss and surplus of pending current assets.
Credit: Taxes payable-VAT payable (transfer-out input tax)
Inventories with inventory losses shall be accounted for according to the causes of inventory losses, which are normal losses and errors in the daily receipt and delivery measurement of inventories, and shall be transferred to management expenses after approval. For example, the inventory of gasoline and alcohol fluctuates greatly, and the inventory loss is small. For example, the book is put into storage 10 ton, but the inventory is only 10 kg. Most of the reasons are normal losses, so the following entries should be made:
Borrow: management fee
Loan: loss and surplus of pending property-loss and surplus of pending current assets.
For the loss that should be compensated by the negligent person, or the loss that should be compensated by the insurance company because the company has insured the inventory, the following entries should be made:
Debit: Other receivables.
Loan: loss and surplus of pending property-loss and surplus of pending current assets.
For the loss of inventory caused by irresistible reasons such as natural disasters, the following entries should be made:
Borrow: non-operating expenses-very loss
Loan: loss and surplus of pending property-loss and surplus of pending current assets.
Extended data:
Inventory surplus refers to the inventory materials, low-value consumables, in-process products and finished products that have not been recorded or reflected by the unit. According to the inventory table, economic appraisal report or certificate, other materials (the custodian's explanation of the inventory surplus, the basis for determining the value, etc.). ).
When an enterprise makes an inventory, it shall prepare an "inventory report" as the original certificate of inventory. After checking the book record of inventory with the actual record of inventory, if the book inventory is less than the actual inventory, it is inventory surplus; On the contrary, it is inventory loss. Inventory with surplus and deficit should be recorded in the subject of "property loss and surplus to be handled", and the reasons should be found out for handling.
Difference between Inventory Surplus and Fixed Assets Surplus
Article 1 1 of Accounting Standards for Enterprises No.28-Changes in Accounting Policies and Accounting Estimates mentions that "errors in the previous period usually include calculation errors, errors in the application of accounting policies, negligence or misinterpretation of facts, the influence of fraud, and inventory and fixed assets."
The inventory surplus of inventory and fixed assets belongs to previous errors, but the inventory surplus is usually small, which will not affect the judgment of users of financial statements on the financial situation, operating results and cash flow of enterprises in previous years. Therefore, the inventory surplus is accounted by the subject of "loss and overflow of pending property", and the "management expenses" are deducted after approval according to the management authority, and the previous annual statements are not adjusted.
Fixed assets are tangible assets with high unit value and long service life. Therefore, for enterprises with standardized management, it is rare and abnormal to find surplus fixed assets in inventory, and the surplus of fixed assets will affect the judgment of users of financial statements on the financial situation, operating results and cash flow of enterprises in previous years. Therefore, the inventory surplus of fixed assets should be regarded as a previous error and accounted for by the subject of "adjustment of profit and loss in previous years".
Inventory deficit refers to the situation that the book balance after inventory counting is greater than the actual balance. In the process of production and operation, in addition to normal losses, commodity damage caused by natural disasters, poor management and other reasons mainly includes the shortage of purchased goods and self-made semi-finished products, in-process products and finished products, which is called "abnormal losses" in tax law.
Inventory loss or damage should be treated as property loss and overflow to be treated. After being approved according to the management authority, according to the reasons of inventory loss or damage, the following situations shall be dealt with respectively:
1. For inventory losses caused by measurement errors and mismanagement, the scrap value, recoverable insurance compensation and negligence compensation shall be deducted first, and the net loss shall be included in the management expenses.
2. If the inventory is damaged due to natural disasters and other extraordinary reasons, the disposal income (such as waste value), recoverable insurance compensation and negligence compensation should be deducted first, and the net loss should be included in non-operating expenses.
If the inventory is damaged or lost due to abnormal reasons, the VAT input tax that cannot be deducted according to regulations shall be transferred out.
References:
Baidu Encyclopedia-Overinventory? Baidu encyclopedia-inventory loss