How to make accounting entries for the estimated cost?

① Estimated receipt: a commodity is estimated and recorded according to the purchase contract when the invoice has not arrived. If the VAT invoice does not arrive, the provisional estimated value will be recorded only after the VAT invoice arrives. Then purchase according to the correct VAT invoice.

1. Pre-offset accounting entry of estimated collection:

Borrow: raw materials/inventory goods (red),

Loan: accounts payable/estimated accounts payable -XXX supplier (red);

2, according to the received VAT invoice warehousing, accounting entries:

Borrow: raw materials/inventory goods,

Taxes payable/VAT payable/input tax,

Credit: accounts payable /-XXX supplier.

② Estimated cost:

Borrowing: main business cost, engineering construction, engineering construction-contract cost-subcontracting cost/contract performance cost,

Loans: accounts payable, wages payable to employees, etc.