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How to write accounting entries when buying oil and salt in catering industry?
The biggest expenditure of catering industry is not raw materials, but labor and rent. Nevertheless, the most important thing for catering enterprises is raw materials, and oil and salt are also essential. Daily necessities purchased by catering industry should be included in raw material accounting. What are the specific accounting entries?

Accounting entries for purchasing oil and salt in catering industry

The rice, oil and salt purchased by catering industry should be included in the subject of "raw materials".

Borrow: raw materials

Loan: bank deposit/cash on hand.

Where the input tax of value-added tax that can be deducted according to the tax law is involved, the account of "Taxes payable-VAT payable (input tax)" shall be debited.

Can food and beverage purchase vegetables from individual vendors be deducted?

1. If the supplier can provide an ordinary VAT invoice, the input tax deduction can be calculated according to the VAT regulations.

2. The general taxpayer of value-added tax in catering industry can purchase agricultural products produced by agricultural producers, and can use the purchase invoices of agricultural products supervised by the state tax authorities.

After buying the food and getting the invoice:

Debit: Payables-Payables

Credit: other payables/accounts payable

When paying:

Debit: Other payables/accounts payable

Credit: cash on hand/bank deposit.

What are raw materials?

Raw materials refer to all kinds of raw materials and main materials, auxiliary materials, fuels, spare parts for repair (spare parts), packaging materials, outsourced semi-finished products (outsourced parts), etc. They are processed and changed in the production process to form the main entity of the product.

The raw material account is mainly used to calculate the receipt, delivery and balance of various materials in inventory. The borrower registers the actual cost of warehousing materials and the lender registers the actual cost of issuing materials. The ending balance is debited, reflecting the actual cost of the enterprise's inventory materials.