There is an interesting phenomenon in bookkeeping now, that is, many people think that hospitality and catering expenses are actually a concept, but they are actually different for business needs. Many people confuse these two concepts, thinking that business entertainment expenses are catering expenses, and catering expenses are business entertainment expenses. At that time, these two concepts were not equal. On the one hand, the scope of business hospitality accounting is larger than catering expenses; On the other hand, catering expenses are not necessarily included in business entertainment expenses.

Hospitality accounting content includes four pieces:

1. Banquet or working meal expenses.

2, the cost of giving souvenirs, usually gifts should be accounted for in the business entertainment.

3, organize employees to visit tourist attractions, ticket fees, transportation fees and miscellaneous expenses should also be accounted for in the hospitality.

4. External business relations personnel go to the company for business trips, research and projects, and the travel expenses are reimbursed in the company.

Some catering expenses cannot be included in business entertainment expenses.

1. During the employee's business trip, the meal expenses incurred in eating can be included in the travel expenses, not included in the business entertainment expenses.

2. The company organizes meetings, such as annual meeting and shareholders' meeting. Meals during the meeting are included in the meeting fee.

3. When employees go out for training, the meal expenses incurred during the training period can be recorded as employee education funds.

4. Meal expenses generated by employees' overtime work can be credited to employee welfare expenses.

Pre-tax deduction of business entertainment expenses

Compared with the previous tax regulations, the pre-tax deduction standard for business entertainment expenses has become simple. One thing is clear: business entertainment expenses cannot be fully deducted before income tax. How much can I deduct? Only 60% of the total business entertainment expenses can be deducted. However, there is a premise that the amount calculated according to 60% should be compared with 5‰ of operating income, and the lower amount should be taken as the basis for pre-tax deduction. In other words, the deduction standard is 60% of the total business entertainment expenses and 5‰ of the income.

This deduction standard has a strong value orientation, which is a good thing. Business entertainment expenses are mainly expenses for eating and drinking and are not allowed to be deducted in full, which embodies the idea of thrift and revolution. It is a bad habit to settle business negotiations at the dinner table.

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