Accounting subjects involved in the catering industry
Specific accounting, general process and entries:
1) Purchase of raw materials such as vegetables
Borrowing: raw materials-vegetables
Raw materials-meat
Loan: cash/accounts payable
2) Payment of labor wages,
debit: main business cost
loan: salary payable to employees
debit: salary payable to employees
loan: cash
3) purchase of accessories
debit: main business cost
loan: cash
4) purchase of equipment that meets the conditions of fixed assets. Such as air conditioning
borrowing: fixed assets
lending: cash/bank deposits/accounts payable
5) paying rent, utilities, etc.
borrowing: operating expenses-rent
operating expenses-utilities
lending: cash/bank deposits/accounts payable
6) income
Accounts receivable
loan: main business income
7) income deposited in the bank
loan: bank deposit
loan: cash
8) depreciation accrual
loan: operating expenses
loan: accumulated depreciation
9) tax calculation
debit: main business tax and surcharges < Taxes payable-education surcharge
11) End-of-month carry-over cost, Expense
debit: main business cost
loan: raw materials
debit: this year's profit
credit: main business cost
operating expenses
main business taxes and surcharges
income tax
11) carry-over income
debit: main business income
loan: this year's profit.