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.