Accounting entries for lodging and meals on business trips to foreign countries
Lodging:
Borrow: administrative expenses - travel expenses
Loan: cash on hand/bank deposits
Meals:
Borrow: administrative expenses - hospitality expenses
Accounting entries for meals:
Borrow: administrative expenses - hospitality expenses
credit: cash on hand/bank deposit
What is the meaning of administrative expenses?
Administrative expenses refer to the various costs incurred by the administrative department of an enterprise for the organization and management of production and business activities. Including specific items: the board of directors and administrative departments in the management of the enterprise, or should be borne by the enterprise company funds, labor union funds, unemployment insurance premiums, labor insurance premiums, board of directors fees, intermediaries, consulting fees, litigation costs, business hospitality, office expenses, travel, postage and electricity, greening costs, management salaries and welfare costs.
Administrative expenses are period expenses and are recognized as losses or benefits in the period in which they are incurred.
Enterprises should account for the incurred and carried forward administrative expenses through the "administrative expenses" account. Enterprises in the preparatory period of the start-up costs incurred, including salaries, office expenses, training costs, travel expenses, printing costs, registration fees, etc., debit the "administrative expenses" account, credit "bank deposits" account; business administration staff compensation. Debit the "administrative expenses" account, credit the "payable employee compensation" account; enterprises in accordance with the provisions of the calculation to determine the payable mineral resources compensation fees, debit the "administrative expenses" account, credit the "payable taxes and fees" account. Taxes payable" and other subjects; office expenses, utilities, travel expenses, etc. incurred by the administrative department of the enterprise, as well as other expenses incurred by the enterprise, such as business hospitality, consulting fees, research costs, etc., are debited to the account of "administrative expenses" and credited to the account of "bank deposits". "Bank deposits" and "R&D expenses". At the end of the period, the balance of the "Administrative Expenses" account should be transferred to the "Profit for the Year" account by debiting the "Profit for the Year" account and crediting the "Administrative Expenses" account. "The debit side of the account registers the amount of profit incurred by the enterprise. The debit side of the account registers the administrative expenses incurred by the enterprise, the credit side of the registration of the end of the period transferred to the "profit for the year" account of the administrative expenses, after the carry-over of the account should not have a balance.