According to the provisions of the Provisional Regulations on Value-Added Tax and the Notice of the State Administration of Taxation on Several Issues Concerning the Recognition of Enterprise Income Tax Income, if an enterprise sells goods by way of advance payment, when the goods are not issued, it does not need to recognize the revenue, but if the invoice is issued first, it needs to pay VAT according to the regulations. So in terms of accounting, how should it be handled?
In the case of invoicing first and then collecting, assuming that the amount of VAT invoice issued is 10,000 yuan, the specific operation is explained in the following two situations:
1.The goods have been dispatched, and the buyer will pay for the goods after receiving the goodsAt this time, you can enter the sales revenue first, and then after receiving the payment, the received money will be written off the accounts receivable, and the specific entries are as follows:
Borrow: Bank deposit of 10,000 yuan.
Credit: Accounts receivable $10,000.
When the payment is received, the following entries are made:
Debit: Accounts receivable $10,000.
Credit: sales revenue of 10,000 yuan.
It should be noted that in the case of advance receipts, the advance receipts should be registered in the accounting books first, and the advance receipts should be written off when the goods are shipped.
2.The goods have not been shipped, and the buyer has not paid for the goodsSince the goods have not been issued, there is no need to recognize the income in accordance with the provisions of the Notice of the State Administration of Taxation on Several Issues Concerning the Recognition of Enterprise Income Tax Income. Therefore, in this case, the VAT invoice issued should be accounted for as follows:
Debit: Tax payable (VAT) 10,000 yuan.
Credit: sales revenue of 10,000 yuan.
Wait until the goods are sent out and the payment is received, and then write off according to the actual situation.
The above are two common situations, but there are still many details in practice, such as the situation of multiple invoices and collections, the inconsistency between the invoice amount and the actual collection amount, and so on. Therefore, special attention needs to be paid in the specific operation, and the appropriate accounting method is selected according to the actual situation. Invoicing