It's the end of the year again, are you anxious about collecting all kinds of invoices? How do I credit my account if I don't receive an invoice? If the cost is tentatively estimated, what tax-related problems will it face?
With this question in mind, let's learn about the provisional accounting of costs and expenses.
In fact, "provisional accounting" is a manifestation of the importance of substance over form in accounting. The business has already occurred, although the "ticket" has not yet arrived, but according to the requirements of the accrual system, in order to reflect the real business situation of the enterprise, it is necessary to "temporarily estimate the account".
What are the common provisional estimates?
First of all, let's talk about the relevant regulations for the provisional recording of inventories
In the procurement business, provisional valuation is a very typical problem, because there is often a time difference between the actual receipt time of procurement warehousing and invoices, and at the end of the month, it is necessary for the financial department to confirm the inventory according to the warehousing list or contract, and the provisional valuation is recorded.
Inventory is divided into purchased inventory and self-made inventory, how to operate?
(1) Purchased inventory
When the enterprise income tax is prepaid quarterly, it can be declared directly according to the accounting data (i.e., declared according to the provisional estimate), and there is no need to make tax adjustments; In the final settlement, as long as the invoice is received before May 31 of the following year, it can be deducted before tax, otherwise it is necessary to make a tax increase. If the invoice is received after the final settlement, as long as it is within 5 years, you can apply for retroactive deduction.
Special emphasis is placed on itIf the purchased inventory meets the following conditions, it can be directly recorded and deducted without the invoice issued by the seller
1.The seller of the goods is an individual, and the transaction amount meets the standard of "small and sporadic" (i.e., less than 500 yuan);
2.Inventory purchased from abroad;
3.Self-produced and self-sold agricultural products purchased from individual farmers.
(2) Self-made inventory
The cost of self-made inventory involves raw material consumption, fuel power, labor costs, etc., which may involve provisional estimation issues. For example, the provisional estimate of purchased raw materials, the provisional estimate of purchased fuel coal, labor costs, etc.
Labor costs for self-made inventory, and wages accrued without actual payment are actually provisional estimates. When the wages included in the self-made inventory are prepaid in the quarterly enterprise income tax, they shall be declared and deducted according to the accounting data, and no tax adjustment shall be made; When the enterprise income tax is settled, it is required that it must be actually issued before May 31 of the following year, otherwise it will not be deducted before tax. Of course, both the "tentative estimate" of wages and the actual payment of wages do not require invoices.
Secondly, let's talk about the provisional valuation of fixed assets
When the fixed assets have reached the intended usable state but have not yet completed the final accounts, should they be temporarily estimated and recorded?
According to Article 5 of Guo Shui Han [2010] No. 79, after the fixed assets of an enterprise are put into use, if the full invoice has not been obtained due to the unsettled project payment, the depreciation can be temporarily included in the tax basis of the fixed assets according to the amount specified in the contract, and adjusted after the invoice is obtained. However, the adjustment shall be made within 12 months after the fixed assets are put into use.
For fixed assets that have not obtained full invoices for more than 12 months, depreciation shall not continue to be accrued, and the amount of depreciation that has been accrued shall be fully adjusted and increased in tax in the current year when the 12-month period expires.
Tax provisions related to fixed assets for obtaining partial project invoices.
According to Article 5 of the National Shui Han 2010 No. 79, after the fixed assets of the enterprise are put into use, if the full invoice has not been obtained due to the unsettled project payment, the depreciation can be temporarily included in the tax basis of the fixed assets according to the amount specified in the contract, and adjusted after the invoice is obtained. However, the adjustment shall be made within 12 months after the fixed assets are put into use. Therefore, if the invoice is not obtained after 12 months of investment in fixed assets, the depreciation of the part that has not been invoiced shall not be deducted, and the deducted part shall be subject to tax adjustment in the current period.
The above is the tax law provisions on the provisional valuation of inventory and fixed assets, have you learned?