Month End Settlement Procedures

I want to be an accountant at the end of the month. I am aware that the end of the month is the busiest time for our accountants. We are all busy checking out. But I think every accountant should be successful or doubtful about what specific work should be done at the end of the month and what logical relationship it should be used to prove that the end of the month is closing. This is my personal summary of the end of the month checkout. I hope we can help you understand the methods and procedures of closing accounts at the end of the month from a practical perspective.

For the end of the month checkout time. From the accounting practice in China, the general checkpoint at the end of the month is at the end of the natural month. Of course, in practice, some units have their own business defined by their own accounts, such as 25 days' checkout. For this question, individuals prefer to settle accounts according to natural month.

The reasons are as follows:

1, tax synchronization can be done to reduce unnecessary tax risks. According to the tax law, the tax period is defined according to the natural month. tax law According to the stipulations, the tax statements should be adjusted according to the tax period, and the work difficulty is relatively high. And it is difficult for tax verification. In practice, most of them do not adjust according to the tax law, resulting in larger tax risks.

2, reduce the risk of non-uniform timing due to self closing date. In practice, a lot of financial data come from non finance department, which is provided by non professional financial personnel. There may be some deviation in understanding the custom checkout date. Some enterprises with relatively strong financial strength may prescribe the use of invoices and other means to reduce the difference before the day of closing date, but this will be harmful to the operation of enterprises or the compliance with the tax laws.

Step one: first review all the vouchers this month and check carefully to reduce errors. The end of month settlement is based on the daily accounting voucher. Nissin On the basis of the requirements, the daily accounting voucher data and entries are accurate. It is generally recommended to settle accounts at the end of the month.

The second step: do the following items. Check the accounts.

1. Cash: liquidation at the end of the closing date and compiling the checklist. Fair cash can prove that the entries in all entries are correct. Check cash day Bookkeeping Identify and handle all cash related vouchers.

2. Bank deposits: bank account reconciliation form for all detailed accounts.

3, inventory: including raw materials, products, finished products and so on. At the end of the month, check and check the inventory results and the subsidiary ledger. If there are differences, we should find out the causes and deal with them.

The third step: check the relationship between tax statements and accounts payable and subsidiary accounts.

1, using the principle of bank deposit adjustment table, we can check the tax input tax certification list, the four small ticket software list (including freight, customs duty payment voucher, waste materials, agricultural products acquisition) and the enterprise's payable tax - the value added tax (input tax) subsidiary ledger, and can participate in the bank deposit adjustment form to prepare the input tax adjustment form. The main adjustment is the time difference between the amount of the items that can not be deducted by the tax law stipulated in the tax law of the same account and the certificate of return.

2, check the list of sales tax, the list of sales of gold tax invoices, the list of ordinary invoices and the no ticket receipts, and the tax payable by enterprises - the value added tax (output tax) payable. A unit with a sales tax can check the list of the subsidiary ledger and invoice of the enterprise, and the principle is the same.

3, the principle of checking the details of the tax payable and other taxes payable is the same. After checking, all tax return forms will be compiled at the same time.

The fourth step: check all the details of the account balance to adjust the abnormal direction of the balance.

Checking accounts payable.

1. Check all subsidiary ledgers and general ledgers.

2, check accounts receivable, accounts payable, advance accounts, prepaid accounts whether there is a string of households to clean up.

3, check accounts receivable, prepaid accounts, other receivables, details of whether there is a credit balance, if there should be identified reasons for adjustment. The general reason is to make a wrong account or a unit has opened two details. If the receivable credit should be transferred to the pre account receivable, the advance account credit should be transferred to the accounts payable, and other receivables should be transferred to other payables. Similarly, accounts receivable, advance accounts and other payables should be debited.

The fifth step: the compilation of transfer entries for monthly closing accounts:

1. All expenses shall be accounted for according to the principle of right responsibility. Such as wages, welfare benefits, business tax and so on.

2, amortization of low value consumables, intangible assets, depreciation, amortization of prepaid expenses, provision for accrued expenses, etc.

3, temporary assessment materials (for the enterprises to enter the warehouse materials at the end of the invoice receipts should be established ledger), carry over manufacturing costs, the cost of finished products, the cost of carry over product sales, etc. (combined with stock taking results simultaneously)

4, carry forward the current profit and balance all profit and loss subjects. (specific closing entries can be combined with the actual business).