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Accounting transactions of the social fund in double-entry bookkeeping

Accounting transactions of the social fund account in the double entry bookkeeping

Social fund account in the double entry bookkeeping: select accounting transactions..

Social fund booking is not a routine accounting operations. Therefore, we have selected the most important accounting operations that are relevant for the accountants and in the accounting practice.

The overview should guarantee a smooth and proper accounting of the social fund. Among the cases that we have prepared are: creation of social fund account, mandatory annual allocation, use of social fund, financial assistance granted to employees for recreation, transportation, social assistance, health care, accounting for recreational trips for employees, the transfer of the social fund part, settlement of the liability of the social fund transfer and closure of the account.

Accounting Transaction Debit Credit
     
Opening of the account on 1.1.of the relevant year 701 472
     
     
Creation of the social fund:    
-        mandatory and other contributions to the social fund (§3 ZSF) 527 472
-        additional contributions that co-create the social fund - gifts, grants, contributions made ​​by an employer to the fund (§4 ods.2 ZSF) 221 472
-        a contribution to the social fund from the employer's profit (§4 ods.3 ZSF) 431,428 472/AÚ
     
     
     
Billing of the mandatory annual contribution from the sum of annual gross wages:    
-        advances were lower 527 472
-        advances were higher -527 -472
     
     
     
Use of the social fund:    
-        the reimbursement of meal tickets 472 213
-        to pay for the in-house catering 472 602
-        granting the loan to the employee from the social fund 472 221,211
-        payments received on loans granted from the social fund (the loan is tracked in the off-balance sheet account) 221,211,331 472
     
     
     
The financial contribution granted to employees for recreation, transportation, social assistance, health care:    
-        settlement of claim for contribution 472 333
-        reduction of taxes from employment unless they are exempt 333 342
-        social security 333 336
-        payment of taxes from employment 342 221
-        payment of social security 336 221
-        payment of the allowance after tax 333 221,211
     
     
     
Accounting for recreational trips for employees:    
-        invoice from the supplier 335 321
-        leisure trip of the employee settled from the social fund 472 335
-        income tax from the allowance granted 331 342
-        social security from the allowance granted 331 336
     
     
     
Transfer of part of the social fund corresponding to the share of employees transferred to the new employer ( §6 section 4 ZSF) 472 379
Payment of liabilities from the transfer of social fund 379 221
     
     
Closure of the account on k 31.12. of the relevant year 472 702

 

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