How to deal with the loss of hotel items?

In the course of hotel operation, when the goods are damaged and reported, they can be accounted for through the subject of "property damage and overflow". How should the relevant accounting treatment be done?

How to report the loss of hotel items?

Hotel items reported loss should be included in the subject of "pending property loss and overflow":

Borrow: Loss and overflow of pending property.

Loans: Goods in stock

If it is an abnormal loss caused by poor management, the input tax shall be transferred out:

Borrow: Loss and overflow of pending property.

Loans: Goods in stock

Taxes payable-VAT payable (transfer-out input tax)

After the reported loss value is confirmed by examination and approval, it will be transferred out of the corresponding department account:

Borrow: raw materials (value of remaining materials in inventory)

Non-operating expenses-extraordinary loss (belonging to extraordinary loss)

Management expenses (belonging to general operating losses)

Other receivables (recoverable insurance compensation and negligence compensation)

Loan: loss and surplus of pending property.

According to the Detailed Rules for the Implementation of the Provisional Regulations on Value-added Tax, abnormal losses refer to losses such as theft, loss, mildew and deterioration caused by poor management.

Except for normal losses, the input tax that can be regarded as normal losses does not need to be transferred out.

Inventory goods belong to asset accounting subjects. Inventory goods refer to products that the enterprise has completed the whole production process, accepted and put into storage, met the standard specifications and technical conditions, can be sent to the ordering unit according to the conditions stipulated in the contract, or can be sold as goods, and all kinds of goods that have been purchased or commissioned for processing.

How to understand the loss and overflow of pending property?

"Loss and surplus of pending property" is an accounting subject, which belongs to the asset category, and accounts for the inventory gains, losses and damages of various property and materials that have been confirmed by enterprises during the inventory process. The subject of "pending property loss and surplus" often has two detailed subjects, namely "pending fixed assets loss and surplus" and "pending current assets loss and surplus". The loss and surplus of the pending property are directly related to the assets before reporting for approval, and directly related to the current loss and surplus after reporting for approval.