How to make accounting entries in hotel accounts?

Liabilities are often used in the accounting industry. How to deal with the accounts when the guests sign the bill? Relevant accounting entries can refer to the following contents.

What is a hotel bill?

The hotel bill is that the hotel has not received the money spent by the guests at the hotel. I can't pay the bill because I haven't received the money yet. So what should we do? You can only transfer to a temporary account. Hang it up.

In practical application, a company that has a charging agreement with the hotel, such as a guest of a company or other companies, will be authorized by the effective signatory of the company to sign the bill or the original voucher for consumption, and the accounts receivable accountant of the finance department will settle accounts with the company or unit regularly. For guests outside the agreement, cash payment is required in principle. Under special circumstances, the guarantee shall be signed by the superior person in charge. The department or salesperson is responsible for collecting temporary payment, and the term is generally within one week.

Accounting entry of hotel suspense account

When accounts receivable (sales on credit) occur:

Debit: accounts receivable

Loan: income from main business

Taxes payable-VAT payable (output tax)

Upon receipt, write off accounts receivable.

Debit: bank deposit

Credit: accounts receivable