What accounting subjects do accountants in the tourism industry need to master?

What accounting subjects do accountants in the tourism industry often come into contact with? If you don’t know much about this part of the content, then come and learn about it with the Deep Space Network!

Tourism industry Accounting knowledge that accountants need to master

In fact, many accountants now work in commercial companies, but every line of business needs accountants. The knowledge points that accountants in the tourism industry need to master are as follows:< /p>

1. First, let’s talk about the main business costs of the tourism industry

Since the tourism company itself organizes group tours, tourists go to the travel agency to sign up for the tour, and the travel agency collects travel money, which constitutes the company’s sales revenue . At the same time, when organizing guests to travel to the destination, the local travel agency reception fee, car rental fee, air ticket fee, accommodation fee, meal fee, insurance fee, ticket fee, etc. that need to be paid by the group constitute the cost of the travel team.

Due to the characteristics of the industry, tourism companies are destined to basically have no inventory accounting problems. Therefore, in terms of financial accounting, accounting subjects involving the receipt and payment of funds have become the most commonly used subjects in tourism accounting.

2. Accounts receivable in the tourism industry

In addition to accepting individual tourists and group travel in the business hall, travel agencies generally need to develop some large corporate customers. In order to provide Employees are provided with better welfare policies to reflect the cohesion of the company, and employees are generally organized to go on inspection tours on a regular basis. When a store accepts groups of individual customers, there is generally no issue of accounts receivable. But for corporate customers, they are mostly fixed customers. Therefore, most travel agencies first organize employees to travel before collecting payment, thus forming the company's accounts receivable.

This account accounts for the previous period’s travel group payment received in the current period and the current period’s uncollected group payment

When the previous period’s payment is received

Borrow: cash on hand/bank deposit

Credit: Accounts Receivable

When carrying forward income at the end of the month, the amount that has not been received should be done as follows:

Debit: Accounts Receivable

Loan: Main business income