An accounting treatment for the tourism industry

Since the tourism company itself organizes group tours, tourists sign up for the tour at the travel agency, 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.

1. Accounts receivable

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 with better services, travel agencies A good welfare policy, in order to reflect the cohesion of the company, generally organizes employees to go on inspection tours regularly. 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 travel group payments received in the current period and the uncollected group payments receivable in the current period.

When the previous receivables are received in the current month: dr: cash on hand (bank deposit)

cr: accounts receivable; when the income is carried forward at the end of the month,

< p>For travel group funds that have not been received:

dr: accounts receivable

cr: main business income;

2. Prepaid accounts

The accounting of prepaid accounts is mainly used by tourism companies to pay the travel expenses for group travel in the current period. When paying the travel expenses of the early travel group, the "accounts payable" account is used and is not calculated in this account.

When paying the current travel payment:

dr: prepaid account

cr: cash on hand (bank deposit);

Month-end balance When converting to cost:

dr: main business cost cr: prepaid accounts;

3. Accounts payable

This account accounts for the company’s early payment and Tour group fees payable but unpaid in the current period.

When paying the upfront tour group fee:

dr: Accounts payable

cr: Cash on hand (bank deposit),

At the end of the month When carrying forward costs:

dr: main business costs

cr: accounts payable;

4. Advances received

This account accounts for the travel group money received in this period. Payments received from previous tour groups are accounted for in the accounts receivable account, not in this account.

When receiving the current travel group payment:

dr: cash on hand (bank deposit)

cr: advance payment;

When the income is carried forward at the end of the month:

dr: Accounts received in advance

cr: Main business income