How to do tourism accounting

Accounting involves: the balance of travel expenses paid to other travel companies and accommodation fees, catering fees, transportation fees, visa fees and entrance fees charged to the buyers of travel services and paid to other units or individuals is sales.

In the latest camp reform, it is stipulated that:

When the pilot taxpayers provide tourism services, they can choose to deduct the tourism expenses paid to other tourism enterprises and the accommodation fees, catering fees, transportation fees, visa fees and admission fees charged to the buyers of tourism services from the total price and extra-price fees obtained as sales.

Its accounting treatment

(A) the general taxpayer differential tax accounting

According to the Notice on Printing and Distributing the Provisions on Accounting Treatment of Pilot Enterprises with Business Tax Changed to Value-added Tax, if the relevant expenses are allowed to be deducted from sales, which is used to record the output tax reduced by enterprises due to sales deduction, a column of "Output Tax Deduction" should be added under the subject of "Taxes payable-VAT payable"; When accepting taxable services, enterprises are allowed to deduct sales and reduce output tax according to regulations. The entries are as follows:

Debit: tax payable-value-added tax payable (output tax deduction) [the difference between the actual amount paid or payable and the above-mentioned value-added tax]

Main business cost [actual paid or payable amount]

Loans: bank deposits/accounts payable

Suppose company A is a general taxpayer, and the sales including tax should be divided into 6%.

1. Accounting treatment when obtaining tourism service income

Debit: bank deposit

Loan: income from main business

Taxes payable-VAT payable (output tax)

2. Accounting treatment when paying B company's tourism service subcontract:

Debit: main business cost

Taxes payable-VAT payable (output tax deduction)

Loans: bank deposits

3. Accounting treatment of accommodation fee, catering fee, transportation fee and admission fee:

Debit: main business cost

Taxes payable-VAT payable (output tax deduction)

Loans: bank deposits

Extended data:

I. Formulas and tax rates

For the difference tax that the pilot taxpayers choose to provide tourism services, except the expenses deducted from the sales, other qualified input taxes can still be deducted.

Sales amount taxed on tourism difference = total price and extra expenses-travel expenses paid to other travel companies and accommodation, catering, transportation, visas and tickets paid to other units or individuals from buyers of travel services.

Current output tax = sales ÷( 1+6%)×6%

VAT payable by small-scale taxpayers = sales ÷( 1+3%)×3%

Second, the invoice issued

Among them, the pilot taxpayers who choose the differential tax method to calculate sales may not issue special VAT invoices for the above fees collected and remitted by the buyers of tourism services, but may issue ordinary VAT invoices.

In the latest announcement of the pilot reform of the camp, it is stipulated that: "If the differential taxation method is applied to pay the value-added tax according to the current policy, and the full value-added tax invoice is not allowed (unless otherwise stipulated by the Ministry of Finance and State Taxation Administration of The People's Republic of China), when the taxpayer issues the value-added tax invoice by himself or the tax authority issues it on his behalf, the tax-included sales amount (or tax-included assessment amount) and deduction amount will be input through the differential taxation invoicing function in the new system, and the tax amount and tax-excluded amount will be automatically calculated by the system, and the words" differential taxation "will be automatically printed in the remarks column.

References:

Baidu Encyclopedia-Tourism Enterprise Accounting