Accounting transactions of the social fund account in the double entry bookkeeping
Social fund account in the double entry bookkeeping: select accounting transactions..
Social fund booking is not a routine accounting operations. Therefore, we have selected the most important accounting operations that are relevant for the accountants and in the accounting practice.
The overview should guarantee a smooth and proper accounting of the social fund. Among the cases that we have prepared are: creation of social fund account, mandatory annual allocation, use of social fund, financial assistance granted to employees for recreation, transportation, social assistance, health care, accounting for recreational trips for employees, the transfer of the social fund part, settlement of the liability of the social fund transfer and closure of the account.
| Accounting Transaction | Debit | Credit |
| Opening of the account on 1.1.of the relevant year | 701 | 472 |
| Creation of the social fund: | ||
| - mandatory and other contributions to the social fund (§3 ZSF) | 527 | 472 |
| - additional contributions that co-create the social fund - gifts, grants, contributions made by an employer to the fund (§4 ods.2 ZSF) | 221 | 472 |
| - a contribution to the social fund from the employer's profit (§4 ods.3 ZSF) | 431,428 | 472/AÚ |
| Billing of the mandatory annual contribution from the sum of annual gross wages: | ||
| - advances were lower | 527 | 472 |
| - advances were higher | -527 | -472 |
| Use of the social fund: | ||
| - the reimbursement of meal tickets | 472 | 213 |
| - to pay for the in-house catering | 472 | 602 |
| - granting the loan to the employee from the social fund | 472 | 221,211 |
| - payments received on loans granted from the social fund (the loan is tracked in the off-balance sheet account) | 221,211,331 | 472 |
| The financial contribution granted to employees for recreation, transportation, social assistance, health care: | ||
| - settlement of claim for contribution | 472 | 333 |
| - reduction of taxes from employment unless they are exempt | 333 | 342 |
| - social security | 333 | 336 |
| - payment of taxes from employment | 342 | 221 |
| - payment of social security | 336 | 221 |
| - payment of the allowance after tax | 333 | 221,211 |
| Accounting for recreational trips for employees: | ||
| - invoice from the supplier | 335 | 321 |
| - leisure trip of the employee settled from the social fund | 472 | 335 |
| - income tax from the allowance granted | 331 | 342 |
| - social security from the allowance granted | 331 | 336 |
| Transfer of part of the social fund corresponding to the share of employees transferred to the new employer ( §6 section 4 ZSF) | 472 | 379 |
| Payment of liabilities from the transfer of social fund | 379 | 221 |
| Closure of the account on k 31.12. of the relevant year | 472 | 702 |
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