The money collected and paid on behalf of the bank shall be paid after deducting the bank SMS fee and handling fee. How to enter?

Accounting entries when withholding from wages:

Debit: Payable staff salaries, loan: Payable taxes-Payable personal income tax.

Debit: Payable to employees, and loan: Other payables-personal income tax.

Accounting entries when paying individual tax:

Taxes payable on loans-personal income tax payable, loans: bank deposits.

Withholding fee is the income obtained by an enterprise after providing certain services. As long as the enterprise normally performs the obligation of withholding and remitting, it can obtain economic benefits.

Moreover, because the proportion of formalities income is certain and the economic benefits can be measured, it conforms to the principle of confirming labor income. Based on this, the enterprise should record the fee income as "other business income" instead of "non-business income". Accordingly, the expenses related to withholding and payment and the incentive expenses for agents should also be recorded as "other business expenses".

Extended data

Article 13

The tax withheld by the withholding agent every month shall be turned over to the state treasury within 7 days of the following month, and the withholding individual income tax report form, the tax withholding certificate, the personal income payment list including the name, unit, position, income and tax payment of each taxpayer and other relevant materials required by the tax authorities shall be submitted to the competent tax authorities.

If the withholding agent fails to submit or submit false tax information in violation of the above provisions, once verified, the amount paid to the individual that is not reflected in the Personal Income Payment Schedule shall not be deducted as a cost when calculating the taxable income of the withholding agent.

Article 14

If the withholding agent fails to submit the Declaration Form for Withholding and Paying Individual Income Tax and other relevant materials on schedule due to special difficulties, it may postpone the declaration with the approval of the tax authorities at the county level.

Baidu Encyclopedia-Interim Measures for Withholding and Paying Individual Income Tax