Accounting Entries For Recurrent Expenditure

It is carried out by setting a two-level account of "fund expenditure - recurrent expenditure", and a subsidiary ledger is set under the two-level account according to the "item" and "section" level expenditure accounts uniformly stipulated by the financial department. When expenses are incurred: Debit: expenditure - recurrent expenditure Credit: bank deposit or cash When expenses are recovered or written off and transferred out: Debit: related accounts Credit: expenditure - recurrent expenditure After the year-end closing, there is no balance in the account of "expenditure - recurrent expenditure".