in daily life, for first-time buyers, in addition to the corresponding house payment, they also need to pay a certain proportion of special maintenance funds for the maintenance of public facilities. The following are the contents of accounting entries for special maintenance funds. Let's learn about them together.

accounting entries of special maintenance fund

maintenance fund should be included in management expense accounting:

borrowing: management expense

lending: bank deposit

accounting entries of commercial housing maintenance fund

1. collecting maintenance fund of buyers:

borrowing: bank deposit

lending: other payables-housing maintenance fund

2.

the special maintenance fund refers to the fund that the owners of residential properties pay a certain amount of money to a special account for the maintenance of public parts and facilities and equipment used in this property area, and authorize the owners' committee to manage and use it in a unified way.

the special maintenance fund is jointly raised by the owners of the property. For the owners, they enjoy the ownership of the maintenance fund in proportion, but the right to use it belongs to all the owners. A single owner may not withdraw all the maintenance funds from the bank.