TECHCONS CONSTRUCTION JOINT STOCK COMPANY
345/134 Tran Hung Dao, Cau Kho Ward, District 1, HCMC
DIRECT WORKER TIME SHEET
Construction team: Le Thanh Tung
STT
Full name | Grant step | January 1, 2016 - 12/01/2016 | Total labour | wage | Increase song | Total amount | Sign receive | ||||||
1 | 2 | 3 | ... | 11 | 12 | ||||||||
1 | Nguyen Van Eight | Worker | X | X | X | X | X | 11 | 250,000 | 2,750,000 | |||
2 | Nguyen Van Wind | Worker | X | X | X | N | X | 7 | 250,000 | 1,750,000 | |||
3 | Nguyen Quoc Tuan | Worker | N | X | X | ... | 0.5 | X | 5 | 250,000 | 1,250,000 | ||
... | .... | ... | ... | ... | .. | ... | ... | ... | |||||
8 | Le Van Son | Worker | N | N | X | ... . | X | X | 5 | 266,000 | 1,330,000 | ||
Total | 180 | 10,080,000 | |||||||||||
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Explain:
- X: Counted as one working day
- 0.5: Calculated as half a working day
- N: Workers on leave
TECHCONS CONSTRUCTION JOINT STOCK COMPANY
345/134 Tran Hung Dao, Cau Kho Ward, District 1, HCMC
(EXCERPT) ACCOUNT DETAILS BOOK
From 01/01/2016 to 31/03/2016
Account: 622 _CT_VP1811
Van Phuc 1 townhouse project_Lot O55 to O60
Document date
Document number | Interpretation | TK DU | Number of occurrences | ||
In debt | Have | ||||
….. | … | … | … | …. | |
January 31, 2016 | NVK00087 | Labor cost for Van Phuc 1 project (Daily wage hired by Mr. Tung: January 2, 2016 to January 30, 2016) | 334 | 92,067,900 | |
January 31, 2016 | NVK00095 | Labor costs for Van Phuc 1 project (Mr. Quan's team: January 2, 2016 to January 31, 2016) | 334 | 80,779,500 | |
…. | …. | … | |||
March 23, 2016 | NVK00107 | Labor cost for Van Phuc 1 project (Daily wage hired by Mr. Tung: March 11, 2016 to March 22, 2016) | 334 | 10,080,000 | |
March 31, 2016 | KC00014 | Transfer of CPNVLTT | 154CT_VP1811 | 820,732,500 | |
Add | 820,732,500 | 820,732,500 | |||
Bookkeeping Chief Accountant
March 31, 2016
Manager
TECHCONS CONSTRUCTION JOINT STOCK COMPANY
345/134 Tran Hung Dao, Cau Kho Ward, District 1, HCMC
ACCOUNT LEADERS
From 01/01/2016 to 31/03/2016
Account: 622_Direct labor costs
Document date
Document number | Interpretation | TK DU | Number of occurrences | ||
In debt | Have | ||||
….. | …… | ……… | ……. | ….. | |
January 31, 2016 | NVK00095 | Labor costs for Van Phuc 1 project (Mr. Quan's team: January 2, 2016 to January 31, 2016) | 334 | 80,779,500 | |
February 8, 2016 | NVK00096 | Construction labor cost for 25th floor - Time Square (Painting team _A. Ngoc) | 334 | 41,600,000 | |
…. | … | …… | …. | …. | |
February 15, 2016 | NVK00106 | Labor cost of Van Phuc 1 project (Daily wage hired by Mr. Tung: February 1, 2016 - February 12, 2016) | 334 | 34,750,000 | |
March 23, 2016 | NVK00107 | Labor cost for Van Phuc 1 project (Daily wage hired by Mr. Tung: March 11, 2016 to March 22, 2016) | 334 | 10,080,000 | |
… | …. | …… | ….. | …. | |
March 31, 2016 | KC00014 | Transfer of CPNVLTT | 154CT_VP1811 | 820,732,500 | |
…. | … | …… | …. | …. | |
Add | 1,746,868,500 | 1,746,868,500 | |||
Bookkeeping Accountant Chief Accountant Director
4.5.3. General manufacturing cost accounting
Production costs incurred include costs related to management activities in the construction team such as management staff salaries, depreciation of fixed assets and other related costs.
In principle, the production costs arising directly related to a project are directly accounted for in that project; due to the characteristics of the construction enterprise, most of the production costs arising will be related to each project and HMCT. The costs related to many projects are aggregated by the accountant and at the end of the period, allocated according to direct labor costs.
To collect general production costs incurred during the period, Techcons Construction Joint Stock Company's accountants use account 627. This account is detailed into the following 6 level 2 accounts:
- Account 6271 – Construction team management staff costs
- Account 6272 – Material costs
- Account 6273 – Production tool costs
- Account 6274 – Fixed asset depreciation expense
- Account 6277 – Outsourced service costs
- Account 6278 – Other cash expenses
Like accounts 621 and 622, for ease of monitoring, account 627 is also opened in detail for each project and project item such as:
- Account 6271_CT_VP1811
- Account 6272_CT_VP1811
- ……….
Documents used: Warehouse delivery note, salary payment table, fixed asset depreciation table, VAT invoice...
For example, some arising transactions are as follows:
* Collection of general production costs related to management staff salaries (Account 6271):
Management staff costs include salaries and salary deductions. Similar to direct labor costs, after receiving the timesheet and other relevant documents, the accountant will prepare a "Salary Payment Table" and "Salary and Social Insurance Allocation Table". Then submit it to the company director for approval of salary payment.
Example 1: From the timesheet, salary payment sheet, salary allocation sheet and social insurance for January 2016, the total payment cost for management staff is 98,459,324.
Of which, management salary is 82,800,274 and social insurance, health insurance, and unemployment insurance deductions paid by the company are 6,658,960.
(excerpt) Table of Social Insurance, Health Insurance, Unemployment Insurance January 2016
(26 full working days, 1 day off)
Full name
Basic salary | Lunch allowance | Insurance premiums covered by the company | ||||
Social insurance (18%) | Health insurance (3%) | Social Insurance (1%) | Total | |||
Trinh Thanh Tam | 4,300,000 | 576,932 | 774,000 | 129,000 | 43,000 | 946,000 |
Le Thanh Tung | 4,300,000 | 576,932 | 774,000 | 129,000 | 43,000 | 946,000 |
Ly Thanh Tung | 4,030,000 | 576,932 | 725,400 | 120,900 | 40,300 | 886,600 |
Nguyen Xuan Thanh | 3,690,000 | 576,932 | 664,200 | 110,700 | 36,900 | 811,800 |
Ha Duy Phuong | 3,690,000 | 576,932 | 664,200 | 110,700 | 36,900 | 811,800 |
Bui Van Binh | 3,545,000 | 576,932 | 638,100 | 106,350 | 35,450 | 779,900 |
Nguyen Tri Thuc | 3,545,000 | 576,932 | 638,100 | 106,350 | 35,450 | 779,900 |
Van Phu Viet | 3,168,000 | 576,932 | 570,240 | 95,040 | 31,680 | 696,960 |
30,268,000 | 4,615,456 | 5,448,240 | 908.040 | 302,680 | 6,658,960 | |
For CPSXC used for many projects like this, the accountant will summarize and allocate according to NCTT costs. However, most of the costs incurred are incurred by objects, so the accountant will summarize according to each specific object:
Example 2: For costs incurred separately at the construction site such as: Salary for construction supervisor of Van Phuc 1 lot O55 - O60 in January 2015 is 18,000,000, tracked under detailed account 6271_CT_VP1811.
* Material cost accounting: 6272
The steps for collecting and entering material costs and tool costs for general production are similar to accounting for collecting direct material costs. These expenses often arise in relation to a specific CT or HMCT, so they should be accounted for in detail for each CT or HMCT.
* Accounting for production equipment costs: 6273
Example 3: On January 2, 2016, purchased protective clothing, hats, shoes, and gloves for the Van Phuc 1 housing project, lot O55-O60, for VND 30,439,900 excluding VAT from Bao Thinh Phat Production Trading Service Co., Ltd., according to Contract No. 0000178, tax 10%.
→ Record into tool and equipment costs: 6273_CT_VP1811.
BAO THINH PHAT PRODUCTION TRADING SERVICES COMPANY LIMITED
Model No.: 01GTKT3/001
Symbol: AA/16P Number: 0000178
INVOICE (VAT) – VAT INVOICE
Sheet 2 : Delivered to Customer Date : January 2, 2016
Account No :
Bank : Vietinbank Go Vap branch
Wholesaler name : Techcons Construction Joint Stock Company
Address : 345/134 Tran Hung Dao, Cau Kho Ward, District 1, Ho Chi Minh City Tax code : Payment method: TM/CK
TT
INTERPRETATION | Unit | Quantity | Unit price | Total amount | |
1 | Protective clothing | Female | 100 | 104,560 | 10,456,000 |
2 | Hat | Female | 100 | 35,360 | 3,536,000 |
3 | Glove | Pair | 100 | 9,690 | 969,000 |
4 | Shoe | Pair | 100 | 154,789 | 15,478,900 |
Sub – total : VAT rate : 10% VAT amount : Total payment amount (Total) : | 30,439,900 | ||||
3,043,990 | |||||
33,483,890 | |||||
Total amount payable in words : Thirty-three million four hundred eighty-three thousand eight hundred and ninety dong. /. | 33,483,890 | ||||
Buyer Salesperson Unit Head
* General production costs related to fixed asset depreciation (Account 6274)
Depreciation of fixed assets at the production team is usually for assets used for management work at the construction site such as depreciation of computers, printers... of the team. The software program allows calculating depreciation by the straight-line method:
Original price of fixed assets Estimated useful life
Depreciation rate =
For example: According to related documents, the general accountant has the depreciation amount of fixed assets managed for Van Phuc 1 housing project, lot O55-O60, January 2016:
FIXED ASSET DEPRECIATION TABLE
TT
Name of fixed asset | … | Parts used | Original price | Number of years of history use | Annual depreciation | Depreciation amount in period | |
1 | Car | … | Construction team CT_VP1811 | 750,000,000 | 8 | 93,750,000 | 7,812,500 |
2 | Excavator | … | Construction team CT_VP1811 | 350,000,000 | 6 | 17,500,000 | 4,861,111 |
… | … | … | … | ||||
Add | 15,037,222 | ||||||
* Cost of outsourced services (Account 6277):
Outsourced service costs incurred by the construction team include water bills, telephone subscriptions, monthly telephone bills, photocopying, document purchases, etc.
When there are expenses for purchased services, the accountant will record them according to the following entry: Debit account 6277/ Credit related account .
Example 4: On January 30, 2016, payment of electricity bill from December 27, 2015 to January 27, 2016 at Van Phuc project, lot O55 - O60 is 1,784,980 VND excluding VAT. → Record the cost in account 6277_CT_VP1811.
* Other cash expenses (Account 6278):
Other cash expenses are collected in account 6278, including other general expenses other than the above expenses such as: Guest reception expenses, Construction site service expenses ...................