In case of renting a machine, the documents are "Machine rental contract", "List of machine rental costs" (Form 2.5), "Minutes of liquidation of machine rental contract" (Form 2.5). To collect the cost of using construction machines, the Company uses account 1543 "Cost of using construction machines". From "List of machine rental costs", the accountant proceeds to the General Journal (Form 2.1), from this form 2.1, the accountant takes the data and puts it in the production and business cost book (Account 154309 - Open details for Mr. Thanh's villa project) (Form 2.6).
Sample 2.5:
Address: 5c/123, Luong Khanh Thien, Ngo Quyen, HP
Unit: NAM ANH CONSTRUCTION DESIGN AND CONSULTING JOINT STOCK COMPANYSocialist Republic of Vietnam Independence – Freedom – Happiness |
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Accounting for Direct Labor Costs at Nam Anh Construction Design Consulting Joint Stock Company
MINUTES OF LIQUIDATION OF MACHINE RENTAL CONTRACT
At 4:00 p.m. on September 5, 2010
Based on the contract dated September 3, 2010 between Nam Anh Construction Design Consulting Joint Stock Company (A) and the HA NAM excavator and compactor team ( B) for hiring to demolish the old foundation. Based on the volume of work performed, Party B was confirmed by Party A that the two parties liquidated the contract including:
-Total working hours: 65 hours
-Unit price for 1 working hour: 250,000 VND/hour
Total amount Party A must pay to Party B: 16,227,272 VND
VAT (10%) : 1,622,727.2 ®
Party A has paid to Party B: 17,850,000 (In sec) REPRESENTATIVE OF PARTY A REPRESENTATIVE OF PARTY B
TECHNICAL DEPARTMENT ACCOUNTING DEPARTMENT
Unit: NAM ANH CONSTRUCTION DESIGN AND CONSULTING JOINT STOCK COMPANY
Address: 5c/123, Luong Khanh Thien, Ngo Quyen, HP
LIST OF CONSTRUCTION MACHINERY RENTAL COSTS
Project: Mr. Thanh's Villa
From 01/09/2010 to 31/12/2010
Document
Abstract | Amount | ||||
Number | Day | VAT not included | VAT | Total | |
01 | 01/09 | Rent cranes and presses for construction – Mr. Villa's CT Wall | 45,512,500 | 4,551,250 | 50,063,750 |
146 | 03/09 | Rent excavators, machines ®Dam – Mr. Thanh's Chairman | 16,227,272 | 1,622,727.2 | 17,850,000.2 |
08 | 09/12 | Server rental Construction - Mr. Thanh's Construction Company | 51,233,610 | 5,123,361 | 56,356,970 |
Add | 112,973,382 | 11,297,338.2 | 124,270,720.2 | ||
December 31, 2010
Address: 5c/123, Luong Khanh Thien, Ngo Quyen, HP
Unit: NAM ANH CONSTRUCTION DESIGN AND CONSULTING JOINT STOCK COMPANYForm No. S03b-DN (Issued under Decision No. 48/2006/QD-BTC dated September 14, 2006 of the Minister of Finance) |
PRODUCTION AND BUSINESS COST BOOK
Account: Work in progress
Account 154309: Cost of using construction machinery
Project: Mr. Thanh's Villa
From 01/09/2010 to 31/12/2010
NTGS
Document | Interpretation | TK corresponding | Amount | |||
Number | Day | In debt | Have | |||
01/09 | 01 | 01/09 | Crane rental for construction Mr. Thanh's work | 331 | 45,512,500 | |
03/09 | 146 | 03/09 | Rent excavator, compactor Construction service - BT Mr. Thanh | 141 | 16,227,272 | |
09/12 | 08 | 09/12 | Rent a machine to serve the exam Mr. Thanh's work | 331 | 51,233,610 | |
Add | 112,973,382 | |||||
December 31, 2010
2.2.4.4 . Accounting for general production costs at Nam Anh Construction Design Consulting Joint Stock Company.
Content
The team's general production costs are the costs of the team and the construction site, including:
+ Cost of construction management staff and team management staff including salary, allowances and deductions for social insurance, health insurance, unemployment insurance, and union fees (22% /2010)
+ Social insurance, health insurance, unemployment insurance, and union fees are calculated at the prescribed rate (22%) on the salary of direct production workers (in the list).
+ Cost of tools and equipment
+ Outsourcing service costs
+ Other cash expenses
+ Fixed asset depreciation costs
Documents of use
The company uses documents such as: list of exported tools and equipment, list of social insurance deductions.
User account
To collect general production costs, the company uses account 1547 "General production costs".
a. Construction team management staff costs
Management staff costs include salaries and salary deductions of team managers, team statisticians, etc. For indirect costs in the company, the salary calculation method is to monitor the employee's timekeeping. Therefore, the payment of main salaries, allowances, etc. is made by the company's accounting department based on the timekeeping sheets sent by departments and based on the current state policies on salaries and salary fund allocation of the company.
Every month, based on the timesheet, the company's accounting department calculates salaries and salary deductions for construction team managers. Social insurance, health insurance, and trade union contributions based on the salaries of workers directly involved in production at a project will be calculated directly into the costs of that project. The salary costs of team managers and deductions from team managers will be allocated to projects based on the actual salaries of workers directly involved in production.
Excerpt from October 2010 salary payment table
At the construction team of "Mr. Thanh's Villa Project", there are 3 team managers:
+ Mr. Do Manh Ha Position: Technical officer
+ Mr. Nguyen Thanh Tung Position: Material Manager Table 2.7:
Construction team manager salary table
Project: Mr. Thanh's Villa
October 2010
Status | Full name | Basic salary (VND) | Allowance (VND) | Salary deductions (22%) (VND) | ||||
Social insurance (16%) | Health insurance (3%) | Social Insurance (1%) | KPCĐ (2%) | |||||
1 | Do Manh Ha | 3,800,000 | 300,000 | 608,000 | 114,000 | 38,000 | 76,000 | |
2 | Nguyen Thanh Tung | 2,000,000 | 150,000 | 320,000 | 60,000 | 20,000 | 40,000 | |
Add | 5,800,000 | 450,000 | 928,000 | 174,000 | 58,000 | 116,000 | ||
October 30, 2010
Chief Accountant
b. Cost of tools and equipment
Tools and equipment in the company include hoes, shovels, light bulbs, gloves, etc. Tool costs are recorded in account 1547.
Based on the input purchase value of tools and equipment, decide whether the tool is allocated once or many times.
Specifically, on October 4, the company exported tools such as hoes, shovels, gloves, sneakers, and hats to serve the construction workers of Mr. Thanh's Villa with the amount of: 1,050,000
This tool has a small input value so it should be allocated once and recorded by the accountant when exporting the tool.
Debit account 142: 1,050,000
Credit account 153: 1,050,000
The cost of these used tools and equipment is included in the general production cost as:
Table 2.8:
Debit account 1547: 1,050,000
Credit account 142: 1,050,000
TOOLS AND EQUIPMENT FOR PRODUCTION
STT | Document | Interpretation | Credit account 153/ Debit account | ||
Number | Day | 142 | Total | ||
1 | 4/10 | Export materials and equipment to CT | 1,050,000 | 1,050,000 | |
2 | 10/10 | Export materials and equipment to CT | 186,540 | 186,540 | |
3 | 10/22 | Export materials and equipment to CT | 1,488,300 | 1,488,300 | |
... | ..... | .... | ..... | .... | .... |
6 | October 31 | Export materials and equipment to CT | 582,660 | 582,660 | |
Add | 5,752,800 | 5,752,800 | |||
(Mr. Thanh's Villa Project) Excerpt from October 2010
Chief Accountant Preparer
(Signature, full name) ( Signature, full name)
c. Fixed asset depreciation costs
At Nam Anh Design Consulting Joint Stock Company, fixed asset depreciation costs are collected in account 1547.
The company conducts depreciation using the straight-line method.
average year
KH level= | Original price of fixed assets Number of years of use | Original price of fixed assets | x | KH deduction rate |
Average monthly KH level
= | Average annual KH level 12 (month) |
At the end of the month, based on the depreciation table, the accountant makes the provision.
Debit account 1547: 7,251,040
Credit account 214: 7,251,040
Table 2.9:
FIXED ASSET DEPRECIATION ALLOCATION TABLE
Nam Anh Construction Design Consulting Joint Stock Company October
STT
Name of fixed asset | Credit account 214, debit other accounts | Add | |||
Account 627 CT VKSHA | Account 627 CT BTOT | TK627 CT…. | |||
1 | Machine tool | 1,936,000 | 651,000 | …. | 2,587,000 |
2 | Management equipment | 680,000 | 209,000 | 889,000 | |
…… | … | ||||
Ceng | 3,616,000 | 1,860,000 | 7,251,040 | ||
d. Outsourced service costs
Outsourced service costs incurred by construction teams include electricity, water, telephone, photocopying, etc.
To collect the costs of outsourced services arising from the activities of construction teams, accountants use account 15477 "Outsourced service costs". This account is opened in detail for each project and project item.
At the end of the month, the construction team leader collects payment invoices with service providers and a list of payment contracts for the company's accounting department.
After checking the legality and reasonableness of these documents, the accountant makes the following entries (October data):
Sample 2.6:
For example:
List of retail goods and services
(October 18, 2010)
Code:
Business name: Manh Diep Store
Address: No. 153 Luong Khanh Thien, Ngo Quyen, HP
Seller's name:..........................................................................................
Address of place of sale:......................................................................................................
STT
Product name, Service | Unit calculate | Quantity | Unit price | Total amount | |
A | B | C | 1 | 2 | 3 |
tobacco tree travel tea Thai Nguyen lighter | Female kg tree | 2 2 5 | 160,000 60,000 1,500 | 320,000 120,000 7,500 |
Total payment: 447,500
Total amount (in words): Four hundred forty seven thousand five hundred Dong./.
e. Other cash expenses