Accounting method:
Diagram 1.1. Accounting for sales revenue and service provision
Account 333
Account 511
Account 111,112,131,…
Export tax, special consumption tax payable to the State budget, VAT payable (units applying the direct method)
Account 5211, 5212, 5213
End of period trade discount, returned goods revenue, sales discounts
sales during the period
Account 911
End of period net revenue
Sales and service revenue, internal revenue
arising. Unit paying VAT by direct method
(Total cost)
Sales and service revenue, internal revenue generated. VAT paying unit
by deduction method (Price excluding VAT)
Account 333 (33311)
Output VAT payable
Trade discounts, sales returns, or sales allowances arising during the period
Figure 1.2. Accounting for sales through agents
Account 5111
Account 111,112,131… Account 6421
Commission payable to
Dealer sales revenue
consignee
Account 333 (33311)
VAT
VAT
TK 133
Diagram 1.3. Accounting for sales using installment payment method
Sales revenue
(Recorded at cash price)
Total remaining amount
Customer Service
Account 333 (33311)
Output VAT
Account 111,112
Account 515
Account 338 (3387)
Periodic revenue is interest payable.
Periodic revenue
Amount collected from customers
Installment interest or deferred interest receivable
of the customer
must be
Account 511 Account 131
Customers export materials to pay the business
TK 133
Input VAT
Diagram 1.4. Accounting for sales by barter method
Sales revenue in exchange for goods and materials
Account 3331
Output VAT
Account 511
Account 131 Account 152,153, 156 …
Amount received (received goods are less than exchanged goods)
Account 111,112
Additional amount
(If any) to receive the goods
Account 111,112
1.4.1.2. Accounting for financial activity revenue
Documents used:
- Bank credit note, debit note.
- Receipt, payment voucher.
- Loan contracts.
Account used:
Account 515 – Financial activity revenue
Content : This account is used to reflect revenue from interest, royalties, dividends, shared profits, foreign exchange rate differences and other financial revenue of the enterprise. This account has no ending balance.
Debit 515 Credit
- VAT payable calculated by direct method (if any)
- Transfer net financial revenue to account 911 to determine business results.
- Interest, dividends and profits shared - Exchange rate gains arising during the period of business activities - Exchange rate gain arising during the period when selling foreign currency - Profit from sale of investments in subsidiaries, associates, etc. - Exchange rate gain due to year-end revaluation of foreign currency items of business activities - Carry forward or allocate exchange rate gains from completed construction investment activities (pre-operational period) into financial revenue activities - Other financial revenue arising during the period. | |
Total debt incurred | Total number of occurrences |
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Diagram 1.5. Accounting for financial activity revenue
Account 3331
VAT payable under direct method (if any)
Periodically collect interest or determine the amount of interest receivable from investing in stocks and bonds
Payment discount enjoyed
Account 911
Profit from sale of short-term and long-term investment securities
TK 121, 221
Cost of goods sold
Gain on sale of investments
subsidiary, affiliate
Account 221
Cost of goods sold
Account 338 (3387)
Periodically calculate interest on sales on installments
Account 138
Unearned Dividends
Account 221
Additional dividends and profits
Financial investment capital
Account 515
T K111,112,138 (1388)
Financial revenue
1.4.1.3. Other income accounting
Documents used:
-Value Added Tax Invoice
- Payment documents: Receipts, bank credit notes...
- Other related documents: minutes of liquidation of economic contracts, fixed assets...
Account used:
Account 711 – “Other income”
Content : This account is used to reflect other income and revenue outside of the business's production and business activities . Account 711 has no ending balance.
Debit 71 1 Credit
- The amount of VAT payable (if any) according to the direct method for other income items at enterprises paying VAT calculated according to the direct method - At the end of the period, transfer other income arising during the period to account 911 - Determine business results | Other income arising during the period |
Total debt incurred | Total number of occurrences |
Accounting method
Account 333 (3331)
Diagram 1.6. Other income accounting
Account 711
Account 111,112,113..
VAT payable by direct method of other income
Income from liquidation and sale of fixed assets
Account 333 (33311 )
VAT Must
submit
Account 331,338
Account 911
End of period Other income arising during the period
Payables with unidentified creditors, decision to delete records
into other income
Account 338,334
Penalty deducted from the deposit of the depositor
TK111,112
-When collecting bad debts that have been written off
- Collect insurance money from the compensated insurance company
Sponsored, donated goods, fixed assets
Account 152,156,211
private,
Account 352
When the warranty period expires, if the project
No warranty or provision for construction warranty > actual cost incurred
must be re-entered
Account 111,112
Export tax refunds and special consumption tax are included in other income.
1.4.1.4. Accounting for revenue deductions
Documents used:
-Value Added Tax Invoice, regular sales invoice.
- Payment documents: Payment vouchers, bank debt notices...
- Other related documents: Returned goods receipt.
Account used:
According to Decision No. 48 on small and medium enterprise regime
Account 521 “Revenue deductions.”
- Account 5211: Trade discount
- Account 5212: Returned goods
- Account 5213: Sales discount
Content : This account is used to reflect the total amount of discounts for buyers that are deducted from business revenue. Revenue deductions reflected in account 521 include: Trade discounts, value of returned goods and discounts for buyers during the accounting period:
- Trade discount is the amount of money a business reduces the listed price for customers who buy in large quantities.
- The value of returned goods is the value of the volume of goods determined to have been sold but returned by the customer and refused to pay.
- Sales discount is a deduction for the buyer due to poor quality goods, goods that do not meet the specifications specified in the economic contract or are out of date.
This account has no ending balance.
Debit 521 Credit
-The amount of trade discounts accepted for payment to customers
- Revenue from returned goods, refunded to buyers or deducted from customer receivables for products and goods sold.
- Discounts on sales approved for buyers due to poor quality, degraded or incorrect specifications of goods sold according to the provisions of the economic contract.
At the end of the accounting period, transfer all trade discounts, sales discounts, and sales returns to Account 511 "Sales and service revenue" to determine net revenue of the reporting period. | |
Total debt incurred | Total number of occurrences |
Method of accounting for revenue deductions
Diagram 1.7. Accounting for trade discounts, sales discounts, and sales returns
Unit of VAT calculation by deduction method
TK111,112,131
Account 521 Account 511
.
CKTM, GGHB,
HBBTL arises
At the end of the period, pay off the trade receivables, GGHB, HBBTL
arising during the period
Account 333 (3331)
VAT
Account 111,112
Account 6421
Costs incurred in connection with returned goods
Finished products and goods sold are returned to the warehouse.
Account 155, 156
Account 632