- Original documents attached: Fixed asset depreciation calculation and allocation table January 2016 (See Appendix 03)
- Based on the Fixed Asset Depreciation Calculation and Allocation Table for January 2016, the accounting records
Debit account 641: 1,696,429
Credit account 214: 1,696,429
* On January 30, 2016, salary payable to sales staff was 4,980,000 VND, salary calculation table.
- Original documents attached: Salary and social insurance payment table for January 2016 (See Appendix 03)
- Based on the salary and social insurance payment table of January 2016, the accountant makes the provision
Debit account 641: 4,980,000
Credit account 3343: 4,980,000
* On January 30, 2016, deduct salary amounts according to the prescribed rate in the sales department.
- Original documents attached: Salary and social insurance payment table for January 2016 (See Appendix 03)
- Based on the salary and social insurance payment table of January 2016, the accountant makes the provision
Debit account 641: 99,600
Credit account 3382: 99,600
Total sales expenses incurred in the first quarter of 2016 were VND 23,691,878.
Transfer of sales expenses Debit account 911: 23,691,878
Credit account 641: 23,691,878
e. Accounting books
* Basis for recording
Daily based on original documents (fixed asset depreciation table, tool allocation table,...). According to the set recording order, the data will be automatically updated.
Enter into general journal account 641, ledger account 641 and related books. At the end of the period, transfer to account 911 to determine business results.
- Detailed book of account 641 - Sales expenses (See Appendix 03)
- Ledger account 641 (See Appendix 03)
* Comment
The company's selling expenses are mainly expenses such as: loading and unloading costs, transporting goods to customers, maintenance and repair costs for machinery and equipment serving the sales department, advertising, electricity and water, business expenses, salaries of sales department staff, etc.
Regarding the implementation of accounting regime: information on the fixed asset depreciation table, tool and equipment allocation table, salary and social insurance allocation table must be legal, valid, and in accordance with the prescribed form.
Regarding accounting organization: perform general journal entry, ledger entry, detailed account 641
3.2.1.5 Business management cost accounting
a. Summary table of business management costs and bookkeeping procedures
Table 3.5: Summary of business management costs
Expense | Amount | |
1 | Pay phone bill according to contract 227971+227972 | 295,212 |
2 | Pay electricity bill according to contract 19960+19961 | 125,280 |
3 | Water bill payment according to contract 5524+5523 | 281,467 |
4 | Pay the seller ICB Trading Company Limited | 27,500 |
5 | Pay the seller TVP Steel Joint Stock Company | 16,500 |
6 | Allocation of tools and equipment | 351,503 |
7 | Allocation of tools and equipment | 58,333 |
8 | Pay the seller Nguyen Hai Company Limited | 27,500 |
9 | Pay phone bill according to contract 145016+145015 | 329,518 |
10 | Pay electricity bill according to contract 153456+153457 | 64,960 |
11 | Water bill payment according to contract 114840+114841 | 308,000 |
Other | 7,828,850 | |
TOTAL | 9,260,787 |
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Source: Accounting Department of Thanh Son Company Limited
Production and business cost book account 642
VAT invoice, receipt, credit note,...
Ledger account 642
* Bookkeeping process
General Journal
Summary table of management costs
Balance sheet of arising numbers
Financial report
Note:
Daily Record
Record at the end of the month or periodically Check and reconcile
b. Documents used
+ VAT invoice
+ Payment voucher
+ Debt notice
+ Salary payment table
+ Fixed asset allocation table
c. User account
Account 642 – business management expenses
d. Some typical operations
* On May 1, 2016, paid for phone usage in December 2015 according to VAT invoice number 0227971 and 0227972, code CT/15P, electricity, unit price excluding tax
295,212 VND, VAT 10%, the company paid in cash, payment voucher No. 01.
- Original documents attached: VAT invoice No. 0227971, No. 0227972, payment voucher No. 01 (See Appendix 04).
- Based on VAT invoice No. 0227971, No. 022792, payment voucher No. 01. Accounting for entries
: | 295,212 |
: | 29,522 |
: | 324,734 |
Debit account 642
Have account 133
Have account 1111
* On January 23, 2016, paid for goods to ICB Trading Company Limited, according to invoice number 0000001, amount 27,500 . The company paid by bank transfer.
- Original documents attached: Payment order No. 011 (See Appendix No. 04)
- Based on payment order number 011, accountant records debit account 642: 27,500
Credit account 1121: 27,500
* On January 28, 2016, paid for goods to TVP Steel Joint Stock Company, according to invoice number 0000012, amount 16,500 . The company paid by bank transfer.
- Original documents attached: Payment order No. 16 (See Appendix No. 04)
- Based on payment order number 016, accountant records debit account 642: 16,500
Credit account 1121: 16,500
Total business management costs incurred in the first quarter of 2016 were VND 9,260,787.
Transfer of business management expenses Debit account 911: 9,260,787
Credit account 642: 9,260,787
e. Accounting books
* Basis for recording
Daily based on original documents (VAT invoices, payment vouchers, salary payment tables, fixed asset allocation tables, etc.). According to the set recording order, the data will be automatically updated in the general journal account 642, ledger account 642 and related books. At the end of the period, transfer to account 911 to determine business results.
- Detailed book of account 641 - Business management costs (See Appendix 04)
- Ledger account 641 (See Appendix No. 04)
* Comment
The company's business management costs include: purchasing office supplies, reception costs, salary costs for office staff, etc.
Regarding the implementation of accounting regime: information on VAT invoices, payment vouchers, salary and social insurance allocation tables must be legal, valid, and in accordance with the prescribed book form.
Regarding accounting organization: perform general journal entry, ledger entry, detailed account 642 book entry .
3.2.2 Financial revenue accounting
a. Summary of financial revenues and recording procedures
Table 3.6: Summary of financial revenue
Target | Amount | |
1 | Interest income | 4.801 |
2 | Interest income | 3..317 |
3 | Interest income | 3.243 |
TOTAL | 11,361 |
Source: Accounting Department of Thanh Son Company Limited
Account detail book 515
Receipt, payment slip, etc.
Ledger account 515
Balance sheet of arising numbers
Financial report
* Bookkeeping process
General Journal
Summary table of revenue of HĐTC
Note:
Daily Record
Record at the end of the month or periodically Check and reconcile
b. Documents used
+ Bank statement
+ Interest statement
c. User account
Account 515 - Financial activity revenue
d. Some typical operations
* On January 30, 2016, the company received a notice from Sacombank with document number 0000001 regarding the collection of interest on deposits in January 2016 with the amount of 6,511 VND.
- Original documents attached: Notice dated January 31, 2016 (See Appendix No. 05)
- Based on the notice dated January 31, 2016, the accountant made a debit entry to account 112: 6,511.
Credit account 515: 6,511
* On February 29, 2016, the company received a notice from Sacombank with document number 0000001 regarding the collection of interest on deposits in February 2016 with the amount of VND 5,647.
- Original documents attached: Notice dated February 29, 2016 (See Appendix No. 05)
- Based on the notice dated February 29, 2016, the accountant records the Debit account 112: 5,647
Credit account 515: 5,647
* On March 31, 2016, the company received a notice from Sacombank with document number 0000001 regarding the collection of interest on deposits in March 2016 with the amount of 3,591 VND.
- Original documents attached: notice dated March 31, 2016 (See Appendix No. 05)
- Based on the notice dated March 31, 2016, the accountant records the Debit account 112: 3,591
Credit account 515: 3,591
Total financial revenue generated in the first quarter of 2016 was 15,749 VND
Transfer of financial activity revenue Debit account 515: 15,749
Credit account 911: 15,749
e. Accounting books
* Basis for recording
Based on the bank's credit note on the interest amount, the accountant enters the data into the computer and records it in financial revenue, then the software automatically updates the general journal account 515, ledger account 515. At the end of the period, transfer to account 911 to determine business results.
- Detailed book of account 515 - Financial activity revenue (See Appendix No. 05)
- Ledger account 515 (See Appendix No. 05)
* Comment
The company's financial revenue is mainly from bank interest income.
Regarding the implementation of accounting regime: information on the notice is legal, valid, and in accordance with the prescribed book form.
Regarding accounting organization: perform general journal entry, ledger entry, detailed account book 515.
3.2.3 General accounting determines business results
* Transfer net revenue to account 911 to determine business results Debit account 511 410,111,728
Credit account 911 410,111,728
* Transfer financial activity revenue to account 911 to determine business results.
Debit account 515 15,749
Credit account 911 15,749
* Transfer cost of goods sold to account 911 to determine business results Debit account 911 351,055,229
Credit account 632 351,055,229
* Transfer selling expenses to account 911 to determine business results Debit account 911 23,691,878
Credit account 641 23,691,878
* Transfer business management costs to account 911 to determine business results.
Debit account 911 9,260,787
Credit account 642 9,260,787
* Business results
Total credit of account 911 – Total debit of account 911 410,127,477 – 384,007,894 = 26,119,583
* Corporate income tax payable: 26,119,583 x 20% = 5,223,917
Debit account 821 5,223,917
Credit account 3334 5,223,917
* Transfer corporate income tax expenses to account 911 to determine business results
Debit account 911 5,223,917
Credit account 821 5,223,917
* Actual profit transfer: 26,119,583 x 80% = 20,895,666
* Transfer actual profit to account 911 to determine business results Debit account 911 20,895,666
Credit account 421 20,895,666