3.2.3. Some ideas to improve the accounting of goods at the Company.
3.2.3.1. On the use of accounting software
The application of accounting software in accounting management is now very popular in businesses.
Using software helps businesses save time and money. These are two standard factors for the development of any business. Saving means increasing income and speeding up the growth of the business.
Improve efficiency and development for businesses. Accounting software helps improve performance, enhance management capabilities, upgrade or expand management scale quickly and effectively.
Improve and simplify the use of accounting software, helping businesses have an overall view of the business situation. Control and improve the business situation neatly and easily.
When choosing to use a certain accounting software, the first thing a business will consider is whether the software has tax accounting services that are suitable for the size and needs of the business. Based on that criterion, there are currently three software that are considered the most popular in businesses in both trade and services as well as construction, manufacturing, etc., which are: Misa, Fast and LinkQ software.
Misa accounting software:
Misa software is a solution for small and medium enterprises, it is applied in the following cases:
+ Newly established enterprises, commercial enterprises with simple scale, not too complicated management level, or enterprises with higher management requirements and relatively large operating models, or enterprises conducting business in many fields.
+ Misa software has the advantage of being easy to use because the interface of the tax accounting software package is intuitive and user-friendly. Those who are new to the software will also feel comfortable, not complicated, not sore eyes, allowing users to update data flexibly.
+ And another outstanding point of Misa is that the function of saving and recording data is quite fast, this is very important for users, and the data security technology is high because Misa software runs on Sql database and the accuracy in processing calculated data is also very high.
Fast Accounting Software:
This is a solution for businesses of all sizes, from small to large, typically large businesses that need to report on regular management, or construction manufacturing businesses that should use Fast accounting software.
And certainly Fast will also have many advantages such as: the working interface is also very pleasant, always quickly updated with the latest changes in tax policies - provisions, decrees and circulars issued by the Ministry of Finance, closely following current accounting regimes, monthly tax reporting service, data processing - business figures take place quickly, Fast allows users to export reports to Excel with beautifully arranged templates.
LinkQ Accounting Software:
LinkQ is a software built on advanced software programming tools, which is C#.NET, with an integrated SQL Server database based on the Vietnamese Unicode standard font.
LinkQ software also has outstanding advantages, such as:
+ The data information provision model allows users to collect and manage according to the standard diagram: Corporation - member company - branch.
+ Flexible and easy to edit: this allows users to easily declare additional information fields for tracking.
+ Accurately track and account for multiple currencies in parallel.
+ Allows users to work on multiple windows at the same time, quickly move to categories or documents on different subsystems.
+ Software Working interface and reporting in Vietnamese, English, Chinese and other languages, this interface is self-defined by the user.
+ Export data to office suite easily, conveniently export directly via HTTK, iHTKK, TaxOnline.
+ Integrated on many different operating systems such as: Winxp, Win Vista or Win 7
+ Can easily connect to remote data (in case the business has a showroom, the company has branches or subsidiaries...).
3.2.3.2. On completing the inventory book
Applying accounting software will help build a more effective goods list, specifically helping to manage each type of goods to avoid confusion and omissions, and also help unify between the warehouse keeper and the accountant in making lists, import-export-inventory reports. When there is a list book, updating data into the computer and the warehouse keeper's recording will be reduced, more convenient and avoid confusion. The management of goods in the company will be tighter, more unified and more scientific.
To create a product catalog, the most important thing is to create a complete, accurate, and non-duplicated product code set. The company needs to follow these principles:
+ Code goods according to the original classification, build a hierarchical code system, the code consists of many fields in which the leftmost field has the most important characteristics.
+ When necessary, we extend to the right. For example, if the goods have two groups, then for each group name, we add two code digits to the right after the group code until the two types are finished:
156.01: Protective gloves group Including: 156.01.01: Leather gloves
156.01.02: Rubber gloves
….
156.02: Protective helmet group
In which: 156.02.01: Plastic caps with screw knobs 156.02.02: Plastic caps with ventilation holes
….
156.03: Protective clothing group
In which: 156.03.01: Cotton protective clothing 156.03.02: Khaki protective clothing
….
Through research and understanding of the company's products, I see that the company's product catalog can be built as follows:
Table 3.1: Goods list book
GOODS CHECK BOOK
Product group code
List of goods | Name, brand, product specifications | Unit of measure | Note | |
156.01 | Protective gloves group | |||
156.01.01 | Leather gloves | Pair | ||
156.01.02 | Rubber gloves | Pair | ||
….. | ……. | |||
156.02 | Helmet group | |||
156.02.01 | Plastic cap with screw knob | Female | ||
156.02.02 | Plastic hat with ventilation holes | Female | ||
….. | …….. | |||
156.03 | Protective clothing | |||
156.03.01 | Cotton protective clothing | Set | ||
156.03.02 | Khaki protective clothing | Set | ||
….. | ……. |
Maybe you are interested!
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General Comments on Goods Accounting Work at Hai Nam Investment and Development Joint Stock Company. -
Accounting for Cost of Goods Sold at Xuan Truong Hai Transport and Trading Joint Stock Company. -
Completing the organization of accounting for revenue, sales costs and determining business results at Hai Phong Paint Joint Stock Company - 1 -
Organizing Detailed Accounting of Goods in the Enterprise -
Accounting for Cost of Goods Sold at Lac Viet Trading and Transport Services Joint Stock Company
3.2.3.3. Provision for inventory price reduction
In the business conditions under the market mechanism, to limit risks in the production and business process and respect the "prudence" principle of accounting, enterprises need to make provisions for inventory price reduction.
Enterprises should make provisions for inventory price reduction to control the difference in time, without affecting the progress of operations or price differences.
According to the law of the market economy, goods bought and sold are very diverse and rich depending on the needs of use. This year, the price of goods may be higher than last year and vice versa, making it even more difficult to determine business results. I think that setting up a reserve for inventory price reduction is really meaningful for the company, especially when prices are unstable and the types of goods purchased are increasing due to the need to expand business. Setting up a reserve for inventory price reduction will help the company stabilize the value of goods in stock, avoiding shocks from market prices. In addition, setting up a reserve for inventory price reduction sometimes also plays an important role as evidence in accounting and accounting inspection in the company.
The provision for depreciation also has the effect of reducing the accounting period, so the enterprise accumulates a financial resource that would otherwise have been distributed.
This financial resource is temporarily held in the current assets and is used when needed to compensate for actual losses incurred in inventory depreciation. Another advantage is that the provision for depreciation is recorded as an expense that reduces the business's payable income.
The provision for inventory depreciation is established under the following conditions: The provision amount must not exceed the actual profit generated by the company after reversing the provisions set aside from the previous year, and there is evidence that the value of the inventory at the time of preparing the financial statement is usually lower than the price recorded in the accounting books. Before establishing the provision, the company must establish a council to assess the level of inventory depreciation. Based on the situation of depreciation and the actual quantity of inventory, the company determines the provision level for each type of goods.