Structure:
+ Debtor:
- Value of trade discount transferred at the end of the period
- Value of returned goods transferred at the end of the period
- Value of sales discount transferred to end of period
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- The amount of special consumption tax, export tax, and VAT calculated by the direct method payable is calculated on the revenue from sales of goods, products, and provision of services during the period.
- Transfer net revenue to account 911 to determine business results.
+ The side has:
- Total revenue from sales of products, goods and provision of services of the enterprise during the accounting period
Account 511 has no ending balance. Account 511 has 5 sub-accounts as follows:
- 5111: Sales revenue
- 5112: Product sales revenue
- 5113: Service revenue
- 5114: Subsidy and subsidy revenue
- 5117: Revenue from investment real estate business
- Account 512 - Internal revenue: Used to reflect revenue from products, goods and services consumed internally within enterprises. Internal revenue is the amount of money received from selling goods, products, and providing internal consumption services between affiliated units within the same company, corporation, etc.
Structure:
+ Debtor:
- Value of trade discounts, sales returns, sales allowances transferred to the end of the period
- The amount of special consumption tax and VAT calculated by the direct method payable is calculated on the revenue from sales of goods, products, and provision of services determined as internal consumption during the period.
- Transfer internal sales revenue to account 911 to determine business results.
+ The side has:
- Total internal sales revenue generated during the accounting period. Account 521 has no ending balance and has 3 sub-accounts as follows:
- 5211: Internal sales revenue
- 5212: Revenue from sales of internal products
- 5213: Revenue from providing internal services
- Account 3387 - Unearned revenue: reflects the difference between goods sold on deferred payment or installment payment as committed and the immediate selling price.
1.3.1.3.Accounting method:
333 511,512 111,112,131
Special consumption tax, export tax, tax
VAT (direct) payable
Revenue from sales of products, goods,
service
531,532
3331
152,153,156
Carryover of sales discounts,
returned goods
131
521
Sell by method
barter
upon receipt
row
133
Discount transfer
commerce
911
3387
111,112
Revenue transfer
pure
Revenue allocation not yet Revenue not yet yet
perform
perform
3331
Diagram 1.1: General accounting of sales revenue
1.3.2. Accounting for revenue deductions.
Revenue deductions include: Trade discounts, returned goods, sales discounts, export taxes, VAT by direct method.
1.3.2.1. Documents used:
- VAT invoice
- Payment voucher
- Import form
- Notice of receipt
- Other relevant documents
1.3.2.2.User account:
- TK521-Trade discount: used to reflect the trade discount that the enterprise has deducted for buyers arising during the period.
Structure:
+Debtor:
- The amount of trade discounts accepted for payment to customers arising during the period
+The side has:
- At the end of the period, transfer the trade discount to account 511 to calculate net revenue in the accounting period.
Account 521 has no ending balance.
- TK531 - Returned goods: used to reflect the value of products and goods returned by customers (calculated according to the correct unit price stated on the invoice)
Other costs related to returned goods that the enterprise must pay are reflected in account 641 - selling expenses.
In case the goods sold are returned in the following accounting period, that is, the revenue has been recorded and the business results have been determined. Accounting reflects the revenue, VAT of the returned goods is recorded in the expenses of this period, the cost of goods sold returned to the warehouse is recorded in the revenue of this period.
Structure:
+Debtor:
- Value of returned goods has been refunded or deducted from accounts receivable
+The side has:
- Transfer the value of returned goods to account 511 or account 512 to calculate net revenue in the period.
Account 531 has no ending balance.
- TK532-Sales discounts : used to reflect actual sales discounts arising and handle sales discounts during the accounting period.
Structure:
+Debtor:
- Sales discounts accepted for customers arising during the period
+The side has:
- Transfer the sales discount amount to account 511 or account 512 to calculate net revenue in the period.
Account 532 has no ending balance.
- Tax:
Taxes that reduce revenue include:
- VAT by direct method.
- Export tax.
- Special consumption tax (SCT)
Reflecting VAT (direct method) payable :
Debit account 511 - Sales revenue and service provision Credit account 3331 - VAT
Reflecting export tax payable:
Debit account 511 - Sales revenue and service provision Credit account 3333 - Export tax
Reflects special consumption tax payable:
Determine the amount of special consumption tax (SCT) payable:
Sales price
Special consumption tax payable = ---------------- x tax rate
1 + tax rate
Debit account 511 - Sales revenue and service provision Credit account 3332 - Special consumption tax
1.3.2.3.Accounting method:
111,112,131 521,531,532 511, 512
Trademark, sales discount, sales return
3331
Trade discount, sales discount,
returned goods
3331,3332,3333
Amount of taxes paid
End of period tax payments
TTDB, XNK, VAT
Diagram 1.2: Accounting for revenue deductions
1.3.3. Accounting for cost of goods sold
1.3.3.1.Method of determining cost of goods sold
- Weighted average method:
According to this method, the cost of goods sold is calculated based on the quantity of goods sold and the average unit price.
Actual capital value of the product
=
products, goods out of stock
Number of products and goods shipped
Average unit price
*
army
Weighted average unit price for the entire reserve period
Actual product value
inventory
= period
Quantity of goods in stock
+
beginning of period
Actual capital value of products and goods imported during the period
Number of products and goods imported during the period
Weighted average unit price after each import i
Value of products and goods in inventory after import i
= Quantity of products, goods in stock after
input i
When calculating the weighted average unit price after each import of products, goods and materials. Accountants must pay attention to the quantity and unit price of products, goods and materials remaining after each export.
- First in first out (FIFO) method
According to this method, the products, goods, and materials that are imported first will be exported first, and the unit price will be equal to the import unit price. The actual value of the final inventory products, goods, and materials is determined by the unit price of the first imported products, goods, and materials.
- Last in first out (LIFO) method
According to this method, the last product, goods, and materials imported will be exported first. The unit price will be equal to the import unit price. The actual value of the final inventory product, goods, and materials is determined by the unit price of the first imported products, goods, and materials.
- Specific fact method
According to this method, the value of the cost of goods exported from the warehouse is determined based on the assumption that when exporting products, goods, and materials, the unit price of each batch of imported and exported goods is taken.
1.3.3.2. Documents used:
In the production and business of enterprises, economic transactions arising related to the import and export of goods must have complete and timely documents.
in accordance with the prescribed regime. These documents have a legal basis for accounting for import and export of goods, and are the basis for checking the necessity and reasonableness of the documents. The main documents used are:
- Warehouse receipt (Form 01-VT)
- Warehouse delivery note
- Regular sales invoice
- Warehouse delivery and internal transport note
To track the cost of goods sold, the initial document is the warehouse delivery note. When exporting goods, the accountant must create a warehouse delivery note as the basis for exporting goods and at the same time as the basis for entering the detailed goods book. When selling goods, the store creates a set of documents including an export note, VAT invoice, receipt and records the cost of goods to create a sales report.
1.3.3.3.User account
- According to the regular declaration method:
- TK632-Cost of goods sold: reflects the cost of goods sold during the period.
Structure
+Debtor:
- Collection of capital values of finished products, goods and services provided during the period
- Other amounts are included in the capital cost of the period.
+The side has:
- Cost of goods sold returned during the period
- Transfer cost of goods sold to debit account 911 to determine business results. Account 632 has no ending balance.
Other related accounts: Accounts 155, 156, 157, 159, 911.
- According to the periodic inventory method:
- TK611- Purchases: This account reflects the actual capital value of goods increasing or decreasing during the period. TK 611 has 2 sub-accounts:
- 6111: Purchase of raw materials
- 6112: Purchase of goods
- Account 631 - Production cost
1.3.3.4.Accounting method:
Diagram 1.3. Accounting for cost of goods sold using the regular declaration method
154 632 156,157
Finished products are sold immediately.
not through warehouse
Finished products, goods
return to stock
157
Goods produced and sent for sale are sold without going through the warehouse and are considered consumed.
155,156
Finished products, goods sent for sale
911
End of period cost of goods sold
sale item
Export finished products and goods for sale
159
159
Provision for inventory price decline
Provision reversal
inventory discount
Diagram 1.4 accounting for cost of goods sold using the periodic inventory method
155 632 155
Beginning of period value of capital
Beginning inventory
End of period cost of goods sold
ending inventory
157
At the beginning of the period, the capital value of the TP sent for sale has not been determined as consumption at the beginning of the period.
(for commercial enterprises)
157
At the end of the period, the cost price of the bonds sent for sale but not yet determined is
consumption during the period
611
At the end of the period, the cost of goods sold is determined as consumed.
911
At the end of the period, the cost of goods sold of finished products and goods is transferred.
service
631
At the end of the period, determine and pay the cost of finished products in stock, unit cost
the position is complete
(Manufacturing and service businesses)
1.3.4. Accounting for sales costs and business management costs
1.3.4.1. Documents used :
Documents related to sales costs and business management costs include:
- Salary allocation table and salary deductions (Form No. 01-LĐTL)
- Fixed asset depreciation calculation and allocation table (Form No. 06-TSCD)
- Material and equipment allocation table (Form No. 07-VT)
- VAT invoice (Form No. 02-TT)
- Bank deposit debt notice
Every day, based on the documents arising related to sales costs and business management costs, accountants record them in the detailed books, general ledger accounts 641, 642 depending on the accounting method applied by the enterprise. At the end of the accounting period, sales costs and business management costs are transferred to the income to calculate the profit from consumption in the period. In case the sales costs arising in the period are larger while the revenue of this period is smaller or not yet available, the sales costs are temporarily transferred to account 142 (242) "prepaid expenses". This amount will be transferred once or many times in the following periods when there is revenue.
1.3.4.2.User account:
- TK641-Cost of sales: used to reflect actual costs incurred in the process of product consumption.
Structure
+Debtor:
- Collection of actual costs incurred in the process of consuming products, goods and services of the enterprise.
+The side has:
- Deductions for sales expenses incurred during the accounting period
- Transfer selling expenses to account 911 to determine business results, or transfer sales expenses to account 142(242) "prepaid expenses" to await allocation.
Account 641 has no ending balance and has 7 sub-accounts as follows:
- 6411: Purchasing staff costs
- 6412: Packaging material costs
- 6413: Cost of tools and equipment
- 6414: Depreciation costs of fixed assets used in sales
- 6415: Product warranty costs
- 6417: Outsourced service costs
- 6418: Other expenses in cash.
- TK642-Business management expenses: used to reflect the general management expenses of the business arising during the accounting period.
Structure
+Debtor:
- Collect actual business management costs incurred during the period, bad debt provisions, payable provisions, and employment allowance provisions.
+The side has:
- Reversal of provision for doubtful debts, provision for payables
- Transfer business management costs to account 911 to determine business results or transfer business management costs to account 142 "prepaid expenses" to await allocation.
Account 642 has no ending balance and has 8 sub-accounts as follows:
- 6421: Management staff costs
- 6422: Management material costs
- 6423: Office supplies costs
- 6424: Fixed asset depreciation costs
- 6425: Taxes, fees, charges
- 6426: Contingency costs
- 6427: Outsourced service costs
- 6428: Other expenses in cash
1.3.4.3.Accounting method:
Diagram 1.5: Accounting for sales costs and business management costs
152,153 641,642 111,112
Cost of raw materials and equipment
133
Decrease in accruals
Insurance and management costs
334,338
Payroll and other
salary deduction
911
Cost of sales
214 Administrative expenses
Depreciation of fixed assets of the Department of Insurance and Management
142, 242, 335 335
Amortization of Accrued Expenses
Provision refund
payable
111, 112, 331
Outsourcing service costs
Electricity and water costs
1.3.5. Accounting for financial revenue and financial expenses.
1.3.5.1. Documents used:
Documents related to financial revenue and financial expenses:
- Receipt, payment voucher
- Bank interest statement
- Bank statement
- Loan contracts
- Minutes of capital contribution to joint venture
- Other relevant documents
1.3.5.2.User account
- Account 515-Financial revenue : used to reflect revenue from interest, royalties, dividends, shared profits, exchange rate differences and revenue from other financial activities of the enterprise.
Structure
+Debtor:
- VAT payable calculated by direct method (if any)
- Transfer net financial revenue to account 911 to determine business results
+The side has:
- Interest, dividends, profits shared
- Profit from sale of investments in subsidiaries, associates and joint ventures.
- Payment discount enjoyed
- Exchange rate gains arising during the period 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. Account 511 has no ending balance.
- Account 635-Financial expenses: used to reflect financial activity expenses.
Structure
+Debtor:
- Interest expense on loans, interest on deferred purchases, interest on asset leases, financial leases
- Foreign currency sales loss
- Payment discount for buyers
- Losses from liquidation and sale of short-term investments
- Exchange rate loss arising during the period of business activities (realized exchange rate loss)
- Exchange rate loss due to year-end revaluation of foreign currency items of business activities (unrealized exchange rate loss)
- Provision for devaluation of securities investment (difference between the unused provision set aside in the previous year)
- Carry forward or allocate exchange rate differences of investment and construction activities (exchange rate losses from the period before the completed investment activities to financial expenses)
- Other financial investment expenses
+The side has:
- Reversal of provision for devaluation of securities investment (the difference between the provision required to be set up this period is less than the provision set up last year that has not been fully used)
- At the end of the accounting period, transfer all financial expenses in the period to account 911 to determine business results.
Account 635 has no ending balance.
1.3.5.3.Accounting method:
Graduation thesis
Diagram 1.6: Accounting for financial revenue and financial expenses
111,112,242,335 635 911 515 111,112,138,121,222
Interest payment from financial expense account financial revenue account business income
121,221,222,228
Loss on investments
111,112,138
Discount interest, bank deposit
111,112,131 goods, loan money
Operating expenses 121,221
joint venture, association
129,229 111,112,131
Provision for investment depreciation Income from leasing fixed assets
3331
214
Depreciation expense of fixed assets for operating lease TC
Student: Nguyen Thi Nga - Class QT1003K30