Completing the organization of salary and salary deductions at Tan Viet Fashion Garment Company Limited

3.3.7. Conduct salary fund analysis

Currently, the Company has not yet analyzed the salary fund and salary deductions. On the other hand, it has not built a salary plan, which causes difficulties for managers because they do not have the necessary and accurate information for making decisions on salary-related issues.

Therefore, I recommend that the company's accountant should analyze the salary fund, establish a planned salary fund to compare the actual salary fund with the plan to see what the company has done in salary accounting and what is still limited to provide information to business managers and come up with the right solutions to help the business develop and grow stronger.

3.3.8. Apply more severe forms of discipline

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As presented in the section on existing problems in the Company, card swiping and free leave are common occurrences in the Company. For this issue, the Company needs to have stricter forms of discipline.

Managing working time is an extremely necessary factor for calculating salaries for employees. In addition to assessing the level of labor waste they have spent, it also reflects their attitude, spirit, and responsibility for the job. Therefore, the Company must perform timekeeping for employees seriously and accurately to ensure correct and fair salary calculation for employees according to the principle of working more, getting more, working less, getting less, helping the Company to clearly see the level of interest and responsibility of each individual for the job.

Therefore, swiping cards for others and taking time off work without permission not only causes damage to the Company's production plan, disrupts production progress and demonstrates manual labor style. This is a weakness that not only employees in Tan Viet Fashion Garment Company Limited have but is a major weakness for Vietnamese people.

Currently at Tan Viet Fashion Company, there are people monitoring this time card swiping, but it is just a formality, because when it is discovered,

then ignore it as if they don't see it or if they do, they just remind them to finish the job without applying any form of discipline. This is what makes workers not comply with labor regulations a lot.

Therefore, I recommend that the Company should have more severe disciplinary measures with the following penalties:

- For swiping time cards for others, the company should impose administrative fines on both the person swiping the card and the person asking for the card to be swiped as follows: The person swiping the card for others will be fined 100,000 VND, the person asking for the card to be swiped will be fined 200,000 VND for each swipe.

- In case of free leave: When an employee takes leave, there must be a legitimate reason and the consent of the production manager. If the employee takes leave without permission, the following penalties may apply:

+ The HR officer reminded the employee and asked him to write a self-criticism and pledge not to repeat the offense again.

+ If the violation continues, apply administrative penalties. In addition to deducting the monthly attendance fee and not calculating the salary for that day off, the company can apply the following: If the employee takes more than 3 days off in a month, the company should consider terminating the labor contract. If the employee takes more than 10 days off in a year, the year-end bonus will be cut.

3.3.9. Use of Welfare Reward Fund account according to new regulations

As presented above, Tan Viet Fashion Company Limited still accounts for the welfare reward fund on account 431.

According to Circular No. 244/2009/TT-BTC dated December 31, 2009, Article 18 provides as follows :

“Article 18. Accounting for reward and welfare funds

1. Change account number 431 - Reward and welfare fund

- Change account number 431 - "Reward and welfare fund" to account 353 - Reward and welfare fund;

- Change account number 4311 - "Reward fund" to account 3531 - Reward fund;

- Change account number 4312 - "Welfare fund" to account 3532 - Welfare fund;

- Change account number 4313 - "Welfare fund for forming fixed assets" to account 3533 - Welfare fund for forming fixed assets.

The structure, reflection content and accounting method of account 353 - "Reward and welfare fund" remain unchanged compared to account 431.

2. Add account 3534 - Bonus fund for company's executive management board

Transfer the content reflecting "Company Management and Executive Board Bonus Fund" from account 418 - Other funds belonging to equity to account 3534 - Company Management and Executive Board Bonus Fund. The method of accounting for the Company Management and Executive Board Bonus Fund on account 3534 is similar to the method of accounting for the Company Management and Executive Board Bonus Fund specified on account 418. "

Therefore, I would like to recommend that the company replace it with account 353 to comply with State regulations and ensure regular updates on changes in the business accounting regime.

3.3.10. Paying employees' salaries through the ATM system

The current trend of the state encourages businesses to pay salaries to employees via ATM cards. Paying salaries via cards brings benefits to both businesses and employees. It helps reduce work, avoids errors for cashiers, and is convenient for each employee who does not have to wait for salary payment. However, due to the habit of receiving cash of the majority of employees, the company should organize propaganda about the benefits and safe use of ATM cards to the majority of employees in the company.

To create the most convenience for employees, it is possible to propose that the bank be a partner to install an automatic teller machine right at the company. This shows the company's concern for the interests of employees and at the same time prepares well for implementing the State's salary payment policy via card.

3.3.11. Applying accounting software

The economy is increasingly developing and science is increasingly applied in work, especially in accounting to reduce the workload for people. In particular, the Company also needs to have accurate information to make the right decisions to ensure the fierce competition taking place in the market. Besides, information technology is very developed, contributing a significant part to management work.

Therefore, to meet the needs of the times and work requirements, companies should use computer accounting software instead of doing accounting on Excel spreadsheets. Applying accounting software brings businesses a lot of convenience and especially reduces the workload and pressure for accounting staff.

Using the software is also quite simple and not complicated in calculation. When applying the software, we get a lot of convenience, when there is an economic transaction, the accountant just needs to open the software, the system has been pre-installed and enter the data, then the system will automatically run the detailed data into the relevant books. Accountants can see if the transaction is correct or not when viewing the relevant books. In addition, when detecting accounting errors, they can be corrected directly without having to make any additional entries. At the end of the month, the system will automatically close the end-of-month books and transfer the data to the next month. The system also automatically updates the financial reports and stores the books.

Meanwhile, when applying manual accounting, accountants must do the following: Record accounting documents in accounting books, then close accounting books, check and compare data, then prepare financial reports and store books.

Currently the company is applying general journal accounting, so applying accounting software is very appropriate. The company can apply accounting software

MISA accounting, a type of software used for small and medium enterprises, is easy to use and the cost for purchasing the software license is not expensive, only from 1,000,000 to 7,000,000 VND. With the current financial situation of the company, investing in this software is completely possible.

CONCLUDE

In a market economy, human resources play an important role in determining the existence of a business. Especially for garment companies, human resources are even more important. Therefore, calculating salaries and salary deductions to ensure the benefits of employees and connect them with the business is an issue that businesses pay special attention to.

The thesis on perfecting the organization of salary accounting and salary deductions at Tan Viet Fashion Garment Company Limited has mentioned the following issues:

In theory: Provide basic theories on salary work and salary deductions according to current regulations.

In reality: Reflecting the current status of salary accounting organization and salary deductions, using 2010 data as evidence.

About the solution: Based on comparing reality with theory, I have proposed a number of solutions to improve the accounting of salaries and salary deductions at the Company and help the Company stand firm in the market and develop further.

During the internship, study and research to complete my thesis, I have received a lot of help from the Company, especially the enthusiastic guidance of Master Pham Van Tuong who helped me complete this thesis. However, due to limited time and limited personal knowledge, my thesis cannot avoid shortcomings. I look forward to receiving the evaluation and comments of teachers to improve my graduation thesis.

Thank you very much!

Student

Do Thi Hien

Completing the organization of salary and salary deductions at Tan Viet Fashion Garment Company Limited - 13

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