3.4.2. Document circulation
- Upon receiving a value-added invoice, regular invoice or receipt, the accountant enters the relevant content into Misa software. Then, issue a 2-copy payment voucher, the chief accountant signs the payment voucher and gives copy 1 to the service provider, copy 1 is circulated internally. At the same time, store the value-added invoice or receipt together with copy 1 payment voucher in the accounting department.
- Based on the timesheet, employee salary summary table as well as fixed asset depreciation table, the accountant enters the expenses into Misa software and saves them.
3.4.3. Transactions arising
During the month, the following transactions occurred:
1. Salary for Unilever direct sales staff and deductions included in December expenses amount to 72,425,576 VND
- Based on the Unilever employee payroll with employee confirmation, the accountant enters into Misa software (Summary / Other business documents) the information explaining the content (Salary for direct sales staff U), determines the business and enters the amount of 72,425,576 VND. In which, the salary for direct sales staff U is 58,407,723 VND, the deduction to be calculated into expenses is 14,014,853 VND. Then save (Save) for easy tracking and comparison later.
- This transaction is accounted for as follows: Debit account 6411: 72,425,576
Credit account 3341: 58,407,723
Credit account 338: 14,014,853
2. Pay Unilever porterage wages for December to Ms. Lai Thi Sau in cash in the amount of 7,175,000 VND.
- Based on the receipt of Ms. Lai Thi Sau confirmed by the sales staff, the accountant enters it into Misa software (Fund Subsystem / Payment Voucher), declares information about the Subject (Ms. Lai Thi Sau), reason for payment (Payment for loading and unloading goods U) and enters the amount of 7,175,000 VND. Then save (Save) for easy tracking and comparison later.
- This transaction is recorded as follows: Debit account 6418: 7,175,000
Credit account 1111: 7,175,000
3. Pay for phone bill used by Unilever sales department in cash amount of 2,532,555 VND
- Upon receiving the monthly telephone bill payment notice, the accountant enters into the Misa software (Fund Subsystem / Payment Voucher) the information about the Subject (AyunPa Town Telecommunication Center), Payment Reason (Electricity Bill Payment for December 2012), and enters the amount of 2,532,555 VND. Then save (Save) for easy tracking and comparison later.
- This transaction is recorded as follows: Debit account 6417: 2,532,555
Credit account 1111: 2,532,555
4. Pay for electricity and water used by Unilever sales department in cash, amount of 2,739,273 VND
- Upon receiving the monthly electricity and water bill payment notice, the accountant enters the information of the Object (Other Object), Reason for Payment (Electricity and Water Bill Payment for December 2012) into the Misa software (Fund Subsystem / Payment Voucher), and enters the amount of 2,739,273 VND. Then save (Save) for easy tracking and comparison later.
- This transaction is recorded as follows: Debit account 6417: 2,739,273
Credit account 1111: 2,739,273
5. Depreciation of fixed assets used in Unilever sales department in December
- Based on the monthly depreciation table for each department and different product lines, the accountant enters into Misa software the asset depreciation for December 2012 used in the Unilever product line (Fixed Assets / Depreciation Calculation subsystem). The calculated depreciation is 6,528,954 VND. Then save (Save) for easy tracking and comparison later.
- This transaction is recorded as follows: Debit account 6414: 6,528,954
Credit account 2141: 6,528,954
At the end of the month, the accountant transfers the monthly sales expenses to account 911 to determine the business results:
Debit account 911: 91,401,358
Credit account 641: 91,401,358
3.4.4. General accounting diagram
Account 111
Account 641
Account 911
7,175,000 (641)
2,532,555 (641)
2,739,273 (641)
(111) 7,175,000
(111) 2,532,555
(111) 2,739,273
91,401,358 (911)
(641)91.401.358
Account 214
6,528,954(641)
(214)6,528,954
Account 334,338
72,425,576(641)
(334,338)6,528,954
91.401.358 91.401.358
Diagram 3.2. Diagram of accounting for total sales costs
ACCOUNT LEADERS
December 2012
Account: 641 - Cost of sales
CT number
Accounting date | CT Type | Interpretation | Account | Corresponding account | In debt | Have | |
A | B | C | D | E | F | 1 | 2 |
- Beginning balance | |||||||
560C | December 29, 2012 | Payment voucher | Payment of Loading Fee U (Six) | 641 | 1111 | 7,175,000 | |
566C | December 29, 2012 | Payment voucher | December phone bill U | 641 | 1111 | 2,532,555 | |
574C | December 30, 2012 | Payment voucher | Electricity and water bill for December | 641 | 1111 | 2,739,273 | |
CTK62 | December 30, 2012 | Other business documents | Fixed asset depreciation December U | 641 | 214 | 6,528,954 | |
Document | Salary transfer | ||||||
CTK56 | December 31, 2012 | profession | December to next | 641 | 334,338 | 72,425,576 | |
other | fee | ||||||
KCT12 | December 31, 2012 | Carryover profit, loss | Cost transfer sell | 641 | 911 | 91,401,358 | |
Add | 91,401,358 | 91,401,358 | |||||
Closing balance | |||||||
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Business Management Cost Accounting
(Source: According to data from the accounting department of Nam Gia Lai Trading Company)
3.5. Business management cost accounting
Business management costs include the following:
- Salary for employees
- Pay for outside services such as electricity, telephone, water
- Pay for hospitality
- Fixed asset depreciation in the month
- Fixed asset depreciation table
3.5.1. Documents used
- Value added tax invoice
- Regular bill
- Payment voucher, debit note
- Fixed asset depreciation table
- Salary summary table
3.5.2. Document circulation
- Upon receiving a value-added invoice, regular invoice or receipt, the accountant enters the relevant content into Misa software. Then, issue a 2-copy payment voucher, the chief accountant signs the payment voucher and delivers copy 2 to the service provider, copy 1 for internal circulation. At the same time, store the value-added invoice or receipt together with copy 1 payment voucher in the accounting department.
- Based on the employee salary summary table as well as the fixed asset depreciation table, the accountant enters the expenses into Misa software and saves them.
3.5.3. Transactions arising
During the month, the following transactions occurred:
1. Salary for Unilever product management staff and deductions included in expenses amount 59,959,273 VND.
- Based on the Unilever employee payroll with employee signature confirmation, the accountant enters it into Misa software (Summary section).
/ Other business documents) information explaining the content (Salary for the manager of line U), business accounting and entering the amount of 59,959,273 VND. In which, the salary of the manager of line U is 48,354,252 VND, the deductions from expenses are 11,605,021 VND. Then save (Save) for easy tracking and comparison later.
- This transaction is accounted for as follows: Debit account 6421: 59,959,273
Credit account 3341: 48,354,252
Credit account 338: 11,605,021
2. Pay for electricity and water used in the Unilever product management department in cash, the amount is 1,877,000 VND.
- Upon receiving the monthly electricity and water bill payment notice, the accountant enters into the Misa software (Fund Subsystem / Payment Voucher) the information about the Object (Other Object), Payment Reason (Electricity and water bill payment for December 2012), and enters the amount of 1,877,000 VND. Then save (Save) for easy tracking and comparison later.
- This transaction is recorded as follows: Debit account 6427: 1,877,000
Credit account 1111: 1,877,000
3. Pay for phone bills used in the Unilever product management department in cash, the amount is 1,903,621 VND.
- Upon receiving the monthly phone bill payment notice, the accountant enters into the Misa software (Fund Subsystem / Payment Voucher) the information about the Subject (AyunPa Town Telecommunications Center), Payment Reason (Phone Bill Payment December 2012), and enters the amount of 1,903,621 VND. Then save (Save) for easy tracking and comparison later.
- This transaction is recorded as follows: Debit account 6427: 1,903,621
Credit account 1111: 1,903,621
4. Payment for hospitality (Unilever Central Sales Supervisor checks the operating situation at Nam Gia Lai distributor) in cash, the amount is 8,230,000 VND.
- Based on the VAT invoice provided by the seller, the accountant enters it into Misa software (Fund Subsystem / Payment Voucher) and declares information about the Subject (Tuoi Tre Ayunpa Restaurant), Payment Reason (Customer Reception Expense), the amount is 8,230,000 VND. The accountant prints this payment voucher (Select the 2-copy payment voucher item) to give to the restaurant staff and keeps it in the accounting department. Then save (Save) it for easy tracking and comparison later.
- This transaction is recorded as follows: Debit account 6428: 8,230,000
Credit account 1111: 8,230,000
5. Depreciation of fixed assets used in Unilever goods management department is 12,355,953 VND.
- Based on the monthly depreciation table for each department and different product lines, the accountant enters into Misa software the asset depreciation for December 2012 used in the Unilever product line (Fixed Assets / Depreciation Calculation subsystem). The calculated depreciation amount is 6,528,954 VND.
- This transaction is recorded as follows: Debit account 6424: 12,355,953
Credit account 2141: 12,355,953
At the end of the month, the accountant transfers the monthly business management costs to account 911 to determine the business results:
Debit account 911: 84,325,847
Credit account 642: 84,325,847
3.5.4. General accounting diagram
Account 111
Account 642
Account 911
(334,338)59,959,273
84.325.847 84.325.847
8,230,000 (642) | (111) 8,230,000 | 84,325,847 (911) | (642) 84.325.847 |
1,903,621 (642) | (111) 1,903,621 | ||
1,877,000 (642) 214 | (111) 1,877,000 | ||
12,355,953 (642) | (214)12,355,953 | ||
TK
Account 334,338
59,959,273 (642)
Diagram 3.3. Diagram of accounting for total business management costs
ACCOUNT LEADERS
December 2012
Account: 642 - Business management expenses
CT number
Accounting date | CT Type | Interpretation | Account | Corresponding account | In debt | Have | |
A | B | C | D | E | F | 1 | 2 |
- Beginning balance | |||||||
562C | December 15, 2012 | Payment voucher | Hospitality expenses | 642 | 1111 | 8,230,000 | |
571C | December 30, 2012 | Payment voucher | December phone bill U | 642 | 1111 | 1,903,621 | |
579C | December 30, 2012 | Payment voucher | Electricity and water bill for December | 642 | 1111 | 1,877,000 | |
CTK69 | December 31, 2012 | Other business documents | Fixed asset depreciation December U | 642 | 214 | 12,355,953 | |
Document | Salary transfer | ||||||
CTK73 | December 31, 2012 | profession | December to next | 642 | 334,338 | 59,959,273 | |
other | fee | ||||||
KCT12 | December 31, 2012 | Carry forward profit and loss | Carry over business management expenses | 642 | 911 | 84,325,847 | |
Add | 84,325,847 | 84,325,847 | |||||
Closing balance | |||||||
(Source: According to data from the accounting department of Nam Gia Lai Trading Company)
3.6. Accounting for revenue from financial activities and financial expenses
The company does not have any lending or investment activities in valuable papers, so there are no transactions related to financial revenue, only transactions related to financial expenses. This financial expense is mainly interest expense to serve the need to use borrowed capital to purchase goods.
- In December 2012, based on the notice from the bank - where Nam Gia Lai Trading Company signed a loan contract - the total interest expense for purchasing goods from Unilever paid by bank deposit was 28,350,598 VND.
- The accountant compares the unpaid loan amount and interest rate on the contract with the bank's notice, creates a payment order to pay the above interest amount and transfers it to the chief accountant for confirmation.