Point of Sale Automation: Highly Accurate Vending, More Flexible Accounting. Record Transactions Here:

 Account 151 – goods in transit: goods purchased from outside that are owned by the unit but have not yet arrived at the closing date or have arrived but have not completed the warehouse entry procedures.

 Account 331 – payable to sellers: this account is used to reflect the payment status of debts payable by the enterprise to sellers of goods and service providers under signed economic contracts. This account is also used to reflect the payment status of debts payable to main and sub-contractors.

 Account 511 – sales revenue: is the total value realized from the sale of goods. Total sales revenue is the amount recorded on the bill.

 Account 33311 – output VAT: used to reflect output VAT, deducted input VAT, VAT on returned or discounted goods, VAT payable and remaining payable of products, goods and services consumed during the period.

 Account 112 – Bank deposits: reflects current amount and change situation

Maybe you are interested!

increase and decrease of business bank deposits.

 Account 632 – cost of goods sold: is the original cost of purchased goods, including the cost of products, goods, and services sold during the period, raw material costs, labor costs exceeding the normal level, and fixed general production costs that are not allocated to the cost of goods sold during the period.

 Account 6421 – selling expenses: reflects actual expenses incurred in the process of selling products, goods, and providing services, including expenses for offering products, introducing products, advertising products, sales commissions, product warranty expenses, etc.

B/ Sales accounting

3.1 Sales cycle characteristics:

 The sales-collection cycle is an important cycle of business units. The performance of these units is greatly influenced by the efficiency and effectiveness of this cycle, such as whether the unit can sell goods and services.

No, can receivables be controlled, are there any asset losses... are all concerns of managers.

 The cycle goes through many stages, related to sensitive assets such as receivables, goods, money, etc., so it is often the subject of embezzlement and misappropriation.

 Customer receivables are an item that can account for a large proportion of a unit's assets, because fierce competition in the market is a factor that pushes many units to expand credit sales and this increases the risk of violations.

3.2 Automated point of sale: automated sales have high accuracy, more flexible accounting. Record the following transactions:

 Sales and service provision.

 Terms of transferring goods between store warehouses.

 Sell product sets created at the time of sale or pre-created

there .

 Receive returned goods.

 Collect money from buyers.

 Internal money transfer between cashier counters

 Create sales invoice (cash register check), when the cashier session ends

Create a summary statement based on the cash register, which includes data on returned goods in the working version of the cash register.

 There is a system of payment cards and bank credit cards, using percentage discounts (%), including discounts based on discount cards.

3.3. Procedures and documents for automatic sales operations:

Procedure

 Cashier based on product barcode system.

 The cashier makes a report at the end of the working session according to the regulations of the cash register. In which, a report is printed from the cash register, also known as " Z - REPORT" and recorded in the counter book.

 When the change information is entered into the database, the software can

Provide documents "Retail list of goods and services".

Document

The voucher includes the Summary of the tables sold during the cashier's session. If any buyer pays by payment card or purchases by credit card,

The corresponding information is reflected in the "Payment and bank credit card" card. The software automatically creates accounting entries to record revenue, VAT, goods, and cash receipts.

3.4 Accounting:

section

 Every day sales revenue of the stores will be recorded in the expense book.

Debit 11112: detailed revenue by store. Credit 511: revenue by store. Credit 3331: output VAT.

 When the store deposits money into the bank:

Debit 11211: amount deposited in the bank

There are 11112: the amount deposited in the bank.

 Cost of goods sold:

Debit 632: cost of goods sold Credit 156: cost of goods sold

Some real cases at the company : ( stores in Hai Ba Trung and Le Lai)

Revenue of Hai Ba Trung and Le Lai stores on December 8, 2011: 16,948,500 and 15,171,000

Sales revenue December 2012 (table is attached in the appendix)

Accounting for revenue recognition:

Debit 11112: 16,948,5000 (CH Hai Ba Trung) Credit 511: 15,407,727

There are 3331 : 1,540,773

And :

Debit 11112: 15,171,000 (CH Le Lai) Credit 511: 13,791,818

There are 3331 : 1,379,182

Every day the Store Manager will deposit the collected money into the bank: The Accountant records:

Debit 11211: 16,948,500 (CH Hai Ba Trung) Credit 11112: 16,948,500

And: Debit 1121: 15,171,000 (CH Le Lai) Credit 11112: 15,171,000

In case of returned goods:

Debit 331: return value.

Yes 156/C33311 : return value .

Table of selling expenses for December 2011 (table is attached in the appendix)

Currently, the company uses Decision 48, selling expenses are included in account 6421.

Accounting records costs:

Depreciation expense group: tool cost, tangible fixed assets, intangible fixed assets...

Eg: Tangible fixed assets:

Debt 6421: 12,079,468 (CH Hai Ba Trung)

There are 214 : 12,079,468

And :

Debit 6421: 11,558,122 (CH Le Lai) Credit 214: 11,558,122

The cash expense group includes small expenses such as: miscellaneous expenses, property insurance costs, health care ……….

Eg: miscellaneous expenses:

Debit 6421: 973,000 (CH Hai Ba Trung) Credit 11111: 973,000

And :

Debit 6421: 230,000 (CH Le Lai) Credit 11111: 230,000

Group of expenses by transfer: salary expenses, employee bonuses, social insurance, health insurance & unemployment insurance expenses, fax expenses, landline phone, mobile phone, internet, etc.

Eg: Salary and bonus costs:

Debit 6421: 17,377,447 (CH Hai Ba Trung) Credit 334: 17,377,447

Debt 334 : 17,377,447

There are 11211 : 17,377,447

And

Debit 6421: 18,298,487 (CH Le Lai) Credit 334: 18,298,487

Debt 334 : 18,298,487

There are 11211 : 18,298,487

3.5. Sales accounting diagram:

Sales revenue accounting chart

511 11112 11211

Sales revenue

Bank deposit

3331

Output VAT

Sales cost accounting diagram:

334,338 6421 111, 1388

Human cost

pill

Depreciation value

cost of sales

row

153

Cost of tools and materials

214

Depreciation cost

335, 1421

Cost to Pay

333

Tax payable

331,111

Purchase service cost

outside

And the cost in money

other

C/ Accounting for purchasing goods

3.6 Characteristics of the purchasing cycle:

 Purchasing, storage and payment is an important cycle for most businesses, especially commercial manufacturing businesses. The effectiveness and efficiency of this cycle depends on the forecasting ability of managers. Such as the unit purchasing goods on time at reasonable prices, not losing assets, paying debts to suppliers on time

Comment