IMPROVING ACCOUNTING FOR SALES AND INCOME SUMMARY AT FITMAX VIETNAN JOINT STOCK COMPANY

SALES ACCOUNTING TASKS AND DETERMINATION OF SALES RESULTS...7 CHAPTER 2...10 ACCOUNTING FOR SALES AND INCOME SUMMARY FITMAX VIETNAM JOINT STOCK COMPANY...10 2.1.. Income Summary...54 CHA

Feature of Sales

Fit Max Joint Stock Company is a company specializing in trading fashion clothes of all kinds Some typical products the company is doing business today are:

The Company's products are very diverse and many types with different values

The company's products are diverse, high quality and reasonably priced to meet customer needs.

Fit Max Joint Stock Company prioritizes product quality and brand reputation as its core principles Committed to earning customer trust, our team consistently strives to deliver the highest quality products, maximize market coverage, and prioritize customer care We aim to reach a broad audience, from urban to rural areas, ensuring consumer needs come first, with enterprise profitability being a secondary focus.

Currently, the company has developed chain stores across the country such as Hai Phong, Da Nang, Thanh Hoa, Ho Chi Minh City, Quang Binh

In the Hanoi market, the company has developed 4 active locations Very effective at:

+ Gymmax - 44 Doan Ke Thien - Hanoi

It can be said that the company's store system has been working very well, serving the needs of consumers, the company is constantly expanding the market of activities to bring the Company's goods closer to the people and businesses

Sales methods

The sale of goods is the way in which enterprises transfer ownership of goods to customers and collect money or the right to collect money from the quantity of goods sold.

The trading of goods by commercial enterprises can be done through two meansc: wholesale and retail In particular, wholesale is the sale of goods to production and business units to continue the process of goods movement and retail is the sale of goods to consumers, ending the process of goods flow.

Wholesale and retail goods can take many different ways

There are two methods of sales: warehouse sales and direct delivery sales

* Method of selling goods through warehouse

According to this method, goods purchased are stored in stock then sold out The method of selling goods through the warehouse has two forms of delivery and receipt a) Method of receiving goods: In this form, the buyer will receive the goods at the seller 's warehouse or to a place agreed upon by the two parties under the contract, but usually by the seller b) Method of delivery: In this form, the seller will transfer the goods to the buyer's warehouse or to a place specified by the buyer for delivery.

In this mode, the goods will be shipped directly from the supplier to the buyer without going through the intermediary's warehouse The method of direct delivery sales has two forms of payment

Shipping involved in payment: In this form, the goods are upgraded directly in terms of payment, the intermediate unit still duties of payment of the goods with the unit of supply and collection of the unit of purchase

Direct shipping is not involved in payment: In this form the goods are shipped on the payment side, the intermediary does not pay the money to the supplier and collects money from the buyer Depending on the contract, the intermediary is entitled to a certain amount of fees at the purchaser or supplier.

There are 3 sales methods: Focused sales without collecting money and automatic sales

This method assigns the salesperson solely to the delivery process, with a dedicated person responsible for collecting payments The workflow begins when the customer views and agrees to purchase the goods, after which the seller issues a retail invoice for the customer to present at the collection point Once payment is received and the invoice is stamped "collected money," the customer takes the goods, and the order is fulfilled At the end of each day, the collector gathers the money to record sales figures, while periodic inventory checks at the counter help assess the volume of goods sold and identify any over-selling issues.

* Sales method does not collect money collectively

According to this method, the salesperson is both in charge of delivering goods and collecting money Therefore, in a retail store the collection of sales proceeds is scattered at many points Daily or periodic inventory of remaining goods to calculate sales, make sales reports, compare sales according to sales reports with the actual amount paid to determine the excess of sales proceeds.

Under this method, the buyer selects the goods himself, then brings it to the cashier's office to check the goods, calculate the bill, make a sales invoice and collect the money At the end of the day, you pay the salesperson to the cashier Periodically inventory, determine redundancy, lack of money for sale

+ Pay immediately in cash: Goods of the company after delivery to customers, customers pay immediately in cash

+ Non-cash payment: By this method, the company's goods after delivery to customers, customers can pay by check or bank transfer.

Management for sales

Sales is the final stage in the business process of the business and also determines business results as an important basis for the unit to decide. Consumption of goods anymore or not Therefore it can be said that between selling and determining business results is closely related Sales results are the ultimate goal of the business and sales are the direct means of achieving that goal.

1.3.1 The role of sales accounting and determining sales results

Sales and determination of business results are extremely important not only for businesses but also for the entire national economy For businesses that can sell goods, they only have income to offset the expenses spent, have conditions to expand business activities, improve the lives of workers, create accumulation sources for the foundation National Economy The accurate determination of sales results is the basis for accurately determining the performance of enterprises to the State through paying taxes, fees and charges to the state budget, determining the cost structure rational and effective use of the profits earned to harmonize the settlement of economic benefits: State, collective and individual employees

1.3.2 Requirements of sales accounting and determination of sales results

As stated, sales and determination of sales results are vital to the business Accounting in enterprises as an economic management tool, acquiring, processing and providing all information about the assets and the movement of such assets in the enterprise in order to fully inspect and supervise the set of economic and financial activities of an enterprise, having an important role in serving the sale management and determining the sale results of that enterprise Sales management is the management of plans and implementation of consumption plans for each period, each customer, each economic contract.

The requirement for sales accounting is to closely monitor the goods consumed in all aspects: quantity and quality To avoid loss of damage or embezzlement, check the reasonableness of expenses and correctly allocate to the right goods to determine business results Must strictly manage the payment situation of customers who require payment in the right form and time to avoid loss of capital stagnation.

1.3.3 Sales accounting tasks and determination of sales results

To meet the goods management requirements; Sales of results determination and distribution of results of accounting activities must perform well the following tasks:

1 To reflect and record fully, accurately and promptly the existing situation and fluctuations of each type of product or goods according to the quantity, quality, category and value norms.

2 Reflect and record fully, promptly and accurately all revenues,deductions of revenue and expenses of each activity in the enterprise, and monitor and urge trade receivables .

Documents used in sales accounting and determination of sales results at Fit Max Vietnam Joint Stock Company include:

+ Delivery bill: Form No 02 - VT

+ Warehousing note: Form No 01-VT

+ VAT invoice: Form No 01 GTGT - 3LL

As for the account usage, the company uses according to the Circular

200/2014/ TT_BTC of the Ministry of Finance Accounts for accounting revenue include:

+ Account 511: Revenue from goods sale and service provision

This account is used to reflect the total revenue of sales and service provision of the company in the period

Account 511 - Turnover from goods sale and service provision are detailed into the following second grade Accounts:

Account 5111: Revenue from goods supply

There are also sales deductions such as:

ACCOUNT 5213: Reducing sales of goods

+ ACCOUNT 632: Cost of goods sold

This account is used to reflect the actual value of goods sold in the period.

Account 6411: Cost of sales staff Account 6414: Depreciation expense of fixed assets.

Account 6417: Expenses for services purchased from outside. Account 6418: Expenses in other currencies.

ACCOUNT 6423: Cost of office supplies Account 6424: Depreciation expense of fixed assets.

Account 6425: Taxes of fees and charges Account 6427: Expenses for services purchased from outside. Account 6428: Expenses in other currencies …………

3 Accurately reflect and calculate the results of each activity, supervise the performance of obligations to the State and the results distribution of activities.

Accounting for sale

Turnover of the company is recognized according to the principle of revenue recognition in Vietnam accounting Standards No 14 on other revenues and alloc, sales revenues are recorded when the company can obtain economic benefits and revenues can be determined in a surety way The time of revenue recognition usually coincidisthe time of transferring goods, releasing the invoice to the buyer and being accepted by the buyer, no discrimination has been received or the money has not been collected.

Documents used in revenue accounting at Fit Max Vietnam Joint Stock

 VAT invoice : At the company, the Company's VAT invoice is allowed by the Ministry of Finance to design and print by itself according to a form set by the Ministry of Finance The VAT invoice is made by the sales accountant and is made in 3 copies:

Contact 1: Save at the window

Contact 3: Used to circulate the book

Every day when there are arising sales transactions, they will be recorded directly on the added value invoice Based on the added value invoices after collating economic contracts and payment documents (cash receipts, credit notices of banks, etc.), the sales accountants shall record books.

December 20, 2019 N 0 : 0000198 Sales unit: Fit Max Vietnam

Address: 2/ 18 - Alley 89 Thai Ha - Dong Da - Hanoi

Full name of buyer: Tran Thi Lan.

Unit: Service Trading and Technology Transfer Company TVST

Address: 12 D5 Thành Công - Ba Đình - Hà Nội

Form of payment: CK MST: 0101144801

No Goods Unit Amount Unit price Into money

Amount written in words: One hundred and twenty five thousand and even./.

(Sign, write full name) (Sign, clearly state full name) (Sign and specify)

Figure 1: Notice of credit with BIDV

BIDV NOTICE OF CREDIT Number: 11167

NAME NAME: Fit Max Vietnam Joint Stock Company

Dear: Fit Max Vietnam Company We would like to announce that your account is credited:

Effective date Amount of money

TVST Service and Technology Transfer Company repayment of goods

(Signature, full name) (Signature, full name)

Check and sign for approval

Diagram 1: Order of making and circulating vouchers and documents at the

Due to the accounting of cash, it is made into 3 copies as follows:

Contact 1: The customer brings the cashier to pay.

Contact 3: Keep at the accounting department.

Receipt is used in case customers come directly to the company to buy goods at retail stores or for irregular customers and trade in small quantities.

Previously, when the transaction volume was not much and the banking activities were not developed, the company mainly used receipts But now most customers use the form of payment via bank just fast, convenient and consistent with the provisions of the state

VAT invoice, delivery bill, collection receipt, credit note

Diary of vouchers No 8 Account 511 detailed book

Record daily Remember the end of the month

Collate and check Balance sheet of arising accounts

Diagram 2: Order of bookkeeping for Sales revenue accounting

2.1.2 Accounting of Revenue in details

The company offers direct sales and services to customers, ensuring immediate transaction completion Upon delivery, customers either pay on the spot or sign an acceptance record on the invoice, confirming the payment agreement At this stage, the goods are considered consumed, and the transaction is officially recorded in the company's accounting system.

Daily, based on accounting vouchers such as VAT invoices,DELEVERY BILL, PT, GBC, the accountants will record them in the sales detail.books.

Unit: CP Fit Max Vietnam Company

BOOK DETAILS OF SALE FOR TRAINING SHIRT

Number Day Amoun t Unit price Into money Tax

Unit: CP Fit Max Vietnam Company

No Name of cave Revenue

Discount sales first Training shirt 84,000,000 84,000,000

Along with detailed accounting, the company also performs general accounting for sales To reflect the turnover of sales in the period, the Company uses the following accounts:

ACCOUNT 632 - Cost of goods sold.

At the end of the month, accountants shall base themselves on the revenue summary table to record in VOUCHER DIARY No 8 Then fromVOUCHER DIARY No 8 make a ledger ACCOUNT 511

Table 4: Diary of vouchers No 8

Unit: Fit Max Vietnam Joint Stock Company Form No S04a8-DN

Address: 18/2 - Ngõ 89 Thái Hà - Đống Đa - Hà Nội (Issued according to Circular 200) of the Minister of BTC)

Preparing General Accountant Chief Accountant

(Signature, full name) (Signature, full name) (Signature, full name)

Unit: Fit Max Vietnam Joint Stock Company

Model No.: S05 - DN Issued by decision TT200 / QD-BTC of the Minister of Finance

ACCOUNT 511 (Used in Diary form - Documents)

Credit to accounts, corresponding to this account

January February March December Addition

According to Vocher diary No 8 Cr

According Vocher diary No 8 Credit

Balance at the end of the month

Balance at the beginning of the year

Model No.: S05 - DN Issued by decision TT200's Minister of Finance

ACCOUNT 212 (For Diary form - Document)

According to VOUCHER DIARY No 1 -

Add up the amount arising 6,315,000

Sales returns at the Company arise when the wrong specifications, poor quality goods Accounting based on relevant documents to account for deduction of sales, VAT and accounts receivable of cutomer.

At the end of the accounting period, the whole returned goods shall be recorded as a decrease in sales in the period

Based on this data, the accountant records in the feasibility study No 8 - column of Credit in Account 5212

Table 7: Returned goods import note

Address: 2/18 - Alley 89 Thai Ha - Dong Da - Hanoi

Customer: Mr Pham Thanh Long

According to: DELEVERY BILL 392 dated December 20, 2019

Imported at warehouse: 93 Duc Giang

Unit price of sale into money

Accord ing to docum ent

Add money (in words): Eight million

Number of original documents attached: 01 original document

Preparer of goods Delivery clerk Store chief accountant

(Signature, full name) (Sign, Full name) (Signature, full name)

Simultaneously with accounting accounting sales revenue, the Company also opened a payment details book with the buyer.

Establishment of making detailed Book of payment with buyers: This book is opened for each specific customer, and regularly monitors the accounts receivable of the Customer in order to promptly urge the customer to pay the goods.

Every day, based on the added value invoice and sales detail book, account in the Payment Details Book with the buyer opening for each customer

When customers pay for goods, the accountants shall base themselves on cash vouchers, bank documents and other relevant documents to record them into the payment book with buyers.

At the end of the month, based on the total data on the "Detailed payment book with the buyer" for each customer, the accountant may make one entry on one line to the Schedule No 11 -Collections of customers.

After closing the list of List No 11, determining the arising amount on the Credit side of Account 131, the accountant shall take the total number of the List 11 to record in VOUCHER DIARY No 8 - the column recording Credit Account 131 reciprocating Debit of related accounts

Based on VOUCHER DIARY No 8, the accountant determines the total amount arising on the Credit side of Account 131 to record in the Ledger of Account 131 and the arising amount of Debit in Account 131 and is reflected in detail by each reciprocal account

Address: 2/18 - Alley 89 Thai Ha - Dong Da - Hanoi

Full name of the submitter: Mr Tran Van Hung - Nam Ha Joint Stock

Address: 20 Hàng Cot, Hoan Kiem, Hanoi

Reason for payment: Payment for goods

In words: Thirteen million six hundred and ninety five thousand dong

Payer Cashier Chief Accountant Director

Table 9: Payment details book with buyer

Unit: Fit Max Vietnam Joint Stock Company Form No S31-DN

Address: 2/ 18 - Alley 89 Thai Ha - Dong Da - Hanoi Issued according to Circular 200/ 2014

BOOK DETAILS PAYMENT WITH BUYER

ACCOUNT: 131 - Trade receivables Subject: TVST Company Calculation unit: VND

SH NT Debit Credit Debit Credit

Balance at the beginning of the month 150,260,000

10/12 GBC03 10/12 TVST Company pays the previous period debt 112 100,260,000 50,000,000

12/20 GBC11167 12/20 TVST company pays the goods in the month 112 226,600,000 50,000,000

Balance at end of March 98,438,200

(Sign, full name) (Sign, full name)

Table 10: Summary of payments with buyers

SYNTHESIS BAR ACCOUNTING WITH BUYER Account 131 Receivables from customers

Opening balance Number incurred Ending balance

Debit Credit Debit Credit Debit Credit

Preparing General Accountant Chief Accountant

(Sign, full name) (Signature, full name)

Unit: Fit Max Vietnam Joint Stock Company Form No S04b11-DN

Address: 2/ 18 - Alley 89 Thai Ha - Dong Da - Hanoi Issued under Circular 200/2014

Balance at the beginning of the month

Debit in Account 131, Credit in Accounts Credit in Account 131, debiting Accounts Balance at the end of the month

(Signature, full name) (Signature, full name)Figure 2: Ledger of Account 131

Model No.: S05 - DN Issued by decision TT200's

ACCOUNT 131 (For Diary form - Document) Year: 2019 Unit: VND

Credit to accounts, corresponding to this account January February …… November December Addition

According to VOUCHER DIARY8 - Credit Credit

According to VOUCHER DIARY10 - Credit to

Add up the amount arising 1,529,462,000

Accounting for cost of goods sold

Documents used in cost of accounting at Fit Max Joint Stock Company include:

Every day when there are sales transactions arising, accounting will be recorded directly on the delivery note After comparing with VAT Invoice and economic contract, sales accounting and merchandise accounting will start recording.

For example: On 20/12/2019, the company sells toTVST Company, according to VAT invoice No 000198, has the following goods sold:

Accounting for delivery of warehouse orders No 390 dated 20/12/2019 delivery TVST Company We have DELEVERY BILL:

Unit: Fit Max Vietnam Company Form No 01 - VT

Number: 390 Name of the consignee: Tran Thi Lan

Address (department): TVST Service and Technology Transfer Company.

Exported from warehouse (compartment lot): Company Place: 135 Nguyen

Names of specifications of products and goods

Unit price into money Request Actually imported f i r s t

Amount written in words: One hundred and ninety two million dong /

Number of original documents attached: ………

Process of handling vouchers and accounting entries

Process of organizing delivery note:

+ DELEVERY BILL is written by the accountant or the person in charge when he wants the goods Upon delivery, it must be based on the causes of export through source documents, including: warehousing orders, sale invoices, contracts for the supply of products, goods and services

Following is the process of circulating Delivery Receipt:

Step 1: The person in need of goods makes an application for export or issue an export order for the goods.

Step 2: Transfer to the business owner (Director) or in charge of the unit that approves the export order.

Step 3: In charge of the department or accounting of goods, based on the export proposal or export order, prepare a delivery note.

Step 4: Transfer the delivery note to the store keeper to carry out the goods; After that, sign the Delivery Log and then deliver the voucher back to the merchandise accountant

Step 5: Upon receipt of the Delivery Voucher, transfer it to the Chief Accountant to sign and approve the documents and record them in the accounting book.

Step 6: Present the Delivery Receipt to the Head (Director) for signing documents, usually for periodic signing, because the documents have been approved for export from the beginning, so the Head only checked and signed for approval.

Step 7: Accounting of goods will conduct preservation and record keeping.

Diagram 3: Book entry cost of cost of goods sold

Diary of vouchers No 8 ACCOUNT632 detailed book

Collate and check Balance sheet of arising accounts

2.2.2 Detailed accounting of cost of goods sold.

Our company specializes in direct sales and service provision through our warehouse network During delivery, customer transactions are documented using delivery notes and delivery records, ensuring accurate tracking Once goods are delivered and accepted by customers, they are recognized as consumed and promptly recorded in the cost of goods sold, reflecting efficient inventory management and sales reporting.

The company's products are mainly sold through warehouses, so the cost of goods sold is determined by the following formula:

Cost of goods sold = Actual purchase value of merchandise delivered + Purchasing expenses allocated to inventory Inside:

Actual purchase value of merchandise delivered from inventory is calculated by the method First in – first out.

+ The method of calculating the actual import first in - first out price: According to this method, the actual warehousing unit price of each import must be determined Then, based on the amount of ex-warehousing, the actual ex-warehousing price shall be calculated according to the principle and calculated according to the actual first-in-charge price for the first-time ex- warehousing The remainder (total deliveries - the volume of previous import) is calculated according to the actual unit prices of each subsequent import. Therefore, the actual price of goods in stock at the end of the period is the actual price of materials imported in the last purchases.

Specifically, the actual purchase value of items from Austria Tap which are sold through warehouses in December 2019

At Fit Max Vietnam Joint Stock Company in December 2019, the situation of increase and decrease of Austria Tap products is as follows:

Quantity: 2000 pcs Review: VND 64,000 / unit

Quantity: 12000 pcs ĐG: 66,000 VND /Pcs

3 Export situation in the month:

6th/ 12: Export 2000, according to DELEVERY BILL No 375 onDecember 6

10th/ 12: Export 1300: Follow DELEVERY BILL No 380 dated 10/12 17th/ 12: Export 3000 Item according to DELEVERY BILL No 382 dated December 17

Date 20/12: Export 2000, according to DELEVERY BILL No 390 dated 20/12

Date 21/12: Export 3300 Item according to DELEVERY BILL No 394 dated 21/12

Date 30/12: Export 500 items according to DELEVERY BILL No 399 dated 30/12

+ Actual purchase value of T shirts delivery:

Date 20/12 = 2000 VND x VND 66,000 / pcs = VND 132,000,000

On 30/12 = 500 VND x 66,000 VND / pcs = VND 33,000,000

The total actual purchase value of the item = 788,000,000 VND

Austria Episode out of stock

+ Actual value of Austria Tap inventory items on December 31:

The cost of goods sold by Training

The total actual purchase value of the items Shirt ex-stock

Storekeepers record in the warehouse card tracking in terms of quantity.

Unit: Fit Max Vietnam Joint Stock

Address: 2/ 18 - Alley 89 Thai Ha - Dong

Model No.: S12 - DN Issued according to the Circular 200/2014

Sheet number: 15 Commodity Name: Training Shirt

Plus the end of the month

- This book has… page, numbered from page 01 to page…

Based on accounting vouchers such as VAT invoice, Delevery Bill,… Every day the accountant will record in cost details books From the detailed book of Costs at the end of the accounting month, make a summary of Cost of goods sold.

BOOK DETAIL ACCOUNT 632 Product Name: Austria Tap

Number Day Amount Unit price Into money

The establishment Chief accountant Manager

(Signature, full name) (Sign, full name) (Sign, full name)

Table 13: Summary of goods export

No Name of goods Unit of calculation

31 months 12 of 2019 Preparing chief accountant

2.2.3.General accounting for cost of goods sold.

Daily, the accountants shall base themselves on vouchers such as: DeleveryBill, VAT invoices to List No 8 From List No 8 and a summary of cost of goods sold, accountants shall make a Diary of voucher No 8 At the end of the month from Accounting Diary No 8, accounting, making ledgerACCOUNT 632,156

Address:2/ 18 - Alley 89 Thai Ha - Dong Da - Hanoi

Form No S04b8-DN (Issued in accordance with Circular 200/2014)

Balance at the beginning of the month: 425,000 Calculation unit:

Debit in Account 156, Credit: Credit in Account 156, Debit in Account:

Amount Price Amount Price Amo unt Price Amo unt Price

Improt due to external purchases 792,000 792,000

Y BILL 381 10/12 Exported to JSC TVST 33,200 33,200

PNK 141 12/16 Import due to external purchases 321,000 321,000

PNHTL06 12/25 Enter the returned item 5,718.5

Balance at the end of the month: 706,141.5

(Sign, write full name) Chief accountant

Model No.: S05 - DN Issued by Circular 200/2014

Add up the amount Debit 2,360,310,000

Model No.: S05 - DN Issued by Circular 200/2014

ACCOUNT 632 (Used for Diary form - Document)

Credit to accounts, corresponding to this account January Februar y March December Addition

VOUCHER DIARY No 8, Credit Cr 156 2,079,168,500

Add up the amount Debit 2,079,168,500

Accounting for Selling and Administrative Expenses

In Fit Max Vietnam Joint Stock Company has selling expenses of the Company, including:

+ Shipping costs to the delivery location as required in the contract + Salary expenses include salary costs and salary deductions

+ Depreciation expenses of fixed assets used at the sales department + Expenses for services purchased from outside such as: Phone charges

VAT invoice, Payment slip, Debit notice

Diary of vouchers No 1, 2 ACCOUNT641 detailed book

Balance sheet of arising accounts

Diagram 4: Order of booking of Cost of sales

Table 17: Salary distribution and social insurance

Unit: Fit Max Vietnam Joint Stock Company Form No 11-LĐTL

Address: 2/ 18 - Alley 89 Thai Ha - Dong Da - Hanoi Issued

WAGE DISTRIBUTION TABLE AND SOCIAL INSURANCE

Address: Hoan Kiem Branch Account number: 1402251254123_ Techco Bank

Phone: 024.63653566 Form No 01GACCOUNT T-3LL01 VAT INVOICE Symbol: AA / 2011T

Full name of buyer: Fit Max Vietnam Joint Stock Company

No Names of specifications of goods and products MS Unit Amount Unit price into money first Pay fixed phone charges 11255 Minute 3,000 VND

Amount written in words: Two million nine hundred and seventy thousand dong

Buyer Invoice writer Stocker Chief accountant Unit heads

(Signatur) (Signature) (Signature) (Signature) (Signature)

Address: 2/ 18 - Alley 89 Thai Ha - Dong Da - Hanoi Form No 02-TT

(Issued in accordance with Decision TT200 of the Minister of BTC)

Have: ACCOUNT 111 Full name of recipient: Tran Van Hung

Address: MILITARY TELECOMMUNICATIONS COMPANY - Hoan Kiem Branch

Reason for payment: Payment of landline telephone charges - Sales department

Amount of money: 2,970,000 VND (In words): Two million and nine hundred and seventy thousand dong

Received the full amount (in words): Two million nine hundred seventy thousand dong

15th December, 2019 Manager Chief accountant Treasurer The maker Money receiver

(Sign, full name, stampu) (Signature, full name) (Signature, full name) (Signature, full name)

+ Currency exchange rate (gold, silver, gems): ……….

2.3.2 Detailed accounting of Selling and Administrative Expenses

During the accounting period, each expense item is meticulously tracked, with selling expenses derived from goods allocation tables and salary distribution records These expenses are then systematically documented in the voucher diary, specifically in Voucher Diary No 1, ensuring accurate financial recording and compliance with accounting standards.

No 2 and the related accounting books The accountant shall collect the sale expenses and record in the Detailed Book ACCOUNT 641

Reci proc al acco unt

1 HD0012 12/15 Phone costs in December

3 BTPBTL3 12/31 Calculate salary payable to employees 334 100,000,000

Deduction for Health insurance, Seling expenses, Social Insurance, Unemployed

Depreciation expense of fixed assets in December

In the accounting period, each enterprise management expense item shall be separately monitored through relevant documents such as VOUCHER DIARY No 1 and No 2, salary distribution table At the end of the accounting period, based on vouchers and books related to enterprise management expenses provided by other accounting units, recorded in detail book of Account 642

Number Day Debit Have fir st HD0013 12/15 Phone costs in

2 HD0020 12/25 Expenses for guest reception 111 3,000,000

Depreciation expense of fixed assets in December

5 BTPBTL3 12/31 Calculate salary payable to employees 334 200,000,000

6 BTPBTL3 12/31 Deduction for health insurance, KPCĐ, SI, UI 338 44,000,000

The establishment Chief accountant Manager

(Signature, full name) (Sign, full name) (Sign, full name)

2.3.3 General Accounting for Selling and Administrative Expenses

Based on the detailed book of Account 641, the accountant records inVOUCHER DIARY No 8 the column to record Credit in Account 641 Then,based on the VOUCHER DIARY No 8, to record in the Ledger Account 641.

Credit to accounts, corresponding to this account January Februar y March December Addition

According to VOUCHER DIARY No 7,

0 According to VOUCHER DIARY No 7,

According to VOUCHER DIARY No 7,

Income Summary

In order to determine the company's sales results, the accountant uses the relevant documents and ledgers of accounts The accounting of the company's sales results is made at the end of the month after transferring revenue and expenses in the period To monitor and record sales results, accountants use Account 911 "Business Results" From Vouchers Diary No 8 we write to the debit side Ledger Account 911

The sales results in December 2019 are determined as follows:

= 3,136,318,000 - 0 = 3,136,318,000 VND + Gross profit = Net sales - Cost of goods sold

+ Results from sales activities = Gross profit - -

616,491,000 VND + CIT payable in December 2019:

According to VOUCHER DIARY No 8

0 Balance at the end of the month

Assessment the current accounting for Sales and Income Summary

- About the organization of initial accounting:

It is very appropriate for the Company to carry out the accounting of inventories on a regular basis, the accountants can monitor and reflect on a regular and continuous basis the movements of goods.

The company calculates the inventory price according to the first in first out method.

The accounting and declaration of VAT is done accurately, clearly and strictly The company always correctly and fully calculates the payable VAT amount into the State budget At the same time, the forms for designing VAT declaration forms are in compliance with the current regulations and updated according to the changes of the Ministry of Finance That makes tax authorities convenient to check and track The accountant must check carefully before printing the report and submitting the monthly VAT declaration to the Tax Department

- Organizing the system of vouchers and accounting accounts:

Every day, when economic transactions arise, the relevant accounting department reflects on the accounting vouchers and proceeds to input data into the machine The original documents used by the Company to record the arising sales operations such as: Receipt, VAT invoice, delivery bill, are all made completely, exactly on time, with a confirmation signature of relevant departments, in accordance with the financial regulations In addition, the process of handling and order of document rotation is scientifically and logically organized by the accounting department, avoiding overlapping, which helps to record the sales process and sales results quickly.

Document retention is taken care of properly At the end of the financial year, accountants print all kinds of accounting books from the accounting software, ask for signatures of related persons, affix the stamps and make a bound book Original vouchers for each financial year such as: VAT invoices, receipts, payment notes, delivery bills, all accounting books are kept at the same time to mark the year to avoid misplaced and mixed documents of the years.

- Accounting order: The method of accounting for sales operations at the Company is strictly based on accounting principles according to accounting standards

The company has consistently focused on strengthening its market position by leveraging its strengths and addressing weaknesses Accurate and rapid financial information is vital for assessing revenues, expenses, and overall business performance Despite a small accounting team, dedicated accountants work diligently, collaborating to ensure precise revenue and cost accounting and accurate determination of business outcomes.

Regarding the accounting of sales and determination of sales results at the Company: Compliance with the Vietnamese enterprise accounting regime.Accordingly, revenues and expenses are accounted for strictly in the economic content and ensure the basic principles of accounting such as accrual basis, prudent principle

The accounting vouchers for accounting of revenues, expenses, and business results are fully and properly gathered The accounting vouchers are concentrated in the accounting department to help the cost accounting and determine business results are favorable.

The accounting account system reflects revenues, expenses, and determines whether the company's business results are opened in details in accordance with the accounting conditions at the company It is perfectly reasonable to separate sales expense and enterprise management expenses according to arising expenses That is also the basis for making a Management Accounting Report advising the Company Director about the business plan, managing the cost of each type of goods so that it is reasonable.

Despite the benefits derived from the organization of sales accounting, the profession still faces limitations, disadvantages, and shortcomings that need to be addressed Challenges encountered by the company highlight the necessity for continuous improvement to enhance the efficiency and effectiveness of sales accounting processes, ultimately supporting the company's overall business operations and growth.

- About the organization of initial accounting:

There are many cases where invoices and vouchers are transferred slowly to the accounting department, which affects the accounting progress of accounting departments related to the arising economic operations.

Accounting for opening accounts of grades 2 and 3 is not really reasonable, so the detailed management of each content is not very scientific.

The company does not open the detailed account of Account 156, but adds both the purchase value and the purchase cost to Account 156 So it is difficult to determine what is the purchase price, what is the purchase cost.

Recommendations to improve the accounting for Sales and Income Summary

- The company should take measures to reduce the redundant paperwork that will save time, costs and increase labor productivity.

- Must comply with the current financial and accounting regimes It is required to ensure the consistency among financial indicators, consistency on the system of accounting vouchers, accounting accounts, accounting books and accounting reports.

- There must be a close coordination between the ministriesn in the Company.

- Provide complete, timely and reliable information about supermarket sales activities for leaders

Currently, the company uses a unified account system but the opening of second and third grade accounts is not reasonable Therefore, in order to ensure the good accounting of revenue, the company accountant should open a detailed account according to each content of the revenues and expenditures so that it is convenient for monitoring and checking.

- Open account level 2 for account 156:

Account 1562 - Cost of purchasing goods

At the end of the period, record the distribution of purchase costs for that goods in the period by the following formula:

Purchasing expenses allocated to goods sold

Merchandise purchasing expenses at the beginning of the period

Purchasing expenses incurred in the period x

Purchase value of goods sold in the period

Purchase value of goods left at the beginning of the period

Purchase value of goods sold in the period

Providing management accountants with accurate data creates a solid foundation for analyzing future business trends, enabling leadership to make informed decisions on market investments and product development This strategic approach enhances overall business efficiency by identifying growth opportunities and optimizing resource allocation Leveraging these insights helps companies stay ahead of market changes, maximize profitability, and achieve long-term success.

The actual capital value of goods Delivery is based on quantity goods warehousing and average unit price, according to the following formula:

Actual cost of inventory Quantity of merchandise out x Weighted average unit price

Average unit price Actual cost of capital goods beginning of the period + The actual capital value imported in the period Amount goods beginning of the period + Quantity goods during the period

3.2.3 Accounting vouchers and accounting vouchers flow

The original documents when being transferred to the company's office need to be classified separately arranged by category, each content for the monitoring and reconciliation of data to enter the related tables and records.

Fit Max Joint Stock Company should stipulate the amount of document circulation time for parts according to the importance and importance of documents to ensure faster document rotation time to help the activities of the Company goes better.

The company can use more samples of sales invoices cum delivery bills so it will be more convenient in the process of using, checking and comparing documents In the VAT invoice, there is sufficient information about quantity and amount At Fit Max Joint Stock Company currently using machine accounting, the use of sales invoices cum delivery notes will be more convenient because the information has both been fully recorded and disinfected documents At that time, the accountant will enter the sales invoice into the shipping invoice in the computer.

- At present, Fit Max Vietnam Joint Stock Company is applying the journal-document according to the Company, so the Company should change the accounting form to the General Journal using machine accounting so it will be simpler in the accounting process and compliance in the conditions that the Company applies machine accounting.

- The Company should apply the General Journal accounting form because: o General journal accounting form has the following advantages: o Simple book form, the record is simple and easy to facilitate the comparison of economic transactions. o Ensure uniformity and accuracy in manual accounting and machine accounting.

Convenient for accounting labor division.

* Form of general journal accounting includes the following main types of books:

 General journal and Special diary book

 Detailed accounting books and cards.

* Order of accounting in the form of General Journal.

Diagram 5: Accounting order in the form of a general journal

Record at the end of the month, or periodically:

- Detailed book of sales details and cost of accounting book of theCompany can now add the criteria of the previous period so that theCompany can easily compare and facilitate the comments and assessments At the same time, revise the template of the Summary of detailed sales book to make it consistent with the columns: Sales revenue, sales deduction, net revenue, cost of goods sold so that users can have general information suitable and necessary types of products and goods

Diagram 6: Summary of sales details

3.2.7 Conditions to implement proposed solutions

Advancements in science and technology are transforming numerous industries, including accounting The integration of computers enhances accuracy and speed, allowing accountants to provide reliable information more efficiently Compared to manual bookkeeping, digital solutions reduce labor, cut costs, and minimize errors caused by duplicated or confusing records Utilizing machine technology streamlines data management, making information easier to modify, store, and access—ultimately saving time and increasing overall efficiency in the accounting process.

- Currently at Fit Max Vietnam Joint Stock Company, the accounting department is equipped with computers, printers, accountants who use computers only in making the final settlement reports, up the asset summary, reports consumption, tables of NVL help accounting work at the company better Due to the high workload, the application of computers in accounting is essential - saving time and labor.Therefore, the company should install software programs for its accounting work Currently, there are many software on the market such as Fast, Effect, E-Asplus3.0 Depending on the type of company, the company will install the software so that the management is effective Best

- Above are some recommendations around the issue of perfecting accounting in general, sales accounting and determining sales results in particular of Fit Max Joint Stock Company It is expected that it will contribute a small part to the increasingly improving accounting accounting at the company, promoting strengthening the supervisory function of accounting for production to achieve high economic efficiency.

Sales accounting and determination of sales results are both theoretical and practical With the function of providing information and checking, controlling production and business activities of enterprises, sales accounting and determining sales results, it is really an effective tool for reflection and supervision situation of goods fluctuation and consumption process of enterprises Therefore, perfecting the accounting in general, sales accounting and determining sales results in particular is an indispensable Especially in the economic environment where transformation and consumption of goods have become a top concern, the organization of accounting of sales and determination of sales results requires more and more complete improvement.

During my internship at Fit Max Vietnam Joint Stock Company, I realized that the Company organized and gradually organized sales management and accounting and determined sales results in order, contributing to improving the efficiency of management activities as well as for production and business activities of the Company

Tiêu đề	Improving Accounting for Sales and Income Summary at Fitmax Vietnam Joint Stock Company
Tác giả	Nguyễn Đức Cường
Trường học	National Economics University
Chuyên ngành	Accounting
Thể loại	Bachelor thesis
Năm xuất bản	2020
Thành phố	Hanoi

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