Salary accounting research project and current salary deductions at Nhat Minh Business Management Consultant Limited Liability Company

Salary accounting research project and current salary deductions at Nhat Minh Business Management Consultant Limited Liability Company Salary accounting research project and current salary deductions at Nhat Minh Business Management Consultant Limited Liability Company Salary accounting research project and current salary deductions at Nhat Minh Business Management Consultant Limited Liability Company Salary accounting research project and current salary deductions at Nhat Minh Business Management Consultant Limited Liability Company Salary accounting research project and current salary deductions at Nhat Minh Business Management Consultant Limited Liability Company Salary accounting research project and current salary deductions at Nhat Minh Business Management Consultant Limited Liability Company Salary accounting research project and current salary deductions at Nhat Minh Business Management Consultant Limited Liability Company Salary accounting research project and current salary deductions at Nhat Minh Business Management Consultant Limited Liability Company current salary deductions

I assure you that this is my research The data, the result and the research results stated in the thesis are honest and come from the real situation fact of the internship unit and has never been used in any thesis.

Student

Lê Chung Khánh Linh

Full name: Nguyễn Thị Hồng Vân

Department: Accounting Department

statement of financial position

statement

Unemployment insurance

TABLE OF CONTENTS

1 Urgency of the subject

In our country the appearance of a market economy has created opportunities for many companies However, it also forces companies to want to develop stably in the market In order to manage production and business, it is necessary

to make maximum efforts In this new trend, companies must mobilize on their own, must operate on their own production and business on the principle of revenue and expenditure and profitable business but not subsidies of the State asbefore From there, the top target of the company is increasing profits within theprescribed legal framework

In the production process, three factors can not be shortage is living labor, private production materials and labor subjects In three factor, living labour plays the most important role Because without workers it is impossible make material wealth, want a product whether it's a physical product or a production intellectual property is in addition to the cost of materials, the cost of fixed assets The company must also take into account labor costs (living costs) Expenses this fee is not small in the price of the product, it is also directly determined quality products Because the employee is the one who directly decides to the quality of the company's products, which the company operates effectively whether or not there is competition in the market or not, it needs to

be created the products are of good quality

For employees, wages have an extremely important meaning because it is the main source of income to help them ensure their own life and family Therefore wages are the driving force for employees to pay attention labor time, labor productivity if they are paid according to the labor force they spend On the contrary, it can also reduce labor productivity the production process slows down, ineffective if the wages they receive not worth the labor they spend

On the whole economy, wages are more specific of the process distribution of material wealth made by workers Therefore, the construction of the wage scale,payroll, select the appropriate form of payment so that salary is the income for the employee to work better and be responsible more tasks than real work is needed

Recognizing that urgency, and passing time through practical research at Nhat Minh Business Management Consultant Limited Liability Company , continued

I was exposed to the accounting work at my company that saw the importance

of accounting salary and salary deductions should have been deeply studied and selected the theme for his graduation thesis is: “Completing wage and

accounting salary deductions at one-member limited liability company for project exploitation Nhat Minh irrigation work "

2 Object and research purpose

- Subject of research is: Salary and accounting Salary deductions of trade

companies, which go into depth form of salaries and salaries deducted from one member limited liability company exploitation of Nhat Minh Business

Management Consultant Limited Liability Company

- Research purpose of the topic:

+ Present systematically and clarify the theoretical issues

The table applies to salary accounting and salary deductions at public places

ty in general

+ Study on the current situation of wage accounting and salary deductions

at Nhat Minh Business Management Consultant Limited Liability Company + Based on theoretical and practical surveys at the Company to propose theseProposals to improve salary accounting and salary deductions

5 The structure of theory

Note 3 chapters:

Chapter 1: General theory of accounting for salary and salary compensation in business

Chapter 2: Accounting for salary and salary compensation at Nhat Minh

Business Management Consultant Limited Liability Company

Chapter 3: Improvement to accounting for salary and salary compensation at Nhat Minh Business Management Consultant Limited Liability Company

Due to the short internship at the Company, awareness of reality is limited so

my thesis cannot avoid defects I look forward to it get input from teachers and siblings in Nhat Minh Business Management Consultant Limited Liability Company My essay is more complete

Finally, I would like to sincerely thank the Department of Planning and Finance,Management board and other functional departments in Nhat Minh Business Management Consultant Limited Liability Company exploited Nhat Minh project was enthusiastically helpful, providing necessary data to help me

complete this thesis I would like to thank the teachers of the Accounting

Department Special Academy of Finance is the teacher: MSc Nguyen Thi HongVan was dedicated to guide and help me complete this thesis

Thank you sincerely!

Student

Lê Chung Khánh Linh

CHAPTER 1:GENERAL THEOPRY OF ACCOUNTING FOR SALARY AND SALARY COMPENSATION IN BUSINESS

1.1 Overview of salary and salary compensation

1.1.1 Labor concept, salary and salary compensation

* Labor: is the consumption of labor force in reality Labor is purposeful, conscious operation of people to create products for the needs of social life Labor is the most special activity human creative activity

* Employees are those who work for wages and labor or the mind that makes physical or mental products for others

* Salary: labor cost is formed by agreement between employee and

employer are in accordance with the relations and regulations laws in a market economy

In Vietnam during the period of central planning, wages are understood as

a part of national income is used to offset the inevitable labor costs due to the House water distributed to officials and employees in the form of currency, in accordance with regulations labor distribution law Currently under Article 55 - Vietnam Labor Code Regulations on wages of employees are agreed by the two parties in the labor contract and paid for by labor productivity, quality and efficiency Wages are part of the social product represented by paid money for employees based on the number and quality of workers of all users to offset labor costs of all users to offset labor costs this is a practical issue for employeesproperly regulated, is the strong stimulus of production, it stimulates

like workers who strive to produce and work, improve skills and reform advanced techniques to improve labor productivity

Laborers after using their labor create products pay a certain amount of wages In terms of phenomena, we see the labor force brought trade for wages

So it can be considered labor is a commodity special chemistry And wages are the prices of those special goods, the goods labor force Because goods of labor need to be traded in the market labor based on agreement between buyer and seller, is subject to impact of the law of value, the law of supply and demand Hence labor prices will vary According to the prices of the constituent factors

as well as the supply-demand relation of labor, when salary are considered the value of labor, this price will form on basis of agreement between the employee and the employer Price labor dynamic or remuneration may increase or

decrease depending on the supply and demand of goods labor So wages often fluctuate but it must rotate around the value of labor as well as other common goods, it requires objectively ask for its correctness and validity Price on the other hand how wages fluctuate must ensure a minimum standard of living the employee can stay and continue working

Salary deductions include: Social Insurance, Health Insurance, Trade union funds, unemployment insurance

Social insurance:

Under the current regime, fund B X is formed by appropriation

The rate of 25.5% of the total wage must be paid to employees in each period math, where:

Employers must bear 17.5% of the total wage and salary included in operating expenses

The employee must bear 8% of the total salary by deduction

into their salaries

Workers incur 1.5% by deducting from their salaries.

Trade union fee:

Trade union funds are funding for trade union activities at all levels.According to current regulations Union funds are deducted at the rate of 2% of the total amount salary must be paid for each accounting period and included in the business and production expenses, including 1% for the

grassroots trade union and 1% for the upper union

Unemployment insurance:

Unemployment insurance is the amount of money businesses pay to workers when they suffer lost a job According to current regulations

Unemployment insurance is deducted at a margin of 2% of the total salary must

be paid for each accounting period in which the employer pays 1% is included

in the cost of production and business, the employee bears 1% how to deduct their wages

Funds on enterprises must be established and fully collected and paid quarterly a part of the expenditures of the enterprise social insurance fund is agency management authorized households on the basis of original documents, but must pay final settlement when submitting those funds quarterly to the agencies that manage them the above expenses only support at a minimum to help the laborers in sickness, labor accident

1.1 2 Labor, salary, salary compensation

Labor is an indispensable factor in production and business activities This is a decisive factor to the quantity and quality of products of a business as well as decide on the business results of each enterprise Salary is closely linked

to the interests of workers It is the driving force like creative capacity, labor consciousness on the basis of which promote increased labor productivity Therefore, wages on the one hand are closely linked to people's practical

interests labor and on the other hand it confirms the position of the employee in company Therefore, when receiving adequate salaries, the salary payment of the business fair and equitable industry will motivate the production process andthus increase labor productivity will increase, product quality will be improved, thereby revenue and business profits are constantly increasing

Management requirements for labor, salary, salary compensation:

Salary is the main source of income for workers and businesses

enterprises use salary as economic leverage to encourage the spirit of

accumulation extreme labor, is a motivating factor to increase labor

productivity

For salary, businesses have to pay employees one elements that constitute the value of products or services created by businesses In other words, it is the factor of production cost to calculate the product cost Therefore, businesses must use labor force effectively to save expenses labor costs in the product unit, service work and goods flow

Salary management is an important content in the work production and business management Well- organized labor and salary accounting for the labormanagement of enterprises to go into order and motivate labor observes labor discipline well, increases labor productivity, and at the same time it is basis for calculating salary according to the labor distribution principle

Therefore, the correct calculation of labor remuneration both full and timely payment for the employee is very necessary, it stimulates the employee

to be devoted to the labor work, improve labor quality On the other hand, the calculation is correct and accurate labor costs also contribute to the correct part

of the cost of the business and calculation correct cost and product cost

To do so , this work must be based on management and monitor the process of mobilizing and employing employees in production and business activities of enterprises The employer mobilization is considered reasonably when different types of labor require management measures and different uses

So the labor classification is very necessary for every business, depending on the different types of businesses and different labor classification

In short, the organization of the work of salary accounting and deductionssalary helps businesses manage salary fund well, ensure salary payment and social insurance allowances are in principle, in accordance with the regime, and stimulate employees to return into the assigned task, at the same time creating a basis for the allocation of multiplication costs which do the cost of the product

to be accurate Enterprises must have policies about reasonable wages to save labor costs for businesses but not so that reduce wages of workers Well

organized accounting work salary workers help businesses manage salary fund well, ensure the payment salaries and social insurance allowances are in

principle, in accordance with the regime and incentives the employee completesthe assigned task, at the same time creates the basis for the job accurately

allocating labor costs to product prices

Duties of salary accounting and salary deductions

Salary accounting tasks include the following basic tasks:

- Organize to record, reflect and synthesize data on the number of

employees, time of labor results, wage calculation and deduction of salaries and allocations labor costs are in accordance with the subjects of employment

- Instruct and check the accounting staff in the production and business departments, the departments fully comply with the initial records labor, wages

in accordance with the regime and the right method

- Organize to record, reflect and synthesize data on the number of

employees, time of labor results, wage calculation and deduction of salaries and allocations labor costs are in accordance with the subjects of employment

- Making reports on labor, salary and salary compensation periodically analyzes labor situation, situation of management and spending of salary and supply salary’s fund information to management in a timely manner

- The cost of labor, salary and the salary compensation is not only a

matter of business attention because it is an expense of businesses but also the workers Especially, because this is the main is in their interest, workers use salary to stabilize their lives goods, for their daily necessities

- Organize to record, reflect and synthesize data on the number of

employees, time of labor results, wage calculation and deduction of salaries and allocations labor costs are in accordance with the subjects of employment

1.2 Forms of salary and salary compensation

1.2.1 Form of salary

1.2.1.1 Pay salary by time:

Is a form of compensation for employees based on working time, wage level (position) and wage scale (wage coefficient) This form is mainly

applicable for indirect workers, stable jobs or maybe for workers directly

without product norms

In the enterprise, the salary form from time to time is applied to office staff such as administrative administration, labor organization, statistics,

accountancy-accounting Time-based payment is a form of compensation for employees which depends on actual working time, industry and level of successprofessional proficiency, professional technical skills of the employee

Depending on each job, the nature of the job is specific so that the

enterprise uses different wages Professional and technical proficiency in

division into several wage scales, each with a certain level of wage, that is the square root for salaries, wages over time can be divided

+ Hourly Wage:

Hourly rates can be calculated directly to pay hourly rates or based on day rate for overtime allowances for employees

Direct hourly pay is the same as hour after hour for lecturers

Overtime allowances are calculated on a daily wage basis

Example: Daily wage is VND 40,000

An employee works overtime 5 hours

The time-based wage regime with a limited presence is neutral military, sometimes do not match the actual labor results of workers

Salary regimes over time:

It is simple time wage

Salary based on bonus period

Simple form of time-based payment: It is the wages received for each worker, it depends on the high or low wage level, and the time their work is more or less decided

Salary based on bonus period: It is the salary calculated according to simple time plus the bonus they are entitled to

1.2.1.2 Form of salary by product:

Different from salary form over time, salary form the product performs the payroll calculation for employees according to quantity and quality number

of completed work products

Total salary payment = Unit salary/Number x the number of finished good

Salary according to products:

Form of salary based on direct product:

Salary paid to employees is calculated directly based on quantity

completing products in accordance with quality specifications and unit wage specified, not subject to any restrictions

For the Company, this salary is not applicable because it is public trading company

Total salary payables = Actual number of completed products * unit price of salary

+ Indirect product salary:

Is salary paid to indirect workers in the production department, such as maintenance machines and equipment, they do not directly create products but they indirectly affect to direct labor productivity so they are paid based on results of direct labor to calculate salary for indirect labor

In general, this form of compensation based on indirect products is not allowed exactly, there are many limitations, and not practical work

+ Salary based on bonus products:

In this form, salary according to the direct product if labor is also

rewarded in production, bonuses for increasing labor productivity, material saving

This salary-based salary form has the advantage of being a promotion encourage enthusiastic workers to work, increase labor productivity and benefit businesses as well as employees' lives improved

+ Salary according to accumulated products:

In addition to direct product pay, there is also a part of the bonus

calculated on the basis of an increase in unit salary rates at high productivity levels This form of salary has advantages to stimulate advanced workers labor productivity, maintaining labor intensity at the maximum level, to solve it promptly time-limit prescribed by order, by contract

However, this form of salary is also inevitable increase the cost of labor

in the product cost of the business industry, so that only be used when it is necessary to complete an order or pay workers at the most difficult stage to ensure their stability sets for production

In short, the form of salary over time has many limitations not attaching salary to labor outcomes and quality, and lack of stimulation workers To

overcome, these limitations in addition to organizing by track and record full working time of employees, combined with the regime reasonable reward

Compared to the salary form over time, the salary form follows the

product has more advantages Fully understand the principle of salary payment according to the quantity and quality of labor, closely link salary income with the result of production by workers

Stimulating labor productivity, encouraging workers to promote creativityimproves production techniques, so this form is used quite spacious

1.2.2 The form of salary compensation

1.2.2.1 Salary fund

Salary fund is the entire amount payable to all types of laborers managed and used by enterprises, both inside and outside the enterprise According to the proposal No 235 / ĐBT of September 19, 1985 of the Council of Ministers (now the Government), salary fund includes the following:

- Monthly, daily salary based on the salary scale coefficient of the State

- Salary paid by product

- Daily remuneration for off-pay workers

- Salary paid to employees when making defective products inside rule

- Salary paid to employees during the work stoppage due to equipment the machine stopped working for objective reasons

- Salary paid to employees during the time of work assignment or doing the obligations of the State and society

- Salary paid to employees taking periodical leave, vacation leave regime

of the State

- Salary paid to people who go to school but still on the payroll

- Types of regular bonuses

- Allowances according to the prescribed regime and other allowances arerecorded in salaries

In terms of accounting, salaries for employees in the business production industry is divided into two types: main salary and extra salary Salary is the salary paid to the employee in time employees perform their main task, meaningtime is wasted really labor includes salary based on wages and allowances attached (responsibility allowance, area allowance, overtime pay ) Extra salary is the salary paid to employees during the time of performing the duties cases other than their main tasks and the time employees are entitled to leave benefits (vacation, pay time off, go to school, go to meetings, take time off work ) Besides salary paid to workers producing defective products within the prescribed regime It is also classified as extra salary

The division of salaries into main and supplementary salaries makes sense to be important for accounting and wage analysis in production costs export The main salary of production workers is associated with the production process These products are directly accounted for in the production costs of each type of product Salary of production workers are not associated with each type of product, so indirect accounting shall be accounted into production costs

of each type of product according to a pepper certain attribution criteria Salary fund spending management must be in relation to the implementation

production and business plan of the unit in order to both spend economically and reasonably salary funds have to ensure the completion and exceed the

production plan

1.2.2.2 Social insurance fund

According to the concept of the International Labor Organization (ILO), social insurance is interpreted as fact protection of its member society, through aseries of public measures plus to combat socio-economic difficulties due to loss

or reduction of revenues enter, caused by illness, disability, old age, illness, death

Social insurance is a system of 3 levels:

1st level: is the base floor to apply to everyone, every individual in the commune festival In which the request is poor, despite the possibility of social insurance contributions These people are very low, but when required, the Statewill still subsidize

2nd level: A mandatory floor for people with stable jobs

3rd level: Is voluntary for those who want to contribute high social

insurance

In terms of subjects, social insurance previously applied only to

businesses the state Currently, according to Decree No 45 / CP, the social insurance policy is applied for all economic sectors (2nd level) for all members

of the Commune Association (1st level) and for everyone with high income or conditions to participate social insurance to enjoy higher social insurance

benefits At the same time, the social insurance regime still rules define the obligation to contribute to those who are entitled to preferential treatment The amount that social members contribute to form the social insurance fund

Pursuant to Decree

No 43 / CP of June 22, 1993 temporarily stipulating the regime social insurance of the Government, social insurance fund is formed mainly from the contributions of employers, employees and a part of the State's support To manage and use of the social insurance fund must be consistent according to theregime of the State and on the principle of independent accounting According

to current regulations: Every month, enterprises make deductions social

insurance fund at the prescribed rate is 25.5% Inside:

+ 17.5% belongs to the responsibility of enterprises' contribution by deduction expenses of which: 3% to the maternity sickness fund, 1% to the accident fund labor, occupational diseases, 14% contribute to the pension and survivorship fund

+ 8% is the employee's responsibility to contribute by salaries Fund of social insurance is used to create funding sources for internal employees cases

of illness, maternity and sum up expenditures to settle with the agency

responsible

1.2.2.3 Health Insurance Fund

Health insurance is actually a medical benefit for the insured insurance to help them with some of the medical examination and treatment costs, hospital fees, money medicine month

In terms of subjects, health insurance applies to people who participate in health insurance through the purchase of insurance cards which are mostly employees According to the law of the current financial regime, the social insurance fund is formed from 2 sources:

+ 1.5% of the basic wage paid by the employee

+ 3% of the basic wage fund is included in the production costs of users labor bear

Enterprises must pay 100% of the health insurance fund to the fund

Trade Union is formed by setting up and calculating the costs of

production and business the enterprise's turnover is monthly, at the rate of 2% ofthe total actual wage payables to employees during the period In particular, the enterprise must pay 50% of the trade union fee collected to the upper Trade Union, the remaining 50% is spent at the trade union

1.2.2.5 Unemployment insurance

Every month, company pays to employees and deducts from monthly

salaries of employees to pay and social insurance fund with the contribution rate

of 2% Inside:

Enterprises pay 1%

Employee 1% of monthly salary

The lowest monthly wage to pay UI is the regional minimum and

The maximum level is 20 times the regional minimum wage

Subjects participating in unemployment insurance include employees with a term of full 3 months in all agencies and units If the employee is

reasonable with In many companies, the first company must be responsible for hiring UI

labor Labor contracts with a term of 3 months or more before the month 1/2015 that is valid in 2015 is not eligible for unemployment insurance so enterprises must carry out procedures for deduction of unemployment insurancefrom January 2015

The monthly unemployment insurance allowance is equal to 60% of the monthly salary paid Unemployment insurance for the 6 consecutive months before being unemployed, but not more than 5 times base salary for employees belonging to employees comply with the salary regime stipulated by the state

or no more than five times regional minimum wage as prescribed by the Labor Code for employees The implementation of wage regime shall be stipulated by the enterprise so, the monthly unemployment allowance is calculated according

to the following formula:

Benefit allowance monthly unemployment = Average salary of 6 consecutive months have paid UI before unemployment x 60%

1.3.1 Accounting of salary and salary compensation

The purpose of accounting labor in the enterprise to help labor

management is also to ensure accurate wages for each person labor The content

of labor accounting includes accounting of quantity of labor force, working timeand quality

Accounting of the number of employees:

To manage labor in terms of quantity, enterprises use "Books labor

monitoring of enterprises "is usually monitored by labor departments This book

accounting for the number of each type of labor by occupation, job and skill level (technical rank) of employees Labor Department possible make a general register for the whole enterprise and set up a separate section for each firm

current situation of labor allocation and employment in the enterprise

Accounting of labor time:

Accounting of working time is the job to ensure timely recording exactly the number of actual working days and working hours such as off days and stoppages jobs of each employee, each production department, each department enterprise On this basis, the salary must be paid to each person

The timesheet is the most important initial document for time accounting labor in businesses Timesheets are used to record working time actual month and absence of officials and employees in teams, teams, departments The timesheets must be made separately for each production group and each

department and use for one month List of employees recorded in the labor book

of each part is listed in the timesheet, their data must match The leader of the production team or the head of the departments is the one who directly records the scoreboard based on the number of employees present, absent at the

beginning of the working day in their units In the timesheet of the holidays as prescribed Tet, Saturday, Sunday must be clearly stated

The timesheet must leave a public place for employees supervise his working time At the end of the month, the leader and the gym leader use case situation for the accountant in charge Next employee check math and confirm daily on timesheets Then proceed to practice synthesize data and reports to the labor room division The end of the month, the timesheet is transferred to the wage accounting department to conduct calculations salary For cases of leavingdue to illness, labor accident, etc., it must be have sick leave certificates issued

by hospitals and health facilities As in case of stopping the day happened for any reason must be reflected in the record of job termination, clearly stating the cause of the suspension and the person responsible, as a basis for salaries and settlement of damages out These documents are transferred to the accounting department as a basis for calculating subsidies, after receiving the head of socialinsurance agency, the social insurance body shall base itself on the voucher to record it in the grading table work according to the specified symbols

Accounting of labor results

Accounting of labor results is an important content in the whole

management and labor accounting in manufacturing enterprises Work the process is to accurately record in time the quantity or quality of the product either the completed work volume of each individual and collective serves as a basis pay and pay exactly

Depending on the type and production characteristics of each enterprise, people use different initial documents to account labor results Initial documentsare commonly used to record labor results and confirmation of completed work products, contract Certification of completed work products is a digital

confirmation finished product (work) of the employee unit or individual This form is made by the assignor and must be signed by the assignor jobs,

recipients, product quality inspectors, and approvers

Ballots are transferred to wage accounting for wage calculation applied inthe form salary paid by product

The work contract is the original contract of assignment case of

contracting work It is a contract between the employer and people contracted with workload, working time, responsibilities and interests of each party in doing so This voucher is the basis for the bar pay labor to the contractor The case when checking and receiving If the product is damaged, the quality controlofficer and the person in charge of the department of making broken report forms to serve as a basis for making a handling record Quantity and quality completed and tested jobs are recorded in accounting vouchers labor results thatbusinesses use, and after it has been signed and approved moving to salaries accounting department as a basis for calculating salaries and wages multiply

Payroll accounting with employees

Payroll accounting for employees based on evidence from labor time accounting (timesheets), labor results (lists workload completed, acceptance records ) and wage accounting conduct salary after checking the above

documents Salary work, bonus and other amounts payable to employees in the form of payment salary is applied at the enterprise, wage labor accounting tabulated salary payment (policy salary, product salary, extra payments

(benefits, benefits, insurance for each employee), bonus payment table

Wage payment table is a document used as a basis for salary payment, allowances for employees in the form of wages currently applied in the

enterprise the salary and salary accounting system of the labor force accountant shall be prepared policies, product salaries, allowances, benefits and insurance for each employee dynamic, bonus payment table

Salary payment table is a document used as a basis for salary payment, allowances for laborers working in production and business units Salary

payment table is paid for each department corresponds to the timesheet In the payroll table, each salary, employees are allowed to record a line based on their grade, salary and working time salary calculation for each person Then payroll accounting to make a payment table general salary for the whole enterprise, team, and department one sheet per month Salary payment table for the whole enterprise will switch to accounting heads and heads of units sign the approval

On that basis, revenue and expenditure accountants write payment notes and pay salaries for each department

Salary payment for employees is usually divided into 2 periods in month:+ Term 1: Advance

+ Term 2: Pay the rest after deducting deductible amounts deducting salaries from laborers according to the prescribed regime

Salary are paid in the hands of an employee or a mass collective on behalf

of the cashier, when receiving the income, the employee must sign salary

In a nutshell, labor accounting is both about managing employer

mobilization this is the basis for calculating salaries to be paid to employees It

is clear, accurate, timely that labor costs can be calculated correctly and fully salaries for employees in the enterprise

1.4 Salary accounting and salary compensation

1.4.1 Vouchers used in accounting for salary and salary compensation

Some accounting vouchers:

- Form No 01a- LĐTL: “Time Attendance Table” This is a voucher basisSalary based on the actual working time of each employee This table isSet up monthly by time department (production group, department)

- Form No 01b-LĐTL: Time table for overtime work

- Form No 02-LDTL: Salary payment table

- Form No 03-LDTL: Bonus payment table

- Form No 04-LDTL: Road travel paper

- Form No 05-LĐTL: Confirmation of finished products or jobs

- Form No 06-LDTL: Payment table for overtime pay

- Form No 07- LDTL: Payment table for outsourcing rent

- Form No 08-LDTL: Contract of contracting

- Form No 09-LDTL: Minutes of liquidation (acceptance) of the contract

of contract

- Form No 10-LDTL: The list of deduction and payment of salary

- Form No 11-LĐTL: Table of distribution of salary and social insuranceThis form is used to account working time of workers overtime staff are allowed to work overtime as a basis for salary calculation according to the allowance for overtime work according to the prescribed regime

- Some other relevant documents such as receipts, payment slips, paper please advance, deviation (paper way) invoice

1.4.2 Accounts used in salary accounting and salary compensation

To monitor the situation of payment of wages and other amounts to

people labor, situation of setting up and using funds of SI, HT, UF and UI

account using account 334 and account 338

Account 334: "Payables to employees" This account is used to reflect accounts payable and payment situation pay to employees of the enterprise on salaries and wages, social insurance and other payables belong to income of workers

Account 334 - Payables to employees who have 2 second grade accounts

- Account 3341 - Payables to employees: Reflecting payables and the situation of payment of accounts payable to employees of the enterprise salaries,bonuses, salaries, social insurance and other payments belong to the employee's income

- Account 3348 - Payables to other employees: records accounts

receivable

pay and the situation of payment of payables to workers other than

employees of the enterprise on wages and bonuses (if any) of naturesalary and other amounts of income of the employee

Account 338: Other payables.

- Use to monitor the setting up and use of social insurance fund, health insurance fund, trade union fund, unemployment insurance fund,

Account 338 is classified into second-level accounts as follows:

- Account 3382 (Trade union fee)

- Account 3383 (Social insurance)

- Account 3384 (Health insurance)

- Account 3386 (Unemployment insurance)

Summary, distribution of salary, deduction of social insurance, health insurance and unemployment insurance Monthly, the accountants sum up the salaries payable in the period according to each subject (production, sales, services, ) and calculating social insurance deductions, health insurance, unemployment insurance, and internal health insurance according to regulations

on the basis of general calculation of salaries The rates of deduction of social insurance, health insurance, trade union funds and unemployment insurance are made on the Allocation Table Salary and salary compensation (Form No 01 / distribution table)

Content: Salary distribution table and social insurance deduction used to collect and actual salary distribution (main salary, extra wage and amounts other) Social insurance, health insurance, Trade Union Funds and

unemployment insurance premiums must be paid monthly to the employment rate (Credit in Accounts 334, 335, 3382, 3383, 3384 and 3386)

Other related accounts:

Acc 335- Accrued expenses

Acc 622- Direct labor cost

Acc 627- Manufacturing overhead cost

Acc 111,112, 138…

1.4.3 Common transactions in salary and salary compensation

Diagram 1: Accounting for payroll

Diagram 2: Accounting for payroll related compensation

1.5 Accounting book used in salary accounting and salary

compensation

In order for salary accounting to be accurate and timely, provide

information for managers, the book system and the recording process require organization scientific organization, reasonable, just to ensure accuracy, just reduce labor for people working in accounting

According to the current accounting regime, the organization of the book system is conducted by enterprises who build themselves based on 4 forms of books prescribed by the Ministry of Finance and at the same time Based on the characteristics and size of its production and business activities Nesting salary accounting functions shall be conducted in the following forms:

General diary form

Diagram 3: Diagram showing salary accounting and salary

compensation in the form of general diary:

Note:

- To collate and check

- To record periodically

- To record daily

The payment table of payroll

Special journal General Journal Detailed accounting book of

Ledger diary form:

Diagram 4: Diagram showing salary accounting and salary

compensation recorded ledger in the form of ledger diary

general accounting vouchers

of the same type

Detailed accountingbook of 338 account

Financial Statement

Forms of book entry:

Diagram 5: Diagram showing wage accounting and salary deductions

in the form of bookkeeping vouchers

type

Detailed accountingbook of 334, 338account

The payment table of payroll

Forms of voucher diary:

Diagram 6: Diagram showing wage accounting and salary deductions

in the form of Journal – Document

Software accounting form

Diagram 7 : Diagram showing wage accounting and salary

deductions in the form of machine accounting

1.6 Information about salary accounting and salary compensation

1.6.1 On the balance sheet

Information on salary is payable to employees, deductions salary is

shown in other payables The data to be inscribed in this index shall be based onthe Credit balance of account 334 "Payables to employees activities ”in the reporting period on Ledger account 334 are recorded in the payables labor (Code 314) on the balance sheet Data to be filled in this criterion base on creditbalance of Account 338 in the reporting period Statements on ledger and

account details of account 338 are recorded in the short-term other payables (Code 319) on the balance sheet

1.6.2 On the income statement

Information about wages and salary deductions is displayed in the index

"Cost of goods sold" (Code 11 in the statement of operating results business) fordirect production workers and manure management personnel factory,

construction team, presented in the target "Selling expenses" (Code 25 above report on business results) and the target “Expenses of business management

”(Code 26 on the report of business results) for employees who workings at the administrative division, office

1.6.3 On the cash flow statement

Information about wages and salary deductions is displayed in Cash flow from operating activities - Cash payments to employees activities (salaries, bonuses, insurance, benefits ) (Code 03 on the Flow Report currency)

1.6.4 On the notes to the financial statements

Information about salary deductions is presented in details section other payables

CHAPTER 2:ACCOUNTING FOR SALARY AND SALARY COMPENSATION AT NHAT MINH BUSINESS MANAGEMENT

CONSULTANT LIMITED COMPANY 1.1 General information about Nhat Minh Business Management Consultant Limited Liability Company

1.1.1The information of internship company :

Company name: NHAT MINH BUSINESS MANAGEMENT

CONSULTANT LTD.CO

Charter Capital: 2,000,000 VND ( two billion Vietnam dong)

Company address: 3 Lane 560 Ngo Gia Tu - Duc Giang Ward - Long Bien District – Hanoi

1.1.2 Internship company’s basic features and operating activities:

The form of entity: Nhat Minh Business Management Consultant LimitedLiability Company

Business Activities:

- Advertising

- Providing Accounting service àn consultant service

- Other wholesale household appliances

- Wholesale computers, peripherals and software

- Retail computing, peripherals, software and telecommunications

equipment in specialty stores

- Retail audiovisual equipment in specialty shops

- Wholesale electronic and telecommunication equipment and components

- Wholesale machinery, equipment and spare parts for agricultural machinery

- Wholesale machinery, equipment and other spare parts

- Wholesale materials and other installation equipment in

construction

- Retail furniture, paints, glass and other installation equipment in the construction of specialty shops

- Wholesale General (excluding state prohibited)

- Other retail stores in general business

- Retail carpet, cushions, blankets, blinds, curtain, wall and floor materials in specialty shops

1.2 COMPANY STRUCTURE:

Human Resource Administrator

Accountant 1

Finance - Accounting Department

Human Resource Department Sale Department

Chief Accountant Sale Administrator

Accountant

Director Board

1.2.1 Function of each department:

Director ( Mr Le Truong Giang ):

+ on behalf of the owner, organize the exercise of the rights and

obligations of the company owner; have the right on behalf of the company to perform the rights and obligations of the company; To take responsibility beforethe law and the company owner for the performance of the rights and duties assigned in accordance with the Law on Enterprises and the related laws

+ He is responsible before the State, his superior agency in charge of all production and business activities of the company He is responsible for the management of the company's production and business activities according to the internal rules, regulations, resolutions issued in the company and the State's policies and regimes

Finance - Accounting Department:

+ has the function of advising the Company's leaders and organizing the implementation of the following tasks: timely and full accounting of all assets, equity, liabilities, revenue and expenditure activities finance, business planning and financial planning of the unit; advise the leadership of the unit to direct and perform the inspection and supervision of the management and compliance withthe financial and accounting regime

+ have the task of accounting economic transactions arising at the unit in

a timely and sufficient manner to ensure good service for business activities; assume the prime responsibility and coordinate with the relevant departments tomake annual and long-term business and financial plans of the company;

implement, participate in implementing and directly managing the financial investment, lending at the unit; advise the unit's leadership on directing or directly supervising the management and observance of the financial and

accounting regime; researching and proposing to the unit leaders business management measures to ensure good compliance with the current regime and

in accordance with the characteristics and business situation of the unit in order

to achieve the highest efficiency

Sale Department: