Accounting procedures for payroll and payrolldeduction at thanh nam investment construction anddevelopment trading joint stock company

NATIONAL ECONOMICS UNIVERSITY SCHOOL OF ACCOUNTING AND AUDITING ….    … BACHELOR THESIS ACCOUNTING PROCEDURES FOR PAYROLL AND PAYROLL DEDUCTION AT THANH NAM INVESTMENT CONSTRUCTION AND DEVELOPMENT TRADING JOINT STOCK COMPANY Student name: Dang Khanh Huyen Student’s ID: 11182251 Class: Accounting CFAB K60 Supervisor: Assoc Prof Nguyen Thanh Hieu Ha Noi, 2022 STATUTORY DECLARATION I herewith formally declare that I myself have written the submitted Bachelor Thesis independently I did not use any outside support except for the quoted literature and other sources mentioned at the end of this paper I clearly marked and separately listed all the literature and all other sources which I employed producing this academic work, either literally or in content Hanoi, 30/06/2022 Signature i TABLE OF CONTENTS INTRODUCTION V CHAPTER 1: FEATURES OF LABOUR AND PAYROLL AND MANAGEMENT OF LABOUR AND PAYROLL AT THANH NAM INVESTMENT CONSTRUCTION AND DEVELOPMENT TRADING JOINT STOCK COMPANY .1 1.1 Features of labour and payroll at Thanh Nam., JSC 1.2 The form of payment for salaries and wages applied at Thanh Nam., JSC… 1.2.1 Payroll policies 1.2.2 The forms of payment for salaries and wages 10 1.3 Policies of payroll deduction applied at Thanh Nam., JSC 12 1.4 Features of organization of labour and payroll at Thanh Nam., JSC 15 CHAPTER 2: CURRENT SITUATION OF ACCOUNTING PROCEDURES FOR PAYROLL ANF PAYROLL DEDUCTION AT THANH NAM., JSC .18 2.1 Accounting for payroll at Thanh Nam., JSC 18 2.1.1 Accounting documents 18 2.1.2 Methods applied for payroll calculation 38 2.1.3 Accounts used 40 2.1.4 Accounting procedures for payroll 41 2.2 Accounting for payroll deductions at Thanh Nam., JSC 49 2.2.1 Accounting documents 49 2.2.2 Accounts used 54 2.2.3 Accounting for procedures for payroll deductions 55 CHAPTER 3: IMPROVEMENT OF ACCOUNTING PROCEDURES FOR PAYROLL AND PAUROLL DEDUCTIONS AT THANH NAM JSC .62 3.1 Assessing the current accounting procedures for payroll and payroll deductions at Thanh Nam., JSC 62 3.1.1 Strengths 62 3.1.2 Weaknesses 64 ii 3.2 Suggestions to complete accounting procedures for payroll and payroll deductions at Thanh Nam., JSC 65 3.2.1 Management of payroll and payroll deductions .65 3.2.2 Accounting documents and documents transfer .66 3.2.3 Conditions needed for implementing proposed solutions 68 CONCLUSION 69 REFERENCES 70 iii LIST OF TABLES Table 1.1: Group of workforce at Thanh Nam., JSC Table 1.2: Working index for job titles .5 Table 1.3: Salary for public holidays Table 1.4: Salary for personal leave Table 1.5: Other treatments Table 1.6: Percentage of payroll deductions (01/01/2021 – 30/06/2021) .12 Table 1.7: Percentage of payroll deductions (01/07/2021 – 30/09/2021) .12 Table 1.8: Percentage of payroll deductions (01/10/2021 – 30/06/2022) .13 Table 1.9: Percentage of payroll deductions (01/07/2022 – 30/09/2022) .13 Table 2.1: Labor Contract .20 Table 2.2: Timesheet of office staffs .21 Table 2.3: Payroll sheet of workers at SOJO 24 Table 2.12.4: Bonus payment sheet for New Year 35 Table 2.12.5: Advance Payment Request .37 Table 2.12.6: Detailed book (Account 334) 44 Table 2.7: General Ledger (Account 334) 48 Table 2.8: Sick leave certificate 50 Table 2.9: Social insurance section 51 Table 2.10: Payment slip 52 Table 2.11: Insurance premium sheet 53 Table 2.12: Detailed book (Account 3383) .57 Table 2.13: Detailed book (Account 3384) .58 Table 2.14: Detailed book (Account 3385) .59 Table 2.15: General Journal (Payroll deductions) 60 Table 3.1: Payroll sheet of construction department .67 iv INTRODUCTION To begin with, for every employee, wages and salaries take a significant role to apply for a vacancy at a company The remuneration is a main source of income to make up their waste labour Therefore, a reasonable income for workers needs to satisfy the basis of productivity and minimum living standards In addition, the employees take notice of salary disciplines detailed in remuneration regime in order to determine that whether or not they are fit for the job For business sector, one of the primary objectives to manage an organisation effectively and efficiently is the payroll management It is clear that the payroll focuses not only on remuneration regime but also on measure of staffs’ performance The managers will evaluate the quantity and quality of labour through the payroll for the purpose of optimizing labour costs From that point, the company can adjust the plan of staff allocation, for example, according to each product price as well as distribution and administrative costs Moreover, based on workers’ information on the payroll, the business also can prepare some contingency plans for the shortage or surplus labor events to occur In order to comprehend how payroll is created and how the use of labour ability is effective and efficient, the thesis is built with the aim of studying, analysing and assessing the accounting procedures for payroll and payroll deduction at Thanh Nam investment construction and development trading joint stock company As a result, the thesis provides some related recommendations to the improvement of the salary and salary deduction procedures The scope of the thesis consists of the Accounting Department of Thanh Nam., JSC There are three main parts involved in the thesis as following: Chapter 1: Features of labour and payroll and management of labour and payroll at Thanh Nam investment construction and development trading joint stock company Chapter 2: Current situation of accounting procedures for payroll and payroll deduction at Thanh Nam investment construction and development trading joint stock company Chapter 3: Improvement of accounting procedures for payroll and payroll deduction at Thanh Nam investment construction and development trading joint stock company v CHAPTER 1: FEATURES OF LABOUR AND PAYROLL AND MANAGEMENT OF LABOUR AND PAYROLL AT THANH NAM INVESTMENT CONSTRUCTION AND DEVELOPMENT TRADING JOINT STOCK COMPANY 1.1 Features of labour and payroll at Thanh Nam., JSC Thanh Nam., JSC actives in construction field as a subcontractor The company provides mostly construction services for a wide range of construction projects like mixed-used commercial projects, residential projects and education projects Due to the features of construction industry as well as each kind of building projects, the workforce of the company is required high standards of age, health, gender, technical level and experience As a result, Thanh Nam., JSC owns a ad-hoc labour force which comprises two types of objects: direct workers and indirect workers  The direct workers often serve with short-term contracts (under one year) Hence, they not contribute for the social insurance, health insurance, unemployment insurance They are bricklayers, masons, welders, plumbers etc who incline to work as manual employees at the construction site completely In accordance with the features of this group, the criteria for the recruitment depend on significant factors such as whether the candidates are of working age (at least 18 years of age according to Labor Code 2019), whether they meet the health requirement for the job, whether they are male or female, and whether they are skilled workers Therefore, the direct labor are young mostly and in rude health Additionally, they are not required to own any professional certificate but they should have practical experience  The indirect workers as management officers, quantity surveyors, quality controllors etc who work under long-term contracts so they have responsibility to participate in the social insurance, health insurance, unemployment insurance totally Furthermore, unlike direct labour, office staffs need to have specialized knowledge so they mostly graduated from related college or university They direct the implementation of a plan and manage the direct workers to ensure that the projects are performed as expected Accordingly, the office staffs can work at the company’s office or at the construction site with the direct employees For the new employees, the firm plans training programmes which are combined with a two month probationary period The seniors train for the new workers and the professional train for the new staff as well as officers to follow the set procedure very precisely Especially, the new entrant who works in the business as an apprentice are trained and evaluated carefully by the experts as the managers After the training period, individuals completing the scheme successfully would officially sign the labor contract Due to the unique features of the construction labor, the number of labor force at the company in the period from 2019 to 2021 is also interested and shown as below: No Department Indirect labour Board of Director Accounting Department Admin & Human Resource Number of employees 2019 2020 2021 18 19 21 5 4 2 Department Material supply Department Construction Department Direct labour 329 207 Total 347 226 Table 1.1: Group of workforce at Thanh Nam., JSC 426 447 It is noticeable that the number of human resource at Thanh Nam., JSC over the years has changed significantly For the indirect labour, there were some slight variation in the number because they signed the long-term contracts and that means they are required a high commitment to the business (motivation, loyalty and job satisfaction) In general, the quantity of indirect staffs had increased slightly by individuals over years from 2019 to 2021 However, the number of direct workers is very numerous and continuously fluctuates from year to year or evenly in a year For instance, there was a considerable decrease in the quantity of direct employees from 329 workers in 2019 to 426 workers in 2021 The major reason for this decline is that the Covid-19 situation in 2020 was turned seriously with the dramatical increase in the number of cases and the business was under orders to put a stop to all construction projects Therefore, all direct employees operating at construction sites stopped their work for a long time Until 2021, the situation returned to normal leading the return of work so the number of direct labor boost substantially In addition, the number of direct labor is more volatile than indirect labor In fact, the fluctuation is influenced by the unique characteristics of construction field A construction project does not provide a stable job over the years for direct labor due to its “one-off nature” Consequently, the direct labour engaged in construction area is seasonal and migratory employed on a piece-rate basis They are essentially dedicated to farming during a certain period or climatic conditions in a year During the rest of the year, they are engaged as construction labor for intermittent short durations They not reflect their contribution in construction as an occupation Accordingly, the degree of commitment they have to the profession is not really extensive and they have little loyalty and motivation to enhance the necessary knowledge and skill of the chosen trade Due to the marked differences between the two kinds of labour, Thanh Nam., JSC has human resource management (HRM) to developing and maintaining an effective labour force which matches the business’s requirements Unlike the indirect staffs, the direct employees need to be managed in a strict and systematic way to avoid a shortage of human resources as well as to ensure cost-effectiveness Human resource department and construction department coordinates perfectly for the management of the direct workforce As a subcontractor, the company has a wide range of construction contracts as well as projects at the same time to expand the business Hence, setting up reasonable plans for rotation of the direct employees is very crucial because the managers need to take full advantage of this numerous workforce 1.2 The form of payment for salaries and wages applied at Thanh Nam., JSC 1.2.1 Payroll policies Thanh Nam., JSC institutes the payroll policies to run the payroll procedure smoothly as well as guarantee workforce of accurate and timely payment of salaries and wages The salary policies, thus, perform a huge role in maintaining the staff morale and the stability of business finance Principles for formulation of payroll In compliance with Decree 49/2013/ND-CP, the firm also sets up some principles for formulation of payroll as below  Pay scale is based on the region-based minimum wage announced by the Government to adjust the salaries and wages of each job title to the finance of the company: + The lowest salary for the simplest position but not less than the regionbased minimum wage + The lowest salary for the simplest position with training or apprenticeship is greater than 7% the region-based minimum wage + With the same job title, employees working in heavy and dangerous conditions will be paid at least 5% higher salary than workers working in normal conditions Because as the rule, if the enterprise with the current salaries and wages does not meet the above conditions, it will have to adjust the payroll, and the enterprises find that each year the region-based minimum wage is likely to increase, the company always sets the salary equal to or higher than the region-based minimum wage to save time as well as costs  The salary fund of the company is only used for salary payment to employees working at the company and not for other purposes  The salaries and wages are paid in full for employees directly and timely, according to the productivity, quality and efficiency  The salaries and wages paid to the direct labor must be in line with the amount of work and not be lower than the arm’s length price  The salaries and wages paid to the indirect labor must be appropriate to qualifications, commitment, competencies; degree of responsibilities of every job titles  59 The third copy (if any) is sent to the receiver as an original document to be used in preparing the receiver's receipts and fund entries THANH NAM INVESTMENT CONSTRUCTION AND DEVELOPMENT TRADING JSC Address: Number 5, alley 112/15/38 Dinh Cong Thuong, Dinh Cong ward, Hoang Mai district, Hanoi, Vietnam Form No.S19 – DNN (Issued under Circular 133/2016/TT-BTC dated August 26th, 2016 of the Ministry of Finance) A Docum ent N Dat o B e C Prepar Account 3383 – Social Insurance December 2021 er Description Acco unt Arising amount Dr 27/ 27/ D Opening balance Social insurance 1121 12 12 payment in Dec 31/ 12 Extract social insurance in Dec 334 31/ 12 Extract social insurance in Dec 6422 31/ 12 31/ 12 E Total arising amount Closing balance Deb Credit it 3,074,1 10 12,296, 15,370, 550 Amount Cr 15,370, 550 60 from page number Opening date: … DETAILED BOOK Unit: VND Da te This book has 01 pages, numbered 440 15,370, 550 December 31, 2021 Chief Direct Accou ntant or (Sign, (Sign, Seal) Seal) (Sign, Seal) Table 2.21: Detailed book (Account 3383) THANH NAM INVESTMENT CONSTRUCTION AND DEVELOPMENT TRADING JSC December 31, 2021 Form No.S19 – DNN (Issued under Circular 133/2016/TT-BTC dated August 26th, 2016 of the Ministry of Finance) Address: Number 5, alley 112/15/38 Dinh Cong Thuong, Dinh Cong ward, Hoang Mai district, Hanoi, Vietnam Prepar er Chief Accou Direct or ntant (Sign, Seal) DETAILED BOOK Account 3384 – Health Insurance December 2021 Unit: VND Da Docum te A N o B ent Dat e C Description Acc Arising amount ount Dr Cr 27/ D Opening balance Health insurance E 27/ 1121 2,766,6 12 12 payment in Dec 31/ 12 Extract health insurance in Dec 334 31/ 12 Amount Total arising amount Credit Seal) Table 2.22: Detailed book (Account 3384) THANH NAM INVESTMENT CONSTRUCTION AND DEVELOPMENT TRADING JSC Address: Number 5, alley 112/15/38 Dinh Cong Thuong, Dinh Cong ward, Hoang Mai district, Hanoi, Vietnam 99 2,766,6 99 2,766,6 99 Deb it 2,766,6 99 61 Form No.S19 – DNN (Issued under Circular 133/2016/TTBTC dated August 26th, 2016 of the Ministry of Finance) DETAILED BOOK Account 3385 – Unemployment Insurance Closing balance This book has 01 pages, numbered from page number Opening date: … (Sign, Seal) (Sign, December 2021 Unit: VND D D a oc Descriptio n A Arisi c ng Am ou te A ument N Da o te B C count 27/ 27/ D Opening balance Unemployment insurance 12 31/ 12 payment in Dec 31/ Extract unemployment 12 12 insurance in Dec E amount Dr Cr nt De Cred bit it 614,8 11211 22 614,8 334 Total arising amount 22 614,8 22 614,8 22 Closing balance This book has 01 pages, numbered from page number Opening date: … Preparer Chief Accountant (Sign, Seal) (Sign, Seal) Table 2.23: Detailed book (Account 3385) 62 December 31, 2021 Director (Sign, Seal) THANH NAM INVESTMENT CONSTRUCTION AND DEVELOPMENT TRADING JSC Form No.S03a – DNN Address: Number 5, alley 112/15/38 Dinh Cong Thuong, Dinh Cong ward, Hoang Mai district, Hanoi, Vietnam (Issued under Circular 133/2016/TT-BTC dated August 26th, 2016 of the Ministry of Finance) GENERAL JOURNAL Year: 2021 Unit: VND Date A Document No Date B C Description D Transferred to Ledger E Ref Account G H Amount Debit Credit Opening balance 27/12 497 27/12 Payment of SI, HI, UI in Dec 31/12 527 31/12 Extract SI, HI, UI in Dec X X X 3383 3384 3385 X X X X X 11211 334 3383 3384 3385 X X 6422 3383 15,370,550 2,766,699 614,822 18,752,071 6,455,631 3,074,110 2,766,699 614,822 12,296,440 12,296,440 Amount carrying forward to next page This book has 01 pages, numbered from page number Opening date: … December 31, 2021 Preparer (Sign, Seal) Chief Accountant Director (Sign, Seal) (Name, Seal) Table 2.24: General Journal (Payroll deductions) THANH NAM INVESTMENT CONSTRUCTION AND DEVELOPMENT TRADING JSC 63 Address: Number 5, alley 112/15/38 Dinh Cong Thuong, Dinh Cong ward, Hoang Mai district, Hanoi, Vietnam (Issued under Circular 133/2016/TT-BTC dated August 26th, 2016 of the Ministry of Finance) Form No.S03b – DNN GENERAL LEDGER Year: 2021 Account: Other Payables Number: 338 Unit: VND Date A 21/06 30/06 30/06 Document No Date B C 201 249 249 21/06 30/06 30/06 Description D General Journal Page Column E G Opening balance Paying SI, HI, UI in June Extract SI, HI, UI in June Extract SI, HI, UI in June Amount occurred Closing balance Account H 11211 334 6422 Amount Debit Credit 13,620,672 13,620,672 4,469,283 9,151,389 13,620,672 This book has 01 pages, numbered from page number Opening date: … Preparer (Sign, Seal) Chief Accountant (Sign, Seal) Table 2.30: General Ledger (Payroll deductions) 64 October 31, 2021 Director (Sign, Seal) CHAPTER 3: IMPROVEMENT OF ACCOUNTING PROCEDURES FOR PAYROLL AND PAUROLL DEDUCTIONS AT THANH NAM JSC 3.1 Assessing the current accounting procedures for payroll and payroll deductions at Thanh Nam., JSC 3.1.1 Strengths The firm has adopted a centralized accounting organization that is generally in line with its production and operational features This type of accounting organization not only facilitates task inspection and management, but it also guarantees the attention of chief accountant and the director's instruction promptly The division of labor, job specialization for accountants, and financial management are all supported by the concentration in accounting since timely and precise accounting data is gathered The business now uses general journal accounting for its accounting records Due to the straightforward, straightforward to compare, and accessible form of booking for assignment, this form has the benefit of being simple to record The accounting book system of the company is set up in line with Ministry of Finance’s approved format, and it works in compliance with state requirements Accounting data is recorded accurately and truthfully The data on the detailed accounting books, the book entry voucher registers, are consistent with the ledger as well as on the accounting reports The company's accounting vouchers are fully gathered, stored in accordance with regulations and always ensure their validity The company is applying the form of time-based salary payment for employees working in offices, administration and the form of piece-based salary payment direct employees The company's application of this form of salary payment is very reasonable It encourages employees to work enthusiastically, take responsibility for their jobs and improve their own skills In accounting work, the company has constantly improved its accounting apparatus The accounting apparatus is organized deeply, the team of accountants are highly qualified and have high working experience, mastering and applying the accounting regime according to the general regulations of the Ministry of Finance 65 Accounting software has been used in the company's accounting activity This software can calculate salary for employees based on the data entered To keep track of accounting records, Thanh Nam., JSC has chosen 3tsoft software This software's modules are linked and related to make accounting simple, regular, accurate, and quick When a command is issued, the pre-installed program will promptly execute and allow you to produce any accounting books or reports that you require However, a problem always exists in two ways, besides the strengths that encourage the accounting work and the salary deductions in the company still have shortcomings that need more appropriate attention to continue to be improved The organization of the Company's accounting system is relatively independent Accounting staff with professional qualifications and enthusiasm for the job The process of recording books and accounting documents always complies with the current accounting regime, besides, it is also applied appropriately and flexibly into the reality of the Company The accounting work of salary and salary deductions is done accurately and promptly from which we can see the creative ability in the labor and salary management work of the accounting system This ensures the interests of employees, on the other hand helps with the monitoring and inspection of the superior agencies Furthermore, in order to encourage personnel to consistently showcase their talents, Thanh Nam., JSC offers extremely reasonable incentives to those who accomplish exceptional labor productivity and production ingenuity In addition, specific regulations for the bonus system for key national holidays will be developed For the working time, the Company has applied the working regime in accordance with the State regulations, the number of working days in a month is 26 - 27 days and one working day is seven hours for office staff For employees directly involved in construction sites with overtime work in accordance with the State's regulations The application, which complies with State requirements, demonstrates that the firm constantly protects and prioritizes the interests of its employees Employees in the company are always assured to get monthly salary on schedule, and their labor worth is always guaranteed This not only builds trust between employees and employer, but it also demonstrates how well the company's business is operating 66 Payments for Social Insurance, Health Insurance, and Unemployment Insurance have been brought back to the relevant accounts, making the recording documents more explicit and making it easier for accountants to maintain track 3.1.2 Weaknesses  The accounting system of Thanh Nam., JSC is currently in compliance with Circular 133/2016/TT-BTC which is just suitable for the small and medium enterprises as the company is As a result, in the future, if the company was increasingly grown and developed in expanding the projects in the construction field and in enhance the number of employees, Circular 133/2016/TT-BTC would not suitable for the accounting system Then the company must exchange to Circular 200/2014/TT-BTC to fit with the size of business That costs time and money to convert, and can cause confusion and  omissions for accountants in the begining of the period The work of the Company is more and more developed, if only four accountants manage and keep track of all jobs such as timekeeping, salary work, it will make the accountants under pressure lead to confusion in the job implementation As a result, several aspects of the accounting work are still temporary and not accurately reflect the accounting tasks requirements This inadequacy is shown in the case of Ms Le Thi Hang when she was both chief accountant, general accountant and finance director  The payroll sheet of construction department does not detail who works at the construction site or the office Therefore, the accountant will manually classify to record the entry of the salary expenditure of the office staff, which is recorded in account 154 “Work in progress” and account 6422 “General  administration expenses” The company has the lunch allowance for the office staffs and it does not detail on the payroll sheet as an income Hence, the employees not have an overall view of their salary and wage  The company has not establish trade union for its employees, so it had some problems related disputes between employees and employers over labor discipline 67  For indirect staffs, the application of the form of time-based salary payment will have a noteworthy point that is: the employee who comes to the Company just for timekeeping does not care about the results of the work For direct workers, as a construction company, the payment of salaries to the workers in sites is also dependent on the progress of the work Therefore, the wages of workers are often slower than the terms signed between the two parties in the labor contract  The coordination between the accounting department with construction departments in the company has not been smooth The arising accounting vouchers were not sent to the accounting department in time lead to many difficulties for accountants in the working process For some projects that is far from the head office, it take long time to deliver original documents from site Suggestions to complete accounting procedures for payroll and payroll deductions at Thanh Nam., JSC 3.2 Suggestions to complete accounting procedures for payroll and payroll deductions at Thanh Nam., JSC 3.2.1 Management of payroll and payroll deductions  The form of salary payment: - Time-based payment: If the company has no strict labor time management policy, the efficiency of labor will be generally affected Therefore, the company needs to have strict management measures for its staffs (using fingerprint attendence machine) and attach specail importance to engineers because this group has significantly influence on the rate of progress of constructions projects (organize a parties after finishing every construction project) - Overtime of Piece-based payment: Currently, the company just has the overtime full-day policy with the direct workers Therefore the intensity of work may be too hard for the older group and that means they could not ensure the progress greatly The firm should give an overtime-shift suggestion such as a half of day as an overtime shift  The payroll deduction: As mentioned above, the company has not establish trade union for its employees and meet some problems related disputes between employees and 68 employers over labor discipline The company should quickly institute trade union as well as pay trade union fees to gain the benefits from the trade union organisation 3.2.2 Accounting documents  For the payroll sheet of the construction department, it should be classify according to working at construction site or the office This classification will avoid confusion when the accountant records personnel salary expenses   (Table 3.1) The lunch allowance shall be detail on the payroll sheet as an income of employees (Table 3.1) The accounting department and the person in charge at sites should have more cooperation and coordination Transmission must be timely and sufficient for the parties to grasp the overall situation The accounting department should set up a strictly schedule for the sites to acknowledge and prepare supporting documents that need to be used, using scanning technique and send those field via Internet is an idea The chief accountant and the supervisors can easily check this kind of document in advanced  The organisation should separate the work of HR and payroll accounting work to reduce the workload of the current salary accountant This makes it easier to manage employee information and reconcile salary vouchers and documents faster and more accurately THANH NAM INVESTMENT CONSTRUCTION AND DEVELOPMENT TRADING JSC Form No.11 – LĐTL (Issued under Circular 133/2016/TT-BTC dated August 26th, 2016 of the Ministry of Finance) Address: Number 5, alley 112/15/38 Dinh Cong Thuong, Dinh Cong ward, Hoang Mai district, Hanoi, Vietnam Department: Construction PAYROLL SHEET December 2021 Co nst ru F ul N o l N a m e Đi Title Engi Salary W o cti on sit e/ Of fic e Basi c salar y Sit 4,72 r k i n g d a salary Basi c Earn ings y s 4,72 W o r ki n g in d e x Effe ctive Earn ings 16,55 2,900 69 Personal Income Tax Salary deduction Effective Dilig ence 50,0 00 (VN D) 1,30 Lunc h Allo wanc SI e 756, HI UI Gross incom e 8% 23,338 378, 1.5 % 70, % 47, Tota l insu ranc e dedu ction 496, Famil y relief deduct ion S i P I Ass ess abl e inc om e T d e d u g Net income - a t u r c ti e o n 24,200 n 22,085, nh Tr ần L on neer e 9,40 9,40 0,00 000 ,300 352 94 29 587 ,000 713 g … TOTAL Total amount of money (in words): … December 31, 2021 Scheduler (Sign, Name) Chief Accountant (Sign, Name) Table 3.25: Payroll sheet of construction department 70 Director (Name, Seal) 3.2.3 Conditions needed for implementing proposed solutions The completion of the organization of the salary accounting and salary deductions is an indispensable requirement of Thanh Nam., JSC in particular and the companies in general In order to complete the above work, the State must regularly adjust the issued salary regimes to suit the interests of the employees, at the same time each company must also perfect itself For the company, it can implement the solutions to improve the management of labor and salary accounting more flexibly, at the same time, the employee management must also be paid more attention and attention For employees in the company, they should also try their best, enthusiastic and enthusiastic about their work to make the company go up and develop more steadily Especially the accounting staff, labor management, salary and salary accountants in the company need to promote self-discipline, carefulness and high responsibility at work to avoid mistakes Unworthy errors when accounting, in order to ensure the benefits of workers 71 CONCLUSION Accounting for payroll and payroll deductions are important aspects of labor management The appropriate approach to raise money, to accumulate for the company and the society is to lead the right and accurate accounting decisions This will inspire employees to enhance their productivity, foster innovation, and contribute to accomplishing the assigned plan In accordance with management, Thanh Nam., JSC has a long-term mission to be perfect increasingly, in enhancing the quality of overtime compensation Through my internship at Thanh Nam., JSC, I mostly received the enthusiastic assistance of the accounting department, and I was able to get a ton of useful practical experience for the students who are just graduating from school Additionally, I am aware of the value of accounting for payroll and payroll deductions This subject demonstrates the attachment and influence between the company and its employees The Board of Directors has since created efficient rules and reasonable programs that will benefit the company and its workers Due to the limited practice time at the company, my comments, recommendations and conclusions are subjective Despite their efforts, they are inevitable shortcomings We hope to receive the comments and sympathy from the instructors: Assoc Prof Nguyen Thanh Hieu with the Directors, Department of Accounting & HR, the staff of Thanh Nam., JSC to complete this graduation internship successfully Thank you sincerely! 72 REFERENCES Ministry of Finance (2016), Circular 133/2016 / TT-BTC about guiding the accounting regime of Vietnamese enterprises, issued on August 26, 2016 Prof Dr Dang Thi Loan (2009), National Economics University Pulisher, Hanoi-Text book of finance accounting Ministry of Finance, Vietnamese Accouting Standard Accounting documents from the Human Resource & Accounting department of Thanh Nam Investment Construction and Development Trading Joint Stock Company 73