Accounting procedures for payroll and payroll deduction at binh minh joint stock company

NATIONAL ECONOMICS UNIVERSITY SCHOOL OF ACCOUNTING AND AUDITING & BACHELOR THESIS Major: Accounting ACCOUNTING PROCEDURES FOR PAYROLL AND PAYROLL DEDUCTION AT BINH MINH JOINT STOCK COMPANY Student : Nguyen Thi Thuy Linh : Accounting : Accounting CFAB2 Specialty Class Student’s ID Supervisor : : 11182812 Assoc.Prof Thanh Hieu Nguyen HANOI 2022 ACKNOWLEDGEMENTS I would like to express my deepest thanks to my instructor, Assoc.Prof Nguyen Thanh Hieu Who supports and guides me enthusiastically She provided me a lot of useful knowledge about the topic of accounting for payroll, followed me step by step in the process of conducing this thesis She also carefully reviewed each part of the thesis and gave me a lot of high valuable advice In addition, I want to give my thanks to National Economics University and School of Accounting and Auditing With the knowledge I have learned, I had ability to complete the internship course As an accounting student, I have an opportunity to approach the reality in Binh Minh Joint Stock Company During the accounting Internship, I can apply the theory in practice to have a better understanding about the accounting work of enterprises in a specific business sector Finally, I would like to express my sincere thanks to the Board of Director and the accountant at Binh Minh Joint Stock Company for letting me as an internship in the company as well as guiding and supporting during my internship at the company Although, it is not a long period, I have chance to learn more about accounting for payroll, which helps me to develop my career ladder in the future i TABLE OF CONTENTS ACKNOWLEDGEMENTS .i LIST OF TABLES iv LIST OF DIAGRAMS v INTRODUCTION CHAPTER I: FEATURE OF LABOR AND PAYROLL AND MANAGEMENT OF LABOR AND PAYROLL AT BINH MINH JOINT STOCK COMPANY 1.1 Features of labor and payroll at Binh Minh Joint Stock Company .2 1.1.1An overview of the company and company human resources 1.1.2 Employee classification by age and gender 1.1.3 Employees classification by educational level 1.1.4 Employees classification by nature of work 1.2 The forms of payment for salaries and wages applied in Binh Minh Joint Stock Company 1.2.1 The form of salary payment 1.2.2 Support fees 10 1.2.3 The days off with full salary .11 1.3 Policy of payroll deduction applied at Binh Minh Joint Stock Company 11 1.4 Feature of management of labor and payroll at Binh Minh Joint Stock Company 14 1.4.1 Binh Minh Joint Stock Company organization structure 14 1.4.2 Labor management organization at Binh Minh Joint Stock Company 16 CHAPTER II: CURRENT SITUATION OF ACCOUNTING PROCEDURES FOR PAYROLL AND PAYROLL DEDUCTIONS AT BINH MINH JOINT STOCK COMPANY 17 2.1 Accounting for payroll at Binh Minh Joint Stock Company .17 2.1.1 Accounting documents .17 2.1.2 Method applied for payroll calculation .29 2.1.3 Account used 33 2.1.4 Accounting procedure for Payroll at Binh Minh Joint Stock Company 33 2.2 Accounting for payroll deductions at Binh Minh Joint Stock Company 38 ii 2.2.1 Accounting documents: 38 2.2.2 Account applied: 42 2.2.3 Accounting procedure 42 2.2.4 General accounting of salary and payment situation with employees 45 2.2.5 Accounting for deductions for social insurance, health insurance, unemployment insurance, trade union fees 45 CHAPTER III: IMPROVEMENT OF ACCOUNTING PROCEDURES FOR PAYROLL AND PAUROLL DEDUCTIONS AT BINH MINH JOINT STOCK COMPANY 55 3.1 Assessing the current accounting procedures for payroll and payroll deductions at Binh Minh Joint Stock Company 55 3.1.1 Strength 55 3.1.2 Weakness 57 3.2 Suggestions to complete accounting procedures for payroll and payroll deductions at Binh Minh Joint Stock Company .58 3.2.1 Management of payroll and deductions 58 3.2.2 The organization of the accounting apparatus 59 3.2.3 The management of labor 59 3.2.4 Accounting documents and documents transfer 60 3.2.5 Accounts used .60 3.2.6 Conditions needed for implementing proposed solutions 60 CONCLUSION 62 REFERENCES .63 iii Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company LIST OF TABLES Table1 1: Number of employees at Binh Minh Joint Stock Company Table1 2: Labor’s age and gender classification of BMJSC Table1 3: Employee’s educational level classification at BMJSC Table1 4: Employee’s classification by nature of work Table1 5: Salary scale by job title Table 1.6: The employee’s 13th -month salary at BMJSC Table1 7: Proportion of salary deductions from 1/1/2021 to 30/6/2021 Table 1.8: Proportion of salary deductions from 01/07/2021 to 30/09/2021 Table 1.9: Proportion of salary deductions from 01/10/2021 to 30/6/2022 Table 1.10: Proportion of salary deductions from 01/07/2022 to 30/09/2022 Table 1.11: Labor contract of Binh Minh Joint Stock Company Table 1.12: Timesheet in December 2021 Table 1.13: Timesheet in October 2021 Table 1.14: Monthly overtime timesheet in October 2021 Table 1.15: The payroll sheet in October, 2021 Table 1.16: Statement of salary and salary deductions allocation in total Table 1.17: Bonus payment sheet for new year vacation Table 1.1.8: Salary slips in March 2022 Table 1.19: Detailed books of account number 334 Table 1.20: Certificate of sick leave Table 1.21: Social Insurance payment voucher Table 1.22: Social insurance sheet Table 1.23: Detailed book of account number 3382 Table 1.24: Detailed book of account number 3383 Table 1.25: Detailed book of account number 3384 Table 1.26: Detailed book of account number 3385 iv Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Table 1.27: Extract of General Journal for entry related to account number 338 Table 1.28: Ledger of account number 338 LIST OF DIAGRAMS Diagram 1: Labor’s age and gender classification of BMJSC Diagram 2: Employee’s classification by nature of work Diagram 3: Chart of firm organization Diagram 4: Procedure of salary calculation and payment Diagram 5: Accounting Procedure for payroll Format đề mục, chữ nghiêng nghiêng hết, giống Em đánh lại số cho Diagram Phải chữ số giống Table v Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company INTRODUCTION In an economy, people are important factors, who are the main driving forces to create the productive forces People are also considered a decisive factor affecting the speed and sustainable development of the economy, bring a lot of value to the businesses One of the ways that the businesses commonly apply to attract and retain talents is to set a reasonable salary and regime, suitable to the capacity of employees For employees, salary is a factor that helps to maintain employee’s motivation to work, helps them to preserve and to work more effectively For businesses, accurately calculating and allocating wages and salary deductions to production costs will help businesses offer more reasonable product prices, thereby creating competition in the market Therefore, accounting for payroll and deductions play an important role in accounting practices in any businesses From these points of view, I realize the importance of the accounting for payroll and deductions I decided to choose the topic “Accounting procedures for payroll and payroll deductions at Binh Minh Joint Stock Company” for my thesis The thesis includes three main parts as following: Chapter 1: Features of labor, payroll and management of labor and payroll at Binh Minh Joint Stock Company Chapter 2: Current situation of accounting procedures for payroll and payroll deductions at Binh Minh Joint Stock Company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Chapter 3: Improvement of accounting procedures for payroll and payroll deductions at Binh Minh Joint Stock Company CHAPTER I: FEATURE OF LABOR AND PAYROLL AND MANAGEMENT OF LABOR AND PAYROLL AT BINH MINH JOINT STOCK COMPANY 1.1 Features of labor and payroll at Binh Minh Joint Stock Company 1.1.1An overview of the company and company human resources Labor is an essential element in the process of production and business activities of enterprises If an enterprise doen’t take care of managing its labor which causes production and business activities inefficiently Binh Minh Joint Stock Company (Binh Minh JSC) was established on 14 th June 2007 Binh Minh Joint Stock Company has its head office at the address: Group 8, Le Hong Phong ward - Phu Ly city - Ha Nam province, main business lines are: mining and processing stone under business license number 0700249761 was first registered on June 14, 2007, and changed for the 5th time on January 25, 2018, by the Department of Planning and Investment of Ha Nam Province Up to now, there are 40 employees divided into different departments suitable for each specialist Employees at Binh Minh Joint Stock Company are stable and work full-time in accordance with Vietnamese law Each labor contract between the company and the employee is required to last for at least one year, if there is any termination of the labor contract before the signed time between the two parties, the employee and the employer will have to pay Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company compensation according to the terms of the contract The labor at the company is quite young and have good health The quarry manager must have a university degree or higher in the technical discipline: chemical, ammunition, chemical technology in propellants, explosives, engineering, mining, mining engineering, geology, construction Furthermore, miners must have worked in blasting service for at least months In general, workers and employees are eager to work, and comply with the regulations of the company In recent two years, the Covid-19 epidemic has affected the operation of the company Therefore, the revenue and the profit have slowed down significantly However, the firm also tried to pay and maintain the salary for employees The detail of employee numbers is represented as below: No Department Number Board of director General director Accounting department 4 Production Department Safety committee Delivery department 10 Engineering 15 Total 40 Table1 1: Number of employees at Binh Minh Joint Stock Company The classification of department plays an important role in operating and managing Each department will work more efficiently and make better use of human resources In addition, the division of specific department will help the board of directors to manage the business more effectively From table 1.1 above, we can see that the division of labor is based on the nature of the firm's operations The enterprise Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company BINH MINH JOINT STOCK COMPANY Address: Group - Le Hong Phong - Phu Ly - Ha Nam Sample: S36-DN (Issued accordance with Circular 133/2016/TT-BTC August 26, 2016, of the Minitary of Finance) DETAILED BOOK Account number 3384 October 2021 Unit: VND Day and month of book entry A License Code B Description Date C 05/10 31/10 05/10 31/10 31/10 31/10 D Opening balance Arising during the month Payment for health insurance in September Reciprocal account number E x Arising number Debit Balance Credit Debit Credit 11,185,20 112 Health insurance payable in charge of employer in October 642 Health insurance payable on behalf of employees in October 334 Total arising amount 11,185,200 7,566,000 3,783,000 11,185,200 11,349,000 Closing balance 11,349,00 Ha Nam, October 31, 2021 Preparer Chief Accountant (Signature, name) (Signature, name) (Source: Accoun department of Binh Minh Joint Stock Company) Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Table 1.25: Detailed book of account number 3384 BINH MINH JOINT STOCK COMPANY Address: Group - Le Hong Phong - Phu Ly - Ha Nam Sample: S36-DN (Issued accordance with Circular 133/2016/TT-BTC August 26, 2016 of the Minitary of Finance) DETAILED BOOK Account number 3385 October 2021 Unit: VND Day License and month Code Date of book entry A B C D Reciprocal account number Description E 05/10 31/10 31/10 Credit Debit Credit 4,971,2 4,971,200 Payment for unemployment insurance in September Unemployment insurance payable on behalf of employees in October Total arising amount Closing balance Debit Surplus x Opening balance Arising during the month 05/10 Arising number 112 334 2,522,000 4,971,200 2,522,000 2,522, Ha Nam, October 31, 2021 Preparer Chief Accountant (Signature, name) (Signature, name) (Source: Accounting department of Binh Minh Joint Stock Company) Table 1.26: Detailed book of account number 3385 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company BINH MINH JOINT STOCK COMPANY Address: Group - Le Hong Phong - Phu Ly - Ha Nam Sample S03a-DN (Issued accordance with Circular 133/2016/TT-BTC August 26, 2016 of the Minitary of Finance) GENERAL JOURNAL Year 2021 Unit: VND Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Day and Licens Ledger No Description month of recorde e book Code Dat d entry e A B C D E F 31/10/2021 TU331 31/10/2021 Trade Union fees expense X in October 31/10/2021 TU331 31/10/2021 Trade Union fees expense X in October 31/10/2021 SI341 31/10/2021 Payment for social X insurance in charge of company 31/03/2021 SI341 31/10/2021 Social insurance payable X Preparer Chief Accountant on behalf of employees (Signature, (Signature, name) in October name) 31/10/2021 SI 341 31/10/2021 Social insurance X deductions in October 31/10/2021 HI 351 31/10/2021 Health insurance payable X in charge of employer in October 31/10/2021 HI 351 31/10/2021 Health insurance payable X on behalf of employees in October 31/10/2021 HI 351 31/10/2021 Health insurance X deductions in October 31/10/2021 UI 361 31/10/2021 Unemployment insurance payable on X behalf of employees in October 31/10/2021 UI 361 31/10/2021 Unemployment X insurance deductions in October Add to the next page (Source: Accounting department of Binh Minh Joint Stock Company) Reciproc al account number G The amount of money incurred Debit Credit 642 5,044,000 3382 642 334 3383 642 334 5,044,000 Ha42,874,00 Nam, October 31, 2021 20,176,000 Legal representative (Signature, name, 63,050,000 stamp) 7,566,000 3,783,000 3384 334 3385 11,349,000 2,522,000 2,522,000 Table 1.27: Extract of General Journal for entry related to account number 338 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company BINH MINH JOINT STOCK COMPANY Address: Group - Le Hong Phong - Phu Ly Ha Nam Sample: S03b-DN (Issued accordance with Circular 133/2016/TT-BTC August 26, 2016 of the Minitary of Finance) LEDGER (Used for general journal accounting form) Account name: Other payable Account number: 338 Unit: VND Day and month of book entry License Reciproc al account number Description Code Dat e The amount of money incurred Debit 82,267,600 Opening balance Arising during the month 31/10/202 31/10/2021 Insurances in charge company in October Credit of 642 82,267,600 55,484,000 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company 31/10/2021 31/10/2021 Insurances payable behalf of employees on 334 26,481,000 Total arising amount 81,965,000 Closing balance Ha Nam, October 31, 2021 Preparer (Signature, name) Chief Accountant (Signature, name) Legal representative (Signature, name, stamp) (Source: Accounting department of Binh Minh Joint Stock Company) Table 1.28: Ledger of account number 338 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company CHAPTER III: IMPROVEMENT OF ACCOUNTING PROCEDURES FOR PAYROLL AND PAUROLL DEDUCTIONS AT BINH MINH JOINT STOCK COMPANY 3.1 Assessing the current accounting procedures for payroll and payroll deductions at Binh Minh Joint Stock Company - In production and business, businesses are concerned about how to make profit An important factor to create profit is human labor which always plays a decisive role in production They participate in production and business activities mainly to satisfy their own material needs as well as their own spiritual needs Therefore, the payment of wages to employees plays an important role in creating labor productivity, thereby creating profits for businesses - Understanding the importance of the strength of the labor, Binh Minh Joint Stock Company has suitable policies for the employees However, there are also drawback in managing the payroll system in the company - After completing the internship on salary and salary deductions at Binh Minh Joint Stock Company, I have several assessments and evaluations about the accounting organization of the salary and the salary deductions These points will be presented below 3.1.1 Strength Accounting organizations for salary and salary deductions - The company manages the working time of employees through the daily timesheet, the daily timesheet is managed quite closely by the Human Resources Staff At the end of the month, these time sheets will be gathered at the Finance - Accounting Department to serve as the main basis for the Salary Accountant to calculate salary and salary deductions for employees at the company - The form of salary being applied by the company is time-based salary and product-based salary The time-based salary is applied in administrative departments having a fixed main working time The product- based salary is applied to the employees working in the quarry These workers can earn money based on the product completed depending on the position they are working The benefit of these workers is that they always ensured the basic salary adding the allowance agreed in the contract if they the salary following the product-based salary is lower than the labor contract As a result, the workers will be eager and enthusiastic to complete the tasks - The accounting department calculates and salary deductions accurately and fully in accordance with the regulations of the Ministry of Finance on salary regime and salary deductions The company also deducts salary deductions 60 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company including social insurance, health insurance, unemployment insurance and labor union in full and on time - The accounting of salary and salary deductions is applied in accordance with the provisions of Circular 133/2016/TT-BTC and by experienced accountants, the accounting is ensured in a timely, complete and accurate manner This helps the company manage the situation of labor, salary of employees in each department, from which, each year, the company will have a plan to adjust the number of employees, arrange labor effectively and scientifically - Comply with the regulations and regimes on salary promulgated by the State About the organization of the accounting apparatus - It is easy to see in the company that the organizational structure of the accounting apparatus is compact, suitable to the requirements of the job, the professional qualifications of each accountant in accordance with the characteristics, nature, and procedures, scale of production, business, use of capital, funding and decentralization of financial management in the company to meet the information needs of company leaders - With the current accounting system, the company ensures the unified focus of the chief accountant as well as the leadership of the Board of Directors for the general operation of the Finance - Accounting department This also ensures that accountants can promote their roles and functions, creating favorable conditions for the division of labor and specialization of accountants The company's accounting team has experience in similar positions and each person's accounting qualifications are solid to meet the requirements of management and accounting of salary and salary deductions as well as flexibility activating books and documents related to salary according to the accounting regime About the accounting voucher: - Currently, the company is applying the form of bookkeeping vouchers Bookkeeping vouchers are used to record vouchers there If the vouchers arise in large quantities, a list of vouchers of the same type can be made first Then the accountants add numbers to record the entry vouchers, and then add the data at vouchers recorded in the Ledger Therefore, it reduces a lot of recording in the Ledger and looking at the Ledger will not be confused The accounting document: - The company applies a system of vouchers and makes and records books based on the form issued by the Ministry of Finance and flexibly adjusts it to suit the actual accounting situation at the company The arising salary accounting operations are recorded fully and accurately in time and amount 61 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company The vouchers at the company are classified according to each accounting section, bound into books by month and stored at the Finance - Accounting department This is a very important basis for checking and comparing actual data with the data on the book The accounting software: - The company uses MISA accounting software assist enterprises in collecting, storing and performing all kinds of financial statements automatically according to current accounting rules according to Circular 133 issued by the Ministry of Finance - Integrating misa sme.net software with misa sme mobile application, notify financial statements for business owners to grasp the situation of accounting books timely, anytime, anywhere - Automatically detect errors on documents, reports and financial books to check and correct - Save processing time for work, high accuracy: Receive electronic invoices automatically recorded in books Reduce up to 80% of time, 90% of errors compared to accounting in the conventional form 3.1.2 Weakness Although the accounting work at Binh Minh Joint Stock Company has many advantages, the salary accounting and salary deductions also have many drawbacks as follow: About the organization of salary accounting - The enterprise has not used fingerprint scanning for timekeeping, so the timekeeping of employees is completely manual This leads to many inadequacies in timekeeping for employees Using Excel for payroll accounting requires accountants to be careful in collecting all documents and transferring data from vouchers into Excel tables because this easily causes objective errors in the data entry process Besides, the timesheet only shows the number of working days and the number of days off, but it does not show the early and late arrivals as well as the quality of each employee's work The payment of wages to employees in the company is sometimes delayed, there is still a situation of arrears of employees' wages, the amount of salary owed to employees will be paid in full within 15 days from the date of payment of salary each month About the organization of the accounting apparatus - - There is only payroll accountant taking on the role of collecting documents for salary calculation, so it can cause overload or delay in payroll work This creates pressure for the salary accountant position and causes some problems such as slow payroll, errors in the process of bookkeeping, accounting, etc 62 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company The relationship between Finance-Accounting department and other departments is not tight, leading to sometimes slowness in collecting Documents from related departments About the accounts used - - Binh Minh Joint Stock Company is an enterprise that exploits stone to supply materials for construction Although the company also has administrative and production department, the salary calculation is not clear between departments Currently, the accounting department only uses account 642 to account for business expenses (including administrative expenses and production expenses) Account 642 should have recorded only administrative expenses as expenses for deduction of insurances, salaries, and allowances of administrative staff The production expenses should be excluded This will help businesses manage expenses more effectively About paying salary to employees - Currently, the company pays employees in cash With such a large amount of money, it is easy to cause confusion, errors, and loss in the process of paying employees The payment of wages will take a lot of time, unscientific, not meeting the needs of workers 3.2 Suggestions to complete accounting procedures for payroll and payroll deductions at Binh Minh Joint Stock Company - Completing payroll accounting plays an important role because wages affect many aspects such as labor productivity, production, and business efficiency of the company, etc After doing the internship about the salary accounting system at the company and the current shortcomings of the salary accounting practice presented in Section 3.1.2, I would like to propose some solutions to improve the accounting of salary and salary deductions as follows: 3.2.1 Management of payroll and deductions - It is advisable to invest in a fingerprint scanner to accurately track the employee's working process This will help accounting and human resources reduce the burden and timekeeping for employees will be more accurate - The company should consider applying more effective salary timekeeping measures For example, the company can increase time of checking attendance in a day This helps the company control the number of people working - In addition, the Company should only let the Human Resources Staff manages the timesheets (instead of both department heads and department managers as before) and prepare documents and then send them to the 63 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company accountant to calculate the salary This will reduce the cumbersome process of document transfer as well as save time for timekeeping and management of employees' working time - In some cases, the company pays the salary slowly to the employees This can make them unhappy The solution is that the company needs to pay the salary to the employees on time to encourage them to work more effectively In order for the salary payment to take place on time, the Board of Directors needs to regularly promote the process of salary calculation and payment of the accounting department - Make advance deduction of leave salary to ensure employee's life - There should be a form of monthly reward for individuals with good labor productivity to promote high working morale 3.2.2 The organization of the accounting apparatus - There are people in the Finance department This number is not reasonable comparing to the workload because the accountants must take on many accounting functions For example, the cashier will take on collecting and disbursing cash funds, bank deposits and accounting for money in the company Besides, tax accountant in charge of preparing financial statements, calculating, and paying tax for enterprises The payroll accountant collects documents, calculates salary for employees The number of employees is increasing more and more, the more difficult in calculating the payroll and salary deductions and paying for the employees Therefore, the company should recruit more personnel to share the workload to ensure timely salary payment for the employees 3.2.3 The management of labor - Organize the rearrangement of labor to suit the job content, technological process to make full use of labor capacity and distribute wages according to the efficiency of labor contributions - The company needs to classify workers into different groups according to their own characteristics such as classification according to working time, classification according to the relationship with the production process, classification according to the function of labor to facilitate for accounting and management, creating high productivity and efficiency - The company should also create conditions for employees of the Accounting -Finance department to participate in internal professional classes organized by 64 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company senior managers to improve staff qualifications Therefore, financial accounting in general and salary accounting will be improved in terms of time and quality Organizing internal training courses can help the company save on external training costs and take advantage of the company's available resources 3.2.4 Accounting documents and documents transfer - The transfer of documents from one department to another in the company is very time consuming and going through a lot of procedures To save time, when there is a transaction, the transfer of documents and books from one department to another should be done as soon to avoid the accumulation of documents to the end of the period or may cause errors in documents or loss of documents 3.2.5 Accounts used - The company should account for administrative expenses and production costs separately Production cost should be recorded in account 154 according to Circular 133 Production and business expenses recorded in account 154 include the following expenses: +) Direct material cost +) Direct labor cost +) Cost of using machine +) Overhead cost +) Selling expense Allocating reasonable expenses to the right accounts will help businesses operate more efficiently Besides, it also helps businesses control costs more easily There are some benefits when the company controls the expenses effectively: +) Help the company improve its profits and competitiveness +) Help achieve higher productivity +) Controlling costs can also help the company reduce costs and thereby reduce product costs +) If the price of the product is stable and reasonable, it can sustain higher sales and create more jobs 3.2.6 Conditions needed for implementing proposed solutions  For these solutions are effective, the company needs to the following below: 65 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company - The company should apply more effective timekeeping measures, create initiative and accuracy in timekeeping of employees - It is recommended to supplement the system and the method of transferring documents within the company in a faster and more effective way - The company need to hire more accountants in charge of payroll - The company also needs to be concerned about the management of the labor and having the reasonable policies for bonus There should be a form of monthly reward for individuals with good labor productivity to promote high working morale Re-arrange employees to suit job content and technological processes to make full use of labor capacity and distribute wages according to labor contribution efficiency - Finally, the company should apply automatic timekeeping by machine Fingerprint time attendance not only helps businesses save maximum costs, but also helps managers easily track and manage events or entry and exit of their employees regardless of location Fingerprint time attendance machine is extremely flexible, can be used independently or integrated into the enterprise-scale time attendance system 66 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company CONCLUSION Having chance to intern at Binh Minh Joint Stock Company, I have gained a lot of things about the salary and the salary deductions I know that accounting for salary and deductions is an extremely important aspect which has a decisive influence on the operation of the company Therefore, the Board of Directors also pay attention to the work of salary accounting and salary deductions In this topic, I get more the information about salary accounting, salary deductions, the labor characteristics, and the current situation of salary accounting at the company According to the knowledge and the information I know, I have pointed out some advantages and disadvantages of the salary accounting and made some suggestions to improve the accounting aspect of salary and deductions at the company I would like to express my deepest thanks to my instructor, Assoc.Prof Nguyen Thanh Hieu Who supports and guides me enthusiastically Besides, I also would like to express my sincere thanks to the Board of Director and the accountant at Binh Minh Joint Stock Company for letting me as an internship in the company as well as guiding and supporting during my internship at the company Due to the limitation in the knowledge and experience, my thesis also has many shortcomings I am looking forward to receiving the comments and suggestions to improve my thesis in the best ways Thank you sincerely! 67 Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company Accounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.companyAccounting.procedures.for.payroll.and.payroll.deduction.at.binh.minh.joint.stock.company