The indispensable stage in the construction process of the factory is where the cost of building an industrial factory is appropriate. So how is the accounting of the cost of industrial factory construction done? While the market has a growing demand for factory construction because the trend of industrialization is gradually being transformed. To know how the cost of building an industrial factory is accounted for, please see the article for more information about this as follows:
During the design and factory construction, all the above costs are fully invoiced
About materials: invoice of the contract to supply iron, steel and plastic materials…
Debt 152,1331
There are 111,112,331
+ Output and use Debt 241/have 152
+ Purchased materials are transported directly to the construction site without going through the warehouse. Debit 241; Debt 1331 / Credit 331 *
Payment: Debt 331*/ have 112
+ Receive invoices for finishing materials for auxiliary works such as electricity, water, cleaning electrical wires, water pipes, electric cables...
Inventory: Debt 152, 1331
There are 111, 112, 331*
+ Output and use: Debt 241 / have 152
+ If purchased materials are transferred directly to the construction site without going through the warehouse
Debt 241 ; Debt 1331 / Credit 111, 112, 331
After the work is completed, make a record of acceptance of the completed work and put into use, a record of confirmation of the completed volume of the work, a payment sheet for the work.
Aggregate costs 241 and 211 to put into use
Debt 211/ have 241
Depreciation costs must be allocated monthly
Debt 627, 641, 642 / Credit 214
Account used to record construction costs TK622.account TK622 to record direct labor costs paid for construction, production and service provision. It should be noted that labor costs include payables to employees under management within the company as well as to outsourced workers with labor on the project under construction.
Account 622 includes:
Dr. 622 for salary expenses, labor wages and deductions on prescribed salary
Cr 154, production in progress
When accounting for factory construction costs, it is also based on the salary calculation table for workers for construction, production and service provision, including main salary, supplementary salary and typical salary-based allowances such as:
Dr. 622
Cr 334 ( 3341 – Payables to public employees)
Cr 334 ( 3342- Wages paid to hired laborers)
Cases of social insurance, health insurance, and labor unions directly producing industrial products and providing services
Dr. 622
Account 338 (3382, 3383, 3384)
Accounting for advance payment of wages to perform the value of contracted and construction volumes does not apply to separate accounting organizations
Dr 141 – Advance payment for construction and construction of internal contract
Cr 111, 112..
Final settlement of advance on construction completion and handover value is approved and recorded:
Dr. 622
Account 141
The above is how the cost of factory construction should be appropriately accounted for. People can refer to this accounting method to apply it to cost accounting in future construction projects to have a basis for the calculation. Monitor project accounting in the most accurate way
