Vietnam: What are the regulations on the accounting for the transfer of money under the Reserve Fund issued between vaults from 2023?
What principles must money shipping follow in Vietnam?
Based on the content in Article 29 of Circular 33/2017 / TT-BTC, the principle of organizing money transportation is implemented as follows:
- Transfer of money between units of the State Treasury must be ordered by the General Director of the State Treasury or the Director of the Provincial State Treasury.
- Keep secrets about the time, route, means of transportation, place of delivery and receipt and volume and value of goods transported.
- Money when transported must be packed in bags, bags, boxes and sealed.
- Money transportation must go during the day (except for the case of transportation by plane, train, ship).
- Do not arrange people such as: Biological parents, adoptive parents (spouses), spouses, biological children, adopted children, siblings (including siblings and spouses) to make a transportation trip.
- Non-duty persons may not be accompanied on money transport (except in the case of public transport).
- The organization of transportation must comply with the process: Starting from the time of receipt, packing and sealing money; loading and unloading on transport vehicles; transportation on the road, to the place of delivery; money delivery and completion of delivery procedures as prescribed.
- The deployment of security forces to perform the task of escorting and protecting money on the way of transportation must ensure:
+ Money transport vehicles managed by the State Treasury, provincial State Treasury: There are police to protect and support.
+ Money transport vehicles managed by the district State Treasury: There are specialized guards or reinforcement officers equipped with escort and protection support tools.
Vietnam: What are the regulations on the accounting for the transfer of money under the Reserve Fund issued between vaults from 2023?
What are the regulations on money delivery in the banking industry in Vietnam?
Pursuant to Article 11 of Circular 01/2014/TT-NHNN amended and supplemented by Clause 1, Clause 2, Article 1 of Circular 19/2021/TT-NHNN on money delivery in the banking industry as follows:
Money forwarding in the banking industry
1. Delivery and receipt of money in bundles of 10 sealed raw materials or sealed whole money bags in the following cases:
a) Delivery and receipt of money within the Transaction Office and the State Bank's branches for money that has been circulated, except for the case specified at Points c and g, Clause 2 of this Article;
b) Delivery and receipt of money with a face value of VND 50,000 or more according to the transfer order between the central vault and the Exchange, the State Bank's branches and vice versa; between central vaults; between branches of the State Bank, except for the case specified at Point dd, Clause 2 of this Article;
c) Money delivery and receipt between transaction offices, State Bank branches and credit institutions, foreign bank branches and vice versa; between credit institutions and foreign bank branches in provinces and cities together
2. Money delivery according to sealed bags, boxes and boxes in the following cases:
a) Delivery and receipt of newly printed and minted currencies of printing and minting establishments or of the State Bank in the cases specified in Clause 1 of this Article;
b) Currencies that are counted, classified and packaged by the multifunctional machine system that handles the tallying, sorting and bundling (bags) continuously of the State Bank, credit institutions and foreign bank branches shall be delivered and received as newly printed and minted money specified in this Clause;
c) Export and import of circulating currencies between the issued reserve fund and the issuing professional fund of the State Bank's branch when decided in writing by the director of the state bank's branch.
d) Delivery and receipt of money with a face value of VND 20,000 or less according to the transfer order between the Central Vault and the Transaction Office, the State Bank's branches and vice versa; between central vaults; between branches of the State Bank;
dd) Delivery and receipt of money with a face value of VND 50,000 according to the transfer order between the central vault and the State Bank of Phu Tho, Nghe An, Binh Dinh, Vinh Long provinces and vice versa; between central vaults; between the State Bank's branches in Phu Tho, Nghe An, Binh Dinh and Vinh Long provinces;
e) Delivery and receipt of money within the Central Vault;
g) Delivery and receipt of money within the State Bank of Phu Tho, Nghe An, Binh Dinh and Vinh Long provinces when executing transfer orders
3. Credit institutions and foreign bank branches shall stipulate the delivery and receipt of money in the system.
Thus, the delivery of money in the banking industry is carried out in accordance with the above regulations. Depending on the case, there will be different forms of forwarding.
What is the content of accounting for the transfer of money under the Reserve Fund issued between central vaults in Vietnam?
Pursuant to the provisions of Article 15 of Circular 25/2022/TT-NHNN, the contents of accounting for money transfer under the Reserve Fund issued between central vaults are prescribed as follows:
- Accounting for money transfer in case of money export:
Based on the transfer order, warehouse export slip, Department of Finance - Accounting and Accounting:
TK 10100105 Debt - Issued Reserve Fund in Transit
(trackbook: Export vault and money material)
TK 10100101 - Money eligible for circulation
(trackbook: Export vault)
Or/and TK 10100102 - Money that is not eligible for circulation
(trackbook: Export vault)
Or/and Have TK 10100103 - Suspension of circulation
(trackbook: Export vault)
Or/and TK 10100104 - Sabotaged Money under the Issued Reserve Fund
(trackbook: Export vault)
- Accounting for money transfer in case of money entry:
Based on the transfer order, money delivery minutes, warehouse receipts, Department of Finance and Accounting:
TK debt 10100101 - Money eligible for circulation
(trackbook: Vault entry)
Or/and TK Debt 10100102 - Money that is not eligible for circulation
(trackbook: Vault entry)
Or/and TK Debt 10100103 - Outstanding Suspension
(trackbook: Vault entry)
Or/and TK Debt 10100104 - Sabotaged Money under the Issued Reserve Fund
(trackbook: Vault entry)
TK 10100105 - Issued Reserve Fund in Transit
(trackbook: Vault entry and material of money)
Circular 25/2022/TT-NHNN will come into force from February 15, 2023.
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