What contents must be included in an accounting book in Vietnam? What are the types of accounting books for enterprises according to the latest regulations?
What contents must be included in an accounting book in Vietnam?
Pursuant to Clause 3, Article 24 of the Accounting Law 2015, the regulations are as follows:
Accounting Book
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3. An accounting book must include the following main contents:
a) Date, month, and year of entry;
b) Number and date, month, year of the accounting document used as the basis for entry;
c) A summary of the economic, financial transactions;
d) Amount of economic, financial transactions recorded in the accounting accounts;
đ) Opening balance, transactions during the period, closing balance.
An accounting book must include the following main contents:
- Date, month, and year of entry;- Number and date, month, year of the accounting document used as the basis for entry;- A summary of the economic, financial transactions;- Amount of economic, financial transactions recorded in the accounting accounts;- Opening balance, transactions during the period, closing balance.
What contents must be included in an accounting book? What are the types of accounting books for enterprises according to the latest regulations in Vietnam?
What are the types of accounting books for enterprises in Vietnam according to the latest regulations?
Pursuant to Subsection 1, Appendix 4 issued together with Circular 200/2014/TT-BTC, the types of accounting books are regulated as follows:
Currently, accounting books for enterprises according to the latest regulations include two types: general accounting books and detailed accounting books.
- General accounting books include: Journals and Ledgers.- Detailed accounting books include: detailed accounting books and cards.
Specifically, the purpose and content of general accounting books and detailed accounting books are as follows:
(1) General Accounting Books
- Journals are used to record economic, financial transactions occurring in each accounting period and throughout a fiscal year in chronological order and matching the accounts of those transactions. Accounting data in the Journal reflects the total debits and credits of all the accounting accounts used in the enterprise. The Journal must reflect the following contents fully:
+ Date, month of entry;
+ Number and date, month of the accounting document used as the basis for entry;
+ A summary of the economic, financial transactions;
+ Amount of economic, financial transactions.
- The Ledger is used to record economic, financial transactions occurring in each period and throughout a fiscal year according to the accounting accounts stipulated in the accounting policies applied to the enterprise. Accounting data in the Ledger reflects the aggregate situation of assets, capital sources, business performance, and results of the enterprise's operations. The Ledger must reflect the following contents fully:
+ Date, month of entry;
+ Number and date, month of the accounting document used as the basis for entry;
+ A summary of the economic, financial transactions;
+ Amount of economic, financial transactions recorded on the Debit or Credit side of the account.
(2) Detailed accounting books and cards
Detailed accounting books and cards are used to record economic, financial transactions related to accounting objects that need detailed tracking according to management requirements.
Data on detailed accounting books and cards provide information for managing each type of asset, capital source, revenue, expenses not reflected in the Journal and Ledger. The number, structure of detailed accounting books, and cards are not mandatorily regulated.
Enterprises, based on the State's guiding regulations on detailed accounting books and cards and their management requirements, open appropriate detailed accounting books and cards as necessary.
What are the principles and basic characteristics of the accounting book forms?
According to Appendix 4 issued together with Circular 200/2014/TT-BTC, the principles and basic characteristics of the accounting book forms involve:
For the General Journal form:
The principles and basic characteristics of the General Journal form: All economic, financial transactions occurring must be recorded in the Journal, with the main focus being the General Journal, in chronological order of occurrence and according to the economic content (accounting entries) of those transactions. Data from the Journals is then used to record in the Ledger according to each transaction.
For the Journal-Ledger form:
The basic characteristics of the Journal-Ledger form: Economic, financial transactions are recorded chronologically and by economic contents (by accounting accounts) in a single comprehensive accounting book called the Journal-Ledger. The basis for recording in the Journal-Ledger is the accounting documents or a Compilation of accounting documents of the same type.
For the Account Document form:
The basic characteristics of the Account Document form: The direct basis for recording general accounting books is the “Account Document.” Recording general accounting books includes:
- Recording chronologically on the Account Document Registration Book.- Recording by economic contents on the Ledger.
Account documents are made by accountants based on each accounting document or a Compilation of accounting documents of the same type, with similar economic content. Account documents are continuously numbered each month or year (by the sequential order in the Account Document Registration Book) and attached with accounting documents, must be approved by the chief accountant before being recorded.
For the Journal-Document accounting form:
The basic characteristics of the accounting form:
- Gather and systematize the occurring economic transactions according to the Credit side of the accounts combined with analyzing those transactions according to the Debit side accounts.- Closely combine recording economic transactions in chronological order with systematizing transactions by economic content (by account).- Broadly combine general and detailed accounting on the same accounting book and in the same recording process.- Use pre-printed forms that establish the account relationships, economic, financial management indicators, and financial reports.
Additionally, for the computerized accounting form:
The basic characteristics of the computerized accounting form are that accounting tasks are executed through accounting software on computers. Accounting software is designed according to the principles of one of the four accounting forms or a combination of the accounting forms stated above.
Accounting software may not fully display the recording process, but it must print the complete accounting books and financial reports as prescribed. Accounting software designed according to any accounting form will have the types of books of that form but may not entirely resemble the hand-written accounting book forms.
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