Accounting books of household businesses and individual businesses in Vietnam
What are regulations on accounting books of household businesses and individual businesses in Vietnam? Please advise soon.
Regulations on accounting books of household businesses and individual businesses in Vietnam
Accounting books of household businesses and individual businesses as prescribed in Article 5 of Circular 88/2021/TT-BTC, specifically as follows:
1. Contents of accounting books, opening, recording of entries, closure and retention of accounting books of household businesses and individual businesses shall comply with the provisions of Articles 24, 25 and 26 of the Law on Accounting and specific guidelines in Appendix 2 “Forms and methods for recording accounting books” enclosed herewith.
2. Household businesses and individual businesses may apply the provisions of Article 26 of the Law on Accounting on opening, recording of entries, closure and retention of accounting books on electronic devices in a manner that is suitable to the characteristics of their business operations.
3. Household businesses and individual businesses may apply the provisions of Article 27 of the Law on Accounting on correction of accounting books in a manner that is suitable to the characteristics of their business operations.
4. Household businesses and individual businesses shall use accounting books listed hereunder:
No.
Description
Code
1
Sales book
Form No. S1-HKD
2
Book of materials, devices, products and goods
Form No. S2-HKD
3
Book of business expenses
Form No. S3-HKD
4
Monitoring book of payment of taxes to state budget
Form No. S4-HKD
5
Monitoring book of payment of salaries and salary-based contributions of employees
Form No. S5-HKD
6
Cash fund book
Form No. S6-HKD
7
Book of bank deposits
Form No. S7-HKD
Purposes, forms and methods for recording of entries of accounting books are elaborated in Appendix 2 “Forms and methods for recording accounting books” enclosed herewith. A household business or individual business that has more than one business location is required to open accounting books to monitor each of its business locations in details.
Best Regards!
