Principles of Accounting for Account 111 - Cash from the Year 2019

Section 3, Article 1 of Circular 112/2018/TT-BTC amending Circular 174/2015/TT-BTC, effective January 1, 2019, stipulates the accounting principles for Account 111 - Cash as follows:

- Account 111 is used to reflect the situation of receipt, expenditure, and cash fund balance in the customs authority's fund in Vietnamese Dong and foreign currencies. The content of cash reflected in this account includes tax amounts, other receivables from taxpayers, and individuals committing administrative violations, which are directly paid to the customs authority but have not yet been submitted to the State Treasury;

- Only the actual cash amount deposited and withdrawn from the fund is reflected in Account 111. When proceeding with depositing or withdrawing cash, there must be receipts and payment slips according to regulations. It is strictly prohibited to withdraw funds without preparing payment slips and without the approval signature of the unit leader on the payment slip;

- Accountants must open a cash accounting book to record continuously and daily in the order of occurrence of cash receipts, disbursements, and fund balance at any given time for each type of fund;

- The treasurer is responsible for managing cash and maintaining a fund book to monitor the daily cash deposit and withdrawal. By the end of the day, the actual cash fund balance must be inventoried and reconciled between the fund balance and the data on the fund book; between the fund balance and the data on the accounting book. If there is a discrepancy, the cause must be identified, and corrective measures for that discrepancy must be proposed.

The above are regulations on the accounting principles of Account 111 - Cash from 2019.

Respectfully!