Legal Counselling

Vietnam: Structure and contents of account 112 – Cash in bank

20:12, 19/12/2018

Circular No. 200/2014/TT-BTC of the Ministry of Finance of Vietnam has specified structure and contents of account 112 – Cash in bank as follows:

According to Article 109 of Circular No. 200/2014/TT-BTC of the Ministry of Finance of Vietnam, structure and contents of account 112 – Cash in bank are specified as follows:

Debit:

- Deposited VND, foreign currencies or monetary gold;

- Exchange rate differences due to re-evaluation of foreign currency balance at the reporting time (if foreign currency rate rises against VND).

- Positive differences due to re-evaluation of monetary gold at the reporting time.

Credit:

- Withdrawn VND, foreign currencies or monetary gold;

- Exchange rate differences due to re-evaluation of foreign currency balance at the end of accounting period (if foreign currency rate falls against VND);

- Negative differences due to re-evaluation of monetary gold at the reporting time.

Debit balance: Actual deposited VND, foreign currencies or monetary gold at the reporting time.

Account 112 – Cash in bank, comprises 3 sub-accounts:

- Account 1121 – VND: reflecting deposits, withdrawals and balance in the bank in VND.

- Account 1122 – Foreign currency: reflecting deposits, withdrawals and balance in the bank in foreign currencies converting into VND.

- Account 1123 – Monetary gold: reflecting the fluctuation and value of monetary gold deposited in the bank of the enterprise at the reporting time.

View more details at Circular No. 200/2014/TT-BTC of the Ministry of Finance of Vietnam, effective from February 05, 2015.

-Thao Uyen-

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