The Ministry of Finance of Vietnam has promulgated Circular 88/2021/TT-BTC dated 11/10/2021 guiding the creation of certificates from accounting and bookkeeping of business households and individuals.
Article table of contents
New guidance on accounting regime for business households and individuals (Artwork)
About accounting vouchers
In Article 4 of Circular 88/2021/TT-BTC of Vietnam stipulating the contents of accounting vouchers, the making, storage and signing of accounting vouchers of business households and individuals shall be applied according to the following regulations:
(1) Contents of accounting vouchers:
Accounting vouchers must contain the following principal contents:
- Name and number of the accounting voucher;
- Date, month and year of making accounting vouchers;
- Name and address of the agency, organization, unit or individual making the accounting voucher;
- Name and address of the agency, organization, unit or individual receiving the accounting voucher;
- Content of arising economic and financial operations;
- Quantity, unit price and amount of economic and financial operations recorded in numbers; the total amount of accounting vouchers used for money collection and payment, written in numbers and words;
- Signatures, full names of the makers, reviewers and people related to the accounting vouchers.
(In addition to the main contents of the above-mentioned accounting vouchers, accounting vouchers may have other contents according to each type of voucher).
(2) Making and storing accounting vouchers:
- The arising economic and financial operations related to the operation of the accounting unit must make accounting vouchers.
Accounting vouchers are made only once for each economic and financial operation.
- Accounting vouchers must be made clearly, completely, timely and accurately according to the content specified on the form. In case the accounting vouchers do not have a template, the accounting units may make their own accounting vouchers but must ensure all the main contents of the above-mentioned accounting vouchers.
- Contents of economic and financial operations on accounting vouchers must not be abbreviated, erased or modified; when writing must use ink pen, numbers and letters must be continuous, without interruption, and blank spaces must be crossed.
The vouchers have been erased, corrected, and have no payment value and are recorded in the accounting books. When writing wrong accounting vouchers, they must be cancelled by crossing out the wrongly written vouchers.
- Accounting vouchers must be made with the prescribed number of copies. In case many accounting vouchers must be made for an economic or financial operation, the contents of the copies must be the same.
- For accounting vouchers made in the form of electronic vouchers, the provisions of Article 17 of the Law on Accounting of Vietnam must be complied with.
(3) Signing accounting vouchers:
Accounting vouchers must have full signatures according to the titles specified in the vouchers. Signatures on accounting vouchers must be signed in indelible ink.
Accounting vouchers must not be signed in red ink or stamped with pre-engraved signatures. Signatures on accounting vouchers of one person must be consistent. Signatures on accounting vouchers for blind people must comply with the Government's regulations.
Note:
- Signatures on accounting vouchers must be signed by an authorized person or an authorized person. It is strictly forbidden to sign accounting vouchers when the contents of the voucher are not fully recorded under the responsibility of the signer.
- Cash payment accounting vouchers must be signed by a person competent to approve payment and chief accountant or authorized person before implementation. Signatures on accounting vouchers used to pay money must be signed in each copy.
- Electronic vouchers must have an electronic signature. Signatures on electronic documents are as valid as signatures on paper documents.
In addition, accounting vouchers for business households and individuals must also comply with specific instructions in Appendix 1 "Form and method of making accounting documents" issued together with Circular 88/2021 of Vietnam
Business households and individuals shall apply accounting vouchers according to the following list:
About the Accounting Book:
Accounting contents, book-opening, book-keeping, book-closing and storage of accounting books of business households and individuals shall be applied according to the provisions of Articles 24, 25, and 26 of the Law on Accounting of Vietnam and implemented under specific instructions in Appendix 2 "Forms and methods of recording accounting books" issued together with Circular 88/2021 of Vietnam
Business households and individuals use accounting books according to the following list:
Determine revenue, expenses, tax liability
The determination of revenue, expenses, and tax obligations for each business field and line of business of business households and individuals shall comply with the provisions of the tax law.
The accounting work is organized as follows:
- The arrangement of accountants of business households and individuals shall be decided by the representative of the business household or business individual.
The representative of a business household or business individual may arrange his or her biological father, mother, adoptive father, adoptive mother, wife, husband, biological child, adopted child, brother, sister or younger brother as an accountant for the business household, business individuals or appointing people to act as managers, executives, storekeepers, cashiers, people who are assigned the task of regularly buying and selling assets to work as accountants for business households and individuals.
- Business households and individuals shall comply with the accounting regime guided in Circular 88/2021 of Vietnam or be selected to apply the micro-enterprise accounting regime to suit management needs and operational characteristics and business of business households and individuals.
- Business households and individuals may apply the provisions of Article 41 of the Law on Accounting of Vietnam and Articles 9 to 17 of Decree 174/2016/ND-CP to preserve and archive accounting documents in order to serve the purpose of serving customers. Service for determining tax obligations of business households and individuals doing business with the state budget and the management of business households and individuals by tax authorities.
Circular 88/2021/TT-BTC takes effect from January 1, 2022 and replaces Decision 169/2000/QD-BTC; Decision 131/2002/QD-BTC of Vietnam.
Bao Ngoc
