Forms of storage of electronic accounting documents in Vietnam

Forms of storage of electronic accounting documents in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Forms of storage of electronic accounting documents in Vietnam

The forms of storage of electronic accounting documents in Vietnam according to Article 10 of Decree 174/2016/ND-CP is as follows:

- Every accounting record and accounting book must be printed out for archiving. The electronic accounting documents must be stored safely and accessible.

State accounting units (except for state budget collectors and users) that use electronic accounting documents must print out the general accounting books, have them signed and stamped (if any) for archiving.

The legal representative of an accounting unit shall decide whether to print out accounting records, detailed accounting books and other accounting documents.

State budget collectors and users shall comply with regulations of the Minister of Finance.

- The accounting unit shall print out the electronic accounting documents and have them signed and stamped by the legal representative or chief accountant (or acting chief accountant) whenever a competent authority needs them for inspection or audit purposes.

2. Regulations on preservation, retention and publication of accounting documents and information in Vietnam

Regulations on preservation, retention and publication of accounting documents and information in Vietnam according to Article 9 of Decree 174/2016/ND-CP are as follows:

- Accounting documents retained must be original copies as prescribed by law, except:

= Accounting documents specified in Clause 2 and Clause 3 Article 6 of Decree 174/2016/ND-CP, each which has only one original copy but has to be retained by more than one entities, in which one of them may retain the original copy while the others may retain its photocopies.

= Impounded or confiscated accounting documents as prescribed in Clause 4 Article 6 of Decree 174/2016/ND-CP, in which case their photocopies may be retained together with the document transfer record specified in Clause 2 Article 7 of Decree 174/2016/ND-CP.

= Accounting documents that are lost or destroyed by inevitable incidents specified in Clause 5 Article 6 of Decree 174/2016/ND-CP, in which case their photocopies may be retained.

In the cases where photocopies of them are unobtainable as mentioned in Clause 6 Article 6 of Decree 174/2016/ND-CP, the accounting unit shall retain the document certifying that such photocopies are unobtainable.

- Accounting documents must be fully and safely stored by accounting units. Each accounting unit shall establish its own rules for management, use and storage of accounting documents, which specify the responsibility and right of each department and accountants.

An accounting unit that is an extra-small enterprise is not required to establish its own rules for management, use and storage of accounting documents but has to fully and safely retain them as prescribed.

An accounting unit must provide adequate equipment for management and storage of accounting documents. Accountants are responsible for protection of their accounting documents.

- The legal representative of an accounting unit shall decide whether to store its accounting documents physically or electronically. The storage of accounting documents must be safe, secured and information must be provided at the request of competent authorities.

- Accounting documents must be fully and systematically stored and sorted by creation date.

- The legal representative of the accounting unit shall promptly provide information and accounting documents to tax authorities and competent authorities as prescribed by law.

The authorities provided with accounting documents shall protect them and return them in time and in full after use.

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