Instructions for preparing and signing accounting documents of small and medium-sized enterprises in Vietnam

Instructions for preparing and signing accounting documents of small and medium-sized enterprises in Vietnam (Internet image) 

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

1. What are accounting documents?

According to Clause 3, Article 3 of the Law on Accounting 2015, accounting records are documents and storage devices that contain economic/financial transactions that occur and have been complete as the basis for making accounting books.

2. Instructions for preparing and signing accounting documents of small and medium-sized enterprises in Vietnam

The preparation and signing of accounting documents for small and medium-sized enterprises is prescribed in Article 85 of Circular 133/2016/TT-BTC, as follows:

- Business and financial transactions related to the enterprise’s operation must be recorded into accounting documents. Only one accounting document shall be prepared for each transaction.

- Accounting documents must be clear, timely, accurate and conformable with templates. An accounting unit may design accounting documents without templates as long as they are conformable with provisions of the Law on Accounting 2015.

- Abbreviations, erasures and adjustments are not allowed on accounting documents; Accounting documents must be written with pens; numbers and text must be written continuously without interruption; blank spaces must be crossed out. Accounting documents that contain erasures or adjustments are invalid. Erroneous accounting documents shall be crossed out.

- Each accounting document must have adequate copies. In case multiple copies are required for a single economic-financial operation, their contents must be identical.

- Accounting documents shall bare adequate signatures and positions of the signers. Indelible ink must be used for signatures on accounting documents. Do not use red ink or signature stamps on accounting documents. A person’s signatures on accounting documents must be consistent. The persons who prepare, approve and sign accounting documents are responsible for contents thereof.

- Accountants of an enterprise that does not have a chief accountant shall make transactions with customers and banks, etc. The chief accountant’s signature shall be received by signatures of such accountants. The accountants shall perform the chief accountant’s rights and obligations.

- Accounting documents shall be signed by authorized persons. An authorized person must not sign an accounting document before it is completed.

- The General Director (Director) or legal representative of the enterprise shall decide the persons authorized to sign accounting documents in accordance with law and suitable for asset control and protection.

- Payment vouchers must be signed by the authorized person or the chief accountant before paying. Every copy of a payment voucher must be signed.

- The chief accountant (or authorized person) must not sign accounting documents on behalf of the head of the enterprise. The authorized person must not authorize another person to sign accounting documents.

- Electronic documents shall bear electronic signatures. Signatures on electronic documents are as valid as those on physical documents.

3. What are the general regulations on accounting documents of small and medium-sized enterprises in Vietnam?

Pursuant to Article 84 of Circular 133/2016/TT-BTC, general regulations on accounting documents of small and medium-sized enterprises in Vietnam are as follows:

- Accounting documents used by enterprises must comply with provisions of the Law on Accounting, its elaborating Decrees and amendments thereto.

- All templates of accounting documents in Appendix 3 enclosed with Circular 133/2016/TT-BTC are instructional. Enterprises may design their own accounting documents to satisfy their needs as long as they are conformable with the Law on Accounting 2015, clear, transparent, easy to inspect and compare.

- Enterprises that do not design their own accounting document may apply the templates in Appendix 3 enclosed with Circular 133/2016/TT-BTC.

- Enterprises having special financing activities that are regulated by other legislative documents shall apply their provisions.

Nguyen Ngoc Que Anh

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