Structure of accounting accounts of the State Bank of Vietnam

Structure of accounting accounts of the State Bank of Vietnam (Internet image)

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

1. Structure of accounting accounts of the State Bank of Vietnam

According to Article 5 of Circular 19/2015/TT-NHNN, the accounting accounts of the State Bank of Vietnam are arranged according to a multi-level decimal system with the following structure:

A.B.C.D.E.F

(1) Group A: is a 5-digit unit code A₁ A₂ A₃ A₄ A₅, representing the units of the State Bank with separate accounting reports. The unit code is used to distinguish which unit the journal entry belongs to and supports the horizontal addition function from the branch level to summarize the accounting report data of the entire SBV. In there:

- A₁ A₂ A₃ is the unit ordinal number (from 001 to 999);

- A₄ A₅ is the ordinal number of the Construction Management Board under the SBV unit (from 01 to 99).

(2) Group B: is the department/department code consisting of 2 digits B₁ B₂ (from 01 to 99) used to group economic and financial transactions arising by each department/division of each unit.

(3) Group C: is a general account code consisting of 8 digits C₁ C₂ C₃ C₄ C₅ C₆ C₇ C₈ used as a basis for general accounting and making a unified accounting balance sheet in all units of the State Bank. The SBV's general account is arranged as follows:

- Account type: includes 1 digit C₁ (from 0 to 9);

- Level I general account: including 3 digits C₁ C₂ C₃ in which C₁ is the type of account, C₂ C₃ is the ordinal number of level I accounts in the category (from 01 to 99);

- Level II general account: including 6 digits C₁ C₂ C₃ C₄ C₅ C₆ where C₁ C₂ C₃ is a level I account, C₄ C₅ C₆ is the ordinal number of a level II account in a level I account (from 001 to 999);

- Level III general account: includes 8 digits C₁ C₂ C₃ C₄ C₅ C₆ C₇ C₈ of which C₁ C₂ C₃ C₄ C₅ C₆ is a level II account, C₇ C₈ is the ordinal number of a level III account in a level II account (from 01 to 99).

(4) Group D: is a detailed account code used to monitor and reflect detailed information on a general account. This account code consists of 3 digits D₁ D₂ D₃ (from 001 to 999) reflecting the detailed account number in the general account.

The opening and use of detailed accounts shall comply with the management requirements of the State Bank.

(5) Group E: is a 5-digit inter-branch code E₁ E₂ E₃ E₄ E₅ (using a set of values like Group A) used to monitor payment flows between SBV units.

(6) Group F: is an active account code used to track and reflect detailed information for each specific accounting object, such as: currency, object, customer, type of transaction, etc. The length and structure of the active account are determined according to the business modules and application software.

2. Principles of opening and amending accounting accounts of the State Bank of Vietnam

The opening and modification of accounting accounts of the State Bank of Vietnam must comply with the principles specified in Article 6 of Circular 19/2015/TT-NHNN, specifically as follows:

- The accounting accounts after opening or modification must comply with the provisions of Article 5 of Circular 19/2015/TT-NHNN;

- The opening, modification, and closing of general accounts are done at the end of the day. After updating and storing the date, print the detailed accounting book and the day and month balance sheet according to the old account number and name;

- The conversion of the balance from the old account to the new account must meet the following requirements:

+ Correctly reflects the content and nature of the account;

+ The balance at the beginning of the accounting period, the amount arising from the beginning of the accounting period to the date of conversion, and the balance at the end of the conversion date of the old accounts remain unchanged when transferring to the new account;

+ After the date of conversion, the accounts recorded and printed on vouchers, accounting books, and accounting reports shall be shown according to the new account number;

+ At the conversion date, two balance sheets of accounting accounts must be made, printed, and stored: Balance sheet of accounting accounts according to the old account number and Balance sheet of accounting accounts with the new account number;

- Responsibilities for managing the accounting account system:

+ The management of group A, group B, group E, and group F account codes is carried out by the Department of Information Technology;

+ The management of group C and group D account codes is carried out by the Department of Finance and Accounting.

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