Sales accounting services in Vietnam

Explore the benefits of professional sales accounting services in Vietnam to streamline your financial processes and enhance business efficiency. The sales process is an important stage for all types of commercial, manufacturing, and construction enterprises. So how does that process work? Let’s refer to the sales accounting service provided by Viet An tax agent.

What is Sales Accounting

Sales accounting is an item in the work of an internal accountant. The task to be done is to record documents, documents, purchase and sale contracts between the parties, record revenue and issue invoices on time. At the end of the term, they will be tasked with making a general sales report according to the management form requested by their superiors.

In general, the fluctuating salary of a sales accountant is from 6,000,000 to 9,000,000 VND, depending on the capacity and management experience of that employee. For a small, newly established company, this is a significant expense. Therefore, consider using sales accounting services to optimize the efficiency of the accounting process at a smaller cost.

Overview of sales accounting services provided by Viet An tax agent

Customer Information to Provide

Customers who trust and choose to use the sales accounting services of Viet An tax agent need to provide the following information:

• The business lines have been registered with the Business Registration Office of the Department of Planning and Investment where the company is headquartered.
• Estimated revenue recorded month by month.
• The number of contracts for the sale and purchase of goods is estimated monthly.
• The number of invoices sold is estimated to be issued monthly.

Viet An Tax Agent commits

Sales operations are the key to generating revenue and life for businesses. Therefore, Viet An tax agent commits:

• Absolute confidentiality of internal information of the business.
• Take responsibility for the figures and explain to the tax authorities related to the declared output VAT.
• Tasks and tasks performed by Viet An tax agent

The process of implementing a sales accounting service

In accordance with the contract signed by Viet An tax agent with customers who wish to use sales accounting services, the accountants of our tax agent will perform the following items of sales accounting operations:

Drafting dossiers and contracts for purchase and sale of goods

The sales dossier includes:

• Contract quotation for the customer.
• Drafting goods purchase and sale contracts.
• For construction enterprises (drafting and sending construction contracts to customers).
• Draft an appendix to the contract if there are any changes in terms compared to the signed service contract.

Track the progress of order processing

The accountant at Viet An tax agent will monitor sales-related activities on behalf of the customer’s business such as:

• Send the record of handover of goods.
• Track the progress of receiving and processing orders at shipping units.
• Statistics on sales and transfer data to managers.
• Calculate sales costs through stages.

Track payments and revenue recognition

Conditions for revenue recognition:

• Enterprises only record sales revenue when they simultaneously satisfy the following conditions:
• Enterprises have transferred most of the risks and benefits associated with the ownership of products and goods to buyers;
• The enterprise no longer holds the right to manage the goods like the owner or control of the goods;
• Revenue is determined relatively certainly. When the contract stipulates that the buyer is entitled to return the products or goods purchased under specific conditions, the enterprise may only record revenue when such specific conditions no longer exist and the buyer is not entitled to return the product or goods (except for the case where the customer has the right to return the goods in exchange for goods, other services);
• Enterprises that have or will gain economic benefits from sales transactions;
• Identify the costs associated with the sale.

Payment Process

• Send payment requests to customers and monitor debt collection progress.
• Issue value-added invoices exactly as in the contract.

Answering issues related to output VAT

• Consultancy on VAT rates applied when providing goods and services.
• Assist customers in handling problems related to sales invoices.
• Archive invoices as a condition for declaring output VAT.

Sharing experience as a sales accountant

The following are some valuable shares from the team of accountants at Viet An tax agency with more than ten years of experience in providing accounting services, including sales accounting services:

Proactively check and update inventory

Ensure that the goods in stock are not negative at the time of issuance of sales invoices. Accountants need to correct the time to serve the accurate cost calculation process.

Be careful in storing documents

A set of goods purchase and sale records should be carefully stored on a monthly or quarterly basis as a basis for reporting to the management and explaining to the tax authorities (when requested).

Close attention to the checkout process

Track customer receivables according to each invoice sold. Compare with the spending mandate and cash fund of the enterprise to avoid capital misappropriation. For bad debts, it is necessary to report to superiors for direction, debt cancellation for that subject and include them in the cost of the enterprise.

Above is the information related to sales accounting services provided by Viet An tax agent. Please contact us if your unit needs more advice and answers related to this segment!