Accounting record review service in Vietnam

Enterprises after many years of operation often encounter inadequacies in accounting due to the main reasons: Changing the personnel of the accounting department, accounting books scandals without finding a solution. If errors in the dossier are not addressed in the right direction, it will take a lot of time, even complicating the problem. Therefore, the accounting record review service of Viet An tax agent was born to support businesses to thoroughly solve outstanding problems. With service of Viet An Law – Tax Agent, your unit will be completely assured in accounting and tax issue throughout the production and business process.

Abnormal signs that need to be reviewed accounting records

The following will be 2 basic abnormal signs that businesses need to review accounting records:

Unreasonable indicators on financial statements

• VAT is deducted negatively continuously and suddenly increases inventory: Businesses are importing a large number of goods for the purpose of deducting input VAT, but the amount of inventory is inversely proportional to sales revenue. Therefore, problems in tax and expense management.
• Revenue from the provision of goods and services is smaller than the cost of goods sold, leading to negative gross profit. Thus, inadequacies in the accounting process and method of calculating the ex-warehousing price.
• There is an abnormal fluctuation of interest: Gross profit fluctuates highly compared to previous years while the type of business of the enterprise is commercial.
• Accounts receivable to customers with outstanding loans continuously over the years. Inadequate debt management of enterprises, high risk of capital loss.
• Account 131 balance is continuous over the years: The continuous maintenance of account 131 balance can be a sign of a problem in liability management.
• Difference between revenue and CIT compared to VAT returns: Inconsistencies between the figures used for reporting.
• The arising of account 334 does not match the PIT finalization. Errors in the accounting process and the allocation of taxable incomes.

Unreasonable expenses in the fiscal year

• Large borrowing costs while the cash fund is still large: A sign of irrationality in the financial management of the enterprise.
• Incur expenses for renting an office or car but lack of documents => It is very likely that it will be excluded when calculating CIT.
• Employee salaries are wrongly accounted according to regulations: The management of personnel records and participation in social insurance is not in accordance with the law.
• Depreciation expense is wrongly deducted: Fixed assets have expired but continue to incur a balance of 214 and are included in the company’s shares.

Accounting record review service at Viet An tax agent

The service of reviewing accounting records at Viet An tax agency was born with the aim of helping businesses solve inadequacies in accounting records. This support from our unit helps to promptly warn and provide optimal solutions for customers about the management of books and records according to the system, complying with current accounting laws. The accounting record review service will help the client solve the following key issues:

Inspect and review the accounting system

The chief accountant at Viet An tax agency will review and re-evaluate the accounting work of the client unit according to the following steps:

• Check the correctness of accounting documents.
• Classify reasonable expenses, consider and revise the process of accounting for arising economic operations.
• Collect invoices and documents and submit VAT reports.
• Check financial statements and CIT and PIT finalization reports.
• Completing accounting records and books for businesses
• Processing and completing missing economic documents
• Allocating and recalculating expenses for businesses.
• Correcting incorrect accounting operations, performing year-end carry-over entries.
• Re-make financial statements for businesses.

Explanation when making tax finalization

The specialist of Viet An tax agent will be responsible for explaining to the tax authority the data of the books that have been made. This ensures the transparency and professionalism of all accounting records over the years as a basis for making financial statements for the following accounting years.

Please contact us – Viet An Tax Agent if your business has abnormal signs in the books and accounting work! Accounting record review services are conducted in a timely and accurate manner at a reasonable cost, helping businesses to solve outstanding problems related to records and books.