Collating and completing accounting data in Vietnam

Accounting is an important and indispensable part of all business activities of a business. A tightly organized, transparent and accurate accounting system will help businesses manage their financial efficiency, while ensuring full compliance with legal regulations. However, in the process of operation, the accounting system of enterprises may encounter many problems such as errors in accounting, loss of invoices or lack of important records, leading to great financial and legal risks. To solve these problems, the accounting data collation and completion service of Viet An Tax Agent was born, in order to help businesses check, review and complete the accounting system accurately and professionally.

Why should you use the service of collating and completing accounting data?

• Collating and completing accounting data is an important task to help businesses detect insufficient accounting records and errors in accounting accounting.
• Help businesses promptly detect errors in the bookkeeping system to adjust and complete them in time before the tax authority inspects the business, helping businesses develop their business with peace of mind.

When needs collating and completing accounting data?

• Tax audit notification received by enterprise;
• Frequent accounting staff turnover necessitates comprehensive tax report review;
• Document management system exhibits disorganization, gaps, and substantial errors;
• Professional consultation required for resolving historical compliance issues;
• Accounting record completion and tax authority representation services needed.

Common problems in the accounting books of enterprises

Here are some common issues that businesses may encounter in the process of managing accounting books:

• Errors in recording and classifying transactions: Incorrect recording or misclassification of transactions can lead to inaccurate financial statements, affecting business decisions.
• Failure to comply with accounting and tax regulations: The incorrect application of accounting and tax regulations can lead to errors in tax reporting, causing businesses to face legal problems and tax penalties.
• Errors in the preparation and comparison of financial statements: Errors in the preparation or comparison of financial statements can cause confusion and falsify the financial information of the business, affecting the reputation and business activities.
• Failure to control cash flow and assets: Businesses have difficulty tracking and controlling cash flow, which can lead to inefficient spending or financial shortages during critical periods.
• Lack of transparency and consistency in accounting books: Businesses may encounter a lack of transparency and inconsistency in books, reducing the reliability of financial statements and difficulties in checking and reviewing data, etc
• Failure to detect financial frauds in time: Financial frauds may not go undetected without thorough review, causing serious damage to businesses.

The process of collating and completing accounting data

Step 1: Check and review the comprehensive accounting system

• Check all books and accounting systems: The accounting team will conduct an audit of all books and accounting systems of the business to determine accuracy and appropriateness. This process includes checking general and detailed accounting books, ensuring that all economic and financial transactions are recorded in a complete and accurate manner.
• Review of accounting documents: Viet An Tax Agent will check the suitability of accounting documents, ensure that they fully meet the provisions of the law and properly reflect the economic transactions that arise.
• Accounting for arising operations: Viet An Tax Agent will verify how to account for arising operations and make adjustments if necessary to ensure the accuracy of accounting data.
• Classification of expenses: Viet An Tax Agent will check and classify the expenses of the business in a reasonable way, eliminate unreasonable expenses and ensure that all expenses are accounted for in accordance with accounting standards.
• Adjustment and submission of VAT reports: Viet An Tax Agent will adjust, prepare and submit monthly/quarterly VAT reports to businesses, ensuring full compliance with tax regulations.
• Check the finalization of corporate income tax and personal income tax: Viet An Tax Agent will support businesses to check and finalize corporate income tax and personal income tax, ensuring that they fully comply with tax regulations.
• Consulting on how to prepare financial statements: Viet An Tax Agent will advise businesses on how to prepare financial statements in accordance with the law, helping businesses get a comprehensive picture of their financial situation.

Step 2: Prepare a report and propose appropriate solutions

• Summarize the inspection results: After completing the inspection process, we will summarize the inspection results and make a detailed report on the status of the accounting system of the enterprise.
• Suggest improvement solutions: Based on the test results, we will propose specific solutions to improve the accounting system, help businesses overcome errors and improve the efficiency of financial management.
• Guiding and supporting businesses to implement solutions: we will guide and support businesses to implement the proposed solutions, ensuring that all problems in the accounting system are thoroughly and effectively solved

Step 3: Evaluate the effectiveness after reviewing and maintaining the accounting system

• Evaluate the effectiveness of the accounting system after the review: we will re-evaluate the effectiveness of the accounting system after the solutions have been implemented, ensuring that the accounting system of the enterprise operates efficiently and accurately.
• Providing accounting system maintenance services: In addition, we also provide accounting system maintenance services for businesses, helping businesses maintain and improve financial management efficiency in the long term.

Contents of the work of collating and completing accounting data

• Inspect and review the entire accounting system of the enterprise
• Checking the conformity of accounting documents;
• Examining the accounting method of arising operations;
• Check reasonable and unreasonable expenses;
• Inspect the preparation and declaration of monthly/quarterly VAT reports;
• Inspecting the preparation of enterprise income tax finalization reports;
• Examining personal income tax finalization dossiers;
• Inspecting the preparation of the annual financial statements;
• Adjusting and supplementing errors that are not in accordance with the provisions of tax and accounting policies;
• Completing the accounting system and books, re-making financial statements and annual tax finalization returns;
• Consulting and handling unreasonable costs;
• Re-enter the year’s accounting data, allocate costs, and account according to standards;
• Reset accounting book numbers
• Re-make financial statements and annual tax finalization returns in accordance with the provisions of tax and accounting laws;
• Make adjustments to tax reports when there are discrepancies.

Benefits of using accounting book review services at Viet An Tax Agent

Accounting book review services at Viet An Tax Agent bring practical benefits to help businesses manage their finances effectively, minimize legal and tax risks. Here are the outstanding benefits that our service offers:

• Ensure accuracy and legal compliance: Services help businesses detect and correct errors in recording and preparing financial statements. This helps the accounting books to always be accurate, and at the same time ensures full compliance with accounting and tax regulations.
• Reduce tax and legal risks: Reviewing accounting books helps businesses avoid errors in tax declaration, thereby minimizing the risk of being sanctioned or collecting tax arrears. It also helps ensure that the business complies with financial reporting regulations.
• Enhance financial transparency: Services help businesses maintain a clear and transparent accounting system, improve credibility with partners, customers and stakeholders, and provide a clear view of the financial situation of the business.
• Strategic decision-making support: Reviewing accounting books provides accurate financial information, helping businesses make strategic decisions such as expanding production, investing or saving costs in a reasonable way.
• Save time and costs: With the support of a team of experts, review services help businesses save time and effort, while minimizing costs incurred due to accounting errors.

Why should you choose the service of reviewing and collating and completing accounting data at Viet An Tax Agent

• Long-term experience: With many years of experience in the field of tax accounting, Viet An Tax Agent has helped thousands of businesses and business households optimize their accounting and tax processes. We understand each specific problem that businesses face, helping to provide quick and effective solutions.
• Experienced expert team: We own a team of well-trained experts with accounting certificates, high professional qualifications and education from university or higher. The staff of Viet An Tax Agent is constantly learning and updating the latest knowledge in the finance, accounting and tax industry.
• Commitment to prestige and quality: Viet An Tax Agent is committed to providing professional accounting services, ensuring accuracy, transparency and full compliance with legal regulations. We not only provide effective accounting solutions but also are a reliable companion to help businesses overcome all challenges in financial management.
• Comprehensive solutions for all types of businesses: Viet An Tax Agent’s services meet the needs of small and medium-sized enterprises, business households and import-export, construction, and manufacturing enterprises. We always offer appropriate solutions to help businesses save costs and grow sustainably.
• Dedicated support, timely answers: We are always ready to listen and advise and support customers 24/7 to solve accounting and tax issues quickly and effectively. With Viet An Tax Agent, you never have to worry about financial and accounting issues.

If you have any difficulties or questions related to the service of collating and completing accounting data, please contact Viet An Tax Agent for the most specific advice.