1. Circular No. 133/2016 applies to small and medium enterprises (including micro enterprises) in all sectors, all economic sectors under the law on support for small and medium-sized enterprises except enterprises State, enterprises with over 50% of charter capital owned by the State, public companies, cooperatives, unions of cooperatives.
- According to Circular 133 / TT-BTC, small and medium enterprises can choose to apply the accounting regime according to Circular 200/2014 / TT-BTC and other amendments and replacements but must notify the tax authorities. .
- The accounting currency unit is Vietnam Dong. The main units of revenue and expenditure are in foreign currency, if meeting the requirements, it is possible to choose a foreign currency as the currency for recording the accounting books.
- Enterprises must obtain approval from the Ministry of Finance when adding level 1 or level 2 accounts or modifying level 1 or 2 accounts in terms of names, symbols, contents, and accounting methods.
- In addition, Circular No. 133 provides guidance for enterprises to open additional level 2 and level 3 accounts for those accounts that do not have level 2 and 3 accounts in the corporate accounting account system.
2. Small and medium business accounting accounts
The accounting regime for small and medium enterprises must ensure the following principles, according to Circular 133/2016:
- Accountants must open daily accounting books in the order of arising revenues, expenditures, input and output of currencies and calculate the existence of funds, each account.
- Cash receipts and payments must have receipts and payment receipts and have full signatures as prescribed. The account of a bank deposit must include a debit note, a credit note or a bank statement.
- The accountant must keep track of the details of money in original currency. If a transaction occurs in a foreign currency, it must be converted into the currency of accounting as follows: Debit party accounts with actual exchange rate; The Credit can choose the weighted average carrying rate or the actual exchange rate according to Circular No. 133 / BTC.
- If the enterprise uses the actual exchange rate to account for the Credit side, the exchange rate differences arising in the period will be recognized at the time of payment or periodical recognition.
- At the time of preparing the financial statements, the enterprise must re-evaluate the balance of foreign currencies according to the average transfer rate at the end of the period of the commercial bank where the regular transactions are made.
- The principles of accounting book recording, the structure and contents of each specific account are shown in Circular 133.
3. Small and medium enterprise financial statements
- Small and medium-sized enterprises must prepare and submit annual financial statements within 90 days from the end of the fiscal year to the tax office, the business registration office and the Statistics agency.
- Particularly for small and medium enterprises located in export processing zones, industrial zones and hi-tech zones, annual financial statements must be submitted to the zone management board if requested.
- In addition, Circular 133 of the Ministry of Finance also contains regulations on accounting vouchers, accounting books and the form of accounting for small and medium enterprises.
Circular 133/2016 / TT-BTC effective January 01, 01, includes the following chapters:
Chapter I - General Provisions
Chapter II- Accounting accounts
Chapter III - Financial Statements
Chapter IV - Accounting vouchers
Chapter V - Accounting books and accounting forms
Chapter VI - Implementation