One manifestation of the Vietnamese government's efforts and determination to strengthen tax management and curb tax fraud in recent years is the tightening of control over invoices and input documents of businesses. This marks an important step towards ensuring a transparent business environment and enhancing the awareness and accountability of businesses.
One of the first and most important tasks is for businesses to ensure that the documentation proving the transactions is GENUINE, logically based, relevant, and necessary for their business operations.
So, what does a basic set of documents, ensuring sufficient evidence to prove the authenticity of transactions, include? This article will help your business decipher these issues.
1. What is an accounting document set?
Accounting documents are crucial evidence reflecting the expenses and financial transactions of each business. Only with valid documents can accountants record transactions and prove their authenticity, enabling the business to claim tax deductions.
See more: What constitutes a legal, reasonable, and valid invoice or document?
Below is a suggested set of complete accounting documentation for several common transactions, specifically:
2. Accounting documents for the purchase of raw materials and goods.
When purchasing goods and raw materials domestically, the accounting documents will include:
- Economic contract (Sales contract) between the two parties; Purchase order;
- Goods delivery and receipt record;
- Warehouse receipt;
- Input VAT invoice;
- Payment voucher: for invoices with a total payment amount under 20 million VND / Payment order or non-cash payment document: for invoices with a total payment amount of 20 million VND or more;
- Other relevant documents, if any.
In addition, the following documents may be included:
- Delivery note from the seller;
- Contract termination agreement.
When a business imports goods and raw materials, the documentation will include:
- Commercial contracts, contracts for the sale of goods, processing of goods, and provision of services;
- Import customs declaration form and its appendices. These are documents declaring goods for import or export to the customs authorities, confirming that the goods meet the requirements for export or import into a country;
- Bank payment documents: Debit note;
- Commercial invoice. This is a document issued by the exporter to inform the buyer of payment for goods sold according to the terms agreed upon in the contract;
- Documents proving payment of import taxes;
- Goods and materials receipt form;
- Invoices for services related to import activities include: insurance, international transportation, domestic transportation, inspection, loading and unloading, documentation fees, and warehousing.
- Each import transaction has its own complete set of tracking documents.
3. Complete accounting documentation for the sale of goods and services.
For goods and services provided domestically, businesses need to have:
- Sales contracts, service contracts, order forms, etc.;
- Sales delivery note. If the business sells goods through agents, use the Sales Delivery Note for Goods Consigned to Agents.
- Receipt confirming the delivery and receipt of goods;
- VAT invoice (applicable to businesses paying VAT using the deduction method) / Sales invoice (applicable to businesses paying VAT using the direct method or trading in goods not subject to VAT);
- Contract termination;
- Sales report;
- Retail sales statement for goods and services;
- Consignment payment statements. These reports are also subject to the requirements and procedures of each company and may vary.
- Counter card;
- Payment slip;
- Daily receipt and payment statement;
- Records of excess or shortage of goods, records of sales discounts, records of returned goods… and other types of records as specifically required by each unit;
- Receipt, credit note;
- Other related documents may be required depending on the specific business sector and processes.
For goods and services exported abroad, businesses need to have:
- A contract for the sale of goods, processing of goods, or provision of services. This contract serves as the legal basis between the buyer and the seller, containing information about the buyer and seller, information about the goods, delivery terms, payment terms, and other accompanying conditions.
- Customs declaration form. For international sales, this is an important and rather complex procedure;
- Documents proving payment of import taxes;
- Commercial invoice;
- Bank payment documents;
- Other documents may be required depending on the specific business requirements of each company.
4. Fixed asset accounting records
The accounting records for fixed assets will include the documents specified in each case as follows:
- Decision to purchase assets;
- Property purchase contract;
- Record of asset handover;
- Invoice for the purchase of fixed assets;
- Attach asset tags to newly purchased assets;
- Contract termination;
- Payment voucher.
In the case of basic construction, the following additional information is required:
- Project settlement documents (if it is a construction project);
- Minutes of acceptance and handover of the project.
- Decision to liquidate or destroy assets;
- Asset liquidation contract;
- Record of asset handover;
- VAT invoice for asset liquidation;
- Contract termination;
- Payment voucher.
- Register for depreciation of fixed assets;
- Fixed asset depreciation schedule.
5. Complete documentation for salary and wage expense transactions.
- Policies and regulations regarding salaries and bonuses;
- Salary scales are developed by the company itself.
- Collective labor agreement;
- Labor contract;
- Decision on salary increase (in case of a salary increase);
- Monthly time sheet;
- Payroll statement;
- Salary payment voucher, or bank statement if payment is made through a bank;
- Personal income tax identification number (list of employees registered with personal income tax identification numbers, accompanying documents);
- Photocopy of ID card.
Form 23/BCK-TNCN commitment form if 10% of income is not deducted before salary payment.
- Subcontracting agreement;
- Personal information of the person who entered into the subcontracting agreement;
- Handover record;
- Acceptance report.
6. Business trip payment documents
For business trip payment transactions, the following documents are required:
- Decision to send on business trip: Clearly state the information of the employee being sent, the purpose, duration, and means of transportation;
- The travel authorization form must be certified by the company sending the employee on business (departure date, return date), by the place of assignment (arrival date, departure date), or by the guesthouse where the employee is staying.
- Documents and invoices related to travel: such as airline tickets, train/bus tickets, hotel bills, taxi receipts, etc.
- The payment documents comply with financial regulations and tax laws.
7. Documents proving payment of allowances to employees
For employee allowances such as travel allowance, telephone allowance, clothing allowance, lunch allowance, dinner allowance, etc., businesses need the following documents:
- Allowances must be specified in the following documents:
- Labor contract;
- Collective labor agreement;
- Financial regulations;
- Payment vouchers for employee salaries.
8. Accounting documents related to welfare expenses such as funerals, weddings, birthdays, and vacations.
- Economic contracts, contract termination if hiring service providers;
- List of employees eligible to participate in the vacation trip;
- The Director's decision regarding vacation leave, the decision to approve the budget;
- Full invoices for accommodation and meals, if any, must be documented in writing if the service provider is a company.
- Payment documents;
- Regulations stipulated in the company's financial regulations or labor agreement;
- Requests for payment can be made by the labor union, human resources department, or employee representatives within the company.
- Payment voucher;
- Photocopies of supporting documents such as marriage certificates, death certificates, etc., related to those expenses.
9. Documentation of transaction expenses with individuals and businesses with revenue under 100 million VND.
- These expenses include costs such as rent and vehicle rental for individual businesses with revenue under 100 million VND;
- The cost of purchasing goods, products, and services that are directly sold by the producers.
The supporting documents for these expenditures include:
- Form 01/TNDN issued together with Circular 78/2014/TT-BTC: Contracts for buying, selling, and leasing houses;
- Payment document for the seller.
10. Accounting documents regarding airfare expenses.
If a business purchases airline tickets from an agent or ticket counter, the following documents are required:
- Ticket purchase receipt;
- Airline tickets;
- Payment documents (If the payment value is 20 million VND or more, bank transfer must be used).
If a business purchases tickets through an e-commerce website, the following is required:
- Electronic airline tickets;
- Boarding pass (If the boarding pass cannot be retrieved, the following are required: Electronic flight ticket, Official assignment letter);
- Non-cash payment vouchers.
Individuals sent on business trips must purchase their own tickets.
Individuals sent on business trips who purchase their own tickets and pay with a credit or debit card in their name, and then reimburse the company upon their return, will need the following documents:
- Airline tickets;
- Boarding pass;
- Documents related to the assignment of employees to work in remote locations must be certified by the company.
- Company regulations allow individual employees to be reimbursed for business trips using their personal credit cards;
- Payment documents from the business to the individual purchasing the ticket;
- A set of non-cash payment documents for individuals.
11. Complete accounting documentation for capital contributions in the form of assets.
- Minutes of capital contribution for production and business activities;
- Minutes of the asset valuation by the Capital Contribution Acceptance Council of the contributing parties;
- Record of asset handover;
Documentation regarding the origin of assets; - Change of ownership of the property (if applicable);
- Other related documents.
- Minutes certifying capital contribution;
- Record of asset handover;
- Minutes of the asset valuation by the Board of Members or Board of Directors;
- Change of ownership of the property (if applicable);
- Other related documents.
As the government intensifies its efforts to combat tax fraud and strengthen control over input invoices and documents, business leaders need to change their management mindset, paying closer attention to and more strictly controlling their financial, accounting, and tax management to minimize unnecessary risks related to this area. Furthermore, the proper application of legal regulations not only ensures compliance but also contributes to the integrity and sustainability of the Vietnamese business ecosystem.