What is the best and most suitable solution for tax accounting management?
Before changes in the law and enhancement in management Given the current tax authorities' requirements, most businesses want to find the safest and most suitable accounting solutions to minimize audit risks and ensure compliance with current laws.
So, can an in-house accountant handle these two crucial tasks? Or, what is the optimal solution to address this problem?
Expertis will conduct a more in-depth analysis of the accounting tasks that businesses need to perform, as well as the importance of each type of work, in order to help businesses find the best "solution".
The appropriate direction for the Tax Accounting Management of enterprises.
As you know, accounting encompasses two areas of work: Internal accounting , and Tax accounting:
- Internal Accountant: These are tasks primarily related to business management, involving daily operations, detailed tasks, close contact with the company, and requiring internal knowledge within the organization.
- Tax accounting: This includes accounting, tax, and payroll compliance responsibilities for reporting to government agencies.
While internal accounting can be changed whenever you want, KTax accounting is a matter of compliance with the law.Tax accounting is your responsibility; although your employee performs the task, you are ultimately accountable. Therefore, it would be risky to delegate tax accounting to your in-house accountant. This is because tax accounting requires a thorough understanding of the law, consistency, and ensuring compliance with legal requirements to protect your business when government agencies conduct audits.
On the other hand, in terms of cost, hiring someone who can handle both internal accounting and tax accounting, and is also fluent in English, is very expensive and they will likely quit quickly, as those with all these skills always have many better options available to them daily from various recruitment channels.
Even Expertis, a company specializing in accounting services, has faced risks related to this issue when our accounting staff left, affecting everyone. The legal issues fall on the manager's responsibility. In our case, we had to dig up all the details to explain to the government, and our new accounting staff couldn't grasp it, so now Expertis is also using its own services for tax accounting work.
Therefore, the solution that most companies are currently using effectively is:
Recruiting one in-house accountant + Utilizing professional services to handle tax accounting.
Many people, upon hearing this, think that the cost will be much higher and ineffective; however, the cost is... more economical and more efficient Many reasons, as analyzed above, are that accounting staff capable of handling both internal and tax accounting command very high salaries and tend to quit quickly. On the other hand, the cost of using accounting services when you have an in-house accountant working alongside you is lower than when you don't have an in-house accountant supporting you.
Based on the above analysis, Expertis hopes that you will choose the best solution for your work, a solution that should include: 3 values for you:
| Good work management | Cost effective | Safety for personal liability |
Hay Contact us to stay up-to-date with the latest regulations and Quality Accounting Services!
Email: contact@expertis.vn
Hotline: Phone: 0903 024 034
