Currently, the need to outsource highly specialized services such as tax accounting services and internal accounting services is increasing. This is because outsourcing internal accounting services has many advantages over hiring an in-house accountant. Internal accounting is an effective tool that provides information for management to make decisions to run all activities with the highest efficiency. The size of the business, as well as the number of employees and qualifications, varies between companies. Therefore, various internal accounting tasks are required.

1. Internal accounting services at Viet My

Good management of operating costs, income, profit and loss is the most important criteria of a company that helps the company understand the financial and business situation of its company. With internal accounting services, comprehensive tax reporting services like Viet My help businesses reduce costs and have accountants with 10 years of practical experience.

Internal accounting is no longer just measuring, calculating, tax reporting, and tax accounting but is also widely used in many companies. Today’s internal accountants need to understand other functional areas such as marketing, finance, management accounting, etc.

Internal auditors must perform accounting tasks of daily operations:

• Consulting on the appropriate use of input and output invoices;
• Receive invoices, accountants check on site;
• Viet My prepares a general VAT report for the entire company divided by tax rate;
• Viet My prepares a report summarizing all VAT on the company’s purchases according to the allocation ratio on deductible output;
• Viet My monitors the company’s budget payment situation, budget backlog, and tax refund reports;
• Viet My compares the establishment’s tax declaration information between the report and the final report;
• Viet My implements the VAT business plan and submits to the budget;
• Establish accounting controls: Import, export, revenue, expenditure;
• Accounting estimates detailed product costs, inventory, receivables and payables;
• Prepare forms for channelization and discharge… according to regulations;
• Salary, job-related forms;
• Create ledger accounts.

2. Cost of internal accounting services in Viet My

Depending on the level of work, size of domestic or foreign company, large or small company size, business activities and business field, Viet My will quote certain costs.

3. Content of internal accounting services at Viet My

Our internal accounting service work is as follows:

• Sales accounting
• Maintain daily payment information. Check the product’s unit price and product quantity.
• Send invoices to customers.
• Review and monitor profit plans and sales allocation.
• Update prices and new products for businesses. Prepare a list of sales invoices, income, and VAT.
• Calculate total revenue, unit price, VAT of each product group.
• Check the situation of money management and debt management.
• Monitor and report to the accounting department, mainly the Chief Accountant.
• Negotiate with the seller on quantity and inventory of goods to be sold. Manage invoices, documents, and contracts with customers.

Purchase accounting

• Receive purchase information. Check the product’s unit price and product quantity.
• Update new price
• Monitor and report to the Accounting Department, specifically the Chief Accountant.
• Know all the costs of purchasing, real-life scenarios that you can use to determine business results.
• Agree with the storekeeper on quantity and inventory of purchased goods. Manage invoices, documents, and contracts with suppliers.

Warehouse accounting

• Check the correctness of invoices and documents before carrying out import-export procedures. Check invoices.
• Compare and enter product information into the system.
• Accounting for import and export of goods and raw materials.
• Prepare inventory reports, import and export reports.
• Participate in periodic inventory.

General accounting

• Synthesize department information to report to the board of directors
• Know the actual buying/selling prices of items to adjust product costs and business profits and losses.
• Provide information about sales to serve the company’s business direction and management.

Tax accounting

• Support VAT invoice reporting.
• Report according to tax law.
• Fulfill the company’s tax obligations.

4. Process of implementing internal accounting services of Viet My

Internal accounting or management accounting plays an important role in business operations and is responsible for all actual transactions, including collecting invoices, documents and records based on the financial situation. actual profit and loss of the enterprise.

4.1 Who should use internal accounting services?

• The newly established company does not have an auditor yet;
• The company already has an accountant, but the accountant does not have much experience in tax accounting and needs the support of a tax agent;
• Enterprises must review tax documents and tax reports due to accounting changes occurring in many activities;
• The company must check tax refund procedures according to regulations;
• Companies are required to conduct audits and even return tax returns and financial statements from previous years because they doubt the accuracy, expertise and competence of the company’s accountants.
• Businesses already have good accountants but still want to hire a tax agent to maximize the efficiency of their tax accounting activities.
• The company was newly established, newly established, and didn’t have a lot of money
• Small and medium-sized enterprises have not finished accounting
• Having been in business for many years but the accounting system is not stable, I need advice and have problems
• Foreign businesses do not understand Vietnamese law

4.2 Information customers need to provide when using Viet My’s internal accounting services

• Submit import-export invoices, import-export declarations (original or copy)
• Bank statement, bank statement
• Employee ID card
• Contract, receipt log, delivery log (if necessary)
• Digital signature device for online tax reporting.

4.3 Process of implementing internal accounting services at Viet My

• Consulting and establishing the internal accounting management system most suitable for the size and type of company
• Based on internal documents, we advise on input and output invoices related to data balancing and tax accounting service packages.
• Receive internal revenue and expenditure documents through accounting software and notify business management when required.
• Completely secure your company’s financial information.

Customers who have legal, accounting, labor, salary, social insurance, health insurance, labor accident insurance, unemployment insurance problems, please contact Viet My for quick support.

5. Why should you choose Viet My’s internal accounting services?

Accounting services are activities that help businesses with accounting such as tax reporting, financial reporting and tax completion. These types of services are licensed by government agencies and provided by professional service companies. Currently, many companies need to use this service because:

Cost savings:

• No costs for recruiting and training accounting staff.
• No need for accounting management. Do not spend on social security, health insurance, bonuses, etc.
• No need to pay upfront costs such as accounting software, auditor’s furniture, printers, computers, stationery, electricity, water, travel expenses…

Books are guaranteed, safe, and legal:

• Update the latest circulars, regulations and tax laws.
• Accounting information is processed promptly and accurately to ensure the highest benefits for the Company.
• Accounting books are always neat, smooth, and easy to follow. Because we all work with professional accounting software and unified accounting methods from the beginning.
• Their accountants are much more professional and experienced, but the service cost is lower than hiring a qualified accountant.

Completion time is quick and timely:

Accounting is always guaranteed as soon as possible. Service partners provide accurate and timely reports immediately monthly, quarterly, annually or as required.

6. Benefits when using Viet My’s internal accounting services

• Timely warning of potential risks
• Instructions on writing, using and managing invoices, receipts and payments according to regulations.
• Instructions for identifying valid and invalid invoices and invoices.
• Consulting on labor registration, salary, social insurance, health insurance
• Consulting on revenue or corporate income tax, personal income tax.
• Consulting on depreciation of fixed assets.
• Accounting consulting, cost analysis without invoices and documents.
• Regularly answer questions about taxes and many questions about accounting and law in businesses.
• Obligation to ensure confidentiality of relevant information, data and documents provided by customers.
• Save and return original documents (if any) to customers.
• Take responsibility when tax authorities inspect the company and be responsible for the correctness and completeness of reports, accounting books…
• Balance output and input bills to achieve the most reasonable and lowest tax rate
• Obligation to use the company’s latest copyrighted accounting and tax reporting support software
• In addition, we have staff to guide you directly to the store

Commitment to responsibility:

• Provide timely information: income, expenses, inventory, assets, expenses, income….
• Costs are balanced
• File your tax return on the specified date
• Personnel is responsible for long-term stability
• Clarifying some difficult questions
• Take responsibility if you do not follow the rules

The above is the accounting work of the internal accounting service, however, depending on the urgent needs of the business and the contractual agreement of the parties, VIET MY LAW AND ACCOUNTING offers suitable tasks for businesses. to minimize costs and maximize business efficiency.