Are businesses required to prepare cash fund accounting books?

Are businesses required to set up cash fund accounting books?

Are businesses required to set up cash fund accounting books, based on point d, clause 1, Article 12 of the Circular 200/2014/TT-BTC regulates:

Account 111 – Cash

1. Accounting principles

a) This account is used to reflect the situation of revenue, expenditure, and balance in enterprise funds including: Vietnamese currency, foreign currency, and monetary gold. Only reflect in Account 111 “Cash” the actual amount of cash, foreign currency, and monetary gold imported, exported, and in reserve. For the proceeds transferred immediately to the Bank (not through the enterprise’s cash fund), do not record it on the Debit side of Account 111 “Cash” but on the Debit side of Account 113 “Cash in Transfer”.

b) Cash amounts deposited or deposited by other businesses and individuals at the enterprise are managed and accounted for as cash assets of the enterprise Business.

c) When importing and disbursing cash funds, there must be receipts and payment slips and full signatures of the recipient, deliverer, and person with authority to allow the import and export of funds according to the provisions of the accounting document regime. In some special cases, there must be an attached fund import and export order.

d) The cash fund accountant must be responsible for opening the cash fund accounting book, recording daily continuously in the order of arising revenues, expenditures, exports, imports of the cash fund, foreign currencies and calculating the balance of the cash fund at all times.

dd) The treasurer is responsible for managing and importing and exporting the cash fund. Every day, the treasurer must inventory the actual cash balance, compare the cash book data and the cash accounting book. If there is a difference, the accountant and treasurer must check again to determine the cause and recommend measures to handle the difference.

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According to the above regulations, the enterprise’s accountant is responsible for opening a cash fund accounting book and recording it daily continuously.

How is the latest corporate cash fund accounting book model regulated today?

The enterprise cash fund accounting book is used for the treasurer (or for cash accounting) to reflect the situation of cash fund receipts and expenditures in Vietnamese currency of the unit.

The current enterprise cash fund accounting book form is guided at Form No. S07-DN Appendix No. 04 issued under Circular 200/2014/TT-BTC.

The basis and method of recording the enterprise cash fund accounting books are carried out as follows:

This book is open for the treasurer: Each fund uses a book or a number of book pages. This book is also used for detailed accounting of cash funds and the revised book name is “Detailed accounting book of cash funds”. Corresponding to 1 book of the treasurer, there is 1 book of the accountant recorded in parallel.

– The basis for recording the cash book is the Receipts and Payments that have been entered and disbursed.

– Column A: Record the book entry date.

– Column B: Record the date of Receipt and Payment Vouchers.

– Columns C, D: Record the Receipt Voucher number and Expenditure Voucher number continuously from small to large.

– Column E: Record the economic operations of the Receipt and Expenditure Vouchers.

– Column 1: Fund input amount.

– Column 2: Amount disbursed.

– Column 3: Fund balance at the end of the day. The balance at the end of the day must match the amount of cash in the safe.

Periodically, the accountant checks and compares the “Detailed cash fund accounting book” with the “Cash fund book”, signing confirmation in column G.

* Note: To monitor the cash fund, the cash fund accountant must open a “Detailed cash fund accounting book” (Form No. S07a-DN). This book has an additional column F “Reciprocal account” to reflect the corresponding account number for each debit transaction and each credit transaction of Account 111 “Cash”.

When is the corporate cash fund accounting book closed?

The corporate cash fund accounting book is locked according to Clause 3, Article 124 Circular 200/2014/TT-BTC as follows:

Opening, recording accounting books and signatures

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3. Closing books: At the end of the accounting period, accounting books must be closed before preparing financial statements. In addition, accounting books must be closed in inventory cases or other cases as prescribed by law.

4. For bookkeepers belonging to accounting service units, they must sign and clearly state the practicing certificate number, name and address of the accounting service provider. The person who records the accounting books is the practicing individual, clearly stating the Practicing Certificate Number.

Accordingly, at the end of the accounting period, the enterprise cash fund accounting books must be closed before preparing the financial statements.

In addition, the cash fund accounting books must be closed in inventory cases or other cases as prescribed by law.