On July 5, 2022, the Minister of Finance issued Circular 41/2022/TT-BTC guiding the accounting regime applied to social and charity activities. Accordingly, all organizations, agencies, units, and individuals that have activities related to mobilizing, receiving, distributing, and using donations to carry out social and charity activities must open accounting books to record, make accounting records of arising economic operations, make reports and transparent information under the provisions of this Circular and relevant laws.
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In particular, the instructions for opening accounting books for social and charity activities are as follows:
(1) Principles of opening accounting books
The accounting books must be opened at the beginning of the annual accounting period or right after the decision on the establishment and operation of the unit is issued.
The accounting books may open the new financial year to transfer the balance from the old year's accounting books and immediately record new economic and financial operations arising from January 1 of the new fiscal year. The unit is allowed to open more detailed accounting books at the request of the management of the unit.
(2) In case of manual opening of accounting books
The unit must complete the legal procedures of accounting books as follows:
- For book-bound accounting books:
Outside the cover (upper left corner) must write the name of the unit, in the middle of the cover write the name of the book, date, month, and year of making the book; day, month, and year of closing the book; full name and signature of book-maker, chief accountant or person in charge of accounting and head of unit signing and stamping; the date, month, year of the end of book entry or the date of handing over the book to another person.
+ The pages of the accounting books must be numbered from page one (01) to the end of the last page number, between the two pages of the book must be stamped with the border of the unit.
+ The accounting book after completing the above procedures is considered legal.
- For loose sheets:
+ At the beginning of each separate book, it must clearly state the unit’s name, the ordinal number of each sheet, the book’s name, the month of use, and the full name of the person keeping the books and recording the accounting books.
+ Loose-sheet books must be signed for certification by the head of the unit, stamped, and recorded in the registration book using loose-leaf cards.
+ The separate books must be arranged in the order of accounting accounts and must be safe and easy to find.
(3) In the case of making accounting books on electronic means
Must ensure the elements of the accounting books are under the provisions of the law on accounting. If you choose to store the accounting books on electronic means, you still have to print the general accounting book on paper, bind it into a volume and complete all procedures as prescribed by law in case the accounting book is closed book.
For the remaining accounting books, if not printed on paper, but stored on electronic means, the head of the unit must be responsible for ensuring the safety and confidentiality of information and data and must ensure searchable within the storage period.
Circular 41/2022/TT-BTC replacing Circular 103/2018/TT-BTC takes effect from September 1, 2022.
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