Tasks to do when preparing annual settlement

To help new accountants organize the work they need to do when preparing the annual settlement, this article summarizes the collected information, instructing in detailed steps as well as how to arrange and prepare necessary books.

Part 1: Arrange original documents
We need to arrange the original monthly documents in the order of the printed input and output tax declaration and submit monthly reports to the tax authority: Starting from January to December of the fiscal year, the documents Original: input and output invoices are clamped together with the monthly VAT declaration submitted to the replacement agency
Each document or group of documents must be attached
Sales invoices must be attached to the Receipt if sold or collected, and also attached to the delivery note, according to the contract and liquidation if any.
Purchase invoices (inputs) must be sandwiched with payment slips and warehouse receipts, and payment requests attached to contracts and liquidation, if any.
If selling on credit, the accounting slip (or accounting slip) and delivery note must be attached to the contract and liquidation, if any. ,…
Separate documents for each month, one volume for each month with a complete cover.
Arrange reports submitted to tax authorities
Attached to each year's documents is that year's report. Some regular reports are: Monthly VAT declaration, Report on invoice usage, Import-Export, Business Cards, Special Consumption, quarterly provisional corporate income tax report
Financial reports, corporate income tax and personal income tax finalization, and tax refunds for each year

Part 2: Prepare annual printed books (in the form of General Diary)
Public diary
Sales diary
Purchase diary
Disbursement diary
Collection journal number
Detailed accounts receivable books for all customers
Detailed accounts payable books for all suppliers
Minutes confirming each subject's debt (if any) at the end of the year.
Cash book and bank details book.
Ledger accounts: 131, 331, 111, 112, 152, 153, 154, 155, 211, 214, ... 621, 622, 627, 641, 642, ... Depending on the business, decide whether to use 48 or 15.
General ledger of increase or decrease in fixed assets
Summary book on the increase or decrease in tools and equipment
Fixed asset depreciation book
Depreciation book for tools and instruments
Warehouse card/material detail book
Summary table of import and export inventory for each warehouse
All entered documents must be printed and signed (full signature).
Note: The ballots must be numbered and arranged sequentially.

Part 3: Arranging economic contracts
Fully arrange each input/output contract sequentially:
Check the minutes and documents of each contract if any: contract, acceptance record, contract liquidation
Labor contract and salary scale system: labor contract and salary schedule must have full signatures
Decisions on appointment, transfer, salary increase.
Legal records
Prepare fully both original and notarized (authenticated) photocopies.
Incoming/outgoing official dispatches related to tax authorities

Part 4: Check general accounting books and detailed books
– Check and compare the detailed books with the general account books (ledger)
– Check and compare arising economic transactions against the accounting books: input and output invoices and accounting books
– Check and compare customer debt
– Check accounts payable
– Check input data and tax declaration between input and output invoices and tax declaration sheet
– Input and output are balanced
– Check if the signature is complete
– Check that the accounts receivable and payable accounts are correct
– Check the payroll to see if the signature is complete, the data on ledger 334 and the payroll match: For employees, there must be complete records.
Specifically, the work will be performed:
Check the conformity of accounting documents;
Check the settlement and accounting of arising economic operations;
Check the preparation and declaration of monthly VAT reports;
Checking and preparing corporate income tax finalization reports;
Check personal income tax finalization documents;
Check the preparation of financial reports according to regulations;
Adjust errors and inconsistencies with legal regulations;
Re-establish accounting books and tax reports in accordance with tax laws;
Make adjustments to tax reports when there are discrepancies;
Work and explain to tax authorities.

Part 5: Skills in checking accounting books
General Journal: review the accounting provisions to see if the Debit - Credit counterpart has been determined correctly, check if the amount transferred at the end of each month is correct, total arising in the General Journal = Total arising At Table

Balance account
Account balance sheet: Total Debit Balance at the beginning of the period = Total Credit Balance at the beginning of the period = Closing balance of the previous period carried forward, Total Debt Arising during the period = Total Credit Arising during the period = Total Arising in the General Journal During the period, Total Debit Balance at the end of the period = Total Credit balance at the end of the period; Principle of Total Arising on the Debit Side = Total Arising on the Credit Side
Total arising in General Journal = Total arising (Debit) in the period on the arising Balance sheet
Type 1 and 2 Accounts do not have a Credit balance (except for 131,214,129,159..) only have a Debit balance, nor do they have a negative ending balance.
Type 3.4 accounts do not have a Debit balance (except 331,421...) only have a Credit balance, no negative balance at the end of the period.
Accounts from type 5 to type 9: ledger and resulting balance must = 0, if > 0 it is incorrect because it has not been fully transferred.

TOTAL ASSETS = TOTAL CAPITAL RESOURCES on the Balance Sheet
– Account 1111 cash:
Debt balance at the beginning of the period of ledger account 1111 = Debt balance at the beginning of the period of Account 1111 on the resulting balance sheet = Debt balance at the beginning of the period in the Cash Fund Book;
Number of arising debts in ledger account 1111 = number of arising debts and credits in account 1111 on the balance sheet = number of arising debts and credits in cash book,
Closing debit balance of ledger account 1111 = Closing balance of account 1111 on the arising balance sheet = Closing debit balance of Fund Book

Cash
Account 112 bank deposit:
Debt balance at the beginning of the period ledger Account 112 = Debt balance at the beginning of the period Account 112 on the balance sheet = Debt balance at the beginning of the period Bank deposit book = Opening balance of the bank sub-number or statement;
Amount of debt incurred in ledger Account 112 = Amount of debt incurred in Account 112 on the balance sheet = Amount of debt incurred in Credit Bank Deposit Book or statement = Amount withdrawn - paid in on the budget ledger goods or statements,
Closing debit balance of ledger Account 112 = Closing balance of Account 112 on the resulting balance sheet = Closing Debit Balance of Bank Deposit Book or statement = Closing balance of Bank Sub-Book or statement
Account 334:
Debt balance at the beginning of the ledger period Account 334 = Debt balance at the beginning of the period Account 334 on the balance sheet arises,
Total Generated Income in the period = Total income generated in the Payroll in the period (Monthly salary + Allowances + overtime),
Total debt incurred during the period = Total paid + deductions (insurance) + advance;
Total Credit Balance at the end of the period = Total Credit Balance at the end of the period in the resulting balance sheet

Account 142,242,214: Does the monthly allocation amount on the tool allocation table match the allocation amount on account number 142,242,214?

Output - input tax:

Account 1331: amount incurred in appendix PL 01-2_GTGT: LIST OF INVOICES, DOCUMENTS OF PURCHASED GOODS AND SERVICES,
Debt balance at the beginning of the ledger period account 1331 = Debt balance at the beginning of the period Account 1331 on the balance sheet = VAT remaining deductible from the previous period transferred to [22];
Debt arising number with ledger account 1331 = Debt arising number Account 1331 on the arising balance sheet = Arising number on the declaration appendix PL 01-2_GTGT: LIST OF INVOICES, DOCUMENTATION OF PURCHASED GOODS AND SERVICES ENTER
Account 33311: amount incurred in appendix PL 01-1_GTGT: LIST OF INVOICES, DOCUMENTATION OF PURCHASED GOODS AND SERVICES,
Debt balance at the beginning of the ledger period account 1331 = Debt balance at the beginning of the period Account 1331 on the balance sheet = VAT remaining deductible from the previous period transferred to [22];
Debt arising number with ledger account 1331 = Debt arising number Account 1331 on the arising balance sheet = Arising number on the declaration appendix PL 01-2_GTGT: LIST OF INVOICES, DOCUMENTATION OF PURCHASED GOODS AND SERVICES ENTER
If in the month there is output > input => tax payment, then the ending balance Credit account 33311 = target [40] of that month's tax declaration
If it is still deductible, it means output < input => tax will still be deducted in the period after target [22] = opening balance Debit account 1331, ending balance Debit 1331 = target [43]
Original account Inventory
Opening balance Debit Ledger, CDPS Account 152,155,156 = Beginning balance 152,155,156 in the import and export statement
Debt Amount Ledger, CDPS Account 152,155,156 = Entered during the period 152,155,156 in the import-export statement
Incurred Number Yes Ledger, CDPS Account 152,155,156 = Exported during the period 152,155,156 in the import and export inventory list
Closing balance Debit Ledger, CDPS Account 152,155,156 = Closing balance 152,155,156 in the import-export inventory