Accounting services
Accounting services are outsourcing solutions for businesses, helping you perform all accounting tasks: accounting, checking documents, preparing books, financial reports and declaring and paying taxes according to regulations. Instead of having to maintain an internal accounting department with fixed costs, many businesses have chosen to use a full accounting service package to optimize costs and ensure accurate financial data to serve the business decisions of leaders.
With a professional accounting service , businesses receive a commitment to legal compliance, clear reporting and standard procedures according to current accounting regimes. This is a suitable solution for many subjects: newly established businesses, startups that want to focus on product development, SMEs that need to optimize operating costs, or FDI units that need a unit that understands the regulations of Vietnamese law.
Real-life example: a small retail company switched to a full-service accounting service after 1 year of operation — accounting staff costs were reduced by 30% compared to maintaining internal staff, and tax reports and financial statements were filed on time, allowing the business to focus on expanding its sales channels. This is a clear demonstration of the benefits when you consider using the service.
If you are wondering whether to hire an accounting service or not, contact us for a free consultation — we will assess your needs, suggest a suitable package (small / medium / large package) and quote transparently based on the number of documents/month. Taking advantage of professional accounting services will help you feel secure about taxes, save costs and have reliable data for long-term management.
Legal basis
The provision of accounting services in Vietnam is strictly regulated by a number of key legal documents. Understanding these regulations will help your business feel secure when cooperating with service providers and ensure compliance with the law in all accounting, tax and reporting activities.
Important legal documents include:
Law on Accounting (2015) — defines the general legal framework for accounting organization, books and financial reports for enterprises.
Decree 174/2016/ND-CP and its amendments — regulate the conditions and scope of activities for services related to accounting, auditing and tax consulting.
Circular 200/2014/TT-BTC and Circular 133/2016/TT-BTC — guidance on accounting regimes applicable to different types of enterprises (note: it is necessary to check the application of each circular according to the size and type of enterprise).
Law on Tax Administration (2019) and guiding documents – regulate the obligation to declare and calculate taxes (VAT, CIT, PIT) and related procedures when working with tax authorities.
In addition, there are a number of other decrees and circulars that detail the records, documents, as well as the responsibilities of the service provider and the service-using enterprise. Therefore, when choosing an accounting service provider , your enterprise should request to see documents proving its capacity: business registration certificate, license or practice certificate (if any), and a list of key personnel with accounting/auditing certificates.
Summary of implications for businesses:
Ensure books, reports and tax declarations comply with legal regulations;
Reduce the risk of penalties due to document errors or late submission;
Clearly define the responsibilities between the business and the service provider in the contract.
Note for verification: before signing the contract, you should ask the service provider to provide legal references (certified copies of documents, decisions, personnel certificates). If necessary, a reputable service provider will guide the business to update the latest regulations related to tax and accounting to minimize risks when operating a business.
Specific accounting work we perform
Accounting
Recording all economic transactions arising according to original documents and current accounting regime. The accounting process includes: receiving documents, classifying, recording in detail & summary, controlling accounting errors. The result you get: accurate books, honest reports, easy to compare when needed.
Check documents
Evaluate the validity and legality of invoices, contracts, and delivery notes. We review input/output VAT, verify deduction eligibility, and note missing/invalid documents so that businesses can make timely adjustments. (Who is responsible: the professional inspection service provider; your business is responsible for providing original documents).
Bookkeeping
Establish and maintain detailed/general books according to regulations (journal, ledger, detailed books of debts, fixed assets, etc.). We ensure consistency between documents, books and final reports, in accordance with audit requirements when available.
Financial reporting
Prepare financial reports periodically (quarterly, annually), in compliance with applicable accounting standards (VAS/Circulars corresponding to the size of the enterprise). The report includes a balance sheet, a statement of operating results, a statement of cash flows and notes to the financial statements. The quality of the report is guaranteed through internal control processes and by experienced accounting experts.
Tax declaration and submissio
Declare and submit mandatory taxes: VAT, Corporate Income Tax, Personal Income Tax, and related tax reports as required by tax authorities. We monitor the latest tax policies to optimize legal taxes for businesses and minimize the risk of being overpaid or fined.
Labor management - salary - social insurance
Calculate salary, create timesheets, complete social insurance, health insurance, unemployment insurance records according to regulations; standardize related labor contracts and support social insurance declaration for employees. This helps your business avoid legal errors, ensure human rights and comply with labor regulations.
Financial management consulting
Providing analytical data (profit margin by product/service, cash flow analysis, financial KPI reports) to support leadership in decision making. We propose cost optimization solutions, improve working capital efficiency and tax planning for each fiscal year according to business needs.
Checklist of basic documents you need to prepare (suggested):
- VAT invoice
- sales/service contract
- warehouse receipt
- delivery note
- bank statement
- payroll
- labor contract
- fixed asset depreciation documents.
Preparing enough documents will help the service unit to account accurately, reduce processing time and service costs.
Accounting service provision process
Consulting & needs assessment
Initially we discuss with you to understand the size of your business, industry, volume of documents and reporting needs. Based on this information, we propose a suitable accounting service plan (small package / medium package / large package) and estimate the initial cost. The initial consultation service is usually free and helps you understand the benefits of using professional accounting services.
Signing the service contract
After agreeing on the scope, we draft a detailed contract: services provided, duration, price, SLA (response time), responsibilities of both parties, confidentiality terms and handling of arising issues. A clear contract helps reduce legal risks for both parties.
Prepare & receive documents
Enterprises hand over documents periodically (weekly/bi-weekly/monthly depending on the agreement). We provide a checklist of necessary documents (VAT invoices, contracts, warehouse receipts, bank statements, payroll, etc.). Suggested delivery channels: scan/upload via the system, send email with code, or deliver directly to ensure information security.
Accounting
We conduct accounting, bookkeeping, reconciliation and tax declaration according to schedule. Sample timeline: Week 1: collect documents & check; Week 2: accounting & bookkeeping; End of month/quarter: review & submit tax reports; End of quarter/year: prepare financial reports. During this process, we adhere to SLA: respond to requests within 24–48 business hours and update you when there are additional issues.
Regular reporting & management consulting
Every month/quarter we send results reports, explaining key fluctuations and suggesting improvements (optimizing legal taxes, improving cash flow, cutting ineffective costs). This is the part that brings strategic value to leaders in managing your business.
Support during inspection & explanation with tax authorities
If your business is inspected by tax authorities, we will accompany you: prepare documents, explain data, participate in working directly with tax inspectors within the scope of the contract. Clearly describing responsibilities in the contract will help you feel secure when you need legal support related to taxes.
Additional note:
During the process of using accounting services, quick coordination between the service provider and the business is a key factor to ensure the quality of reports and limit costs. If you need, we will prepare a contract template, SLA and checklist of documents suitable for your business.
Benefits of using Phu My Hung's accounting services
Cost savings
With a full accounting service, your business does not have to pay salaries, insurance, or training for the internal accounting department. Instead, you only pay according to the number of documents and needs, helping to optimize monthly operating costs. Many SME customers report cost savings of up to 20–40% compared to maintaining internal staff when using professional services.
Ensuring expertise — quality of work
Our team of experts includes chief accountants, tax accountants and certified personnel with many years of experience in processing documents for multi-industry businesses. This gives you accuracy in accounting and reporting, minimizing errors compared to cases with little internal experience.
Compliance with the law & risk reduction
Using professional accounting services helps your business stay up to date with legal regulations (tax, accounting), thereby minimizing the risk of administrative penalties or tax arrears. We always monitor legal changes to advise and make timely adjustments for customers.
Accurate data — decision support
We provide periodic reports, detailed analysis reports (profit margin, cash flow, departmental costs) to help leaders grasp the financial situation promptly and make optimal decisions for your business.
Why choose us?
Phu My Hung offers professional accounting solutions, a team of experts with knowledge of tax and accounting, flexible service packages according to your needs and a commitment to quality. If you need, we provide reference data about customers who have used the service and real feedback so you can rest assured in your choice.
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Suitable subjects
New Business
If you are just starting a business, it is important to get your books in order from the start. Using an accounting service will help you set up a legally compliant accounting system and avoid common mistakes due to lack of initial experience.
Small and Medium Enterprises (SMEs)
With limited resources, many SMEs choose to outsource to save on operating costs compared to maintaining their own accounting department. Flexible service packages based on the number of documents help you pay only for what you really need.
FDI Enterprises
Foreign companies operating in Vietnam often need a unit that understands Vietnamese laws, language and tax procedures to avoid mistakes. Professional accounting services help you adapt quickly to the local legal environment.
Businesses that want to focus on business
If your goal is to grow your market, increase your revenue, and you don’t want to spend time on day-to-day accounting tasks, outsourcing is the right choice. We’ll handle the technical side of things so you can focus on strategy and operations.
Service package suggestions by size:
small businesses (under 50 documents/month) are suitable for small packages; medium businesses (50-150 documents/month) are suitable for medium packages; large businesses or businesses with many special issues should choose large packages or customized packages according to their needs. If you need, we will advise on suitable packages based on the size, industry and specific issues of your business.
Risks & penalties if businesses do not comply with accounting
Failure to comply with accounting, bookkeeping and tax reporting regulations can lead to administrative penalties, tax arrears and even criminal risks in cases of intentional wrongdoing. Below are some typical penalties according to the current Decree (refer to Decree 41/2018/ND-CP and amended by Decree 102/2021/ND-CP) — before signing a contract or choosing an accounting service provider, you should check these terms in detail or consult a legal expert.
Behavior | Penalty level (reference) | Reference text |
Do not open accounting books | 20 – 30 million VND | Decree 41/2018 (amended) |
Late submission of financial reports | 10 – 20 million VND | Decree 41/2018 |
No financial reporting | 40 – 50 million VND | Decree 41/2018 |
Providing false data (submitted) | 40 – 60 million VND; serious cases may be subject to criminal prosecution | Decree 102/2021 (amended) |
Using services/accountants who are not qualified to practice | 20 – 30 million VND | Relevant Decree |
Important note:
The above fines are for reference only and may be adjusted depending on the time, scale of violation and updated legal documents. Before making a decision, businesses should directly refer to legal documents or request the accounting service provider to provide legal/tax advice to avoid mistakes.
Practical prevention:
use a full accounting service , periodically review books, store complete original documents and request the accounting unit to provide internal control reports. When there are new regulations on tax or accounting, the service provider should proactively notify and adjust promptly for your business - this is a practical solution to minimize financial damage and legal risks.
If you wish, we can provide a summary of the relevant regulations along with a reference to the official text for you to review before signing the accounting service contract.
Accounting service price list (for reference)
The cost of a flexible full-package accounting service is usually determined based on the number of documents generated, the complexity of the business and the specific reporting needs of the business. Below is a reference table to help you visualize the service package suitable for the size and needs of the business:
Package | Number of documents/month | Reference price | Additional services |
Small package | Under 50 | Contact for specific price | Basic accounting, monthly tax declaration, simple reporting |
Medium package | 50 – 150 | Contact for specific price | Detailed accounting, debt management, tax declaration, quarterly reporting |
Large package | Over 150 | Contact for specific price | Complex accounting, standard financial reporting, salary & social insurance management, management consulting |
Custom Packages | On demand | Quotation based on survey | Extended services: internal audit, inspection support, in-depth tax consulting |
Factors affecting costs include: number of documents, industry (retail, manufacturing, services), specific reporting requirements, frequency of document delivery and level of support during tax audits. Therefore, a site survey is necessary to provide reasonable and transparent prices for customers.
Short comparison:
Outsourcing accounting services often saves businesses fixed costs (salaries, insurance, training) and reduces reporting risks compared to maintaining an in-house accounting department — but the specific costs need to be calculated realistically.
The specific price will be quoted after surveying the needs
we are committed to transparency, reasonableness and will send a detailed list of work items for you to compare before deciding to use the full accounting service. Contact us to receive a quote and advice on the right package for your business.
Service commitment
Absolute compliance with the law
We are committed to performing all accounting, tax declaration and reporting tasks in accordance with current laws. When there are changes in regulations, the unit will proactively update and notify so that your business can make timely adjustments.
Expert & Quality Team
Our team includes chief accountants, tax specialists and certified accountants with many years of experience serving businesses of all sizes. We ensure quality work through internal control processes, cross-review and clear reporting to clients.
Information Security & Data Safety
Your financial data is protected by internal policies: secure storage, restricted access, file encryption during transmission, and NDAs when required. We will be happy to detail our privacy policy during contract negotiations.
Long-term partnership & clear responsibility
We commit to accompany businesses in the long term, supporting when there are inspections or problems arise. The service contract will clearly stipulate responsibilities, SLA and incident handling procedures; if the fault lies with the service provider due to professional errors, we will be responsible for fixing it according to the agreement in the contract.
Conclusion
Phu My Hung ‘s full accounting service is a practical solution for businesses that want to save costs, ensure legal compliance and optimize financial management. When using professional accounting services, you receive accurate books, timely reports and support when you need to explain to the tax authorities – helping businesses focus on business development.
Want to know which package is suitable for your business?
• Detailed quotation by package (small / medium / large / custom)
• Quickly assess current book condition and estimate cost savings
• Consulting on legal compliance and tax risk mitigation
Or leave your information on the contact form — we will proactively call you back within 24 working hours to schedule a free consultation.
The role of internal accounting in client businesses
To use accounting services effectively, businesses still need at least one internal person to act as a bridge — either an internal accountant or an administrative staff in charge of finance. This person helps coordinate, transfer documents and ensure communication between the two parties, thereby reducing errors and speeding up work progress.
Providing documents, invoices, contracts
Internal staff is responsible for preparing and handing over documents according to the checklist (VAT invoices, warehouse receipts, contracts, delivery notes, bank statements, etc.). Complete preparation helps the service provider to do accounting accurately and quickly.
Coordinate cash flow, expense, and account management
The bridge person updates revenue/expenditure information, manages cash funds, and contacts the bank when statements are needed, helping the service unit reconcile balances and accurately reflect them in the books.
Special Event Notification
Events such as borrowing, investing, signing large contracts, and liquidating assets must be immediately reported to the service unit for proper recording and processing of taxes and depreciation.
Keep in touch with leadership
Internal staff communicates review requests, document approvals, and financial information to leadership to ensure major transactions are approved in a timely manner.
Storing original records at the enterprise
Although electronic records are sent to the service unit, the enterprise must store the original (hard copy) according to regulations to be ready when the tax authority inspects. Internal personnel are responsible for preserving and providing when necessary.
Short checklist for bridge personnel (suggested):
- VAT invoices (input/output) — monthly;
- Contract, delivery note and warehouse receipt;
- Bank statement, deposit receipt;
- Payroll, labor contract, social insurance records;
- Depreciation documents, fixed asset purchase invoices.
Following this checklist will help reduce processing time and accounting service costs.
Suggested communication and delivery channels:
use a secure upload system (portal), an encrypted official email, or scheduled direct delivery. Also, agree on a handover form and delivery deadline to ensure smooth coordination between the two parties in the event of a tax audit or urgent reporting needs.
FAQ – Frequently Asked Questions
Accounting services usually perform all accounting, bookkeeping and tax declaration work according to the contract; while the chief accountant service takes on the role of professional management, signs and approves reports and takes on higher professional responsibility (suitable when the business requires the signer to take responsibility according to regulations). If you need both a team to perform and a person to take professional responsibility, you can choose a combined package of accounting services + chief accountant.
Responsible for organizing accounting according to the Accounting Law 2015. If you do not have internal staff, using a full accounting service is a legal and convenient solution for businesses to start operating while still complying with the law on reporting and tax declaration.
Fees are usually calculated by package based on the number of documents/month (small package, medium package, large package) or by service request (custom package). Factors affecting the price: number of documents, complexity of the business, specific reporting requirements and frequency of document delivery. We always conduct a site survey before quoting to ensure transparency and reasonableness.
Yes. Most full-package accounting service contracts include support for explaining and providing documents when the business is subject to tax inspection. The scope of support (direct participation in work, preparing documents, and representing the explanation) will be clearly defined in the contract to avoid disputes over costs and responsibilities.
Absolutely. The conversion process includes: receiving the current records, reviewing and standardizing the data (sharing the issues that need to be corrected), proposing solutions and then implementing the accounting according to the new process. Usually we will report the discovered issues and the costs (if any) before making the changes.
Responsibility for handling will be stipulated in the contract: if the error is due to the professional error of the service provider, that party will be responsible for supporting the adjustment and bear reasonable costs according to the agreement; if the error is due to missing documents or information provided by the enterprise, the two parties will coordinate to correct and determine the costs incurred (if any).
Normally, businesses should hand over documents weekly or monthly depending on the volume. The ideal handover schedule: no later than the first day of the first week of the following month so that the service unit has enough time to check, account and declare taxes on time. Handing over on time helps reduce additional costs and avoid late submission of reports.
This fee depends on the current state of the books. If a large number of figures need to be reviewed or adjusted, there will be an initial cost for cleaning the books (usually calculated by the hour or by the amount of work). We always report this cost in detail before performing so that you can decide.
Some common problems: missing/invalid documents, late delivery, no bridge personnel, or contracts that do not clearly define responsibilities. How to avoid: standardize document checklists, agree on delivery schedules, have internal bridge personnel, and sign clear contracts with SLA and terms for handling arising issues.
If you need more detailed information about using accounting services, tax issues or would like to receive a package quote, please contact us for a free consultation. We support our customers with detailed instructions and transparent quotes.
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