Accounting consulting services
Accounting is an essential part of every business — from small startups to large corporations. Accountants are responsible for recording, reporting, and analyzing financial data to support management decision-making and ensure financial reporting meets legal requirements.
According to the 2015 Accounting Law , all businesses operating in Vietnam must organize accounting work, prepare books and submit financial reports according to regulations. However, in reality, many businesses face difficulties: high costs of maintaining an internal accounting department, inexperienced staff, or failure to ensure compliance with the latest regulations on tax and accounting.
Therefore, many businesses choose to use external accounting services – a solution to help save operating costs, improve data quality and ensure legal compliance. Especially with the full accounting package , businesses are fully supported from bookkeeping, tax declaration to financial reporting and consulting when there is an inspection from the tax authority.
If you don’t know where to start, this article will give you an overview: the benefits of accounting services, popular services, the cooperation process and suggestions on how to choose the right package for your business size. If you need quick advice, you can go down to the service section or contact us for specific advice for your company’s needs.
Legal basis of accounting services
Accounting services are a conditional business and are subject to strict state management. In general, when a business chooses accounting services , the provider must comply with the following main legal documents:
Accounting Law 2015 – general regulations on organization of accounting work, bookkeeping and financial reporting.
Decree 174/2016/ND-CP – providing detailed guidance on a number of articles of the Law on Accounting related to practice conditions and service provision responsibilities.
Circular 200/2014/TT-BTC and Circular 133/2016/TT-BTC – providing guidance on accounting regimes applicable to large enterprises and small and medium enterprises (SMEs).
Law on Tax Administration 2019 and its implementing documents – regulations on tax declaration, payment and tax settlement that all businesses must comply with.
According to the above regulations , only qualified organizations (for example: appropriate business registration certificate, license to provide accounting services when needed, staff with accounting/auditing practice certificates) are allowed to provide accounting services to businesses. Therefore, when businesses want to use accounting services , they need to check the basic legal documents of the provider.
Simple checks: ask for copies of licenses/certificates, a list of key personnel with certificates, and references from previous clients. If necessary, ask the supplier to clearly state the scope of work covered under the contract (e.g., bookkeeping, tax filing, representation with tax authorities).
Practical example:
many SMEs choose to use accounting services from reputable units to ensure compliance with the law and reduce the risk of tax audits. When choosing, prioritize units with experience in handling tax operations for industries similar to your business activities.
Note:
To ensure legal safety and report validity, always clearly state the terms of legal responsibility, information confidentiality and service scope in the contract before signing.
Benefits of using accounting services
Outsourcing accounting services is a smart choice for many businesses today because it brings both financial and operational benefits. Below are specific benefits, with real-life examples to help you visualize:
Cost savings
Compared to hiring an internal accounting department, businesses do not have to pay salaries, bonuses, insurance, training costs or initial software investment. For example, a startup can reduce operating costs by 20–40% when switching to full-package accounting depending on the volume of documents.
High expertise
Service providers often have a team of accountants and auditors with experience and up-to-date knowledge of new standards and regulations. As a result, accounting data is more accurate, errors are reduced, and processing time is shortened.
Compliance assurance
The service helps businesses limit tax risks and legal issues related to reporting. When there is an audit from the tax authority, having clear, audited records will help businesses feel more secure.
Timely information
Businesses receive financial reports and periodic management reports (monthly/quarterly) to track cash flow, profits and make timely business decisions.
Data security
Reputable units commit to the process of securing the business's accounting information, clearly defining access rights and data storage to avoid leakage of sensitive information.
Here is a brief comparison table between in-house accounting and full-service accounting for your consideration:
Comparison criteria | Full-time accountant | Service accounting |
Fixed costs | High (salary, social insurance, training) | Lower, pay per package |
Professional quality | Depends on staff | Professional, experienced team |
Flexibility | Few (difficult to increase/decrease quickly) | Easily scalable |
Ability to assist in tax audits | Internal dependencies | In-depth support and experience working with tax authorities |
In short, the service not only helps businesses save costs but also improves data reliability, supports management and reduces administrative burden. If you want to know which package is suitable for your company, see the details of the services provided or contact us for specific advice.
Accounting services we provide
This page summarizes the main accounting services that the unit provides. Each service can be deployed individually or combined in a package to form a complete accounting solution suitable for the size and needs of the business. (See details of each service through the corresponding internal links.)
Chief accountant services
For businesses that have not appointed an internal chief accountant or need certified personnel to sign financial reports. This service takes on the role of signing and confirming reports, supervising all accounting work and being responsible for data according to the contract. Benefits: businesses reduce the burden of recruitment, receive professional support when needing to settle taxes or be inspected by tax authorities.
Accounting bookkeeping services
Fully perform the work of recording documents, accounting for arising transactions and creating detailed/summary books according to the current accounting regime. The results you receive: monthly updated books, income and expenditure reports and trial balance sheets to help monitor financial situations in a timely manner. This service is suitable for businesses that want to ensure accurate data without having to invest in software or human resources.
Accounting book review service
Review, compare and check data to detect errors, missing entries or incorrect expense classification. Before submitting reports or when preparing for tax audits, the review service helps businesses feel secure, reduce risks and optimize tax payments.
Financial reporting services
Prepare quarterly and annual financial reports according to VAS standards, including business performance reports, balance sheets, cash flow statements and report notes. This service is suitable for businesses that need to report clearly to the Board of Directors, partners or State agencies.
Payroll and social insurance services
Manage monthly payroll, declare personal income tax, register and declare social insurance, health insurance, unemployment insurance; handle issues related to timekeeping, allowances and labor agreements. The service helps businesses save on administrative staff and ensure that insurance and tax obligations for employees are fulfilled on time.
We offer flexible service packages : basic (applicable to newly established businesses), standard (suitable for SMEs) and full package (comprehensive support for businesses with large transaction volume). Each package can be adjusted according to the scale , industry and requirements of the customer.
Service package name | Content of work performed |
Chief Accountant Services | Sign reports, supervise accounting, advise on accounting and tax policies |
Bookkeeping | Record documents, accounting, detailed/summary books |
Auditing the books | Compare data, review and correct errors before tax audit |
Prepare financial statements | Prepare quarterly/annual reports according to VAS, report explanations |
Salary & Social Insurance | Timekeeping, payroll, personal income tax declaration, social insurance reporting |
If you are considering using accounting services
Accounting service provision process
A professional, transparent process will help businesses clearly understand the cooperation method, implementation time and responsibilities of each party. Below is a standard 6-step process when you use accounting services , with a checklist and reference time for each step.
Step 1: Receive requests
(time: 1-2 days) – Including preliminary consultation by phone or in person, determining the scale, industry, volume of documents and desired scope of work. Checklist: describe business activities, document templates, reporting requirements, desired reporting frequency.
Step 2: Sign the service contract
(time: 1-3 days) - Draft a detailed service contract, clearly stating the rights, responsibilities, progress, costs and confidentiality terms. Note: clearly state the scope of work, conditions for additional costs and commit to the time of report delivery.
Step 3: Collect documents and records
(time: according to monthly/quarterly agreement) - The enterprise provides original documents (invoices, receipts/payments, contracts, payroll) or authorizes the service provider to support the collection. Sample checklist: VAT invoice, cash book, bank statement, sales contract, timesheet.
Step 4: Perform accounting work
(time: continuously according to accounting period) - Record, account, use appropriate accounting software, compare data and prepare preliminary reports. For the full package , the supplier will undertake all periodic accounting work for the business.
Step 5: Reporting and consulting
(time: according to agreed frequency) – Send financial/management reports (monthly/quarterly/yearly), explain data, make recommendations to improve costs, accounting processes or optimize taxes. This is the value-added solution part that helps the management make timely decisions.
Step 6: Support tax inspection
(when it arises) - Support in preparing documents, explaining data, providing valid copies and consulting when the business works with the tax authority. Note: the scope of support (only consulting, providing documents or representing) must be clearly stated in the contract to avoid misunderstanding of legal responsibilities.
Below is a summary timeline for businesses to easily visualize:
STT | Steps to perform the work | Estimated time |
1 | Receive requests and surveys | 1–2 days |
2 | Sign a service contract | 1–3 days |
3 | Collect documents and prepare files | Monthly/quarterly (by agreement) |
4 | Bookkeeping, accounting, reporting | Continuous (periodically) |
5 | Reporting & Consulting | Monthly/quarterly/yearly |
6 | Tax inspection support | Upon request |
Some practical tips for implementation: ensure the supplier has a dedicated person to contact (avoid constantly changing people), use compatible accounting software to synchronize data, and clearly agree on responsibilities if data issues arise. If the business wants to switch from internal accounting to a full-service package, it is necessary to plan for a handover time of 2–4 weeks depending on the scale.
Businesses that should use accounting services
SMEs and startups
Small-scale businesses with limited staff often prefer outsourcing to reduce operating costs and avoid having to worry about hiring a chief accountant. For example, a technology startup with <10 employees can choose a basic package to handle bookkeeping and tax declarations, helping the business save on personnel costs and focus on product development.
FDI enterprises
Need partners who understand both Vietnamese regulations and international accounting standards. Professional services help ensure compliance with local laws and optimize reporting for foreign parent companies.
Businesses are restructuring
When optimizing human resources and cutting costs, outsourcing is a flexible solution to maintain the quality of accounting work without having to bear fixed costs for employees.
Newly established businesses
Need to be properly guided on the accounting and tax system from the beginning. Use the service to help set up accurate books, choose appropriate software and receive detailed advice on tax obligations for each business stage.
You should choose the following service package (suggestion):
- Scale < 10 employees: basic package (bookkeeping, basic tax declaration).
- Size 10–50 employees: standard package (add management reports, payroll).
- Scale >50 employees or complex transactions: full package (chief accountant, audit, tax inspection support).
If you wish, we can provide similar customer case studies by industry to help you choose the right package and get specific advice for your situation.
Phu My Hung's service commitment
Absolute compliance with the law
All accounting work is performed according to current standards and regulations. We constantly update guidance documents (Accounting Law, Tax Administration Law, Guidance Circulars) to ensure that the company's reports and records are always valid before the management agency.
High professional quality
Our team of accountants and auditors have practicing certificates and many years of practical experience. Key personnel have been in charge of books for businesses in many industries, so they have the ability to handle complex operations and provide optimal solutions.
Reasonable cost
Providing many flexible service packages , from basic packages to full accounting packages , helping businesses optimize costs while still ensuring quality. We have transparent price lists and have plans to adjust according to the actual scale and volume of work.
Long-term companionship
Our goal is not only to complete accounting work but also to become a strategic partner, supporting businesses in financial management, tax optimization and sustainable development. Customers are regularly consulted and promptly supported when problems arise.
If you are interested in tax accounting or would like to receive a detailed quote based on your size and industry, please contact us for a free consultation and receive a suitable solution proposal.
Conclusion
Accounting services are a comprehensive solution that helps businesses comply with the law , optimize operating costs and focus on core business activities. With the right service package, you will receive accurate data, timely reports and tax optimization advice to reduce risks when working with tax authorities.
If you are considering moving from in-house accounting to full-service accounting or looking for a flexible solution that is scalable, we are here to help: request an in-depth consultation, get a package price list (basic/standard/full-service) and propose a quick delivery roadmap.
Contact us now for free consultation and quote within 24 hours:
phumyhungconsulting@gmail.com
Or fill out the contact form on the page for a specialist to contact you within 24 hours.
Our commitment:
quick response, transparency about service packages and long-term customer support. Don't let accounting problems hinder your growth — act today to get the best solution for your business.
FAQ – Frequently Asked Questions
According to the Accounting Law , all businesses must organize accounting work and prepare books and financial reports. However, small enterprises (SMEs) do not necessarily have to hire a full internal accounting team but can use outsourced accounting services to ensure compliance with regulations and reduce operating costs.
Internal accountant: is an employee working in a company, responsible for recording and reflecting daily business activities; however, some reports and legal procedures may require the signature or practice certificate of the legal person in charge.
Outsourced accounting services: professional units prepare books, reports and (when agreed) provide certified personnel to sign confirmation, helping reports to be more acceptable when working with tax authorities.
Fees depend on the size of the business, the number of documents, the scope of work (e.g., just bookkeeping, or including payroll, financial reporting, tax settlement support). There are usually basic/standard/full packages ; businesses should request a detailed quote based on the specific workload.
When a medium-sized enterprise or larger, or is required by regulations to appoint a chief accountant but does not have suitable internal personnel, it can hire a chief accountant service to sign financial reports, supervise accounting work and take professional responsibility according to the contract.
Many service packages include financial reporting and year-end tax settlement support, but this must be clearly stated in the contract. Some basic packages may not include representation when settling or handling complex corporate income tax issues .
The delivery time is usually 2–4 weeks depending on the size and current status of the books. The delivery process is described in detail in the service delivery process section.
Service providers need to commit to information security in the contract, use accounting software with access authorization, periodically back up data and have a secure storage process to avoid leakage of customers’ financial information.
Yes. Many providers offer a complete package for startups or newly formed businesses, including initial bookkeeping, tax filing, basic payroll, and tax advice as they grow.
Contact the supplier immediately for advice and review. The service contract should clearly state the responsibility for correcting errors, the processing time and costs, if any.
If you have any other questions related to accounting services or would like to receive advice based on your business situation, please contact us for specific support and appropriate quotes.