Tax accounting

A take a take a take a view of the basic mistakes a Tax Accountant is prone to making

Most people know that tax accounting is a position that requires absolute accuracy accompanied by care, meticulousness and detail because it involves figures, invoices as well as accounting documents. With just a deviation as well as a loss of concentration, it will be very easy for tax accountants to fall into basic mistakes, especially for new employees. Therefore, let's "name" the most basic mistakes to help tax accounting work smoothly right under this article!

1. Purchase and sales invoices

Many of you always take the purchase and sales invoices lightly and very often fall into the situation:

  • Do not thoroughly and carefully check the information written (printed) on the invoice
  • Do not notice and forget the director's mark or signature of the buyer on the invoice
  • Loss or non-inspection as well as complete information related to the accounting because of the lack of accompanying statements.
  • Skip writing individual guest statements, tax returns.
  • Invoices that are judged by accountants to be valid invoices, then accounted for in revenue will be those that have not been crossed out in all three links and the cancellation invoices have not been torn off the stalk
  • Do not own the accompanying invoice cancellation record in case the cancellation invoice has been torn from the stalk.
  • There is not enough of those involved: director (sign 1 of 3 related), buyer …
  • Customer information is wrongly written on the invoice
  • No reports of use of invoices periodically

2. Tax declaration

Basic mistakes that are easy to make when taking on a tax declaration position:

Monthly VAT declarationPIT declaration
Wrong information when declaring tax: Tax code, business name, address, invoice are corrected … Revenue and output tax are recorded in a line Monthly VAT declaration without border stampIng Deadlines, tax rates are skewed when declaring tax and do not account The unmedified VAT tax of the previous period minus the same tax in this period The data content and units calculated are different , not hemedableDeducted income tax from employees but did not pay the budget and did not declare appropriation. The state of PIT figures is misleading due to forgetting to subtract related payment surchargesThe labor contracts, wage registration tables … List of tax finalization dossiers which are taxable or do not meet the prescribed time of tax declarationSand through the deduction of social insurance, health insurance and unemployment insurance payments resulting in incorrect PIT calculation.

3. Tax accounting

One thing that cannot be ignored is the problem after receiving the sanctioning decision from the Tax authorities, if the enterprise does not immediately account in the current accounting books, it will cause the balance of payment accounts to be different from the figures of the Tax authorities. This causes misunderstandings and unintended consequences as well as takes a long time for businesses to solve

Some accountants are also "careless" causing the summary declaration of the tax amount to coincide with the value-added tax amount that affects businesses equally.

In addition, if the enterprise does not make an accounting, it reduces the outstanding balance, does not account for re-collection and payable after making a vat refund request. In this case, the account will continue to be deducted for the next period.

4. Tax accounting books

The last part that we want to talk about today is the basic mistakes in the tax accounting books. That is: forgetting the detailed report of the customer's remables or simply the failure to complete ( if not forgetting ) the liability reconciliation to the suppliers – this part of the debt needs to be signed as well as the seal of both parties to be valid. Or there are no papers, clear contents for expenses or depreciation tables of fixed assets, material allocation tables. Occasionally, if this happens, it may result in a metric dismatch compared to a detailed accounting

Above are a few common mistakes and it is easy to make if you do not notice and are not careful and thorough. Therefore, tax accountants – you, need to understand these basic mistakes to minimize the disadvantages, risks, even unnecessary damages in the process of work.