Receivables on service based company

Thảo luận trong 'Accounting in English' bắt đầu bởi Iv4n, 18/4/18.

  1. Iv4n

    Iv4n New Member Hội viên mới

    Hi guys,


    im learning about vietnamese accounting standards(VAS), i have few questions,
    1. is there any receivables account/transaction for service based company according to VAS ?
    2. on sales based company, when we sell something, we have "trade receivable" on debit, and "Sales" on credit, so we can track how many trade receivable we have ... and how about service based company ?
    3. can i use account "[5113] - Revenue from services rendered" on service completion ? at service completion we not yet received the payment...

    please reply in english, i still not yet mastered my tieng viet...

    Cam on nhieu.
     

  2. ThuyEva

    ThuyEva New Member Hội viên mới

    Hi,
    Can I summarize the response as below:
    1. -->yes. Accorrding to the Article 18. Account 131 – Trade receivables of Circular No.200/2014/TT-BTC under VAS. This is familiar with Trade receivables under IAS 39 vs IFRS 9
    2. -->Two
    The first, When selling goods or providing services without collecting immediate cash (including receivables from sales of exported goods of trustors), the following accounts shall be recorded:
    a) Regarding goods, services, investment property subject to VAT, Special excise duty, import tax or environment protection tax, the revenues from goods and services without taxes shall be recorded as follows (above indirect taxes must be separated when recording, including VAT payable using subtraction method):
    Dr 131 – Trade receivables (total payment)
    Cr 511 - Revenues (tax-exclusive prices)
    Cr 333 – Taxes and other payables to the State.
    The second, When receiving payment of customers (including interests of debts – if any) or receiving advance of customers according to agreements on sale of goods or provision of services, the following accounts shall be recorded:
    Dr 111, 112, etc.
    Cr 131 – Trade receivables.
    Cr 515 - Financial income (profits).
    When receiving advance in foreign currencies, the Cr 131 shall apply actual exchange rates at the receiving time (buying rates of the bank)
    3---> Yes.
     
  3. quocnguyenvn

    quocnguyenvn New Member Hội viên mới

  4. vuduchien10051996

    vuduchien10051996 New Member Hội viên mới

    bó tay luôn haha
     

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