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THE STATE
BANK OF VIETNAM
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No.
479/2004/QD-NHNN
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Hanoi, April
29, 2004
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DECISION
ON
PROMULGATING THE SYSTEM OF BOOK-KEEPING ACCOUNTS OF CREDIT INSTITUTIONS
THE GOVERNOR OF THE STATE BANK
Pursuant to the Law on credit
institutions No. 02/1997/QH10, of December 12, 1997;
Pursuant to the Accounting Law
No. 03/2003/QH 11, of June 17, 2003;;
Pursuant to the Government’s
Decree No. 86/2002/ND-CP, of November 05, 2002, defining the functions, tasks,
powers and organizational structure of Ministries, Ministerial-level
agencies;
On the consent for promulgation
of the system of book-keeping accounts of the Ministry of Finance at the
Official Dispatch No. 1138 TC/CDKT, of February 05, 2004;
At the proposal of Director of
Accounting – Finance Department.
DECIDES:
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Article 2. This Decision takes effect on October 01, 2004 and replaces the
following Decisions:
- The State Bank Governor's
Decision No. 435/1998/QD-NHNN2 of December 25, 1998 promulgating the system of
book-keeping accounts of credit institutions.
- The State Bank Governor's
Decision No. 522/2000/QD-NHNN2 of December 20, 2000 adding accounts and
amending a number of provisions on foreign-currency accounting in the system of
book-keeping accounts of credit institutions.
- The State Bank Governor's
Decision No. 224/2001/QD-NHNN of March 23, 2001 canceling financial balance
sheets of credit institutions promulgated together with Decision No.
435/1998/QD-NHNN2 of December 25, 1998.
- The State Bank Governor's
Decision No. 482/2001/QD-NHNN2 of April 24, 2001 amending and adding a number
of accounts in the system of book-keeping accounts of credit institutions.
- The State Bank Governor's
Decision No. 559/2002/QD-NHNN of June 3, 2002 adding a number of accounts to
the system of book-keeping accounts of credit institutions.
- The State Bank Governor's
Decision No. 69/2003/QD-NHNN of January 22, 2003 adding a number of accounts to
the system of book-keeping accounts of credit institutions.
THE STATE
BANK
DEPUTY GOVERNOR
Vu Thi Lien
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OF
BOOK-KEEPING ACCOUNTS OF CREDIT INSTITUTIONS
(Promulgated together with the Decision No. 479/2004/QD-NHNN,
of April 29, 2004 of the Governor of the State bank)
I. GENERAL PROVISIONS
1. This system of
book-keeping accounts shall apply to credit institutions that are established
and operated under the Law on credit institutions.
2. The credit institutions shall
be entitled to open and use accounts
provided for in the System of book-keeping accounts only after they have had regime on professional operations and in accordance with
contents in the issued operation license.
3. The system of
book-keeping accounts of credit institutions includes accounts inside
accounting balance sheets and accounts outside accounting balance sheets that
are set into 9 categories:
- The accounts inside accounting
balance sheets include 8 categories (from category 1 to 8).
- The accounts outside accounting
balance sheets include 1 categpry (catelory 9).
- The accounts inside accounting
balance sheets and accounts outside accounting balance sheets (hereinafter
abbreviated as accounts inside balance sheets and accounts outside balance
sheets) are set under the system of decimal numbers with many levels, from the
level-I account to the level-III account, of symbols from 2 to 4 numbers.
- The level-I account is
symbolized by 2 numbers from 10 to 99. Each account category shall be set not
more than 10 level-I accounts.
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- The level-III account is
symbolized by 4 numbers, three first numbers (from left to right) are numbers
of level-II account, and the forth number is ordinal number of level-III
account in level-II account, symbolized from 1 to 9.
The level-I, level-II, level-III
accounts are general accounts provided by the Governor of the State bank, used
as basis for accounting entries at credit institutions.
3.1- Regarding the open and use of
level-III accounts:
3.1.1- For credit institutions
with capacity to apply informatic technologies in accounting, management and
monitoring of norms of level-III accounts, ensuring accuracy, timeliness and
fullness, on that basis, making reports of all kinds in accordance with current
regulations of the State bank, the open and use of level-III accounts specified
in this System of book-keeping accounts are not compulsory, they can use
directly the level-II accounts provided by the Governor of the State bank for
accounting entries; or open the level-III, level-IV, level-V accounts under
particular nature and management requirement of their organizations. In order
to implement this regulation, credit institutions must:
- To have specific professional
operation process and software meeting technical standards in accordance with
current regulation for:
+ Settle accounting entries of operations
arising in accordance with regulation of accounting standards and regimes;
+ Summarize, make and send kinds
of reports that are provided for by state and the State bank.
- Having the written approval of
the State bank before implementation.
The Accounting – Finance
Department of the State bank is focal agency in charge of coordination with the
Technology and Informatic Authority of the State bank, the monetary policy
department, Inspectorate of the State bank as well as relevant Authorities and
Departments of the State bank to consider, submit to the Governor of the State
bank for the approval for eligible credit institutions to open and use the
level-III accounts as prescribed in point 3.1.1 above.
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3.2- The level-IV, level-V
accounts are general accounts provided for by General Directors, Directors of
credit institutions in order to meet specific requirements on accounting
entries of operations arising of each credit institution. The supplementation
of level-III accounts (for credit institutions permitted as prescribed in point
3.1.1), level-IV, level-V accounts and so on must be suitable with nature,
content of the level-I, level-II, level-II accounts provided by the Governor of
the State bank.
3.3- Before applying, credit
institutions (except the people's Funds at grassroots level) must send the
System of book-keeping accounts of their organization to the State bank of
Vietnam (the Accounting – Finance Department) for report.
4. Currency symbols: In order to distinguish Vietnam dong, foreign currency and between
various foreign currency types, credit institutions shall use the currency
symbols: (i) by number (symbolized from 00 to 99) to record at the right side
next to the number of general account; or (ii) by letters (such as: VND, USD,
so on) . The specific currency
symbols are prescribed in the Annex together with this System of book-keeping
accounts.
5. Accounting entries of
detailed account symbols The detailed accounts
(sub-accounts) used for monitoring, detailing objects accounting of the general
accounts. The open of detailed accounts complies with regulation at the content
related to accounting entries of accounts.
Method to record symbol of
detailed accounts:
Symbol of a detailed account
inludes 2 parts:
- The first part: Number of
general account and currency symbol.
- The second part: Ordinal number
of sub-account in the general account.
If a general account has less than
10 sub-accounts, the ordinal number of sub-accounts is symbolized by a number
from 1 to 9.
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If a general account has less than
1000 sub-accounts, the ordinal number of sub-accounts is symbolized by three
numbers from 001 to 999.
Quantity of numbers of a
sub-account in a general account compulsorily write in unified way as
prescribed above (one, two, three numbers) But it is not compulsorily required
to write in unified way for quantity of the numbers of sub-accounts among
various general accounts.
The ordinal number of sub-account
is written at the right of number of general account and currency symbol.
Between the number of general account, the currency symbol and the ordinal
number of sub-account, a dot (.) shall be written for distinction.
Example: Account 4221.37.18
4221 means number of general
account - demand deposits in foreign currency of domestic customer.
37 means currency symbol (USD).
18 means the ordinal number of
sub-account of unit, individuals deposit.
The ordinal number of sub-account
of unit opening account that has stopped operation and finalized settlement,
however it must be after at least one year to be permitted to use for opening
account of other unit.
6. Method of accounting
entries on accounts:
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- Assets belong to the Credit
assets always have Debit balance.
- Assets belong to the Debt assets
always have Credit balance.
- Assets belong to the
Debit-Credit assets may have Credit balance, Debit balance or both of balances.
When make the monthly and annual
account balance sheet, credit institutions must reflect fully and accurately on
the nature of account balances above (for accounts belong to Credit asset and accounts
belong to Debit asset) and not be permitted to make clearing between Debit and
Credit balances (for accounts belong to Debit-Credit asset).
6.2- Accounting entries on accounts outside accounting balance sheets is
performed under the method of single entry bookkeeping (Entry-Exit-Remaining).
7. The terms of “domestic”
and “overseas” prescribed in this system of book-keeping accounts are construed
as terms of "residents" and “non-residents” specified in the
Government’s Decree No. 63/1998/ND-CP, of August 17, 1998, on foreign exchange
management and apply uniformly as follows:
- "Domestic credit
institutions” mean credit institutions of
residents including:
+ Vietnamese credit institutions
operating in country;
+ Joint-venture credit
institutions, non-bank credit institutions with 100% foreign capital, foreign
banks’ branches operating and doing business in Vietnam’s territory with time
of 12 months or more;
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+ Foreign credit institutions that
operate outside of Vietnam’s territory;
+ Vietnamese credit institutions
that operate outside of Vietnam’s territory with time of 12 months or more.
8. The
accounting entries on foreign accounts prescribed in this system of
book-keeping accounts must be performed in the following principle:
8.1- To implement reciprocal
accounting and balancing among foreign currency accounts and each type of
account.
8.2- For operations of foreign
currency purchase or sale, accounting currently reciprocal entries in foreign
currency and reciprocal entries in Vietnamdong.
8.3- For revenues, interest
payments in foreign currency that are performed through operations of foreign
currency purchase and sale in order to convert into Vietnam dong according to
the exchange rates at the arising time in order to account in income and
expense.
8.4. The value of foreign currency
converted into Vietnam dong for accounting operations of foreign currency
purchase and sale on accounts with foreign currency origin shall be calculated
according to the actual trading exchange rates at time arising operation. For
other foreign currency operations, uniformly accounting entries according to
the exchange rates announced by the State bank of Vietnam at time arising
operations.
8.5- On the detailed accounting
books of foreign currency acounts, writing both foreign currency and Vietnam
dong.
8.6- The general accounting of
foreign accounts just reflects in Vietnam dong.
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8.8- For credit institutions
having many foreign currency operations, to simplify daily accounting, they may
organize detailed and general accounting for foreign currency accounts
according to original currency, but at the end of month, they must convert the balance,
revenues of operations in the month related to foreign currency accounts into
Vietnam dong (according to the exchange rates between Vietnam dong and USD that
are announced by SBV at the end of month) for fully summarizing and reflecting
operations on the monthly accounting balance sheet in Vietnam dong.
8.9- For foreign currencies that
have no exchange rates with Vietnam dong, they must be converted through a
foreign currency that has exchange rate with Vietnam dong.
8.10- For credit institutions with
many operations in gold and able to apply informatic technology, they may
account in details for monitoring gold in kinds (according to unit of “chi”
gold 99.99%) and value. When generally accouting, they must convert value of
artifacts into Vietnam dong (to re-assess value of gold) according to the
actual buying gold price at time of making report. And for operations of gold
purchase or sale, they may use with two accounts 4711 and 4712 for accounting
similar to accounting of foreign currency purchase or sale (gold is considered
as a foreign currency).