Any business when doing business needs to establish and maintain accounting books. This is not only a document used to record, monitor and manage economic transactions arising during the period, but it is also a valid document recognized by management agencies in the process of complying with regulations. , general economic policy of the enterprise. So, when does a newly established securities company have to open accounting books? Through today’s article, let’s learn about this issue with Pham Consult!
1. What is a securities company?
In Decision No. 27/2007/QD-BTC, there is a clear definition of what a securities company is. Accordingly, we can simply understand that a securities company is an organization operating with legal status and a business license. Securities trading license is issued by the State Securities Commission.
Securities trading activities can be some or all of the following activities: securities trading, securities brokerage, securities investment consulting, and securities underwriting.
Securities companies operate under the control of the Securities Law and a number of other legal regulations. Securities companies can operate in the form of joint stock companies or limited liability companies.
2. The time to open accounting books is specified in Clause 1, Article 18 of Circular 210/2014/TT-BTC as follows:
Open and record accounting books
1. Open an accounting book
a) Accounting books must be opened at the beginning of the annual accounting period. For newly established securities companies, accounting books must be opened from the date of establishment. The legal representative and Chief Accountant of the Securities Company are responsible for signing and approving the manual accounting books before use, or signing and approving the official accounting books after printing them from the accounting software. ;
b) Accounting books must use pre-printed or pre-lined templates and can be bound into books or placed on separate sheets. When finished using notebooks, they must be bound into books for storage;
c) Before using accounting books, the following procedures must be completed:
– For accounting books in book form:
The first page of the book must clearly state the name of the securities company, book name, book opening date, accounting year and book recording period, full name and signature of the book keeper and bookkeeper, the Chief Accountant and the legal representative. Law of the securities company, the date of closing the books or the date of transfer to another person.
Thus, according to regulations, in the case of a newly established securities company, the accounting books must be opened from the date of establishment.
The legal representative and Chief Accountant of the Securities Company are responsible for signing and approving the manual accounting books before use, or signing and approving the official accounting books after printing them from the accounting software. .
3. Are securities companies required to record accounting books using accounting software?
The accounting book recording form is prescribed in Clause 1, Article 17 of Circular 210/2014/TT-BTC as follows:
Record accounting books by hand or with accounting software.
1. Securities companies are allowed to record accounting books manually or record accounting books using accounting software.
2. In case of manual recording, the accounting form and accounting book form and regulations of the General Journal form must be followed. The unit may open additional detailed accounting books according to the unit’s management requirements.
3. In case of recording accounting books using accounting software, the securities company has the option to purchase or build its own accounting software program to suit the General Journal Form. The General Journal accounting form using accounting software applied at securities companies must meet the following requirements:
a) Have enough general accounting books and detailed accounting books necessary to meet accounting requirements according to regulations. General accounting books must have all the elements prescribed by the Accounting Book Regime;
Thus, according to regulations, securities companies can record accounting books by hand and are not required to record using accounting software.
What should I do when I discover that manual accounting books have errors during the accounting book recording process?
Pursuant to Clause 1, Article 19 of Circular 210/2014/TT-BTC, when detecting errors in accounting books recorded by hand during the accounting book recording process, it is not allowed to erase or lose traces of information and numbers. Incorrectly recorded data must be corrected by one of the following methods:
(1) Correction method: This method is used to correct errors by drawing a straight line to erase the mistake but still ensuring the incorrect content is clearly visible.
On the erased area, write the correct number or letter in regular ink above and there must be the signature of the Chief Accountant or the person in charge of accounting of the Securities Company next to the correction.
This method applies to the following cases:
– Errors in interpretation, not related to the reciprocal relationship of accounts;
– Errors do not affect the total amount.
(2) Negative number recording method (also known as red recording method): This method is used to correct errors by: Recording in red ink or writing in parentheses the incorrectly recorded accounting entry to cancel the incorrect accounting entry. recorded wrongly. Record the correct accounting entries in regular ink instead.
This method applies to the following cases:
– Errors in the reciprocal relationship between accounts due to incorrect calculations recorded in accounting books that cannot be corrected by rectification method;
– Detecting errors after submitting the Financial Report to the competent authority.
In this case, errors can be corrected in the accounting books of the year in which the errors are discovered by the non-retrospective method, or retrospectively according to the provisions of Accounting Standards “Changes in accounting policies, accounting estimates and errors”;
– Errors in which the account entry recorded the amount multiple times or the incorrect number was larger than the correct number.
When using the method of recording negative numbers to correct errors, a “Correction Book Recording Document” must be prepared and signed by the Chief Accountant (or in charge of accounting).
(3) Additional recording method: This method applies to cases where the account relationship is correctly recorded but the recorded amount is less than the amount on the voucher or the amount recorded on the voucher is omitted or not added. from.
To make corrections using this method, an “Additional book entry voucher” must be prepared to record in plain ink the remaining difference compared to the voucher.
Thus, through the article on Pham Consult, we have helped you learn more new information about when to open the accounting books of a newly established securities company. Hope the above information will help your work.