21 Accounting Tasks To Do At The End Of The Year

By the end of 2022, a time of financial reporting is coming. Every accountant must be mentally prepared to overcome invisible pressures from many sources. To grasp the work to be done and avoid late work that could result in administrative points loss or an administrative fine, please note the following things to do:

        1. Reconciliation of debts and receivables

        2. Setting up provision for bad receivables according to regulations

        3. Physical count of assets and resolution of differences

        4. Determination of damaged and devalued inventories

        5. Attention to a large cash balance

        6. Bank balance confirmation and reconciliation

        7. Recognition of accrued expenses

        8. Accounting for accrued interest income if there is a savings deposit

        9. Computation of depreciation

        10. Register a personal tax code for those who have not registered and a dependent profile (if any) for personal income tax finalization.

        11. Assessment of exchange rate differences for monetary items such as cash, receivables, and payables denominated in foreign currency

       12. Submission of a tax return for December 2022 or the fourth quarter of 2022, as well as a temporary CIT payment with a deadline of the 30th of the first month of the next quarter

        13. At the beginning of 2023, pay the license fee by the deadline of January 30, 2023.

        14. Carrying out the closing entries to conclude an accounting period

        15. Determining the non-deductible expenses to be included in Item B4 when finalizing CIT

        16. Determination of tax - free income and other deductions for taxable income

        17. CIT finalization on deadline 31/3 yearly

        18. Finalization of PIT (due 90 days from the end of the fiscal year)

        19. Preparation of the Financial Statements for 2022

        20. Pay taxes after deducting temporarily paid taxes, the tax payment deadline is also the filing deadline

        21. Submission of other reports and statistics to relevant agencies.

Viet Australia
Viet Australia Auditing Company is an independent auditing organization licensed and established in 2007 in the Socialist Republic of Vietnam.