What is an accounting slip? Instructions on how to fill out the form correctly
In financial and accounting management activities of businesses, accounting slips are commonly used in addition to other related documents. So what is an accounting slip ? When are accounting slips used? In this article, let's find out the details with 1C Vietnam right away.
1. What is an accounting slip?
Accounting slips are important documents in the work process of accountants. This type of voucher has the role of fully and detailed accounting and management of the business's revenues and expenditures. Accounting slips are also expressed in forms such as receipts and payment slips.
2. When to use accounting slips?
Accounting slips can be used in many cases as follows:
- Closing entries at the end of the accounting period.
- Accounting entry for value added tax deduction at the end of the month.
- Allocation entry.
- Adjusting entries.
- Illustration of some accounting operations without documents.
3. Is accounting slip required?
Accounting slips are often used for internal accounting purposes, for transactions without documents. Accounting slips are required to be able to be transferred to other accountants as a basis for accounting in the books.
4. Distinguish between accounting slips and accounting documents
Many people who are not sure about the concept of an accounting slip are often confused between an accounting slip and an accounting document. So let's help 1C Vietnam differentiate these two types of documents in the table below:
ACCOUNTING BILL | FINANCIAL PAPER | |
Define | These are documents created by accountants to serve as a basis for bookkeeping when there are no documents. | These are documents that record issues that have arisen or have been completed as a basis for bookkeeping. |
Purpose | Created by accountants as a basis for accounting for accounting operations that do not have documents and are only circulated internally as well as solving internal problems. That's why accounting slips do not have specific names or forms. | Accounting documents are not only used for internal accounting but also in a number of important documents to serve the inspection work of authorities when required. This is also one of the pieces of evidence to prove documents and assets before the law. Because of that importance, accounting documents are often available forms. |
5. Instructions for filling out accounting slips accurately
Besides understanding what an accounting slip is, managers need to know how to fill out an accounting slip accurately. Accounting slips are often used to record period-end accounting entries or month-end VAT deductions. Below are detailed instructions on how to fill out the form for beginners:
- Document number: Enter the correct serial number and the correct management requirements of the business.
- Document creation date: Date of filling out the accounting slip.
- Accounting date: The date used for calculation and is greater than the closing date.
- Exchange rate: Usually the exchange rate will be equal to 1 or not updated.
- Explanation: Usually contains operational content in accounting slips.
- Account: Is the code selected in the account list.
- Incurred Credit and Incurred Debt: Is the transaction currency, changing when the transaction value is different. If a non-zero debt arises, then a credit of 0 arises and vice versa.
- In words: The accountant records in words the total Credits and Debits.
To accurately perform accounting operations in cases where documents are not available, managers need to note a few things as follows:
- Use specific, detailed accounts.
- If the account is an exception, the customer code column must be entered.
- The closing date according to the document must be before the document date.
- To generate Credit, to generate Debit, you must enter numbers, maximum 14 numbers and 2 odd numbers.
- Document number cannot be left blank.
- Documented data cannot be converted to data after it has been locked.
- Do not check the parameter details, only check for duplicate numbers in the documents.
6. Current standard accounting slip form in businesses
After understanding what an accounting slip is, businesses can refer to some accounting slip samples below:
Accounting slip forms according to any Circular need to fully meet the following contents:
- Accounting date.
- Document number.
- Accounting content.
- Debit/Credit Account.
- Worth the money.
- Amount in words.
Each unit will adjust its accounting sheets to suit the needs and management structure of the business.
Above, 1C Vietnam has specifically explained what an accounting slip is , and also given cases where businesses need to use this type of document and how to fill in the information accurately. Don't forget to follow other articles on 1C Vietnam's website to update useful information about business management.