Outsourcing accounting services is becoming the preferred choice for many businesses amidst constantly changing accounting and tax policies. By 2026 alone, businesses will have to simultaneously update their accounting and tax regulations. Circular 99/2025/TT-BTC regarding accounting procedures and exchange rate application principles, together Decree 254/2026/ND-CP Regarding electronic invoices and the timing of invoice issuance, failure to keep up with new regulations can lead to accounting errors, tax declarations, and administrative penalties for businesses. This article will help you understand what outsourced accounting services are, the current legal basis, benefits, suitable clients, criteria for selecting a reputable provider, and the service implementation process, thereby enabling you to make informed decisions to ensure legal compliance and optimize operating costs.
What is outsourced accounting services?
Outsourcing accounting services means that a business contracts with an organization or entity specializing in providing accounting services to perform all or part of its accounting work, instead of organizing its own internal accounting department.
In other words, when a business hires external accounting services, the service provider must be a legally registered organization with qualified practicing accountants.
Legal regulations businesses need to know when outsourcing accounting services.
When choosing to outsource accounting services, businesses should not only consider costs and scope of work but also assess the extent to which the service provider complies with legal regulations. This includes the conditions for conducting accounting services, the accounting system for businesses, and other relevant factors. tExport invoice exchange rates according to Circular 99Regulations regarding electronic invoices and penalties for violations are all important factors that help businesses choose reputable partners and ensure compliance with the law during their operations. Below are some prominent legal regulations that businesses need to understand before signing a contract to outsource accounting services.
Conditions for conducting accounting services business according to Decree 174/2016/ND-CP
Decree 174/2016/ND-CP, which details several provisions of the Accounting Law, clearly outlines the conditions for an organization to be permitted to conduct accounting services, including requirements regarding the type of business, the minimum number of practicing accountants, and the relevant capital contribution ratio. This is the first basis a business needs to check when verifying the legal status of a prospective partner.
Circular 99/2025/TT-BTC: Accounting regime for enterprises and principles for applying exchange rates.
Circular 99/2025/TT-BTC, effective from January 1, 2026, officially replaces Circular 200/2014/TT-BTC, with the exchange rate provisions being one of the most notable amendments. According to the guidance in Account 413 – Exchange Rate Differences, the circular stipulates two main types of exchange rates: the actual transaction exchange rate (the average buying and selling transfer rate of commercial banks, or an approximate rate with a difference margin not exceeding +/- 1%) and the book exchange rate (the actual specific or weighted average book exchange rate).
The principles of application are also categorized by type of business activity:
- When buying or selling foreign currency, the exchange rate agreed upon in the contract shall apply.
- When recognizing revenue, the actual exchange rate at the time the transaction occurs should be applied.
- At the end of the accounting period, the balances of monetary items denominated in foreign currencies must be re-evaluated.
Specifically, from January 1, 2026, businesses will be required to issue a written policy on exchange rate determination as an official part of their accounting policy, to be applied consistently across periods.
Decree 254/2026/ND-CP stipulates the time of invoice issuance.
On June 30, 2026, the Government issued Decree 254/2026/ND-CP regulating electronic invoices and electronic documents, effective from July 1, 2026, replacing Decree 123/2020/ND-CP and Decree 70/2025/ND-CP. This Decree specifies the Law on Tax Administration No. 108/2025/QH15, in which Article 9 details the timing of invoice issuance for approximately 24 different groups of cases, ranging from the sale of goods and provision of ordinary services to specialized fields such as export, construction, transportation, logistics, banking, and insurance.
Important Note: Previously, many businesses had a habit of consolidating multiple transactions to issue invoices at the end of the day, week, or month for convenience. Issuing invoices according to Decree 254 This principle has been tightened, requiring invoices to be issued at the exact time the obligation arises for each type of transaction, including transactions occurring outside of business hours.
Penalties for accounting violations according to Decree 41/2018/ND-CP
Decree 41/2018/ND-CP, which stipulates administrative penalties for violations in the field of accounting and independent auditing, has been amended and supplemented by Decree 132/2026/ND-CP, effective from May 21, 2026. Applying the wrong exchange rate according to Circular 99/2025/TT-BTC or issuing invoices at the wrong time according to Decree 254/2026/ND-CP can both be considered violations and subject to penalties under the decree. This is why choosing a professional accounting service provider that is up-to-date and compliant with regulations is more important than ever.
Why have Circular 99/2025 and Decree 254/2026 led to a sharp increase in the trend of outsourcing accounting services?
Within just the first six months of 2026, two important legal documents came into effect consecutively, creating a wave of businesses seeking to outsource their accounting services. From a professional perspective, three main pressures are driving this trend:
Double pressure: Accurately determining the exchange rate and issuing invoices at the right time for the same transaction.
For transactions denominated in foreign currency, especially export activities, the invoicing point according to Decree 254/2026/ND-CP is the basis for determining the time to apply the actual exchange rate according to Circular 99/2025/TT-BTC. Businesses have to handle both issues simultaneously on the same transaction, requiring accounting staff to have a firm grasp of both accounting regulations and electronic invoicing regulations, which is not easy for internal staff who handle multiple tasks.
Risk of inaccurate revenue and tax liability if incorrect application of regulations.
Incorrectly determining the invoice issuance date will lead to incorrect exchange rate determination, resulting in discrepancies between recorded revenue and tax payable. This is a potential risk that many businesses only discover when tax authorities cross-check electronic invoice data.
The problem of training costs for staff every time a new document is issued.
Each time new accounting and tax regulations are introduced, businesses have to spend time and money retraining their internal staff, while the training results don't always guarantee correct application from the start. This is why more and more businesses are turning to outsourced accounting services, where the responsibility for updating new regulations falls to the professional service provider instead of entirely on the shoulders of internal accountants.
Which types of businesses are suitable for outsourcing accounting services?
Before deciding to outsource accounting services, businesses need to assess their scale of operations, the volume of transactions, the complexity of the work, and legal compliance requirements. In practice, this service is particularly suitable for the following groups of businesses:
Newly established businesses and startups want to optimize costs.
During the startup phase, businesses often prioritize resources for product development, market building, and customer expansion over investing in a complete accounting system. Hiring in-house accountants not only incurs costs for salaries, insurance, and benefits, but also entails expenses for training, software, and personnel management.
Outsourcing accounting services helps newly established businesses fulfill all their tax filing, accounting, and financial reporting obligations as required by regulations, while also receiving legal advice from the outset. This solution helps startups reduce operational pressure, minimize errors in the early stages, and focus resources on core business activities.
Small and medium-sized enterprises
For businesses with a moderate volume of transactions, maintaining a dedicated accounting department is often not cost-effective. Meanwhile, accounting, tax, and electronic invoicing regulations must still be fully and promptly implemented.
Use outsourced accounting services This helps SMEs access experienced professionals at a more reasonable cost compared to hiring a large number of internal staff. At the same time, businesses are always kept up-to-date on new regulations to minimize the risk of violations during operations.
Businesses that conduct foreign exchange transactions or engage in import/export activities.
These businesses are directly impacted by regulations on accounting and electronic invoicing. Accurately determining exchange rates, reassessing end-of-period exchange rate differences, recognizing revenue in foreign currency, and issuing invoices at the right time require accountants to regularly update their knowledge of relevant legal regulations.
Outsourcing accounting services helps businesses develop appropriate accounting policies, apply correct exchange rate principles, and ensure timely invoicing for each type of transaction. This contributes to minimizing discrepancies in revenue, expenses, and tax obligations arising from transactions with foreign elements.
The business is growing rapidly or expanding.
As a business grows, the number of invoices, documents, and transactions increases rapidly. If the accounting system is not expanded in a timely manner, the risk of overload, accounting errors, or late submission of mandatory reports will increase.
Select full accounting service With expertise and experience from specialized units like MAN – Master Accountant Network, businesses can easily expand their scope of work according to actual needs without spending a lot of time recruiting and training personnel. In addition to professional accounting services, we support the standardization of accounting processes, data control, and provide advice on issues arising during growth.
Benefits of outsourcing accounting services for businesses.
Having clearly understood the pressure of complying with both of the above regulations, the next question is: what specific benefits does a business gain from outsourcing accounting services? Below are five of the most practical values that a professional accounting service provider can offer:
- Ensure the correct application of the exchange rate policy as stipulated in Circular 99/2025/TT-BTC: Professional accounting services will help businesses develop and issue the correct exchange rate policy in writing as required by Circular 99/2025/TT-BTC, and apply it consistently across accounting periods, avoiding errors when recording revenue and expenses denominated in foreign currency.
- Ensure timely invoice issuance in accordance with Decree 254/2026/ND-CP: With 24 different categories of invoice timing cases as stipulated in Article 9 of Decree 254/2026/ND-CP, having a knowledgeable and up-to-date outsourced accounting team will help businesses avoid issuing invoices at the wrong time, a common cause of administrative penalties during tax audits and inspections.
- Cost savings in operating expenses compared to maintaining an in-house accounting department: Instead of paying fixed monthly salaries to one or more accounting staff, businesses that outsource accounting services only need to pay a service fee based on an agreed-upon package, which is often significantly lower than the total cost of operating a full-fledged in-house accounting department.
- Consulted by a team of accountants and tax experts: According to regulations, accounting service providers must meet the standards for accounting certification and adhere to the professional ethics standards for accounting as prescribed by the Ministry of Finance. This ensures that businesses are served by professionals with verified expertise and who are up-to-date with the latest regulations.
Reference price list for outsourced accounting services in 2026
One of the most important questions businesses have when considering outsourcing accounting services is the actual cost. Costs are typically calculated based on service packages, the number of invoices and documents generated each month, and the complexity of the business. The table below is for reference only; businesses should contact a company directly for an accurate quote based on their specific situation.
| Business type | Monthly invoice size | Estimated monthly cost |
| Micro-enterprises | Less than 5 invoices | 500,000 – 1,200,000 VND |
| Small trading businesses | From 5 to 25 invoices | 1,200,000 – 2,800,000 VND |
| Service and consulting businesses | From 10 to 30 invoices | 1,500,000 – 3,500,000 VND |
| Manufacturing and processing businesses | From 5 to 30 invoices | 3,000,000 – 5,500,000 VND |
| Construction and installation businesses | By project | 3,500,000 – 7,000,000 VND |
| Import and export businesses | From 15 to 50 invoices | 4,000,000 – 8,000,000 VND |
Important Note: The prices quoted above are for reference only at the time of writing. Actual costs may be adjusted based on the complexity of each specific application and any unforeseen fees from the authorities.
Case study illustrating the real-world risks of applying the wrong exchange rate and invoicing timing.
Background: ABC Import-Export Co., Ltd. (illustrative name) is a company that exports handicrafts to the European market, with average export revenue of approximately 80,000 USD/month.
Errors occurred:
- Incorrect exchange rate applied: Internal accountants convert export revenue using the exchange rate at the time payment is received, instead of the actual transaction exchange rate at the time revenue is recorded, in accordance with the principles of Circular 99/2025/TT-BTC.
- Issuing invoices at the wrong time: The logistics service invoice accompanying the export shipment was issued 15 days late compared to the completion date of service provision as stipulated in Article 9 of Decree 254/2026/ND-CP, due to the company's habit of consolidating invoices to issue at the end of the month.
Consequence:
| Category | Data |
| Export revenue | 80,000 USD x 3 months = 240,000 USD |
| Exchange rate difference due to incorrect application time (assuming 300 VND/USD) | 240,000 x 300 = 72,000,000 VND in revenue was incorrectly recorded. |
| Value of logistics service invoice issued late | 500,000,000 VND, VAT 10% = 50,000,000 VND declared incorrectly for the period. |
| Late payment penalty (at a rate of 0.03%/day on the overdue tax amount, calculated for 15 days of delay) | 50,000,000 x 0.03% x 15 days = 225,000 VND late payment penalty for this tax amount alone. |
Solution: After discovering errors during the quarterly internal review, the company decided to seek advice and support from the MAN – Master Accountant team. The MAN team then:
- Review the entire current exchange rate policy and revise the policy for determining exchange rates in writing, in accordance with the mandatory requirements of Circular 99/2025/TT-BTC, and apply it consistently to subsequent periods.
- Re-establish the invoicing process in accordance with Article 9 of Decree 254/2026/ND-CP, and synchronize it with the electronic invoicing software to minimize errors caused by manual operations.
- We assist businesses in explaining and correcting incorrectly declared figures from previous periods, minimizing the risk of further issues arising when tax authorities cross-check data.
As a result, businesses not only resolve errors that have occurred but also proactively prevent the recurrence of risks in subsequent accounting periods, true to the core value that outsourcing accounting services brings.
Conclude
Even a small mistake in applying exchange rates according to Circular 99/2025/TT-BTC or determining the timing of invoice issuance according to Decree 254/2026/ND-CP can cause businesses to face revenue discrepancies, tax arrears, and wasted time in processing. This is why outsourcing accounting services is increasingly becoming a necessary choice, helping businesses optimize costs while ensuring compliance with the latest regulations.
If you wish to review your current compliance levels or find suitable accounting solutions, our team is ready to advise and support your business.
Contact MAN – Master Accountant Network For free support and advice!
Contact information MAN – Master Accountant Network
- Address: No. 19A, Street 43, Tan Thuan Ward, Ho Chi Minh City
- Mobile/Zalo: 0903 963 163 – 0903 428 622
- E-mail: man@man.net.vn
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Responsible for production and professional content review by: Mr. Le Hoang Tuyen – Founder & CEO of MAN – Master Accountant NetworkHe is a CPA Vietnam auditor with over 30 years of in-depth experience in accounting, auditing, taxation, and corporate legal consulting.
Frequently Asked Questions about Outsourcing Accounting Services
Which businesses should outsource their accounting services?
Outsourced accounting services are suitable for newly established businesses, startups, small and medium-sized enterprises (SMEs), sole proprietorships, and businesses involved in foreign exchange transactions or import/export activities. This solution helps optimize personnel costs while ensuring compliance with frequently changing accounting and tax regulations.
Can outsourcing accounting services completely replace in-house accounting?
Depending on the business's needs, some businesses choose to outsource full-service accounting to completely replace their in-house accounting department, while many others only hire a chief accountant or outsource a portion of the work such as tax filing, financial statement preparation, or tax settlement.
What preparations does a business need to make when outsourcing accounting services?
Businesses should prepare legal documents, accounting records, invoices, contracts, bank statements, and other documents related to business operations. Providing complete and timely documentation helps service providers accurately record transactions, prepare reports in accordance with regulations, and minimize errors during the process.
Are external accounting service providers liable for errors that occur?
The responsibilities of the service provider are determined by the contract signed between the two parties. Therefore, businesses need to choose a provider with clear quality control procedures, specific regulations on responsibilities, data security, and procedures for handling errors to protect their rights.
How to choose a reputable external accounting service provider?
A reputable accounting firm should meet all the requirements for providing accounting services, have a team of practicing accountants with experience handling diverse industries, clear information security procedures, and regularly update their knowledge of new regulations. Additionally, businesses should review the firm's profile, past clients, and contractual commitments to assess its professionalism.
