Accounting services for small and medium-sized enterprises (SMEs) are becoming an essential choice as the 2026 tax legal framework is constantly changing, from preferential tax rates based on revenue, regulations exempting newly established businesses from corporate income tax, to non-cash payment thresholds. A small mistake in applying preferential policies can cause businesses to lose hundreds of millions of dong in legal benefits, while an inexperienced internal accounting team may struggle to keep up with all the changes. This article provides a comprehensive analysis of the scope of work, costs, risks of doing accounting in-house, and criteria for choosing a suitable accounting service provider for SMEs.
Why should small and medium-sized enterprises (SMEs) use professional accounting services?
Small and medium-sized enterprises (SMEs) account for the majority of businesses operating in Vietnam, yet they face the heaviest compliance pressure relative to their resource size. Accounting services for SMEs were created to address this paradox: businesses need comprehensive accounting, tax, and reporting services like large enterprises, but their budgets and personnel do not allow for maintaining a large, dedicated accounting department.
Three compliance pressures that make small and medium-sized enterprises (SMEs) need accounting services.
Firstly, the frequency of tax policy changes is increasing. In the period of 2025-2026 alone, a series of new regulations were issued and came into effect almost simultaneously: Law on Corporate Income Tax No. 67/2025/QH15, NDecree 320/2025/ND-CP Regulations detailing the implementation of this law, Resolution 198/2025/QH15 on special mechanisms and policies for the development of the private economy and Decree 20/2026/ND-CP Instructions for implementing the resolution. An in-house accountant with multiple responsibilities would find it difficult to have enough time to update and cross-check each document.
Secondly, the cost of errors is increasing. From July 1, 2026, administrative penalties for violations related to invoices and documents have been tightened according to the amended Decree 125/2020/ND-CP, while the mandatory threshold for cashless payments to be eligible for input VAT deductions according to Decree 320/2025/ND-CP has been lowered to 5 million VND per invoice.
Thirdly, businesses often fail to recognize what incentives they are entitled to. This is the key reason why accounting services for small and medium-sized enterprises (SMEs) are not simply about "keeping records," but rather a tool to protect the legitimate tax rights of businesses.
The 2026 legal framework makes doing your own accounting riskier.
According to Article 11 of Decree 320/2025/ND-CP, the general corporate income tax rate is 20%, but businesses with total annual revenue not exceeding 3 billion VND are subject to a rate of 15%, while businesses with total annual revenue exceeding 3 billion VND but not exceeding 50 billion VND are subject to a rate of 17%. This is the typical revenue group for most small and medium-sized enterprises, but correctly determining total revenue as a basis, including sales revenue, service provision revenue, financial activity revenue, and other income, requires accountants to have a firm grasp of the regulations to avoid mistakenly applying the 20% rate when eligible for the 15% or 17% rates.
At the same time, according to Article 10 of Resolution 198/2025/QH15 and the guidance in Decree 20/2026/ND-CP, small and medium-sized enterprises are exempt from corporate income tax for 3 years from the date of initial issuance of the Business Registration Certificate. This is a significant incentive but comes with strict exclusion conditions: policy Not applicable This applies to newly established businesses resulting from mergers, consolidations, divisions, separations, changes in business type, or changes in ownership. If businesses self-declare without properly verifying these exclusion conditions, the risk of being subject to retroactive tax collection is significant. Conversely, if businesses are unaware of their rights, they may completely miss out on the 3 years of tax exemption granted by law.
What services are included in accounting services for small and medium-sized enterprises?
A truly effective accounting service package for small and medium-sized enterprises (SMEs) should cover the entire financial and tax lifecycle throughout the year, not just monthly tax filings.
Accounting, periodic tax reporting
The foundational components include:
- Accounting for generated documents;
- Prepare and submit value-added tax returns;
- Personal income tax is paid monthly or quarterly;
- Monitor accounts receivable, manage electronic invoices in accordance with regulations on cashless payment thresholds, and periodically reconcile data with the business.
Consulting services for determining tax rates and tax incentives.
This is the most financially valuable aspect of accounting services for small and medium-sized enterprises: correctly determining the tax rate under Decree 320/2025/ND-CP (15% or 17%) based on the actual total revenue of each tax period, reviewing the conditions for enjoying a 3-year corporate income tax exemption under Resolution 198/2025/QH15 and Decree 20/2026/ND-CP, and preparing self-declaration documents in accordance with the principles required by the tax authorities.
Prepare financial statements and year-end tax returns.
This includes preparing financial statements in accordance with the accounting regulations applicable to the size of the enterprise (micro-enterprises may choose to apply a separate accounting system as guided by the Ministry of Finance, while other small and medium-sized enterprises apply the standard enterprise accounting system or a simplified accounting system), settling corporate income tax for the year, and settling personal income tax for employees.
Review interest expense and related-party transaction records (if applicable).
Many small and medium-sized enterprises (SMEs) have capital contributions or loans from their parent companies or individual shareholders, relationships that may constitute related-party transactions according to Decree 255/2026/ND-CP. In such cases, accounting services need to expand to include determining the threshold for deductible interest expenses and preparing documentation for transfer pricing in accordance with regulations, avoiding the disallowance of expenses during audits.
Are businesses the right target for using accounting services for small and medium-sized enterprises?
Not all businesses are automatically classified as small and medium-sized enterprises (SMEs) to receive preferential treatment. According to Article 5 of Decree 80/2021/ND-CP guiding the Law on Support for Small and Medium-Sized Enterprises, classification is based on both the business sector, the average number of employees participating in social insurance per year, and the total revenue or total capital of the year.
For example: Micro-enterprises in the agriculture, industry, and construction sectors that employ no more than 10 workers are eligible for social insurance and have total revenue or total capital not exceeding 3 billion VND; while the trade and service sectors have different revenue thresholds.
Incorrectly determining business size can lead to the application of the wrong tax rate, the wrong tax exemption conditions, or the loss of support policies specific to each business size group. This is the first step that any accounting service provider for small and medium-sized enterprises (SMEs) needs to take before starting to process the books.
Risks when small and medium-sized enterprises (SMEs) handle their own accounting.
Miss out on a 3-year corporate income tax exemption.
The biggest, and most easily overlooked, risk is that newly established businesses are unaware that they qualify for a three-year corporate income tax exemption under Article 10 of Resolution 198/2025/QH15. This policy applies on a business-to-business basis. Self-determine conditions, self-declare, and self-take responsibility.This means that if no one reviews and declares it in a timely manner, the tax exemption will not automatically arise but will simply be left blank. Conversely, declaring tax exemption for a business established due to division, separation, or conversion of business type, which falls under the exclusions specified in Decree 20/2026/ND-CP, is a common reason for tax arrears collection during tax audits.
Incorrect tax rates applied: 15%, 17%, or 20%.
Because tax rates depend on the total revenue of each tax period, businesses with revenue fluctuating around 3 billion VND or 50 billion VND are very likely to apply the wrong tax rate if they do not closely monitor cumulative quarterly revenue. In the case of newly established businesses that make provisional tax payments based on the projected tax rate but whose actual revenue at the end of the year exceeds the threshold, the business must also handle the difference during final settlement, a process prone to errors without continuous accounting oversight.
Errors in invoices, supporting documents, and deductible expenses.
With the mandatory cashless payment threshold for expenses to be considered valid lowered to 5 million VND per invoice according to Decree 320/2025/ND-CP, small and medium-sized enterprises (SMEs) accustomed to paying cash to small suppliers risk having a large amount of legitimate expenses disallowed during tax settlement, leading to an unintended increase in taxable income.
Failure to keep up with regulations regarding interest expense and related-party transactions.
Businesses that borrow capital from shareholders, parent companies, or individual executives without reviewing related-party relationships as required by current regulations are likely to miss declaration obligations, leading to the reassessment of interest expenses during audits. This is a risk that internal accountants rarely encounter, requiring complex technical skills in the area, from identifying related-party transactions and related parties to determining interest expenses. Even a small misdeclaration can lead to back taxes or even tax assessments.
How are accounting service fees calculated for small and medium-sized enterprises?
Accounting service fees for small and medium-sized businesses are typically charged monthly or annually, depending on the following factors:
- Number of invoices and documents generated during the period: Commercial businesses with many small transactions usually have a larger volume of documents than service businesses.
- Type and industry of business: Businesses involved in import/export, related-party transactions, or with multiple branches will require a broader scope of work.
- The number of employees and the associated social insurance and personal income tax obligations.
- Capital structure complexity: Businesses with loans from shareholders or foreign parent companies require additional review of interest expense and related-party transaction documentation.
To help businesses visualize the process, here is a reference price list for accounting services for small and medium-sized enterprises, calculated based on the number of invoices generated each month, including periodic tax reporting and accounting record review:
| Number of invoices/month | Reference fee (VNĐ/month) |
| From 1 to 5 invoices | 1.500.000 – 2.500.000 |
| From 6 to 21 invoices | 2.500.000 – 3.500.000 |
| From 21 to 60 invoices | 3.500.000 – 5.000.000 |
| 60 invoices or more | From 5,000,000 onwards |
Note: The price list above is for reference only. The actual cost of accounting services for small and medium-sized enterprises will vary depending on the size, industry, and complexity of each company's records and documents.
Outsourcing accounting services versus maintaining an in-house accounting department.
Compared to recruiting, training, and maintaining an in-house accounting department, which incurs costs for salaries, insurance, software, and training to keep up with new regulations, the alternative option... outsource accounting services This often helps small and medium-sized enterprises (SMEs) optimize their operating budgets while still ensuring they receive advice from a dedicated team and are regularly updated on the latest legal regulations. This is also why most startup businesses or those with fewer than 50 employees choose outsourcing instead of building their own accounting department from the outset.
The process of implementing accounting services for small and medium-sized enterprises.
The process for deploying accounting services for small and medium-sized enterprises at MAN – Master Accountant Network:
- Step 1 – Survey and determine the size of the business: Compare the criteria for labor, revenue, and capital sources according to Decree 80/2021/ND-CP to correctly determine whether an enterprise belongs to the micro, small, or medium group, as a basis for applying appropriate accounting regimes and preferential policies.
- Step 2 – Review eligibility for tax incentives: Verify the conditions for a 3-year corporate income tax exemption under Resolution 198/2025/QH15, and determine the applicable tax rate of 15% or 17% based on actual revenue.
- Step 3 – Standardize the system of documents and invoices: Review all input and output invoices to ensure compliance with cashless payment thresholds and deductible expense conditions.
- Step 4 – Perform periodic declaration and accounting: Prepare value-added tax and personal income tax returns on time, and reconcile data with the business on a monthly or quarterly basis.
- Step 5 – Prepare financial statements and annual tax returns: By compiling the data for the entire year, applying the correct tax rates and incentives determined in Step 2, complete the corporate income tax return.
- Step 6 – Regular consultations and policy change alerts: Update businesses on any changes to tax rates, incentives, and declaration forms as soon as the new regulations come into effect, to avoid leaving businesses unprepared.
The general framework process will be used as a reference; the level of detail will be adjusted according to the industry and actual scale of each business during implementation. accounting services.
Criteria for selecting a reputable accounting service provider for small and medium-sized enterprises.
When evaluating an accounting service provider, businesses should consider four criteria:
- Ability to stay updated on legal regulations. The team must demonstrate the ability to closely monitor new regulations such as the Corporate Income Tax Law 2025, Decree 320/2025/ND-CP, Resolution 198/2025/QH15, and related guiding decrees, instead of applying them based on old habits.
- Practical experience tailored to the scale and industry of the business. A manufacturing business with related-party financing will need an entity with experience in handling related-party transaction documents, unlike a purely trading business.
- Transparency regarding scope of work and costs: Service contracts should clearly state the scope of work and the responsibilities of each party to avoid unexpected costs.
- Commitment to confidentiality and legal responsibility. Because accountants hold all the sensitive financial data, service providers need to have clear information security mechanisms and commitments to accountability in the event of errors resulting from consulting mistakes.
See more: Should you hire accounting services?
Conclude
Accounting services for small and medium-sized enterprises (SMEs) not only help businesses comply with their tax declaration obligations but also serve as a tool to avoid missing out on legally mandated tax benefits, from preferential tax rates (15%, 17% based on revenue) to the 3-year corporate income tax exemption for newly established businesses. In the context of the rapidly changing 2026 tax legal framework, a knowledgeable and continuously updated accounting team is essential for businesses to operate confidently while optimizing their financial obligations legally.
If your business is considering whether to maintain an in-house accounting department or outsource, the experts at MAN – Master Accountant Network are ready to conduct a free survey of your business size, industry, and current record status to advise on the most suitable accounting service package for small and medium-sized enterprises, ensuring your business doesn't miss out on any legal tax benefits.
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
- Google Business Profile: View MAN – Master Accountant Network's Google Business Profile
- LinkedIn Founder: View expert Le Hoang Tuyen's LinkedIn profile.
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 Accounting Services for Small and Medium-Sized Enterprises
Are newly established small and medium-sized enterprises (SMEs) automatically exempt from corporate income tax for 3 years?
This is not a given. According to the principles of Decree 20/2026/ND-CP, businesses must determine their own eligibility, self-declare their eligibility, and take responsibility for applying the incentives. Businesses established through mergers, consolidations, divisions, separations, changes in business type, or changes in ownership are not eligible.
What revenue threshold qualifies for the corporate income tax rate 15% to apply?
According to Article 11 of Decree 320/2025/ND-CP, businesses with total annual revenue not exceeding 3 billion VND are subject to tax rate 15%; those with revenue exceeding 3 billion VND but not exceeding 50 billion VND are subject to tax rate 17%; and all other cases are subject to the standard rate 20%.
Do accounting services for small and medium-sized businesses include tax consulting?
A comprehensive service package should include reviewing eligibility for preferential tax rates and tax exemptions in accordance with current regulations, and reviewing accounting records, not just stopping at periodic tax filing.
Can a business that pays small invoices in cash be considered to have the expense disallowed?
Yes, it's possible. According to Decree 320/2025/ND-CP, invoices for goods and services purchased individually with a value of 5 million VND or more (including value-added tax) must have non-cash payment documentation to be considered deductible expenses.
Do businesses with loans from foreign parent companies need more specialized accounting services?
Yes. Loans from the parent company may constitute an affiliated relationship, in which case the business needs to review the interest expense limit and prepare documentation to determine the transfer pricing in accordance with current regulations, instead of just using normal accounting methods.
