Full accounting service

Small and medium-sized enterprises (SMEs) in Vietnam often face a double pressure: focusing on business development while complying with complex tax and accounting regulations. Errors in documentation, delays in updating laws, or lack of expertise can lead to significant fines and legal risks not worth it

This is the time full accounting service become a lifesaver. This service is the entrustment of all accounting, tax, and financial reporting work to an outside professional unit. This not only helps you reduce the administrative burden but also ensures that the books are done accurately according to the law. This article, made by the team MAN – Master Accountant Network, will provide a detailed look at the process, benefits, and how to choose reputable partner, helping businesses to focus completely on core business activities.

What is a full-package accounting service? Core benefits optimize performance

Detailed definition and scope of work

Full accounting service (Full-service accounting) is the service company responsible for performing all accounting and tax operations arising during the period, from the initial receipt of documents to the completion of the year-end settlement report. The biggest difference with part-time accounting or consulting services is the nature comprehensive and continuous.

Basic services include:

• Tax accounting: Prepare and submit VAT and personal income tax declarations, and report on invoice usage monthly/quarterly.
• Internal accounting: Accounting for costs, revenue, detailed bookkeeping, profit and loss balance.
• Financial reports: Prepare Balance Sheet, Income Statement, Cash Flow Statement (year-end).
• Year-end settlement: Prepare corporate income tax and personal income tax settlement reports.
• Advice and explanation: Support businesses in explaining when requested by tax authorities.

The most important benefit

Usage MAN full accounting service Not just replacing an employee, but replacing an entire professional department, bringing outstanding benefits:

• Saving operating costs: Compared to recruiting, training and paying an internal accountant (including fixed salary, social insurance, health insurance, software costs, office supplies), the cost of hiring a professional service is often significantly lower and is fixed in a package.
• Ensure absolute compliance with the law: The team of experts is always updated with the latest circulars and decrees of the Ministry of Finance and the General Department of Taxation. This helps the company's books to always be up to standard, minimizing the risk of being administratively sanctioned due to professional errors or late payment.
• Increased accuracy and security: The workflow is strictly controlled by the quality management system. All your data is stored safely and securely, avoiding the risk of losing accounting data.
• Focus on core business: Business owners do not have to worry about filing deadlines, paperwork or the complexity of tax laws. You just need to provide invoices and documents, the rest is taken care of by the accounting team.

Process of implementing full accounting services

Professional and logical working process is the core to ensure the quality of full accounting serviceAt MAN, the process is divided into four clear stages:

Initial Setup

This is the most important step, especially for newly established businesses or businesses converting services.

• Check and review documents: Review all business registration documents, initial tax declaration documents and documents arising from the beginning of the fiscal year (if any).
• System setup: Re-establish the accounting system, encode documents, and choose the accounting method most suitable to the business characteristics of the enterprise.
• Consulting on invoices and documents: Detailed advice on the use and storage of invoices and input and output documents to ensure validity and legality for tax deduction.

Periodic implementation phase (Monthly/Quarterly)

Work is done continuously to ensure the accounting data stream is always updated and ready for periodic reports.

• Receiving and processing documents: Collect, classify, check the validity of all invoices and documents (Bank, sales, salary, expenses).
• Prepare and submit declaration: Prepare and submit tax declarations (VAT, PIT, invoice usage reports) on time.
• Accounting and balancing: Detailed accounting of internal accounting transactions, balancing costs and revenues to have an overview of profits.

Optimal tax consulting It is not just about calculating taxes, but about supporting businesses in making strategic decisions based on the law. MAN's team of experts will propose legal solutions to tax optimization must be paid, for example:

• Reasonable cost optimization is deductible when calculating corporate income tax.
• Plan when to recognize revenue and expenses in major transactions.
• Consulting on current tax exemption policies for the business's industry/geographical region.

Settlement period (End of financial year)

This is the summary stage, requiring high accuracy and experience to handle outstanding issues throughout the year.

• Prepare financial statements: Complete Financial Statements (Balance Sheet, Income Statement, Cash Flow Statement) according to Vietnamese accounting standards.
• Tax settlement: Prepare corporate income tax and personal income tax settlement reports.
• File delivery: Print, bind, and hand over all accounting books and archived records according to legal regulations to the enterprise for storage.

Tax inspection support

Support from a professional service partner will be a solid "shield" when tax authorities conduct inspections and audits.

• Working representative: MAN will represent the enterprise to work and explain directly to the tax authorities.
• Prepare documents: Prepare and arrange all records, documents and books as required by the inspection team in the most scientific and logical manner.

To better understand, please refer to the real-life example below:

Situation: Company A (e-commerce business) was audited for corporate income tax due to a sudden increase in advertising costs. Support from MAN: Having been consulted and prepared in advance, MAN's accounting team provided a detailed explanation within 3 working days, including: a clear advertising contract, detailed bank payment statements, and a marketing effectiveness report. Result: The inspection team accepted all advertising expenses as reasonable and valid. This helped Company A preserve the declared corporate income tax amount, avoiding a fine of up to 35 million VND and not subject to tax.

Factors determining service prices and comparison

Factors affecting service costs

Price of full accounting service not fixed but depends on the complexity and actual workload of the business.

Key elements include:

• Business size: Number of input/output invoices, monthly/quarterly revenue, and number of employees.
• Business areas: Fields such as construction, manufacturing, or import-export transactions often have more complex operations than simple trade and services, so costs will be higher.
• Transaction complexity: Factors such as related-party transactions, foreign direct investment (FDI), or transactions requiring special tax declaration (special consumption tax) will increase professional requirements and costs.

Cost Comparison: Outsourcing vs. Hiring an Internal Accountant

This is a practical comparison that helps SMEs clearly see the economic benefits of choosing reputable partner like MAN.

Criteria	Hire a full accounting service	Hire Internal Accountant (Junior/Mid-level)
Monthly Cost (Estimated)	2,000,000 – 6,000,000 VND (Flexible cost)	8,000,000 – 15,000,000 VND (Fixed cost)
Related costs	No additional costs (Including software, training, warranty)	Social insurance, health insurance (about 22% salary), software, office supplies.
Expertise and Experience	Team of experts with multi-industry experience, always updated with laws.	Limited to one individual's experience, prone to error when encountering new tasks.
Human resource risks	High stability, always have replacement. Risk insurance commitment.	Risk of layoffs, time required to recruit and train replacements.
Legal liability	The service company is responsible for explanation and compensation (if the error is due to the service).	The business is ultimately responsible.

Note after table: Outsourcing not only saves on fixed costs (salaries), but also reduces the risk of unforeseen costs (tax penalties) due to lack of expertise. This is the real value of full accounting service.

Criteria for choosing a reputable full-service accounting company

To ensure efficiency and legal safety, choosing a partner full accounting service must be based on the following criteria.

Experience and professional competence

Accounting is the field that requires the highest level of expertise.

• Legality: Partners must have a clear accounting service practice license and operate legally.
• Professional certification: Staff must have a practicing certificate, chief accountant, or auditor certificate (CPA) to ensure professional qualifications.
• Multidisciplinary experience: A service company with experience in handling documents for many different fields (manufacturing, services, trade, FDI) will help tax optimization and your business.

As MAN – Master Accountant Network, we bring a wide network of experts, with carefully screened accounting professionals, ensuring diverse practical experience and in-depth knowledge.

Risk insurance policy and compensation commitment

A company reputable partner There must be a clear commitment to responsibility.

• Commitment to responsibility: The service contract must include a commitment to take responsibility and compensate for damages (fines) if errors arise entirely due to the service company's professional errors.
• Transparent: The working process and handover of books must be clear so that businesses can easily control them.

Technology and working methods

Technology is the enabler of performance and security.

• Using modern software: Service companies should use reputable accounting software that ensures safety, data security and easy information extraction when needed.
• Clear process: Ensure that the process of receiving documents, responding to inquiries, and periodic reporting is carried out professionally and within the prescribed timeframe.

Conclude

MAN full accounting service not just an expense, but a smart investment that acts as a solid “legal insurance” for your business. By delegating work to professionals, you not only tax optimization legal but also frees up energy and time to focus 100% on product development and marketing.

Don't let the burden of paperwork and legal risks hinder your progress. Contact right away MAN for advice, analysis of business financial situation and quotation full accounting service suitable. Our team of experts is ready to become a trusted partner, helping your business develop sustainably and safely!