What is the job of tax accounting and internal accounting? Distinguish the similarities and differences between internal accounting and tax accounting operations in a business.
Internal accounting and tax accounting are the two most basic accounting operations of a business. There are big differences between these two accounting operations in terms of the nature of work, professional knowledge and workload. This article from fdiinvietnam.com will help you distinguish between tax accounting and internal accounting in a business.
Tax accountant job
In a business, an accountant in charge of tax accounting is responsible for handling tax-related accounting operations and must work directly with state agencies when necessary. Specifically, a tax accountant needs to perform the following tasks:
- Prepare and submit tax declarations: VAT, personal income tax, corporate income tax and other reports as prescribed;
- Invoice and document management: collect, check and perform detailed accounting of tax-related documents;
- Tax reporting and settlement: prepare financial reports, annual tax settlement and compare data to ensure accuracy;
- Working with tax authorities: representing businesses in tax-related work such as tax refunds, tax incentives for special projects;
- Tax policy update: regularly monitor and apply new legal regulations.
Reference:
>> Tax accounting services of fdiinvietnam.com;
>> Service accounting work.
Internal accountant work
An internal accountant is a person who performs accounting work within a business at the request of the director or chief accountant. Normally, an internal accountant will have to collect, process and manage all internal documents of the business to support the analysis and management of business activities.
The scope of work of an internal accountant in a business can vary depending on the size, department, and requirements of the business. Typically, basic tasks include:
- Fund accounting: cash management, recording revenue and expenditure, reconciling fund data;
- Bank accounting: monitor bank account fluctuations, prepare related documents;
- Warehouse accounting: manage import – export – inventory, create inventory reports;
- Payroll accounting: salary and bonus calculation, insurance management;
- Sales accounting: revenue management, customer debt;
- Accounts receivable accounting: track receivables, make collection plans;
- General accounting: summarizes data, supports data reconciliation and provides data to tax accountants.
>> See details: Internal accountant’s work.
Difference between tax accounting and internal accounting
Below is a comparison table of the basic differences between tax accounting and internal accounting for your reference.
➨ Tasks to be performed
| Tax accounting | Internal accounting |
| Collect all invoices and documents, calculate and declare taxes, and pay taxes for the business. | Collect, record, process documents, summarize and control activities related to the actual assets of the enterprise. |
➨ Document control
| Tax accounting | Internal accounting |
| Manage and control invoices and documents according to tax laws. | Manage and control all invoices and documents related to business activities. |
➨ Accounting
| Tax accounting | Internal accounting |
| Accounting for all documents according to tax laws | Accounting for documents according to internal principles in the enterprise |
➨ Report
| Tax accounting | Internal accounting |
| Prepare and submit all types of declarations, monthly and quarterly reports, and annual financial reports according to tax regulations. | Make weekly, monthly, quarterly reports, or ad hoc reports as requested by the director. |
➨ Responsibility
| Tax accounting | Internal accounting |
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See also:
>> Top 10 reputable accounting service companies in Hanoi;
>> Top 8 reputable accounting service companies in Da Nang;
>> Top 10 reputable accounting service companies in Ho Chi Minh City.
Tax accounting and internal accounting services of fdiinvietnam.com
Whether it is tax accounting or internal accounting, both positions are quite important in the business, requiring high accuracy and timeliness. However, many newly established businesses choose to hire accounting services (for both tax accounting and internal accounting operations) to optimize costs and ensure accuracy. So which unit provides reputable and professional internal accounting services and tax accounting services?
With nearly 20 years of experience in the field of tax accounting and corporate law, fdiinvietnam.com is always confident to be the leading partner providing reputable, professional, and reasonably priced full-package accounting services in Vietnam.
With a team of highly qualified and experienced chief accountants in many fields, Online Accounting will help you solve all accounting tasks quickly, accurately, promptly warn and give you useful solutions to help your business operate effectively and optimize costs.
Check out fdiinvietnam.com’s accounting services now:
- Full package tax accounting service – Only from 500,000 VND/month;
- Internal accounting services for businesses – From only 1,000,000 VND/month;
- Year-end financial reporting service – Full package from 1,000,000 VND.
Contact fdiinvietnam.com immediately via the hotline below to receive advice from fdiinvietnam.com’s accounting experts and use the service as soon as possible!
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Call us at 0978 578 866 (North) – 033 9962 333 (Central) – 0946 724 666 (South) for support.