Decision No. 961/2002/QD-NHNN amends and supplements certain accounts in the Accounting System of the State Bank of Vietnam, including provisions regarding accounting for the Foreign Exchange Reserve Fund, the Exchange Rate Stabilization and Gold Price Fund, counterfeit money, fake money, damaged money awaiting processing, public service funds, using foreign exchange reserves at the Government's order, receivable debts, budgetary funds allocated by the State Budget.
Scope of application
Agencies and units under the State Bank of Vietnam
Key points
- when opening account 481 'Foreign Exchange Reserve Fund' must revalue foreign currencies according to the exchange rate published by the State Bank of Vietnam, transferring the difference to account 631 'Difference in Foreign Currency Exchange Rates'.
- when opening account 483 'Exchange Rate Stabilization and Gold Price Fund' must determine the difference between sales and purchases of foreign exchange, revalue foreign currencies according to the published exchange rate to adjust the account.
- Account 9089 'Counterfeit Money, Fake Money, Damaged Money Awaiting Processing' is used to reflect various types of counterfeit money, fake money, and damaged money collected from customers.
- when opening account 467 'Public Service Funds' must record the amount of funds received and used according to designated purposes.
- Account 981 'Receivable Debts from Customers' is used to reflect the debts that the State Bank of Vietnam must collect from customers.
🌐 Social impact of this document
- Reducing financial risks for the State Bank of Vietnam through strict management of the Foreign Exchange Reserve Fund and the Exchange Rate Stabilization Fund.
- Enhancing the effectiveness of the use of public service funds and budgetary funds allocated by the State Budget.
❓ Frequently asked questions
Which accounts are amended in this decision?
This decision amends and supplements accounts 481 'Foreign Exchange Reserve Fund', 483 'Exchange Rate Stabilization and Gold Price Fund', 9089 'Counterfeit Money, Fake Money, Damaged Money Awaiting Processing'.
Which account is used to reflect public service funds?
Account 467 'Public Service Funds' is opened by units receiving and using public service funds, used to reflect the amount of funds received and used according to designated purposes.
When does this decision take effect?
This decision takes effect fifteen days after its date of issuance.
Full text
DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM
Regarding the amendment and supplementation of certain accountsin the Accounting Account System
The State Bank of Vietnam promulgates together withDecision No. 425/1998/QĐ-NHNN2 dated December 17, 1998
of the Governor of the State Bank of Vietnam
_______________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997;
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, authorities, and responsibilities for state management of ministries and ministerial-level agencies;
At the proposal of the Director of the Accounting and Finance Department of the State Bank,
DECISION:
Article 1. Now amending and supplementing certain accounts in the Accounting Account System issued by the State Bank of Vietnam pursuant to Decision No. 425/1998/QĐ-NHNN2 dated December 17, 1998 of the Governor of the State Bank of Vietnam as follows:
1. Amend Account 481 as follows:
481 Foreign Exchange Reserve Fund
4811 Foreign Exchange Reserve Fund
4812 Purchase and settlement of foreign exchange within the Foreign Exchange Reserve Fund
The accounting for this account must be carried out according to the following regulations:
a-Monthly (on the last day of the month), determine the increase or decrease in the value of foreign exchange within the Foreign Exchange Reserve Fund based on comparing the balance between Account 4811 "Foreign Exchange Reserve Fund"after revaluing foreign currency according to the exchange rate announced by the State Bank of Vietnam on the last day of the month or revaluing gold according to the revaluation price announced by the State Bank of Vietnam) .
b-If there is a difference, adjust the balance of Account 4812 to match the balance of Account 4811 (converted to Vietnamese Dong), this difference will be transferred to the Credit or Debit side of Account 631 "Exchange Rate Difference of Foreign Currency" (recorded correspondingly with Account 4812)
c-The transfer of foreign exchange from the Foreign Exchange Reserve Fund to the Exchange Rate Stabilization Fund and Gold Price Stabilization Fund; or temporarily borrowing and using foreign exchange from the Foreign Exchange Reserve Fund must be based on the original Decision of the Prime Minister and the Governor of the State Bank of Vietnam. The Accounting and Finance Department of the State Bank of Vietnam is responsible for keeping the original Decision of the Prime Minister.
The contents of the accounting for these accounts are as follows:
Account 4811 "Foreign Exchange Reserve Fund" shall only be opened at the State Bank of Vietnam Trading Center for accounting the value of foreign exchange within the Foreign Exchange Reserve Fund.
Credit side records: - Value of foreign exchange entering the Foreign Exchange Reserve Fund:
+ Transferred from the Exchange Rate Stabilization Fund and Gold Price Stabilization Fund.
+ Purchasing foreign exchange.
+ Recovering temporary advances for the State Budget.
Debit side records: - Value of foreign exchange exiting the Foreign Exchange Reserve Fund:
+ Transferred to the Exchange Rate Stabilization Fund and Gold Price Stabilization Fund.
+ Selling foreign exchange.
+ Temporary advances for the State Budget.
Credit Balance:
- Reflects the value of foreign exchange within the Foreign Exchange Reserve Fund that the State Bank of Vietnam is managing.
Detailed Accounting:
- Open three detailed accounts:
+ 4811.1- Foreign Currency
+ 4811.2- Gold
+ 4811.3- Securities and payment instruments denominated in foreign currency
Account 4812 "Purchase and settlement of foreign exchange within the Foreign Exchange Reserve Fund"shall only be opened at the Accounting and Finance Department for accounting the amounts of purchase and settlement of foreign exchange within the Foreign Exchange Reserve Fund. - The amount of Vietnamese Dong spent to purchase foreign exchange (
Debit side records:
calculated based on the actual exchange rate for foreign currency or the actual price for gold, securities, and payment instruments denominated in foreign currency when purchasedPay the corresponding amount of Vietnamese Dong ().
-) for the value of foreign exchange transferred from the Exchange Rate Stabilization Fund and Gold Price Stabilization Fund or returned from temporary advances (increasecalculated based on the actual exchange rate for foreign currency or the actual price for gold, securities, and payment instruments denominated in foreign currency when transferred or recovered- Transfer the difference in the increase in the value of foreign exchange within the Foreign Exchange Reserve Fund when:).
+ Revaluating foreign currency according to the exchange rate announced by the State Bank of Vietnam on the last day of the month (corresponding to Account 631 - Exchange Rate Difference of Foreign Currency).
+ Revaluating gold according to the revaluation price decided by the State Bank of Vietnam.
- The amount of Vietnamese Dong received from selling foreign exchange (
Credit side records:
calculated based on the actual exchange rate for foreign currency or the actual price for gold, securities, and payment instruments denominated in foreign currency when soldPay the corresponding amount of Vietnamese Dong ().
- reduced) for the value of foreign exchange transferred to the Exchange Rate Stabilization Fund and Gold Price Stabilization Fund or temporarily borrowed and used according to the Decision of the Prime Minister (calculated based on the actual exchange rate for foreign currency or the actual price for gold, securities, and payment instruments denominated in foreign currency when transferred or borrowed- Transfer the difference in the decrease in the value of foreign exchange within the Foreign Exchange Reserve Fund when:).
+ Revaluating gold according to the price decided by the State Bank of Vietnam.
+ Revaluating gold according to the revaluation price decided by the State Bank of Vietnam.
- Reflects the amount of Vietnamese Dong spent purchasing foreign exchange within the Foreign Exchange Reserve Fund (corresponding to the balance of Account 4811 "Foreign Exchange Reserve Fund).
Debit balance: + 4812.1- Foreign Currency
Detailed Accounting:
- Open three detailed accounts:
+ 4812.2- Gold
+ 4812.3- Securities and payment instruments denominated in foreign currency
2. Amend Account 483 as follows:
Exchange Rate Stabilization and Gold Price Stabilization Fund
483. 4831 Exchange Rate Stabilization and Gold Price Stabilization Fund
484. 4832 Purchase and settlement of foreign exchange within the Exchange Rate Stabilization and Gold Price Stabilization Fund
a-
The accounting for this account must be carried out according to the following regulations:
At the end of the accounting period, determine the difference between the sales volume of foreign exchange sold (equal to the total amount in Vietnamese Dong received from selling foreign exchange during the period, calculated based on the actual exchange rate or actual price sold) and the sales volume of foreign exchange purchased correspondingly (equal to the average purchase rate or price multiplied by the amount of foreign exchange sold during the period) to record this difference in the Revenue or Expense account regarding foreign exchange trading.After completing step 1 as mentioned above, proceed to determine the increase or decrease in the value of foreign exchange within the Exchange Rate Stabilization and Gold Price Stabilization Fund based on comparing the balance between Account 4831 "Exchange Rate Stabilization and Gold Price Stabilization Fund"
b-after revaluing foreign currency according to the exchange rate announced by the State Bank of Vietnam on the last day of the month or revaluing gold according to the revaluation price announced by the State Bank of Vietnam) with the balance of Account 4832 "Purchase and settlement of foreign exchange within the Exchange Rate Stabilization and Gold Price Stabilization Fund" to find the difference and adjust the balance of Account 4832 to match the balance of Account 4831 (converted to Vietnamese Dong), this difference will be transferred to the Credit or Debit side of Account 631 "Exchange Rate Difference of Foreign Currency" (recorded correspondingly with Account 4832).Account 4831 "Exchange Rate Stabilization and Gold Price Stabilization Fund"
The contents of the accounting for these accounts are as follows:
shall only be opened at the State Bank of Vietnam Trading Center for accounting the value of foreign exchange within the Exchange Rate Stabilization and Gold Price Stabilization Fund. : - Value of foreign exchange entering the Exchange Rate Stabilization and Gold Price Stabilization Fund:
Credit side records+ Transferred from the Foreign Exchange Reserve Fund.
+ Purchasing foreign exchange.
: - Value of foreign exchange exiting the Exchange Rate Stabilization and Gold Price Stabilization Fund:
Debit side records+ Transferred to the Foreign Exchange Reserve Fund.
+ Selling foreign exchange.
Selling foreign exchange.
Credit BalanceArticle - Reflect the foreign exchange value of the Exchange Rate Stabilization Fund and gold price fund that the State Bank is managing.
Detailed Accounting:
- Open two detailed accounts.
+ 4831.1- Foreign currency
+ 4831.2- Gold
+ 4831.3- Securities and payment instruments denominated in foreign currency
Account 4832 "Purchase and settlement of foreign exchange of the Exchange Rate Stabilization Fund and gold price fund" shall only be opened at the State Bank's Trading Department for recording the purchase and settlement of foreign exchange of the Exchange Rate Stabilization Fund and gold price fund.
Debit side records: - The amount of Vietnamese dong spent to purchase foreign exchange (calculated based on the actual exchange rate for foreign currency or the actual price for gold, securities, and payment instruments denominated in foreign currency when purchased).
-) for the value of foreign exchange transferred from the Exchange Rate Stabilization Fund and Gold Price Stabilization Fund or returned from temporary advances (increase) corresponding to the value of foreign exchange transferred from the Foreign Exchange Reserve Fund (calculated based on the actual exchange rate for foreign currency or the actual price for gold, securities, and payment instruments denominated in foreign currency when transferred).
- Transfer the difference in increased value of foreign exchange of the Exchange Rate Stabilization Fund and gold price fund when:
+ Revaluating gold according to the revaluation price decided by the State Bank of Vietnam.
+ Revalue gold according to the revaluation price announced by the State Bank of Vietnam.
Credit side records:
calculated based on the actual exchange rate for foreign currency or the actual price for gold, securities, and payment instruments denominated in foreign currency when soldPay the corresponding amount of Vietnamese Dong ().
- reduced) for the value of foreign exchange transferred to the Exchange Rate Stabilization Fund and Gold Price Stabilization Fund or temporarily borrowed and used according to the Decision of the Prime Minister () corresponding to the value of foreign exchange transferred to the Foreign Exchange Reserve Fund (calculated based on the actual exchange rate for foreign currency or the actual price for gold, securities, and payment instruments denominated in foreign currency when transferred).
- Transfer the difference in decreased value of foreign exchange of the Exchange Rate Stabilization Fund and gold price fund when:
+ Revaluating gold according to the revaluation price decided by the State Bank of Vietnam.
+ Revalue gold according to the price published by the State Bank of Vietnam.
Debit balance:
- Reflect the amount of Vietnamese dong being spent to purchase foreign exchange of the Exchange Rate Stabilization Fund and gold price fund (corresponding to the balance of account 4831).
Detailed Accounting:
- Open two detailed accounts.
+4832.1- Foreign currency
+4832.2- Gold
+4832.3- Securities and payment instruments denominated in foreign currency
3- Amend account 9089 as follows:
9089 Counterfeit money, fake money, damaged money awaiting processing
The accounting content of this account is as follows:
Account 9089 "Counterfeit money, fake money, damaged money awaiting processing"used to record counterfeit money, fake money, and damaged money collected from customers."
Credit side records: - Amount of counterfeit money, fake money, and damaged money entered into inventory.
Debit side records: - Amount of counterfeit money, fake money, and damaged money removed from inventory.
Remaining balance: - Reflect the amount of counterfeit money, fake money, and damaged money still being stored in inventory.
Detailed entries:
- Open detailed accounts according to each type of counterfeit money, fake money, damaged money, and according to the storage facility.
4- Supplement the following accounts to the Accounting System of the State Bank:
a- Account 467- Operating expenses
This account (only opened at units receiving and using operating expenses) is used to reflect the formation of operating expenses from state budget sources and other sources, and the use of such expenses for designated purposes.
Credit side records: - Amount of funds allocated.
Debit side records: - Amount of funds withdrawn for use.
Credit balance: - Reflect the remaining operating expenses of the State Bank that have not been used.
Detailed Accounting: - Open detailed accounts for each designated purpose.
b- Account 973 - Use of foreign exchange reserves pursuant to government orders
This account is only opened at the Central State Bank (Accounting and Finance Department) to reflect the value of foreign exchange from the foreign exchange reserve used pursuant to government orders.
Account 973 has the following third-level accounts:
9731In gold
9732In foreign currency
Credit side records: - Value of foreign exchange used pursuant to government orders.
Debit side records: - Recovery of foreign exchange reserves for the value of foreign exchange used pursuant to government orders.
Remaining balance: : - Reflect the value of foreign exchange from the foreign exchange reserve used pursuant to government orders, which has not yet been recovered.
Detailed entries:
- Open one detailed account.
c- Account 98 - Receivable debts
This account has the following second-level accounts:
981Receivable customer debts
982Receivable internal debts
+Account 981 "Receivable customer debts"used to reflect customer debts that the State Bank must collect and the status of collection of these receivables, such as: rent fees, guarantee fees charged to customers (collected later)..."
+Account 982 "Receivable internal debts"used to reflect internal debts that the State Bank must collect but have not yet been collected within the deadline, and the status of collection of these receivables, for example: rent for housing for State Bank staff under contracts..."
- Structure of accounts 981 and 982 is as follows:
Credit side records: - Amount of debt that the State Bank will collect.
Debit side records: - Amount of debt that the State Bank has already collected.
Remaining balance: - Reflect the amount of debt that the State Bank still needs to collect.
Detailed entries:
- Open detailed accounts according to each debtor unit or individual.
d- Account 996 - Budgeted operating expenses allocated by the state budget, used for designated purposes
This account (only opened at units receiving budgeted operating expenses) is used to reflect the amount of budgeted operating expenses and the status of their use as budgeted (such as training expenses, investment capital for construction projects...).
Credit side records: - Amount of budgeted operating expenses distributed and notified.
Debit side records: - Actual amount of budgeted operating expenses received and withdrawn.
Remaining balance: - Reflect the remaining budgeted operating expenses that have not yet been received or withdrawn.
Detailed Accounting: - Open detailed accounts according to each designated purpose.
At year-end, any remaining budgeted operating expenses will be canceled.
Article 2. This Decision shall take effect fifteen days from the date of signature.
Article 3. The Director of the Office, the Head of the Accounting and Finance Department, the Heads of Units under the State Bank, and the Governors of the State Bank Branches in provinces and centrally-administered cities are responsible for implementing this Decision./.
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