VAS TT200 Compliance: What Vietnamese Businesses Need to Know

Circular 200/2014/TT-BTC (Thông tư 200) is the primary accounting standard for enterprises in Vietnam. Issued by the Ministry of Finance, it defines the chart of accounts, financial statement formats, and reporting requirements that Vietnamese companies must follow. Non-compliance isn't a technical issue — it's a legal one.

What TT200 Requires

The standard covers several key areas:

Chart of Accounts — A standardized system of 3-digit account codes covering assets (111–228), liabilities (331–344), equity (411–421), revenue and expenses (511–821).
Financial Statements — Three mandatory reports with official formats:
- B01-DN: Balance Sheet (Bảng cân đối kế toán)
- B02-DN: Profit & Loss Statement (Báo cáo kết quả hoạt động kinh doanh)
- B03-DN: Cash Flow Statement — indirect method (Báo cáo lưu chuyển tiền tệ)
Double-entry bookkeeping — All transactions must be recorded with debit and credit entries.
Period closing — Accounts must be closed at the end of each accounting period with proper carry-forward entries.

XBuddy's TT200 Implementation

XBuddy's Accounting module now ships with full TT200 compliance:

Chart of Accounts

When you choose "VAS TT200" as your accounting standard in Company Settings → Localization, XBuddy seeds 65+ accounts following the official TT200 structure. You can add sub-accounts and customize descriptions while keeping the standard root codes.

B03-DN Cash Flow Statement

The indirect-method cash flow statement is one of the most complex reports to produce correctly. XBuddy generates it automatically from your general ledger data, mapping each line to the official VAS line codes (mã 01–70): from profit before tax (mã 01) through to closing cash and cash equivalents (mã 70).

B01-DN and B02-DN

Balance Sheet and P&L Statement are mapped to the official B01-DN and B02-DN section structures respectively. The system validates that GL balances map correctly to each report line before allowing export.

Choosing the Right Standard

XBuddy supports multiple accounting standards:

VAS TT200 — For Vietnamese enterprises required to follow Ministry of Finance standards
IFRS — For international companies or those preparing for cross-border investment
US GAAP — For subsidiaries of American companies
FRS — For UK/Singapore-based entities
Custom — Define your own chart of accounts and report structure

What This Means Practically

If your company is subject to TT200, you can now run your full accounting operations in XBuddy without any manual adjustments for compliance. The system produces audit-ready financial statements in the exact formats required by Vietnamese regulators — ready for your auditors and tax filing.