New Regulations on Account 113 - Funds in Transit, Awaiting Confirmation from the State Treasury

14:03, 11/07/2024

Recently, the Ministry of Finance issued Circular 112/2018/TT-BTC amending and supplementing Circular 174/2015/TT-BTC providing guidance on the accounting of tax operations and other revenues for exported and imported goods.

According to Circular 112, the implementation of accounting for account 113 is based on the following principles:

- Account 113 reflects amounts of money paid by Customs to the State Treasury, revenue information to the customs electronic payment gateway sent by the bank, and the State Treasury but has not received confirmation from the State Treasury.- Documents for accounting into this account include: Documents for disbursement of cash to deposit into the State Treasury, related documents from the State Treasury, and related documents from the bank.- Only account into Account 113 the amounts of money the customs authorities have deposited into the State Treasury, revenue information to the customs electronic payment gateway sent by the bank, and the State Treasury but has not received confirmation from the State Treasury.

Also according to Circular 112, account 113 - Funds in transit, awaiting confirmation of revenue information from the State Treasury, includes 3 sub-accounts as follows:

- Account 11301 - Funds in transit- Account 11302 - Funds awaiting confirmation of revenue information from the State Treasury- Account 11399 – Others.

For more related regulations, refer to Circular 112/2018/TT-BTC which took effect from January 01, 2019.

- Thanh Lam -

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