The chart of accounts is the foundation of a company’s entire accounting system. Every financial transaction - from recording revenue and expenses to preparing financial statements - relies on the structure of accounting accounts.
For many years, Circular 200/2014/TT-BTC has been the most widely applied accounting framework for Vietnamese enterprises. However, as the business environment evolves and modern management requirements increase, the Ministry of Finance issued Circular 99/2025/TT-BTC to update and improve the enterprise accounting system.
One of the most notable changes introduced by Circular 99 concerns the Chart of Accounts. These changes affect not only accounting practices but also have a direct impact on accounting software and ERP systems currently used by businesses.
This article helps businesses understand:
- What Circular 99 changes compared with Circular 200
- Which accounting accounts have been newly introduced
- Which accounts have been modified or removed
- What businesses should prepare when transitioning their accounting system
- How Viindoo ERP supports compliance with Circular 99
Why does the Chart of Accounts need to change?
Circular 200 was issued in 2014. After more than ten years of application, several limitations have become apparent in the enterprise accounting system:
- the chart of accounts is overly detailed and rigid;
- difficult to expand when businesses generate new types of transactions;
- not fully compatible with data structures of modern ERP systems;
- some new types of assets and economic activities are not adequately reflected.
In this context, Circular 99 was developed with several objectives:
- standardize the chart of accounts;
- reduce unnecessary detailed accounts;
- improve data scalability and analytical capabilities;
- gradually align with international accounting practices
This is particularly important for businesses that are implementing ERP systems or centralized data management platforms.
Major changes to the Chart of Accounts under Circular 99
Introduction of new accounting accounts
Circular 99 introduces several new accounts to more accurately reflect certain types of assets and financial obligations within enterprises.
A typical example is Account 215 - Biological Assets, which is used to record assets such as:
- perennial crops;
- livestock and poultry;
- animals raised for production purposes
The introduction of this account allows accounting systems to better represent businesses operating in agriculture or livestock production.
In addition, Circular 99 introduces several accounts related to profit distribution and financial obligations, helping enterprises more clearly record liabilities such as dividends or profit distributions payable to shareholders or investors.
Adjustment of account names and scope
Some accounts defined under Circular 200 have been adjusted in terms of naming or description to better reflect the nature of accounting transactions.
The objectives of these adjustments include:
- avoiding different interpretations among enterprises
- standardizing how accounts are used
- improving the comparability of financial statements
Although these adjustments do not change the fundamental accounting treatment, they may affect account mapping within accounting software systems.
>>>>> View the list of accounts renamed between Circular 200 and Circular 99
Reduction of detailed sub-accounts
One of the most significant changes under Circular 99 is the reduction of detailed sub-accounts.
For example
Under Circular 200:
| Under the new approach, businesses will use the consolidated account:
|
Detailed classification will instead be managed through:
- currency types
- subsidiary ledgers
- analytical data structures within the accounting system.
Similarly, accounts such as 1121 and 1122 have also been simplified.
Accounts abolished under Circular 99 are marked as deprecated
Reducing the number of detailed accounts brings several benefits:
- a more streamlined chart of accounts
- easier management and scalability
- better alignment with ERP data models
- fewer accounting entry errors
In modern ERP systems, detailed data is typically managed using: analytic accounting, dimensions, data tags.
This approach allows businesses to perform deeper data analysis without creating an excessive number of accounting accounts.
>>>>> Detailed list of accounts abolished under Circular 200
What should businesses do when transitioning from Circular 200 to Circular 99?
Transitioning the chart of accounts involves more than simply changing account codes. In practice, businesses need to perform several important steps.
1. Update the chart of accounts
Businesses need to:
- add newly introduced accounts
- remove accounts that are no longer applicable
- adjust account names according to the new regulations
2. Remap existing accounts
Existing accounts must be mapped to the new accounts to ensure:
- historical data remains accurate
- financial statements remain consistent and reliable
3. Adjust accounting reports
Certain financial reports may require updates in their structure or aggregation logic.
4. Update accounting software
If a business uses accounting software, the system must be updated to:
- support the new chart of accounts
- ensure financial reporting complies with the new regulations
Viindoo ERP has updated the Chart of Accounts under Circular 99
To support businesses in complying with the new regulations, Viindoo has implemented updates to the Chart of Accounts according to Circular 99 in its newer system versions (from Viindoo 17 onwards).
Key updates include:
- updating the Chart of Accounts in accordance with Circular 99
- introducing new accounting accounts
- removing accounts that are no longer applicable
- adjusting financial report mappings
Viindoo ERP has updated the Chart of Accounts under Circular 99
For businesses currently using these versions, the system will receive the updates through system upgrades.
Enterprises using earlier versions may need to reconfigure their accounting system or upgrade the software version to ensure compliance with the new accounting regulations.
Need to upgrade for Circular 99 compliance?
Contact Viindoo for guidance on upgrading and updating your accounting system.
Conclusion
Circular 99 marks an important step in the evolution of Vietnam’s enterprise accounting system. The revision of the chart of accounts not only standardizes accounting practices but also creates favorable conditions for businesses to adopt modern management systems such as ERP.
For enterprises, preparing early for the transition will help to:
- avoid accounting data discrepancies
- ensure financial reports comply with regulations
- improve financial management efficiency
With the updated chart of accounts available in the latest versions, Viindoo ERP enables businesses to operate an accounting system that complies with Circular 99 in a stable and efficient manner.
Appendix: Circular 99 vs. Circular 200 Chart of Accounts
New Accounts
Account Code | Account Name (Circular 99) | Accounting Guidance |
215 | Biological Assets | Reflects the current value and changes (increase or decrease) of: (i) biological assets related to agricultural activities (including biological assets generated from perennial plants producing periodic products); and (ii) agricultural produce at the point of harvest. The account is increased when purchasing, cultivating, or raising biological assets that increase their value, and decreased when assets are depreciated, sold, disposed of, damaged, or utilized. |
332 | Dividends and Profit Payable | Reflects dividends and profit distributions payable (in cash or non-cash assets) and the settlement of such payments to shareholders or capital contributors. The liability is recognized when the enterprise no longer has the right to avoid payment under relevant legal regulations. When payment is made, Account 332 is reduced accordingly. |
1383 | Special Consumption Tax on Imported Goods | Reflects the special consumption tax (SCT) on imported goods (e.g., imported fuel) that is deductible or refundable under tax regulations, excluding SCT already paid on temporary imports for re-export. |
2151 | Livestock for Periodic Produce | Livestock that produces products periodically. Detailed tracking includes: 21511 (immature stage) and 21512 (mature stage, including 215121 - cost and 215122 - accumulated depreciation). Costs for acquisition, care, and raising until maturity are recorded in 21511. When maturity is reached, the balance is transferred from 21511 to 21512. |
2152 | Livestock for One-time Produce | Livestock raised for a single harvest. All direct costs related to acquisition, care, and raising are capitalized as the cost of biological assets. At the end of the period, if there are signs of impairment or the net realizable value is lower than the carrying value, an impairment provision must be recognized. |
2153 | Seasonal Crops or Crops for One-time Produce | Seasonal crops or crops producing one-time harvests. All direct costs related to cultivation and care are capitalized as biological asset costs. Costs that do not generate future economic benefits are recognized as production expenses. If impairment indicators exist at period-end, a provision must be recorded. |
2295 | Allowance for Impairment of Biological Assets | Provision for impairment of biological assets (excluding biological assets accounted for as fixed assets). If the net realizable value is lower than cost, recognize impairment: Debit 632 / Credit 2295. Additional provisions or reversals are recorded according to accounting guidance. |
2414 | Upgrading and Improvement of Fixed Assets | Reflects expenses incurred for upgrading and improving fixed assets and the settlement of such expenditures. Costs incurred during the upgrade process are recorded in Account 2414 and transferred upon completion according to the guidance of Account 241. |
3525 | Other provisions | Provisions for other liabilities not separately classified. Recognized according to the principles of Account 352 when a present obligation exists from a past event and the amount can be reliably estimated. |
6275 | Taxes, fees and charges | Production overhead taxes, fees, and charges related directly to production units or workshops (e.g., land rent, natural resource tax, environmental protection fees). These costs are accumulated in 6275 and allocated to production costs according to the guidance of Account 627. |
21511 | Immature Livestock for Periodic Produce | Records costs related to livestock not yet reaching maturity. Acquisition, care, and raising costs are recorded in 21511 until maturity. |
21512 | Mature Livestock for Periodic Produce | Records livestock that have reached maturity, including cost (215121) and accumulated depreciation (215122). Upon maturity, balances are transferred from Account 21511. |
82111 | Current Corporate Income Tax Expense | Reflects current corporate income tax expense under CIT regulations. Quarterly tax liabilities are recognized: Debit 8211 / Credit 3334. Adjustments are made at year-end based on final tax settlement. |
82112 | Additional Corporate Income Tax Expense (Global Minimum Tax) | Reflects additional corporate income tax expenses under global minimum tax regulations. The responsible entity records tax obligations and allocations according to relevant guidance. |
>>>>> What should businesses do when transitioning from Circular 200 to Circular 99?
Renamed Accounts
Account Code | Account Name (Circular 200) | Account Name (Circular 99) |
112 | Cash in banks | Demand deposits |
1361 | Working capital provided to sub-units | Operating capital in dependent units |
155 | Finished products | Finished goods |
158 | Goods in bonded warehouse | Materials in bonded warehouse |
171 | Government bonds purchased for resale | Repurchase transactions of government bonds |
2147 | Depreciation of investment properties | Accumulated depreciation - investment property |
2288 | Other investments. | Other investments |
2413 | Major repairs of fixed assets | Major repairs and periodic maintenance of fixed assets |
242 | Prepaid expenses. | Prepaid expenses |
244 | Pledges, mortgages or deposits | Deposits and escrows |
33382 | Other taxes | Other taxes payable |
337 | Progress billings | Construction contract progress payments |
3387 | Unearned revenues | Deferred revenue |
3412 | Finance lease liabilities. | Finance lease liabilities |
353 | Bonus and welfare fund | Bonus and welfare fund |
3562 | Science and technology development fund that forms fixed assets. | Science and technology development fund used to form assets |
41112 | Preference shares | Preference shares |
4112 | Share premium | Share premium |
419 | Treasury shares | Treasury shares |
4211 | Undistributed post-tax profits of previous year | Retained earnings - accumulated to prior year-end |
6232 | Cost of materials | Materials cost |
6272 | Cost of materials | Materials cost |
6412 | Costs of materials, package | Packaging and materials cost |
6415 | Costs of warranty | Taxes, fees and charges |
Removed Accounts
Account Code | Account Name (Circular 200) |
1111 | Cash in VND |
1112 | Cash in transit in foreign currencies |
1113 | Monetary gold deposits |
1121 | Cash in transit in VND |
1122 | Cash in transit in foreign currencies |
1123 | Monetary gold deposits |
1131 | Cash in transit in VND |
1132 | Cash in transit in foreign currencies |
1211 | Shares |
1212 | Bonds |
1218 | Other securities and financial instruments |
132 | Receivables from the State |
1385 | Receivables from equitization |
1531 | Tools and supplies |
| 1532 | Reusable packaging materials |
| 1533 | Instruments for renting |
| 1534 | Equipment and spare parts for replacement |
| 1551 | Finished products - inventory |
| 1557 | Finished products - real estate |
| 1561 | Purchase costs |
| 1562 | Incident purchase costs |
| 1567 | Properties held for sale |
| 161 | Non-business expenditure out of funds received from the State |
| 1611 | Brought forward non-business expenditures |
1612 | Current non-business expenditures |
2111 | Buildings and structures |
2112 | Machinery and equipment |
2113 | Means of transportation and transmission |
2114 | Office equipment and furniture |
2115 | Perennial plants, working animals and farm livestocks |
2118 | Other fixed assets |
2121 | Finance lease tangible fixed assets |
2122 | Finance lease intangible fixed assets |
2131 | Land use rights |
2132 | Copyrights |
2133 | Patents and inventions |
2134 | Product labels and trademarks |
2135 | Computer software |
2136 | Licences and franchises |
2138 | Other intangible fixed assets |
3341 | Payables to staff |
3348 | Payables to others |
3385 | Payables on equitization |
34311 | Par value of bonds |
34312 | Bond discounts |
34313 | Bond premiums |
3524 | Other provisions |
4131 | Exchange rate differences upon revaluation of monetary items denominated in foreign currency |
4132 | Exchange rate differences in pre-operating period |
417 | Enterprise reorganization assistance fund |
441 | Capital expenditure funds |
461 | Non-business funds |
4611 | Non-business funds bought forward |
4612 | Non-business funds for current year |
466 | Non-business funds used for fixed asset acquisitions |
5111 | Revenue from sales of merchandises |
5112 | Revenue from sales of finished goods |
5113 | Revenue from services rendered |
5114 | Revenue from government grants |
5117 | Revenue from investment properties |
5118 | Other revenue |
5211 | Trade discounts |
5212 | Sales returns |
5213 | Sales rebates |
611 | Purchases (used for periodic inventory systems) |
6111 | Purchases of raw materials |
6112 | Purchases of goods |
631 | Production costs |
Need to upgrade for Circular 99 compliance?
Contact Viindoo for guidance on upgrading and updating your accounting system.
