What are components and contents of Account 462 – Other payables of non-bank credit institutions in Vietnam?

Pursuant to Clause 2 Article 34 of the Circular 05/2019/TT-BTC (takes effect from 01/04/2019) stipulating components and contents of Account 462 – Other payables of non-bank credit institutions in Vietnam as follows:

Debit side:

- Carry-forward of the surplus value to corresponding accounts under the decision specified in the written document stating actions;

- Trade union budget spending at microfinance institutions;

- Amounts of Si, HI, UI contributions and union dues paid to SI, HI, UI and trade union budget authorities;

- Unearned revenues charged in each accounting period; reimbursement of advances to customers in case of termination of leasing of assets;

- Reimbursement of received security pledges or deposits;

- Actual payments charged into expenses payable;

- Positive difference in which expenses payable are greater than actual expenses recorded as expense reductions;

- Other amounts payable.

Credit side:

- Value of surplus assets awaiting disposal (without clear causes); value of surplus assets payable to individuals or collectives under the decision specified in the written document stating disposal of such assets if causes for existence of such assets are immediately determined;

- Charging SI, HI, UI and union dues into business expenses or withholding them from salaries paid to staff members;

- Payments for accommodation rentals, electricity and water bills to staff members who live in collective houses;

- Union budget that is overspent and supplemented;

- SI benefits paid to staff members if these benefits are paid by social insurance agencies;

- Unearned revenues arising at end of an accounting period;

- Other entrusted collectibles that must be repaid;

- Received pledges and collateral.

- Payable expenses estimated in advance and recorded as operating expenses;

- Other amounts payable.

Balances on the Credit side:

Reflecting remaining amounts payable at end of an accounting period.

This account may have balances on the Debit side. Balances on the Debit side shall reflect the already paid amounts greater than the amounts payable at end of an accounting period.

Above are components and contents of Account 462 – Other payables of non-bank credit institutions in Vietnam.

Best regards!