Logistics activities in Vietnam are entering the stage of development and growth, opening up opportunities for many industries including logistics accounting profession. Let’s find out some information about this industry.

Logistics accounting profession

Logistics accounting also performs the same professional business as other services such as corporate accounting or bank accounting. However, the biggest difference is that due to the nature of transactions with foreign countries, the use of foreign currency in accounting is extremely popular.
Especially, accounting of logistics has some differences compared with accounting of other sectors. So how is the logistics accounting process implemented?

Accounts used for making accounts

Use accounts 131, 331 to account receivables and payables (including the amounts collected and paid, 138, 338)
Use account 511 including:

  • 51131: Freight revenue
  • 51132: Local charge includes: Container handling charges, seals, voucher fees and telex
  • Account 627 – outside purchase service
  • 62771: Costs
  • 62772: Local charge (cost of services purchased from outside)

What is the job of logistics accounting?

The main operations in logistics accounting include:

  • Collecting and spending households.
  • Financial statements
  • Use accounting software to make books.
  • Tax reports
  • Settlement report
  • Invoice.

Employment opportunities in logistics accounting

Facing the opportunity to transform ourselves to become the world’s processing factory, job opportunities in the logistics industry are growing higher than any other time. Especially in logistics accounting.
Mastering the knowledge in this industry, you have the opportunity to work in the following positions:

  • Accounting staff (Accounting Staff, Accounting Executive)
  • General Accounting
  • Accounting liabilities
  • Cashier (Cashier)
  • Financial staff (Finance Staff, Finance Manager)
  • Accounting manager (Chief Accountant, General Accountant)

Difficulties in logistics accounting

Despite being dubbed as the most profitable service industry, there are difficulties in a logistics business. Especially in accounting. Currently logistics is facing problems such as:

  • Weak financials: Although the number of logistics companies operating in Vietnam in this period is increasing dramatically, domestic enterprises are not really effective compared to existing opportunities. Prestigious assessments show that the effective index of Vietnam logistics is only ranked 53rd in the world and 5 in the region.
  • Not enough package service: Most Vietnamese logistics companies can only meet part of the supply chain. Package deals are still in the hands of foreign capital companies. Foreign businesses 100% such as Maersk Logistics, APL Logistics, NYK Logistics, MOL Logistics … are accounting for more than 80% market share of our country.
  • Insufficient manpower: The training program is old, backward, more theoretical and practical, creating a generation of young workers who are not skilled enough to come out to work. Given this dilemma, the challenge is that the training process must be upgraded and create real effectiveness, not just virtual values.
  • Infrastructure is still weak: weak infrastructure, outdated road transport systems and small ports that can only accommodate small-sized ships, feeder ships are also difficult to have recovery from the State and Government. covered.
  • Lack of synchronization in operation.

Translation: Tiếng Việt