1. Thailand Statutory Accounting

Our statutory accounting service includes the following:

  • Prepare required accounting records;
  • Assisting with accounting software;
  • Closing the accounts annually;
  • Preparation of a financial statement to be certified by a certified auditor; and
  • Filing the audited financial statement with the Account Central Office, Revenue Department and MOC.

2. Thailand Accounting System Set Up

Our accounting system set up service includes the following:

  • Interview management and accounting staff in order to understand the client’s current accounting system and documentation flow;
  • Prepare written summary of our findings for management to confirm;
  • Analyze current accounting system and present the recommended accounting system & software to client’s management;
  • Provide recommended accounting system flow chart together with chart of accounts which describes accounting documentation flows and functions of the responsible persons in
  • each system including: 1) sales / accounts receivable and invoice / receipt processing; 2) purchase / account payable and payment processing; 3) fixed assets; and 4) inventory;
  • Provide list of required accounting document, format of the document and number of the required copies of each document;
  • Provide accounting policy and internal control for each system;
  • Install and implement the recommended accounting software as agreed by the client’s management (note – outsourcing of this service may be required);
  • Provide training to accounting and finance staff ;
  • Design management report according to management’s requirements;
  • Successfully implement appropriate accounting system, documentation flow and software in order to be able to produce effective management & financial reports in accordance
  • with generally accepted accounting principles and tax law in Thailand;
  • Prepare client’s accounting staff to perform their accounting function properly under the new accounting system; and
  • Meeting regularly with the client to review accounting and tax compliance after accounting system implementation.

The work products of our accounting system set up service includes the following:

  • Summary of current accounting system in writing;
  • Recommended accounting system flow chart;
  • Chart of accounts;
  • Accounting documentation flows and summary of functions of the responsible person in each system;
  • Internal control for each system;
  • Recommended software installation and implementation; and
  • Appropriate financial reports.