Accounting

 

Essential Accounting wants you to focus on running your business and let us focus on your accounting and bookkeeping. We are fully qualified and knowledgeable Thai accountants with extensive experience assisting foreign businesses in Thailand. We can expertly assess your Thai accounting needs and fluently explain the best course of action in plain English, avoiding confusion or misunderstandings.

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With a deep comprehension of Thai standards and regulations, GPS Accounting will ensure all your bookkeeping is in full compliance. Whether overseeing your inhouse team or handling all your accounting and bookkeeping requirements, Essential Accounting can scale up or down as you need.

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Essential Accounting Reports Available Includes:

• Financial Statement: See how your assets and liabilities are affecting your company’s overall value.

• Income statement: Track profits and losses to understand your company’s financial health.

• Accounts receivable: learn who owes you how much and adjust customer credit accordingly.

• Accounts payable: plan expenditures better by knowing what bills still need to be paid.

• Fixed asset register: determine what assets are losing value or need replacing

• Business performance: assess your company’s performance measured against specific goals.

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Taxation

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Taxation in Thailand can be complicated, but we are experienced with the Thai Revenue Department. Particularly regarding businesses, there are a number of filings required throughout the year, including:

• VAT: PP 30s and PP 36s should reflect correct input and output VAT.

• Withholding tax: Are you properly filing PND 1, PND 2, and PND 53 forms every month?

• Social security payments: Have you set up your obligatory contributions properly?

• Interim corporate income tax statements: Avoid penalties from underestimating on your CIT 51.

• Annual corporate income tax statements: Do you need to file a CIT 50 and a CIT 54 as well?

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Don’t spend your valuable time worrying about VAT, withholding, and the other tax statements and filings required by Thai law. Our highly qualified Thai CPAs can navigate the Thai Revenue Department’s rules and regulations while we explain the process to you in clear English. We can work with your staff or handle the filings for you, so you can focus on your business.