Finance & Accounting Services

Our comprehensive range of accounting services forms the cornerstone of financial success for businesses of all sizes. With meticulous attention to detail, we ensure that every financial transaction is accurately recorded and organized, laying a robust foundation for informed decision-making. From crafting crystal-clear financial statements to expertly navigating the complexities of tax planning and preparation, our dedicated team is committed to empowering your business. Discover a world where financial clarity is your greatest asset, and where compliance meets strategic advantage. Explore our suite of services and embark on a journey towards fiscal excellence with us.

Accounting Services

Efficient bookkeeping is the backbone of any successful business. It involves meticulously recording and organizing all financial transactions, including sales, purchases, receipts, and payments. This ensures that your financial records are accurate, up-to-date, and well-organized, providing a solid foundation for informed decision-making and compliance with regulatory requirements.

Creating clear and comprehensive financial statements is crucial for understanding the financial health of your business. We specialize in crafting accurate income statements, balance sheets, and cash flow statements. These documents offer a snapshot of your business’s financial performance, showing revenue, expenses, assets, liabilities, and cash flow. This valuable insight enables you to make informed financial decisions and demonstrate your company’s fiscal stability to stakeholders.

Navigating the complexities of tax regulations can be overwhelming. That’s where our expertise in tax planning and preparation comes in. We provide strategic advice on tax strategies tailored to your specific circumstances. Our experienced team will also handle the meticulous preparation of tax returns for individuals, businesses, and organizations. This ensures compliance with tax laws while optimizing your tax position, ultimately minimizing your tax liability and maximizing your financial well-being.

BOOKKEEPING

Record Financial Transactions: This is the core of bookkeeping. It involves recording all financial transactions, including sales, purchases, expenses, income, and payments, in a systematic manner.

Categorize Transactions: Each transaction needs to be categorized appropriately. Common categories include revenue, expenses, assets, liabilities, and equity. This step helps in organizing financial data for reporting.

Maintain General Ledger : The general ledger is a master record that provides a complete record of all financial transactions. It includes separate accounts for each type of transaction.

Bank Reconciliation: Regularly comparing the records of transactions in the general ledger with those in the bank statement ensures that all transactions are accurately accounted for and reconciled.

Accounts Receivable and Accounts Payable Management: Keep track of money owed to the business by customers (accounts receivable) and money owed by the business to vendors and suppliers (accounts payable).

Record Depreciation and Amortization: If applicable, record depreciation (for tangible assets) and amortization (for intangible assets) to reflect the decrease in value over time.

Track Inventory: If your business involves selling products, track the quantity and value of inventory to accurately calculate cost of goods sold.

Prepare Financial Reports: Generate financial statements, including income statements, balance sheets, and cash flow statements, which provide a clear snapshot of the company’s financial position.

Reconcile Petty Cash: If there’s a petty cash fund, ensure it’s reconciled regularly and that all expenses from the fund are properly accounted for.

Record Accruals and Deferrals: Accrual accounting recognizes revenue and expenses when they are earned or incurred, regardless of when cash changes hands. Deferrals involve recognizing revenue or expenses at a later date.

Maintain Audit Trail: Keep a clear record of all financial transactions with appropriate documentation. This ensures transparency and aids in resolving any discrepancies.

Stay Current with Tax Laws and Regulations: Ensure compliance with tax laws by keeping up-to-date with any changes that may affect your bookkeeping practices.

Maintain Data Security: Implement security measures to protect sensitive financial information from unauthorized access or breaches.

Archive Financial Records: Keep a well-organized archive of financial records in accordance with legal and regulatory requirements.

Financial Statement Preparation

Summarize revenues and expenses over a specific period, showing the profitability of the business.

Present the financial position of the business at a specific point in time, showing assets, liabilities, and equity.

Detail the inflow and outflow of cash and cash equivalents over a specific period, providing insights into liquidity and cash management.

Track changes in owners’ equity over a specific period, reflecting investments, distributions, and retained earnings.

Provide additional explanations and details related to specific accounts and financial data.

Calculate and interpret key financial ratios (e.g., profitability ratios, liquidity ratios) to assess the company’s financial performance and health.

Ensure that the financial statements adhere to relevant Thai accounting standards and regulations.

Include any necessary disclosures, explanations, or additional information to provide context for the financial statements.

Organize financial data and documents to facilitate the auditing process, if applicable.

Prepare financial statements for specific interim periods (e.g., quarterly or semi-annually) to provide periodic performance snapshots.

Convert financial data into a common currency if the business operates in multiple currencies.

Tailor financial statements to meet specific reporting requirements of stakeholders or regulatory bodies.

Provide financial statements in multiple languages to accommodate diverse stakeholders.

Create specialized financial reports for internal use, including variance analysis and performance metrics.

Tax Planning and Preparation

Meet with the client to understand their financial situation, business operations, and specific tax needs in the context of Thai tax regulations.

Analyze various sources of income, including business profits, investments, and other revenue streams, to determine taxable income.

Identify eligible deductions, tax credits, and exemptions available under Thai tax laws to minimize tax liability.

Ensure strict compliance with the latest Thai tax laws, regulations, and codes relevant to the business.

Develop a customized tax strategy that aligns with the client’s business goals while optimizing deductions and minimizing tax liabilities within the Thai tax framework.

Assess the most tax-efficient business structure in Thailand, considering options like sole proprietorship, partnership, limited company (LLC), or public company.

Ensure accurate reporting and compliance with Thai VAT regulations, including timely filing of VAT returns.

Manage withholding tax obligations, ensuring accurate withholding and timely submission to tax authorities.

Prepare and file the annual corporate income tax return (P.N.D. 50) in compliance with Thai Revenue Department requirements.

Assist with personal income tax planning and filing for business owners or expatriate employees, including the completion of the personal income tax return (P.N.D. 90).

Ensure compliance with Thai transfer pricing regulations to avoid penalties and maintain arm’s length pricing.

Conduct a thorough review of all tax documents and ensure accurate and timely submission of tax returns to the Thai Revenue Department.

Represent the client in case of tax audits or inquiries, providing necessary documentation and explanations.

Stay updated with changes in Thai tax laws and advise clients on relevant updates to ensure ongoing compliance.

Specifically for Thailand, prepare and file the P.N.D. 50,51 (corporate income tax) and P.N.D. 90,91 (personal income tax) returns accurately and on time.

Full services work flow Scope

Gather essential client information, including contact details, business type, and specific requirements.

Review and analyze client’s needs to determine the scope of work and necessary documentation.

Meet with the client to discuss tax planning strategies and identify potential deductions and credits.

Compile and organize financial data to generate accurate income statements, balance sheets, and cash flow statements.

Maintain detailed records of financial transactions, ensuring accuracy and compliance with accounting standards.

Evaluate eligible deductions, credits, and exemptions to optimize tax liabilities and reduce overall tax burden.

Assess the most tax-efficient business structure based on the client’s specific circumstances.

Ensure accurate reporting and compliance with Value Added Tax (VAT) regulations.

Handle withholding tax requirements, including accurate withholding and timely submission.

Prepare and review corporate (P.N.D. 50) and personal (P.N.D. 90) income tax returns for submission.

Assist in responding to tax audits or inquiries by providing necessary documentation and explanations.

Keep clients informed of important updates, deadlines, and any additional information needed.

Conduct a final review of all documents and ensure accurate and timely submission to relevant authorities.

Provide ongoing support, advice, and updates to clients on tax-related matters as needed.

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