Legal service for foreign clients
Monthly Outsourced Accounting for Foreign-Owned Thai Companies in Thailand
Books closed monthly, filings on time, and an English report your head office can actually read.
Quick answer
Monthly accounting for a Thai company means recording transactions, producing a trial balance, filing withholding tax returns by the 7th of the following month, submitting the value added tax return by the 15th, and remitting social security contributions on the same date. We run the whole cycle and hand foreign management an English-language statement plus a cash summary every month. Contact our team for a quotation.
Contact our team for a quotation — contact our team for a quotation, scaled by document count and headcount; the annual closing package is quoted separately. · Timing depends on documents and the authority; no completion date is promised
Who this is for
- Subsidiaries that report upward to an overseas parent
- Foreign founders with no finance team on the ground
- Businesses penalised for late filings who want a clean restart
- Companies preparing for investor due diligence
What you receive
- Transaction posting and bank reconciliation every month
- Withholding and value added tax filings with the electronic receipts
- Payroll runs, payslips, and social security remittance for every employee
- Bilingual trial balance and profit statement by the 20th of the next month
- A digital document file the auditor can open directly at year end
Documents to prepare
- Purchase and sales tax invoices plus expense receipts for the month
- Bank statements for every account in file form
- Salary, benefit, and joiner-leaver details for staff
- Contracts that affect revenue recognition, such as multi-year service deals
How it works
4-step process
- 1
Handover and health check of the existing books
We reconcile last year's statements against the returns actually filed and surface differences that need an explanation before the new period starts.
- 2
Chart of accounts and a document calendar
Account codes are mapped to the report your parent company uses, and the monthly cut-off date is set to something your team can actually meet.
- 3
Close the period and file
Posting, reconciliation, then every return submitted online with the filing evidence stored in the same folder.
- 4
Management report and forward warnings
The monthly summary flags cash you will need soon, such as the half-year tax instalment and withholding on planned dividends.
In depth
Monthly Outsourced Accounting for Foreign-Owned Thai Companies: what foreign clients need to know
Outsourced accounting should do more than submit tax forms on time. The monthly numbers should explain where cash moved, which customers remain unpaid, which costs changed unexpectedly, and whether the same ledger can support the annual statements. This guide separates the monthly scope, the responsibilities of management and the bookkeeper, the document controls, and the tests directors can use to judge whether the output is decision-ready.
A reliable close starts before filing day
Each month needs a document cut-off, a complete list of bank and payment accounts to reconcile, and a named approver for transactions that lack evidence. Delivering an unsorted bundle immediately before filing prevents a completeness check and risks mixing input tax that is claimable with documents that do not support a claim.
We maintain a missing-document register outside the ledger. Before close, the client can see which item awaits a tax invoice, an explanation, or treatment as a director advance. That reduces retrospective adjustments and gives the auditor a trace from trial balance back to source evidence.
Tax returns and the ledger must reconcile
The sales VAT report should not be reviewed in isolation from ledger revenue. Withholding tax must connect to payables, expense recognition, and certificates issued to vendors. Differences need a reconciliation that names the reason, such as deferred revenue, a transaction outside VAT, or the timing of the tax invoice.
Cross-border transactions require extra checks on exchange rates, withholding on outbound payments, and the contract that identifies whether a payment is for goods, services, royalties, or interest. The bank-transfer label alone is not enough to determine the tax treatment.
What directors should receive each month
A minimum pack should include the trial balance, profit and loss, balance sheet, aged receivables and payables, bank reconciliations, and upcoming tax payments. Files without interpretation are not a management report, so we flag material movements, cash requirements, and decisions needed before the next close.
Directors remain responsible for ensuring records are kept and documents are supplied even when an external firm is engaged. The engagement should therefore name the data owner, cut-off date, tax-return approver, archive method, and the process for handing over the ledger when the engagement ends.
Work that normally needs separate scoping
A recurring fee should not be assumed to include rebuilding several prior years, special audits, transfer pricing, tax refunds, or responses to an official enquiry. Those matters need separate scoping by period, evidence quality, and risk because they require different records and professional oversight.
Cost structure: government fees vs professional fees
| Item | Official fee | Professional fee | Note |
|---|---|---|---|
| Monthly accounting and tax | No filing fee for routine submissions | Contact our team for a quotation | Scaled by documents, headcount, and bank accounts |
| Payroll and social security | Contributions follow the wage base | Quoted by employee count | Joiners, leavers, and payslips when included |
| Year-end close and audit liaison | Late filing can trigger statutory penalties | Quoted separately from monthly work | Confirm the scope before year end |
When to act, and when waiting is fine
You use several collection accounts or trade internationally
Set reconciliation and contract evidence rules in month one
The business has very few transactions and directors can maintain records
Build the document system first and reassess as volume grows
FAQ
Frequently asked questions
What happens if this month's paperwork arrives late?
We still file on the deadline using what we have and adjust in the next period. If a critical document is missing and the return cannot go in, surcharges fall on the company, so we send a reminder five days ahead every month.
Can the English report be used for government filings?
No. Authorities accept only the prescribed Thai set. Our English pack is a management version for shareholders and the parent, with every figure tied line by line to what was filed.
Can we switch accounting firms mid-year?
Yes, and it is routine. From the outgoing bookkeeper you need the document file, the latest trial balance, the asset register, and the e-filing credentials. We issue the handover request and verify completeness before our first period.
Does a company with no revenue still need bookkeeping?
Yes. A registered company must keep books, close accounts, and file even with no trading activity. Leaving it dormant on paper only invites penalties and, eventually, strike-off proceedings.
Does the fee include handling a Revenue Department query?
Answering routine written queries is included. A full audit defence or an assessment dispute is quoted separately because it pulls in the tax litigation team.
How is our financial data protected?
Files sit in a permissioned system with access logging, the team signs confidentiality undertakings, and transfers use expiring links rather than plain email attachments.
Can accounting records be submitted as phone photos?
Clear, complete images can start the workflow, but originals or verifiable electronic records still need to be retained according to the document type and applicable rules.
Can we change accounting firms mid-year?
Yes. Handover should include the trial balance, ledgers, filed returns and receipts, bank reconciliations, asset register, and open-item schedules so the new firm does not inherit unsupported balances.
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Company Registration in Thailand for Foreign Shareholders
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Written by: Thai Law & Accounting Services — attorneys and licensed accountants
Professional review: A lawyer must review the applicable law and facts before use in a real matter. This notice does not establish that this page has been reviewed or certified by a lawyer.
Last updated: 2026-08
Information as of August 2026. Government fees and processing times change — verify with the relevant agency before acting, or let our team verify for you.