Monthly Bookkeeping
ทำบัญชีรายเดือน (Bookkeeping) · § Bookkeeping
Quick Answer
End-to-end monthly books: journal entries, PP.30 (VAT), PND.1/3/53 (WHT), bank reconciliation, monthly P&L delivered by 15th of following month — from THB 3,500/month (≤ 30 entries).
Timeline: Monthly · books closed by 15th · tax filings due 7–15th · quarterly P&L review
Official fee: No government filing fee. Late-filing penalties: PP.30 THB 500/form + 1.5%/month interest; PND.1 late THB 200 + surcharge.
Legal Basis
Accounting Act B.E. 2543 §8, §11 — Thai Limited Companies must keep books per TFAC (NPAEs or PAEs) and retain records 5 years. Revenue Code §82/6, 83, 85 (VAT), §3-Terrs (WHT).
Who Needs This
SMEs · startups · foreign-owned entities · e-commerce sellers · incorporated freelancers · BOI/FBL companies with annual filings.
Required Documents
- Original purchase & sales tax invoices
- Bank statements — all accounts
- Payroll slips + expense receipts
- E-commerce reports (Shopee/Lazada/Line MyShop)
- Service contracts + PO/invoices
Common Pitfalls
- Tax invoice missing any of 8 required elements → VAT input credit denied
- Skipping 3% WHT on services → company liable + 100% surcharge
- Mixing personal & corporate bank accounts → RD may disallow expenses
- Not filing zero-transaction PP.30 → THB 500 fine
Typical Use-cases
- Startup — first 6 months post-incorporation
- E-commerce store on Shopee/Lazada with THB 300K+/month
- Foreign representative office / regional HQ
- Freelancer using a company to invoice corporate clients
FAQ
- In-house vs outsourced — which is right?
- In-house makes sense at 200+ entries/month. Outsource wins under 100 entries (saves salary + SSO + benefits of THB 40,000+/month). We include CPA + accountant + assistant in one price.
- Which accounting software?
- FlowAccount, PEAK, Express, or Xero — client's choice. If none, we recommend FlowAccount (from THB 199/month) — e-Tax ready.
- When is e-Tax Invoice mandatory?
- Mandatory from 1 Jan 2025 for companies with revenue > THB 30M/year. Below that, optional (but earns 200% capex tax deduction).
- Haven't filed for 3 months — how to fix?
- File retroactively at once. Surcharge 1.5%/month + THB 500/form. Filing before RD audit halves penalties. We handle remediation and RD negotiations.
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Official sources — accounting, tax, social security
The information on this page follows the official sources below. Always check the latest version before you file.
- กรมสรรพากร — ประมวลรัษฎากร ภาษีเงินได้ VAT— Revenue Department
- สำนักงานประกันสังคม— Social Security Office
- กรมพัฒนาธุรกิจการค้า — จดทะเบียนนิติบุคคล— Department of Business Development
- สำนักงานคณะกรรมการกฤษฎีกา — ฐานข้อมูลกฎหมายไทย— Office of the Council of State
- สำนักงานคณะกรรมการส่งเสริมการลงทุน (BOI) / LTR Visa— Thailand Board of Investment
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Frequently asked questions
- Can a foreigner own 100% of a Thai company?
- Generally no for activities listed in the Foreign Business Act, where majority foreign ownership requires a Foreign Business Licence, a BOI promotion, or treaty rights such as the US–Thailand Treaty of Amity. Manufacturing and certain export activities are largely open, and BOI-promoted activities can permit full foreign ownership together with land-holding and visa privileges, so the right structure depends on the specific activity.
- What is the minimum registered capital for a Thai company?
- There is no general statutory minimum for a Thai-majority company, but practical thresholds apply: THB 2 million of paid-up registered capital per foreign work permit, or THB 1 million if the foreigner is married to a Thai national, and THB 3 million per foreign shareholder for a Foreign Business Licence. Capital should therefore be planned around the visa and work-permit outcome you need, not the incorporation minimum.
- How long does company registration take?
- Registration at the Department of Business Development can be completed within one to three working days once the name reservation, shareholder documents and company objectives are ready, and the VAT registration and social security registration follow afterwards. The realistic end-to-end timeline including bank account opening is two to six weeks, with the bank account usually being the slowest step for foreign directors.
- What ongoing accounting obligations does a Thai company have?
- Every Thai company must keep statutory accounts, file monthly withholding tax (PND 1, 3, 53) and VAT (PP 30) returns by the middle of the following month, file the half-year corporate income tax return (PND 51) and the annual return (PND 50), and have its financial statements audited by a Thai CPA and filed with the DBD each year. Dormant companies are not exempt — nil returns and an audited statement are still required.