Accounting Report in Thailand

A balance sheet is a financial document that states the “book value” of a company, calculated by subtracting the company’s total liabilities and equity from its total assets. At Double M, we will help make your company’s balance sheets in a few steps. First, we will determine the reporting date and period. Second, we will identify your assets. Third, we will determine your liabilities. Fourth, we will calculate your shareholders’ equity. Finally, we will add total liabilities to total shareholders’ equity and compare it to assets.

A Profit and Loss Statement is a document that states the summary of the company’s revenues, profits/losses, and expenses. This report shows how the company manages expenses and generates sales/profits. At Double M, we offer the service to make reports about: revenue, sales, cost of sales, marketing and advertising, SG&A expenses, technology/research & development, interest, taxes, and net income.

A General Ledger is defined as a set of accounts used by a company to track its financial transactions. In each account, there is a specific record consisting summaries about the assets, liabilities, equities, and revenues or expenses of the company. Through this type of accounting report, we can help you monitor your finances, assess transactions and cash flow, collect information on business reports and help prevent errors and fraud.

Bank reconciliation is a process that helps individuals and businesses ensure that their financial records match the transactions recorded by their bank. Double M ensures the accuracy of the financial records, detects and corrects any errors or irregularities, and prevents potential legal problems.

A newly-established company or partnership in Thailand should close accounts within 12 months since its registration. Thereafter, the accounts should be closed every 12 months. The performance record is to be certified by the company auditor, approved by shareholders, and filed with the Business Development Office, Thailand Ministry of Commerce, within five months of the end of the fiscal year, and with the Revenue Department, Thailand Ministry of Finance, within 150 days of the end of the fiscal year