Accounting
5 Red Flags in SME Accounting That Need Immediate Attention
Five red flags in SME accounting that need immediate attention, from messy records to missed tax filings, and how Thai SMEs can fix them before they escalate.
6 min read
Accounting Services
Bookkeeping in Thailand: books ready when investors ask
Monthly bookkeeping for foreign-led companies, growing SMEs, and subsidiaries of multinationals in Thailand. Accurate, TFRS-compliant records every month, from a DFK International member firm.
From THB 14,900 / month · bookkeeping and tax filings included
No commitment · Written reply within 1 business day · Published prices
85+
Countries, DFK International
FAP
Federation of Accounting Professions member
2015
Founded in Bangkok
200+
Active SME clients
The basics
What is bookkeeping?
Bookkeeping is the day-to-day recording of every financial transaction your business makes (each invoice, payment, reimbursement, and deposit) in a structured set of records.
Done properly, it gives a Thai company three things it cannot operate without: an audit trail that satisfies the Revenue Department (RD), a monthly P&L for management, and the data behind every tax return and the annual financial statements.
Bookkeeping vs. adjacent disciplines
Accounting is the broader function: preparing financial statements, applying TFRS, and setting accounting policies. Bookkeeping is the foundation it builds on.
Tax filing uses bookkeeping data to calculate and file returns (the PND forms, VAT, and withholding tax). Wrong books produce wrong tax returns.
Legal requirement
The Accounting Act B.E. 2543 requires every Thai company, registered partnership, and branch of a foreign company to keep proper accounts in the Thai language, by double entry, and to retain them for at least five years.
The question is not whether to do it, but who does it: an in-house team, a freelancer, or an accounting firm.
Not sure what you need?
Send us your monthly volume and we tell you in writing which package fits.
Transparent Pricing
Bookkeeping Services: Pricing
Monthly retainer pricing by business type and transaction volume. All prices exclude 7% VAT.
| Tier / Variant | What's included | Plizz service fee |
|---|---|---|
| SMEMost Popular | Up to 50 transactions / month. Monthly VAT, WHT and SSO filings, PND.51, Kor Tor 20 and PND.1 Kor. | THB 14,900 / month |
| Enterprise | Up to 100 transactions / month. Monthly VAT, WHT and SSO filings, PND.51, Kor Tor 20 and PND.1 Kor. | THB 20,900 / month |
| Corporate | Up to 150 transactions / month. Monthly VAT, WHT and SSO filings, PND.51, Kor Tor 20 and PND.1 Kor. | THB 26,900 / month |
| Tailor Made | 150 transactions / month or more. Monthly VAT, WHT and SSO filings, PND.51, Kor Tor 20 and PND.1 Kor. | On quote Reason for quote:150 transactions / month or more |
Most Popular
SME
Up to 50 transactions / month. Monthly VAT, WHT and SSO filings, PND.51, Kor Tor 20 and PND.1 Kor.
- Plizz service fee
- THB 14,900 / month
Enterprise
Up to 100 transactions / month. Monthly VAT, WHT and SSO filings, PND.51, Kor Tor 20 and PND.1 Kor.
- Plizz service fee
- THB 20,900 / month
Corporate
Up to 150 transactions / month. Monthly VAT, WHT and SSO filings, PND.51, Kor Tor 20 and PND.1 Kor.
- Plizz service fee
- THB 26,900 / month
Tailor Made
150 transactions / month or more. Monthly VAT, WHT and SSO filings, PND.51, Kor Tor 20 and PND.1 Kor.
- Plizz service fee
- On quote
Reason for quote:150 transactions / month or more
All Packages Include
- Monthly bookkeeping (delivered by 20th of following month)
- VAT, Withholding Tax (WHT), and Social Security (SSO) filings
- Half-year tax submission (PND 51)
- Annual Workmen Compensation Fund return (KT20)
- Annual Personal Income Tax return for staff (PND 1 Kor)
- Document archiving and 5-year retention
- 24/7 dashboard access: entries visible as processed
Optional Add-Ons
| Add-on | Fee | Notes | Add to quote |
|---|---|---|---|
| Xero implementation | THB 50,000 one-time | Chart of accounts setup, opening balances and data migration. | |
| Xero training | On quote | At the Plizz office or online. | |
| ThaiTax training | THB 5,000 / request Per hour. | At the Plizz office or online. | |
| ThaiTax subscription | THB 999 / month THB 10,789 if paid annually. | Thai tax compliance layer for Xero, per organisation. | |
| Document collection | THB 80 / month Per box per month. | Collection and storage of source documents. | |
| Receipts management | THB 1,000 / month | Sorting and grouping of receipts by supplier. | |
| Xero Subscription | THB 1,600 / month Pass-through at published Xero rate. | Plizz assists with subscription on client's behalf. | |
| Accounting Setup | THB 10,000 one-time | One-time setup fee at engagement start. | |
| Audit | Get a quote · 1 business day Reason for quote:Why: fee scoped by revenue/expenses and asset/liability transaction volume: see Annual Audit Compliance service | Quoted per engagement. Performed by partner CPA firm. | |
| Employee Annual Tax Return (PND 90/91) | THB 2,000–10,000 / request THB 2,000 for Thai nationals; THB 10,000 for foreigners (additional review of foreign-sourced income). | Per employee filing. |
Xero implementation
THB 50,000 one-time
Chart of accounts setup, opening balances and data migration.
Xero training
On quote
At the Plizz office or online.
ThaiTax training
THB 5,000 / request
Per hour.
At the Plizz office or online.
ThaiTax subscription
THB 999 / month
THB 10,789 if paid annually.
Thai tax compliance layer for Xero, per organisation.
Document collection
THB 80 / month
Per box per month.
Collection and storage of source documents.
Receipts management
THB 1,000 / month
Sorting and grouping of receipts by supplier.
Xero Subscription
THB 1,600 / month
Pass-through at published Xero rate.
Plizz assists with subscription on client's behalf.
Accounting Setup
THB 10,000 one-time
One-time setup fee at engagement start.
Audit
Get a quote · 1 business day
Reason for quote:Why: fee scoped by revenue/expenses and asset/liability transaction volume: see Annual Audit Compliance service
Quoted per engagement. Performed by partner CPA firm.
Employee Annual Tax Return (PND 90/91)
THB 2,000–10,000 / request
THB 2,000 for Thai nationals; THB 10,000 for foreigners (additional review of foreign-sourced income).
Per employee filing.
Government / Third-Party Fees
None: the monthly package covers all bundled deliverables; no government fees pass through.
Pricing Notes
- All prices exclude 7% VAT.
- Transaction count includes both income and expense entries. Crossing a tier boundary triggers a re-quote at the next monthly close.
- Accounting set-up fee (THB 10,000) applies once at engagement start.
Build your quote: Plizz confirms it within 1 business day
Estimate excludes 7% VAT and government fees. Plizz confirms your final quote within 1 business day.
Built by Plizz
ThaiTax: Thai tax documents straight from Xero
We built ThaiTax, a Xero app that turns your Xero data into input and output VAT reports for the PP 30, withholding tax certificates (50 Tawi) and PND 3 and PND 53 files. Our clients on Xero use it with their bookkeeping package, and companies that keep their own books in Xero can use it on its own.
- Xero-certified integration
- THB 999 per month per organisation
- Training THB 5,000 per hour, at our office or online
Who this is for
Who needs a bookkeeping service?
A bookkeeping firm is usually the right choice if one of these situations sounds familiar.
Foreign-led company in Thailand
No Thai-speaking finance officer who can read PND tax forms, use the RD e-Tax and e-WHT systems, and answer RD queries in Thai.
Growing SME that has outgrown its freelancer
Typical signs: "I'm not sure last month is closed," "the year-end audit took six weeks," or "I can't get a current P&L when I need it."
MNC subsidiary with group reporting deadlines
Head office expects the monthly close on day 5 or day 10. Few freelance bookkeepers can meet that deadline every month.
Preparing for fundraising or due diligence
Investors and buyers usually ask for clean monthly P&Ls, balance sheets, and bank reconciliations covering the last two years or more. Books below that standard delay deals or end them.
Manufacturer, F&B operator, or hospitality business
Cost of goods sold, inventory, and several revenue streams make these books more complex. We scope that extra work in your quote.
You probably don't need this service if…
- ·
You run a micro business with fewer than 10 transactions a month and no foreign shareholders or customers. A freelance bookkeeper will likely serve you well.
- ·
You only need a one-off set of financial statements. A single engagement costs less than a monthly retainer.
Free assessment
Not sure which segment applies to you? We review your transaction volume, business type, and compliance needs at no charge.
How It Works
Our Process
A clear, structured approach from start to finish.
Setup and chart of accounts
We design a chart of accounts that fits Thai Financial Reporting Standards (TFRS) and the way your business runs. Everything we record later builds on it.
Document collection
We set up a document workflow: a shared cloud folder or direct upload. The monthly handover is simple for your team.
Daily and weekly recording
We record every transaction by double entry and trace each one to its supporting document. Processing in daily batches catches errors early.
Monthly reconciliation and reports
We reconcile your bank accounts, prepare the trial balance, and deliver the P&L and balance sheet to your dashboard by the 20th of the following month.
Quarterly and year-end close
We complete all reconciliations, post depreciation and accruals, and hand over a final trial balance ready for the auditor and the Department of Business Development (DBD) filing.
Thai regulatory context
Why bookkeeping matters in Thailand
Three rules shape bookkeeping in Thailand more than in most countries.
Accounting Act B.E. 2543
Requires Thai-language records, double-entry accounts, and five-year document retention. An expense is tax-deductible only when original documents support it, so a missing invoice can cost you the deduction even when the expense was real.
Tax audits start from documents
RD officers trace each significant expense back to its invoice, contract, and payment record. Books without that trail lead to assessments and penalties, even when the business itself is honest.
The move to electronic tax records
The RD promotes e-Tax Invoice, e-Receipt, and e-Withholding Tax, which send records to the government electronically instead of on paper. Companies that adopt them early get a stronger audit trail; companies that wait will likely have to migrate as paper processes are phased out.
Legal framework
Accounting Act B.E. 2543: Thai-language records, double-entry accounts, 5-year retention
TFRS / TFRS for NPAEs (FAP): the accounting standards for Thai companies; most SMEs use TFRS for Non-Publicly Accountable Entities (NPAEs)
Revenue Code §§65, 65 Bis, 65 Ter: how net profit is computed on an accrual basis, conditions for deducting expenses such as depreciation and bad debts, and non-deductible expenses
Royal Decree No. 145 (B.E. 2527): maximum depreciation rates, for example permanent buildings 5% p.a., most other fixed assets 20% p.a., and computers 33⅓% p.a.
e-Tax Invoice / e-Receipt (RD): voluntary for most companies; increasingly expected by larger customers
e-Withholding Tax (e-WHT): when you pay through a participating bank, the bank deducts and reports the WHT, replacing paper certificates and much of the PND 3 / PND 53 work
What's Included
Scope of services
Six core deliverables in every Plizz bookkeeping engagement, prepared by qualified accountants and reviewed before delivery.
Transaction recording by double entry
Every transaction is recorded in the general ledger by double entry and traced to its source documents: invoices, receipts, and payment vouchers.
Bank and cash reconciliation
Bank reconciliations are completed every month. We investigate and resolve every difference, so errors and irregularities surface early.
Expense classification and revenue recognition
Every expense is classified under Thai tax law as deductible, capital (capitalized and depreciated), or non-deductible. Revenue is booked in the period it is earned.
Fixed asset register and depreciation
A register of each asset with its acquisition date, cost, accumulated depreciation, and net book value. Depreciation follows the maximum rates in Royal Decree No. 145 (B.E. 2527).
Monthly financial reports
Trial balance, P&L, and balance sheet every month, delivered by the 20th. The year-end close is faster because each month has already been reviewed.
Document retention and organization
All supporting documents are indexed and archived, digitally and on paper, for at least five years as the Accounting Act B.E. 2543 requires.
Stay Compliant
Important Deadlines & Penalties
Missing these deadlines can result in significant financial penalties.
Monthly bank reconciliation
DeadlineEnd of the month after the transaction
PenaltyAudit findings; possible tax adjustments
Monthly depreciation recording
DeadlineEnd of each month
PenaltyInaccurate tax reporting; overstated asset values
Fixed asset register maintenance
DeadlineOngoing (monthly reconciliation)
PenaltyFailed fixed asset audit; depreciation disputes
Document retention (5 years)
DeadlineAt least 5 years from the account closing date (Accounting Act B.E. 2543)
PenaltyFines under the Accounting Act; deductions at risk in a tax assessment
Year-end trial balance
DeadlineWithin 60 days of year-end, so the audit and AGM fit the 4-month window
PenaltyLate audit; financial statements not approved at the AGM within 4 months or filed with DBD within 1 month after it
Why Plizz
Why choose Plizz for bookkeeping
Your bookkeeping is done by Plizz, the Thai member firm of DFK International, an accounting and advisory network in 85+ countries. Two operating CFOs founded Plizz in Bangkok in 2015, with more than 20 years of combined finance leadership across Southeast Asia, South Asia, the Middle East, and Africa.
DFK
International network,
85+ countries
FAP
Federation of
Accounting Professions
IR Global
Narai Partners,
legal network member
2015
Founded in Bangkok,
10+ years operating
CFO-led judgment, not just data entry
Bookkeeping is the foundation. Its value comes from how a finance leader reads it: variances, trends, and tax efficiency. Our reviews check what the entries mean for your business, not only that they balance.
One group for accounting, legal, payroll, and immigration
Plizz Group has three affiliated firms: Plizz (Thailand) for accounting and tax, Narai Partners (IR Global member) for legal work, and Bangkok Business Club for employer-of-record and visa services. When a bookkeeping question becomes a legal or HR question, the same group stays accountable.
DFK International access for cross-border clients
Subsidiaries that report to a parent company in another DFK country work to a standard known across 85+ countries. Cross-border tax structuring, intercompany pricing, and group reporting are routine work for us.
Common Questions
Frequently Asked Questions
Answers to the most common questions before and during engagement.
Explore More
Related Services
After bookkeeping, most clients add one or more of these services, all run by the same team.
Starting a company?
Incorporate with Plizz and keep clean books from day one
Company registration is one fixed fee of THB 50,000, and monthly bookkeeping with the same group starts from THB 14,900/month. One team from incorporation to your first monthly close.
Tax Filing & Compliance
Your books feed the monthly VAT and withholding tax (WHT) returns, the half-year PND 51, and the annual PND 50, all handled by the same team.
Learn more
Financial Reporting
Financial statements and KPI reports for management or head office, built on the same bookkeeping records with no re-keying.
Learn more
Treasury Management
Supplier payments and daily cash position, run from the same records as your books. One source of data, no reconciliation gaps.
Learn more
AP/AR Management
Close tracking of what you owe and what you are owed, so customers pay sooner and suppliers are paid on time.
Learn more
Annual Audit Compliance
Clean monthly books cut audit time and cost. Our partner CPA firm performs the statutory audit and quotes it separately.
Learn more
Payroll Services
Payroll and bookkeeping in one workflow: payslips, PND 1, and Social Security Office (SSO) filings, with no reconciliation between teams.
Learn more
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Build your quote from the packages above, or send us your question. We review your situation, recommend a package, and confirm your quote in writing within 1 business day. No sales pitch, just straight advice.
No commitment · Reply within 1 business day
Why clients trust us
Thai member firm of DFK International, a network in 85+ countries
Member of the Federation of Accounting Professions (FAP)
Founded in 2015: 10+ years of continuous operation in Bangkok
200+ active SME clients, served in English and Thai
Pricing
Monthly packages from THB 14,900/month
Excludes 7% VAT · One-time setup fee applies