What are you paying your accountants?

[Na Fan]

We're paying 3000 per month, and for that, well, they do basically nothing (we have to prep all the bills and expense reports ourselves).

 

On top of that, we were also lured in to pay 15'000 per year for the financial statement, which has now increased to 23'000, apparently based on the profit, which is really nothing but a rip-off.

 

What are you paying?

 

 

[Davedub]

I have two VAT registered companies and I pay almost the exact same amounts per company (3k per month + 27k per year). I only have to send scans of invoices and receipts each month, she does the rest.

 

It does feel like a lot of money for not much work.

 

I have used cheaper accounting services in the past. I became suspicious things were not getting done properly, so hired another company to check my filings. They found my accountant had not been submitting any accounts at all. I then hired lawyers who persuaded the accountant to pay my fines for late submission and engaged my current accountant.

 

I'd be interested to hear from others about what they pay, it would be useful for us all to get a clearer picture of what the industry standards are.

Edited May 19, 2021 by Davedub
Add figures

[UKJASE]

14,000 a year for balance sheet and submission of taxes

[peleid]

Never had to in England, owing to that  I am qualified bookkeeper ????

[Tuvoc]

Professional fees seem very much to be a western levels here. And a lot of variation.  Off-topic but I was asking lawyers about the cost of a will in Thai and English. Quotes ranged from 7,000 baht to 21,000 baht, the latter being from a name you will see on the forums quite often.

[peterinbangkok]

I am paying my lawyer 2000/month for making my accounts.

Every month I mail him all the documents - expense & sale bills. He then texts me the amount of tax due - VAT, PND 1 & Social Security which I transfer him & he pays it duly. VAT due is the only tax which changes monthly depending on the sale. At the year end, he does the balance sheet & charges me the auditing fees of 12000-. He informs me whenver any other tax is due, for e.g. mid term company tax, tax on company profit, etc.

In a nutshell, its 2000/month for his services & 12000 auditor fees once a year. As a check on his activities, I ask him to email me every month the copies of the tax paid. 

 

[yankee99]

6000 a month using a cpa

[Davedub]

3 hours ago, peterinbangkok said:

I am paying my lawyer 2000/month for making my accounts.

Every month I mail him all the documents - expense & sale bills. He then texts me the amount of tax due - VAT, PND 1 & Social Security which I transfer him & he pays it duly. VAT due is the only tax which changes monthly depending on the sale. At the year end, he does the balance sheet & charges me the auditing fees of 12000-. He informs me whenver any other tax is due, for e.g. mid term company tax, tax on company profit, etc.

In a nutshell, its 2000/month for his services & 12000 auditor fees once a year. As a check on his activities, I ask him to email me every month the copies of the tax paid. 

 

 

That sounds very reasonable. Could you PM me the name of your accountant?

[MarleyMarl]

I've been using the same firm for 10 years, and never any problems, they speak Thai only. It is 3,000 THB / month for the VAT, expenses etc., I think about 20k per year for the audit.

[khunPer]

On 5/11/2021 at 7:06 AM, Na Fan said:

What are you paying?

Monthly service fee of 1,000 baht, which includes paying SS only (all books are done digitally by us, and handed in once a year, all done and printed with accounts and balance sheet), so total 12,000 baht for a year.

 

Semi annual tax-report for 2,000 baht.

 

Annual balance, auditor and tax report costs 18,500 baht.

 

All together for accountant and auditor: 32.500 baht.

[charliechoc]

10 hours ago, peterinbangkok said:

I am paying my lawyer 2000/month for making my accounts.

Every month I mail him all the documents - expense & sale bills. He then texts me the amount of tax due - VAT, PND 1 & Social Security which I transfer him & he pays it duly. VAT due is the only tax which changes monthly depending on the sale. At the year end, he does the balance sheet & charges me the auditing fees of 12000-. He informs me whenver any other tax is due, for e.g. mid term company tax, tax on company profit, etc.

In a nutshell, its 2000/month for his services & 12000 auditor fees once a year. As a check on his activities, I ask him to email me every month the copies of the tax paid. 

 

see what he says when you tell him that you want to pay the tax yourself at the bank. he can just print off a bill with all your ref numbers on it. i would not let any thai pay my tax for me let alone a lawyer

[maisodni]

Here's a good description of the monthly corporate accounting services provided by the company that sponsors this website:  Scope of Monthly Corporate Accounting Services

 

They charge in the range of 3,500 to 5,500 baht per month, depending on  company's registered capital, employee headcount, and monthly amount of transactions.

 

Good luck!