Upon company bank account opening, most thai banks (if not all) will open a current account (in order to get a cheque book) linked to a savings account (in order to get interests). The current account being refilled automatically with funds from savings account when needed (subject to small fee).

My understanding is that the current account should be used to pay suppliers/providers/staff and the savings account to encash payments from clients, however is it ok to both pay/cash invoices using only the savings account?

Consequently, is it possible to open only a savings account if the company does not use cheques as payment method?

Yes - what you propose is routinely possible.

Cheers!
MS

Yes - what you propose is routinely possible.

Cheers!

MS

Thanks for your confirmation maisodni.

Side question: if an employee pays for the company an invoice issued in USD (or any foreign currency), how to reimburse in THB this person (which exchange rate applies?) and how to register the transactions in term of accounting?