Accounting Issues

[Na Fan]

Hello everyone

There's a bit of confusion between me, my staff and our accountant.

Now that the year-end reporting is pending, and, based on all those number, the tax calculations, things have been found to be lacking in several areas.

My questions now are:

1) How do you handle business expenses with no receipts ? For instance, if you paid a private driver 5000 Baht to drive someone across the country? Is a payment voucher signed by management to reimburse the staff who paid for it enough?

2) What if you buy something for business purposes in a shop that just refuses to give or doesn't have receipts ? Dito, payment voucher enough ?

3) In what shape or form do you get the year-end figures from your accountant ? So far I've gotten a phone call where I was stated a couple numbers. That's it. I would have expected something a bit more uhm.. professional ? What's your experience ?

Thank you for your time

Na Fan

[lassebasse]

1, The payment voucher should be enough.

2) If the shop will not issue receipts you should take your business somewhere else.

3)Of course your year-end figures should be documented on paper and contain Balance sheet, Profit & Loss ac. General ledger and list of vouchers.

[Na Fan]

Okay I assumed the vouchers should be fine.

Regarding 2) some shops just don't have any, and those things usually happen spontaneously.

Thanks for the feedback!

[onthemoon]

1.) For the driver, get a signed copy of his ID card, and deduct WHT from the amount you pay him (you can also make the official amount a bit more so that he gets as much as he wants).

2.) For the shop, get a bill (these handwritten things) and their address by stamp or their namecard. I usually just staple the namecard onto the "Cash Receipt".

3.) As mentioned already, your accountant should give you proper financial documents for checking, and then the official ones audited by a CPA. Since he is not offering this, it is a good idea to change.