Outsourced Accounting Services


Our team of experienced accounting specialists makes sure that your financial documents are up-to-date and conform to Thai rules and regulations, so you can manage your business without any worries.

Accounting Executive

Meeting your accounting requirements in an accurate and timely manner is important in running a Thailand business. Keeping your accounting records up to date and compliant with Thai Accounting Regulations reflect a business that is properly and legally managed, as it strictly adheres to Thai business regulations and lessens its risk of being slapped with fines and penalties by local authorities. Reliance Consulting is a Thai accounting firm who prepares Financial Statements in conformity with the Thai Financial Reporting Standards (TFRS) and the Thai tax laws.

In addition, keeping your accounting documents accurate helps you manage a more stable business that is ready to face any challenges ahead of time. With an updated financial information, your business will be able to quickly respond to any issues, without having to second-guess the financial position or sustainability of your company. You, as a business owner, will be more than confident in whatever decision you need to make for your company’s growth, as you have within your reach reliable and updated financial information that you can refer to anytime.

Outsourcing your accounting needs to Reliance Consulting is a smart way to manage your business financial information more efficiently. Partnering with a professional service provider specialising in handling accounting records allows you to timely comply with your compliance requirements and enables you to operate your business with ease.

WHY OUTSOURCE YOUR ACCOUNTING?


Instead of hiring an in-house accounting personnel, you can turn to Reliance Consulting to perform your accounting function. Our accountants are properly trained and speak fluent English oversee your accounts. Experience the following benefits when you engaged our outsourced accounting services.

Expert Accounting

You can expect accurate and up-to-date financial reporting that is provided to you in a timely manner to meet your compliance requirements on time. As your accounting needs are handled by qualified accounti2ng professionals, you can rest assured that your financial reports adhere to Thailand’s regulatory requirements.

 

Cost-effective

There is no need to pay for monthly salaries of accounting staff or even acquire pricey accounting software, as you have a professional firm that provides fixed-cost accounting services.

 

Saves Time and effort

You can focus better on running your business when you have a reliable accounting firm to take care of your financial documents in a professional manner. You can allot your time and effort on things that boost business growth like planning business strategies or improving your marketing campaigns.

OUR CORE COMPETENCY - A TEAM BASED MODEL


Teamwork

Have a team of trained staff and qualified accountant on demand for your business - Ready to go from Day One.


  • Experienced staff with the skill level of a senior accountant from day one
  • An independent and competent team that does not require your training or management
  • Thorough working knowledge and understanding of Companies Acts and Income Tax Acts
  • Consistent excellent service from well-trained staff
  • Flexibility in resources to provide on demand services
  • No commitment during off-peak times
  • Senior accounting team overseeing the work
  • Fixed cost per job or percentage of fee (for additional service request)
  • Assistance in creating new business processes

SOFTWARE SPECIALISTS WHOM WE WORK WITH


ACCPAC logo
Auto Count logo
Oracle JD Edwards logo
OBM logo
Navison logo
XERO logo
Business Plus Accounting logo
Express logo
MYOB logo
QuickBook logo

WHY CHOOSE RELIANCE CONSULTING FOR YOUR ACCOUNTING NEEDS?


The accounting function needs a keen eye for detail to handle several requirements that should be accounted and paid for on a monthly basis. There’s the preparation, submission, and payment of VAT and withholding tax documents and financial statements that need to be thoroughly reviewed and verified by a licensed accountant.

On top of these tasks, all these documents should be signed and approved by required signatories during the Annual Shareholders’ Meeting within four months upon closing the accounting year, before being sent off to the Revenue Department and the Commercial Registrar within one month to meet compliance requirements and avoid the fine that may amount to 200,000 baht for failure to comply. In addition, there’s a need to be mindful when keeping accounts and company documents, as these have to be kept safely for at least five years at the registered business address of the company.

With so many responsibilities to take care of, the accounting function should be handled by an accounting expert with unparalleled experience in overseeing financial documents. Reliance Consulting is the partner you can trust in handling your accounts to efficiently manage your business in Thailand.

Reliance Consulting has:

  • Unparalleled industry experience
    We boast expertise and experience to keep your financial records up-to-date and fully compliant for accounting and tax purposes. We ensure proper documentation of all relevant financial statements, as well as handle your accounting entries and tax returns for filing.
  • Competent specialists
    We have a team of highly qualified Thai CPAs who can speak fluent English and is accredited to sign off your accounts in compliance with the Thai Accounting Regulations.
  • A working knowledge and thorough understanding of Thai laws
    We believe in being partners with our clients to ensure their success. It is for this reason that we keep ourselves updated with all the relevant tax laws to ensure that financial statements are always updated, conforms with the Thai Financial Reporting Standards, and strictly adheres to local regulations.

Whether you’re a local startup looking to stabilise your business or a foreign company that wants to ensure smooth-sailing operations, Reliance Consulting provides a comprehensive range of accounting services in Bangkok to make sure that your business meets all your accounting requirements and fully complies with local tax laws:

  • Set-up of accounting system
  • Set-up of bank account
  • Preparation of cheque and payment transfers
  • Monthly recording of accounting transactions
  • Preparation and submission of monthly financial reports, including Balance Sheet, Profit and Loss Statement, Bank Reconciliations, Customers Aging Report, Suppliers Aging Report, Journal, General Ledger, Supporting Accounting Schedules, etc.
  • Monthly reporting of VAT (PP30, 36) and withholding tax (PND 1, 3, 53, 54)
  • Preparation of annual audited financial statements
  • Calculation of statutory tax, mid-year tax return (PND51) and year-end tax (PND 50) filings

 

COMPETITIVELY PRICED OUTSOURCED ACCOUNTING SERVICES


Reliance Consulting offers fixed-price outsourced accounting, which lets you manage your cash flow more efficiently without having to deal with hidden charges and any other costs. We also provide customised accounting packages to give clients more flexibility when handling their operations costs.

Package
A
B
C
D
E
F
G
Monthly Fee per package (THB)
12,000
20,000
28,000
35,000
50,000
60,000
70,000
Maximum Transaction per month
30
60
90
120
200
250
300
Additional transaction shall be charge at (THB)/bill
300
300
300
300
300
300
300
Details of work
1.1 - Accounting services based on Thai accounting standard and Thai Tax laws regarding to the preparation of accounting and filing Tax form.

1.2 - Preparation of monthly accounting required by Thai law and monthly financial reports such as:-

Balance sheet and detailing of assets and liabilities

Income statement and detailing of revenues and expenses

Bank account reconciliation

Aging schedule of accounts receivable and accounts payable

Fixed assets and depreciation registration

1.3 - Preparation and filing of monthly Tax form for withholding tax and VAT to Thai revenue Department as followings:

PND 1 for employees,

PND 3 for personal,

PND 53 for corporate,

PND 54 for money transferred abroad,

PP 30 for monthly vat report, and

PP 36 for money transferred abroad

Remark: Number of monthly accounting transactions will be counted base on sales, purchases, receipts, expenses, payroll and journal transactions.

Contact Us Today for No Obligation Discussion and Quote
CONTACT US

Case Studies


Example - Cost of Employing Full Time Senior Accountant and Finance Manager

Senior AccountantFinance Manager
BahtBaht
Basic salary60,000150,000
Social Security 5%750750
1 month Bonus pro-rated5,00012,500
12 days annual leave2,7696,923
Medical & personal accident insurance premium1,2002,000
 Staff cost per month69,719172,173
Our Fees28,00070,000
Savings per month41,719102,173
Savings Per Year500,6281,226,076
Savings %60%59%

All Our Packages Include


24/5 Support

24/5 e-mail support, phone support from 9am to 6pm

Financial Reports

Inludes balance sheet, income statement, bank reconciliation statement, debtors aging report, creditors aging report, accounting schedules, actual vs budget and more!

Assigned accountant

A primary point of contact which will be responsible for performing your accounts on monthly basis. You can communicate with your accountant anytime via e-mail.

Accounting Procedures

Development and maintenance of efficient and reliable accounting procedures and internal controls to facilitate 3rd party audits or reviews.

Delegation of Duties

Working with your team to implement and delegate responsibilities.

Accounting Software

Use of your existing accounting software or the migration to a new accounting software or using our in-house accounting software.

Monthly Review

Review of all accounts for accuracy by your dedicated accountant or director for decision making.

Chart of Accounts

Design and implementation of a custom chart of accounts or improvement of an existing one to aid with internal budgeting/ monitoring and provide reliable insight for investors and management.

Dedicated Accounts Manager

A dedicated accounts manager that will be responsible for reviewing your financials on a monthly basis to make sure they are accurate and up to date. You can communicate with your assigned accounts manager anytime via phone or e-mail.

Monthly closing of accounts

Dedicated for monthly closing of accounts and deliver the reports by the 15th of the month.