Monthly Accounting Checklist for Thai Businesses
A practical checklist of the accounting and compliance tasks your business should complete every month — whether you manage accounting in-house or work with a provider.
Staying on top of your monthly accounting prevents problems from compounding and keeps your business compliant. Here is a practical checklist of the key tasks that should be completed each month.
Bookkeeping and Recording
Record all business transactions for the month — sales, purchases, expenses, and bank deposits.
Match all receipts and invoices to bank transactions.
Reconcile your bank accounts and ensure your accounting records match your actual bank statements.
Review accounts payable (amounts you owe suppliers) and accounts receivable (amounts clients owe you).
Tax Filing
Prepare and file your monthly VAT return (PP.30) if you are VAT-registered. Deadline: 15th of the following month (23rd for e-filing).
Prepare and file withholding tax returns (PND.1, PND.3, PND.53) for any payments made during the month. Deadline: 7th of the following month (15th for e-filing).
Issue WHT certificates to service providers from whom you withheld tax.
File social security contributions (SSO) for all employees. Deadline: 15th of the following month.
Financial Review
Prepare (or receive from your accountant) your monthly profit and loss statement.
Review your cash position and bank balance.
Check your expense categories against budget.
Identify any unusual transactions or balances that need explanation.
Document Management
Store all original receipts, invoices, and tax documents for the month. Thai law requires businesses to retain accounting documents for at least five years.
Confirm that all documents have been shared with your accountant if you use an external provider.
A Note on Working with Your Accountant
If you use a managed accounting service like PNM, most of these tasks are handled by your accountant. Your main responsibility is to share relevant documents promptly and respond to document requests through the Client Portal. The faster you provide information, the faster your accountant can complete the monthly work.
Note: This article is for general information only and does not constitute tax or legal advice. Thai tax law changes periodically — consult a qualified accountant for advice specific to your situation.