Accounting cost for small companies ?

[JohnnyBKK]

Hello,

 

I have a few questions about accounting in Thailand.

I'm very surprised by the bill sent by an accountant I went to ask a quotation for last week.

First of all, I asked for the price of their services and I haven't agreed to anything by writing at any moment, they took my documents and said they would give me a quote in a few days. Then a few days later they told me they already did the work and submitted our VAT report and withholding tax and are asking for 40,000 THB for the month of september, as follows (see below).

 

Then now they tell me that their service fee is 17,000 THB per month for accounting, VAT and withholding tax up to 10 transactions per month.

 

I do not want nor wish to name this accounting firm, I only want advices on the cost of the accounting, is this a normal fee ? Plus they charge for many other things in the year (audits, etc). The total accounting price I calculated is 252,000 THB per year for a company with less than 5 transactions per month, we had 10 in September because we bought a lot of stuff.

 

Our company is new and can't afford to pay 252,000 THB in accounting fees per year, any advice anyone ? Also this price doesn't include payrolls or anything like that...

 

Last question, do I have to pay this bill ? Can they charge me as they want ? I went there asking for a quote and they never told me the price of their service until it was already done. On the invoice they wrote this "INVOICE / ใบแจ้งหนี้"

 

 

- Accounting fee				9,000.00
	- Filling VAT return form				4,500.00
	- Filling withholding tax forms				3,500.00
	- One time set up fee				20,000.00
	- Out of pocket (messenger)				-
	- Vat 7%				2,590.00
Add: Reimburse government fee and other expenses;
	- Withholding tax (PND.53) (July & August)				353.95
	- Penalty of Witholding tax (PND.53) (Surcharge 1.5% per month)				9.81
	- Penalty of Witholding tax (PND.53) (Late submission tax form)				400.00
	- VAT return (PP.30)				-
	- Penalty of VAT return (PP.30)				-
Total					40,353.76

[blackcab]

They are taking you for a fool.

 

We pay 5,000 baht a month for everything (annual audit fees are extra).

[Stef]

I pay THB 30,000/year for VAT, WHT, etc. About 10-20 transactions/month. It is not a company just an accountant working for a big accounting company and who wants to earn extra money.  But, she only speaks Thai. 

THB 12,000 for the annual audit of your accounts.

 

[mike324]

You are being ripped off, in your case it should cost less than 10,000 per month. Our company which have hundreds of transaction we paid less than 30,000 per month.

[JohnnyBKK]

We are in the process of closing down the company, I refuse to pay such amounts for accounting.