Accounts that need to be Prepared
1. Ordinary person or partnership
that is not registered to conduct businesses as the manufacturers, sellers,
persons who own the products for sale, importers or exporters of the cassette
tape, VDO and CD must prepare product accounts from the date that the businesses
2. The limited partnership,
juristic ordinary partnership, company limited, public company limited,
juristic person established according to the foreign law and conducting
the businesses in Thailand, and joint venture according to taxation code
must prepare the following account. 2.1 Journal
(1) Cash Journal
(2) Bank Journal (classifying into each bank account number)
(3) Purchasing Journal
(4) Sales Journal
(5) General Journal 2.2 Ledger
(1) Asset, Debt and Capital ledger
(2) Income and expense ledger
(3) Accounts Receivable ledger
(4) Accounts Payable ledger
3. Inventory Account
4. Journal, ledger of other types and sub-ledger according to the needs
to prepare accounting for the businesses
Procedure for the Account Posting
1. Post the account in Thai language
or foreign language but must have Thai language or may post the account
in account code but must have the translation into Thai language.
2. Must post account in ink, print, publish or use other approach that leads
to the same outcome.
3. Must have attachments or documents that demonstrate the accuracy, reliability
and completeness of the accounting transactions
4. Transactions in the account must be in Thai Baht currency.
Attachments / Documents for Account Posting
The attachments / documents used for posting means records, letters, or
any documents that are the evidence for account posting can be classified
into 3 types as follows :
1. Documents prepared by outsiders
2. Documents prepared by accountants in order to be issued to outsiders
3. Documents prepared by accountants in order to be used in the business
The documents must have statements and transactions as specified.
Posting the transactions onto the Journal and Inventory must
1. Have the documents for
every transaction and such documents must be able to demonstrate the accuracy,
reliability, and completeness of every transaction according to the fact.
2. Have documents in the first or second item, depending on the case, except
there are no first or second item, shall use third item.