Paul Hype Page (Indonesia) - Company Registration Logo

Indonesia’s Leading Accounting Firm

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Accounting 22023-08-17T12:03:48+08:00

Key Note

As a top accounting firm, we strive to empower businesses with accurate financial information and insights that drive informed decision-making. Whether you require assistance with bookkeeping, financial statement preparation, or tax compliance, we are committed to providing tailored solutions that meet your specific needs. By entrusting your accounting responsibilities to us, you can focus on your core business operations with the confidence that your financial matters are in capable hands.

Indonesia Accounting Services

Our accounting services follow the accounting standards set forth in the Limited Liability Company Law and the Tax laws of Indonesia. It is important to note that accounting goes beyond mere bookkeeping and encompasses a comprehensive system that ensures compliance with regulatory requirements.

By engaging our accounting services, you can benefit from a range of specialised services tailored to meet your specific needs. Some of the common accounting services we offer in Indonesia include:

Cash Flow & Working Capital Analysis

We assist small and medium enterprises (SMEs) in identifying, assessing, and addressing any gaps in their working capital management and cash flow. By providing insightful analysis, we help optimise financial resources and improve overall operational efficiency.

Account Consolidation Services & Financial Statements

Through our account consolidation services, we empower company shareholders with a clear understanding of the company’s current financial status. We prepare consolidated financial statements that provide a comprehensive overview of the financial performance and position of the business.

Management Reports & Accounts

Our team prepares accurate and timely management reports and accounts that offer valuable financial and statistical information. These reports enable managers to make informed day-to-day and short-term decisions, contributing to effective business planning and execution.

Financial Planning & Budgeting

We assist SMEs in structuring and implementing proper financial planning and budgeting practices. By aligning financial resources with strategic objectives, we help businesses optimize resource allocation and achieve their financial goals.

In addition to these core services, we offer a range of other accounting services to support your business needs. These include filing annual returns, payroll tax reporting, compilation of accounts for dissolution or tax clearance purposes, advisory services, setting up proper accounting systems, auditing, taxation, and accounting solutions. We can provide partial or full accounting services, periodic financial statement preparation, tax filing, and tax computation.

Hiring an Accountant in Indonesia

While hiring an accountant in Indonesia can provide numerous benefits, it’s important to consider the potential disadvantages as well. Here are some drawbacks to keep in mind:

Cost

One of the main disadvantages is the financial cost associated with hiring an accountant. Professional accounting services typically come with a fee, which can add to your business expenses. For small businesses or startups with limited budgets, the cost of hiring an accountant may pose a challenge.

Dependency

When you hire an accountant, you are relying on their expertise and knowledge to handle your financial matters. This can create a certain level of dependency on the accountant, as you need to trust them with your sensitive financial information. Some business owners may prefer to have more control and oversight over their finances.

Familiarity with Industry

Accountants may not always have in-depth knowledge or experience in your specific industry. This can be a disadvantage if your business operates in a specialized sector with unique accounting requirements or regulations. In such cases, finding an accountant with industry-specific expertise may be challenging.

Workflow & Timeline Schedule for Accounting in Indonesia

The table below summarizes the key elements related to the implementation of accounting processes. It includes the required implementation documents, the opening balance requirements, data verification through supporting documents, and the timeline for discussion.

Documents Description
Legal Documents
  • Enterprise Registration Certificate (ERC),
  • Investment Registration Certificate (IRC),
  • Tax Identification Number (TIN) for online access
  • E-signature for tax report lodgment
  • Deed of Establishment
Opening Balance
  • The previous year’s financial statement
  • Trial balance, and tax reports, along with the financial statement and trial balance from January to the previous monthly period (if applicable)
  • A comprehensive list of fixed assets, including tools, equipment, and instruments with historical cost and accumulated depreciation
  • Subsidiary details for Accounts Receivable (AR) and Accounts Payable (AP)
  • Accrual and amortization schedule
Data Verification
  • Bank statements
  • Cash books (cash reports)
  • e-invoices (output invoices)
  • Expense documents (input e-invoices, receipts, payment vouchers, transfer slips)
  • Internal memos

The discussion process follows a specific timeline.

  • Data requests are made by the 2nd of the following month to collect the necessary financial data.
  • Data revision, if required, should be completed by the 8th of the following month to ensure accuracy.
  • Finally, on the 25th of the next month, Paul Hype Page provides the draft of the Financial Statement for review and feedback.

Your Questions, Answered

We’ve picked the top questions that we get asked the most when it comes to accounting services in Indonesia.

Are there any penalties for non-compliance with accounting and tax regulations? 2023-08-16T09:29:13+08:00

Yes, failure to comply with accounting and tax regulations in Indonesia may result in penalties and fines imposed by the tax authorities. It is crucial to maintain accurate records, meet reporting deadlines, and adhere to the applicable accounting and tax requirements to avoid any penalties.

Is it mandatory for small businesses to prepare audited financial statements?2023-08-16T09:28:58+08:00

Small businesses that do not meet the criteria mentioned earlier are generally not required to have their financial statements audited. However, they are still required to maintain proper accounting records and comply with tax reporting ob

Is it mandatory for companies in Indonesia to be audited?2023-08-16T09:28:35+08:00

In accordance with the Company Law in Indonesia, limited liability companies are required to have their financial statements audited by a registered public accountant if they fulfil any of the following conditions:

Companies with total assets surpassing 50 billion rupiah (equivalent to US$3.36 million).

Publicly listed companies.

Companies that issue debt instruments.

Specific categories of state-owned enterprises.

Companies involved in the collection or management of public funds, such as banks and insurance companies.

What is the role of an auditor in the accounting process?2023-08-16T09:26:08+08:00

An auditor plays a crucial role in verifying and assessing the accuracy and reliability of a company’s financial statements. They conduct an independent examination of the financial records, assess internal controls, and provide an audit opinion to enhance the credibility and transparency of the financial information

What is the deadline for filing financial statements in Indonesia?2023-08-16T09:25:46+08:00

The financial statements must be prepared and filed within four months after the end of the company’s fiscal year. For example, if the fiscal year ends on December 31st, the financial statements must be submitted by April 30th of the following year.

How often should financial statements be prepared and submitted in Indonesia?2023-08-16T09:25:29+08:00

Financial statements should be prepared at least once a year and submitted to the relevant authorities, such as the Ministry of Finance or the Indonesian Financial Services Authority (OJK), depending on the company’s size and industry.

What are the requirements for maintaining accounting records in Indonesia?2023-08-16T09:25:16+08:00

All companies in Indonesia are required to maintain proper accounting records, including ledgers, journals, financial statements, and supporting documents.

Apa saja standar akuntansi yang digunakan di Indonesia?2022-07-15T10:51:52+08:00

Standar akuntansi di Indonesia adalah Standar Akuntansi Keuangan (SAK).

Apakah Indonesia menggunakan IFRS?2022-07-15T10:51:37+08:00

Indonesia belum mengadopsi standar IFRS untuk pelaporan oleh perusahaan domestik.

Seberapa sering saya harus melakukan pembukuan saya?2022-07-15T10:51:17+08:00

Tergantung pada volume aktivitas Anda, beberapa perusahaan melakukan akuntansi harian, mingguan, bulanan atau bahkan tahunan. Selama akhir tahun buku perusahaan, ada akurasi yang wajar dicapai dalam menyusun akun untuk pelaporan pajak yang akurat.

Apakah akuntan profesional diperlukan untuk bisnis?2022-07-15T10:51:04+08:00

Sangat dianjurkan bagi setiap bisnis untuk memiliki akuntan profesional untuk mematuhi kepatuhan tahunan dan menghindari hukuman.

Apa sanksi jika tidak melewati batas waktu penyampaian Laporan Keuangan Tahunan di Indonesia?2022-07-15T10:50:47+08:00

Perusahaan yang tidak menyampaikan Laporan Keuangan Tahunan melalui portal Kementerian Perdagangan dapat mengalami konsekuensi sebagai berikut:

  • Peringatan tertulis
  • Pencabutan izin usaha dan/atau operasional perusahaan atau izin komersial
  • Rekomendasi pencabutan izin usaha dan/atau operasional perusahaan atau izin niaga

Peringatan harus dikirim dalam waktu 14 hari, hingga 3 kali.

Apakah Bali bebas pajak?2022-06-07T17:07:21+08:00

Tidak ada pajak atas modal atau aset, selain pajak bumi dan bangunan. 

Bagaimana cara mengajukan pengembalian pajak di Indonesia?2022-06-07T17:08:06+08:00

Wajib pajak orang pribadi dapat menyampaikan SPT tahunan melalui sistem e-filing yang disediakan oleh Kantor Pelayanan Pajak Indonesia (KPP). Mulai tahun 2013, DJP aktif mendorong perusahaan untuk melakukan pendaftaran kolektif bagi pegawainya untuk mempermudah pendaftaran e-filing. 

Berapa pajak yang Anda bayarkan di Indonesia?2022-06-07T17:08:19+08:00

Wajib Pajak luar negeri dikenakan pajak dengan tarif tetap sebesar 20% atas semua penghasilan yang berasal dari Indonesia. Jika individu penduduk tidak memiliki Nomor Pokok Wajib Pajak, tarif pajak untuk pemotongan pajak atas penghasilan pekerjaan dinaikkan sebesar 20%. Akibatnya, tarif berkisar dari 6% hingga 36%. 

Apa perbedaan utama antara Standar Akuntansi keuangan psak Indonesia dan pelaporan interim IFRS?2022-06-07T17:08:33+08:00

IFRS 17 menggantikan IFRS 4. perbedaan yang dicatat adalah sebagai berikut: PSAK 1 mendefinisikan bahwa IFAS terdiri dari Pernyataan Standar Akuntansi Keuangan, interpretasinya dan aturan pelaporan keuangan yang dikeluarkan oleh otoritas pasar modal. IAS 1 tidak termasuk yang terakhir. 

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Why Outsource Your Accounting Function

Outsourcing your accounting services in Indonesia offers numerous advantages for your growing business. The complexities of managing financial information and the risk of overlooking errors can be mitigated by entrusting this function to experienced accountants in Paul Hype Page.

COST EFFECTIVE, PAY LESS

Instead of hiring full-time employees, you can redirect those financial resources towards business growth. Engaging accounting services provides you with “instant employees” who are already well-equipped with the necessary skills, eliminating the need for recruiting and training.

DRIVE CORE BUSINESS FUNCTIONS

Outsourcing also relieves you of the burden of meeting deadlines associated with financial reporting. By entrusting these tasks to professionals, you can focus your time and energy on other crucial aspects of your business, such as strategy and growth.

ACCURATE, TIMELY FINANCIAL REPORTING

In-house accountants might find it easier to manipulate numbers in order to make them appear more favorable to individual companies.

On the other hand, while outsourcing accounting services, the accountants will be overseeing all reports not directly related to the information, minimizing the chances of fraud.

STAY UPDATED WITH LATEST REGULATIONS

Stay assured that compliance with Indonesian laws will be met, as the experts entrusted are updated with the latest regulations and legislation relating to accounting.

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To incorporate a company in Indonesia, you must appoint at least one director and one commissioner. The director manages daily operations and makes critical business decisions, while the commissioner provides oversight, ensuring the company complies with Indonesian laws. Both roles are mandatory for legal incorporation, and they work together to ensure the smooth functioning of the business.

The director must be qualified and, in some cases, meet residency requirements, especially for foreign-owned companies. The commissioner, though not involved in daily management, is responsible for guiding the company towards compliance and proper governance.

Opening a corporate bank account is essential when incorporating a company in Indonesia. After incorporation, you must deposit your paid-up capital into this account. Once your company is officially registered, you can start operating as a legal entity. However, there are additional steps to complete:

Within 30 days, you must submit the labor report and other required documents to the Ministry of Labor. Additionally, you must enroll your employees in Indonesia’s social security programs, which cover workplace accidents, retirement, pension, and death benefits. It’s also mandatory to secure healthcare and employee welfare insurance through the Badan Penyelenggara Jaminan Sosial (BPJS).

Essential Work Visas for Foreigners Relocating to Indonesia

Work KITAS (Limited Stay Work Permit)
The Work KITAS allows foreign employees to legally live and work in Indonesia. It is sponsored by the employing company and valid for the length of the employment contract.

Single-Entry Business Visa
Ideal for short-term business visits, this visa is valid for 60 days and can be extended, allowing up to 180 days in total. It’s perfect for attending meetings, conferences, or business events.

Multiple-Entry Business Visa
Designed for frequent business travelers, this visa allows multiple entries within a one-year period, offering flexibility to manage ongoing business operations in Indonesia.

Employment Pass Requirements
The requirements for an Employment Pass in Indonesia may vary depending on the specific job and industry. However, the common requirements include having a valid passport, an employment contract with a sponsoring company, relevant educational qualifications, and work experience. Additionally, the company must provide a sponsorship letter, and a medical check-up is often required to confirm the applicant’s health status before the work visa is granted.

The requirements for registering a company in Indonesia are simple and straightforward. They are:

Appoint a Director

Every company in Indonesia requires at least one director to handle day-to-day operations and make crucial business decisions. The director must meet all legal qualifications.

Minimum of Two Shareholders

To register a company, you need at least two shareholders. Shareholders can be individuals or legal entities, and they hold ownership stakes in the company. For foreign-owned companies (PT PMA), additional requirements for shareholder nationality or residency may apply.

Commissioner Role

A commissioner ensures compliance with Indonesian laws and provides oversight to the company’s operations. The commissioner supervises the director and provides strategic guidance to shareholders.

Investment Value for PT PMA Companies

Foreign-owned companies (PT PMA) must meet a minimum investment requirement based on the business type and company size. This is crucial for proceeding with registration and ensuring compliance with local regulations.

Registered Office Address

A legal business address is required for official communications. This can be a physical office or a virtual address, depending on your company’s needs and local policies.

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Contact Info

Menara Palma #05-02B, Jln HR Rasuna Said Blok X2 No.KAV 6, Kuningan, Jakarta Selatan 12950, Indonesia

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