Indonesia Accounting Services

We deliver tailored solutions to simplify and enhance your experience with professional accounting services.

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Trusted by SMEs and entrepreneurs, we specialize in providing accounting services tailored for foreign business owners in Indonesia. From bookkeeping and financial statement preparation to tax compliance, we offer solutions designed to address the unique challenges faced by international entrepreneurs. By partnering with us, you can focus on growing your business with the confidence that your financial matters are expertly managed by a team that understands your specific needs.

How Can Accounting Help My Business?

Accounting plays a vital role in the success of any business, providing the financial clarity needed to make informed decisions and achieve long-term goals. For businesses in Indonesia, proper accounting ensures compliance with local tax laws, helping to avoid penalties and maintain a good standing with authorities. It also offers insights into your financial performance, enabling better budgeting, cash flow management, and strategic planning. With accurate bookkeeping and financial reporting, you can streamline your operations, attract investors, and support business growth. For foreign entrepreneurs, professional accounting services simplify navigating Indonesia’s regulatory landscape, offering peace of mind and allowing you to focus on growing your business.

Related Read: Annual Report in Indonesia: Contents, Deadline, Periods & Procedures

Hiring an Accountant in Indonesia

Hiring an accountant in Indonesia offers many advantages, but it’s equally important to be aware of potential drawbacks. Here are a few considerations to keep in mind:

Expertise and Accuracy

Our in-depth knowledge of local regulations and meticulous attention to detail ensure your financial records are accurate and compliant, giving you peace of mind.

Communication and Business Understanding

We provide clear, proactive communication and financial advice tailored to your unique business needs, empowering you to make informed decisions confidently.

Reliability and Trust

You can count on us for dependable service, strict confidentiality, and proactive problem-solving to support your business’s long-term success.

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.

Experienced Business Consultants

Our 2 Decades of Proven Expertise Will Guide Your Business

With over 20 years of cumulative experience spanning Singapore, Malaysia, Indonesia, and Hong Kong, we have successfully incorporated more than 2,000 companies across diverse jurisdictions. Our proven expertise extends to securing a 93% success rate for Indonesia KITAS applications, demonstrating our commitment to delivering results. As trusted advisors, we excel in leveraging market positioning imperatives and strategic networks to support our client’s growth and success in competitive business environments.

Senior Consultant Rachel at Paul Hype Page Indonesia
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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

Frequently Asked Questions

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.

What are the accounting standards used in Indonesia?2022-07-15T10:49:06+08:00

The accounting standard in Indonesia is the Indonesian Financial Accounting Standards (Standar Akuntansi Keuangan – SAK).

Is Indonesia using IFRS?2022-07-15T10:48:48+08:00

Indonesia has not adopted the IFRS standards for reporting by domestic companies.

How often do I need to do my accounting?2022-07-15T10:47:19+08:00

Depending on your volume of activity, some companies do daily, weekly, monthly or even yearly accounting. As long come the company’s financial year end, there is reasonable accuracy achieved in compiling accounts for accurate tax reporting.

Is a professional accountant necessary for businesses?2022-07-15T10:47:05+08:00

It is highly encouraged for every business to have a professional accountant to comply with the annual compliance and avoid penalties.

What are the penalties for missing the Annual Financial Statements filing deadline in Indonesia?2022-07-15T10:46:47+08:00

Companies who failed to file their Annual Financial Statements via Ministry of Trade’s portal might experience the following consequences:

  • Written warning
  • Revocation of company business and/or operational permit or commercial permit
  • Recommendation of revocation of company business and/or operational permit or commercial permit

The warning shall be sent within 14 days, for up to 3 times.

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