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Bali Zero handles visas, company setup, tax and property compliance in Indonesia. Ask us directly on WhatsApp.
Chat with Bali Zero on WhatsAppBookkeeping is not just an administrative task for PT PMA companies -- it is a legal requirement with direct consequences for tax compliance, financial reporting, and business operations. Indonesian tax law requires companies to maintain "adequate records" that can be audited by DJP at any time within a 10-year window.
Poor bookkeeping is one of the top reasons PT PMA companies face tax penalties, failed audits, and difficulties with license renewals. This guide provides a practical framework for managing your monthly bookkeeping obligations.
Indonesia has three tiers of accounting standards:
| Standard | Full Name | Applies To |
|---|---|---|
| SAK (Full PSAK) | Standar Akuntansi Keuangan | Public companies, large PT PMA, regulated entities |
| SAK ETAP | SAK untuk Entitas Tanpa Akuntabilitas Publik | Private companies without public accountability |
| SAK EMKM | SAK untuk Entitas Mikro Kecil Menengah | Micro and small enterprises |
Most PT PMA companies use SAK ETAP unless they are publicly listed, have plans for public offering, or are in regulated sectors (banking, insurance, securities).
A proper chart of accounts is the foundation of bookkeeping. Here is a recommended structure for PT PMA:
| Code Range | Category | Examples |
|---|---|---|
| 1000-1999 | Assets (Aset) | Cash, bank, receivables, inventory, fixed assets |
| 2000-2999 | Liabilities (Kewajiban) | Payables, tax payables, loans, accrued expenses |
| 3000-3999 | Equity (Ekuitas) | Paid-up capital, retained earnings |
| 4000-4999 | Revenue (Pendapatan) | Sales, service revenue, other income |
| 5000-5999 | Cost of Goods Sold (HPP) | Direct costs, materials, production labor |
| 6000-6999 | Operating Expenses (Beban Operasional) | Salaries, rent, utilities, marketing |
| 7000-7999 | Other Income/Expenses | Interest income, forex gains/losses |
| 8000-8999 | Tax Accounts | PPh 21, PPh 25, PPN, PPh 23/26 payable |
| Account | Purpose |
|---|---|
| 1110 - Cash on Hand | Petty cash |
| 1120 - Bank BCA/Mandiri | Corporate bank account(s) |
| 1130 - PPh 25 Prepaid | Monthly income tax installments |
| 1140 - VAT Input (PPN Masukan) | Input VAT credits |
| 2110 - Accounts Payable | Trade creditors |
| 2210 - PPh 21 Payable | Employee income tax withheld |
| 2220 - PPh 23 Payable | Service withholding tax |
| 2230 - PPh 25 Payable | Corporate income tax installment |
| 2240 - VAT Output (PPN Keluaran) | Output VAT collected |
| 2250 - BPJS Kesehatan Payable | Health insurance payable |
| 2260 - BPJS TK Payable | Employment insurance payable |
Day 1-3: Transaction Recording
Day 4-5: Bank Reconciliation
Day 6-7: Accounts Receivable/Payable
Day 8-10: Payroll Processing
Day 10: BPJS Payment
Day 10-15: Tax Payments
Day 16-18: Tax Reconciliation
Day 19-22: Management Reports
Day 23-25: Adjusting Entries
Day 26-31: Month-End Close
Sales invoice to client: IDR 110,000,000 (including 11% PPN)
Debit: 1200 - Accounts Receivable IDR 110,000,000
Credit: 4100 - Service Revenue IDR 99,099,099
Credit: 2240 - PPN Keluaran (Output) IDR 10,900,901
Monthly payroll for employee earning IDR 8,000,000:
Debit: 6100 - Salary Expense IDR 8,000,000
Debit: 6110 - BPJS KES Employer (4%) IDR 320,000
Debit: 6120 - BPJS TK Employer IDR 524,000
(JKK 0.54% + JKM 0.30% + JHT 3.70% + JP 2.00%)
Credit: 2210 - PPh 21 Payable IDR 183,333
Credit: 2250 - BPJS KES Payable IDR 400,000
(Employer 320,000 + Employee 80,000)
Credit: 2260 - BPJS TK Payable IDR 764,000
(Employer 524,000 + Employee 240,000)
Credit: 1120 - Bank (net salary) IDR 7,496,667
Payment to Indonesian consultant: IDR 10,000,000
PPh 23 withholding: 2% = IDR 200,000
Debit: 6300 - Consulting Expense IDR 10,000,000
Credit: 2220 - PPh 23 Payable IDR 200,000
Credit: 1120 - Bank IDR 9,800,000
Office equipment: IDR 60,000,000, useful life 4 years
Monthly depreciation: IDR 1,250,000
Debit: 6500 - Depreciation Expense IDR 1,250,000
Credit: 1520 - Accumulated Depreciation IDR 1,250,000
Bank reconciliation is the single most important monthly control. It ensures:
| Item | Book Balance | Bank Balance |
|---|---|---|
| Starting balance | IDR xxx | IDR xxx |
| Add: Deposits in transit | + IDR xxx | |
| Less: Outstanding checks | - IDR xxx | |
| Add: Bank credits not in books | + IDR xxx | |
| Less: Bank charges not in books | - IDR xxx | |
| Adjusted balance | IDR xxx | IDR xxx |
Both adjusted balances must match. If they do not, investigate the difference before closing the month.
| Tax | Payment Deadline | Filing Deadline | Form |
|---|---|---|---|
| PPh 21 | 10th | 20th | SPT Masa PPh 21 |
| PPh 23/26 | 10th | 20th | SPT Masa PPh 23/26 |
| PPh 25 | 15th | 20th | SPT Masa PPh 25 |
| PPh 4(2) Final | 10th | 20th | SPT Masa PPh 4(2) |
| PPN (VAT) | End of following month | End of following month | SPT Masa PPN |
For each tax type, verify monthly:
Using the corporate bank account for personal expenses (or vice versa) creates audit risks and makes tax reconciliation nearly impossible. Maintain strict separation.
Many small PT PMA transactions (meals, parking, minor supplies) happen in cash and go unrecorded. Use a petty cash system with receipts for all expenditures.
If your PT PMA receives payments in USD or EUR, each transaction must be recorded at the middle rate published by Bank Indonesia on the transaction date. Use the BI reference rate (JISDOR for USD).
You can only claim input VAT credits if you have a valid e-Faktur from your supplier. Collecting "regular" invoices without e-Faktur means losing the VAT credit, which is effectively an 11% cost increase.
Fixed assets must be depreciated over their useful life according to tax regulations. Not recording depreciation understates expenses and overstates profit (and therefore tax).
Waiting until month-end or quarter-end to record transactions leads to errors and missed tax deadlines. Record transactions within 1-2 business days of occurrence.
| Document Type | Retention Period | Format |
|---|---|---|
| General ledger | 10 years | Digital and/or physical |
| Journal entries and supporting docs | 10 years | Digital and/or physical |
| Bank statements | 10 years | Digital (PDF from bank) |
| Sales invoices (e-Faktur) | 10 years | Digital (XML from DJP) |
| Purchase invoices | 10 years | Digital or physical |
| Payroll records | 10 years | Digital and/or physical |
| Tax filing receipts (BPE) | 10 years | Digital (PDF from DJP) |
| Contracts and agreements | Life of contract + 10 years | Physical and digital |
| BPJS payment receipts | 10 years | Digital |
Yes. Under UU 28/2007 and related tax regulations, all PT PMA companies must maintain their accounting records in Indonesian Rupiah. Companies with predominantly foreign currency transactions may apply to DJP for permission to use USD or other currencies, but this requires special approval and is rarely granted for standard PT PMAs.
PT PMA companies must follow SAK (Standar Akuntansi Keuangan) issued by the Indonesian Accounting Standards Board (DSAK IAI). SAK is substantially converged with IFRS. Smaller companies may qualify for SAK ETAP (simplified standards for entities without public accountability) or SAK EMKM (micro/small entities).
Under Indonesian tax law, all accounting records, supporting documents, and financial statements must be kept for a minimum of 10 years from the end of the tax year. This includes invoices, receipts, bank statements, contracts, payroll records, and tax filing documentation. DJP can audit any of these years.
Bali Zero connects PT PMA owners with qualified accounting professionals:
Contact us at info@balizero.com or WhatsApp +62 813 3805 1876 for bookkeeping and accounting support.