Monthly Bookkeeping for PT PMA 2026: Required Records, Tax Reconciliation & Best Practices

Why Proper Bookkeeping Matters for PT PMA

Bookkeeping 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.

Accounting Framework: SAK/PSAK Standards

Which Standard Applies?

Indonesia has three tiers of accounting standards:

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).

Key Principles

• Accrual basis: Revenue and expenses are recognized when earned/incurred, not when cash changes hands
• Going concern: Assume the business will continue operating
• Consistency: Use the same accounting methods year to year
• Materiality: Report items that could influence economic decisions
• Rupiah denomination: All records in IDR (unless special approval obtained)

Chart of Accounts (Bagan Akun)

A proper chart of accounts is the foundation of bookkeeping. Here is a recommended structure for PT PMA:

Standard Account Categories

Essential Sub-Accounts for Tax Compliance

Monthly Bookkeeping Workflow

Week 1 (1st-7th): Record and Reconcile

Day 1-3: Transaction Recording

• Record all sales invoices issued during the previous month
• Record all purchase invoices received
• Record all cash transactions from petty cash log
• Record bank transactions from bank statements

Day 4-5: Bank Reconciliation

• Download bank statements for all corporate accounts
• Match bank transactions to general ledger entries
• Identify unmatched items (outstanding checks, deposits in transit)
• Investigate and resolve discrepancies

Day 6-7: Accounts Receivable/Payable

• Update AR aging report (who owes you and for how long)
• Update AP aging report (what you owe and when due)
• Follow up on overdue receivables
• Prepare payment schedule for upcoming payables

Week 2 (8th-15th): Tax Calculations and Filings

Day 8-10: Payroll Processing

• Calculate gross salaries, allowances, and overtime
• Calculate PPh 21 withholding for each employee
• Calculate BPJS Kesehatan deductions (1% employee)
• Calculate BPJS Ketenagakerjaan deductions (2% JHT + 1% JP)
• Prepare net salary payments

Day 10: BPJS Payment

• Pay BPJS Kesehatan contributions (employer 4% + employee 1%)
• Pay BPJS Ketenagakerjaan contributions (all programs)
• Deadline: 10th of each month

Day 10-15: Tax Payments

• PPh 21: Pay employee income tax by 10th, file by 20th
• PPh 25: Pay corporate installment by 15th, file by 20th
• PPh 23/26: Pay withholding tax by 10th, file by 20th
• PPN (VAT): Pay and file by end of following month

Week 3 (16th-22nd): Reconciliation and Review

Day 16-18: Tax Reconciliation

• Reconcile PPh 21 withholding with payroll records
• Reconcile PPh 23/26 withholding with service invoices
• Reconcile VAT output with sales records
• Reconcile VAT input with purchase invoices and e-Faktur
• Ensure all tax payments match filed amounts

Day 19-22: Management Reports

• Prepare monthly trial balance
• Generate profit & loss statement (month and YTD)
• Generate balance sheet
• Prepare cash flow summary
• Flag any unusual items or concerns

Week 4 (23rd-31st): Close and Prepare

Day 23-25: Adjusting Entries

• Record depreciation of fixed assets
• Record amortization of prepaid expenses
• Record accrued expenses (utilities, interest, etc.)
• Record inventory adjustments (if applicable)
• Record foreign exchange adjustments

Day 26-31: Month-End Close

• Review and approve all journal entries
• Print/save all supporting documents
• Archive monthly records (digital and physical)
• Prepare for next month

Journal Entry Examples

Recording a Sale (with VAT)

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

Recording Payroll

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

Recording PPh 23 Withholding

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

Recording Depreciation

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

Why It Matters

Bank reconciliation is the single most important monthly control. It ensures:

• All transactions are recorded
• No unauthorized transactions occurred
• Cash balance is accurate
• Tax filings match actual payments

Reconciliation Template

Both adjusted balances must match. If they do not, investigate the difference before closing the month.

Tax Reconciliation Checklist

Monthly Tax Filing Summary

Reconciliation Points

For each tax type, verify monthly:

1. PPh 21: Total withholding in payroll records = amount in SPT Masa = amount paid to DJP
2. PPh 23/26: Total withholding from service invoices = amount in SPT Masa = amount paid
3. PPh 25: Installment calculated correctly from last annual return
4. PPN: Output VAT from sales invoices = e-Faktur total = SPT Masa amount; Input VAT credits properly documented

Common Bookkeeping Mistakes

Mistake 1: Mixing Personal and Business Transactions

Using the corporate bank account for personal expenses (or vice versa) creates audit risks and makes tax reconciliation nearly impossible. Maintain strict separation.

Mistake 2: Not Recording Cash Transactions

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.

Mistake 3: Incorrect Foreign Exchange Treatment

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).

Mistake 4: Missing e-Faktur for Input VAT

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.

Mistake 5: Not Depreciating Fixed Assets

Fixed assets must be depreciated over their useful life according to tax regulations. Not recording depreciation understates expenses and overstates profit (and therefore tax).

Mistake 6: Late Recording of Transactions

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.

Record Keeping Requirements

What to Keep

Digital Storage Best Practices

• Use cloud accounting software (Jurnal.id, Accurate, or international alternatives)
• Back up monthly to external storage
• Organize by year > month > document type
• Maintain scanned copies of all physical receipts
• Keep e-Faktur XML files organized by tax period

Frequently Asked Questions

Must PT PMA bookkeeping be in Indonesian Rupiah?

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.

What accounting standards apply to PT PMA in Indonesia?

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).

How long must I keep accounting records?

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.

How Bali Zero Can Help

Bali Zero connects PT PMA owners with qualified accounting professionals:

• Monthly bookkeeping service through our accounting partners
• Tax filing management (PPh 21, 25, 23, PPN)
• Bank reconciliation and financial reporting
• New company formation (IDR 20,000,000) with accounting system setup
• Year-end financial statement preparation
• Tax audit support

Contact us at info@balizero.com or WhatsApp +62 821 3454 721 for bookkeeping and accounting support.