Balance Sheet and Ledgers in Thailand - Juslaws

Balance Sheet and Ledgers in Thailand

The Accounting and Auditing team at Juslaws & Consults assists clients in balance sheet maintenance and ledger accounts as well as with the preparation of financial records and statements.
Balance sheet – in financial accounting terms a balance sheet is a statement showing a company’s financial position at a specific point in time. Assets, liabilities and equity are shown at a specific date, such as the last day of the company’s financial year, for example. Equity – or net worth – is the difference between the value of a company’s assets and liabilities.
A balance sheet is the only financial statement that specifically shows a company’s status on a specific date in the calendar year.
Ledgers – include a company’s general ledger, which is its main record of accounts, and subsidiary ledgers providing details of the accounts contained in the general ledger. In the general ledger accounts are categories of items such as current assets and fixed assets, revenue, expenses, liabilities and gains and losses – in debit and credit sections.
The general ledger is the source of support for the figures contained in a company’s financial statements. Individual transactions are recorded as entries in daybooks for sales, purchases, cash and general journals.
A general ledger is typically supported by subsidiary ledgers containing details of the accounts appearing in the general ledger. An accounts receivable ledger, for example, would contain individual accounts for each of the company’s credit customers. The total amount of the subsidiary ledger’s accounts are then compared to that of its controlling account in the general ledger as a way of ensuring accuracy in the preparation of a trial balance.


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+66 2254 4117



+66 2254 4117