Accounting Setup for PT PMA Companies in Indonesia – How to Meet GAAP & LKPM Standards - [2026 Edition] - (Part 3)

Introduction

In Part 1 – How to Open a Foreign-Owned Company (PT PMA) in Indonesia – 2026 Guide and Part 2 – Indonesia KBLI Codes & Business Licences Explained – Choose the Right One for Your PT PMA, we covered how to establish your legal entity and secure the appropriate business licences under OSS-RBA.

Now, in Part 3 – Accounting Setup for PT PMA Companies in Indonesia – How to Meet GAAP & LKPM Standards, we move into the financial foundation every PT PMA must build. This guide explains how to structure your chart of accounts, align with PSAK (Indonesia GAAP), and prepare bookkeeping that supports tax reporting, audits, and LKPM submissions.

1. Why Accurate Bookkeeping Matters from Day One

For a foreign-owned company (PT PMA), accounting is not an administrative afterthought — it determines whether your business stays compliant, gains investor confidence, and keeps its OSS licence active.

Accurate bookkeeping enables:

• Predictable tax payments (PPh 21/23/25/26 and VAT PPN).
• Seamless LKPM submissions every quarter to BKPM.
• Smoother bank audits, dividend repatriation, and due-diligence checks.
• Transparent management reporting for shareholders abroad.

In Indonesia, “poor accounting” isn’t just inefficient — it’s non-compliance.

BKPM, DJP (Tax Directorate), and BPJS all share data through OSS-RBA.

If your books don’t match your tax and investment reports, licences can be flagged “non-operational.” 

2. Indonesia’s Accounting Framework (PSAK / Local GAAP)

Indonesia follows PSAK (Pernyataan Standar Akuntansi Keuangan) — its version of Generally Accepted Accounting Principles, developed by the Indonesian Institute of Accountants (IAI) and aligned with IFRS.

PSAK Standard	Purpose	IFRS Equivalent	Practical Relevance to PT PMA
PSAK 1	Financial statement presentation	IAS 1	Defines format and required disclosures
PSAK 25	Accounting policies & corrections	IAS 8	Consistency across financial years
PSAK 46	Income tax accounting	IAS 12	Aligns book vs tax profit computation
PSAK 68	Fair-value measurement	IFRS 13	Asset valuation & revaluation rules
SAK EMKM	Simplified standard for SMEs	IFRS for SMEs	May apply if revenue < IDR 50 billion

Language & Currency Rules (PMK 18/2021):

• Default books = Bahasa Indonesia + Rupiah (IDR).
• You may apply to use English + USD if most transactions are foreign currency-based (valid 5 years with DGT approval).
  
  

Tip for foreign founders: Even if your group reports in IFRS, Indonesian subsidiaries must maintain a separate PSAK ledger for tax and audit purposes.

3. Chart of Accounts Design for Compliance

A PSAK-aligned Chart of Accounts (CoA) is the foundation of your system.
It determines how transactions map to tax codes and LKPM headings.

Core principles:

1. Mirror PSAK structure — Assets, Liabilities, Equity, Income, Expenses.
2. Tag tax accounts to PPh 21/23/25/26 and PPN categories.
3. Link operational revenues to your KBLI activities for LKPM alignment.
4. Segment per entity or branch if your group operates multiple PTs or regencies (Badung, Denpasar, Jakarta).
5. Include BPJS and Payroll accounts under operating expenses for OSS cross-checks.
   
   

Example Mapping

Category	PSAK Account Code	Tax Code (Example)	LKPM Line
Sales – Consulting Fees	4-1000	PPh 23	Production & Sales
Sales – Accommodation	4-1100	PBJT / PHR	Production & Sales
Payroll Expenses	5-2000	PPh 21 / BPJS	Employment Data
Fixed Assets – Building	1-1200	Depreciation (PSAK 16)	Investment Value
Tax Payable – PPh 25	2-3000	Monthly Installment	—

Design Tip: Maintain one CoA template across all SatuSolusi-supported clients for audit comparability.

4. Monthly Tax and LKPM Integration

Once your chart and system are live, the same data feeds three compliance streams:

Stream	Frequency	Submitted To	Key Reports / Forms
Tax (DJP)	Monthly + Annual	DJP Online	PPh 21/23/25/26, PPN, SPT 1771
Investment (LKPM)	Quarterly	BKPM / OSS-RBA	Revenue, Capital Expenditure, Employment
Social Security (BPJS)	Monthly	BPJS Kesehatan & Ketenagakerjaan	e-DABU / SIPP online uploads

Linking Tax to LKPM

• Revenue: Sum of sales accounts from your ledger should match the “Production and Sales” figure in LKPM.
• Investment: Asset additions in your fixed-asset register feed into “Capital Realisation.”
• Employment: Payroll ledger links to BPJS headcount.
  
  

Quarterly LKPM Windows (2026):

• Q1: 1–10 April • Q2: 1–10 July • Q3: 1–10 October • Q4: 1–10 January (2027)

Missing or inconsistent data triggers BKPM clarification letters and possible licence suspension.

5. How to Prepare for Audits and Year-End Reviews

A. Audit Thresholds

Requirement	Condition	Basis
Mandatory Audit	Assets ≥ IDR 50 b or Revenue ≥ IDR 60 b	Art. 68 Company Law 40/2007
Optional Audit	Below threshold but requested by shareholders / banks	Good practice
RUPS (Annual Meeting)	Within 6 months after year-end	Company Law requirement

B. Audit Preparation Checklist

• Close books by 31 January.
• Reconcile all tax accounts (PPh 21/23/25/26, PPN).
• Confirm asset register & depreciation schedule.
• File all BPJS and local tax proofs.
• Hold RUPS to approve financials and appoint auditor.
  
  

C. Common Findings

• Differences between tax and book profit.
• Unrecorded foreign transactions.
• Missing supporting e-invoices.
• Out-of-date BPJS records vs payroll headcount.
  
  

6. Recommended Accounting Systems for SMEs & PT PMAs

System	Type	PSAK Ready	Strengths	Typical User
Odoo ERP Accounting Module	Integrated ERP	Yes (custom CoA + audit trail)	Modular (accounting, HR, CRM, POS); ideal for multi-entity groups	PT PMA groups with multiple business lines

7. Download Your Accounting Setup Checklist

For Foreign Founders / Finance Managers starting in 2026

Before Operations

• Select KBLI and risk classification (OSS approval).
• Establish PSAK-compliant chart of accounts.
• Obtain USD bookkeeping approval (if needed).
• Open bank account & capital deposit (IDR 2.5 b minimum).
• Register for NPWP & NPWPD.
  
  

Monthly Rhythm

• Close books within 10 days of month-end.
• File tax and BPJS by mid-month.
• Reconcile sales to NPWPD and VAT reports.
  
  

Quarterly

• Prepare and submit LKPM (1–10 April / July / October / January).
  
  

Year-End

• Audit if required; RUPS by 30 June.
• File Annual SPT by 30 April.
  
  

Archive books and supporting documents 10 years.

How SatuSolusi Can Help

SatuSolusi Consultancy helps foreign businesses launch and secure operations in Indonesia by building PSAK-compliant financial systems integrated with OSS, DJP, and BKPM.

Our Accounting & Tax Services

• PSAK-aligned bookkeeping and chart of accounts design
• Odoo ERP implementation and training
• Monthly tax filing and reconciliation (PPh, VAT, PBJT)
• Audit preparation and external auditor coordination
• LKPM and OSS report integration
  
  

Conclusion

A properly structured accounting system gives your PT PMA the foundation it needs for compliant reporting — from LKPM submissions to audited financial statements and annual tax filings. Aligning your COA, PSAK policies, and documentation standards ensures your data remains consistent across OSS-RBA, BKPM, and DJP.

If you have not reviewed the earlier parts, Part 1 – How to Open a Foreign-Owned Company (PT PMA) in Indonesia – 2026 Guide and Part 2 – Indonesia KBLI Codes & Business Licences Explained – Choose the Right One for Your PT PMA lay the groundwork for understanding how your legal entity and business licences connect to these accounting obligations.

In Part 4 – Financial & Tax Reporting in Indonesia – PSAK Statements & Annual SPT Filing Guide 2026, we expand on this foundation by detailing how your bookkeeping translates into statutory financial reports and tax filings.

Ready to align your accounting setup with Indonesia’s local GAAP and LKPM requirements? Book a 30-minute consultation our accounting experts.