The Intercompany Balance Confirmation Letter is a essential document used in Indonesian corporate practice to verify and confirm financial balances between related companies. It is typically prepared at the end of each financial reporting period or upon auditor's request, in compliance with Indonesian Financial Accounting Standards (PSAK) and corporate regulations. The document serves multiple purposes: it confirms the accuracy of intercompany accounts, supports audit evidence requirements, helps identify any discrepancies in recorded balances, and forms part of the company's internal control system. This letter becomes particularly important during annual audits, tax investigations, or when companies are preparing consolidated financial statements. Under Indonesian law, such confirmations are crucial for demonstrating transparency in related party transactions and maintaining accurate financial records.
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1. Letter Header: Company letterhead, date, reference number, and formal addressing to the recipient company
2. Opening Statement: Purpose of the letter and reference to the audit/accounting period
3. Company Identification: Clear identification of both companies including legal names, registration numbers, and tax identification numbers
4. Balance Details: Specific statement of the intercompany balance amount as of the specified date, broken down by major categories if applicable
5. Transaction Summary: Brief summary of the nature of intercompany transactions that led to the balance
6. Confirmation Request: Clear request for confirmation of the stated balance and instructions for responding
7. Response Section: Space for the recipient company to indicate agreement or disagreement with the stated balance
8. Authorized Signatures: Signature blocks for authorized representatives of both companies with names and titles
1. Account Reconciliation Summary: Optional section when there are complex transactions or discrepancies that need to be explained
2. Currency Translation Note: Required only when balances involve multiple currencies
3. Outstanding Items List: Optional section listing any disputed or unreconciled items
4. Legal Disclaimer: Optional legal text regarding the non-binding nature of the confirmation for certain purposes
5. Group Policy Reference: Optional reference to group accounting policies when part of a larger corporate group
1. Detailed Balance Breakdown: Schedule showing detailed breakdown of transactions and running balance
2. Transaction Listing: Chronological list of all intercompany transactions for the period
3. Supporting Documents: Copies of relevant invoices, payment records, or journal entries
4. Account Reconciliation Statement: Detailed reconciliation statement if there are complex transactions or adjustments
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Financial Services
Technology
Retail
Energy
Mining
Construction
Healthcare
Transportation
Real Estate
Telecommunications
Consumer Goods
Professional Services
Hospitality
Agriculture
Relevant Teams
Finance
Accounting
Treasury
Internal Audit
Tax
Financial Reporting
Accounts Receivable
Accounts Payable
Corporate Secretarial
Financial Control
Group Consolidation
Relevant Roles
Chief Financial Officer
Finance Director
Financial Controller
Accounting Manager
Treasury Manager
Group Financial Controller
Internal Audit Manager
Accounts Receivable Manager
Accounts Payable Manager
Financial Reporting Manager
Tax Manager
Company Secretary
Finance Operations Manager
Consolidation Accountant
Group Accountant
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