Strategic Accounting & Bookkeeping for Companies in the Coretax Era with XPND

Amid major changes in Indonesia’s financial regulatory landscape, the function of accounting & bookkeeping can no longer be viewed as a back office administrative task.

The years 2025 and 2026 mark a new era in which corporate financial data will be directly connected to the national tax system through the Core Tax Administration System Coretax, governed by the new accounting standard known as Standar Akuntansi Keuangan (SAK) Entitas Privat, and subject to stricter supervision by the Directorate General of Taxes (DJP), the Ministry of Trade, and in many cases the Financial Services Authority.

For directors and management, this creates a very tangible reality. Financial statements have become the primary foundation of business continuity, access to financing, and personal legal protection.

XPND acts as a strategic partner for companies that want their accounting & bookkeeping to serve not only as proper records, but as a true instrument of business protection and sustainable growth in the Coretax era.

We understand that every figure in today’s financial statements directly affects contracts, bank credit, dividends, and the legal position of corporate officers in the future.

Discuss your Coretax and SAK Entitas Privat exposure with XPND

Why Accounting & Bookkeeping Has Become a Strategic Issue in the Coretax Era

The Indonesian government has launched the Core Tax Administration System or Coretax as the new backbone of tax administration. All processes ranging from the issuance of tax invoices, withholding tax certificates, to the filing of tax returns (SPT) are now fully electronic and integrated.

This system connects sales data, purchase data, tax withholdings, and counterparty identities in real time. As a result, corporate bookkeeping no longer operates in isolation. It has become a direct source of data for the national tax system.

At the same time, the Indonesian Institute of Accountants has mandated the adoption of SAK Entitas Privat starting in 2025 for private companies that previously applied SAK ETAP or SAK for Entities Without Public Accountability.

This transition introduces a new accounting paradigm. Assets may now be measured using fair value, deferred tax must be recognized, and income statements evolve into statements of comprehensive income. These changes directly affect equity, retained earnings, and how banks and auditors evaluate the financial health of a company.

In this context, accounting & bookkeeping is no longer about recording transactions. It is the core system that determines whether a company is seen as credible, bankable, and compliant by regulators and business partners.

Real Risks Faced by Companies Without Strategic Accounting & Bookkeeping

Many companies still rely on outdated bookkeeping models that separate commercial financial reporting from tax data. In the Coretax era, this approach creates significant risk. When tax invoices or withholding documents are rejected because employee or counterparty NIK (Nomor Induk Kependudukan) or NPWP (Nomor Pokok Wajib Pajak) data is invalid, business transactions can be blocked.

When a company’s tax status in Coretax turns red, large corporations and state owned enterprises BUMN can delay payments or even terminate contracts because the company is considered high risk.

From a financing perspective, financial statements that still rely on historical cost often show assets and equity at artificially low levels. In the real market, properties and investments may be far more valuable. Banks base their credit decisions on what is recorded in the financial statements. Without alignment with SAK Entitas Privat, companies lose their bargaining power to secure higher credit limits.

For directors and commissioners, the risk is also personal. The Indonesian Company Law (UU Perseroan Terbatas) requires financial statements to be prepared and in certain cases audited. If the statements are not valid or not compliant, the General Meeting of Shareholders (RUPS) cannot grant a discharge of responsibility. In extreme situations, the personal assets of corporate officers can be exposed.

XPND as a Strategic Accounting & Bookkeeping Partner

XPND does not provide ordinary bookkeeping services. We position accounting & bookkeeping as a tool for risk management and corporate growth. Each of our services is designed to address the most serious concerns faced by directors and shareholders.

Coretax Compliant Bookkeeping

We ensure that client bookkeeping systems are aligned with Coretax standards. Sales, purchases, and tax withholdings are structured so that they can be processed seamlessly by the tax system.

A clean and green tax status in Coretax protects corporate credibility and prevents payment delays or contract suspensions by major business partners.

Financial Reporting Optimization Based on SAK Entitas Privat

The transition from SAK ETAP to SAK Entitas Privat allows companies to reflect their true economic value. Through fair value measurement and compliant revaluation, assets and equity can increase legally.

XPND helps companies use this standard to strengthen financial statements so they become more bankable and more attractive to lenders.

Master Data Cleanup for the NIK as NPWP Era

Coretax integrates NIK as the tax identification number for individuals. This means that customer, vendor, and employee databases must be accurate and valid. XPND performs mass validation and data cleansing to ensure that tax invoices and withholding documents are not rejected by the system. This keeps business operations running without disruption.

Strategic Equity and Dividend Planning

The application of SAK Entitas Privat can change retained earnings due to deferred tax and fair value adjustments. Without proper simulation, this can trigger shareholder disputes because dividend capacity changes. 

XPND provides impact analysis so management can plan dividend policies with clarity and confidence.

Directors Liability Health Check

XPND conducts targeted compliance audits to ensure that no regulatory gaps exist that could transfer corporate liability to the personal level of directors and commissioners. This provides an additional layer of protection for key decision makers.

Compliance Beyond Tax

Companies are not accountable only to the Directorate General of Taxes. The Company Law requires audits for companies with certain asset or revenue thresholds.

Audited financial statements must also be submitted to the Ministry of Trade through the Annual Financial Statement Report (Laporan Keuangan Tahunan Perusahaan/LKTP). Failure to meet these obligations can lead to business suspension or license revocation.

Accounting & bookkeeping managed by XPND is designed to satisfy this entire compliance ecosystem. Financial reports are prepared to be audit ready, submission ready, and consistent between commercial and tax reporting.

Managing Sanctions and Risk in the UU HPP Era

Under the Harmonization of Tax Regulations Law (Undang Undang Harmonisasi Peraturan Perpajakan/UU HPP), tax penalties are now based on market interest rates with additional multipliers. Late corrections can become extremely expensive.

XPND assists clients in conducting fiscal reconciliation and voluntary corrections so they can avoid high uplift factors. This protects cash flow and prevents the accumulation of heavy interest penalties.

Why Companies Choose XPND

XPND understands that modern accounting & bookkeeping is about keeping companies alive, trusted, and protected. We do not merely process numbers. We understand how those numbers are interpreted by banks, auditors, regulators, and business partners.

Our approach combines regulatory compliance, financial strategy, and legal protection into one integrated system.

We act as a strategic partner that stands with management. Every report, reconciliation, and accounting standard adjustment is designed to strengthen your company’s position.

Begin a Strategic Consultation with XPND and ensure that your company remains green in Coretax, strong in financial reporting, and secure under the law.