Accounting・Bookkeeping
Accounting and bookkeeping tasks arise immediately after a company is established and are time-consuming. Our company can assist with setting up accounting software, bookkeeping services, and preparing monthly, quarterly, and annual financial statements. Additionally, we provide reporting and consolidation package support to parent companies.
Example of support flow
Set up accounting software
We will assess the current situation of your company and recommend and configure software accordingly. Our recommendations will take into consideration factors such as cost, functionality, compatibility with other business locations, and synergy with consolidation packages.
Bookkeeping
We will record daily transactions in the accounting software. Our services range from bookkeeping based on bank transactions to managing accounting tasks where we receive and handle invoices directly.
Monthly report
The recorded entries will be reviewed and compiled by a certified public accountant, allowing us to prepare financial statements that meet your company's specific requirements. In addition to serving domestic purposes in Australia, we also handle the creation of reporting documents for parent companies.
Consolidation package
For some companies, their Australian operations may be subject to consolidation with the headquarters. We can assist in inputting data into the consolidation packages according to your specified format. If no specific format is designated, we can extract the necessary information and prepare the reports accordingly.
Payroll service
A common challenge for companies expanding into Australia is compliance with payroll-related regulations. Australia is known for its strong legal protections for employee rights. Besides the safety net provided by the National Employment Standards (NES), there are industry-specific Modern Awards that set minimum employment conditions. The Modern Awards are complex, varying minimum wages based on industry, employee experience, and age, requiring both knowledge and experience for compliance. Our company offers comprehensive payroll support, including salary calculations and issuance of pay slips, handled by our experienced professionals.
・Overtime？Superannuation？Too complicated…
・Need to raise payrate after 3 month？
Difficult to follow the award…
・Need to keep confidential information to other employees..
By outsourcing to experts, these concerns can be resolved.
Secretary service
The company secretary plays a crucial role in ensuring compliance with the Corporations Act, including creating and managing various documents required for submission and storage with the authorities. This includes drafting minutes and resolutions for board and shareholder meetings. Additionally, when changes occur in company information, such as shareholder or director alterations, there is a responsibility to notify ASIC within a specified period. Our company provides support for the creation, management, and notification of these documents necessary for company operations.
・Here are some examples of specific obligations for companies under the Corporations act:
・The duty to notify ASIC of any changes in the details of directors, shareholders, and secretaries.
・The obligation to maintain the company's registered address.
・The duty to notify ASIC of any new issuance of shares.
・The obligation to submit financial statements.
・The duty to notify ASIC of changes in ultimate shareholders.
・The obligation to notify ASIC of changes in the composition and ratio of shareholders.
These are only some of the obligations, not an exhaustive list. Additionally, while non-public companies are not required to have a company secretary, company officers must fulfill these obligations.
Ensuring these are addressed comprehensively and promptly is crucial.