Seed Business: Director Corporate Services
The Seed Business package provides clients with the option to outsource services that may already be administered internally within the organization. It is ideal for businesses without a substantial presence in a particular location that need some form of assistance (or substance) to run their business more effectively in that location. Alternatively, it is a great support mechanism for new start-ups that need to concentrate on growing their business rather than the administration. The following is a list of Seed Business services:
Preparation of statutory accounts may be a mandatory regulatory requirement for your business, depending on jurisdiction or ownership structure. In addition we provide the following services to our fund structures and large corporate clients, which tend to have their entities audited as part of their consolidation process.
- Audit liaison – Pre-audit planning with the external auditors regarding timing of audit (including Interim Audit).
- Preparation of the Statutory Accounts and audit file.
- Audit liaison – working with auditors and our clients to answer audit queries.
- Tax liaison – working with tax advisors and our clients to finalise tax balances and provisions.
- Finalising Statutory Accounts for client and auditor sign-off.
- Lodgment of Statutory Accounts with regulatory authorities, physically or electronically (where required).
Director Services (subject to Seed Outsourcing board approval): This service is primarily used by entities that wish to setup operations in a country, but do not have a local director present in the interim. Both corporate and personal (non-executive) directors can be offered in this case, subject to jurisdictional requirements.
Banking & Payment Services: This service is ideal for startup firms or multinationals who wish to open a branch office in another location and need local support to get bank accounts opened. It is also useful for clients that wish to outsource their Accounts Payable and Receivable functions. This service includes:
- Assistance in opening and managing local bank accounts (including internet banking).
- Payment of accounts payable invoices, as instructed by the client.
- Transfer of monies between client accounts, as instructed by client.
Tax Assistance Services: In certain jurisdictions tax filings will be required to be lodged on a periodic basis. This may include Annual Tax filings, quarterly Business Activity Statements, GST/VAT returns etc. Whilst at Seed Outsourcing we do not provide tax advice, we can assist in the preparation of these forms, which may require either the client or tax advisor’s final approval. These services may include:
- Preparation and lodgment of periodic Business Activity Statements (BAS).
- Preparation and lodgment of periodic GST/VAT returns.
- Preparation of the entities tax distribution statements.
- Provision of appoint as local agent.
- Responding to queries from the entities tax authorities in a timely manner.
- Payment of taxes on behalf of the client.
As part of our accounting services, we can setup, maintain, modify and execute multiple budgets and run them against your actual data. This can be compared for example, against your trial balance, specific general ledger codes, item groups, suppliers, as defined under your customized General Ledger setup. This will normally follow your management reporting cycle and is a perfect supplement to your periodic management reporting.
