Virtual Office

We execute on the critical regulatory, legal, accounting and administrative functions leaving you to concentrate on maximizing your business opportunities.

As an international company entering the Australian market, developing new business is your focus. We specialise in running the local administration and accounting functions for overseas clients. We can support your business with local financial, company and administrative expertise, allowing you to focus on a successful entry into the Australian market.

Benefits of using PVBG Virtual Accounting and Administrative Services

• Saves Time and Money and makes access to relevant business advice a phone call away
• Financial – Business overheads should be less than 30% of turnover. Using our expertise and software avoids the immediate initial investment required in IT such as software licenses, computer leasing and further savings on staff, telecommunication expenses and office leasing
• Expertise – We provide a professional team with a diverse range of finance and accounting skills who have the experience to ensure that the business is set up in an optimum way to facilitate growth
• We have been running Asia Pacific offices for companies for over 15 years
• We have advised international clients on international tax and its relationship to the Asia Pacific region
• We are a fully paperless office, streamlining the flow of information and documentation between our clients and ourselves

The first recruit in a new market is often the sales manager whose focus is to produce income. Energy should not be diverted to the bureaucracy and administrative requirements of a new business. Our team includes accountants, taxation specialists, bookkeepers, human resources and administrative staff who collectively provide the support your business needs in the formative stages, setting you up with efficient practices and procedures using the latest software which is tried and tested in our own paperless office

There are many legal, financial and employment considerations which have to be addressed to ensure that your business operates legitimately. We can help ensure that you’re fully compliant for business.

Legal considerations

The following may be necessary:

• Registering your business name with the Australian Securities and Investment Commission
• Incorporation of your company with the Australian Securities and Investment Commission (ASIC)
• Registering for an Australian Business Number (ABN) and Tax File Number (TFN) with the Australian Taxation Office (ATO)
• Registering for the relevant taxes such as GST and PAYG with the ATO
• Localise contracts and Terms and Conditions

In addition, our human resources team can advise on employment awards, superannuation policies, workers’ compensation and PAYG taxes. They can also provide standard employment contracts.

Financial and Operational Considerations

We can assist with setting up a business bank account, payment arrangements such as EFTPOS and credit facilities from your suppliers.

Choosing the right business structure is important as the consequences are long term and there are advantages and disadvantages associated with the most common structures being – local subsidiary, offshore subsidiary and branch.

It is important to consider personal financial liability of the Australian directors, tax implications, access to business profits, establishment costs and risk exposure at this stage.

We can prepare the Australian year-end financial statements and income tax return.

Our team, through Peter Vickers Insurance Brokers Pty Ltd, can also advise on all types of business insurance including public liability, vehicle, professional indemnity, providing free quotes where applicable.

Employer Considerations

Before employing staff it is important to be familiar with:

• The regulatory requirements both Federal and State which define the employment conditions of employees
• The Occupational Health & Safety consultation process
• Workers Compensation insurance which is a legal requirement
• Superannuation – employers are required to make superannuation contributions for their employees as a percentage of their earning base.

Once the organisation is up and running, the need for administration and bookkeeping will become more evident. We typically perform these functions for our overseas clients. They include:

• Initiation, set-up and implementation of office systems and procedures
• Selection of the most appropriate accounting software and its set up
• Weekly or monthly bookkeeping services
• Preparation of Business Activity Statements (BAS) and Goods and Services Tax (GST)
• Set-up of debtors and creditors payment systems
• Payroll, superannuation and worker’s compensation
• Bank reconciliations
• Inventory control
• Job costing
• Budgeting and cash flow forecasting
• Preparation of management reports to parent overseas with adherence to strict reporting timetable
• Mailbox Service – receive and process mail

Find Out More About Virtual Accounting & Administrative Services