Web Based 24/7 SMSF Administration Service for Accountants

 

Tranzact Super was one of the first SMSF administrators to introduce daily data processing and compliance services. This process has the advantage of enabling a proactive approach by the fund’s decision makers but requires an ongoing effort by accountants and trustees in the provision of the information needed. Consequently, this service is suitable for those clients who require and appreciate progressive processing of their fund; the ability to view current reports on the web; and constant compliance monitoring.

This service is vastly different from the usual “once a year” service that most clients of an accounting practice are use to. Whilst the “once a year” service may suit most clients, it is our experience from working with many accounting firms that this service would be suitable for a number of their premier clients and that those clients have been waiting for such a service.

Tranzact Super works to ensure that all reporting deadlines and audit requirements are met so as to avoid the imposition of penalties. The fund records are maintained in an efficient and auditable manner. Regular contact with the accountant ensures the effectiveness of the process..

Our web site reports include a cover page with your firm’s name and logo if you wish. Our reporting modules can be linked to your site and be badged with your logo and details. Tranzact Super will then be invisible to your clients.

The fact that the SMSF is your client is not only important to you, but also important to us. Our business is conducted to enhance the relationship between you and your client. We will not contact your client unless specifically instructed to do so by you.

You can remain the Tax Agent for the fund, being responsible for the lodgement of fund returns and activity statements and continue to be the postal address for all ATO correspondence. As we will be attending to the day to day data entry, we can provide relevant reports to assist you with lodgement of such returns and activity statements. Of course we will require you, from time to time, to provide us relevant ATO reports so we can perform reconciliations of taxes.

Further, after consideration of the Auditor Independence and the SMSF Auditor Competency rules, if you wish to remain the Auditor of your client SMSFs we can provide a work papers file to assist with your audit. Alternatively, you can appoint your own Auditor to whom we can provide the same work papers file or an Auditor from our own panel of SMSF Auditors.

Our Web Based 24/7 SMSF Administration service includes:

• maintenance and storage of fund records including Trustee’s Minutes, correspondence and Investment Certificates,

• annual Member & Trustee Reporting including Member Statements, Minutes & supporting documentation;

• daily on forwarding of evidence of portfolio activities if applicable;

• maintenance of Member accounts’ changing component position & benefit payment documentation;

• maintenance of Capital Gains Tax and Deferred Tax records;

• preparation of drawdown and rollover documentation;

• daily updates to the World Wide Web of fund details including valuations, transactions and asset allocations

• maintenance of established pensions;

• annual Fund Financial Statements preparation;

• preparation & lodgement of GST & Tax returns for the fund;

• facilitation of external Audit;

• facilitation of Actuarial Certificate and Solvency Certificate if required; and

• production of PAYG Summary Statements.

Our fees for this service are based on our standard 24/7 web based SMSF Administration and compliance fee schedule. However, depending on which roles you chose to retain this fee schedule can be negotiated.

 

To discuss this service further please contact our office:

 

Tel: Free Call 1800 644 804
Email: contact@tranzacttotalsuper.com.au