SATO SMSF Administration® understands that a self managed super fund is but one of four entity structures (SMSF, sole traders, trusts & companies) that suburban accountants advise on. For local accountants who only have a handful of superannuation clients and prefer to spend more time advising on business services, our organisation can provide a tailored solution. The depth and skill of SATO SMSF Administration® back office empowers suburban accountants to tap into our resources and leverage off our economies of scale. Our organisation administers hundreds of funds across Melbourne, Sydney, Brisbane, Perth and Adelaide. It is this cross sectional experience across time zone differences, demographics, physical location barriers that give us the confidence to service the needs of small to medium public practice accounting firms.
Our business model is one of adaptability – we provide tailored solutions to your specific needs. Our goal is to alleviate the repetitive tasks and burden off your hands. This leaves you with time to focus on more pertinent issues such as client contacts – “critical to strengthening your bond and client relationship management.” Our superannuation specialists have broad experience across industry leading software packages such as Handi-tax, Handy ledger MYOB to name but a few.
Benefits of Outsourcing the Back Office
Cost savings: familiarity with a suite of industry leading software means our staff operate at maximum efficiency, resulting in reduction of operating costs to your firm of up to 30%;
Environmentally friendly office: all source documents are scanned and stored electronically. Electronic files can then be sent as a CD to your office or downloaded via file transfer protocol;
Online audit files: ASIC registered auditors will be able to download the documentation to facilitate the annual fund audit from the comfort of their own office. Our cloud based technology ensures access to electronic files is available around the clock;
Increased accuracy & efficiency: our understanding of mainframe systems, databases, spreadsheets and macros, eliminate 99% of human errors. All spreadsheets staff members rely on for taxation calculation is programmed with the latest taxation legislative requirements; &
Time zone: our superannuation specialist work around the clock to ensure that all client deadlines are met. Work submitted in the morning can be performed overnight and is ready the next morning. We have 3 allocated shifts for staff members.
Our organization has the flexibility to provide basic services such as portfolio administration, annual reporting, through to industry trend of daily reporting and 24/7 online access for the discerning clients. Our highly regarded back office environment is sophisticated enough to offer three levels of administrative support.
Annual administration platform – this package is more suited for clients who do not need up to the minute reporting, but are satisfied with the revaluation of their assets come end of financial year. Clients that may fall into this category include self managed super funds buying property, single asset funds, investment in private unit trusts, debentures, bonds or those with significant holdings in cash reserve. This annual administration would also be ideal for funds holding between 1 – 16 investments during the financial year. Our superannuation specialist will attend to the end of financial year reporting post June 30th. The turnaround time for such funds could be 2 – 6 weeks, depending on the completeness of source documentation forwarded to our office. Click here to review the annual administration platform.
Daily administration platform – this level of service would be ideal for clients with numerous direct shareholdings or investments in managed funds anticipating regular distributions. The daily reporting of realized and unrealized capital gains tax (CGT) empowers trustees to rebalance their portfolio to achieve superior return on investment (ROI), while minimizing taxation at the same time. Alternatively, this level of service agreement would also be ideal for trustees who feel the desire to monitor contributions received by the fund, so as not to exceed the annual maximum threshold. The daily administration platform is recommended for Funds with 16 investments or, more during the financial year. This level of support will enable trustees to fine tune their superannuation compliance, as their minor breaches will be detected and can be rectified with immediate effect, as opposed to end of financial year. Our superannuation specialist will act as an extension of your back office. This is the preferred stance from the Australian Taxation Office. Click here to review our daily administration platform.
Premium administration platform – this level of service agreement would suit clients that are time poor, and prefer to spend their time focusing on superannuation strategies, or the technical analysis of their investment portfolio. The premium administration platform has all the benefits of the daily administration platform. In addition, clients will also benefit from our organization acting as the mail house for all correspondence with share registries. This level of support would suit funds with more than 20 investments during the financial year, or funds that anticipate numerous transactions. Our superannuation specialist will be on standby between 9.00 am to 5.00 pm (Monday to Friday) as an extension of your back office, for daily correspondence with your office where required. Clients under this arrangement would be completely alleviated from all paperwork. Click here to review our premium administration platform.
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