Start-Up and Transition
Starting your business in Chile can be a complex and difficult task if you do not have the right support. For many years, we have accompanied large companies to establish their Legal Entities in our country. The key to our success has been the provision of detailed steps, as from the very beginning of the process, which are involved and that complies with the legal and tax requirements to operate without setbacks. To help Companies in this accomplishment, we have design a program tailored to its stature, describing the procedures, required documentation, estimated costs and time execution for each of them. Thus, our clients will be well aware and in advance, on how, when and where this entity will become operational.
At the same time, if a company requests to change its provider of administrative or accounting services, it is necessary to have a reliable and effective team to ensure an adequate transition and you can count on our expertise.
We offer Tax and Accounting experience, updated administrative knowledge, and understanding of the needs of foreign clients in Chile to ensure that the start-up or transition process is as fluid and transparent as possible.
Accounting and Reporting
Businesses are often under intense cost and time constraints and find it difficult to take complete control over their critical finance processes. One such process is bookkeeping, which keeps track of operations and, at the same time, is an essential and mandatory element to determine their tax obligations.
Efficient bookkeeping services provide a clear picture of total earnings and help in taking important business decisions that move the company forward. Having an in-house bookkeeping & accountancy team can be cumbersome and expensive. Hence, it is better to outsource bookkeeping services to an experienced third-party service provider.
Crowe Horwath’s Outsourcing has been providing top-quality professional accounting and bookkeeping services in Chile, to several clients around the world. We take care of all your accounting and tax preparation processes and provide efficient bookkeeping services at reasonable rates.
- Day-to-day bookkeeping & accounting.
- Accounts Receivables and aging report.
- Bank Reconciliation.
- Cash Flow Statement.
- Reporting on USGAAP or IFRS basis.
- General Ledger.
- Assets /Equipment Ledgers.
- Expenses Ledger.
- Financial Statements preparation.
- PreparaciónTrial Balance.
- Income Statement (Profit & Loss).
- Books balanced & reconciled quarterly.
Aside from the general bookkeeping services mentioned above, we also have the skills, resources, and infrastructure to provide customized services, which include:
- Customized Reports.
- Employee Reports.
- Break-up of Expenses Reports.
- Event Analysis Reports
The complexity of the recent Chilean Tax Reforms and Regulations can have a significant impact on your business reality. It could be due to how these rules affect the tax burden or the degree of accuracy and knowledge to carry out the declaration process. Our professionals have carried out the necessary legal and tax studies to be able to develop our services with the support, professionalism and commitment that this implies.
- Preparation of monthly and annual tax returns.
- Sworn statements required by IRS.
- Preparation of sworn statements required by the SII.
- Presentations before the Internal Revenue Service.
- Advice on Tax Franchises.
- Reconstruction and registration of the Tax Profit Fund.
- Reviews for Acquisition of Companies.
Outsourcing de Remuneraciones
In Chile, there is a wide range of regulations for compliance towards labor obligations by the employer, such as retention amounts, the hiring and firing process and other basic labor law issues that can have a crucial impact on the appropriate operation of a company.
Our Remuneration Outsourcing Service allows this important administrative function to be in the hands of experts, thus avoiding distracting management's efforts in cumbersome and time-consuming tasks that are not the of your core business.
- Calculation of salary settlements considering assets and legal and contractual discoun.
- Payment of remuneration through electronic transfers and / or issuing of checks.
- Dispatch of remuneration payments through web portal of self-consultation and/or by local mail.
- Payment of pension contributions.
- Issuance of monthly legal remuneration book.
- Monthly Compensation Process.
- Annual Leave Control (consumption and remnant per worker).
- Payment of the Advance Payments.
- Update of work contracts according to the format delivered by our clients.
- Calculation of settlements.
- Control of current accounts of personnel (loans and others).
- Staff turnover.
- Discharge and discharge reports.
- Absenteeism reports (medical leave, arrears, overtime, etc.)
- Preparation and issuance of remuneration certificates.
- Preparation and sending of sworn statements to the Internal Revenue Service.
Cash FLow Management Services
Why Outsource Cash Flow Management Services?
Ineffective financial management can make or break revenue bottom lines and can severely dent growth prospects. A viable proposition is to outsource cash management to a professional service provider. Such partnership frees you from the burden of managing routine cash flow management tasks and puts the focus back on acquiring new customers and solidifying stakeholder relationships.
For more than 20 years, Crowe Horwath has worked with global companies helping them with their cash management outsourcing needs. Whether you are managing daily cash flow activities or planning a cash flow in the medium term. With the support from our team of financial accountants, analysts and managers with experience in assisting them in banking issues. We also take care of the obligations demanded by the operation through the issuance of checks or bank transfers duly authorized by our parent company.
In order to achieve the above mentioned and for transparency purposes, it is necessary that a Manager from our Firm be duly authorized to operate the cash flows on behalf of our client, with the respective power of attorney.
- Daily maintenance of the cash flow report (sales, deposits, expenses).
- Accounts payable and accounts receivable.
- Reconciliation of credit card report.
- Reconciliation of bank statements.
- Cash flow budget.
- Cash flow planning and forecasting.
- Management report of electronic payments.
- Our Cash Flow Management Process.
Our Firm has professionals with vast experience in the design and evaluation of processes and key controls for different types of businesses and sizes. Therefore, our clients can benefit from our assessment services and verification of compliance with internal control, as well as evaluation services processes when required by the circumstances or, when companies have developed to a point where they must evaluate between having a comptroller area or internal audit or outsource that service.
Crowe Horwath Outsourcing has worked for a wide range of companies that require specific support in their operational processes.
Legal Representation and Address
Foreign companies calling for the startup of operations in Chile must comply, among other requirements, with assigning a Chilean Legal Representative. At the same time, while initiating activities, companies should establish a commercial address for the notification purposes by the respective tax and labor regulatory authorities.
Crowe Horwath Outsourcing is available to assign some of its professionals to represent, temporarily, the company for specific purposes and with the proper safeguards and authorizations from the respective parent companies..
Asset Management is such an essential challenge, that a poorly registered asset, with a vague description, poorly grouped or with other failures in the collection of data, may expose your company to a financial, tax or regulatory risk. Our company has 25 years of proven experience, but it is our commitment what makes the difference!
We rely on best practices, with international standards and the establishment of strong relationship with our customers, to help increase the value of your company, optimizing its development, creating competitive advantages and achieving growth in your profits.
Our integral assistance, will allow you to accurately know the physical location of your assets, their value and their condition or operating status.
Situation Diagnosis for fixed assets location
Our feedback on control opportunities to manage the fixed assets and its risks.
Manual of basic procedures for fixed assets
Our advice on the best practices to manage your fixed assets.
Reconciling the fixed assets physical inventory with the accounting records.
We link the physical assets identified with the accounting records of acquisitions for the company.
Implementation with adequate correspondence with IFRS norm.
Our assurance of compliance with International Financial Accounting Standards.
Our experience has taught us that services offered by outsourcing companies, usually do not consider routine matters and at first glance, do not seem important while establishing an integral support.
Consequently, Crowe Horwath Outsourcing is available to give backup support on administrative tasks that have not a specific definition and it aims to the delivery of a better Company performance. Such is the case of the processing of documents, updating customer databases, translations, and payments in institutions, registration in mandatory records and many other details that consume a large amount of time to management.