Paul Erdmann Partner Rosenheimer Str. 33 83064 Raubling Phone: +49 (8035) 968-211 Fax:    +49 (8035) 968-250 E-Mail: paul.erdmann@wts.de

The services provided by WTS Wirtschaftstreuhand Steuerberatungsgesellschaft mbH / Accounting Services are:

Continuous bookkeeping

• Automated or manual posting of bank receipts and payments
• Monthly gross pay processing (manual or automated)
• Recording of cash movements
• Creation and sending of the preliminary VAT return
• Extension applications
• Statistical reports
• Operational accounting and cost center accounting
• Continuous account reconciliation – general ledger/customers/creditors
• Recording and valuation of capitalizable assets and completion of the monthly write-down runs
• Valuation of inventories and posting of the monthly change in inventories
• Accrual postings for recording of expenses and income by period within the fiscal year
• Processing of provisions within the fiscal year
• Creation of monthly evaluations for internal reporting
• Consolidation of individual accounting areas (if necessary)
• Switching accounts from standard commercial practice to international valuation (IFRS, US GAAP)

Financial accounting/processing of payment transactions

• Daily posting of incoming invoices
• Processing of payment transactions in consultation with the customer
• Daily posting of outgoing invoices
• Management of the dunning process in consultation with the customer

Preparation of annual financial statements/consolidated financial statements

• Preparation of the balance sheet and income statement using the process cost or cost-of-sales method
• Fixed assets movement schedule
• Short- and long-term liabilities movement schedule
• Preparation of the notes and statement of cash flows
• Assistance with the preparation of the management report
• Submission to the commercial registry and publication in the Federal Gazette
• Preparation of consolidated financial statements using the “Konsys” system software

Support with accounting activities on-site

• Preparation of annual financial statements or assistance with the preparation of annual financial statements – temporary
• Development/installation of a financial accounting system for new companies and spin-offs (including the IT interface)
• Assistance with the move to a new financial accounting software system or the preparation of a reorganization
• Preparation of special-purpose balance sheets in connection with spin-offs, transfers and mergers
• Assistance with the preparation of consolidated financial statements
• Assistance with continuous bookkeeping tasks

Payroll accounting

• Payroll accounting (gross-net accounting) for each employee including sending income statements to employees’ private addresses or together to the employer
• Preparation of income tax certificates at year end or when an employee leaves the company
• Preparation of a range of other certificates (such as sickness benefit, certificate of employment, etc.)
• Management of payroll accounts
• Archiving of payroll accounting documents (for example payroll account, income statement, income tax certificates, directive on electronic data collection and transfer) as required by law
• Processing of irregularities such as absence times, appointments, transfers and departures, changes to master data, loan management, partial retirement, special purpose payments, severance pay, assignment allowances, accommodation allowances, company cars (income tax and VAT aspects), company credit cards, maternity rights, parental leave, military service and alternative civilian service, applying tax to taxable meals per diem, compensation for time spent traveling, advance payments as directed by the work community, company insurance policies, garnishment
• Contact for employees in matters of payroll accounting
• Contact for the tax office, health insurance companies, etc.
• Support during income tax and social security audits
• Completion of backbilling, retroactive accounting and adjustments
• Year-end tasks for each employee (review of social security obligation, transfer of personnel master data, etc.)
• Evaluations such as posting list or interface data set for bookkeeping
• Master data for each employee (monthly, quarterly, annual)
• Monthly and annual payroll journal, employment tax notifications to the tax office (electronic transfer), statement of contributions paid for health insurance companies, etc.
• Transfer form (file) for all payments for the bank (pay, social security, income tax, etc.)
• Vacation/sickness/days of absence statistics
• Total pay for purposes of employers' liability insurance

Human resources support

• Contact for employees and managers in respect of all human resources matters (by phone, e mail and, if requested, on site as well) in line with the contractual regulations and any company guidelines that might be drawn up
• Contact for an existing or newly established works council in respect of all human resources matters
• Advice on and processing of appointments, departures and transfers
• Contract matters excluding legal verification, authoring of references
• Management of pay negotiation rounds
• Supervision and updating of operational and collectively agreed regulations and works agreements
• Assistance with human resources statistics
• Maintenance of personnel files
• Processing of internal and external written correspondence

Travel expense accounting

• Processing accounts for travel approved by executive management
• Application of the fundamental company guidelines
• Compliance with the latest applicable statutory provisions
• Posting slips for bookkeeping (or online)
• Copies for manager and employee for reference
• Submission of taxable and tax-exempt payments to payroll accounting

General starting point

WTS Wirtschaftstreuhand Steuerberatungsgesellschaft mbH specializes in accounting services. We have particular expertise in the preparation of individual annual financial statements and consolidated financial statements, payroll accounting and support for human resources operations, and are also able to offer travel expense accounting services.

How and why WTS?

WTS Wirtschaftstreuhand Steuerberatungsgesellschaft mbH can provide its accounting service on site at the customer’s premises or from its own offices as required. The service includes daily posting of all business transactions and the processing of payment transactions and dunning routines.

WTS Wirtschaftstreuhand Steuerberatungsgesellschaft mbH generally uses the DATEV software package for both bookkeeping activities and payroll accounting. Some customers provide us with access to an SAP system, and in these cases we use this system for the customer’s accounting operations.

Our customers are drawn from DAX-listed international companies and small and midsize private companies and stock corporations. We have already acquired substantial experience in working with startups, for which we typically plan and establish the entire accounts organization. This includes drawing up individual charts of accounts with corresponding account control, setting up the interfaces between accounts and adjacent areas (materials management, invoicing, gross pay entry, etc.), creating workflow plans and schedules and organizing and coordinating all of the other processes necessary for an efficacious accounting regime.

We complete all of these tasks using our own personnel: you need not employ anybody in this area, and are therefore spared any worries about employee leave or sickness. You have access at all times to a contact who can assist you with any relevant matters of concern to you or your employees and can be confident that any audits conducted by corporate auditors or the tax office will not lead to bottlenecks in your organization. Your monthly, quarterly and annual financial statements are ready on time and your employees receive their remuneration promptly and reliably.

We are also able to prepare, or help you to prepare, special-purpose balance sheets and consolidated financial statements. Individual and consolidated financial statements can be drawn up under HGB, IFRS or US-GAAP.