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The Company Statements module opens all company statements (ASIC Form 480) that your practice has received from ASIC (see Receiving forms from ASIC).
Company statements have the following columns:
Corporation
Code (from MYOB AE/AO)
Review Date (annual date for the review of the corporation’s details)
Payment Due Date (due date for payment of the annual invoice, which is within two months of the review date)
ASIC Forms in Progress (if there are any forms that have been drafted and awaiting lodgement, as listed in the In Progress list in the ASIC Forms module)
Status (as set on the Change Status screen)
Date Received (date that the company statement and invoice was downloaded from ASIC).
The Company Statements list has options to filter the list of statements displayed. You can select to view the list by:
Date received and/or
Company statement status.
From the Company Statements screen you can also:
Process your company statements (see To process company statements received), so that you can pay the annual review fee and make any corrections to company data on time.
Compare the company statement with the company’s current details (in the corporation detailed report) as they appear in Corporate Compliance. Select one of the following:
If you find differences between the company statement and the company’s data in Corporate Compliance: Enter the changes in an ASIC form using one of the workflow wizards (see Workflow wizards). Ensure that you mark the form as being in response to a company statement when you complete the wizard. Print the form from the ASIC Forms module. (Click View form and print it from the Print preview screen). Send the following documents to the company:
ASIC form: request that the signed form be returned within 28 days of the company statement’s date of issue
company statement invoice: request that payment be sent to you and that a solvency resolution be made within two months of the review date. If the company is not able to make a resolution in relation to its solvency, or it fails to do so on time, it must lodge ASIC Form 485 (not yet supported in Corporate Compliance).
If you do not find differences between the company statement and the company’s data:
Send the following documents to the company:
printed company statement: request that the data be confirmed or changed within about 14 days of the date of issue of the company statement. (If corrections need to be made to the company’s data, see Step 10.a.)
company statement invoice: request that payment be sent to you and that a solvency resolution be made within two months of the review date.
If the company is not able to make a resolution in relation to its solvency, or it fails to do so on time, it must lodge ASIC Form 485 (not yet supported in Corporate Compliance).
If the client advises that the ASIC data is not correct: Change the status of the company statement to Changes to be notified. Enter the changes into a form using a workflow wizard.Send the form to the client for signing, and advise them that the changes must be lodged with ASIC within 28 days of the company statement issue date. When you receive the signed form, lodge it with ASIC. Change the status of the form to Changes form lodged.
If the client confirm that the company statement is correct, proceed to the next step.
When you receive the annual review fee from the client, forward the payment to ASIC within two months of the review date.
Payment of the annual review fee indicates that the company has made a solvency resolution within two months of the review date. If the company is not able to make resolution in relation to its solvency, or it fails to do so on time, it must lodge ASIC Form 485.
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