Cash Management Services

Here at PKF JAPAN, we provide outsourcing services to fulfill our clients’ finance-related requirements, including payment facilitation and fund management services, to meet their cash management needs. These services include collection, processing, handling, and payment management, allowing you to focus your management resources on your core business while we seamlessly manage your day to day cash flow. Using our large team of qualified and experienced staff, we implement effective transaction monitoring to provide you with the assurance that we will securely manage your cash.

However, cash management is not the only Business Process Outsourcing (BPO) service that we offer. Combining this service with our other outsourcing services, in particular, our bookkeeping services, would deliver to you benefits of scale and help make your business processes more efficient and effective. We provide a one-stop accounting support service for Japanese corporations and branches, delivering a quality service that is comparable to the other major accounting firms but brought to you at a reasonable price.

Payment Agency Services

We offer a transfer agency service, acting as a transfer agent for our clients, under one of the following authorization structures. In the first option, our client handles the preparation work for their cash transactions and delegate their Internet Banking Authority to us to fulfill their instructions. In the second option, our client delegates all cash management tasks to us, from the initial transfer preparation work through to the approval procedures.

In addition to managing the transactions associated with daily procurement, expenses, and outsourced remittances, we can also process payroll transfers.

Over The Counter Payments

We also offer a cash handling service, undertaking all payment processing activities related to making and receiving the cash payments. These services can range from petty cash management through to facilitating payments for charges such as corporate tax, consumption tax, resident tax, and expenses for public utilities that require payment over the counter.

Cash Management Terminology

Before we start the conversation to determine how best we can help you, it is essential that we are speaking the same language when it comes to your financial transactions. The terminology used may vary depending on the bank that you use, as will the processes and timing for the flow of payments. We base the terminologies and processes that we follow upon those used in a typical internet banking system in Japan. For example, the following terms are related to cash management:

  • Payment Date: This is the date recorded when a payment transaction is submitted.
  • Cutoff date: This is the date by which you should submit a payment request. Usually, this will be five (5) business days before the Authorization Date.
  • Authorization date: This is the date when an internet banking payment is authorized.
  • Ad Hoc Payments: This is an unscheduled or urgent payment required outside of the regular payment requests.
  • User: Any person who prepares a transaction by inputting the Payment Date and Payment Amount using an internet banking facility. The User has no authority to approve the payment.
  • Authorizer: Any person who has the authority to approve payments on the internet banking facility. The Authorizer may also have administrative authority.

Preliminary interviews for CASH MANAGEMENT Services

Before we offer our services, our team at PKF JAPAN will typically schedule an initial consultation with potential clients to ensure that we fully understand their business, identify the most appropriate options for their individual needs, and allow us to provide an accurate quotation. We may ask you for copies of the following documents to help this process:

  • The name of the bank that you use for your business transactions, indicating if there is more than one.
  • The average number of cutoff dates per month that you have, or the required payment frequency. You may choose multiple payment dates, and ad hoc payments are always available upon request.
  • Any requirements that you may have for us to prepare your tax payments. In practice, payments for taxes and duties are not done through internet banking but instead done over-the-counter, as in the case of the remittance of any due withholding tax or residence tax.
  • The average number of vendor invoices that you pay each month, excluding salaries and taxes.
  • For the payment processing services, details of the persons who will be authorized to have access to the internet banking facility should this be required. You will need to identify all the designated Authorizers and install their Japanese bank’s digital certificates on their computers. We suggest you consider one of the following authorization options:

    Option A: PKF JAPAN serves as both the User and the Authorizer
    We recommend this option if you do not want anyone in your Japanese office to have access to the Company’s internet banking facilities. We will be responsible for the authorization of payments based on our correspondence with you.

    Option B: PKF JAPAN serves as the User, while your Company serves as the Authorizer
    We recommend this option if you only require us to handle the input of data into your internet banking facility and want your office staff to have authorization control.

    Option C: PKF JAPAN serves as the User, and your parent company or head office serves as the Authorizer
    We do not recommend this option unless you have staff at the parent company or head office who are fluent Japanese speakers and can thoroughly understand and operate the internet banking facilities provided by a Japanese bank.

  • If you require us to have custody of your passbook and bank seal, which would transfer sole access for all manual payments over to PKF JAPAN. We would only recommend that you consider this option if you need to prevent your staff from performing manual transactions. In this scenario, you will be unable to perform any urgent over-the-counter payments using your staff. Please note that we may charge additional fees for ad-hoc transactions.

Service Features

Our CASH MANAGEMENT services boast the following four major features:

Quality and security through our internal triple-check system

We recognize that managing your cash transactions is a highly sensitive undertaking, which is why we ensure the quality and security of our services using an in-house triple check payment system. These checks deliver the assurance that your money is safe in our care, relieving you from needing to entrust the management of your company funds to young and newly hired staff. We have a designated team that carries out these checks, independent from the team who implement your day to day cash management tasks. We operate our business by paying close attention to the quality and security of our services using this triple check system.

Integrated bookkeeping and payroll services

Many of our clients who request payment agency services are require bookkeeping and payroll services. By overseeing the preparation of the accounting books and payroll calculations, we can deliver an efficient integrated payment service. This combined service will provide operational efficiencies for your business, allowing you to focus your management resources on your core business while we seamlessly manage your bookkeeping and payroll needs.

An ability to provide fast, agile and effective support

PKF JAPAN’s team of specialized consultants are light on their feet. We are a fast and agile service provider, reacting to our clients’ needs whenever required, and delivering effective solutions. We recognize that it is essential for our clients that we swiftly complete our work when it comes to back-office operations, which is why we guarantee fast and decisive processing of payments. We have put together an integrated team of Certified Professional Accountants (CPA), Enrolled Agents (EA), Tax Advisors, Lawyers, Certified Social Insurance and Labor Consultants, Legal Advisors, Business and IT Support Staff, Bookkeepers and Administrative Assistants who, between them, can provide the services that you require.

An ability to offer multilingual services and support

Here at PKF JAPAN, we employ bilingual staff who are proficient in the major languages for international business, including English and Chinese. Over recent years we have seen an increase in both foreign business expansions into Japan and the overseas business expansions of Japanese enterprises. In such an evolving business environment, we are proud to be able to offer our accounting services in both English and Chinese to enhance and expand the support that we can provide to our clients.

Meet the Partners

Jun-Kurozumi

Jun Kurozumi

PKF Shiodome Partners

Partner

Akinari-Tsuchiya

Akinari Tsuchiya

PKF Shiodome Partners

Senior Partner

Yuya-Hasegawa

Yuya Hasegawa

PKF Shiodome Partners

Senior Partner

Ryuta-Sato

Ryuta Sato

PKF Shiodome Partners

Senior Partner

Shuske-Hirano

Shusuke Hirano

PKF Shiodome Partners

Senior Partner

Ryota-Matsuhashi

Ryota Matsuhashi

PKF Shiodome Partners

Executive Officer

Yusuke-Maekawa

Yusuke Maekawa

PKF Shiodome Partners

Executive Officer

Mitsuaki-Kanamori

Mitsuaki Kanamori

PKF Shiodome Partners

Director

Koichi-Sato

Koichi Sato

PKF Shiodome Partners

Senior Advisor

Hirofumi-Miyake

Hirofumi Miyake

PKF Shiodome Partners

Senior Manager

Ryo-Mitsui

Ryo Mitsui

PKF Shiodome Partners

Manager

Naoki-Kametani

Naoki Kametani

PKF Shiodome Partners

Manager

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