VPN Access to Accounting
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Raoul P.E. Schweicher
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Every company in China is required to file monthly, quarterly, and annual compliance requirements. It is crucial for foreign-invested enterprises to ensure that they meet these requirements to avoid penalties and ensure the continuation of their operations in China. Especially with the implementation of the Corporate Social Credit System, non-compliance will be identified quicker and have far reaching consequences. Therefore, full transparency of- and control over your finances are of utmost importance.
By law, China requires all digital financial data of companies to be stored on servers in China, which could make it difficult for the headquarter abroad to get a complete, clear and timely image of the subsidiary’s finances.
To better address the needs of our clients, we have setup a direct and encrypted VPN solution. This VPN connection is a licensed and official solution for companies abroad to access their accounting data at any moment and from anywhere. As of June 2020, our VPN solution is available to all our existing- as well as new clients and can be activated without time delay and uses industry-grade encryption ensuring that data can only be viewed by the recipient holding the decryption key in your company.
This is an ideal solution for foreign-invested companies wishing to keep timely, continuous, and ongoing insight into their Chinese operations.
Our VPN Solution
Using our VPN will provide you real-time access to the following reports and data:
- Balance sheet
- Income statement
- Complete financial entry books
- Full details on individual financial entries
- Totals and balances report
- Accounts receivable/payable aging report
- Fixed assets report