What XTROVERSO provides

1. Secure client dashboard

XTROVERSO provides access to a secure digital administration environment.

Through the dashboard, the client can:

• upload purchase invoices, receipts and supporting documents;
• create and issue sales invoices;
• review invoices, payments and outstanding positions;
• follow the processing status of submitted documents;
• review bank transactions and document matching;
• identify missing documents and unresolved transactions;
• access the reports included in the selected package.

The dashboard provides continuous access to the administration. It does not replace the recurring checks, reconciliations and reporting performed by XTROVERSO.

The client remains responsible for supplying complete and accurate information and for approving its own commercial and management decisions.

2. Invoice, receipt and document processing

XTROVERSO processes and checks the invoices, receipts and supporting documents supplied by the client.

The work includes:

• checking whether documents are readable and complete;
• checking supplier and customer information;
• checking invoice dates, amounts and invoice numbers;
• identifying duplicate or inconsistent documents;
• checking the applied VAT rate and VAT amount;
• identifying reverse-charge, intra-Community and other non-standard transactions;
• classifying transactions in the appropriate accounts;
• matching documents with the corresponding bank transactions;
• maintaining a traceable digital document file;
• reporting missing documents and unexplained transactions.

A document is not considered administratively complete merely because it has been uploaded or recognised by the software.

3. Bank processing and reconciliation

XTROVERSO processes the available bank transactions and reconciles them with the underlying administration.

Transactions are matched, where applicable, with:

• issued sales invoices;
• received purchase invoices;
• receipts and expense documents;
• payroll payments;
• tax payments;
• director and shareholder transactions;
• other documented business transactions.

The purpose is to maintain a direct and traceable connection between the accounting record, the supporting document and the corresponding movement of funds.

Unmatched, unexplained or inconsistent transactions are reported to the client for clarification.

4. VAT administration

XTROVERSO maintains the underlying VAT administration for each applicable reporting period.

This includes:

• checking the VAT treatment recorded for processed transactions;
• correcting administrative VAT coding errors;
• reconciling the VAT control accounts;
• comparing the VAT position with the underlying documents;
• identifying missing documents and inconsistencies;
• recognising transactions requiring specific fiscal assessment;
• preparing the complete VAT position and supporting file;
• closing the administrative VAT period.

XTROVERSO remains responsible for the completeness and correctness of the VAT administration based on the documents and transaction information supplied by the client.

Where the correct treatment depends on missing information or professional fiscal interpretation, the matter is referred to Pavan Geraedts Adviseurs before the return is finalised.

5. Quarterly VAT review and filing

The quarterly VAT process is included in both the sole proprietor and B.V. packages.

After XTROVERSO has completed and reconciled the VAT administration, Pavan Geraedts Adviseurs:

• performs the final fiscal review;
• assesses corrections and exceptional transactions;
• confirms or corrects the VAT calculation;
• prepares the VAT return;
• files the return with the Dutch Tax Administration.

The professional review by Pavan Geraedts Adviseurs does not remove XTROVERSO’s responsibility for maintaining a complete and correct underlying administration.

6. Periodic accounting closing

Where included in the selected package, XTROVERSO performs a structured closing of the administration.

The closing may include:

• reconciliation of bank accounts;
• review of outstanding customer and supplier positions;
• reconciliation of VAT accounts;
• review of payroll-related entries;
• review of relevant balance-sheet movements;
• review of director and shareholder positions;
• identification of missing documents and unexplained transactions;
• correction of administrative inconsistencies;
• formal closing of the reporting period.

For a B.V., a structured accounting closing is performed after each quarter.

A closed reporting period provides the basis for the VAT return, Management Information Report and subsequent year-end work.

7. Quarterly Management Information Report

After the quarterly administration has been processed and the VAT period has been closed, XTROVERSO prepares and sends a Management Information Report, or MIR, to the client.

Depending on the client category and available information, the MIR may include:

• turnover and revenue development;
• direct and operating costs;
• gross margin;
• operating result;
• outstanding customer positions;
• outstanding supplier positions;
• liquidity information;
• relevant balance-sheet movements;
• payroll costs;
• VAT position;
• director and shareholder positions;
• missing documents;
• administrative exceptions;
• matters requiring attention before the next reporting period.

The MIR is prepared from the administration after the relevant controls and reconciliations have been completed. It is not merely an unreviewed software export.

The standard MIR provides structured management information. It does not automatically include forecasts, scenario modelling, financing advice, tax planning or a separate advisory meeting.

8. Employee onboarding and payroll files

Where payroll administration is included, the client receives access to a digital environment through which new employees and payroll changes can be submitted.

XTROVERSO performs an administrative onboarding check, including, where applicable:

• checking the identity information supplied;
• checking the completeness of personal and payroll data;
• checking the required employment documentation;
• checking the supplied documentation concerning entitlement to work;
• identifying missing or inconsistent information;
• creating and maintaining the employee’s payroll file.

This is an administrative employment-file check. It is not an investigative background screening, suitability assessment or juridical or immigration opinion.

Any matter requiring professional assessment is referred to Pavan Geraedts Adviseurs or another appropriate specialist.

9. Payroll processing and standard employment documentation

XTROVERSO processes the payroll using the employee information, approved working hours and payroll changes supplied by the client.

The service includes:

• collecting and processing approved working hours;
• processing salary changes and payroll mutations;
• processing holiday allowance, leave and agreed payroll components;
• calculating gross-to-net remuneration through the payroll system;
• generating a payslip for each payroll period;
• securely making payslips available to employees;
• maintaining the payroll administration;
• processing onboarding and outboarding information;
• preparing and issuing the annual income statement, or jaaropgaaf.

Where agreed, XTROVERSO may prepare a standard employment contract using the information, employment conditions and approved instructions supplied by the client.

Bespoke contracts, director’s agreements, non-standard clauses, dismissal arrangements and employment disputes require separate juridical assessment.

The client remains responsible for deciding whom to employ, determining the employment conditions, approving working hours and payroll changes, and reporting sickness, leave and termination on time.

10. Year-end services for a sole proprietor

For a sole proprietor or ZZP professional, XTROVERSO:

• completes the annual administration;
• reconciles the bank accounts;
• reviews outstanding customer and supplier positions;
• resolves remaining administrative differences;
• reconciles the relevant balance accounts;
• prepares the year-end accounting file and supporting documentation.

Pavan Geraedts Adviseurs then:

• prepares the simple year-end balance;
• determines the business result for income tax purposes;
• calculates the income tax position;
• prepares the income tax return;
• files the return with the Dutch Tax Administration.

The standard year-end balance and income tax return are included in the sole proprietor package.

Additional work may be required where the records are incomplete or the client has foreign income, substantial private assets, previous-year corrections or other complex fiscal circumstances.

11. Annual accounts and corporate income tax for a B.V.

For a B.V., XTROVERSO:

• completes and reconciles the annual administration;
• closes the administrative accounts;
• reviews the completeness of the supporting documentation;
• prepares the year-end accounting file;
• makes the required administrative information available to Pavan Geraedts Adviseurs.

Pavan Geraedts Adviseurs then:

• calculates and prepares the annual balance and annual accounts;
• presents the annual accounts for approval and adoption;
• prepares the standard documentation required for adoption;
• coordinates the signing and formal recording of the annual decision;
• files the applicable annual accounts with the Dutch Chamber of Commerce;
• calculates the corporate income tax position;
• prepares the corporate income tax return;
• files the return with the Dutch Tax Administration.

These standard annual services are included in the B.V. package.

An audit, review, assurance engagement, consolidated financial statement, complex group report or reconstruction of incomplete previous financial years is not included unless expressly stated.

12. Standard corporate and dividend process

The B.V. package includes the standard annual shareholder or general-meeting documentation connected with the approval and adoption of the annual accounts.

Where the company decides to distribute a dividend, Pavan Geraedts Adviseurs performs the standard dividend process, including:

• calculating the proposed dividend;
• reviewing the relevant available reserves;
• preparing the standard dividend calculation;
• preparing the required shareholder and board documentation;
• documenting the applicable approval process;
• calculating the dividend withholding tax;
• preparing and filing the dividend withholding tax return where required.

The client’s shareholders and board remain responsible for the decision to distribute a dividend and for performing the applicable approval and distribution tests.

Cross-border dividends, disputed distributions, complex shareholder structures and distributions involving insufficient or uncertain reserves require a separately defined scope.