Allgaier Werke (Automotive)

Financial Management, Accounting and Controlling for ALLGAIER Werke GmbH in China

The ALLGAIER Werke GmbH, Uhingen, is a leading system supplier of the international automotive industry, specialized in the production of auto body tools, stamping parts and ready-to-install components. In addition mechanical engineering and construction of apparatus for process engineering form a second business division. With totally 1,900 employees the ALLGAIER Group is represented with various own production and trading companies.

In order to achieve better supply and service for the booming Chinese automotive market, ALLGAIER Automotive Tool & Die (Beijing) Co. Ltd. was established in 2010. Since then FE Beteiligungsgesellschaft (Shanghai) Co. Ltd. is responsible for the accounting, cash management as well as for the cost controlling of ALLGAIER’s subsidiary in China. Among others, FE is in charge of following tasks:

1.) Daily Management of Payments and Cash

  • check and execute employees’ reimbursement of expenses
  • execute cash book-keeping and essential bank book-keeping
  • execute and control the whole payment procedure
  • correspondence with banks and administration of bank documents

2.) Issue invoices as well as check and book all incoming/outgoing invoices

3.) Payroll Accounting as well as declaration of employees’ income tax and social insurance

  • monthly calculation, booking and payment of employees’ salaries
  • monthly declaration of individual income tax and social insurance

4.) Calculating and executing the declarations of corporate tax (VAT, enterprise income tax, business tax etc.)

5.) Making up and submitting monthly financial report to ALLGAIER Germany, incl. up-to-date balance sheet as well as profit and loss statement

6.) Preparing annual financial statements to be audited by nationally certified public accounting firms and to be submitted to and approved by examination authorities

7.) Submitting legal tax declarations and executing of import&export business, incl. declarations of foreign exchange, import&export and tax rebate

8.) Management, booking and controlling of the company’s stock and inventory

All the tasks mentioned above are executed in coordination with the financial management of ALLGAIER Germany, which has entrusted FE as a local service provider and controller.