Advice on SPV links

Advice on SPV links

Didn't find your answer?

Hi there, 

I am a bookkeeper who is feeling a little out of her depth... 

I have a new client who is operating their company through several SPVs. There is no main bank account, so all invoices are paid via the directors other bank accounts (company, personal... you name it.) so I guess that I need to enter any funds or payments from a payable directors loan account per director?

The accountant advised me to set up 'projects' in quickbooks for a few of the SPVs, but I gather the entire point of an SPV is to create distance legally, so before I set up an  unreconcillable system I wanted see if this is sounded right, because it isn't sitting right with me! 

The others I'll get up on Sage with intercompany accounts. but what's throwing me is that they've been operation for two years without bank accounts.

Replies (1)

Please login or register to join the discussion.

RLI
By lionofludesch
08th Apr 2015 20:22

Ideal question for Captain Black to deal with.

Thanks (0)