Choosing the right accounting software can make a world of difference for your business. The right tool helps you stay organised, save time, and reduce the risk of errors, but with so many options available, it’s easy to feel overwhelmed. Start With Your Business Needs Before diving into features, think about what your business […]
When it comes to managing your business finances, understanding how income and expenses are recorded is essential. Two of the most common accounting methods are cash accounting and accrual accounting, and choosing the right one can impact everything from cash flow to tax reporting. Cash Accounting This method is straightforward: you record income when […]
Getting audited sounds intimidating, but if you’re prepared, it doesn’t have to be stressful. Here’s what small business owners should know about audits and how to handle them with confidence. 1. Why Do Businesses Get Audited? Audits can happen for various reasons, such as random selection, inconsistencies in tax filings, or claiming unusually high […]
The end of the financial year (EOFY) is a crucial time for businesses to finalise accounts, meet tax obligations, and set the stage for the next financial year. Here’s a simple checklist to ensure you’re financially prepared before March 31. Don’t worry, if you are one of our clients we will email you a thorough […]
A steady cash flow is the lifeblood of any business, and one of the easiest ways to keep it flowing smoothly is by mastering your invoicing process. Here are a few simple invoicing tips to improve cash flow: 1. Set Clear Payment Terms Make your payment terms clear from the start. Specify due dates, late […]
As a small business owner, you know the importance of having someone take care of your finances, especially when doing taxes. Let’s face it, you started your own business to do what you love, not be bogged down with figures and numbers. So, have you ever wondered what the difference is between a bookkeeper […]
Tax time is just around the corner and this last year hasn’t exactly been an easy one for most NZ businesses. What with lockdowns, supply chain issues, and inflation, it’s nice to know that the Government understands the effect that COVID-19 has had on small businesses and is providing tax relief and income assistance […]
Everybody loves a deal, don’t they? We’ve made it through Christmas and the Boxing Day sales, next up is the New Year sales, followed by Waitangi Day deals, then Valentines Sales, the list goes on. It almost seems like consumers would be crazy to pay full price for items when they can just wait […]
The clocks have changed, flowers are blooming, lambs are skipping, and the mercury is rising; all signs that spring is in the air. Tradition tells us that this is the time to have a good clean-up and clear out of your house, but what about dusting off the proverbial cobwebs from your finances? Setting aside […]
Here in New Zealand, it’s important to acknowledge that we have been luckier than other nations in terms of our COVID-19 situation. However, the situation is still present here and is still affecting people and businesses. IRD have said that if you are unable to pay personal or business taxes on time due to any […]