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Covid-19 Protection Framework

Today the Government announced changes to the COVID-19 Protection Framework, or Traffic Light System. The current Omicron outbreak has peaked in Auckland, with the rest of the country to follow suit. However, modelling suggests there will always be several thousand positive cases in our community. Therefore, the changes to the Traffic Light System can be reviewed at times where there is future spikes and new variants. Businesses are encouraged to be prepared for possible changes as COVID-19 prog...

Collect Your debtors faster

Did you know that you still have to pay tax on your debtors, even if you haven’t yet collected them? This is because you pay tax on your sales figures, whether you’ve collected the cash or not.So, how do you collect your debtors faster? Agree your payment terms at the time of sale.Ensure your customer signs your Terms of Trade before you start the job.Include a guarantee in your payment terms.Invoice as quickly as you can, as soon as the work is completed.Ask for a deposit prior to starting ...

End of Financial Year

If this is your financial year end, now's a good time to begin reviewing your ledgers, and all of your accounts, chase up any invoices or receipts you should have kept for your records.Did you purchase any new assets this financial year? Make sure you have copies of the receipts/invoices.Review all of your outstanding invoices owed to you in your business, it's good business practice to get them paid before year end. Outsource this if needed.Home office expenses, if you have a home office, make ...

New financial support for businesses affected by Omicron

Businesses struggling with revenue during the Omicron outbreak can apply for new targeted funding, as announced by the government on Monday 21st February. Applications for the first payment open on February 28, with payments starting from March 1.There will be 3 payments in total, available on a fortnightly basis. The new scheme is based on the understanding that the Omicron outbreak will pass over about 6 weeks. This scheme may be extended. Each COVID Support Payment will be $4000 per business ...

Know your numbers - Your Balance Sheet

Knowing your numbers is vital to business success. The Balance Sheet is arguably the most important report, as it measures whether your business's worth is increasing or decreasing. It illustrates the overall financial health of your business; whether it is funded appropriately, if there’s enough cash to pay the bills, and what the owners would have left if it was wound up tomorrow. Profitable businesses can, and do, go broke if they have a weak Balance Sheet. Three common scenarios: 1. Growi...

Our Business Planning Service

Success is about planning; we want to help you achieve success. It’s essential to take time out from the day-to-day activities in your business to focus on your business; setting goals and establishing strategies to unlock your business potential. At the end of the session, you’ll have a one page Business Plan to act as a guide map to ensure you’re on course for success.Every business must have a Business Plan. During the four-hour Business Planning session, you’ll:Discuss and set both p...

Time to Review 2021 and Plan for 2022!

The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement. Last year, there were inescapable impacts on businesses, with some thriving, others failing, and others just getting by. So what kind of year was 2021 for your business? Take the time to review the year and acknowledge all that has happened, good, bad or indifferent. Examining the year with an o...

Five things all employers should consider as Christmas approaches

As the holiday season approaches, take some time to think about how you want to structure the operation of your business. A bit of planning will ensure you avoid paperwork mishaps and breaches of the Holidays Act 2003. Taking time out over the summer? You can have an “annual closedown” for your whole business or part of it but give employees at least 14 days’ notice in writing. You can ask staff to take their existing annual leave. If they don’t have leave left, they can take leave witho...

Our Management Reporting Service

Regularly reporting and monitoring your results leads to better decision making. The more you understand your business, the easier it is to make more money or reduce your hours. Get in touch for more info about our Management Reporting service.'What gets measured gets managed.' - Peter Drucker If you're not measuring your financial results and the key drivers of your business, you can't properly manage them or implement meaningful improvement strategies. Our Management Reporting service helps yo...

Bookkeeping Tips To Help You This Holiday Season

As Christmas fast approaches, businesses everywhere are likely to see a much quieter period as employees and clients alike take time off for the break. This also means that the revenue of small businesses is likely to reduce, and most likely will continue into January as people recover from New Year festivities returning to work slowly mid January. Plus, with staff and client celebrations, your business expenditure is likely to increase. This is the time when many businesses lose out from not ha...

Outsource locally or overseas - That is the question

I have written about this before, however I feel it is as important now than ever before. Have you ever asked where your work is being handled? Is it disclosed to you? If should be especially if you care about this in your business. Outsource extra work to save time and resources so you can concentrate on building your business! Everyone loves saving money, me included.  Yes, you can get a bargain sometimes, especially if you know where to look. The problem is when you start looki...

Our Meaning - Beyond Your Numbers

I have been asked from a few people lately about what our company name means, Beyond Your Numbers, what we stand for and what makes us so different. Then the comments we are getting back from clients, people we are meeting reflects what and who we are as people and as a company and what our meaning is. So I thought I would share some of these. There is a lot to us, so see the video link below to find out more....

How teamwork helps you grow your business

When you start out in business you do everything yourself, try to learn everything, are everything to everyone. The margins are tight and you want control. However you cannot sustain this for ever.It is not until your business grows that you realise that you do way too much and burnout starts to kick in, That is when you realise you now need help. As you take on more work that means you have less time to invest in billable tasks if you are the most expensive non billable person in your busi...

Covid-19 Lockdown Financial Support Factsheet

Following our online bookkeepers meeting yesterday afternoon, please see attached for you to download a factsheet for you as well as some details below. Where possible please still pay your suppliers, remember the payments wheel still needs to go around. If we all stop payments, then no one will be able to pay suppliers and their staff. Staff need to be paid from the subsidy received if applied for to the minimum of 80% - best endeavours or to 100% if and where possible – remember to get an a...

Financial Support for Businesses

There is a range of financial support that will be rolled out over the coming days to support businesses. We've collated the essential information on these support options in a factsheet for you. Click the button below to download a copy of the factsheet. The Wage SubsidyThis is available nationwide whenever anywhere in the country is put into Alert Level 3 or 4 for a period of at least 7 days. When Will It Be AvailableThe government has suggested that applications will be open vi...

Claiming lunch as a tax deduction - Simplified

Next time you grab a coffee or a meal at your local cafe between back-to-back client meetings and think about claiming this as an expense because you are self-employed and it’s just part of your work day, think again. Inland Revenue has confirmed that these expenses are not deductible for self-employed taxpayers in all but very limited circumstances. As per my previous post, there are over 37 pages to interpret Statement IS 21/06 – Income Tax and GST - Treatment of Meal Expenses. So, be...

New Sick Leave - Some tips

There are some misconceptions around the new sick leave legislation, here are some tips for you: Sick leave is paid time off work if an employee, their spouse, partner, dependent child, or other person who depends on them is sick or injured. Minimum sick leave entitlements increased from 5 to 10 days per year from 24th July 2021. All employees, including part-time and casual employees, are entitled to 10 days' sick leave per year if: they have six months’ current continuous employment wi...

How Does a Bookkeeper Help Your Business

A great bookkeeper can help you reach the next level of growth in your business. Instead of having to focus time on your bookkeeping, hiring a bookkeeper instead allows you to focus on the core reasons you went into business in the first place. This now frees you up so you can keep your eyes on the long term goals of the business. When you use a bookkeeper in your business, things will become a lot more clearer and accurate as well. Not all bookkeepers are created equal, therefore not everyone c...

Value added to our clients

This month has seen great results for our clients making me incredibly proud of what we do. Our first client They sell goods locally and overseas. Her GST returns previously were not reflecting this and GST on sales and expenses were not correct. When we became involved we recalculated her returns. As a result - a GST refund of over 10k. Second client This client is a tradie and has retentions on his jobs. He was wanting to track these so I setup a separate code in the chart of accounts in the ...

Multi-factor Authentication with Xero

Some of you may have realised that Xero has instigated compulsory Multifactor Authentication for logging into their software.  You can either use a generic authentication app or Xero have made their own app to help with this. Xero Launches Xero Verify Xero has launched its own authentication app, Xero Verify, to give small businesses world-class data protection. The new app makes it easy for users to set up multi-factor authentication (MFA) on their Xero accounts. It eliminates the need for...

Why do you need us?

This week I was told by a client I had a great business. "Thanks so much" I said then thought about what that meant to them and also to me. I did feel quite proud actually, proud of what I provide them as the client and how as a Qualified Bookkeeper we can can provide the services we do. What we offer our clients is above and beyond expectations and this is what is relayed to me a lot by our clients and what I pride myself on. So, why do you need us? We can give you back your time Having the add...

Bookkeepers Value in Your Business

I have written about this before in 2020, but this has proven to be highlighted again to me this week what value a great bookkeeper has compared to someone who tells you they are a bookkeeper. So why can a great bookkeeper be worth so much to you and your business? If they are accurate and consistent they will save you a lot of time and money. It is amazing how accurate your accounts can be when everything reconciles and is allocated correctly, then you don’t need to spend time trying to work ...

Why You Need Bookkeeping Services for Your Business

A lot of small business owners start by doing everything themselves, and that includes the financial side of things also. But at a certain point, your bookkeeping and accounting needs will become too much for what you can do yourself. So, here are 5 reasons you need to hire a bookkeeper for your business. #1: Because Your Time is Valuable How much do you charge per hour? And how long does it take you to do your bookkeeping every week or every mon...

Take back control

Helping businesses understand and grow your business by providing uncompromising service and reliability, with innovative solutions and business insights so you gain more time and feel more in control of your business”.Bookkeeping - Your 4th Emergency Service - Here to help. We live inside small businesses everyday....

The Value of a Good Bookkeeper

It has been one of those weeks this week where it has been highlighted to me once again the value of a good bookkeeper. At times when we are asked to quote a job and at times the opposing quote is so much less than you. Some will discount to get the job only to find out there is a lot more involved than you first thought, right?. After all it is only Bookkeeping and the role is nowhere as ‘important’ as the advisor or accountant, right?, WRONG. Talking to accountants and business owners who ...