Blog

Changes coming 1st July 2019

Posted by XO Accounting on Jul 1, 2019 10:57:03 AM

 

Single Touch Payroll

From 1 July 2019, you will have to transfer your payroll transaction data to the ATO each time your employees are paid using a software solution to do this.

Read More

Topics: small business accounting, accounting, management

Risk and Return

Posted by Bizink on Jul 2, 2014 1:51:11 PM

As accountants, we come across many business owners who haven’t given a lot of thought to what their longer term plans are.  Often they are continually bogged down in the daily routine and don’t take the time out to plan for the future.

Read More

Topics: advice, business, Firm News, startup, Succession, accounting, be your own boss, Blog, return, risk, small business, tax

Paying Down Debt

Posted by Bizink on Jul 1, 2014 9:25:02 AM

 

Debt can be a crippling problem for small businesses wanting to grow or just break-even during difficult times. By reducing debt you’ll improve the value of your business, its financial situation, and its ability to continue operating into the future.

Read More

Topics: business, Firm News, accounting, Blog, debt, small business, TAX, break even, cash flow

Using KPIs to monitor and improve business performance

Posted by Bizink on Jun 4, 2014 8:16:45 AM

The key performance indicators (KPIs) for one company will invariably be different from the KPIs of another firm.  What both hypothetical companies share however, is the challenge of selecting which KPIs are best suited for measuring the goals and progress of their particular business model.

Read More

Topics: business, Firm News, Uncategorized, accounting, accounting systems, be your own boss, Blog

The cold hard facts about Cash Handling in your Business

Posted by Bizink on May 12, 2014 8:10:02 AM

The current perception is that there are many businesses that deal in cash – particularly the service industry and many of us are aware of the scenario of a business offering a discount for cash transactions.  This is what is known as the ‘hidden economy” – it benefits neither the provider nor the receiver to be involved in these transactions which amount to a fraudulent activity and the Inland Revenue has targeted this ‘hidden economy’ with heavy penalties.  In fact a month ago, the Revenue Minister announced that ‘compliance activity for ‘hidden economy’ tax evasion gave a return of $45million, $5.60 for every dollar spent” – that was in 2013.  This means that ensuring compliance is really worthwhile for the IR and they will continue to invest in this area.

Read More

Topics: benefits of Xero, business, Firm News, accounting, Blog, Inland Revenue, TAX, cash flow

Finding Money within your Business

Posted by Bizink on May 6, 2014 2:05:53 PM

Most small businesses experience cash flow problems from time to time and urgently need working capital. Many business owners immediately think of the bank or loans when they’re short of money. But there are other resources you can tap before you ask for that expensive overdraft or overdraft extension. The money you need might already be there—locked up in inventory, assets or your debtors’ book.

Read More

Topics: business, Firm News, accounting, Blog, income, cash flow

Five Steps towards getting your Service Business ready to sell

Posted by Bizink on Jul 29, 2013 11:57:26 AM

Service Businesses are hard to value and sometimes struggle to get their price at sale time and a prospective owner can have a lot of questions before taking on a new business.

Read More

Topics: CRM system, Firm News, accounting, Blog, Marketing, sell your business, Website

How Xero supports your business from Starting-up to Selling for Profit

Posted by Bizink on Dec 19, 2011 5:54:03 AM

In the five years Xero has been on the market it has quickly gained a reputation as being the easiest accounting system around. Xero is a cloud based system which means that you can log into it securely from any computer with an internet connection anywhere in the world. It also means you won’t need to buy costly accounting packages and upgrades ever again and it even eliminates the need for backups – if your computer crashes you won’t lose your accounting data! In addition to these practical benefits using Xero has many advantages that can give your business an edge:

Read More

Topics: benefits of Xero, Firm News, online accounting, small business accounting, xero, accounting, Blog

Penalties for false income reporting – case

Posted by Bizink on Sep 12, 2011 5:47:47 AM

Former restaurant owner gets home detention for false income reporting

A former Wellington restaurant owner has been sentenced to five months home detention and 200 hours of community work for filing false Income Tax and GST returns and evading tax.

Read More

Topics: false returns, Firm News, accounting, Blog, Inland Revenue, penalties, tax, tax evasion

A great new start or the same old, same old (or something in between)?

Posted by Bizink on Feb 8, 2011 5:39:00 AM

Today the new tax changes come in for those of us still left in the rental property market. It’s the start of a new financial year and it doesn’t feel so new anymore. We are all in the throes of electing to change to LTCs, we know about the depreciation changes and we know that our rental property losses won’t have such an effect on our tax this year – but what about this year? What is going to happen to the rental property market, particularly in Auckland where one of the biggest shows in town is going to arrive in a few months time?

Read More

Topics: 2012 financial year, demand, Firm News, investment property, rental property, xero, accounting, Blog, inflation, LTC, property, xero accountant, accountant, changes

Categories

see all