Top tips for building a strong company culture

Like it or not, all companies have a culture. While it might be easy to define culture in nice words, it can be much harder to grab hold of in daily business, especially when times get tough. A strong company culture is a driving force, underpinning a successful, resilient team. It shouldn’t be ignored, especiallyContinue reading “Top tips for building a strong company culture”

Plain English guide to cashflow

Positive cashflow is the beating heart of your business. Dive into our Plain English guide to cashflow and find out how to get in complete control of your cash position. What is cashflow? Cashflow refers to the movement of money into and out of your business over a specific period. In the most basic terms,Continue reading “Plain English guide to cashflow”

Understanding Your Profit & Loss Statement

Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the P&L shows transactions over a specific period of time. This can be aContinue reading “Understanding Your Profit & Loss Statement”

Which business expenses can you claim against tax?

Incurring expenses is an unavoidable fact of running a business. But which expenses can you claim tax deductions against and which don’t meet the tax-free criteria? Here’s our lowdown on which expenses you can claim against tax. Which business expenses can you claim deductions against? If your business expense is directly related to earning yourContinue reading “Which business expenses can you claim against tax?”

What’s the difference between employees and contractor’s? And why does it matter?

Does your business use both employees and contractors? It’s important to distinguish between them as they are paid and taxed differently. Despite what you may call the individual concerned, that description is not definitive. If the status of the worker is questioned in the Employment Court or Employment Relations Authority, for example, the Employment RelationsContinue reading “What’s the difference between employees and contractor’s? And why does it matter?”

Planning for upcoming tax deadlines in August

Remembering the filing and payment deadlines for your business can be challenging. And forgetting about tax payments coming up can seriously disrupt your cash flow planning.We have summarised tax deadlines coming up in August for you to prevent you from missing any deadlines and facing a penalty.Tax Dates for August 2023 Note: the provisional taxContinue reading “Planning for upcoming tax deadlines in August”

Time to upgrade to New Reports in Xero

Are you still using older versions of Xero Reports?Xero has had two versions of their reports for a while — the older version and their ‘new’ reports. As of 31th July they will not longer be maintaining and providing technical support for the older versions. These will be retired on 31 July 2023 at 6amContinue reading “Time to upgrade to New Reports in Xero”

5 challenges for small businesses – and how to beat them!

Founding, building and growing your own small business is a hugely rewarding experience for many entrepreneurs. But the road ahead isn’t always smooth. There are common challenges that crop up and ongoing issues that need to be factored into your business plan, your strategy and your own personal thinking. So, what can you do toContinue reading “5 challenges for small businesses – and how to beat them!”

KiwiSaver – getting the maximum Government contribution

Sole traders and those who are not on a PAYE salary may not be making the most of their KiwiSaver. Each year the Government contributes to your KiwiSaver if you have met the minimum payment requirements as detailed below. The maximum government contribution is $521.43. To get it all you must contribute at least $1042.86Continue reading “KiwiSaver – getting the maximum Government contribution”

Motor vehicle business use and reimbursements

Inland Revenue allows you as an employer to reimburse employees – including shareholder-employees – for using their private vehicles for work. To reimburse employees for running costs, you can use: Depending on which method you use, you and your employees will need to keep specific kinds of records. Reimbursements paid by an employer to anContinue reading “Motor vehicle business use and reimbursements”