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Cyber Security - scam and phishing emails

It is Cyber Security Week this week so lets touch on scam and phishing emails.  We know at times it can be hard to spot the emails but if you are ever unsure if your email is legit follow the links below for some guidance. How to spot IRD and Xero scams.The links below explain what to look out for and show you what the latest scam emails look like for IRD and Xero. If you are worried you have received one, some of the key things to look out for are:- Incorrect email addresses and links...

Payroll Team Update

Business Shutdown – Leave Management PlanHave you worked out your team’s Leave Management Plan? If your business traditionally shuts down over the festive season you need to plan closing and opening days, check if anyone needs to work during the closedown, get your team sending in their leave requests, and start organising!  Check out People in Mind’s excellent article on ‘Planning Leave for the festive season’: https://www.peopleinmind.co.nz/planning-for-the-festive-season/ Wages...

GST due

Reminder, GST is due on Wednesday 28th of October for the period ending 30th September.  Provisional tax is due if you have a March, May or June balance date and are filing GST on a 6 monthly filing frequency. ...

Accounted4 in the community

Friday the 4th of September A4's Payroll team organised a fundraising morning tea to support Achievement House Cambridge as they were burgled last month. We all came together and created an amazing morning tea that managed to raise $405 to donate to Achievement House to help towards their insurance excess! Thank you to the wonderful payroll ladies for organising this. We take pride in supporting each other and our community!...

October Xero tip

Use the account transaction tab to search for coded transactions. Click on the transaction you want to view / edit. To edit the transaction go to Options – Edit. To undo the reconciliation so you can recode on the reconciliation screen, go to Options – Remove & Redo. Do not use the unreconcile button. If the transaction has previously been reconciled, and is part of a GST return that has been filed to IRD, it will create a late claim adjustment in your next GST return....

In the Office

We welcome back Amanda James. Amanda rejoins A4 as a Client Services Assistant and will be working with David Faville's team. We are so happy to see Amanda's smiley face around the office again!...

The New Trusts Act - changes are coming!

Accounted4, in association with Lewis Lawyers, are pleased to bring you an online presentation on the new Trusts Act 2019, which comes into force 30 January 2021. This new Act brings significant changes that trustees, settlors and anyone else involved with Trusts need to be aware of. When:   Zoom Webinar, 12pm -1 pm, Wednesday, 14 October 2020 (link to be emailed closer to the time)Cost:     Complimentary Presenters:Grant Calvert, Director, Accounted4Lucy Young...

A refreshed Xero plan to support small businesses during COVID-19

Digital transformation has driven the growth of many new small businesses in the past decade. The COVID-19 pandemic has seen new business models emerging and established businesses adapting, relying on the broad benefits of financial systems like Xero provide.They all have the same thing in common – they need quick access to financials to keep an eye on cash flow and bills. Sole traders like freelancers, gig-economy workers and tradespeople have all taken advantage of digital business models a...

Create a business plan in 10 steps

‘Fail to plan, plan to fail’, as the saying goes. If you're going to create an effective, successful and profitable business, you need to create a solid strategic plan Your business plan is the route map that defines your goals, explains your strategy and gives real direction to the everyday running of the company.So what should you include in your plan? 5 key elements to include in your business plan To create a truly robust and meaningful plan: Outline your vision â€“ explain WHY youâ...

Featured Partner: Sparkhouse NZ

Today’s workplaces are dynamic and challenging, with people experiencing constant change, heightened expectations, demanding workloads along with increased compliance and policy requirements. All this, while often working in open plan offices with multiple distractions, interruptions and overflowing inboxes. It is little wonder so many employers and employees alike, feel stressed, overwhelmed, out of control and struggling to find the work/life balance so critical to happiness and well-being. ...

Xero news, tips and tricks

From 14-17 September Xero is bringing us "Xero on Air". This is their great new way of sharing information and connecting with the Xero community around the world. To educate and inspire you, Xero on Air is bringing bite sized video episodes with a range of content and special guest speakers, one of them being Steve Vamos the Chief Executive Officer of Xero.  Anyone can register and the episodes are free to watch anywhere, anytime so if you are interested or want to know more click here!...

Payroll Update

Parental Leave On 1st July 2020, the maximum weekly rate of parental leave payments increased to $606.46 per week before tax including PAYE tax, Student Loan, Child Support or KiwiSaver payments. https://www.ird.govt.nz/topics/paid-parental-leave/paid-parental-leave-paymentshttps://www.ird.govt.nz/topics/paid-parental-leave/kiwisaver-contributions-on-paid-parental-leave From 1st July 2020 paid parental leave increased to 26 weeks from 22 weeks.https://www.employment.govt.nz/leave-and-holidays/pa...

In the Office

Larissa is the newest full time member of the A4 team. She joined Martyn Steffert's accounting team on the 17th August. Larissa has completed a Graduate Diploma in Professional Accounting and is currently enrolled in her first CA module.Larissa and her husband live in Matamata with their 4 year-old son and 2 year-old daughter...

The New Trusts Act - changes are coming!

Accounted4, in association with Lewis Lawyers, are pleased to bring you an online presentation on the new Trusts Act 2019, which comes into force 30 January 2021. This new Act brings significant changes that trustees, settlors and anyone else involved with Trusts need to be aware of. When:   Zoom Webinar, 12pm -1 pm, Wednesday, 14 October 2020 (link to be emailed closer to the time) Cost:     Complimentary Presenters:Grant Calvert, Director, Accounted4 Lucy You...

In the Community

Here at Accounted4 we hold an Annual Pink Ribbon Breakfast for Breast Cancer Awareness month. This year we were fortunate enough to have a local cafe Robert Harris host the Pink Breakfast with 10% of every meal purchased donated to the Breast Cancer Foundation....

Accounting 101: Using Tax Pooling for late or underpaid tax

Have you missed your tax payment? Worried about the IRD’s late payment penalties and use of money interest (UOMI) charges? Then tax purchasing could help you! New Zealand tax-payers have to pay tax on certain dates, at certain amounts, depending on their income levels. If they miss a tax payment, the IRD will immediately charge a late payment penalty, and Use of Money Interest which builds daily. After a few months, there could be hundreds, even thousands of dollars of interest and penalties t...

Provisional Tax Threshold raised to $5000

The New Zealand Government recently passed legislation to increase the provisional tax threshold from $2,500 to $5,000. So, if you normally pay provisional tax on 28 August, you may now no longer have to and you shouldn't be alarmed if you do not receive the usual reminder notice and payment slip from us in the coming weeks. The change in the provisional tax threshold means that a taxpayer with a residual tax liability of less than $5,000 will have until 7 April of the follow...

COVID-19 Business Advisory Funding

Accounted4 offers services that are registered with the COVID-19 Business Advisory Fund.  The COVID-19 Business Advisory Funding can provide support in areas such as HR, health and wellbeing, business continuity, cashflow and finance management, marketing and digital enablement strategy. Funding is only available through the Regional Business Partner Network (RBP) Growth Advisors.For more information or to find your local Growth Advisor go to www.regionalbusinesspartners.c......

Paid parental leave has extended

When:  As of the 1st July 2020 What: Paid parental leave has increased from 22 to 26 weeks. You are already required to provide job-protected parental leave to eligible employees for a minimum of 26 weeks if the employee meets the 6-month employment test (who’ve worked for you for at least an average of 10 hours a week for six months or more). For employees who meet the 12-month employment test (who’ve worked for you for at least an average of 10 hours a week for 12 months or more), the...

Xero for farming

Great farms need great teams The best farmers surround themselves with experts and make use of technology to lighten the workload. And that’s why Xero, Figured and PaySauce have come together to form the definitive agricultural financialmanagement partnership. At its core, Xero provides all the tools you need to take care of the numbers, from streamlining data capture and entry, and automated bank reconciliations, to invoicing, expenses, bill m...

Your quarterly Fringe Benefits Tax return is due soon

Your quarterly FBT return is due soon.If you’re an employer, and you provide benefits to your employees that are additional to their salary or wage, such as personal use of a company vehicle, you need to pay tax on these. This type of tax is called Fringe Benefit Tax (FBT).When to file your FBT returnYou need to file quarterly returns unless you’re eligible for, and actively choose, to file your returns annually. The table below outlines the next filing and payment due dates for each FBT qua...

The wage subsidy extension - what you need to know

By now, many businesses that have been affected by COVID-19 have applied for support through the wage subsidy.If you are one of them, keep in mind that the subsidy comes with specific conditions. We want to help you keep your business afloat and keep your team together. If anything changes that may affect your eligibility or entitlement to the subsidy, you must notify the Ministry of Social Development (MSD) within 5 working days.Applications have now closed for the wage subsidy. However, if you...

Featured Client: Bike, Hike, Stay

My name is Greta Verhoeven and I have a small tour business. I organize day tours as well as overnight tours. I also am happy to support our local community with transport to and from town, evenings out or an event either around Cambridge or farther a field.  Please get in touch if you would like to get away with friends and require transport or I'm happy to add you to my mailing list so you are always up to date with what I've got to offer and what tours are available. Home - 07 827 8832 M...

Accounting Team Vacancy

What’s the role We are seeking a confident, energetic and motivated person with at least 2-3 years of accounting experience in a CA office to join our accounting team. We are flexible with work hours and options to work some hours from home.  This is a great opportunity for the right person who wants to fast-forward their accountancy and business advisory career, while working closely with a variety of interesting clients and a supportive, professional and fun team. What you need At leas...

Payroll Update

HOLIDAY PAY ISSUES BACK IN THE MEDIA!Its back in the spotlight again as a large NZ payroll provider has admitted to issues with several of their software programmes for calculating leave. The main issue is where employees work variable hours.All employees must have agreed hours of work written into their employment agreements. Check out this link or contact your payroll provider if you have any queries: https://www.employment.govt.nz/hours-and-wages/hours-of-work...