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IRD Phishing Scam

IRD Phishing Scam - don't get caught out! Over the past two weeks Inland Revenue has received reports of a telephone phishing scam from several hundred customers around New Zealand. The scam calls have been made to landlines and mobile phones, with messages being left on voicemail if the calls haven't been answered. The callers state that they are from the Inland Revenue Department and the following scenarios have been reported, that the customer: is wanted for historic tax evasion or...

Stay Fresh In The Net

We live in a world in which more people are connected than ever before. Smartphones, tablets and laptops are now integral to our everyday lives. How is your business faring in the digital universe? Make sure that your business' digital footprint is still stepping out even when you've closed up and gone home for the day. Be where they'll look for you. First, how wide is your business reach? Are you strictly seeking local business, wanting to convert drop-by and pas...

The Busy-Person's Guide To Effective Multitasking In The Office

Multitasking. The great 2000's buzz-word. All women know the skill of talking on the phone whilst doing pretty much anything, and men perfected the art of listening to sport and reading the newspaper way back in 1926. It is a common misconception that multitasking is this art of doing more than one task simultaneously. Of course, in reality, multitasking at work is not doing multiple things at the same time, but sharing bursts of time between two or more tasks in an age where we are constantl...

Four ways to quickly boost your mood.

By Louise Thompson A great day has much more to do with what you think than what goes on in it. If you can feel the day unravelling, here are four quick ways to switch up your mood and get back on track. These tips will act as a circuit-breaker to a day that is going off the rails, and spread some sunshine whatever the weather. 1: Surprise and delight someone Marketers call them "surprise and delight campaigns" - strategically going the extra mile for the client, or rewarding the custome...

Underpaid Income Tax?

Underpaid provisional tax can cause a few headaches. Maybe you did not keep up with your provisional tax payments throughout the year? (oops) Perhaps you did not end up paying enough because you had a better-than-expected financial year (yay! but damn, an increased tax liability). It could be that seasonality or volatility make it difficult to forecast your provisional tax payments. Whatever the case, owing the taxman additional income tax can put pressure on your business' cashflow. With In...

In the Industry

Fonterra has confirmed its plan to pay an early dividend to help its farmers 'cash flows. A solid result in the first nine months of the year has enabled the company to confirm an early dividend payment of 10 cents per share to be made on June 7.Its intention is to declare another 10 cents per share in August, subject to financial performance continuing to support the current forecast earnings per share range of 45-55 cents per share. The co-ops forecast dividend for the 2016 financial year...

In the Office

Congratulations – John Landers We recently celebrated John Landers 40 year anniversary as a Chartered Accountant. He was presented with his membership on May 20 by the 2016 NZ vice president of CAANZ – Kevin Murphy. ...

Payroll Team Update

Lump sum payments from primary employment – What is a lump sum payment? Lump sum payments include annual or special bonuses, retiring or redundancy payments, payments for accepting restrictive covenants, exit inducement payments, gratuities or back pay. These are also called "extra pays". Overtime or any regular payments are not lump sum payments. PAYE applies to lump sum payments as follows: • At a flat rate of 11.89 cents in the dollar – when the combined total of the lump su...

Accounts Team Update

This determination may be cited as "National average market values of specified livestock determination, 2016". This determination is made in terms of section EC 15 of the Income Tax Act 2007 and shall apply to specified livestock on hand at the end of the 2015-2016 income year. ...

2016 Seminar Programme

Education, training and growth is important to the team at Accounted4. From our Client Feedback Survey and from last years seminars, we found that our clients are interested in a wide range of topics. We have devised a seminar programme for 2016 which provides clients the opportunity to develop their skills and knowledge. •Wednesday 22nd June – TBC •Thursday 28th July – Rental Properties Investment •Wednesday 24th August – Banklink Training •Tuesday 27th September – Socia...

Featured Client

When was the last time you stretched out well through your whole body, or took the time to slow down in your busy day and notice yourself breathing? Do you spend an unhealthy portion of your work day sitting down? Would you like to alleviate stress and tension? A busy lifestyle needs to be balanced with making sure you keep your health and wellbeing in check. Balance Yoga Cambridge is Cambridge's only purpose-built, professional yoga studio, and can help you keep in balance in both body and mi...

Featured Partner

Based in Cambridge, OSHbox provide customised and cost effective Health and Safety systems for small to medium businesses (in any industry) to ensure compliance with the new Health and Safety at Work Act 2015. Whether you are after a paper based system or cloud based, new system or update to your old, OSHbox have a variety of solutions to suit everyone. We are locals who are passionate about helping small to medium businesses implement easy to manage systems and most of all 'make safety simpl...

Business Advisory Update

Business is good. Customers love your products. You provide a superb service. So why is your cashflow trickling not gushing? You have analysed the numbers. Your overheads are reasonable and there's no wastage. But what about your debtors? If your business isn't strictly 'cash over the counter' you probably already understand the work - and the pain - of chasing money from overdue payments. Good debtor management can make a real difference to cashflow in your business. Poor debtor management...

Farming Forum

On the 24th May we held our annual Farming Forum. This year we held it in a woolshed on the O'Brien's Farm in Roto–O-Rangi. The main topics for discussion were 'Health & Safety on the Farm' presented by Angie Williams of OSHbox (our featured Partner in this issue) and 'Farm Accounting Technology' presented by the A4 Farming Team. ...

Please Remember to Count your Stock!

Reminder that if you have a May balance date, you need to count your livestock on Tuesday 31st May. Please make a note of the figures and keep them in a safe place. The figures will need to be recorded on your questionnaire. ...

Software Applications in Business

One of the most important things for a business is to have the right software in place. Buying software is no longer as simple as it used to be. Accounting software is key to any business and generally includes debtor and creditor management, invoicing and GST. There is a larger number of small business accounting packages available for Windows computers. Your accountant can recommend the best solution for your business. There are fewer options for Mac users, many of whom prefer Xero' s cloud s...

Into the Swing of Things

Here at Accounted4 we are in the swing of the new financial year and continuing our focus on sustainability and efficiency. As mentioned in our previous newsletter there has been a change in the process of receiving the information that we require from you for your end of year financials. So keep an eye out in your inboxes for an electronic version of the updated questionnaires requesting the information we require from you. As well as our updated questionnaires, we have to fulfil the requirem...

"Tis the Season"

If you have watched any TV lately, it is likely you will have seen advertisements for tax refund companies. Yes, it's that time of year when people begin to wonder whether they might be eligible for an income tax refund. You don't need a tax refund company to find out if you have a refund owing, or to get it paid to you if there is. You can call IRD, or check the IRD website yourself. But tax jargon can be hard to understand and sometimes it might seem easier to let someone else do the work. A ...

Record Keeping Checklist

BENEFITS If you're going to make a success of running your business, you need to keep good accurate records. There are legal reasons as well as good business reasons to keep these records. MAKING TAX COMPLIANCE EASIER Reduce your tax bill: You can claim business expenses against your income, reducing your tax bill. If we audit you, good records will support your expense claim. Complete returns easily: Keeping records up to date makes it easier to file your GST and income tax returns an...

Team Vacancy

Due to increased growth we are looking for a dynamic Accounting Analyst / Client Manager to join our successful, energetic, accounting team fulltime, in the vibrant, cafe and sport culture town of Cambridge. For this position formal qualifications are not essential, but you need to have; Experience in the preparation of Financial Statements & Tax / GST returns (preferably in a CA environment) Intermediate level knowledge of Excel and Word A strong work ethic and attention to detail E...

FREE Business Training on Financials, Cashflow and Xero

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Promote Creativity and Innovation Within Your Business

Whether you're planning a new product, a new business venture or simply brainstorming, here are some tips to help boost creativity and innovation within your business: 1. Don't assume the current way is the right way. Challenge long standing processes that are currently used within your business and promote evolution of new systems and ideas for your business. Be as innovative as you like. 2. Ask the questions - what are you doing and why? Don't stray from your original mission unless it's ...

The R Words: Relationships, Rapport, Retention.

There is a saying that the best customers are the ones you already have. So once you've schmoozed and wooed someone into your client base, how do you go about keeping their business? Establishing trust and maintaining rapport in your business will be critical to building strong client relationships. When you're getting to know your clients, it's important to identify common ground. The easiest way to start doing this is by listening. Learn about people by asking questions and from here you'll ...

Making The Most Of Your Business Mentor

If you're a business owner, chances are you've considered seeking out a business mentor. Some business owners swear by the help and encouragement they've received by doing so. But what do you need to look for and how do you guarantee you're getting the best advice? Shop around. Can any of your peers recommend someone who comes with a reputable track record? Ask at your local chamber of commerce or business hub. It may be that business mentors are provided free of charge to ne...

Learning The Art Of Referral Business

Much like cold calling, asking for referrals can seem daunting. However unlike cold calling, referral business usually comes off the back of having done a good job for someone, so you're already on the front foot. The first step is asking for the referral. Before that you need the confidence to ask and, of course, to know how to ask for it and who to ask. Your best customers are your current ones. Assess your client database. Have you had a recent success with a client? Most people...