Accounting 101: ACC - CoverPlus vs CoverPlus Extra
October 19, 2020
CoverPlus vs CoverPlus Extra – Main differences, which one should I be on, and prices.
The ACC cover that most of us are familiar with is CoverPlus, which is the automatic policy for everyone whether they are self-employed or on PAYE wages. This type of cover pays out 80% ...
Accounting 101: Using Tax Pooling for late or underpaid tax
August 12, 2020
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 ...
Accounting 101: What we need at Annuals Time
June 19, 2020
You may be thinking “I have all my data on Banklink/Xero, why do you still ask for my records”?
Although our computer system might show the year end balances and amounts, we need extra confirmation from a second source that the information we have is correct, and that no...
Payroll Team Update
November 4, 2019
Business Shutdown – Leave Management Plan
Have 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 ...
Accounting 101: GST
November 4, 2019
In New Zealand, goods and services tax (GST) is added to the price of most products and services. If your business is GST registered, you collect GST from customers (by adding 15% to your sale price) and you pay this to the government, less any GST that your business has pai...
Accounting 101: Financial Statements
August 6, 2019
How to read your Financial Statements
Essentially, the financial statements tell a story about money. They show where an entity’s money came from and where it went over a specific time period, which is usually over a year. They also show where the money is at the end of that period. In NZ, the standard financi...
Accounting 101: Tax, Terminal vs Provisional
June 10, 2019
Welcome to our new series: Accounting 101
In this series we will help you understand the Accounting Terms that don't sound fun and generally go over people's heads! Let us know if you are interested in a particular topic and we can break it down and help explain it for you! ...
