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7 Data Visualisation Tools & Dashboarding Apps Some Free Options
Have you read last weeks blog on What is Data Visualisation and Dashboarding? This tells you what data visualisation and dashboarding is and how it can save you time in your business. To start our list of data visualisation tools I thought we would start off with a free one. Google Charts is an easy…
What is Data Visualisation & Dashboarding?
With any business large or small we are all bombarded with large amounts of accounting data which can sometimes be hard to read if you aren’t an accountant or are a more visual learner. Using data visualisation & dashboarding software or reporting software that puts reports into a more visual format makes it easier to…
4 Cash Flow Reporting Options With Free Trials
We look at Cash Flow Reporting apps in this articles, from basic ones that will email you reports monthly to more complex customisable options. This add-on is powered by Calxa and will send automated financial reports straight to your inbox each month. It will help you track your performance and better understand your business. Each…
Statement of Cash Flows
The statement of cash flows is the last of the three main financial statements. It summarises the movement of cash and cash equivalents within a company. The statement measures a business manages its cash, including how well it generates cash to cover its operating expenses and repay its debts. There are two ways of calculating…
5 Balance sheet Apps To Help Manage Your Business
Apart from Forecasting apps, there aren’t a lot of balance sheet apps however I have found a few interesting ones to look at. If Xero’s standard balance sheet features, like their fixed asset component, doen’t quite meet your needs there are add-ons that integrate well with Xero that have extra features and are built to…
Why is a Balance Sheet Important?
A Balance sheet report or Statement of Financial Position includes all assets and liabilities owned by a business at a specific point in time. It is one of the three core financial reports that are used to evaluate a business. The balance sheet can be used to calculate ratios such as rate of return on…
4 Ways to Customise your Reporting with Add-ons
All accounting software has standard reports that you can run to see how your business is doing however you can customise your reporting with add-ons that are specific to your industry or just to fit your reporting requirements better. Xero has a lot of reports available and even with all the customisable features these reports…
Profit & Loss Reporting for Business
What is a profit & loss report? and why do I need to look at one? These are questions that I hear frequently. To be successful in business all owners should be regularly be checking this report. The report can also be known by several different names depending on the country you are from. These…
Freshbooks & Xero. Which software is right for your business?
What is the right accounting software for a business? is a hot topic at the moment especially with Xero increasing their pricing in September 2022 for all business plans and March 2023 for their partner plans. In this article we will look at the features of Freshbooks & Xero. A lot of small business owners…
Freelancing made Simple with Indy
Indy is an app setup to help you manage your freelance business. It allows you to send proposals, sign contracts, track billable hours, create invoices and receive payments all in one place. 9 Tools in 1 Place to help you Save Time & Money Calendar – control your schedule better Chats Contracts – Use the…
NEW Rules for Tax Invoices
New rules for tax invoices are being introduced which will modernise invoicing and record keeping, these new rules will come into effect from the 1st April 2023. There were also changes to the rules for GST tax invoices which took effect from the 30th March 2022. This is the first time that tax invoice rules…
Reporting For Business
This post may contain affiliate links which means I receive a small commission at no cost to you when you make a purchase. Regardless of a company’s size accounting reports are an important element of business. Reporting is important as it provides information to calculate tax and track the financial health of your business. Accounting…
FreshBooks Launches in New Zealand
This post may contain affiliate links which means I receive a small commission at no cost to you when you make a purchase. Freshbooks is an accounting software that was founded in Canada in 2003. It started as an invoicing software that has expanded hugely over the years. It is now a double entry accounting…
Do I really need to use an accounting software?
This will depend on the kind of business you have however accounting software will make you like easier and keep your financials organised. No one wants to deal with a giant shoebox filled with receipts and invoices at the end of the financial year. Accounting software helps you to complete everything from the basic recording…
Resurgence Support Payment & Wage Subsidy
I’ve had a few queries about the Resurgence support payment & Wage Subsidy lately, especially how to calculate the revenue drop. Remember that it is also a requirement to keep records of how this information has been calculated. If you use Xero, creating the required reports is really simple however if you use MYOB or…
Covid19 Business Support
With this lockdown in Auckland (August 2021) seeming to go on forever, it’s a good time to refresh everyone one what Covid19 Business support is available and what changes have been made to the support. If your business has reduced revenue COVID-19 Wage Subsidy Scheme The Wage Subsidy Scheme will be available to all businesses…
5 Tips For Working From Home
Covid 19 has made it a necessity to be able to work from home, and with the increase in online cloud based software it has made it possible to start up your laptop and work from almost anywhere. Even though it can be convenient working from home it comes with a whole new set of…
Starting off the new financial year the right way!
Just like any other new year we start off with good intentions however the difference between success and failure depends on how hard we work at our resolutions. Sitting down and planning our goals for the new financial year ahead is important and this planning time can help us achieve our goals. Goal setting helps…
How to find the Right Accountant
With the End of Financial Year (EOFY) quickly approaching, you’re probably starting to think about who you need to assist with processing and lodging your tax returns. If you are looking for an accountant for your new business or are unhappy with your current advisor, now is a good time to be looking for one…
Bookkeeper vs Accountant
For the accounting/finance side of a business there is a lot to understand especially what expenses you can claim and what are only 50% deductible etc. Having an online accounting software can save time and money and hiring a bookkeeper or accountant to help can ensure everything is done correctly the first time. Whether you…
Covid Support Update
This article is about Covid Support update to let everyone what support is available from the 26 February 2021. Resurgence Support Payment This is the new support scheme that became available on Tuesday, and covers the week where alert levels were raised. A business or organisation must have experienced at least a 30% drop in…
End of Financial Year
If it’s your first year in business – Here’s what you need to know about the End of FInancial Year -EOFY. The EOFY for first time business owners means the first time you will need to submit your financial information to IRD. This means supplying all your financial information to your accountant (if you have…
Business Mentors & Coaching Services
We have researched and listed a few Business Mentors and Coaching Services below. Business Mentors have been in business for 20 years and is an independent mentoring service to small businesses. The service will match you with an experienced business person as a mentor. They charge a small one off fee of $295+GST and you…
Business Mentors & Coaches
Business mentors and Coaches are a topic that is mentioned a lot at the moment with questions around – What do they do? Do I need one? What is the difference between a mentor and a coach? How do I know which one I need? Mentoring and Coaching are commonly used interchangeably in a business…
AML Services
Whether your business needs to conduct AML or you are hiring an Accountant you will encounter the AML process and need to provide information to be verified. Every company has its own processes whether they use a third party provider or request and verify the information themselves. There are quite a few companies that are…
AML – Anti-Money Laundering
Anti-money laundering rules have been coming in over the last couple of years and slowing affecting more and more industries. AML may or may not apply to the industry that your business is in however, you will come across this as soon as you engage an accountant or open a new bank account. You might…
What is Tax Pooling?
Tax pooling is a way to finance your tax, it is becoming more commonly used through accounting practices to help clients manage cash flow and save clients’ money on penalties and interest that IRD would charge them. The interest rate charged by tax pooling intermediaries is lower than IRD’s rates and allows longer time frames…
Provisional Tax
 With the third installment of provisional tax due on the 15th January, it is a good time to look at your current year results. For those with accounting software this will be easy to do, run a profit and loss report from 1 April 2020 – 30 November 20. If you have completed a cash…
Xero Budget Manager & Beyond
Xero has in built budgeting features in Xero Budget Manager which can be accessed in any subscription. It allows you to quickly create budgets and compare them against actual performance. You can manually enter amounts into each column and row or there is a formula box to apply a fixed amount to each month. For…
What is a Budget? and what should it include?
A budget is an estimation of revenue and expenses over a specified period of time and is reviewed and evaluated periodically. Budgets can be used for business and personal use. Budgeting is important and helps you to keep track of how much you earn and spend. A budget is basically a financial plan for a…
Float for Cash Flow Forecasting!
Float is a cash flow forecasting software that provides cash flow insights that combine all your bills, invoices and actuals with the budgets that you set. It syncs with Xero to make managing your business easier. Forecasting can be a great tool if you are looking to expand, or want to increase your cash flow….
The Importance of Cash Flow!
 Cash flow is the movement of money into and out of your business. Cash flow is measured by comparing the inflow and outflows of money over a certain period. This is usually over a month or quarter. Sometimes it seems that the cash only flows one way, out, however it does flow both ways. Cash…
FundTap & Zip Business
Anyone who owns a small business will know that the biggest challenge is getting paid on time and managing cashflow. Some things can be done to combat the threat of late payments and smooth out cashflow. Given the issues that can be caused by late paid invoices, it makes sense to keep on top of your…
Business Finance & Funding Options
After reading the first part of this business finance & funding options series you will know that any finance will not do even when you are desperately keen to grow, buy or start a business. If you choose the wrong type of finance for your business you could severely affect your cashflow or halt your…
Covid Small Business Cashflow Loan
During Covid19 the government announced a range of measures to assist businesses and I hope that everyone applied for assistance as it was required for your business. These include changes to tax loss continuity rules, tax loss carry-back scheme, business consultancy support and the small business cashflow loan. The Small Business Cashflow Loan (SBCS) was…
Business Funding & Finance
New business owners often use their own money or personal loans to provide the finance required to grow their businesses. Personal finance is normally used as it is often easier to get than business finance. However alternative lenders can now provide fast and easy business funding & finance. There are risks in using personal finance…
ACC CoverPlus Extra
Self employed or contractors have two options when it comes to ACC – The standard CoverPlus or CoverPlus Extra. You will automatically be enrolled in the standard Coverplus however you can change to the ACC CoverPlus Extra which allows you to choose how much of your income will be covered. If you have an injury…
What are ACC Levies?
Whether you are employed or have your own company everyone pays ACC Levies. These levies fund injury claims. Being a small business owner or self-employed means that you will pay an ACC Work Levy each year. If you employ staff or allocate a shareholder salary there is an ACC Earners’ levy. These levies cover you…
Business Planning Tools
The most important part of writing a business plan is thinking critically and forcing yourself to answer crucial questions about strategy for your business. This can be done in one page or 30 pages, below are some business planning tools and apps to help you write your plan. If you need more information on what…
Business Planning
When starting a new business it is a good idea to make a business plan. They can also be made when reinventing your business. Your plan should include what you to achieve and how this is going to be done. A business plan sets out milestones that you need to achieve on the way to…
Invoice Ninja
Invoice Ninja was setup to serve freelancers and businesses with a complete invoicing and payment suite tools. Branded professional invoices can be sent with little effort. The software is ideal for freelancers and small businesses that need good invoicing and light bookkeeping options. The main features are: Dashboard – The dashboard is well-organized and provides…
Invoicing
An invoice is a document that gets given to customers that outlines the goods or services that they are being billed for. Invoices are used to record your sales and keep track of who has and hasn’t paid. Invoicing is extremely important for businesses. Invoices help tell the story of your businesses cash flow and…
Xero Projects & Xero Expenses
Xero Projects It is important for small businesses to know which jobs return the best profit and which ones need to be watched closely. This is where Xero Projects comes in as it is an easy to use job costing software. Projects is perfect for small professional services businesses and Tradies etc. Benefits Fully integrated…
How to Price Products & Services
One of the most important decisions you will make in your business is setting prices for your products or services. The pricing strategy that you choose will influence customer expectations, so ensure that you can deliver. The most important factor when pricing is to ensure that you are covering your costs. There are 5 common…
Hubdoc – Document & Data Capture Software
Hubdoc is a document management software that integrates with multiple accounting software. It can be used to streamline bookkeeping tasks such as data collection and data entry. All documents are kept in one place and automatically filed. Benefits of using Hubdoc: Easily capture bill and receipt data and get the information into Xero – Email,…
What Expenses can be claimed to help reduce your tax bill?
Business Expenses are costs that are incurred in the running of a business and most expenses incurred can be claimed to reduce a business’s net profit. Which in turn will reduce your tax bill. These include: Accounting and bookkeeping fees Professional association memberships Business premises rent Mobile phone & internet bills that are business related…
Tax Tips & Common Mistakes
Tax Tips Income Tax The first year in business is not tax-free — you can choose to pay it in a lump sum after filing your first return, or you could choose to use AIM and pay small amounts during the year when your business makes an accounting profit. If you have to pay over…
Xero
Xero is a New Zealand based accounting software that includes ample reports and 800+ app integrations. There are no annual contracts as it is subscription based and you can cancel your subscription at anytime. Xero offers a 30 day free trial and a fully functioning Demo company so you can try out all features before…
Do all Businesses need Accounting Software? What are the Options?
The idea of accounting software is to enable the efficient and fast processing of financial transactions. Most software is cloud-based and enables businesses to be able to access their accounts from anywhere in the world and normally includes a phone app that lets you use most functions of the software so that you can invoice…
HNRY – Accounting Software for Sole Traders
Hnry is a graduate of the KiwiBank FinTech Accelerator, this is a three-month program for new financial technology startups. They completed their trial period and launched in New Zealand in early 2018. Hnry has continued to expand and has announced partnerships with ASB and Hatch. In the beginning, most early adopters were in their late…
What everyone should know about Income Tax!
Income Tax, Provisional tax, Terminal Tax, Residual Income Tax. What are all these taxes? and How much tax am I going to have to pay? All these names relate to Income Tax. Provisional tax information is below and is just a way to help pay your income tax for the year. Terminal tax and residual…
Which is the best bank account for my business?
The question of which is the best bank account for mybusiness? is one of the most asked questions that I see in facebook business groups and there is no one size fits all answer to this question. All banks offer different prices for their services so each should be considered however most people will setup…
Does your business need to register for GST?
Whether your business needs to be registered for GST will depend on what industry you are in and how much you are going to earn. To start with we will look at when you have to register for GST, this is for all types – sole traders, partnerships, companies etc. You must register for GST…
How to Setup Your Business Structure
Hopefully, you have read the first article and decided which is the best business structure for your situation. Now we will go through how to set up your chosen structure. Sole trader A sole trader structure is the easiest to set up and you probably already have what you need to start work. To become…
Choosing the best structure for your business!
A business structure is something that people don’t always put much thought into when starting out. Companies are created unnecessarily or the wrong structure is chosen and it really doesn’t provide the protection that is required. How your business is structured is important and can save you money or cost you more. I have had…
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