Lisa Martin – Member of the Accountants + Tax Agents Institute of NZ (ATAINZ)

GoFi8ure ATAINZ MemberAt GoFi8ure we pride ourselves on being Members with Accounting Associations. A big congratulations to Lisa who become an official Member of the Accountants + Tax Agents Institute of NZ (ATAINZ) this week.

The Accountants and Tax Agents Institute of New Zealand (ATAINZ) exists to promote the welfare and professional development of its members and to represent members’ interests in New Zealand. It is unique in the New Zealand tax and accounting market because of its grassroots contact with members.

Being a Member of ATAINZ means each Member must comply with our Code of Ethics, which covers four main areas: integrity; trust and confidence; standards of service; and professional conduct. If you are looking to worth with a professional accounting firm come and talk to us. We take our our services and the quality of our work seriously. Email us to find out more.

 

 

 

 

 

 

A beginner’s guide to cashflow management – Featuring GoFi8ure

It’s the stuff of nightmares for business beginners: customers not paying on time; never enough cash in the bank; unexpected tax bills. Where does it end?

To help you sleep easier, NZBusiness, GoFi8ure, Ontrack Bookkeeping and Lock Finance presents a short guide on cash-flow management.

Read this valuable article by clicking here.

GoFi8ure – Excited to be part of Xero’s new Advisors Directory

Trusting who you work with is important, along with knowing that the company you are dealing with is professional and knows what they are doing. That is why we are so excited to be on the Xero Advisors Directory as your go-to professional bookkeeping advisor. Visit our profile by clicking here.

Happy Financial Year from the Perfect Bookkeeper

When Xero asked our Executive Director Lisa Martin to participate in their new Happy Financial Year campaign we leaped at the chance. We love working with Xero so it was pretty exciting to see this show up on billboards, bus stops and in the paper! To chat to us about how we can help with your bookkeeping send us a message – we would love to hear from you.

Ever wondered how hiring a Bookkeeper could help your business?

Running a successful business requires making smart decisions and whilst many business owners have a range of talents and expertise, they often don’t have the accounting knowledge necessary to ensure the Bookkeeping side of the business runs smoothly. Having a qualified Bookkeeper helps give you peace of mind knowing your accounts are up to date and accurate.

So why hire a qualified Bookkeeper?
A good Bookkeeper is worth their weight in gold. Why? Because to them best practice is the only way they work. Would you let an unqualified mechanic fix your car? The same goes for your accounts. By hiring an experienced Bookkeeper, you are able to focus on the growth of your business. Though you can still monitor the progress of your accounts, the day-to-day responsibility is removed, giving you the freedom and reassurance that your accounts are being looked after.

What can a Bookkeeper do for you?

· Bookkeepers help save you time – As a business owner, time is your most valuable asset. Would you rather use your time to plan, direct, and spend on the things you love doing? Or would you rather spend your extra time doing your accounts? Hiring a Bookkeeper means you know your accounts are well taken care of and you no longer have to worry about last minute GST deadlines or paying staff on time.

· Be a Leader, not a Manager – Being a leader means helping other people to grow and maximize their own full potential. How can you do that when you are stuck in other areas of the business? A good Bookkeeper is like a side-kick, they know what you need whilst having an in depth understanding of your business and KPIs (key performance indicators) allowing them to help enable you in your role.

· Hire someone who knows their stuff – When hiring someone to take care of your accounts; you may want to consider approaching a professional bookkeeping firm, who has experience with your accounting software and industry. Your Bookkeeper will be able to provide vital, meaningful management reporting and data; they can also show you where the leaks are and help you improve your accounting processes and systems.

Not sure what condition your accounts are in? Get our Warrant of Finance (WOF) service for $250 + GST and find out what areas need improvement and how you can be more efficient. To book your WOF email us: enquiries@gofi8ure.co.nz or visit our website www.gofi8ure.co.nz

Are you financially ready for the holiday season?

The holiday season is a hard time financially for businesses, so what can you to avoid being financial stress?

Get your Bookkeeper to calculate your GST as early as possible. Don’t risk a late payment (and penalties!) or stress of having to find the money just because you are unprepared.

Make sure you have a budget and cash flow forecast in place. This will help you cover costs and expenses over the holiday period and into the New Year without the worry of running out of money.

Make sure you are claiming right.  An important thing to remember is some expenses are 100% deductible while others are only 50% deductible.

Cash Bonuses for Staff – These must be included in the employee’s wages for the week and PAYE paid on them.

Gifts of Food and Wine to Associates or Clients – The cost of gifting food and wine to associates or clients will normally be 50% deductible for tax purposes.

Gifts to Staff – Each quarter there is a fringe benefit tax (FBT) exemption of $300 per employee – as long as your gifts are under $300 the costs will be 100% deductible. If they are over the $300 then FBT will be payable to Inland Revenue, however, the costs can still be claimed.

Other Gifts to Associates or Clients – The cost of gifts (other than food and beverages) to associates or clients will normally be 100% tax deductible for tax purposes.

If you would like to know where you could be financially on the 31st March 2016, GoFi8ure can help you with easy to understand cash flow forecasting and budgeting reports from one of our top reporting packages Spotlight Reporting. Find out more by emailing enquiries@gofi8ure.co.nz or call us on 0800 463 488.

Change the Way You Do Business

Did you spend 2014 overworked and overwhelmed? How many hats did you wear? The upside about being your own boss is you can decide the details of what you want to do. The downside is more often than not, you have to wear more than one business hat!

What if this year – you could wear the hats you wanted too not had to? Imagine what that could mean for you, your business and for those around you.

Here are some tips on how to “choose what you want to do and outsource the rest”

1. Delegate – Kiwis have the DIY attitude but that doesn’t always work in Business. If there is a job someone else can do then delegate – lessen your to do list!
2. Do the most difficult task first – A lot of us start the day by doing the easy tasks first but that often leaves you tackling the hardest tasks when your energy is sapped. Instead, do the most difficult tasks first.
3. If it isn’t your strength – give the work to someone who knows their stuff. For example, if you aren’t a numbers person, why spend your precious time doing the books when you could pay a certified Bookkeeper to get the job done in half the time.
4. Don’t multi-task – multitasking usually means doing a bunch of things poorly. You’re much better off giving all of your attention to one task that you really hit out of the park.
5. Have a daily plan – If you have a list for all your tasks that day, you will get through the list quicker and feel great about getting them ticked off the list!
6. Ignore your email when busy – It is hard to do but it will ensure you get a good stretch of totally focused work time.

For those who aren’t use to outsourcing, it is a great way to help ease the workload whilst getting the job done. Just remember – You don’t have to do everything yourself. So make 2015 a smarter year for working not harder!

If GoFi8ure can assist with your bookkeeping or accounts please get in touch by emailing enquiries@gofi8ure.co.nz today.