Xero’s new Navigation page

Xero’s new Navigation page

Have you heard? Xero are changing their navigation bar!

Why have Xero changed the navigation bar? 

To make it faster and simpler for you to find the tools you need.

What does this change mean for you?

It means by the end of November when you go to use Xero, the items that you would normally use are no longer in the same place. 

To read Xero’s update click here.

What has changed?

The biggest change with the navigation bar is that business and accounting tools have been separated, making it easier for you to find what you need.

Business vs accounting

The most obvious change is that business and accounting tools have been separated, making it easier for you to find what you need.

Business

Everyday tasks are grouped logically under the Business menu. Here you’ll find all the tools that most small businesses use on a daily basis, such as:

  • Invoices and quotes
  • Bills and purchase orders
  • Expense claims
  • Inventory, now labelled Products and services

Accounting

The Accounting menu holds the advisory and compliance tools that are more commonly used by advisers and partners of the organisation. These include:

  • Bank accounts
  • Reports
  • Advanced accounting tools and settings

Any reports, tools or settings that have been set as favourites show in the Accounting menu. By default the following tools and settings are set as favourites:

  • Chart of accounts
  • Find and recode
  • Manual journals
  • Fixed assets

Each user can set their own favourites by selecting any of the options in the Advanced accounting settings.

Now is the perfect time to get a Xero fresher training session booked in. Our qualified and experienced Xero trainers are ready to show you how the new navigation tool bar works so you can still work efficiently and effectively. 

Book your Xero refresher training by clicking here.

Setting goals and measuring performance

Setting goals and measuring performance

Goals are what drive the long-term performance of your business.

Agreeing on clear targets, and measuring your progress over time via key performance indicators (KPIs), helps you to understand exactly where the business is going.

But how does this kind of performance management work in practice?

Track your performance with KPIs

Tracking your goals via KPIs show you where the company is hitting the mark and (importantly) where you need to do better – putting real drive and motivation behind your overall strategy.

To make performance management drive your profits and productivity:

  • Set targets and work to a long-term strategy – define your key goals for sales, profit, growth and cashflow etc. And ensure these target are closely aligned to your wider strategic business plan – so you’re tracking the metrics that matter.
  • Track performance with real-time information – integrate a KPI reporting app with your accounting software, and monitor the key financial and non-financial metrics. Use this dashboard to regularly track your KPIs – giving you a current view of performance.
  • Motivate your team to be more productive – explain your key targets to the wider team, and keep them engaged in meeting these goals. Motivation and engagement levels are higher when staff can see what they’re working towards.

Talk to us about setting up a KPI dashboard

If your are looking to track, monitor and boost your business performance, we can help. We’ll help you choose the right KPI reporting app, and get you in control of your key metrics.

Get in touch to start boosting your performance.

 

 

Xero Reporting: Drilling down into your numbers

Xero Reporting: Drilling down into your numbers

Knowing the status of your finances is a vital part of running your business successfully – and with Xero reporting it’s incredibly easy to run key financial reports at any time.

With a wide range of standard and custom report templates, you’ll get a better view of your profit margins, your cash position and how expenses are affecting your bottom line.

Real-time reporting at your fingertips

Cash is king when it comes to business success, so having Xero’s real-time reporting at your fingertips means you can control your cash flow, your aged debt and your profitability.

With Xero’s easy reporting tools you can:

  • Run a Profit And Loss report and see how your business is performing over time
  • Review your Aged Receivables so you can understand who’s not paying invoices
  • Dip into the Cash Summary and get more control over your operating expenses

Talk to us about getting more from Xero Reporting

If you are want to get in real control of your numbers, we can with you to set up simple, customisable reporting templates – giving you the key financials you need. Find out more by sending us a message.

How to turn your passion into a business

How to turn your passion into a business  

Ever dreamed of turning your passion into a business? It can be a rewarding way to make a living.

With the rapid growth of online shopping and affordable ecommerce platforms, some of the traditional barriers to launching a small business are gone. You can potentially make sales without buying a shop or giving up your day job. Here are some thoughts to help you monetise your hobby and turn your passion into a business!

1. Be prepared to lose some love – Once you turn your passion into a business, you’ll never feel the same way about your hobby again. The idealism of doing what you love for a living will collide with the reality of:

  • tracking sales and cash flow
  • hitting targets
  • managing inventory
  • watching competitors

2. Balancing creativity and commercialism – When you create something for personal fulfilment, you can make it to suit yourself. But when that creation becomes a service or product you wish to sell, you have to work within boundaries that suit your customer’s needs and requirements.

3. How do you monetise your hobby? – You’re enthusiastic about your hobby and the business idea that flows from it but ensure you fully test ideas within your market to find out what works and what doesn’t. Try to solve a problem or find a product that already exists and find how you can improve on it.

4. Building your brand with free content – Sharing relevant content is a great way of building up your customer base.

5. A pragmatic approach to social media – Find out where your audience spends their time (Facebook, Twitter, Instagram) and focus there. It sounds obvious but this simple piece of research can save hundreds of hours of lost effort.

6. Separate your personal and professional goals – When you turn your passion into a business, it’s easy to lose track of time. Both the passion and the business soak up a lot of energy – making it hard to get your work-life balance right.

Talk to us about turning your business ideas into reality

Turning your passion into a business is an exciting prospect and you could earn money doing what you love. Talk to one of our team and we can help you to come up with a plan and put steps in place to help turn your passion into a business reality!

 

Why use Xero? The benefits of cloud accounting

Why use Xero? The benefits of cloud accounting

Xero offers your business a simple, yet powerful, way to manage all your finances in the cloud.

With Xero as your core finance system, you get real control over every element of running your business, from basic bookkeeping right through to efficient online invoicing, live bank feeds and detailed financial reporting. And that’s not all…

A beautiful business platform

Xero is also a fully functioning business platform, with an open architecture that lets you plug in online payment solutions, time-tracking apps or job-management tools. So whatever sector you are in, there is a range of apps to customise your Xero system.

With Xero as your cloud platform you get:

  • A mobile way to check your numbers 24/7 – with online access from any device
  • A paper-free office environment – with secure storage of your documents in the cloud
  • An all-in-one cloud platform – with a host of features, apps and third-party solutions

Find out more about the benefits of cloud in this Xero TV video

Talk to us about switching to Xero

If you want an accounting system that is also a highly flexible business platform for running your company in the cloud, talk to us about switching to Xero.

 

GoFi8ure announced as New Zealand’s first Bookkeeping company to become a Xero Platinum Partner

GoFi8ure announced as New Zealand’s first Bookkeeping company to become a Xero Platinum Partner

What an amazing month September has turned out to be! Not only did we win the prestigious award for Xero’s NZ Bookkeeper of the Year, just earlier this week we became New Zealand’s first Bookkeeping practice to become a Platinum Xero Partner. How amazing is that!

We started our journey and partnership with Xero over 7 years ago and it was the best decision for our business. It opened up doors to provide more opportunities and solutions for our clients. Fast forward 7 years and we did it! We made it to our goal – which was reaching the PLATINUM Partner status.

Gone are the days of Accounting practices only talking to their clients once a year, and gone are the days of Accountants being reactive vs proactive. Business owners need an Accountant who will take the time to understand you and your business. GoFi8ure is changing the way Accountants work with their clients for the better. We call this change the LEAR approach. LEAR stands for Listen, Educate, Advise, and Resolve.

Listen – We actively listen to you. We listen to your concerns, frustrations and worries. We also listen to your ideas, your goals and your dreams.

Educate – Not everyone went into business because they were great at numbers or with money. We educate and provide information, tips and tools for our clients so they are enabled in their business.

Ask– We ask questions. They may not always be the questions you want to answer but we ask the questions that need to be asked. We want to know everything about our clients and their businesses and the best way we can do this is to ask.

Resolve – Our team of experienced Accountants and Bookkeepers work together to provide you with a solution specifically designed for your situation. You are not in this alone and you should not feel like you are. The right Accountant will work alongside you and support you each step of the way.

If you would like to improve your business performance and financial results but do not currently feel supported by your current Accountant to achieve this, please get in touch.

Why put off until tomorrow what you can achieve today!

Interested in knowing more about our advisory services? You can check out our Xero Advisor profile by clicking here. 

Taking a closer look at the benefits of business software

Taking a closer look at the benefits of business software

Have you been running your business the ‘old-fashioned’ way, with an office suite for spreadsheets, word processing and presentations? If so, we would like to share how new types of business software can streamline things.

For a small business like yours, the explosion of apps in the past few years gives you much more choice. These apps connect together almost like building blocks and can be accessed anywhere to give you more flexibility.

Xero has put together a great guide to business software. It covers the issues with traditional software and the benefits of new apps – so you can shape the software around your business, instead of the other way around.

Please have a read and if you would like to talk about the right software to help you manage (accounting, timekeeping, ecommerce, customer data, workflows), send us a message and book in your complimentary meeting.

 

14 Apps to Help Improve Your Business’ Productivity

14 Apps to Help Improve Your Business’ Productivity

 

 

 

 

 

 

 

 

 

We seem busier than ever without necessarily achieving much more. It’s time you made technology work for you, to save time and streamline processes. We have rounded up some of the best apps to maximise your productivity by addressing your communication, organisation, password management, performance and focus.

COMMUNICATION – the heart of modern business

Slack is a communication hub – calls, instant messages, files and notifications all indexed, archived and easily searchable. Create dedicated channels for groups or individual projects and private lines for sensitive information.

Skype is a leader in video conferencing. Send instant messages and make calls. With Skype you have your own number and you can share your screen for presentations etc.

WhatsApp is just like SMS (text) but using the internet not a cellular account. Instant messaging, sharing media files, free app-to-app calls and easy to download – all good reasons to use it.

ORGANISATION – simplify your workload

Evernote keeps a variety of notes on one subject all together. From audio or web pages to scanned business cards it can even search text in images. Keep project research/information together and share if required.

Trello is a project management tool. Keep track of progress, due dates etc – it’s easy and visual for the whole team.

Google Drive is an easily integrated and shared document storage on the cloud will centrally hold files that you and others can edit in real time from any on-line device.

Genius Scan turns your phone pics into a pdf. File documents and receipts easiy on the cloud.

PASSWORD MANAGEMENT – no more password resets

LastPass is a virtual vault that holds all your passwords and is encrypted for maximum security and works on all your devices, generating super secure passwords and making online shopping easier.

1Password has recently introduced a ‘travel mode’ – all traces of your ‘vault’ of sensitive information are removed from your device while in travel mode so your data is untraceable.

PERFORMANCE – shine with little effort

Detective is an assistant who briefs you before every meeting on who’s who and what makes them tick.

Accompany will give you an executive pre-meeting briefing – background on the people you meet and financials on companies.

IMPROVE FOCUS – tune in to turn off

Pocket is where you keep things for later. Videos, articles etc can be stored to view at leisure, even without an internet connection.

Freedom releases you from the tyranny of distracting sites so your devices become work tools again.

Simple Habit offers guided meditation in sessions as snackable as 5 minutes to improve stress or sleeping through mindfulness.

If you would like to chat further about how your business processes could be running more efficiently, send us a message or call us on 0800 463 488.

GoFi8ure announced one of three Finalists for Xero Bookkeeping Partner of the Year NZ Award

GoFi8ure announced one of three Finalists for Xero Bookkeeping Partner of the Year NZ Award

Wow! How amazing is that. GoFi8ure have been chosen as Finalists for Xero’s NZ Bookkeeping Partner of the Year Award. We are so excited and cannot wait to see what happens at Xerocon in September.

At GoFi8ure we live and breathe Xero and best practice bookkeeping. We take pride in supporting our clients achieve nice tidy accounts and financials, along with supporting them through business growth and changes.

Cross your fingers for us! You can read more about it here.

 

 

Staying Fit (financially) – NZ Plumbers Magazine featuring GoFi8ure

Regularly reviewing your company’s financial fitness will keep the business watertight, says Lisa Martin of GoFi8ure.

Funny isn’t it, that when we talk about financial fitness, many bosses start to glaze over. And yet the monetary side of things is the main reason businesses start up in the first place.

To read the GoFi8ure’s article which has been featured in the October/November 2017 NZ Plumbers magazine – click here to read it.