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.

 

 

Creating More Effectiveness in your Business

Effectiveness in Business

 

 

 

 

 

Do you consider yourself to be effective at work? Although many of us like to think that we are 100% effective, the truth is that most of us have unrecognised weaknesses that impact our effectiveness.

Some businesses seem to barely keep afloat, fumbling from one day’s challenges to the next, whereas other businesses seem to crackle with energy, efficiency and vision. This is no accident – effective businesses use and rely on organisation, oversight and planning to minimise minor disruptions which reduce a company’s ability to grow and prosper.

To improve effectiveness in a company, a business needs to conduct regular performance reviews of both their employees and managers to determine if their methods and techniques are effective and producing results. Ineffective results could easily impact the quality of a company’s services or products, so it is important for any business to make sure that all of their employees and managers are filling their roles effectively.

So, what can you do to help your business run more effectively?

1. Use your time more effectively
In a nutshell, time is money – or the potential to make money. The more time you waste on inefficient activities, the less free time you have to spend doing productive activities that will help your business grow.

Michael Gerber, in his world-famous book ‘The E-myth revisited – Why most small businesses fail and what to do about it’, stresses that one of the reasons businesses fail is that the owners spend too much time on day to day tasks. So if you are a business owner, it is vitally important to spend enough time steering your ship in the right direction.

2. Consolidate tasks and remain focused
It is scientifically proven that you are more productive when you focus for an extended period on completing one task instead of multiple activities and tasks, as the “white noise” of a large number of tasks overlapping and interrupting each other is distracting. An easy way for business owners to accomplish this strategy is by consolidating, or batching, tasks that require similar processes and invest all their focus on this one consolidated task.

3. Automate processes and workflows
Small businesses often get bogged down with repetitive tasks. Did you know that you can likely automate many of your frequent tasks? Many small businesses fear automation because of the upfront expense or its possible effect on employee jobs. However, automating repetitive steps in your sales, production or distribution process can increase your bottom line and free up your employees to work on other, more critical areas.

Successfully running a business requires a great deal of time, energy, money, and other resources. If you want to increase your chances for success, focus on being as efficient as possible. If you would like to find out how GoFi8ure can help your business run more effectively, send us a message today.

 

 

Chasing debtors – 3 easy strategies that will help you get paid quicker

Chasing debtors – 3 easy strategies that will help you get paid quicker

Getting paid is always an exciting part of running a business. What is not as exciting however, is keeping on top of clients when they do not pay their invoices. According to the Commercial Collection Agency Association, after 30 days past due, the chances of being paid drop to 89.9%; after six months, there is only a 52.1% chance of being paid.

Below GoFi8ure has listed some simple strategies that can help bring payments in on time, whilst maintaining good relationships with your clients.

1) Regularly review your Aged Receivables detail report

Your Aged Receivables detail report should be your “go-to” credit control report for checking the total amount of outstanding invoices per each client and totals. Make sure to keep an eye on anything that is showing as 30+ days overdue. The longer you leave it, the easier it is for your client to forget or ignore your invoice.

Tip: Keep your bank accounts reconciled and up-to-date so that your debtor reporting is current and accurate. By following the steps below, you will see each invoice per client and how overdue it really is.

Go to Reports > Aged Receivables > Click on Show Invoices > Update

 

2) Save time by emailing all your client statements in one go

Statements are a great way to prompt your clients to pay you. By sending a statement your clients can see their outstanding invoices and payment history at a glance.

Go to Accounts > Send Statements > Select the “Activity” statement type > Choose the first day of the month prior to the current date > Update > Select the clients who have a balance owing

 

 

The great thing about Xero is you can send up to 50 client statements at a time. You can also customise your statement template should you wish to do so.

Tip: When sending bulk statements make sure to untick any contacts with a $0.00 balance. It is also important to ensure that all contact details are correct for each client. A statement can not be sent without an email address.

3) Use Automated Reminders

At times, even though invoices get earmarked for payment, they can still slip to the bottom of the to-do pile. Automated reminders may be the cure. They act as a gentle nudge that will help your chronic late-payers remember to pay the due invoice.

Xero has a feature that allows you to send automated invoice reminders, all you have to decide is when and how often the reminders are sent out.

Go to Accounts > Sales > Awaiting Payments > Click on the Invoice Reminders Off > Set up the reminder template and frequency

 

With Xero’s automated reminders you can customise the tone and timing of when the email will be sent. It can take a small amount of time to set up, but choosing this option will save you hours in the long run. To find out more click here to watch a quick video.

There are so many amazing features available, if you would like a Xero refresher training session please send us an email or call us on 0800 463 488.

 

Finalists – Hutt Valley Business Excellence Awards 2014

Finalists for Education in Business & Leadership (Individual) categories – GoFi8ure

We are so excited to be named finalists in not one but two categories. We would like to thank everyone so much for their ongoing support, we couldn’t do it without our loyal clients and friends. To read more about the awards click here.

 

 

 

 

Finalist in the Emerging Gold category – GoFi8ure

GoFi8ure are excited to be announced as a Finalist in the Gold Awards 2014. To read more about the Gold Awards click here.

Category: EMERGING GOLD

Smaller enterprises (fewer than 10 staff)

GOFI8URE: This accounting “superhero team” for small business won of the Xero Best Bookkeeper of the Year in 2013.

 

ECOPOINT: Developers of super-efficient LED lights with up to 90% energy saving, and five times the life.

PARROTDOG: Brewing 1 million bottles a year of quality craft beer for local and international markets right here in Vivian Street.

SOCIAL CODE: An online patient engagement platform for managing chronic disease. Listed in Entrepreneur Magazine’s 100 “Brilliant Companies” for 2013.

STQRY: A mobile app visitor guide for New Zealand, Seattle, San Francisco, and Los Angeles – with over 160,000 active users every month.

WISHBONE DESIGN STUDIO: A new generation of classic children’s products, sold through 400 retailers in 40 countries worldwide – all from Newtown.

 

 

Finalist in the AUT Excellence in Business Support Awards 2012

Finalist – GoFi8ure

GoFi8ure are selected as a finalist in 2012 AUT Excellence in Business Support Awards. GoFi8ure has been selected as a finalist in the 2012 AUT Excellence in Business Support Awards. Recognised for excellence in the category Business under $5m turnover – Accounting and Finance, GoFi8ure will join 49 other finalists in this years’ AUT Excellence in Business Support Awards – a record number in the awards seven year history.

What differentiates GoFi8ure from others is we are mobile and certified/qualified i.e. we know what we are doing! Allowing clients to have an accounts person on site at important times each month without actually employing a full time accounts manager.

Our focus is on developing partnerships with clients to help them manage their business, rather than a more traditional transactional style of operation. Only by truly understanding our clients, and the environment in which they operate, can we provide the best advice and support possible.

GoFi8ure Finalists – Hutt Valley Business Excellence Awards 2009

Category: The Hutt City Council Small Business Award

Finalists: GoFi8ure

GoFi8ure adds to the Hutt Valley economy. GoFi8ure indirectly adds to the economy of the Hutt Valley by supporting local businesses to do what they do best. By providing robust financial services, local businesses can grow and develop, knowing they are fiscally compliant and well-managed.

GoFi8ure is reducing the stress of its clients.

One of the biggest issues GoFi8ure sees in their work is business owners who let the finances get away on them. One quick ‘warrant of fitness finance check’ from GoFi8ure will often set them on the right path, ensure they are meeting their tax obligations and begin to develop systems that are realistic for their business.

GoFi8ure’s ethos is to CARE; Commitment, Attitude, Respect and Excellence.

Lisa’s position as a small business owner also sees her in a unique position to provide advice.

“I have known Lisa Martin through business for the last eighteen months. I love meeting
with Lisa – she is a warm positive person with high expectations and standards.

I have seen how much effort and enthusiasm she puts into her business and I have been
extremely impressed with the marketing of her business. GoFi8ure have recently joined as
Silver partners to the Hutt Chamber of Commerce and I am sure this partnership will be
beneficial to all concerned. I wish her every success in this nomination.”

Anna Geremia
Membership Manager
Hutt Valley Chamber of Commerce