Managing ‘the books’ 2020-style
Lisa Martin, Executive Director of GoFi8ure, discusses all things accounting and bookkeeping, and shares some best practice management advice with business owners.
It’s 2020. A new decade has dawned. What better time to reflect on how far business accounting and bookkeeping has come since the turn of the century.
Who can remember a world without cloud accounting platforms? Imagine a world of printed bank statements and invoices, manual reconciliations, and no sign of digital bank feeds or automated accounting tools?
It’s all a distant memory for GoFi8ure’s Executive Director Lisa Martin (pictured) too. She has witnessed first-hand the rise of automation over her business accounting career – making life easier and providing more time for business owners.
She notes that there is still ongoing uncertainty for business owners to grapple with – such as retaining clients, hiring staff, ensuring that revenue targets are constantly met. Like a swan gliding serenely across a lake, there’s always plenty happening just beneath the surface.
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A word about good planning
2021 delivers a raft of new finance and tax issues for business owners to get to grips with. Gofi8ure’s Lisa Martin provides some clarity and advice to help you stay on top of your business finances.
It’s no secret we’d all rather forget 2020. The pandemic not only had a significant impact on the viability and finances of New Zealand’s businesses, but many business owners also struggled to get their head around various new tax and compliance requirements.
2021 presents another unique set of potential money and tax-related stumbling blocks, and GoFi8ure’s Lisa Martin believes the key to dealing with them lies in mastering the four functions of management – namely planning, leadership, organisation and control.
Most people bring core skills or expertise to a business, Martin explains. “But as a business owner they’re naturally wearing 12 other hats, and often planning just doesn’t come naturally.” Leadership isn’t necessarily a natural asset either; Covid has tested everyone’s organisational agility to the max; and, as for ‘control’ – this is where a business owner must understand the control mechanisms of his/ her business and stress-test absolutely everything.
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Lisa Martin from GoFi8ure discusses the important role a Bookkeeper can play in small businesses and how Xero has helped to bring the term back into the marketplace.
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GoFi8ure, passionate about helping small business ‘crack the whip on their success’.
Read about GoFi8ure’s recent success by clicking here.
Lisa Martin, Executive Director of accounting firm GoFi8ure, highlights the real value in creating a positive office culture within your business.
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In the last in the series of Small Business Basics, Lisa Martin, Executive Director of GoFi8ure says employ the right people.
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10 years of blood, sweat and tears & still going strong. Making it to that 10 year mark in business has not been easy in fact it has been quite the opposite. Lisa Martin knew if she was to become successful she would have to work very hard to achieve her goal.
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The first step towards building a great group of people is building a great place for them to work. There’s a lot more to this than just paying people well. Salaries need to be commensurate with market value, but just paying above the market rate won’t guarantee you can attract (and keep) the best performers.
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