Category Archives: Accountancy

9 New (Financial) Year’s Resolutions

The new financial year is a great time to set New Year’s Resolutions for you and your business.

Resolutions aren’t just for making you accountable to join-and go to-a gym. They can be very useful in the realm of small business, helping you focus on goals and aspirations for the year ahead. Here’s nine goals to set for …

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Don’t Forget Stock Takes and Write-Offs

annual-stock-take-cartoon-2

Don’t Forget Stock Takes and Write-Offs 

For the majority of taxpayers, 31st March represents the end of the tax year.   There’s things you can do before the end of the financial year to help minimise your next tax bill and tidy up the books ready for a new year.

Stock Take

IRD requires that stock on hand …

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Property Investment Rules Are Changing…

Property Investment

Do You Need a Contingency Plan For Property Investment?

The government is extending the bright line test for property so that residential properties will be taxed on any gains, if they’re sold within five years of purchase (instead of the current two years).  The extension will apply to residential investment properties purchased from the date on which the bill …

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7 Common Accounting Mistakes Business Owners Make

Beware Small Expenses

Thanks to the huge range of accounting applications available for today’s small and medium-sized businesses, it’s easier than ever to keep an accurate record of where your business’s money is going.

While accounting software has made bookkeeping and accounting easier for small businesses, it has also made errors and accounting mistakes much more common.  Some accounting mistakes …

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6 Steps to Debt Reduction – The Why, What and How of Getting out of Debt

The “Why” of getting out of debt

I believe our treasure ships come in over calm seas. So, it is important to reduce uncalming influences. One main uncalming influence is financial stress, which is often created by inappropriately high debt levels.

Reducing your stress around finances improves financial results to a correlated degree.  And for the avoidance of …

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What’s the Biggest Finance-related Problem Keeping Small Business Owners Awake at Night?

The biggest finance-related worry for small business leaders is managing cash flow.  Nearly three-quarters of those surveyed cite this issue – as a key concern.  There are five key issues affecting small business owners the most:

Managing cash flow
Being as tax efficient as possible
Understanding the profitability of the business
Not having an up to date picture of business performance
Raising finance …

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Want To Know If You Are Being Ripped Off By Your Accountant? 5 Easy Questions… (cont.)

Question 1
Does your accountant ask to meet to about your goals and the results needed to live the life you want –  at least once a year, but  preferably more often?

Some accountants are excellent at providing advice and some are scared of doing so.  Sometimes this is because of a lack of perceived knowledge/value, or sometimes this …

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Want To Know If You Are Being Ripped Off By Your Accountant? 5 Easy Questions…

Having a great accountant is critical to every business

Having a great accountant is critical to every business.  Sadly, small business owners are quick to choose an accountant without checking the different ways they can help their business or their knowledge of your industry.

Getting the right accountant means you can focus on running the company and make well-informed decisions based on …

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Business Competencies & Values – How These Can Affect the Numbers (continued…)

Why do sound business values help you achieve freedom in your business?

I mentioned in the previous article how Business Competencies and Business values have direct impact on the financial results you achieve.  Business competencies tie in to the acronym LUCK, which connects with the qualities needed most to be a successful CEO of your …

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Business Competencies & Values – How These Can Affect the Numbers

How do you keep your business sustainable? Of course there is more to it then LUCK – check out how this acronym can help create positive results in your business.

Business Competencies and Business values have direct impact on the financial results you achieve. These aspects are interrelated with both the Profit you earn and the long …

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Slow Payers? 10 Mindset Changes And Top Tips To Get Paid Quicker

As a part time CFO (Chief Financial Officer) for small/ medium businesses, I meet people who struggle with dealing with slow paying debtors. The  extra time needed to chase up people who should have already paid, although both frustrating and inefficient, is a critical process for the overall success of a business, solopreneur or contractor.

Left alone, …

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