Kicking off the New Year

EOFY for businesses

The new year is well underway, with January now behind us the 11-month countdown to Christmas is on. As outstanding as the Christmas-New Year break was, (and we hope yours was too!), it is not the biggest end-of-year for accountants. 31 March, the end of financial year for most small-medium business, is looming. We’re 90% under control but are hustling 10% of you for information – if you’re in the 10%, please hustle with us.

In the interim, GST is coming around for another bite so, if it’s coming for you, can you please have your Xero reconciled to date by Monday the 4th of February? Love your work.

Xero Tips and Shortcuts

This is something we’ve pointed out before, but Xero has fleshed this section out a bit further and it’s worth pointing out again. It’s a no-brainer that everything we can do to save a few seconds in a repetitive process is a big winner at the end of the day. Sharpening yourself up on your keyboard can make an immediate difference and Xero has a good page of tips, tricks and shortcuts to make this easy. Check it out here https://central.xero.com/s/article/Tips-and-shortcuts

Payroll, minimum wage and IRD scams

There’s a wee bit going on in the business world at the moment and we’d like to highlight a couple of things:

Payday filing is required from 1 April. If you’re on a payroll system, despite the Inland Revenue fanfare, there is no action required from you, your payroll provider has it covered. If you have employees/contractors and you’re not using a payroll system, speak to us ASAP.
Minimum wage is taking a hike up to $17.70 from 1 April. If you’re in a business with higher volume low wages, like hospo, let’s have a chat to make sure you’re not going to be out of pocket.
IRD scams are becoming increasingly common, and they’re getting sharper. If you’re in doubt about correspondence you’ve received, run it by us. IRD also have a good resource here https://www.ird.govt.nz/identity-security/scam/scam-alert.html?id=homepage

Missed the last blog post? Check it out here: Blog. Remember to follow our Facebook page, Instagram and Linkedin to keep up to date with your favourite Accountants!

Here’s to a good year ahead!
Your Outside team, and Ruby

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