Despite the recent weather, today is officially the first day of winter – a bit of a scary thought when considering what’s ahead of us. While the weather might be perfect for your office-dwelling accountant, it also means skiing, All Blacks, cranking fires and Milo, or single malt – it’s not all bad!

It’s GST time again for many of you. We almost don’t need to remind you these days, but for those that have a tendency to drag the chain – could you please aim to have Xero reconciled for us by say, Wednesday the 6th?

Xero Business Tip – Files

If you haven’t used Xero Files yet, you should.
Xero Files is the little folder-looking icon up the top right of your Xero and it’s your own wee dropbox or google drive specifically for your business. It’s secure, unique to your Xero and has a few cool features to speed up getting your data in.

You can drag-n-drop your files in there, or forward emails then turn these documents into bills or invoices, or just store them safely – but this is all nothing new.

One choice new feature is a separate email address you can forward .pdf bills to. You’ll then have a draft bill ready for you to finish off next time you log in to Xero. It’s all about cutting down the ‘clicks’ and giving you more time to do the exciting things. Check out this link to find out more here.

If you missed the last Xero tip, check out our most recent blog post.

Tax Changes

There’s been a bit of legislation on the move and it’s worth mentioning a couple of more general points:

The residential land brightline rule has been pushed out from 2 to 5 years brightline
90 day trial periods are a no-go for new employees if your business employs more than 19 staff. Test your employer knowledge here employing people

Payday filing for employers is now optional, and compulsory from 1 April next year. There’s no software currently doing it, but it is something to be aware of payday filing
The global economy is sharpening up on what money is moving where. AML/CFT compliance is coming into accounting firms and from August this year the government will receive details of any international investments you have. Neither require actions from you right now and we’ll keep you posted if/when changes effect you.

Outside Accounting

As always, if you have any questions please pop in or give us a bell – it’s what we’re here for!

Keep kicking ass!
Your Outside team, and Ruby


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New Zealand Accounting, Bookkeeping & Property Business Consultancy Services | Wellington & Lower Hutt Xero Property Accountants Business coach business consultation business adviser

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