A wee while back, we set ourselves a team target and dangled the promise of an office coffee machine as the carrot. The team ticked off the target and Bobs-your-uncle, we’ve got ourselves a coffee machine. Out of it all it highlighted the benefits of goal setting, team work, shared success (with a coffee in hand). Have you got your team humming after a goal setting session? Maybe we can help?
Our coffee art leaves a bit to be desired but the coffee is going down well – drop in for a brew!
The usual hustle – it’s time to bring your Xero up to speed so we can get a handle on how you’re tracking into the first provisional tax payment for the year… Could you please have Xero reconciled to date by Monday the 5th of August? Tu meke!
Depreciation is something which is often confusing for small business owners in terms of why, when, how and where it impacts their business. While it’s something we take care of for you administratively, it’s helpful for you to understand the essentials when thinking strategically about asset and business acquisitions or sales.
Xero has a well-worded one pager all about depreciation which is worth the 5-minute read, even if you are all over it. If reading it triggers any opportunities or concerns, we’re happy to chew the fat with you and advise where we can. Check out the link here
IR Refund Scam
As you’ll be aware, Inland Revenue has made a few noticeable changes in the past year. One of the updates has been automatic individual tax assessments, with any resulting refunds paid out to the tax payer’s bank account on confirmation. The theory is great, but in practice, there’s two issues:
1. We’re seeing some of you receive refunds that haven’t accounted for your business income. To avoid us baring bad news later, please check with us before you take the money and run.
2. It’s a scammers dream landscape and some phishing emails look legit at first glance, even to a trained eye. Inland Revenue released a handy one pager with some tell-tale signs your ‘refund’ may not be as it seems – IR scam tell-tales
Stay stafe out there, remember we’re always here to help.
Missed the last blog post? Check it out here https://outsideaccounting.co.nz/2019/05/31/planning-for-the-future/ Remember to follow our Facebook page, Instagram and Linkedin to keep up to date with your favourite Accountants!
Dont forget to get your team goal setting!
Your Outside team, and Ruby
Mail: PO Box 24-457, Wellington 6142
Phone: 04 889 2975