Over the course of a few weeks nearly everyone’s business and life has been turned upside down. It’s been a crazy time with toilet paper shortages, businesses forced to close, an overload of information (and mis-information on social media). With the recent disruption in mind, we wanted to help support you however we can. We’ve seen many of our clients already impacted by the virus and decided to put together… Read more
We’d like to assure you that The Accounting Hub is fully operational at Level 4. More about how we can help below. Here’s what the Government announced today, 23 March: New Zealand moves up to COVID-19 Alert Level 3 – Restrict New Zealand to move up to COVID-19 Alert Level 4 – Eliminate, in 48 hours Two-staged approach to give people and businesses time to prepare So how will your… Read more
While New Zealand may feel like a relatively safe place to be right now, there is no escaping the impact COVID-19 will have on our social and economic wellbeing in the upcoming months and beyond. Finance Minister, Grant Robertson, said: “We don’t yet know what the full impact on New Zealand’s economy will be, however we do know it will cost us jobs and have a significant impact on business.… Read more
Finding your feet in the first year of business can seem like an ever-evolving task list, but tax is one thing to get ticked off quickly. Instead of waiting for your tax situation to snowball with a surprising result come end of financial year, take the time to jump on that tax learning curve. You might be pleasantly surprised to find it’s a relatively simple task once you’re in the… Read more
There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be greatly simplified once you separate your personal and your business finances, especially your expenses. Paperwork and taxes will… Read more
There is nothing quite like moving overseas to send your ‘life admin’ skyrocketing. Many of our clients have relocated here to New Zealand from all over the world – UK, Australia, India, China, Canada and even Hungary – and are making the most of the NZ small business lifestyle by setting up as a contractor, or starting their own business venture. And when you throw a business in the mix,… Read more
When you own a small business, it’s vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management. The consequences of not understanding money can be drastic—poor financial management… Read more
A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business. Unsurprisingly, flexibility and feeling in control ranked first in the “love” category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task. Most business owners understand that effective financial management is key to their success. But lack of knowledge, frustration, and even avoidance can add up to accounting… Read more
If you run your own enterprise, there’s a good chance that going into business had a lot to do with money. But once you’re actually in business, finances can pretty quickly become overwhelming. So grab a notebook, and set aside a couple of minutes, because we’re starting with basics and breaking down everything you need to know. Here’s our Small Business Finance Management 101! Step one: know why finances matter!… Read more