Every business needs accounting, just like every business needs marketing. In order to meet your goals you will need to generate business, keep hold of your existing clients or ramp things up for growth. Marketing means having a solid understanding of your brand, being able to communicate your value and offering, and present your business in line with the level of your product or service. But like most things, there… 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
Flexibility and self-management…the appeal is real. In fact, approximately 70% of enterprises within New Zealand are sole traders. It’s easy to understand why – no more worrying about applying for holiday leave, pushing for a much deserved pay rise, or being subject to painful small talk around the coffee machine. Instead, the main person you’re checking in with is…yourself! For some, becoming a sole trader is a win-win situation. Is… 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
Sssshhh, can you hear that? That’s the sounds of the home office a.k.a mega productivity, peace and quiet, comfort and silence! Home (office) is where the heart is Studies show remote or home-based workers are more productive, better for the environment (no travel emissions), are happier and healthier (have less sick days and less time off) and churn out quality work because it is nice and quiet and un-interrupted. Best… 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
Here at the Accounting Hub we love innovation and cutting edge ideas. We are very lucky to work with some super cool businesses. We love business owners who think differently and find smart ideas on the edge of what is possible. Here are a few other businesses we have been reading about who are using technology to its best advantage. SwiftMed SwiftMed, quite simply, is an online doctor. This Kiwi… Read more
In an effort to level the playing field between property speculators/investors and home buyers, speculators and investors are no longer able to offset tax losses from their residential properties against their other income (eg salary or wages, or business income) to reduce their income tax liability. This legislation is known as ring-fencing of rental losses. The new rules limit a person’s deductions for expenditure incurred in relation to residential land… Read more