Accounting & Finance Archives - The Accounting Hub

Category: Accounting & Finance

Contracting vs. company structure for IT professionals

Posted by Andrew Millington
on March 23, 2025

If you’re operating as a sole trader in the IT industry, one of the key decisions you’ll face is whether to set yourself up as a contractor or through a company structure. Both options offer distinct benefits, depending on your [read more...]

Managing cashflow over the holiday season

Posted by Helen Willis
on November 21, 2024

The holiday season can be a challenging time for cashflow, especially for businesses experiencing fluctuating sales, delayed payments, or increased expenses. Here are some strategies to keep your cashflow healthy as you enter the Christmas holiday period. Forecast your cashflow [read more...]

Overview of new Tier 3 Not-For-Profit Standard

Posted by Helen Willis
on September 12, 2024

Our regulatory environment is constantly changing, the not-for-profit (NFP) sector is not immune. The recent revisions to the Tier 3 (NFP) Standard, effective from April 1, 2024, will impact many small to medium NFPs and charities in New Zealand and [read more...]

Understanding when income from professional services is derived: a guide for professionals

Posted by Andrew Millington
on September 11, 2024

In the world of professional services, understanding when income is recognised, or “derived,” for tax purposes is important. We are occasionally asked by professionals if it is possible to account for their income on a “cash basis”, as this generally [read more...]

Budgeting and cash flow forecasting: key to your business success

Posted by The Accounting Hub
on January 6, 2024

If enhancing your business strategies is on your list of New Year’s resolutions, now is a good time to revitalise your approach and set the stage for success in the upcoming year. In the unpredictable world of business, finding a [read more...]

Strategies for boosting your startup’s cash flow

Posted by The Accounting Hub
on November 30, 2023

In the unpredictable world of startups, maintaining a cash surplus can be a lifesaver. It provides a safety net in case sales don’t meet expectations or unexpected expenses arise. Aside from providing security, surplus cash also paves the way [read more...]

‘No GST’ vs ‘zero-rated GST’ transactions

Posted by The Accounting Hub
on November 15, 2023

If you’re a business owner or taxpayer in New Zealand, you’ve likely encountered terms like ‘no GST’ and ‘zero-rated GST’ transactions. These terms refer to specific tax treatments under the Goods and Services Tax (GST) system in New Zealand. In [read more...]

Tier 3 not-for-profit financial statements: a beginner’s guide

Posted by Helen Willis
on October 24, 2023

April 2024 update: some minor changes made, see here. Many not-for-profit organisations fall under the Tier 3 standard which is a specific set of accounting standards designed for smaller entities, usually organisations with relatively simple financial structures and limited resources. [read more...]

Rising interest rates: impact on small businesses and mitigating those effects

Posted by The Accounting Hub
on October 16, 2023

In the world of business, one constant factor you are likely to encounter is change, particularly in the financial landscape. One such change that can bear significant implications for small businesses is rising interest rates. Understanding how this impacts your [read more...]

5 important financial ratios for your small business

Posted by The Accounting Hub
on October 2, 2023

As a small business owner, you’re likely already wearing many hats. But the hat of a financial analyst might seem a little oversized, particularly if your background isn’t in finance or accounting. However, understanding financial ratios can be a game-changer [read more...]