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Why Productivity Matters and what you can do about it.

Productivity is a term associated with strong economies, robust businesses and the efficiency gains of clever staff. If only businesses were efficient, then we would have fewer of them failing, more employment and better incomes for owners and workers alike. In New Zealand, according to The Xero Small Business Insights Special Report, Small Business Productivity: Industry and Regional Trends 2023, Kiwi business productivity fell by 6.1% in 2023.Unfortunately, not all businesses get to the heady ...

Upcoming income tax threshold changes, what you need to know for Payroll!

The Personal Income Tax thresholds will change on 31 July 2024.  All payroll payments paid on or after 31 July 2024 should be taxed using the new income tax rates.TOP TIP – If you pay your employees by a pre-loaded automatic payment, remember to update these!The threshold changes will have different effects on your payroll If you use payroll software and they make the updates by 31 July, then you shouldn’t have to do a thing. Your software provider will let you know if you doIf...

DIY accounting vs hiring an accountant: make the right choice for your business

When you’re starting out as a small business owner, the temptation is to go DIY with your accounting. Hiring a professional accountant or tax adviser costs money and that’s an overhead that you can remove by doing all the financial management yourself, right?But is DIY accounting the most sensible option for your business? And why might partnering with an experienced accountant be a valuable investment in your future?The 5 big challenges of managing your own accountsAt the initial stages of ...

Farming of the future

Digitisation is transforming how farms and orchards operate, leading to more innovation, efficiency, and productivity across New Zealand.In this edition’s Digital Snapshot, we’ll look at the Internet of Things (IoT), what it means, and how it can help farmers and growers.What is IoT?IoT refers to local networks of internet-connected devices and appliances that share useful information and data.The face of farming is set to change as IoT devices make life more efficient, safer, and productive...

New Childcare Credit

New Childcare Credit to Ease the Burden for Hardworking FamiliesGreat news for hardworking families! Starting July 1st, a new credit aimed at easing the cost of early childcare education (ECE) is here, thanks to Finance Minister Nicola Willis. This initiative is designed to help parents and caregivers manage the rising costs of living, especially when it comes to childcare expenses.What’s the Deal?Parents and caregivers can now receive a partial reimbursement for their ECE fees. You can get ba...

Farming Employers Update

As we move to the start of a new season, it is timely to review that your payroll documents and processes are current and correct.Please take a few minutes to cast your eyes over the check points below. To make it easy for you, we’ve made a short-list of some things to consider, including links to the latest IRD forms & some industry articles. Reminder – of the upcoming Public Holidays·         Kings Birthday Monday 3rd June·  ...

Featured Partner - Rocketspark

Rocketspark’s journey began in 2009 when brothers Jeremy and Grant Johnson, and their mates Richard King and Lee Reichardt, identified the need for a user-friendly website building platform that small businesses could use to establish their digital presence. ...

Featured Client - Jamie Wright Photography

Meet Jamie Wright, your go-to Photographer and Videographer based in Cambridge. From snapping shots for big names like NZ Police and Rebel Sport to weaving visual magic for Canterbury Clothing and Bremworth, Jamie's lens has seen it all. But don't let the big gigs fool you - Jamie's just as stoked about capturing the magic of local weddings and bringing small businesses' stories to life. With Jamie, it's not just about the big shots - it's about finding beauty in every frame, no matter the size ...

In the Community

In April, Accounted4 had the pleasure of hosting a highly successful "Intro to Xero" workshop for our valued clients.The workshop covered critical aspects of Xero, including coding bank transactions and preparing GST returns. Four of our knowledgeable team members guided participants through the basics, ensuring that everyone, regardless of their prior experience with Xero, could follow along and gain valuable insights.We look forward to hosting more workshops in the future and continuing to sup...

In the Office

In April, we said farewell to Ruby, who has been a cherished member of our admin team at Accounted4 for the past five years.We will miss Ruby's cheerful, warm & caring nature around the office but are very excited for her as she embarks on a new journey with her family, across the ditch in Australia.We look forward to hearing about Ruby's new adventures and know she won't be a stranger....

Get to know Samara

Samara has spent most of her life moving around New Zealand from Whitianga to Auckland with a few places in between, to now settling in Cambridge. Samara graduated from Cambridge High School in 2019 and is currently in her last semester at university before starting on her Chartered Accountancy journey. Samara has been part of the A4 team for 2 years now as she joined just after the Easter break in 2022. Samara and her partner Tait live in town with their pup Oakley. Outside of work Samara ...

The importance of regular bank reconciliations

Bank reconciliations ensure the accuracy of your organisation's financial statements and helps maintain financial integrity. Get into the habit of doing it often. Putting it off can mean bad things for your business records!See the helpful article from Xero below to find out more, if you have any questions feel free to get in touch with your accountant, as always we are happy to help!https://www.xero.com/nz/guides/how-to-do-bank-reconciliation...

Elevate your Accounting Career with Us!

Are you a seasoned professional seeking a challenging career in a progressive, supportive, and fun team? Look no further!We currently have an exciting opportunity available for a skilled Intermediate Accountant to join our vibrant workplace in Cambridge.If you have experience in a CA office, proficiency in Xero, and a commitment to delivering high-quality client service and results, we encourage you to apply. This position offers a competitive salary, flexibility in working hours, on-going profe...

Family business: Getting the structure right

Geoff Hurst, one of the Directors here at Accounted4, was recently interviewed by Chris Sheedy from Acuity Magazine on the importance of getting the structure of a family business right from the start.Full digital article by Chris below. Establishing the correct structure for a family business will prevent problems down the track.QUICK TAKEMultiple factors, including the purpose of a family business, will determine which business structure is most appropriate.Customising the structure of a ...

Digital snapshot - The do’s and don’ts of ChatGPT

Everyone’s talking about the artificial intelligence chatbot ChatGPT, the new tool that can do just about anything, from generating letter templates to answering questions.ChatGPT is a fantastic free tool for any business. Here are some ways it can help you — and what you shouldn’t do with it.DOUse it to check your emails and lettersReady to send an important email to a new client or business partner? Use ChatGPT to create a draft template and check your finished content for spelling error...

Intro to Xero Workshop

Accounted4 is excited to presentIntro to Xero Coding bank transactions and preparing GST returns in XeroJoin 5 of our Accounted4 Team as they present the basicsof coding bank transactions and preparing a GST return in Xero.  When: 5.30pm - 7pm, Wednesday 17 April 2024Where: Bridges Church, 28 Duke St, CambridgeCatering: Tea, Coffee, Juice, Water and a light snackCost: ComplimentaryThis workshop is particularly relevant for anyone who is thinking aboutor has recently subs...

Some common things businesses forget at tax time

Running a business is a demanding job, so it’s no wonder owners lose track of crucial things at tax time, such as:Deducting entertainment expensesDinner and lunch meetings with clients and customers are partially tax deductible. Keep your receipts and check in with us to see which meetings can be deducted.Bear in mind that the treatment of meal expenses incurred by self-employed people differs from the meal allowances afforded to employees. We can clarify this for you.Subscriptions and members...

Featured Partner - Tax Traders

About Tax TradersTax Traders was founded 12 years ago at the kitchen table of co-founders Josh and Nicola Taylor. From humble beginnings, Tax Traders has grown steadily over the years, and is now New Zealand’s most preferred tax pool, working with many of New Zealand’s large corporates and thousands of small and medium sized businesses every year.Tax Traders believes in the power of business to be a force for good in society. We were founded on the belief that the benefits and opportunities ...

How to ride the wave of technological advancements

The rapid technological advancements we're seeing are a double-edged sword for many business owners, presenting both great opportunities and potential challenges. Adopting and integrating these new technologies is essential if you want to remain competitive, but it requires careful navigation and a clear strategic plan for your tech stack.5 key steps for transforming your use of business techThere are solutions for enhancing your bookkeeping, accounting, forecasting, inventory management, projec...

Xero Tip - Files

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Important Employer Tips for the 1st April Changes!

Minimum Wage IncreaseOn the 1 April 2024 the minimum wage will increase to $23.15 per hour. This rate applies to all employees 16 years and over. The starting-out and training hourly minimum wage rates will increase to $18.52 per hour, remaining at 80% of the adult minimum wage.Refer: https://www.employment.govt.nz/about/news-and-updates/minimum-wage-is-increasing-on-1-april-are-you-ready/Salaried employees – check for Minimum Wage requirementsIf you have salaried employees, you need to make s...

Get to Know Ruby

Ruby was born and raised in our beautiful “town of trees” Cambridge, though she hasn’t spent her whole life here. Ruby crossed the ditch in 2016  to experience Aussie outback life driving tractors and growing cotton. During that time she also travelled all over Australia doing 25,000kms +! In 2019 Ruby found herself back in Cambridge where she settled into being a part of the A4 family as one of our Client Services Assistants. To do the math, Ruby has been with us for coming up 5 year...

Minimum wage increases to $23.15 per hour

The Workplace Relations and Safety Minister has announced that the adult minimum wage will be rising to $23.15 per hour from 1 April 2024. - a 2% increase from the current hourly rate of $22.70. Brooke van Velden had initially proposed a 1.3% increase, while the Ministry of Business, Innovation and Employment recommended 4%.The Starting-Out and Training minimum wage rates will both increase to $18.52 per hour, remaining at 80% of the adult minimum wage.Between 80,000 and 145,000 New Zealand work...

Moving to Direct Debit for Xero Business Edition Subscriptions

From 15 March 2024 we are moving to GoCardless Direct Debit for all Xero Business Edition subscriptions. Why the move to Direct DebitMoving to GoCardless Direct Debit will take the pain away from our clients having to change Automatic Payments each time Xero adjust their fees, which is normally annually. By switching to Direct Debit the correct invoice amount will be debited from client's nominated bank accounts on the invoice due date (20th of the following month) avoiding us fol...

In the Community

Accounted4 had a team of 8 participants, along with 2 volunteers on the water stands, for the very rainy Waipa Fun Run! Well done team for braving the not so nice weather conditions and getting out there anyway, all for a great cause! This year $1.00 from each race entry received was donated to Cambridge Lifeskills - a Not For Profit agency who offer FREE counselling for children and young people between the ages of 5 to 15 in the Cambridge district.Changes in society have meant m...