Planning For The Financial Year End

Planning for the financial year end on 31st March now will help make the process easier and quicker. Getting all of the information together that we need to prepare your year-end accounts can take quite a bit of time, but getting organised now can help you to have the right information all ready to go.

2020-02-19T08:44:15+12:00February 19th, 2020|Accounting|

What Information Should A Tax Invoice Include? has a convenient tax invoice template that small business owners can use for designing their invoices. Its simple layout ensures that all of the correct information is included for the purposes of both the issuer and the recipient. What Information Should A Tax Invoice Include? Business name. Invoice number. Date the invoice is issued,

2019-11-11T13:07:15+12:00November 11th, 2019|Accounting|

Audit Shield: Protection Against IRD Audits

The IRD and other government agencies regularly select individuals and businesses to conduct audits on. They examine your finances to see if you’ve paid the right amount of tax and comply with the applicable tax laws. This may consist of a simple check of your GST registration through to an in-depth examination of your business

2019-05-27T14:01:18+12:00May 27th, 2019|Accounting|

Reminder: Payday Filing From 1st April 2019

All employers must be payday filing from 1 April 2019. From 1 April 2019 employers will be included in one of the following groups for delivering their employment income information to IRD: The online group The non-electronic group The new employer group The Online Group Criteria Employers who withheld $50,000 or more of PAYE and

2019-03-21T13:33:22+12:00March 21st, 2019|Accounting|

It’s Almost Financial Year End Again

The end of another financial year is nearly here, so now is the time to put a few important things in place to make your annual accounts process easier and quicker. Bad debts: review your debtors and determine any bad debts. Physically write off these bad debts in your accounting software prior to close of

2019-03-08T08:40:13+12:00March 8th, 2019|Accounting|

The Beginner’s Guide To Depreciation

Understanding Depreciation Fixed assets are long-term assets that a business owns which are expected to be used in the business for longer than one year. They are often used to operate the business, such as machinery, buildings, equipment and vehicles. As you can’t deduct the cost of fixed assets from your taxable income as expenses,

2018-10-23T08:27:46+12:00October 23rd, 2018|Accounting|

Payday Filing

Payday filing became optional for employers on 1st April 2018, and it will be compulsory from 1st April 2019. Payday filing means filing your employment information on/after each payday instead of filing an Employer Monthly Schedule (IR348) every month. Key Points The due dates for your PAYE payments and methods of payment do not change

2018-08-30T10:17:14+12:00August 30th, 2018|Accounting|

What’s The Difference Between ‘Accountants’ And ‘Chartered Accountants’?

You may notice that our practice is called “UHY Haines Norton Chartered Accountants”, not “UHY Haines Norton Accountants”. Here at UHY Haines Norton there are a total of 26 chartered accountants on our staff – that’s over 2/3 of our professional staff! But what does “Chartered Accountants” mean and what’s the difference between that and

2018-08-20T09:24:14+12:00August 20th, 2018|Accounting|

The Beginner’s Guide To Profit And Loss Statements

Although you may think of your year-end financial statements as an annual exercise to keep the IRD happy, your statements are actually a valuable resource showing how your business is performing financially. They give you the opportunity to compare financial performance from the previous year and look at ways to improve future performance. Profit and

2018-08-07T09:16:06+12:00August 7th, 2018|Accounting|

The Beginner’s Guide To Understanding Your Balance Sheet

Your year-end accounts shouldn’t be just an annual exercise that you and your accountant go through to placate the IRD. They do, in fact, offer essential insights into how your business is performing and provide an opportunity to make changes to improve future performance. Balance sheets provide a snapshot of a business’ assets, liabilities and

2018-07-02T11:14:41+12:00July 2nd, 2018|Accounting|