NZ Online Accountants Blog | Beany | Small Business Accounting Advice

Cash and profit,Income Tax,Tax

Cash and profit,Financial Statements,Salary and Wages,Your Business

Resurgence Support Payment (RSP) What is it? This government-initiated plan is to help support viable and ongoing business operations when Covid-19 alert levels increase to Level...

Business Structure,Your Business

Starting Out in Business

Big news! You’ve had a great idea, and you want to put it to work – congratulations! But there’s more to starting a business than...

Cash and profit,Customer,Financial Statements,Growth and Improvement,Manage,Your Business

How to Identify and Measure the Key Indicators for your Business

If you’re in business for long enough, someone will say to you “It’s important to know your numbers”, which is great advice but doesn’t...

Cash and profit,Income Tax,Tax

6.7% discount on tax!*

* conditions apply, as always! In certain circumstances, you can get a tax discount from the IRD. Here are the conditions. About you You're a sole...

Business Structure,Your Business

Sole Trader or Company?

So what’s in a name? The answer is everything, from your ability to access funds from the bank to the amount of tax...

Cash and profit,Financial Statements

Where did my profit go?!

You're looking from the Profit and Loss Statement to your bank balance, back to the Profit and Loss Statement, and wondering where your money...

Expenses,Your Business

A Brief Guide to Claimable Entertainment Expenses

Here’s some helpful information about what you can tax claim and how much. If you you'd like to see the complete set of rules,...

Cash and profit,Financial Statements,Income Tax,Tax

(Not) Paying Tax

Nobody likes paying tax at the best of times, and let’s face it, it hasn’t been the best of times recently. We Beanies use our...

Cash and profit,Income Tax,Tax

When does the IRD charge penalties and interest?

You may be wondering if, why, and when the IRD charges interest and penalties. Well, they do have a method to what appears to...

Your Business

Independent Earner Tax Credit - what is it and how do I get it?

What is Independent Earner Tax Credit? This is a tax credit available to you if you earn between $24,000 and $48,000 per annum and are...

Xero,Your Business

Xero Helps Contractors Get Paid

We work with a lot of building contractors operating small and medium sized businesses, and many of them are now using Xero. We hear it...

Goods and Services Tax (GST),Your Business

Buying a second hand asset

We quite often get asked if you can claim back the GST when buying a second hand asset for your business from someone that isn’t...

Your Business

What Happens if You’re Injured and Self Employed?

You’re covered by ACC, right? Well, not necessarily, or at least, not at the level you might imagine. We have recently seen a case...

Xero,Your Business

All You Need To Know About GST Registration

What Does GST Registration Mean? Goods and Services Tax (GST) is a tax on most goods and services in New Zealand, most imported goods, and...

Cash and profit,Xero,Your Business

Where did my profit go?

You're looking from the Profit and Loss Statement to your bank balance, back to the Profit and Loss Statement, and wondering where your money...

Your Business

Being a Contractor - What It Means and Some Common Pitfalls

What does being a contractor mean? You are self-employed You can choose what work to do, when and depending on the sector, where you...

Beany,Your Business

Switching Accountants

Quite often we stay with service providers that we’re just not that happy with - because the perceived effort of change is too much....

Growth and Improvement,Your Business

Why you should prepare a cash flow forecast

A cash flow forecast is a financial road map, which attempts to predict all the cash movements in and out of your bank account...

Your Business

The Most Important Elements for your Website

Having a website is all but a requirement for small business owners. Unfortunately, for many, it can seem like an overwhelming process. With all...

Growth and Improvement,Your Business

In what stage is your business?

Like it or not, the world of business revolves around numbers. Profit and loss margins, return on investment calculations, staffing requirements, they all require...

Customer,Growth and Improvement,Your Business

The Power of Email to Help You Grow Your Business

Using technology in general and the power of the internet specifically to increase your bottom line can be a tricky situation. As a small business...

Growth and Improvement,Manage,Your Business

The Power of Checklists to Help You Manage Your Growing Business

Running a business is hard work. As a small business owner, you don’t wear many hats, you wear them all. Managing employees, customer support,...

Customer

How This One Metric Can Make or Break Your Business - Net Promoter Score

Every successful business depends on tracking certain metrics. As a business owner, you need to be continually improving; as legendary business analyst Peter Drucker...

Customer,Growth and Improvement

Why Customer Reviews Are the Secret Weapon to Grow Your Business

Any successful and growing business depends on acquiring new customers. Businesses that get new customers at a lower cost than competitors are at a...

Manage,Your Business

Why It’s Harder to Be a Small Business Owner than a Big Business Manager

Key Points: You can lose your house You can face public humiliation You are not insulated by public money or banking support There is...

Manage,Your Business

When Business Partners Separate or Divorce

This, unfortunately, comes up quite regularly as a question to our help desk so we thought an article on it might be handy. This article...

Cash and profit

Financial Drivers

It has been said that in business, it pays to know your numbers. But what does that mean? “The Numbers” are the critical drivers of...

Your Business

Why we should care about small business

As a nation, we should care far more about small business and their place in our economy. Small business owners have been threatened by...

Employees

Why is it so hard to find the perfect person?

We’re not talking about the perfect person in life (that’s a different blog!), but the perfect person for your organisation. This might be a strange...

Employees

Key Business Decisions - People

Beany looks after thousands of small businesses all across New Zealand. We are working between our clients, the banks, the IRD and business advisers...

Cash and profit

Key Business Decisions - Cash

Making decisions when there is a high degree of uncertainty is a challenge. How can you plan and decide when there are so many...

Cash and profit,Your Business

Small Business Loans

As a small business owner wanting to borrow money from the government, you will be asked by the IRD whether your business is viable...

Growth and Improvement,Manage

Am I Investment Ready?

When you’ve considered your investment options and thought about your route to getting investment, you have to think about being investment ready. There are...

Manage,Your Business

How to Manage External Risk in Your Business

The coronavirus is the latest reminder that external events can occur and severely impact your business without warning. By their nature, you cannot plan...

Growth and Improvement,Manage,Your Business

What are your Capital Raising Options?

We have covered the topic of raising money for business in our eBook, Cash Light in a Rich World, in some detail. However, as...

Tips

Is it under $1,000? Yes? Buy it before 31 March!

Everyone gets confused about what assets are, what depreciation means and when is the best time to buy business assets from a tax point...

Business Structure,Your Business

I’m a Sole Trader - Should I Restructure My Business to a Company?

Restructuring a business in New Zealand is straight forward enough to do but have you considered if you need to in the first place?...

Manage,Your Business

Shareholding Changes NZ - Take Care!

It's vital for your business to understand the implications of shareholding changes in New Zealand. Life can throw you curve balls and sometimes you can...

Tips,Your Business

Trading on Amazon - and down at the local farmers market!

Lots of Kiwi businesses either start off down at the local farmers market - or dip their toes into the world of Trading on...

Growth and Improvement,Your Business

Productivity Hacks

In the doom and gloom of slumping business confidence, let’s spread a little light. The government keeps talking about improving New Zealand’s productivity but...

Income Tax,Your Business

Air BnB Income and how to handle It - Blog from Jenny Marklew, Beany Lead Accountant

The Tax and GST Consequence of Airbnb As Airbnb (or other private property rental sites like bookabach*) are becoming more popular the tax consequence of...

Xero

How (and why) to Reconcile your Xero Bank Account

Xero is great bookkeeping software which allows you to keep up to date accounting records. Every day all the bank transactions are shown in...

Your Business

Top 3 Tips for Increasing Your Sales

Often people go into business because they are passionate about what they do, what they make and the service they provide. It can be...

Cash and profit,Your Business

3 Tips for Making More Money in your Business

Most small business owners are confronted by a huge array of responsibilities: sales, customer management, recruitment, admin, cash flow and more. Sometimes it’s hard to...

Cash and profit,Your Business

Top 3 Tips for increasing your business profit

Beany has released its top 3 tips for increasing sales so let’s look at the other side of the equation - the top 3...

Your Business

Buying a Business, not a Job

Five Practical Tips For Buying a Business Whether you are buying a business for the first time, or adding another one to your empire, it’s...

Customer,Your Business

Understanding your customers - Telling isn't selling

Guest post from Julie Kidman, MindStep.co.nz Relevancy One of the keys to sales success in today’s information over-loaded marketplace is relevancy. People are generally too busy getting...

Expenses,Financial Statements,Motor Vehicle,Your Business

Myth Busting - Assets Buy vs Lease

Myth Busting Around Asset Purchases and Operating Leases Quite a few misconceptions float around the question of whether to lease or buy an asset for...

Income Tax,Your Business

Are we trying to scare you with land tax issues? Yes!

Be afraid, be very afraidAsk any tax specialist and they’ll have a horror story in their ‘land tax gone bad’ file. I’ve seen more...

Your Business

Call yourself an entrepreneur?

I saw this funny little infographic entitled "Why people become entrepreneurs" and had to laugh. Not just the icon "with a criminal streak" -...

Cash and profit,Your Business

Our Top Tips For Business Profit Improvement

Every business is different, but every business owner wants more profit. Here are our top tips for taking a fresh look at your business...

Your Business

The Beany Journey

From Taupo to Australia – a work in progress! It all started out as a vague idea, buzzing in my brain, about how accountants could...

Cash and profit,Your Business

Top 3 Tips For Making Money

I’m always a bit worried when my clients say things like: I’m not in it for the money, I just like the lifestyle, There’s...

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IRD and the Real Estate Sector in 2021

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Introduction to income tax

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Starting Out in Business

How to Identify and Measure the Key Indicators for your Business

6.7% discount on tax!*

What expenses can I claim for my business?

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