Claiming the costs of running your vehicle in your business is what everybody wants to do – and simultaneously one of the trickiest calculations in your accounts!  The IRD are trying to minimise your claim and Beany is trying to make sure it represents all the costs of your business use. So here is an excellent and comprehensive blog from Sheree McDonald, one of our senior accountants, which covers all the bases. Continue reading “Claiming Business Vehicle Expenses” →

The IRD is broadcasting on all channels right now about payday filing which is compulsory from April 1st 2019. Continue reading “What is Payday Filing and what You Need to Know about It” →

Why knowing your Cost of Sale is important, and how to calculate it.

In any business there is a cost to every sale, and in the world of Food and Beverage this one aspect of your business can make all the difference!

Businesses rise and fall on the ‘cost of sale’. Cafes, bars, restaurants, tea-rooms, hotels and school cafeterias are all slaves to these 3 little words. But how do you accurately measure and monitor it?

It’s a reasonably simple formula… Continue reading “Guest Blog by NZ Hospitality Expert, Louis de Bievre – Calculating your Cost of Sales” →

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 where a self employed person in their first year of trading has been put on the minimum amount of $218 per week, despite earning good money as a self employed person – because she did not have any prior year accounts (being new to business).  We could prove her current income level but that was not sufficient for ACC and she is being severely financially stressed, trying to survive both her injury and on $300 per week. Continue reading “What Happens if You’re Injured and Self Employed” →

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 what does that mean for small business? Continue reading “Productivity Hacks” →