Archive for March 20, 2019

Changes to Cashmanager RURAL

March 20, 2019

For those clients using Cashmanager RURAL software, you may be aware that the desktop software has become redundant and will no longer be supported.  The Cashmanager RURAL Online software is also going to become redundant at some point in the near future and will be replaced with Cash Manager’s new product called Cash Manager Focus.

 

Our preferred farming software is a Xero+Figured combination so when your subscription comes up for renewal, before you renew, we would like to have the opportunity to discuss and show you this alternative software combination.

 

Please give us a call and we can arrange a demonstration of the Xero+Figured software for you.

Contact us today for more information.

Hubdoc has landed at McKenzie+Co

March 20, 2019

We are excited to announce we are now a Hubdoc Certified Advance Partner.

 

Hubdoc is an online product that lets you store and organise all your financial documents in one place quickly and painlessly with a click of your mouse or a snap of your smart phone.

 

If you are tired of the piles of paperwork scattered across the office or folders of invoices and receipts clogging up your office space, and would like an easy to use simple solution then Hubdoc may be the answer you have been looking for.

 

When you connect your accounts, your recurring bills and statements will automatically be retrieved by Hubdoc and will be added to your secure account in the cloud.

 

Hubdoc uses OCR (Optical Character Recognition) technology to analyse your receipts (and other scanned documents) for useable data and automatically files them in your own electronic filing cabinet.

 

When you upload your receipts we convert that data into digital files you can view, download or print from anywhere, anytime you connect to the internet.

 

You can grant your accountant access to your account and there will be no more requests for copies of invoices.

 

If you would like to more know, give us a call or watch this space for more details coming shortly.

Contact us today for more information.

Staying Sane in Business

March 20, 2019

Although running your own business has its attractions, being in business can leave you feeling lonely and isolated. About 70% of the 400,000 small businesses in New Zealand are operated by just one person. If you are one of these people, this leaves the financial decisions, planning for the future, and the stress of long hours and day-to-day tasks all falling on you, leading to a feeling of isolation.

 

Research has shown that when business owners feel isolated, the decisions they make can have a negative effect on finances, relationships, and wellbeing both mental and physical. It is vitally important for you to be able to share burdens, bounce ideas around, have the motivation to move forward and feel connected on a business and personal level. The feeling of isolation will prevent you from being able to do this. Your business’s most important asset is you, or more specifically, your ability to make good decisions and work effectively, so it is essential that you protect this asset and make it as strong as possible. How can you do this?

 

As social beings, we need regular connection with others and building this into your routine is often the first step in being better in your business. This may be as simple as going to your favourite café for your morning break and making a connection there. Another way to keep connected is by attending networking events. Although you may not normally do this type of thing, these events are a great way to connect with others in a similar situation and will help to remind you of why you are in business.

 

A formal way to stay connected is to have a business mentor or coach that you meet with on a regular, scheduled basis. The formality of these meetings helps focus you on what is important and gives you goals with set dates to achieve these by. Because this gives you accountability, your motivation is improved and you are able to celebrate your successes with somebody who cares about your business.

 

It is always important to remember why you went into business in the beginning. I would be surprised if the original motivation was to work long hours, not take holidays, argue with loved ones about money and feel alone and isolated. Reach out to your trusted advisors, your banker, accountant, business associates, local community and loved ones to build the connections and support that you need to stay sane in business.

Contact us today for more information.

Changes to Residential Rental Legislation

March 20, 2019

If you have residential rentals you may be aware there are some new legislation changes coming in the new financial year. These changes limit your ability to offset any residential rental losses against other forms of income (this is called ring-fencing).  Therefore, if you have any significant repairs and maintenance plans for your residential rentals, it would be tax advantageous to get in quick and do these repairs before 31 March 2019, if you think they may result in a rental loss. Click here to view the previous newsletter for more information

Contact us today for more information.

Are you ready for the IRD changes?

March 20, 2019

Click on the links for more information

 

From the 01.04.19 the minimum hourly rate increases from $16.50 to $17.70. Minimum wage increase 01.04.19

 

ESCT needs to be checked by 31.03.19. The ESCT rate threshold amount is the estimate of their total salary or wage, plus the employer contributions you’ll make to them in the current income year. The calculated ESCT rate is used for all employer contributions made in the current tax year. If your employee’s salary or wage goes up or down in the current tax year DO NOT adjust their ESCT rate. Update any change at the start of the next tax year.

 

Time is running out for Payday filing. Payday filing compulsory from 01.04.19

 

Where PAYE was filed in the IRD website has changed. You will now be automatically redirected to the My Business screen. If you are not in Payday filing yet the process will still be the same.

 

IRD Services will be temporarily unavailable. To make the changes, IRD’s key services will be unavailable between 3pm Thursday 18 April and 8am Friday 26 April 2019.  During this time you won’t be able to access myIR, E-File or contact us through our contact centres. Our offices will also be closed. Secure mail messages saved as drafts and any draft returns within myIR can’t be brought across and will be deleted as part of this process.  Please therefore check your secure mail messages and submit any draft returns before Thursday 18 April. For more information, visit our service update website. If you are wanting to file your PAYE online for the period ending 31/03/2019 this can be done by 18 April or on 26 April due to the system being closed on the 20th.

 

If you have any questions about the above topics please call Andrea in the office.

Contact us today for more information.

Title Test

March 19, 2019

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Contact us today for more information.