For tradies in New Zealand, managing finances can often be a daunting task, especially when juggling multiple projects, clients, and suppliers. However, online accounting software like Xero is a game changer for tradies. We’ll show you why.

The 2024 tax season is in full swing and so are scammers! Here are some helpful tips to assist you in identifying scams.

As a business owner, managing your finances efficiently is crucial for your success. Xero, one of the most popular accounting software platforms, offers a range of shortcuts designed to streamline your financial tasks and save you valuable time. In this article, we'll explore some of the most useful Xero shortcuts that can help you navigate the platform with ease and improve your productivity.

If you want to monitor how your business is actually performing, you need to be tracking Key Performance Indicators (KPIs). And if you’re a small business owner with limited resources, you need to focus on the metrics that matter most to your operations. KPIs provide valuable insights into various aspects of your business and help you make informed decisions. In this article, we'll delve into the top 5 KPIs every small business owner should track.

Effective budgeting is crucial for the success of any small business, especially in New Zealand's current market. However, many business owners often make common mistakes that can hinder their financial stability and growth. In this guide, we'll explore the top budgeting mistakes and provide practical advice on how to avoid them, ensuring your business remains financially healthy and poised for success.

The team at Affinity Accounting have narrowed down 5 fundamentals for managing your business finances, so you can have the best chances of success.

Managing cashflow is one of the most critical aspects of running a successful business, especially in New Zealand’s current economic state. Proper cashflow management ensures that your business can meet its financial obligations, invest in growth opportunities, and weather unexpected challenges.

Hiring employees is a significant milestone for any small business. It signifies growth and the need to bring in additional talent to help your business thrive. For New Zealand small business owners, there are several key considerations and requirements to keep in mind when hiring employees. At Affinity Accounting, our Wellington team of accountants are here to guide you through the process to ensure compliance and success.

We are delighted to announce that we have partnered with Taxi, a leading provider of innovative financial solutions designed to streamline provisional tax payments. As part of this partnership, you are now eligible for an exclusive 10% discount on your quarterly facility fees when you use Taxi through Affinity Accounting.

We all know business is rocky sometimes. That’s why finding a little certainty can make all the difference. While the future will always be a mystery, tools such as budgeting and cash flow forecasting can significantly reduce the level of uncertainty, allowing you to anticipate challenges, learn from past events, and enhance your ability to navigate your business.

As a business owner, creating a budget is one of the most important steps you can take towards financial success. A budget is a financial plan that outlines your projected income and expenses for a given period of time, typically one year, but you can make the budget for longer or shorter periods if needed.

Financial statements are essential tools for any business owner, providing a clear picture of your company’s financial health and performance. However, many small business owners find these documents complex and challenging to interpret. At Affinity Accounting, our accountants are committed to helping you understand your financial statements so you can make informed decisions for your business.

Goods and Services Tax (GST) is a significant part of running a business in New Zealand. Understanding how GST works is crucial for ensuring compliance and managing your business's financial health. At Affinity Accounting, our Wellington accountants are here to guide you through the essentials of all things Tax, including GST, so you can meet your obligations without the stress.

As a small business owner in New Zealand, understanding your tax obligations is key to maintaining financial health and compliance. One obligation you’ll likely encounter is provisional tax. At Affinity Accounting, our accountants are here to help businesses across NZ with the complexities of provisional tax. This breakdown is designed to give you the information you need to make smart decisions, but please don’t hesitate to reach out if you have any questions.

There are important changes coming to personal income tax rates which take effect 31 July. These are an outcome of the Budget 2024 and they have some consequences for businesses.

Xero recently announced their Xero Beautiful Business Fund is back! Find out how your small business could win big.

Choosing the right business structure is one of the first and most important decisions you will make as a new business owner. Each structure—sole trader, partnership, and company—has its own set of advantages, responsibilities, and tax implications. This guide will provide an overview of each structure to assist you in making an informed decision.

Although bookkeepers and accountants both work with financial data and are both essential for managing a successful business, their roles and duties are actually different.

Offering an estimate or quote provides potential clients with a customised figure for what they can expect to pay. Learn the difference between estimates and quotes, and tips on how to prepare them like a pro.

From 1 April 2024, trustee income tax rises to 39%. Trusts earning <$10,000/year and certain special trusts stay at 33%. Inland Revenue clarifies what actions are acceptable. Will this apply to your trust and what actions should you take if it does?