Tag: business
Looking after your own wellbeing and resilience in business
When you’re busy running a business, it can be easy to overlook your own wellbeing and mental health. Stress can have a serious effect on your ability to function and you can’t make consistently good decisions and lead your team if you’re under a weight of pressure or struggling with...
Cash Versus Accrual Accounting
Do you prefer cash accounting or accrual accounting? We can help you figure out what’s best for your business. The difference between cash basis and accrual basis accounting comes down to timing. When do you record revenue or expenses? If you do it when you pay or receive money,...
5 Goal-Setting Business Tips For The Year
Wouldn’t it be great to have your best year ever, this year? Whether you want to grow your business or take more time for yourself, these goal-setting tips can help you achieve your long-term plans. Think big! - What do you want from your life – and how can your...
Accounting Basics: Balance Sheet Reports
Understanding your finances is a vital part of running your business. But getting down into the nitty gritty of the entity's accounts isn’t every entrepreneur’s top skill. If you are new to accounting, or simply want to expand your knowledge, we can help explain the foundational reports. The balance sheet...
Lockdown Leave, Pay Cuts, Reduced Hours: What’s Allowed?
There are many questions during Level 4 & 3 lockdown about the responsibilities for employers. Luckily, the Ministry for Business Innovation and Employment (MBIE) have set out all the required information. Two of the most commonly asked questions are: 1. Can I make employees take annual leave during lockdown? The...
Business Support Following Lockdown Announcement
The Government has announced that significant support for businesses and workers has been triggered following a rise in alert levels to combat COVID-19 in the community. The Government decided to move to alert level 4 for New Zealand starting at 11.59 pm on Tuesday, 17 August 2021, initially for 3...
Cash is Not Profit and vice versa
The purpose of a business is to make money, and that means you have to know the difference between profit and cashflow. Net profit is what you have left after you deduct all your business expenses from all your revenue. You change net profit only by changing the things that...
Want to Save Money? Look at your Expenses.
Running a business will always mean incurring certain expenses, or ‘spend’. There are always costs, overheads and supplier bills that mount up – and these expenses will gradually chip away at your cash position. This can make it more difficult to grow and make a profit. So, what can you...
Support for Farmers
Farming can be tough and unpredictable. That’s why having the support - financially and holistically - is key. Here are some helpful ways you can access assistance during the ups and downs. The Farm Debt Mediation Scheme Farmers under financial strain will have access to extra support and guidance from...
Your Business Recovery Plan
As we emerge from Covid-19 restrictions, for some ‘Business as Usual’ has become ‘Business Unusual’. How do we navigate our way towards a sustainable new normal? During lockdown, we focused on crisis management. This meant activating relevant Government support packages and doing our best to make smart financial decisions. Now...