Managing provisional tax is one of the biggest challenges of running a small business. But now there’s a new way: AIM. AIM (Accounting Income Method) is an initiative from Inland Revenue which allows you to work out your tax in real time. You fill out an AIM return… Read More
Continue ReadingA balance sheet is also known as a ‘statement of financial position’ because it provides a snapshot of your assets and liabilities – and therefore net worth – at a single point in time. Regardless of terminology, many business owners neglect to review their balance sheets. This is a tragedy waiting to… Read More
Continue ReadingBoth IQ (relative intelligence), and EQ (emotional intelligence) are important for business success, but so is FQ (financial intelligence). Q2 Ltd define FQ as “knowing, understanding, and acting on your numbers”. The following are 10 reasons why business owners need Financial Intelligence: Garbage in, garbage out – just pushing a… Read More
Continue ReadingOn the twelfth day of Christmas, My Q2 sent to me, Twelve-monthly newsletters, Eleven great business tips, Ten valuable workshops, Nine various tax returns, Eight huge tax credits, Seven awesome touch points, Six GST refunds, Five reasons to love, Four… Read More
Continue ReadingBackground While most employers now use payroll software, there are still some businesses keeping manual wage records. Modern payroll software is simple, reduces time and errors, and takes care of laborious and complex payroll calculations. IRD introduced “Payday Filing” in April 2018 and will make it mandatory from April 2019. … Read More
Continue ReadingI love how technology makes some daily tasks faster and relatively effortless. Intuitive accounting software, online banking, smart whiteware, an unlimited digital library, online shopping… my list is long. Criminals also love technology. Some use technology to execute their crimes via identity theft, or ransomware where businesses lose access to… Read More
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