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Chartered Accountants

Trusted advisers of all tax compliance and annual accounting issues facing both individuals and small businesses.

Learning to delegate

Posted on Jul 26, 2016 by editor

Workplace demands can become overwhelming and sometimes there are just not enough hours in the day. While delegating is an essential skill for business owners, entrepreneurs and leaders, it can often be challenging habit to pick up. Delegating, when done correctly, will help members of your team expand their skill sets and increase their ownership over their work. To ensure that delegating tasks is beneficial for your business, owners and entrepreneurs should team the right task to the right person, explain to the person the value in the task and demonstrate their appreciation for the assigned person’s effort. In considering […]

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Understanding constructive dismissal

Posted on Jul 26, 2016 by editor

Constructive dismissal, in effect forced resignation, occurs when the behaviour or conduct of an employer is so harmful, adverse or unfriendly to their employment relationship with an employee that the employee cannot be expected to deal with it. Examples include an employer: expressly suggesting that an employee resign actively making it difficult or impossible for an employee to fulfil their role failing to provide a safe or healthy working environment imposing unauthorised and detrimental changes to the employee’s contract, such as a demotion, change of working hours or relocation Employees must be able to prove that their employer’s actions were […]

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Keeping accurate records for your tax return

Posted on Jul 26, 2016 by editor

It is vital for all employers, employees and individuals to keep accurate and complete records when completing tax returns. Accurate records will help complete tax returns faster and avoid possible penalties for incorrect returns or underpaid taxes. For employers, your business records should include banking information; proof of income; expenses; cash books and wage books. Those who claim expenses against their income must keep sufficient records that support their claims. A tax record includes any information or document about sales; income; expenses; assets and liabilities i.e. receipts or bank statements. Records can be paper-based or electronic; however they must be […]

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Speed up customer payments

Posted on Jul 19, 2016 by editor

Managing debtors is often a cause of frustration for many small business owners. Unpaid invoices can seriously disrupt cash flow. Between chasing late payments and keeping track of invoices, debt collection can be a headache. Fortunately, there are ways to speed up your payments with a few simple adjustments to your invoicing system you can increase your chances of getting paid promptly. Here are five ways to speed up your customer payments: Check contact details Ensure the location and contact details are accurate and up-to-date so your invoices reach the right person. Be sure to quote any relevant customer reference number […]

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Taking your business interstate

Posted on Jul 19, 2016 by editor

While expanding your business to open up in another state is an exciting time for a small business owner, a lot of hard work goes into this next phase of a business’s development. One of the very first things business owners need to do is get their planning under way. Analyse and evaluate Small business owners need to evaluate all of the strengths, weaknesses, opportunities and threats that are involved in a business venture or project. Find out who your competition is in the chosen location and explore the opportunities that are present. Write up a list of strengths, weaknesses, […]

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Dealing with unhappy customers

Posted on Jul 19, 2016 by editor

Dealing with unhappy customers can be challenging but with the right approach you may be able to resolve the situation and improve your overall relationship with them. Here are five tips for dealing with dissatisfied customers: Don’t take it personally When dealing with an unhappy customer, set aside your own feelings and do not take their criticism personally. Remember the customer is displeased with the performance or quality of your product or service, not you. Listen actively Listening to your customers’ grievances is crucial. Instead of jumping to conclusions or trying to solve the situation straight away, give the customer […]

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Hiring the right person

Posted on Jul 12, 2016 by editor

Finding the right workers can be a challenge. Since much of a small business’s success depends on the quality of the people they hire, this is a crucial task. Here are five things to consider when hiring that should increase your chances of success: Write a clear job description It is difficult to recruit the right person if you are not sure what job you want them to do. Start by writing down all the tasks you need done. Next, think about the attributes, skills and experience needed. Be realistic. It is unlikely that you will find a great salesperson […]

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How to stay ahead of the crowd

Posted on Jul 12, 2016 by editor

Staying at the forefront of competition in today’s advancing world is challenging. Entrepreneurs need more than innovative thinking to stand out from the crowd. Becoming a leader in your industry requires strategy and a willingness to leave behind old success formulas. Too many businesses place energy into thinking about what they have done in the past when they should be thinking about what can be achieved in the future. Here are some ways entrepreneurs can keep ahead of their competitors: Know your competitors Keeping an eye on your competitors will help you to keep ahead of developments and opportunities in […]

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KiwiSavers want more useful annual statements

Posted on Jul 12, 2016 by editor

Following a survey of more than 1300 KiwiSaver members, the Financial Markets Authority (FMA) has found that KiwiSaver members want their annual statements to be more useful and more readable. Overall, only one in five people said that they thoroughly read their KiwiSaver scheme’s annual statement, with older individuals and men the most likely categories to do so. Females (who were also found to have more KiwiSaver accounts than males) between the ages of 18 and 29 years were the least likely to read their KiwiSaver scheme’s annual statement. Some of the reasons people gave for not reading their annual […]

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Building a business brand

Posted on Jul 6, 2016 by editor

Creating the right brand is one of the most important parts of establishing a successful business. Branding is a way of identifying, recognising and experiencing a business. It involves more than just creating a fancy logo; a business’s branding should be reflected in everything from its customer service and employee uniforms to its actual premises and marketing materials. There are a countless number of brands and businesses that are recognised around the world for having successful branding. But there are also just as many brands and businesses that have failed miserably. However, avoiding a branding disaster isn’t as difficult as […]

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Chris and I would love to write this letter of reference. As business owners for 34 years we know how crucial it is to have the right professional people supporting you.Garry and Helen and their team at BDS Hughes have provided us with their accounting expertise for approximately 25 of those 34 years. Garry’s Business Development Services has taken us from small town business owners and grown us into a company capable of going nationwide and internationally with our products and services. His business acumen and professionalism has provided us with all aspects of accountancy services and financial support and advice. With his team he has given us very sound and timely training, keeping us on track through the highs and lows each year brings. As an ongoing family-based business, we have had the challenge of staying focused and looking to the future for all involved, our business team and family. Business planning and mentoring has allowed us to keep up-to-date and moving forward as well as introducing a succession plan. Garry and Helen share similar family values and know the challenges of fitting work and family time into busy and demanding schedules. We highly value the professional relationship we have built with them over these past years and know we have a lasting friendship as well.
Chris & Shirley HawkingsCEO and COLMad Supporters of Waikato Rugby

Latest news

Heavy fines for lack of employment records

Posted on December 7, 2018 by BDS Hughes

Employers must keep complete and accurate records of their employees to avoid severe fines. Remain compliant with the Employment Relations Act 2000 and the Holidays Act 2003 and follow the checklist given below. As an employer you must: Be able to show you have paid your employees all minimum employment entitlements like the minimum wage rate and four weeks’ annual holidays Keep records with the name, age, address, and date employees started working, what their job entails, public holiday payments and tax declarations Keep records for seven years even if they have left Ensure all employees have complete and current […]

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P: 09 426 2999 | F: 09 426 0812 | M: 021 790765
E: GARRY@BDSHUGHES.CO.NZ