Chartered Accountants

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

Payday loan apps and websites; the pros and cons

Posted on Feb 14, 2019 by admin

Personal loans have become a fast-growing financing option for consumers, with payday apps and websites gaining popularity. For aid between paychecks, payday loans can be very helpful for the pay cycle lull. Taking out a loan is not something to enter into lightly though, there are many variables that should go into your decision-making process. Here are a few pros and cons you should consider before taking out a payday loan Pros:Payday loans are named as such because they are basically instant. Once applied, your loan is usually processed and paid out on the same day. This is very helpful […]

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Improving cash flow for your business

Posted on Dec 14, 2018 by admin

Cash flow can be an issue for small businesses, especially if you have peak and low periods. Follow these tips to improve your cash flow and avoid running into a tight financial spot. Flexible rosteringYour staffing may need to change in peak and low periods. By employing casuals and using a flexible roster, you can cut back on hours when you need to improve your cash flow in quiet periods. Monitor stock levelsExcess stock levels will increase the storage space you need, insurance costs and tie up your cash. Monitor your stock levels so you can find the most efficient […]

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Credit card do’s and don’ts

Posted on Nov 29, 2018 by admin

Credit cards are useful financial tools that can help you manage cash flow but can run you into debt if you are not careful. Before you swipe your first credit card consider the following do’s and don’ts, so you gain all the advantages without the headache of a tarnished credit rating. Do’sThere are several actions you can take that will help you manage your credit card. Follow these rules: Try to repay the whole amount owing by the due date to avoid interest mounting up Switch up your payment methods with debit cards to keep your credit owing manageable Be […]

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Ways going green can save your business money

Posted on Nov 20, 2018 by admin

Going green at your office will reduce your environmental footprint and save you money in the process. Follow these tips for eco-friendly policies that will benefit your business’ bottom line. Reduce utility billsUtility bills for electricity and water are significant costs to your business. Use LED light bulbs with higher energy efficiency ratings and install environmentally friendly water systems. Ensure that your electrical appliances are turned off when they are not being used and switch off your powerpoints at the main at the end of the working day as even the smallest costs can add up over the course of […]

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Tips to save money on office space

Posted on Oct 30, 2018 by admin

The expenses of running your office and paying for rent add up to a significant cost to your business. There are several key ways you should consider to reduce costs, without sacrificing conditions in your environment contributing to your employee’s productivity. Consider the following tips to help you better your bottom line on your office space. Get a second opinionAnother set of eyes and a fresh perspective will spot savings that may be hiding in plain sight. Get someone who has experience in running an office who will assist you by spending a day in an office and working out […]

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Saving money on your fuel bill

Posted on Oct 19, 2018 by admin

For those who use a vehicle to commute, fuel is an expense that adds up. To save on the costs consider the following tips: Change the way you driveSuddenly braking, taking multiple small trips and accelerating quickly are sure-fire ways to rapidly empty your tank. Consider the following strategies to help you save on your car bill: Merging your trips to minimise driving distance Shifting up gears Giving yourself more room to brake Fill up at the right timeFill up when the price at your local gas station is down. By working out if certain chains offer a specific day […]

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Haggle like a pro

Posted on Oct 5, 2018 by admin

When it comes to saving money on anything from home loan interest rates to new appliances for your house, haggling is critical. Master some of the haggling skills below to reap some saving rewards. Timing If your timing is not right many of your haggling skills will be wasted. Make sure you are bargaining when the salesperson has adequate time to consider your proposal or when the appropriate moment presents itself. For example, negotiating in a fixed term of your contract have low prospects of success in comparison to when your contract is up for renewal. Compare to competitorsIf you […]

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Using your credit card wisely

Posted on Sep 14, 2018 by admin

A credit card can be a useful way to pay for the things you want in life. But if you do not keep track of your credit balance, you may find your credit card more of a costly burden to your wallet. Consider these strategies to help you use your credit card smarter. Make payments on timeAlways ensure you can repay your credit card on time and never just pay the minimum payment each month. In this way, you can avoid paying higher interest in the long run. It may also be wise to switch to a credit card with […]

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Managing your working capital

Posted on Sep 6, 2018 by admin

Working capital is the money needed for day-to-day business operations and is often a measure of a business’s liquidity, efficiency and financial health. To ensure your business has adequate working capital, the working capital cycle should be applied. The working capital cycle is the length of time from the purchase of inventory to the receipt of cash from customer sales. The cycle comprises four elements: cash (funds available), creditors (accounts payable), inventory (stock on hand), and debtors (accounts receivable). Maintaining good cash flow requires control over each component. Ways to improve working capital: Invoicing To collect payments from debtors early, […]

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Making the most of your tax refund

Posted on Aug 7, 2018 by admin

It may be tempting to spend big when you receive your tax refund, but before you do, why not consider making the most out of your return. Here are some smart ways to use your tax refund: Send it to your KiwiSaver You can make voluntary contributions directly to your KiwiSaver provider or through Inland Revenue, whenever you wish. Making extra contributions to your KiwiSaver can boost the amount of money you will have to withdraw funds to purchase your first home (if you are eligible) or to pay for living expenses when you’ve retired. Invest it Investing your tax […]

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I have used the Accountancy Services of BDS Hughes since they opened their practice in Orewa. I am more than pleased with the way they have looked after our financial and tax business interests and especially appreciate the fact that I can ring Garry anytime and get his expert advice whenever I need it. I thoroughly recommend BDS Hughes to all other businesses for people who require a friendly no hassle accountancy team.
Robyn PedersenAccountsBusy Bobcats

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KiwiSaver benefits

Posted on February 7, 2019 by BDS Hughes

A KiwiSaver account is a great resource for compiling and saving for your retirement and future security. It is a voluntary, government-run initiative designed to help you financially plan ahead, but what exactly are the benefits? Here are a few ways having a KiwiSaver account would aid you throughout your life. Member Tax Credit:This credit depends on how much you deposit into your account each year. The government will pay 50 cents to every dollar up until you’ve reached the maximum government payment of $521.43.The government will help you save by making an annual contribution to your account as long […]

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