Chartered Accountants

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

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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Internet banking: safeguard your savings

Posted on Jul 27, 2018 by admin

Each time you use internet banking to transfer money to family or friends, pay your bills, or check your account activity, consider these handy tips to help keep your savings secure. Check your wifi Always use a private wifi network when accessing your bank accounts via an app or website on your phone or computer. Public networks are never secure and should be avoided whenever you access your bank accounts online. Using a public network puts your personal banking details at risk of being stolen by a digital hacker looking to access your funds. Keep your personal details safe Never […]

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Handy tips to prevent personal loan rejection

Posted on Jul 19, 2018 by admin

When applying for a personal loan, it is essential to do everything feasible to improve your probability of getting approved. Receiving just one knockback for a loan will be recorded on your credit file and may make it just that little bit harder to get approved for finance in the future. While there is no sure way of knowing you will be approved, there are specific requirements you should ensure you meet before putting forth your application. You have a good credit history Having a history of bad credit is a sure way to have your loan rejected. It is […]

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Bad business habits

Posted on Jul 13, 2018 by admin

When you run your own business, it can be hard to step back and look at the big picture. Failing to do so, however, not only harms your business; it can also make it even harder to sell. Whether it is failing to track cash flow or not investing correctly in key staff, there are many bad habits that business owners commonly make. Here are the top three: Using the business as your personal ATM A common business tax-minimisation strategy is to spend business earnings on personal expenses that are not directly related to the business. The idea behind this […]

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How to spot a phishing scam

Posted on Jul 5, 2018 by admin

Falling for a phishing scam is often easy. You receive an email or a text message from your bank asking you to click on a link and verify your account details for a security check or maintenance upgrade, and before you know it you have given a scammer access to your bank account. The purpose of a phishing scam is to persuade you into clicking on their link, which will take you to a site that looks exactly like your bank’s website, so from a first glance their email/ text message and link will look very authentic. However, you can […]

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Boost your business’ cash flow

Posted on Jun 28, 2018 by admin

Managing cash flow is the golden rule for most small business success. Too many small businesses fail due to poor cash flow management. To avoid getting your business into trouble, consider the following tips: Prepare a cash flow projection – Cash receipts, including income from sales and income from financingcash disbursements, including all expenses (cost of goods, operating expenses, loan payments, income tax payments, etc.). – Net cash flow — opening cash balance plus receipts, minus disbursements. – Ending cash balance. Review discretionary spending Any items that are not essential to current operations can be deferred or eliminated. Such expenditures […]

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Reducing your winter bills

Posted on Jun 15, 2018 by admin

When the winter season commences, you might notice a spike in your bills. Although, it is no surprise that additional heating and hot water adds up, you may be surprised at how you can reduce these costs with minimal effort. Consider the following tips to reduce your winter bills and lessen your environmental impact: Heating and electricity Instead of turning up the dial on your heating, look to other ways of heating up without using gas or electricity. Simple changes such as dressing warmly, closing the doors of the rooms you are not using and using a door snake can […]

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Financial checklist before you die

Posted on May 30, 2018 by admin

While preparing for a time when you are gone can be morbid, sorting out your financial matters now will help to protect your loved ones later on. Take a look at these considerations. Do you have an up-to-date Will? Make sure you have a valid and current Will in place. A Will clarifies how you wish your estate to be distributed and should be updated to reflect your current circumstances. Are your documents in a safe and secure place? Gather your important financial documents and store them in a secure file. Make sure the executor handling your estate will access […]

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Garry Hughes has been the Orewa North accountant for the past 17 years. The key to this long association has been the efficient manner in which Garry has performed his preparation of our accounts. It has been a pleasure to deal with someone whose working relationship has been friendly and exceptionally flexible when fitting in with the school needs and the ever changing Ministry of Education regulations and reporting requirements. It is good to know that sound financial advice and guidance is only a phone call away.
Bruce LawsPrincipalOrewa North Primary School

Latest news

Everything you need to know about payday filing

Posted on September 24, 2018 by BDS Hughes

From 1 April 2019 employers must comply with the new payday filing scheme. The due date for employer deductions filing and payment remains the same as the 20th of the month. Employers must: File employment information every payday instead of an Employer monthly schedule Provide new and departing employees’ address information, and their date of birth- if they have provided it to you File electronically (from payday compatible software or through myIR) if your annual PAYE/ESCT is $50 000 or more. How to payday file Employers must Include employment information (and correct a file), employee details and employer deductions. It […]

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