The Inland Revenue have recently made some changes to the calculation for reimbursing employees (which can inlcude owners) of small businesses for vehicle costs relating to business travel. Details on the new rules can be found here In essence the rules have been expanded to cover more than 5,000 kilometres per annum. The new rate for up to 14,000 kilomteres per annum is 76 cents and after that it is… Read more
Xero have recently released some new and exciting features and based on this and the value of the Xero platform for small business they are also increasing their pricing as of 28 September 2018. To see Xero’s blog regarding the pricing changes and more detail on the new features then please click here. We continually to see great value in the Xero product and are excited about the data scraping… Read more
Know Thy Numbers To Grow Thy Numbers If you’ve spent any time around the Bishop Toomey Pfeifer team, you will have heard our favourite phrase. You have to know thy numbers to grow thy numbers. It makes sense. You have to know how your business is tracking, what’s working, and where improvements need to be made to have any chance of growing your business. What if you’re not a numbers person?… Read more
When you’re reviewing your investments, it’s important to remember that income and returns come from two main sources, Capital Gains and Interim Income. Capital gain (or loss) This is the difference in the overall value of your investment between when you purchased it and now (or the date that you sold it.) You can work it out as: ((Current or sale price per unit – purchase price) * number of… Read more
How does Your Business Profit Measure Up? Are you happy with the Profit you are currently making in your business? If not, what can you do about it? You first need to understand what Profit is and how it is derived. What is Profit? The formula for Profit is: Sales – Expenses = Profit Profit is what’s left over, after you’ve paid all your expenses How to Increase Profit Profit… Read more
As part of our continuing education, recently myself and Paul Dawson our Business Development Manager, attended a 4 day workshop in Sydney called ‘The Experts Academy’. It was an amazing 4 days, with over 350 business owners attending the workshop from all different industries. The purpose of the workshop was to learn how we as business owners could better serve our clients through adding greater value. Following the workshop, as… Read more
The success of any business, large or small, depends largely on nurturing an efficient, productive workplace. While improving employee productivity should always be a priority when the ultimate goal is a sustainable and profitable business, the process is easier said than done. Below are some of the most effective methods of managing a productive, happy workplace while increasing output: Establish Accountability Productivity depends on every employee understanding that the jobs… Read more
The Proactive Accountants Network (to which we belong) is conducting a global survey on what businesses really want from their accountant in order to help the profession offer more tailored services to help you run your business better. This survey is being sent to businesses by accountants globally.We would appreciate it if you could take a few minutes to tell us about your experience with us. Your feedback will not… Read more
Welcome to the winter addition of Marks’ Musing It is that time of year when a number of you have been contacting the office to find out when you should bring in your books and records for us to prepare your financial accounts and tax returns. On the 1st of April, you should have received an email from us, requesting that you download and print the questionnaires from our web… Read more
Say goodbye to expensive calls Would you like free toll calls within New Zealand and cut rates when you call a cellphone or make an overseas call? Go to www.callzero.co.nz The person who put us on to this told us his mother lives in England. He calls her twice a week using the internet. Instead of spending more than $10 per call the cost is now down to a little… Read more