Every business has to do a fair amount of accounting. However, the trouble is that this is not often a strength for many business owners. As a business owner, you are most likely focused on the big picture ‒ ideas of how to grow your business and attract new clients. That’s a lot to manage on its own without having to worry about the admin-heavy obligation of managing your accounting.
In many cases, having a full-time accounting department is not viable, especially for small businesses struggling amid the post-Covid-19 economic downturn. That is where companies like us can step in to help you with all your accounting needs.
As your NZ accountant, we can assist you with the all-important bookkeeping, which is the daily management of transactions. Bookkeeping is incredibly important so that if you’re ever audited, you have a clear and concise record and paper trail for every transaction made.
Annual Financial Statements
Our accounting services also include preparing annual financial statements which are important for helping you understand where your business is, how far you have come and whether you have achieved your financial goals and targets for the year.
Accounting is also important when applying for bank loans. We help you prepare everything you need to apply for a bank loan. We help you get all your financial statements ready in order to prove your chances of acquiring the bank loan you need to grow your business.
Cash flow management is also important, which is why we help you prepare budgets and assess their efficacy so that you do not have cash flow problems and can therefore keep your business afloat.
HR and Payroll
There are many other functions that we assist with, including payroll and human resources (HR). It is important to have your payroll and HR expenditures tightly managed and monitored to ensure that you are up to date with your taxation in that regard and that all employees are fairly remunerated on time and in keeping with the law.
We assist with all kinds of reporting to help you make informed decisions with your business and can even serve as a virtual CFO to your company and provide a range of financial services in that regard.
We also help you remain compliant by compiling current financial statements per legal obligations. We also assist in ensuring that all of your obligations towards any contractual agreements are in order and that you are compliant in that regard as well.
Every business owner wants to save money wherever possible, so we’ll ensure that you get rebates on any donations or corporate social responsibility initiatives you might be involved in to make the most out of your budget.
Importantly, our accounting services can also help you comply with tax law. We ensure that you are well prepared for taxation audits and that your personal business or corporate income tax returns are all taken care of and done correctly. We even help with Fringe Benefits Tax, Goods And Services Tax, Pay As You Earn Tax and KiwiSaver.
We use a variety of software solutions to implement accounting protocols within your company. In addition, we can help you design and implement a range of financial systems to help you improve your accounting and financial management capabilities within your company to help protect your business, as well as grow it responsibly and sustainably.