We are 1/12th the way through 2020. Make sure you’re lapping up the sun and getting outside before Autumn hits us. How are you tracking for achieving what you set out to achieve for January? Good? Bad? Okay-ish? We’re always here to be a guiding hand or a listening ear. Don’t hesitate to get in touch with us if you want someone to hold you accountable!
We’re currently amid a bit of a website rejig at Outside and are fiddling around trying to get the most information to you, while not being overbearing. So, we now have an official FAQ’s page on our website. If you ever feel like you need a quick answer to a quick question, check out this page. We also hope it will be a great opportunity to show new clients that we bloody well know our stuff- even if it is just the basics.
Keen to reconcile your Xero?
As everyone knows the start of the year is when the tax man comes knocking in full steam. So it’s vital you stay on top of things, how about you get your Xero reconciled up until 31st January by Wednesday 5th February. We’re cracking down on those who aren’t reconciling on time, so think, the longer you leave it the later we will get onto your GST return. So, let’s scratch each other’s backs and get it done! If you’re stuck get in touch with us ASAP, we’re more than happy to lend a helping hand, or hold you accountable to getting it done!
The need-to-know on contracting
If you follow our socials, you will know we’ve been throwing out a few articles here and there that we think will benefit you and your business. Our recent one on the pros and cons of being a contractor should come in handy for a large chunk of you. One quote that we got from that article that can be beneficial regardless of whether you’re a contractor or not: “to give yourself peace of mind, save a buffer of up to three months income in case on unplanned breaks between contracts”. This buffer can be used to cover unexpected business costs and GST payments. If you missed it, check out the article here.
Xero tip #332617
Xero has steamed into the decade with ‘Xero Education Month’ happening in February. Online webinars are available to all standard users and above for free. They cover a range of topics including managing payroll and business finances, Xero project tracking, tips for getting paid faster improving your cash flow, and general advice on managing stress and wellbeing. You can check out the full program here. The webinars are designed for everyone, so don’t forget to include your team!
Xero is offering a training campaign for new graduates or starters. It’s a one-day training programme building on the core parts of what they learned during their degree. It also teaches them how to navigate and use Xero for your business. Perfect if you don’t have the time to train them yourself. For more information on what included, price and how to sign up, click here.
Now for a handy tip… If you find yourself with an overwhelming amount of contacts in your Xero contact list, remember Xero offers options to organize them for ease of use. Go into the options section of your contact list and click ‘add to group’. You can then group contacts together who provide a certain service, product or are linked. Grouping is a great way to save time and keep your Xero organised.
Have we left you wanting more?
The usual spiel: Check out our Instagram, Facebook and Linkedin accounts for more from your favourite Accountants.
Before we head off, remember to think to yourself: Who will hold you accountable in achieving your goals this year? If you can’t think of anyone, give us a bell and we’ll keep you on track.
At Outside Accounting, we understand that staying compliant with tax obligations can be complex, especially with recent Inland Revenue initiatives targeting various sectors and financial activities. From hidden economy audits to cryptocurrency monitoring, the tax landscape is evolving, and businesses must stay ahead to avoid penalties and ensure smooth operations.
Hiring a reliable tradesperson may seem straightforward, but finding the right fit takes careful planning. You want to ensure you’re confident in your decision, and the tradesperson feels capable of meeting your expectations. Effective research and clear communication are crucial for making this happen.
In today’s fast-paced business environment, making the right decisions is critical for achieving sustained growth and success. At Outside Accounting, we’ve seen firsthand how businesses can thrive when they avoid common pitfalls. Here are three major business mistakes and actionable tips to help you stay on the right path:
