Q&As

How can a bookkeeper help my business?

Create time for your business

 We love the tasks that you don’t. By taking care of the bookkeeping for you, we can give you back the time you need to run your business, so you have time for things you enjoy doing.

Keep you compliant

As a business owner, you have enough to worry about without having to stay up to date with all the legislative compliance changes. It is our job to know of all the updates so we can ensure that your company is compliant with payroll and tax laws, as well any other regulations that may affect your business.

Help you understand your business numbers

A bookkeeper tracks your company’s financial health and can advise you on decisions that can help grow your business. They can also provide support and answer questions you may have about your cashflow (Why is my net profit not in my bank account?). Having a professional onboard can give long-term benefits to your business. You can have peace of mind and added time to run and grow your business.

Do I need a bookkeeper if I have an accountant? What’s the difference between the two?

Accountants and bookkeepers perform very different tasks for businesses. Bookkeepers are responsible for recording financial transactions and processing data while accountants interpret and analyse the data and determine the financial position.

Responsibilities of a bookkeeper:

Reconciling bank statements against the general ledger
Reviewing general ledger for accuracy
Filing GST and PAYE returns
Generating financial statements
Software training and advisory

Responsibilities of an accountant:

Analysing the company’s financial data
Prepare Income tax returns
Provide tax planning advice

What accounting software do you support?

We support Xero, Reckon Accounts, MYOB and Infusion.

We know your software choice should be based upon your business requirements. We offer a complimentary consultation so we can gain an understanding of your business and recommend the software that is best suited to your business needs.

What is a registered Tax Agent?

A registered Tax Agent is a person who is registered with IRD to act on your behalf and lodge returns with IRD. We are ICNZB certified bookkeepers and registered IRD Tax Agents.

What are some common mistakes in new accounting software setup?

We love setting up new accounting systems from scratch, having them all ready for you to use so that you can set off on the right path with your new business!

We find this to be far more cost-effective for business owners in terms of getting set up correctly from day one. This is because it minimises the risk of time and money spent fixing mistakes later.

Some of the most common mistakes we see include:

• Accounts Payable – accounting for supplier payments twice / not clearing against payments correctly
• Accounts Receivable – Not including GST on invoices, applying incorrect payments
• Accounts – incorrect opening balances, not setting up bank accounts correctly
• Bank Reconciling – not reconciling accounts
• Business Setup – not accounting for cash setup expenses or loans
• Loans – incorrectly splitting repayments
• Chart of Accounts – incorrect tax codes, linking to incorrect account types
• Payroll – lack of documentation for payroll setup, accruals not calculating correctly for leave, opening balances not entered correctly

Why do I need a bookkeeper?

Being a business owner can be incredibly rewarding, however running your business can be stressful. Trying to understand and maintain your books is something that can cause a lot of worry.

One of our key roles as bookkeepers is to take away the stress and pressure of bookkeeping, allowing business owners to spend more time doing what they are passionate about.

Having a bookkeeper is about more than just saving time. A good bookkeeper is someone you can build a relationship with. They will take care of the books while keeping you informed so you can make better business decisions.

Every business needs a bookkeeper encouraging you to succeed and celebrating your success with you.