Minimum Wage Set to Rise April of 2019 The Government has officially announced that from the 1st of April 2019 the minimum wage will rise to $17.70 per hour. The starting out and training wages will also increase at this time to $14.16 per hour from the same date. The Government has also announced that [...]
New GST online filing The first steps towards tax simplification lie in the new option for taxpayers for online filing of GST returns. Inland Revenue has been working with two software providers to pilot a service so taxpayers can file their GST returns directly from their business software. At present this can be used for GST only returns or for combined GST and provisional tax returns, although this option is [...]
Setting the record straight Inland Revenue have signalled they will be looking at businesses’ record keeping systems. Key targets will be that all jobs and all income are being recorded and that GST is being handled properly. Recent prosecutions indicate that PAYE records are another hot topic, along with the corresponding employment records. If sketchy [...]
Underpaid income tax? Underpaid provisional tax can cause a few headaches. Maybe you did not keep up with your provisional tax payments throughout the year? (oops) Perhaps you did not end up paying enough because you had a better-than-exepected financial year (yay! but damn, an increased tax liability). It could be that seasonality or volatility make it difficult to forecast your provisional [...]
Five rules for managing your cashflow Invoicing is only the start. To maintain a healthy cashflow, you need more than just strong revenue. You need to be able to collect that revenue too. Here are five rules for managing your cashflow and getting your invoices paid faster: Keep your books accurate and up to date [...]
5 Benefits of Doing Business in the Cloud There is no doubt that there are exceptional benefits to be accessed by adopting cloud software in business. For many though, the ‘cloud’ is unknown and scary, and this can be a major hurdle to considering changes. With a bit of education and communication of key benefits, [...]
How to add a condition to an existing bank rule Once the Bank Rule is set up, you still need to add new places you visit as a ‘condition’ to the existing bank rule you have already set up. Go to Manage Account on your dashboard and click Bank Rules Go into existing bank rule [...]
How to add a Bank Rule in Xero If you deal with cash transactions or don’t enter all transactions in Xero before you import bank statements, set up bank rules: a quicker and easier way to reconcile imported bank statements. With bank rules you define the conditions for each rule to match with your imported [...]
Xero Business Connect: accounting's next revolution Importing and exporting data and invoices into accounting software is not the most exciting task. Let's be honest. So Xero are working hard to help its users speed up their data entry process with Xero Business Connect. The Business Connect ecosystem is still in its infancy stage with just [...]
Keeping safe online is very important We’re aware of the increasing number of phishing scams that are targeting the customers of banks and other large companies. A phishing scam is when malicious emails target customers by pretending to be from a legitimate company such as Xero, using an email address like message-service@post.xero.com. They're not targeting [...]
