Make More Money

Grow your business using our Accelerate business growth programme and our business coaching programmes.
Keep More Money

Implement Profit First in your business to have more in the bank, and the right tax strategies so you have more money.
Have Less Stress

You can relax knowing that our expert team is always making sure that your taxes are filed correctly and on time.
Do Good

You help entrepreneurs in the third world through our Slip Stream project.

Small Business Accountant — HOW IT WORKS

We don’t want to be one of those accountants that you only talk to at tax time. We are your year-round partner. Regardless of which service level you select you can rest assured that we’ve got your back every step of the way.

Book your free consultation

Meet your new bookkeeper, accountant and coach

Focus on growing your business

Get Started Now

Build the business of your dreams with the support of our team of certified coaches, qualified accountants and experienced bookkeepers.

Make More Profit
Pay The Right Tax
Organized Financial System
Financial Coach
Timely Information
Planning For The Future
Explain What You Need To Know
Cloud Enabled
High Touch

Testimonials

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Prompt and reliable accountants.

"Fuel Accountants has been my accountant for six years. They have been with me on my journey from inception of my business to now. Not only have they been prompt and reliable accountants but also business advisors.

I am very comfortable with the working relationship and ease…Read More

-Cheryl Ganly-Lewis Natural Breastfeeding
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At last I have found a great Accountant.

"I was referred to Fuel Accountants after several years of being at the mercy of poor Accountants. I knew my accounts were in a mess and was not a great fan of Accountants anyway.

Looking at the jumble Peter inherited 12 months ago,…Read More

-Shirley Tracy Red 2 Green Workplace Enablers Ltd
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We really like that Peter is down to earth.

"From the first meeting with Peter we felt that at last we had found 'the' accountant that would be able to actually help us manage our finances in our small self employed business.

We really like that Peter is down to earth,…Read More

-Lance and Sherelyn Philip
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I needed someone who I could trust.

"When I started up my business I needed someone who I could trust, someone who would give me unbiased advice and cold hard facts, as opposed to someone who might try to impress me with kind words in order to get my account.

Peter…Read More

-Tracey Pomare Nurse Plus Wellington & Kapiti Limited
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I would recommend him to other small business owners.

"I have worked with Peter for about a year. Peter is more than an Accountant. He has helped me with the future planning of my business and shown a personal interest in my shop and rental properties.

I now have a clear…Read More

-Alison Lillyston Park Ave Lotto

view all

Xero Accountant — About Us

We are a global, virtual, cloud accounting and consulting firm. Specializing in Xero – a completely cloud-based accounting platform, our mission is to help entrepreneurs create sustainable and profitable businesses. We have offices in the Wellington (New Zealand) and Toronto (Canada) regions – but you’ll never need to visit them as we are completely virtual.
Learn More

Here are the things that all clients get:

Our No-Surprise Fee Policy
No-charge for asking questions
Cloud accounting software included

Serving clients virtually across Canada, USA, New Zealand, Vancouver, Washington, Portland, Oregon and all around the globe.

Contact Fuel Accountants - Xero Accountants/ Bookkeepers in Canada & NZ

RECENT POSTS

As more information becomes available, it turns out that there were some definite warning signs about the submersible that imploded recently. Had the participants paid attention to certain warning signs, they might have been able to avoid the disastrous consequences that occurred. Last month we talked about business implosion. This month we’d like to…Read More

-Did you think we were done talking about business implosion?
Recently the world was transfixed on a catastrophic event where several people lost their lives due to the implosion of a small submersible vessel called The Titan. Some people called the people involved heroic explorers, others called them silly for taking such a great risk. Which camp are you in? Read More

-Are you in Danger of a Business Implosion?
What’s that you say? What have I been smoking? No, really, I’m not kidding you here. Service businesses really do have inventory they are trying to sell. Now before you think I’ve really gone off my rocker, let me explain… A service has two main things to sell: Time Knowhow And hey goofball, anytime you provide a…Read More

-Did You Realize That Your Service Business Has Inventory?
It all depends on which world you’re in… What’s that you say? That doesn’t make sense to you? Well, it might if you think about it a little. When we experience cash shortages, our behavior changes, and sometimes it’s not always for the better. Let me introduce you to two different worlds: The Cost WorldRead More

-Are cash flow problems draining your business revenue?
Lots of people talk about how unique their products and services are. Many times when I listen to them, I start yawning. Boring… Why? 2 main reasons: Sellers tend to look at their offerings from their perspective. How much did this cost me to produce? What features and benefits should I offer? Sellers can be…Read More

-Are you sure you know how to customize your offering for customers?
Software Subscriptions (SAAS products) are a major expense for many (if not most) business owners. And it’s no longer just one or two subscriptions - most businesses now have 10 or more active software subscriptions. And prices can be really expensive - I’ve got one that costs us around $1000…Read More

- Top 10 tips to save money on your software subscriptions
If you participated in the Canadian governments COVID business loan program (called the “Canadian Emergency Business Account” or CEBA for short) then you benefited from a loan of up to $60,000 of cash during the pandemic. But like all good things, they come to an end and these loans have an important deadline coming…Read More

-Are you giving away $20,000 of free money? CEBA Loan Forgiveness Deadline approaching fast!
Here’s an interesting fact: Every organization has 3 main functions: Sales and Marketing to generate opportunities,and close deals. Operations to produce and deliver the goods/services sold Finance/Administration for accounting, HR, and other admin functions. Knowing this allows us to understand how work flows through the company. In fact, it’s linear. It must pass through all 3 functions…Read More

-The problem of wandering bottlenecks, and how to settle them down
Well, is it? If you are struggling a little with that let’s talk about how to turn that around. Online businesses have two main challenges: Inventory Management Promotion/advertising Management Really both of these areas stem from the same core problem. What’s that you say? Allright, I’ll just say it again. In order to have a successful online…Read More

-Is Your E-Commerce Business Profitable?
Have you ever asked yourself this question? There are several reasons this is important: Do you like your customers? Some we really like, some we tolerate, some we dread every time the phone rings. So in other words, some customers suck up energy and some give us energy. Which can you do your very best…Read More

-Who is your ideal client/customer?
It’s ok, you can be totally honest with me. And I will be honest with you, too. Most business owners hardly ever look at their financials. There are several reasons for that: The financials are not very accurate It’s difficult to read the financials because they are so messy looking It’s difficult to understand how those financial…Read More

-Does Reviewing Your Financials Sound Really Intimidating?
Cloud storage is now easily available to everyone. This gives the advantage of knowing that your files are backed up and being able to access them from anywhere. You shouldn’t be storing important files on your computer alone or on memory sticks. But just throwing files randomly in a folder isn’t helpful either.…Read More

-How should I store my business documents
Do you remember the comedian Rodney Dangerfield? That was his signature line. “I tell you, I don’t get no respect. When I was born, I was so ugly the doctor took one look at me and slapped my mother.” Do your people respect you? Are you getting the results you need from them?…Read More

- I Don’t Get No Respect…
Instead of living in the “Cost World” try living in the “Throughput World.” If you are focused on the speed and amount of throughput in your business (while maintaining costs) you are assured of making more money now and in the future. Why is that? It’s because you are looking operationally and systematically…Read More

-Try this hat on for size!! (How to increase your company throughput…)
It all depends on which world you’re in… What’s that you say? That doesn’t make sense to you? Well, it might if you think about it a little. When we experience cash shortages, our behavior changes, and sometimes it’s not always for the better. Let me introduce you to…Read More

-Are cash flow problems draining your business revenue?
Have you ever thought about this? When your business grows, cash can become strained. Why is that? Great question. That shows your interest is piqued!! The answer is actually quite simple. When your business grows you need additional working capital. Think about that for a moment. When you hire additional employees, expand your inventory…Read More

-Why is it so Expensive to grow? (How to use PFCMS as a Strategic Planning Tool)
Such a question!! And the answer changes about every 15 minutes. Some economists say yes, some are not so sure. Isn’t it strange that we keep listening to disciplines that never have to be right? Economists and weathermen! People we love to hate!! So what should we do about this?…Read More

-Is there a recession coming? Oh, well let's ask our economists!
Xero is changing the way that it connects to BNZ for its bank feeds. You need to make a one-time change to ensure that your Xero bank feed continues uninterrupted. While this change doesn't have to happen until late August, it's best to get this done now. Before you begin…Read More

-It's time to change your BNZ Bank Feed
Sometimes I get a little frustrated and feel stuck. Do you ever feel that way? No? Well, then skip this article. But if you do, and you’re thinking about swatting something (leave that poor puppy dog alone…), let me share something that really helps me work through “stuff” when it…Read More

-Are you ready to SWOT something?
Did I just get your attention? I’m very glad I did!! So by now you’re asking how in the world can I make such a bold claim. I can absolutely guarantee it. How? By implementing our “Profit First Cash Management System (PFCMS)". Have you heard of Profit First? Our friend (yes,…Read More

-Who wants game changing business advice that will 100% guarantee that your business is profitable?
Frequently we get a new client that has a great business and is running it with their “best friend.” They have total alignment and everything is running smoothly and they can’t foresee even the possibility of things not working out perfectly. We love these clients! But we hear ominous ticking…Read More

-Do you need a Shareholder Agreement?
Starting in April 2024 new rules apply to charging GST on holiday accommodation in New Zealand. Previously, if your gross revenue from accommodation was under $60,000 per year then you did not have to register for GST or charge your guests GST. While that general rule continues to exist, operators…Read More

-GST Changes for Holiday Accommodation
Last week I got an automated call from my credit card company. They had noticed some strange activity on my credit card and wanted me to call to verify the details. Their message was pre-recorded and automated (I’m feeling suspicious already - I already get several scam calls a…Read More

-Customer Frustration Department
IMPORTANT NOTE: This article discusses Canadian Taxation matters and may not be applicable to those outside of Canada. Personal circumstances play a significant role in determining your taxation situation and should be discussed with a tax professional to determine your unique situation. This information is provided for informational purposes…Read More

-Taxing Crypto in Canada
In school, our parents and grandparents studied the 3R’s. Do you know them? Reading, Righting, and Rithmetic. There is even a song about it called “School Days.” How about putting a more modern spin on it? 'Reading' “There are none so blind as those who will not see.” This has nothing…Read More

-Do You Know Your Business 3 R’s?
Most online banking platforms have a Tax Payments module that will allow you to set up your business tax payments. Please note that most will need payments setup one day in advance of the due date. Please note that if the due date falls on a Saturday, Sunday or non-banking day then…Read More

-Making Business Tax Payments to CRA
We love to focus on profit and business growth. But sometimes (for all sorts of reasons) we still need to shut down a business. This needs to be done and planned well. It will take several months and the steps will vary based on location and situation. The following steps are designed for…Read More

-Shutting down your business
When you work in the service industry it is common to have to spend money in order to deliver the service to your client. In many cases you may be able to charge these expenses back to your client. This practice goes by many names, including Reimbursements, Recharges, Billable Expenses, Disbursements…Read More

-Managing Expenses on behalf of Clients
You’ve Got Problems? Whoa, Dude (or Dudette), We need to talk!! Last month we started talking about how our “Profit First Cash Management System” can help you better manage your contracting business. Now it’s time to show you some of the snakes hiding in the grass. Oh yes, there…Read More

-Typical problems contractors have implementing our Profit First Cash Management System (PFCMS)
One look at my name and you’ll know that I have an Italian background. You should also know that I’m from Chicago, and yes, I really do have an Uncle Vito. So I speak with some authority when talking about a “Mafia Offer". What is a mafia offer? It’s an offer too good to…Read More

-I’ll Make Them An Offer They Can’t Refuse…
Oh Great, Another New Tax to pay?? Underused Housing Tax Act (UHTA) Canadian Bill C-8, which proposes the Underused Housing Tax Act (UHTA), was introduced in December 2021 and received royal assent in June 2022. What is it? It applies an annual 1% tax on certain underused residential property in Canada. …Read More

-Underused Housing Tax Act
Businesses tend to progress more consistently if the owner sets financial goals and makes a plan to achieve them. The new year is a natural time to decide what you want to achieve and how. With that in mind, read on to learn the steps for setting financial goals for your business for…Read More

-Setting business financial goals for 2023
CashFlow is the Fuel That Keeps Your Business Running For contractors, the idea of cash flow management can seem overwhelming. But with the right strategies, you can ensure that your business has the necessary funds to cover expenses and remain profitable. With Profit First, you can learn how to manage your…Read More

-Is Your Contracting Business Running Out of Fuel?
What is always in front of you but can’t ever be seen? Yup, the future. None of us have a crystal ball where we can clearly see the future. But that doesn’t mean we can’t be response-able to meet any challenges that are thrust upon us. Sounds simple? It is simple, but…Read More

-There are none so blind as those who cannot see…
A business that involves inventory is exciting to set up, but it also comes with its share of challenges. It’s easy to become overwhelmed by inventory management. Adopting some helpful tools and strategies will make the inventory management process much easier. Read on for some tips on how to improve your inventory…Read More

-How to improve your inventory process
“Five frogs are sitting on a log. Four DECIDE to jump off. How many are left? Five, because deciding is different than doing.” What is the meaning of this riddle? Allow me to state the obvious. Just…Read More

-Five Frogs are sitting on a log….
Few business owners enjoy breaking the news of an upcoming price increase. However, when you own a business you have to deal with ever-increasing costs. Although inflation is an unpleasant part of life, it is still part of life. Price increases are inevitable for a sustainable business. If you want to stay…Read More

-How much you should raise your prices
Upgrading or changing your payroll system comes with a ton of wonderful benefits. Saving time and money, making everyone’s lives easier, and better integration are all good reasons to consider a change. But if the switch is mishandled, the results can be catastrophic and lead to long-lasting problems. Read on for some…Read More

-5 common payroll implementation errors you can easily avoid
In a world with endless distractions, it’s no wonder that we find it difficult to complete tasks. Focus is hard to come by these days. This is especially true when you’re working from home. Household tasks that would otherwise be out of sight and out of mind are suddenly in your workspace.…Read More

-Time Blocking vs Time Boxing, other techniques, and how it all fits together
Fuel Accountants wishes you and your family a wonderful Holiday Season and a happy, healthy, and peaceful New Year 2023! We would like to inform our clients that our operating hours will be reduced over the holiday period so we can spend time with family. However, we will continue full coverage…Read More

-Season’s Greetings from Fuel Accountants
When starting a small business, business owners often think about things like the storefront, branding, and displays. They think of smiling employees and happy customers. It’s not usually the image of the shelves and cupboards in the back stockroom that fill their heads. But inventory is a critical component of your business.…Read More

-How to manage small business inventory
There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have their own implications for your business and its employees. On top of that, there may be a blended model at play, in which you offer two types of compensation…Read More

-The differences between wages, salary, commission, and bonuses
The process of onboarding employees is often lengthy, but it’s important. New hires need to learn your company’s culture, policies, and procedures. You also need to get some critical information from them so that they can legally work for you. The onboarding process is typically long and a little dry. It may include…Read More

-5 advantages to using electronic onboarding
There comes a time for every small business to raise their prices. While it may seem scary, remember that it’s your job to keep prices fair, both for you and your customers. That means you have to charge prices that work for you and allow you to remain in business. Read on for six…Read More

- 6 Reasons Why You Should Raise Your Prices
It seems that every news outlet is sounding the alarm about high inflation these days. While it might sound like it’s time to panic, you don’t have to. With a few adjustments, you can handily fight off inflation and possibly even benefit from the current economic climate. Read on to discover 5 ways you…Read More

-5 ways to combat inflation
When you start a business, you’re typically your only employee and payroll is about as simple as it gets. But as you grow, you hopefully find yourself in the position of needing to take on more employees. Before you know it, what was once a very straightforward task becomes a giant undertaking that’s…Read More

-5 ways outsourcing payroll can help you
When you think of financial planning, you probably imagine ways to increase your wealth, such as making a budget, reviewing what’s coming in and going out, and creating a plan for how to make the most of your money. You may think of investing in stocks or bonds, or of starting a retirement fund.…Read More

-What is lifestyle planning and how does it affect my finances?
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. If you are a business or non-profit organisation in Canada then the answer is YES. You are required to issues a…Read More

-Should I be issuing T4A slips?
Most companies need a website to conduct their business, but it’s also a critical piece of the puzzle in attracting amazing team members. Here are a few things you can do to make sure your website is always making a great impression, so you can attract great people to join your team. 1. Think…Read More

-How to use your website to attract quality staff
Complaints are an unfortunate part of running a business, but they do happen. No matter how hard you work to please your clients, eventually someone will have something negative to say. However, with the right approach, you can turn complaints into a useful tool to strengthen your business. Here are 6 tips to effectively…Read More

-How to respond effectively to complaints
Preparing your End of Financial Year (EOFY) information often feels stressful—there are receipts to sort out and reports to review, and you need to make sure you have all the necessary information about your income and expenses. It can be overwhelming, and it can make the EOFY feel daunting. Read More

-3 Tips to Make the Most of the End of Financial Year
Buying a property is a big investment. It’s often one of the most important investments people make in their lives. When it comes to getting a mortgage, many buyers focus solely on the immediate steps they have to take and fail to consider the right protections. What…Read More

-Is your home loan protected?
Sales is about addressing your customers' needs and problems. By understanding the issues clients face, you can show them how your solution solves their problem. Here are some tips for asking the right sales questions to better understand and help your customers. Read More

-How to ask the right sales questions
Businesses are increasingly moving online to expand their reach and provide the best possible experience to their customers. Being online, however, means more competition, so business owners must come up with ways to amp up their game to gain a bigger market share. If you…Read More

-3 ways to delight your online customers
Traditionally, employers have relied on giving employees raises as a way to retain their staff and reward them for being hard-working and loyal. Raises can get expensive, and there is often an upper limit for what you can offer when it comes to increasing salaries and wages. Read More

-Secrets to Keeping Your Employees Happy
If you’ve been considering making the move to a cloud-based accounting system, you’re not alone. Cloud technology has impacted many business functions, including making managing financial aspects of your business easier and more efficient. Cloud-based accounting moves your accounting from being hosted on your computer’s harddrive to an…Read More

-4 Reasons to Switch to Cloud-based Accounting
From calculating taxes on online sales to inventory management to figuring out shipping logistics, running an eCommerce Fulfilled By Amazon (FBA) business comes with a whole host of challenges and considerations. Your bookkeeping and accounting solution needs to be able to keep up. As experts, we at Fuel Accountants want…Read More

-E-Commerce Bookkeeping By Fuel Accountants
Early retirement may sound like a big dream, but it is achievable if you’re willing to do some planning and stick to your strategy. Here are four steps you can take to put yourself in a position to retire early. Figure…Read More

-4 Steps to Retiring Early
Virtually everyone can use a savings account to help build up their wealth, but with so many options available, how do you pick the best savings account for you? The number of options available might make it more difficult to select which savings account to choose,…Read More

-How to Choose the Right Savings Account for You
Sometimes you want to try something new when it comes to networking with other business owners. Here are some unconventional ways for you to grow your network and bring in new leads. Collaborate with others in the industry You know your niche, so…Read More

-6 Unconventional Ways to Market Your B2B Company
If you want your business to continue growing and thriving, you’ll need to find ways to bring in new clients. Here are 5 ways you can find new clients for your business. Set aside time for marketing Regardless of whether marketing is…Read More

-5 Effective Ways to Find New Clients
With the potential for business life to return to something resembling normal, it’s a good idea to take a look at your budget and see where you may need to shift some of your priorities. Pay attention to how your spending over the past few years affected your business…Read More

-4 key areas to evaluate in your business budget
Last night the Canadian government released its 2022 budget. For all of the $327.7 BILLION DEFICIT, what does this mean for us small business owners? Well - not much at all! The obvious major implication, which we all knew would be coming, is that COVID relief is ending. So this budget does not include any…Read More

-Canadian Federal Budget 2022
Businesses are increasingly moving online to expand their reach and provide the best possible experience to their customers. Being online, however, means more competition, so business owners must come up with ways to amp up their game to gain a bigger market share. If you…Read More

-3 ways to delight your online customers
If putting together your estate plan isn’t at the top of your priority list, you’re not alone. It’s something that people typically don’t want to do–for a variety of reasons. It’s not fun to think about what happens after we’re gone, and we often believe we have a lot of…Read More

-Important Things to Know about an Estate Plan
Steady, reliable cash flow is crucial for the survival of your construction business – so taking steps to ensure your customers pay promptly is a key priority. Debtor days refers to the length of time it takes clients, on average, to pay you for the work you’ve done.…Read More

-Nine Tips to Reduce Debtor Days for Construction Business Owners
Small business owners often feel that they have to do something to stand out from the crowd and attract an audience. If that’s how you feel, you’re definitely not alone. Many business owners try to stand out by creating fancy websites that grab attention. Those may work in the short…Read More

-4 Tips for Positioning Yourself as a Market Leader
Whether your small business is business-to-business (B2B) or business-to-consumer (B2C), you likely deal with some level of customer churn, especially given the COVID-19 pandemic. Even customers who love your business and your products may have lapsed for a variety of reasons. Whatever their reasons for leaving, it’s…Read More

-How to Win Your Customers Back in 2022
Traditionally, employers have relied on giving employees raises as a way to retain their staff and reward them for being hard-working and loyal. Raises can get expensive, and there is often an upper limit for what you can offer when it comes to increasing salaries and wages. Read More

-Secrets to Keeping Your Employees Happy
When you run your own business, it’s tempting to take on every responsibility. There are many reasons for doing so: because you want something done a specific way, because you don’t have the time to explain how to do it, or because you’re not sure someone else can handle the…Read More

-6 Tips to Improve Your Delegation Skills
Owning your business requires many skills, and among the most important might be the ability to manage negotiations. As a business owner, you could find yourself negotiating in many circumstances, such as: Salary and job expectations with a potential employee Financing terms with a…Read More

-4 Tips to Improve Your Business Negotiation Skills
When it comes to managing your finances, there are two professions that can help you understand your numbers, and ensure you have a plan to get to where you want to be. Accountants and financial planners can both play an important role in your financial success, but there are some…Read More

-Differences Between an Accountant and a Financial Planner
Financial security, whether that’s for a business or an individual, requires planning. You need to know where you want to be, where you are now, and how to cross the gap between the two places. Having goals and a plan makes it more likely that you’ll achieve financial security–whatever that…Read More

-Setting and Achieving Financial Goals
When a business first starts out, it’s natural for the owner to be a jack-of-all-trades. You may not have the capital to hire specialists or access to the technology that can help you. As your business grows–or as you look to take a smaller role in your company–you may find…Read More

-5 Steps to Setting Up Your Business Processes for Success
Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case. Read More

-How Much Cash Does My Business Need?
Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of…Read More

-Cash Flow Advice for Small Businesses
These days, businesses have plenty of options when it comes to choosing software. There are hundreds of developers creating and perfecting new products designed to help you more effectively and efficiently run your business. With so many options available, it’s important to focus so you know where…Read More

-How to Choose the Right Software for Your Business
Covid has resulted in many business transformations. While some small businesses found themselves shifting their offerings, others moved online or found new niches. If you’re wondering how to continue moving your business forward following Covid, you’re probably not alone. Here are some important tips for navigating the…Read More

-Tips to Navigating the Post-pandemic Business Landscape
More companies are exploring their options when it comes to employees working remotely. There are numerous reasons for doing so: Increased worker morale More flexibility in work schedules Enhanced cost savings by not paying for office space. With all the benefits,…Read More

-How to Make Work-from-home Work for Your Team
We offer tax preparation, filing and consultation services in both Canada and New Zealand. To book a consultation please click here: https://nzcanada-fuelaccountants.youcanbook.me. Moving to New Zealand from Canada? Read our summary here. While Canada and New Zealand have much in common, the tax systems are very different. Any time you…Read More

-Tax Issues when moving from New Zealand to Canada
These days, many people are doing their Christmas shopping online, which means there’s a fantastic opportunity for you to get your business noticed by new customers. People who first find your business online at Christmas become loyal, long-term customers when you give them outstanding customer service and value. Read More

-How to Capture the Christmas Rush and Grow Your Customer Base
The start of a business is an exciting time. You’ve got a great idea for a business and are enthusiastic to get started. It’s important to plan ahead to give your business the best chances for success. Planning ahead means anticipating challenges and developing ways to successfully address them, so they don’t upend your start-up. Here…Read More

-Top 3 reasons start-ups fail and how to avoid them
Running a business in a smaller city may mean you have a more limited talent pool to draw employees from, but it doesn’t mean you won’t have access to top-notch workers. You may need to alter your recruiting strategy to show those skilled employees why they should consider working for your smaller business…Read More

-How to attract great employees in smaller cities
If you’re looking for people to invest in your business, be prepared to answer some important questions. Investors look for smart investment opportunities that means they want to find out as much as they can about you and your business before they make a decision about whether or not to invest with you. It’s vital to have…Read More

-Questions to prepare for when pitching to investors
Balancing customer experience against your budget is a difficult task. You need the right amount of staff working to keep customers happy, but not so many people that workers are standing around looking for things to do. If your customers have long wait times, that’s…Read More

-4 Ideas to Manage Customer Wait Times Without Hiring More People
We offer tax preparation, filing and consultation services in both Canada and New Zealand. To book a consultation please click here: https://nzcanada-fuelaccountants.youcanbook.me. Moving from New Zealand to Canada? Check out our article here. While Canada and New Zealand have much in common, the tax systems are very different. Any time you move…Read More

-Tax Issues when moving from Canada to New Zealand
You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy and money so vital tasks get done more efficiently, freeing up your personal time. Too many business owners think they must keep working harder—taking on more responsibilities and working longer hours—to be successful. It…Read More

-3 Tips for Working Smarter and Gaining Personal Time
You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy, and money so vital tasks get done more efficiently, freeing up your personal time. Too many business owners think they must keep working harder—taking on more responsibilities and working longer hours—to be successful. It…Read More

-3 Tips for Working Smarter and Gaining Personal Time
If you’re looking to grow your business, you might consider expanding your service offerings. Adding additional services is a good way to increase your profitability, diversify your income and expand your market. But there are important things to consider before adding to your income streams. Here are 4 important things to keep in mind…Read More

-4 Things to Consider Before Expanding Your Service Offerings
If you want your business to grow, at some point you’ll have to think about scaling it. Scaling it isn’t exactly the same as growing it, though they are often used interchangeably. Growth refers to adding resources and increasing your revenue in a linear fashion. You double your number of offices to double…Read More

-How to Scale Your Business with Minimal Effort
The unfortunate reality is most business owners don’t take proper holidays. Usually this is because their business relies on them and they don’t have the support to keep the business running without them. As a business owner, have you ever considered what would happen to the business if you had to take a six…Read More

-Succession Planning: A will for your business
Starting your own business requires enough capital so you can pay your bills until your company turns a profit Depending on the type and size of your business, you may need thousands of dollars monthly to cover overhead. If you’re wondering where to find business start-up funding, there are a variety of options available to…Read More

-5 Funding Options for Start-ups
Starting a business means you’ll be in competition with other companies that already exist. It’s actually a good thing if you have a competition to go up against. Competition pushes you to be innovative. It also means there’s an established market for your goods or services. The key to benefitting from the competition is…Read More

-4 Ways Small Start-ups Can Take On Established Competitors
You started your business with plans of earning a living and being successful, but an unfortunate fact of business life is that companies suffer financial hardships. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same. Your finances are negatively affected and it’s up to you…Read More

-5 Ways to Recover After a Financial Setback
Hopefully you have long – and short-term plans for your company and you may even have a strategy for your own development, but have you considered having a personal development plan (or individual development plan) for employees? An employee personal development plan is an action plan that focuses on helping staff improve their knowledge,…Read More

-Tips on creating personal development plans for employees
One classic mistake business owners make when money gets tight is to stop marketing or cut their marketing budget. At first glance, it seems logical to cut down your expenses during tough economic conditions. However, in reality, it’s the opposite of what you should do. When your business is struggling, cutting your marketing budget…Read More

-Why Smart Business Owners Never Stop Marketing
Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Although…Read More

-How to Build an Effective Financial Plan for Your Business
Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash…Read More

-Cash Flow Advice for Small Businesses
For small business owners, the risk of data breaches and fraud is high, so taking all the necessary steps to protect your sensitive data is a must. Unfortunately for many entrepreneurs the decision to increase their company’s data protection comes too late – after they’ve been victimized by a malicious hacker. The good news is,…Read More

-You should be using two factor authentication
Your 30s are an exciting time. You’re typically making more money than you were in your 20s and you’re looking to the future to determine the type of life you want to live. Your 30s are also a great time to take control of your finances, so you have more security and flexibility…Read More

-5 Financial Tips for Your 30s
It’s one thing to manage workers when they’re all in the same place at the same time. However, when you run a construction business with field workers, things can get a lot more challenging. Not only are you typically not on the same job site as them, you might also have workers scattered…Read More

-Managing Field Workers in Your Construction Business
For many business owners, partnerships are an ideal way to run a business. Operating a business with a partner means you don’t have to make all the decisions on your own. It means you have someone there with you, to help you carry the burden and share ideas with. That can be a…Read More

-3 Reasons Why Business Partners Break Up and How to Prevent Them
If you ask 100 business owners what they like least about running a business, chances are good that bookkeeping will rank high on the list. It’s an annoying and frustrating chore that takes up a lot of time and is easy to put off until tomorrow. Avoiding your bookkeeping is dangerous, however. Not knowing…Read More

-3 Consequences of Avoiding Your Bookkeeping
The question of motivating employees is often on a business owner’s mind. It can be difficult to find ways to genuinely motivate employees at work, and often the old standards—performance-based bonuses, increased rewards and commissions—only work in the short-term, if they work at all. In fact, some tests have shown that the usual…Read More

-3 Ways to Motivate Workers
Financial management is a vital part of running a successful business, but often entrepreneurs start their business with little understanding of how to make solid financial decisions. Managing your finances is about more than bookkeeping and paying taxes—although those are also important to a sustainable business. It’s about managing cash flow, preparing for…Read More

-6 Vital Money Management Tips for First-Time Entrepreneurs
For some people, early retirement is a choice. For others, it’s a necessity. Regardless of which group you fall into, there are some steps you can take to help make early retirement a reality and live the life you dream about. 1. Know your goals Before you know exactly how much money you need to…Read More

-5 Steps to Early Retirement
Every business experiences slow periods when the market for their goods or services lessens and sales drop. Business owners might be tempted to view down times as unproductive or wasted, but there are ways you can make the most of your business during these seasons. When COVID-19 first struck many businesses found themselves…Read More

-4 Ways to Make the Most of Business Down Time
Gone are the days when an entrepreneur was expected to be entirely focused on making a profit. Obviously, earning money is important to being sustainable and therefore staying in business, but it’s possible to both earn a profit and make a positive difference in the world around you, too. There are great reasons for…Read More

-Ways to Make a Difference While Making Money
Living a debt-free life is one of the dreams of many people. However, paying down your debt is easier said than done. Some people struggle to keep up with their monthly bills and become overwhelmed with the amount of debt they have to pay. In these circumstances, it’s easy to “stick your head in…Read More

-5 Tips to Get Out of Debt Faster
If you’re a Canadian or Kiwi business and you work with customers in the US it probably won’t be long until someone asks you to complete a version of form W-8. In fact, they all should ask you to complete it, but many don’t know of it’s existence. The form is part of the…Read More

-How do I complete the U.S. W-8BEN-E form?
Online reviews are an important marketing tool for many small businesses. They give potential customers and clients a chance to see how effective your goods or services are, how responsive you are to your clients, and what other people’s experiences of your business have been. The vast majority of people check online reviews…Read More

-How to rebuild trust after a bad online review
Many entrepreneurs start their business with the goal of earning an income for themselves, but they often think of the business only in terms of them running it. In truth, there is a huge benefit to starting a business either with the goal of selling it or at least setting it up so it…Read More

-How to build a business you can sell
The start of a business partnership is an amazing time. Generally speaking, both people are invested financially, emotionally and professionally in the business. It may be stressful to start a business but doing so with a partner gives you someone to share the responsibility and workload with. When you and your partner collaborate…Read More

-What to do when a business partnership breaks up
There are many people who believe that when it comes to investing, nothing beats real estate. This may be true, but you still have to be smart when making your real estate investment decisions. Although investment properties can be a savvy financial move, there is plenty that can go wrong if you don’t…Read More

-Tips for buying your first investment property
The first day of a new job can be overwhelming for new employees. There are company policies and procedures to absorb, colleagues to meet, and job duties to learn. That stress can make the first few days of a job uncomfortable. As a small business owner, it makes sense for you to make…Read More

-Simple tips for onboarding new employees
When you run a small business you likely want to spend as much time as possible on the tasks that make money for your business. Unfortunately, there are many day-to-day chores that require your time but aren’t necessarily worth your energy. Faced with those errands, many small business owners either spend their valuable…Read More

-Can a Virtual Assistant Help Your Business
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. In December 2020, the NZ Government passed legislation to implement a new personal tax rate of 39% for those with personal incomes above $180,000.…Read More

-New 39% Personal Tax Rate For NZ’s Highest Income Earners
Still Doing Your Own Payroll? Here’s 3 Reasons Why You Should Stop At face value, it seems like a great idea. If you’re a small business owner with just a few employees, you probably think that hiring a payroll specialist is an expense that you can avoid. You feel that you can handle it yourself. You…Read More

-Still Doing Your Own Payroll?
All business owners need to be aware of their break-even point — that is, the number of units they need to sell in order to cover their operating costs. Once you’ve reached your break-even point, it’s time to celebrate: your business is no longer in the red, and you are officially earning a profit. This…Read More

-Do you know your break-even point?
Some small business owners find themselves in the difficult position of running a business that appears to be profitable, but still having no money in the bank. It’s an important situation to address. After all, a lack of adequate cash flow is one of the main causes of small business failure. Here are three…Read More

-If my business is making a profit, where is the cash?
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. It’s all the rage to hire casual or fixed-term staff as “contractors” and not put them on payroll. This is often advantageous to the employer…Read More

-Contractor or Employee
Your business us growing and you’re ready to take the plung and hire an employee. Congratulations. There are a number of things that you need to think about, especially as you get started. Please also note that lows vary by Province – based on where the…Read More

-Hiring your first employee
When it comes to the overall success of your business, one of the most important decisions you’ll face is how to price for the work you do. Charge too much and you could scare away potential customers. Charge too little and you could run yourself out of business. Figuring out how much to charge…Read More

-Signs you’re undercharging for your work
If your small business operates on a tight budget you might be tempted to eliminate costs that you think aren’t necessary. Often small business owners choose to go without business insurance as a way of saving money, but doing so can be incredibly costly in the long run. Business insurance is something that may…Read More

-Three reasons why you need small business insurance
Nobody wants their business to fail. Although it’s impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in the future. In a nutshell, cash flow forecasting involves estimating how much cash will be coming in and out of your…Read More

-A Beginner’s Guide to Cash Flow Forecasting
If you’ve just started working with Xero, it is normal to make a few mistakes while you’re learning. We see mistakes that are quite common – and unfortunately costly – so you should be aware of them if you want to get the most out of Xero’s powerful cloud accounting system. Not connecting all…Read More

-5 Xero Mistakes Business Owners Make and How To Avoid Them
Owning a small business in the construction industry can be incredibly stressful. In addition to the long days and hazardous working conditions, you have to worry about cash flow issues. It can take a long time to collect on payment from your clients or contractors who hired your business, and in the meantime…Read More

-Three tips for managing construction industry cash flow
Everyone wants to achieve financial independence. However, until you have enough income-generating assets, you are unfortunately dependent on someone else such as your employer. Investing in properties, when done right, can provide an ongoing income stream and a cash lump sum when you decide to sell it. If you are a first-time property investor, check…Read More

-5 Essential Tips for New Property Investors
Having total control over your finances can give you an amazing sense of freedom. However, it takes a lot of discipline and hard work for you to be able to achieve this. In this article, we will share some of the most useful tips that you can start now to live a better financial…Read More

-5 Personal Finance Hacks To Start Now
Yes you do. If your business is incorporated then you are required to have at least one meeting a year of your shareholders. It’s typically called the Annual General Meeting (AGM) and it has a few things that you have to do at it: Receive the financial statements of the corporation, signed by…Read More

-Do I need to have an Annual Meeting for my Corporation?
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. If you have a corporation registered Federally (under the Canada Business Corporations Act) rather than Provincially then you need to file an Annual Return with Corporations…Read More

-Filing your Annual Return for your Canadian Federal Corporation
Everyone wants the best for their children, and this includes being rich. Being rich is not just about money– it is about wealth in all aspects of life. In this article, we will share some life lessons you must teach your kids while they’re young to help them grow into adults who can build…Read More

-Life Lessons to Teach Your Kids If You Want Them To Be Rich
Remember when email was new and novel, and everyone thought it would vastly improve communication while freeing up time? It did improve communication on some levels and freed up employee time at first. Now, however, email has become a productivity killer. Workers have to wade through hundreds of emails in their inbox each day,…Read More

-Email: The productivity killer
Running a business isn’t exactly a walk in the park. It is definitely hard work, but a rewarding journey at the same time and you can probably attest to this yourself. Sometimes, things also don’t go as planned and you may find your business under financial distress. Suddenly you find yourself falling behind on…Read More

-Early Warning Signs of Insolvency to Watch Out For
Every small business owner knows how challenging it is to cut down expenses without somehow compromising internal or external quality. Regardless of the nature of your business, the first step to reducing your overhead costs is to take the time to go through every single expense you have. Next, assess which ones are…Read More

-7 Practical Tips to Trim Your Overhead Costs
E-commerce is growing rapidly, and recent research estimates that it will make up over 22% of global retail sales by 2023. With these statistics and the changes COVID-19 has brought, it’s more important than ever to take your retail business online if you want to stay competitive. It adds another revenue stream and keeps…Read More

-How to Move Your Brick and Mortar Retail Store Online
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. If you are operating as an incorporated body then you need to keep written records of certain decisions and actions. This is all governed by the Act that you are incorporated under…Read More

-Recording your Corporate Meetings
Countries in recession, unemployment rates rising, multiple economic indicators at their all-time lows, increased market volatility– these are just some of the economic impacts we’re seeing as a result of the pandemic. As we continue to battle the COVID-19 crisis, it is important for everyone, especially those who have had their income stream affected,…Read More

-Why You Need a COVID-19 Financial Plan
Most entrepreneurs find a time in their business when they need to access financing. It may be in the early stages of their business, when start-up costs for offices, equipment and employees must be covered. Or it may be later on, when they have to relocate, purchase more inventory or equipment, or market…Read More

-Three tips for financing your small business
When customers make a buying decision, they’re not just considering the quality and price of your products or services, they’re also evaluating the ease and convenience of the whole buying process. As a business owner, you should offer different payment options to provide the best customer experience and to ensure you receive timely…Read More

-4 Payment Options Your Small Business Should Consider
So you’ve set up your business and sold some products and services. Now, you have to send an invoice to collect your payment. But what should you include on your invoices in order to get paid faster? Even if you’ve been running your business for a while, you might be missing other information that…Read More

-8 things your invoice needs in order to get paid faster
Last week I got an automated call from my credit card company. They had noticed some strange activity on my credit card and wanted me to call to verify the details. Their message was pre-recorded and automated (I’m feeling suspicious already – I already get several scam calls a…Read More

-Customer Frustration Department
This should be something you focus on all the time. Just as the flight attendants tell you to put the oxygen mask on yourself before helping others, it’s the same in business – you need to look after yourself at all times. What are the things that fill your ‘well of happiness’? These are activities…Read More

-Step 10 of Building a Better Business: Keep your ‘well of happiness’ full
Hiring staff can be an exciting time, because it means expansion and growth in a business. Sometimes, however, companies grow before they’re ready to. Small business owners think their businesses look more professional with more staff so they hire people when they don’t need to. Here are four tips for…Read More

-4 tips for hiring staff
In these difficult times, you may find your business slowing down and sales harder to come by. Given this trend, establishing and maintaining connections with existing and potential customers have become more important than ever. So here are some simple tips to help you step up your marketing game: Read More

-Five Simple Marketing and Promotion Tips to help during COVID-19
When you’re driving, there are certain things on your dashboard that you keep an eye on – your speed, your fuel level, and the engine’s temperature. It should be the same in your business. You should have a business dashboard with 3-5 key things you’re monitoring regularly. Use this four-step…Read More

-Step 9 of Building a Better Business: Monitor your progress to reach your targets
When you’re a small business owner, you get used to people giving you advice. Sometimes you seek out their insights while other times they share whether you want them to or not. While the advice is almost always well intended, it’s not always good. In fact, sometimes it’s downright awful. Here are some tips…Read More

-The worst business advice to follow
Now is the perfect time to evaluate your financial position and come up with innovative ways to add revenue streams and generate cash. Here are five ways you might consider to improve your cash inflow: 1. Evaluate your current…Read More

-Five Ways to Bring in More Cash for Your Business
Dan Murray, CEO of Opportunity International Canada wrote a blog post this week about the impact of the current global crisis on developing economies, Here’s a quick summary of the importance of OI’s Micro Finance programmes: The essence of microfinance is financial inclusion. Families trapped…Read More

-Business with a Social Purpose
When you’re an entrepreneur, your to-do list is often long and constantly growing longer. There are an overwhelming number of things you need to do, and it can feel like they’re all urgent. In such cases, it’s easy to push important tasks to the side and focus on less-vital activities, but that often…Read More

-Creating your business to-do list
Most family business owners have a similar goal in mind – to grow the business and pass it on to the next generation of their family. While keeping the business in the family and getting to work with your parents, siblings, or children who share common goals can be a fun and rewarding experience,…Read More

-Essential Tips to Grow Your Family Business
The COVID-19 pandemic has caught most of us off guard. Who would’ve thought that the world would spend the year battling a virus? This unprecedented global crisis is a reminder that these business threats are very real and acts as a wake-up call for business leaders. Even if the scenario may seem far-fetched, it…Read More

-Pandemic Preparedness Tips for Your Business
It’s very rare these days that people just happen to find your business and become a client or customer with no work on your part. Your business has to grab people’s attention, turn curious visitors into leads and then convert those leads into sales. This means that the more solid leads you have, the…Read More

-Four great ways to get more leads for your business
Referrals are the easiest way to generate new business, and building strong networks is a great way to generate referrals. Networking and referrals are cost-effective ways to grow your business, as the return on investment can be huge. Think about the types of networking you can undertake and encourage your team to do…Read More

-Step 8 of Building a Better Business: Build strong networks to generate referrals
We’re pleased to announce our Slip Stream initiative. We’ve partnered with Opportunity International to support micro finance loans to small businesses in Honduras. We donate the first month’s accounting fees of all new clients to OI’s Honduras project. I’d like to introduce you to Maria – a recipient of OI’s micro finance programme. We’re…Read More

-Slip Stream: Supporting Micro Enterprises in Honduras
It’s natural for small business owners to think that they won’t be victims of cyber attacks. Most of the news surrounding hacking and data breaches involves large corporations, but that is because that’s where a high number of victims are affected. Hackers may find they have an easier time going after small businesses…Read More

-Cybersecurity tips for business owners
We have recently finished our four-part webinar series titled “Business Unusual.” While the content is timeless, it has been geared towards helping businesses navigate the current COVID-19 crisis. You can watch the sessions for free here: Not Business as Usual Where…Read More

-Business Unusual Webinar Series
Networking can be a key way to keep your business growing. Regardless of your industry or business size, it is hard to ignore the benefits of forming professional networks for potential partnerships, expanding your client base, and scaling up. However, while we are all constantly reminded about the importance of networking, reaching out to…Read More

-How to grow your network without networking events
As you well know, the COVID-19 pandemic is not just a public health issue, it’s also caused lockdowns and resulting financial worries on a global scale. Small businesses are not strangers to the impacts of the pandemic. According to the National Federation of Independent Business (NFIB), as of March 30th, 92% of small businesses…Read More

-A Guide to Business Recovery in the pandemic world
Have you ever set a New Year’s resolution and then reset the same one again the following year? It’s widely recognised that approximately 80% of New Year’s resolutions fail. How can we increase…Read More

-Step 7 of Building a Better Business: Get someone independent to hold you to account
More and more people are leaving their office jobs and setting up an online business these days. Running an online business offers a way for you to work from home and be your own boss. It may sound like an overwhelming process, but many entrepreneurs find it fulfilling. Read More

-Easy tips to building an online business
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. We have compiled some online resources that outline how small business…Read More

-Where to find help from the Provincial and Federal Governments during COVID-19
We know small business owners are at varying points on the technology spectrum. Some have embraced technology to operationalize a majority of their operations while others have continued to manage with minimal technology intervention for a variety of reasons. The onset of the COVID-19 pandemic is altering the business landscape and is accelerating how…Read More

-Leveraging ecommerce to innovate and transform your services
The pains caused by a recession can be excruciating, which is why most of us dread the thought of it. A recession can mean massive layoffs, jobs becoming harder to find, and wages frozen, which means consumers hunker down and spend less– often worsening the economic slowdown unknowingly. Read More

-How your business can thrive even in a recession
Being a better leader and building a strong workplace culture is crucial to having a better business. Have you ever considered whether your workplace is toxic? With the average person spending more than…Read More

-Step 6 of Building a Better Business: Be a better leader; build a strong workplace culture
For many business owners, determining the success of a business comes down to how much profit the company makes. Of course, finances are an important measure of an company’s overall success. If you don’t bring in more than you spend you won’t be in business for long. Profit, however, isn’t the only important…Read More

-Ways to benchmark your business
As small business owners look to operations after COVID-19, there are some important business questions to ask. These questions will help you determine what adaptations you want to keep, whether your business model is working, and if there are additional changes you want to make to keep your company operational through future economic…Read More

-Questions to ask as your small business recovers from COVID 19
We’ve heard this before: the COVID-19 pandemic is an unprecedented global health and financial crisis that has caught many off guard. While the threats to human life are very real, the damage to the health of businesses is really just starting to show. The seriousness of the disease and the lack of a vaccine…Read More

-Battling Through COVID-19: Finance Tips for Business Survival
I’m not going to make a long drawn out statement here. The events of the past few weeks disgust and shock me. But they do not surprise me. The murder of George Floyd was the spark that ignited the powder keg. Until the rest of us can acknowledge that there is in fact…Read More

-Why Black Lives Matter
If you’re like many small business owners you’re probably astounded by how the world has changed in a very short time. While we can all hope that the pandemic is a once-in-a-lifetime scenario, the truth is there is a lot in life and in business that is uncertain, and there is a great…Read More

-Business lessons learned during COVID-19
Your ideal structure will allow your business to become more efficient and achieve economies of scale. This increases your bottom line returns at a greater rate than your revenue. Your organization structure should allow your revenue to increase without creating bottlenecks. An organization structure should show all ten departments in your business, who is…Read More

-Step 5 of Building a Better Business: Get your organisation structure right
Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but there’s actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate…Read More

-How cash flow forecasts can help you
Since the first internal corporate note was sent—probably reminding employees about casual Friday—companies and organizations have relied on written communications to keep employees up-to-date on company policies, procedures and changes happening within. These days, though, more companies are switching to videos to relay information to their staff. In a lot of ways, video is…Read More

-How to use video for communications
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. Sylvia Ho, from Sylvia Ho Mortgages, explains how to Recession-Proof your Mortgage. She offered a free Mortgage Rate Monitor service to see how you may be able to…Read More

-Recession Proof your Mortgage
At a recent Hangout we had Ashkan Refghi & Geraint Court from CIBC Business Banking talking about Business Finance. You can reach Ashkan at (905) 505-2739 or ashkan.refghi@cibc.com . Read More

-Business Finance with CIBC
As many business owners look to life after COVID-19, an important question comes up: how do we plan to reopen our business? For most businesses, the easing of restrictions doesn’t mean a return to business as usual. There are rules and regulations in place about how companies can operate, including how many people…Read More

-What to do when reopening your business
When you own a small business, it’s vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions…Read More

-The Number 1 Thing You Need to Know About Your Business
You know what you want from your business; now it’s time to plan how to get it. Start by deciding what you want personally from your business. For example, if you need $100,000 p.a. to cover your living costs and a family holiday, and your overheads are $100,000, your gross profit needs to be…Read More

-Step 4 of Building a Better Business: Make a plan
At our hang-out this week we discussed How to Survive a Recession. Outline below. How to Survive a Recession The New Normal We won’t return to “normal” for at least a year Re-opening our economy will be a phased and slow process Social Distancing will be the norm – now an employee…Read More

-How to Survive a Recession
Even the best entrepreneurs make mistakes. In fact most would advocate that you need to make a few mistakes to learn and grow. So it’s important not to let those missteps stop you from following your dream of running your own business. There are some common mistakes business owners make in running their company.…Read More

-Three classic business mistakes and how to avoid them
At a recent hang-out I interviewed Andrew Frank, founder of Lingo Luxe Bespoke on what he’s been doing while his business is on lock-down and he can’t do the things that he normally would do. Read More

-What to do during lock-down
Your “war chest” is the financial reserve your business has built up so you can take advantage of an opportunity or cover unexpected costs or emergencies. Building a cash reserve when finances are tight, however, can be difficult. You need money to continue running your business but, if at all possible, you want…Read More

-How to build a cash war chest when money is tight
Accounting software has become a necessity for today’s accountants. After all, the tool automates and simplifies several mundane and complicated tasks. In fact, accounting software is more essential for small business owners who can’t afford to hire an accountant. Today’s accounting tools are so simple that they can be operated by a…Read More

-Cloud Accounting Software: How It Works, Benefits and Security
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. The Canadian Federal government has announced a temporary wage subsidy to help employers keep payroll alive the COVID-19 crisis. Please note that there are 2 subsidies…Read More

-Temporary Wage Subsidy
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. The Canadian Federal government has announced some temporary extensions to tax filing and payment deadlines to ease stress and cash flow during the COVID-19 crisis. Updated…Read More

-Temporary changes to tax payment & filing deadlines
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. The New Zealand government has announced a wage subsidy for employers who continue to employ staff during to the COVID-19 lockdown and while reopening…Read More

-NZ Wage Subsidy
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. On April 15 the government announced new loss carry-back rules designed to ease the tax burdens on businesses who end up with losses as a result of the COVID-19 crisis.…Read More

-New Loss Carry Back Rules
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. The New Zealand government has announced some tweaks to the tax system to assist businesses. It’s not a benefit or cash bonus, but could reduce your tax bill for the…Read More

-Increased Write off for Asset Purchases
The New Zealand government has announced some tweaks to the tax system to assist businesses. It’s not a benefit or cash bonus, but could reduce your tax bill for the 2021 tax year. Here’s the outline from the video: Increased Provisional tax threshold Normally pay Provisional Tax if…Read More

-Changes to Provisional Tax and Interest
The Canadian Federal government has announced a benefit program for those who are out of employment due to the COVID-19 lockdown. Updates since the video was recorded: The Prime Minister announced 15 April that workers earning less that $1,000 a month can still apply for the CERB. This will be great news for…Read More

-Canada Emergency Response Benefit
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. The Canadian Federal government has announced a 75% wage subsidy designed to help businesses retain (and even rehire) staff during the lockdown. The video was recorded on…Read More

-Canada Emergency Wage Subsidy
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Small Business Cashflow Loan Scheme On 1 May the government announced a new Small Business Loan scheme because “it has become clear that the support that is available to our small…Read More

-Business Finance Support
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. The Canadian Federal government has announced a 75% wage subsidy designed to help businesses retain (and even rehire) staff during the lockdown. The video was recorded on 10 April. Here’s what’s changed since…Read More

-Canada Emergency Business Account
The onset of the COVID-19 crisis has put many businesses into lockdown and severely restricted revenue. Here are some thoughts on what you should be doing NOW to ensure that your business not only survives this crisis, but can thrive through it. Read More

-Your Business Response Plan – what to do NOW?
If your company relies on suppliers in various geographic locations, it’s likely that at some point your business will face a supply chain disruption. Whether that disturbance is caused by a virus, regulatory lockdown, international tensions, changes in local laws or a natural disaster, there will probably be scenarios in which your suppliers…Read More

-What to do when your supply chain faces disruptions
Most small business owners face a time in their career when they have to communicate in ways or about topics they aren’t comfortable with. COVID-19 has put small business owners in the position of having many conversations that are uncomfortable and stressful. Whether you’re communicating with employees about business issues during the pandemic, hoping…Read More

-Communicating during a pandemic
According to Wikipedia, bookkeeping is “the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. “Simply put, bookkeeping is an organized recording of financial transactions made in an organization. Or you can say that…Read More

-Everything You Wanted to Know About Bookkeeping
The COVID-19 pandemic has proven challenging for many small business owners. It’s difficult to run your business remotely, especially if you’re not set up to do so. If you run a business that requires customers or clients to come to you, you might be very concerned about how you can continue to operate…Read More

-Ways to run your business if you can’t open your premises
Things are moving fast. This page has already been superseded. Please consult our COVID-19 summary page for more direction. What you need to know about COVID-19 for your businessCOVID-19 is hitting business owners really hard. In this video Fuel Accountant’s founder, Peter McCarroll, discusses what you need to be thinking about and doing right…Read More

-COVID-19 and your Business (New Zealand)
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. Things are moving fast. This page has already been superseded. Please consult our COVID-19 summary page for more direction. What you need to…Read More

-COVID-19 and your Business (Canada)
Gone are the days when accountants used to spend a month at the end of the year going through the piles of ledgers. Today even the smallest organization owns some form of accounting software to simplify and organize their bookkeeping. However, if you still rely on the traditional bookkeeping practices, you know…Read More

-Why Your Business Needs Accounting Software
This crucial step is so often overlooked. But without knowing your starting point, you don’t know what your path to success looks like. It sounds obvious, but many business owners plan for the future without fully understanding where they are now. Answer the following questions honestly to help define where you are now (warts…Read More

-Step 3 of Building a Better Business: Define exactly where you are now – warts and all
It’s amazing what we, as humans, don’t even know that we don’t know. New learning opportunities are everywhere, and in this digital world, there’s simply no excuse to avoid new learning. Consider how many new things a five-year-old learns each day. Children enthusiastically embrace the world of possibility and the desire to learn. Why…Read More

-Step 2 of Building a Better Business: Be open to change and new learning
What exactly does your better business look like? Be crystal clear on what you want from your business; it’s there to serve you, not the other way around. The average person spends 40,000 hours at work over their lifetime and life is simply too short to be stuck doing…Read More

-Step 1 of Building a Better Business: Define what success looks like for you
We have lots of clients who do their own bookkeeping in Xero. Here are our Best Practices for managing your own bookkeeping: Keep your personal transactions out of the business bank account. If you need to spend on something personal transfer funds to…Read More

-Best Practices for using Xero
You’re in business, congratulations, that takes courage and commitment. It’s not easy, and at times you might question why you’re even doing it, particularly after the impact Covid-19 and the associated lockdowns had on business. But you’re here because you had a vision.…Read More

-Building a Better Business in 10 Steps
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. Many Canadian business owners operate their business through a corporation rather than as a Sole Proprietor. The most common question we get is whether the owner should draw their income as a…Read More

-Should I take Dividend or a Salary from my Corporation?
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. Many Canadians support non-profit organisations through Charitable Contributions. But as a business owner, which is the most tax-efficient way to donate? Through your corporation or personally? The answer, like most tax questions,…Read More

-Should I make charitable contributions from my company or personally?
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. When it comes to paying bills, we often tend to be blasé and put our financial responsibilities into the too hard basket. Ignoring debt is the easy option at the…Read More

-Don’t be blasé about tax debt
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. Wonderful – welcome to the excitement of owning your own business. If you’re still in the early stages of starting your business here are some things you might want to do early: Read More

-Starting a Business?
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. For the purpose of these changes a contractor is someone who supplies their labour to a third person as an “independent contractor”. Those in the trades are commonly referred to as…Read More

-Withholding Tax Changes for Contractors
One thing that constantly amazes us is how quickly each year passes. The days, weeks, and months seem to roll into one, and before you know it, 8 months have passed. You’re left wondering ‘where did the time go?’ Now that’s okay as long as you plan accordingly. However, most people spend more time…Read More

-Improving Your Management Skills Is Key To Your Success
You need to retain sufficient documentation to substantiate your claim to an expense deduction and GST Input Tax Credit. The requirements are slightly stricter for something that includes GST (Note: GST refers equally to GST, HST and QST – we’ve simplified to GST here). Debit/Credit Card receipts and Paypal transaction receipts are generally not…Read More

-What documents should I keep?
A s long as you provide excellent value – people will flock to your business and pay handsomely for the privilege. Business owners often make the mistake of thinking that price is the main issue in the mind of their prospects or customers. But what they’re missing is this: if everyone is viewed by…Read More

-How To Add Value Without Increasing Your Costs
Bookkeepers can be highly beneficial for businesses of any size. They offer expertise and insight into areas that you may not have experience in. They can also take some tasks off your to-do list, freeing up your time and energy to focus on other matters. Here are…Read More

-4 Benefits to Hiring a Bookkeeper for Your Business
Receipts are vital to successfully running a business. You need receipts to track your purchases and expenses. Your clients need receipts for their tax purposes and to manage their finances. Paper receipts have been around a long time, so many people are used to them and may even be resistant…Read More

-4 Reasons Your Business Should Consider Digital Receipts
If you want to improve, you have to measure your results to see what isn’t working and, more importantly, what is. The good thing is, if you have a Twitter account set up, you can view your analytics for FREE. ‘Why do I need to see my analytics?’ you might be wondering. As with…Read More

-Understanding Twitter Analytics To Get You Results
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Overtime Meal Allowances Question : In the lead-up to Christmas the elves are required to put in long working days and to work well into the evening beyond their normal work hours. …Read More

-Seasonal Questions & Answers
Delegate: To entrust a task or responsibility to another person, typically one who is less senior than oneself. Sometimes you’ll feel overloaded, and there’s only so much you can do. One hundred things need doing, and unless you’re superhuman, it’s physically impossible to get everything done. So what do you do? Well, you do…Read More

-Delegate For Happier Employees And To Reduce Your Stress
Xero does not have any tagging or flagging system that would allow you to identify a transaction that has been coded but still needs some follow-up action or investigation. However, you can simulate this using Tracking Categories. Xero provide two Tracking Categories that can be operated independently of each other. Most Xero ledgers…Read More

-Follow-up flags in Xero
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. The suspense about whether and when a capital gains tax would be introduced to New Zealand seems to have been drawn out for well over a decade. OK, the suspense…Read More

-Safe as houses
There are so many social media channels available that it’s hard to keep up, but it’s important to be familiar with each platform at your disposal. And as you want to create brand awareness, you can’t afford to ignore what makes each one unique. If you’ve found an interesting article you want to share…Read More

-How To Market Your Business On Facebook And Twitter
The Health and Safety Reform Bill, which started its slow progress last year, took another step forward in late July with its second reading in Parliament. Meanwhile, tragically preventable accidents, particularly in high risk sectors such as quarrying, forestry, farming, manufacturing, transport and construction, keep the pressure on for better safety outcomes. The…Read More

-Risk and Reward — Health and Safety
Fuel Accounting is pleased to announce that its founder, Peter McCarroll, was awarded Xero’s “Most Valuable Professional” Award at XeroCon 2013 (Auckland). Peter’s award was for his contribution to the Xero Community where advisors and Xero staff respond to question from users all over the world. Peter is the single-most frequent…Read More

-Xero’s Most Valuable Professional
Working with the guy who shows up at 9.15am with the remainder of last night’s party on his breath is fun for no one. Nor is dealing with the undecider who takes days to produce a one-page report. Difficult people can drive…Read More

-Dealing With Difficult People In The Workplace
The economy continues to struggle, now is NOT the time to panic. In fact, if you follow our proven strategies, you can use the recession in your favour and capitalise on the weaknesses of your competitors. What may surprise you is that numerous studies dating back to 1923 (Ronald S. Vaile—Harvard Business Review)…Read More

-How To Hit The Economy Head-On And Win
One of the allures of cloud accounting is that it makes keeping your accounting records more accessible. Entering payables, managing receivables, and reconciling your bank account are now effortless. It does make you wonder whether you even need an accountant or bookkeeper at all these days! I often liken it to having a car.…Read More

-Do I still need an accountant or bookkeeper if I use Xero?
Should your website be social? Are you looking to turn that static website into something a bit more interactive for your visitors? Keep reading to discover how to become… A Bit More “Sociable”… There’s no doubt that social media…Read More

-7 Ways To Transform Your Website Into A Social Media Hub
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Vehicle licensing On 1 July 2015 the ACC vehicle licensing levy is being reduced. The cost of relicensing most vehicles will drop by around $130 a year. If you need to…Read More

-Recent Changes
We often get asked about what records you should keep, in what format, and how long you should keep them for. So here’s a quick guide to record-keeping for your business. What to Keep It is probably better to ask “what should I throw away?” The short answer is nothing. It is best…Read More

-Record Keeping 101
Inventory often accounts for a large portion of your business's current assets. Knowing how much to have on hand is a complex task. The very best of forecasts are seldom accurate and occasionally unforeseen problems do occur. Inventory management impacts different functional teams within the organization. Each team will have competing priorities and differing…Read More

-Controlling Inventory. How hard is it Really?
A Manufacturing Bill of Materials (MBOM) is like a recipe that provides all of the parts and assembly details of a product. Like a recipe, the more accurate and definitive the details, the better the finished product. Every type and quantity of part and raw material will be listed, as well as every…Read More

-The Importance of a Manufacturing Bill of Materials
We are now well on our way through 2015 and already talking about the end of the year. But setting goals is a positive step to changing your future. Everyone wants more Twitter followers. Some make the argument that numbers don’t mean anything, but each number is a person, who could be a…Read More

-How To Get More Twitter Followers By The End Of 2015
Running a social media strategy as well as being a business owner will only lead to stress and sleepless nights. But everyone is on social media, right? Even the Pope. You need to strike the balance between informative and annoying. Studies show the optimal postings for the two most popular networking sites are: Twitter: 3…Read More

-How To Have A Social Media Presence Without Being Present
If you’ve been exposed to any of our own media pieces (ads, letters, etc.) you’ll have noticed a high level of ‘personalisation’ in all of them. There’s a big reason for this… Adding any kind of ‘personalisation’ increases response significantly. Read More

-The Power Of ‘Personalisation’ And How You Can Use It To Grow Your Business
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Are you worried about paying your terminal tax bill on 7 April? We understand how terminal tax can sometimes put pressure on your business’ cash flow. Even more so, if it’s…Read More

-Ever feel you’re the meat in a tax sandwich?
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Minimum wage The minimum wage will increase to $14.75 per hour. Training and starting-out minimum wages will increase to $11.80 per hour Child support The amount of child support some…Read More

-What changes on 1 April 2015?
IMPORTANT: This post is specific to Canada. If you are not a Canadian business/taxpayer then it is probably not applicable to you. The Canadian Federal government has announced a 75% wage subsidy designed to help businesses retain (and even rehire) staff during the lockdown. The video was recorded on…Read More

-Canada Emergency Wage Subsidy
Xero has a “secret” transaction type (two – in fact) that many users aren’t aware of, and those that do often mis-use. It’s called “Prepayment” and “Overpayment”. These transaction types are actually variations of the standard Spend/Receive Money bank transaction but they have very unique treatments. These transaction types allow you to record…Read More

-Prepayments and Overpayments in Xero
A “Buyer Created Tax Invoice” (sometimes referred to in other countries as a “Recipient Created Tax Invoice” or “RCTI”) is an invoice for sales tax purposes that is created by the purchaser of the goods rather than the seller of the goods. This is common in many industries especially where the purchaser has…Read More

-Creating Buyer Created Tax Invoices in Xero
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. The government has made some major employment relations changes, effective from 6 March 2015. Changes target flexible working arrangements, rest and meal breaks, continuity of employment for vulnerable employees upon…Read More

-Employment Law Changes
I mentioned last month how important ad extensions are when using Google AdWords (in my opinion, Google AdWords should be compulsory for any company trying to advertise a presence online). Whilst ad extensions have been around for a number of months, it’s surprising how few advertisers use them, so it’s a big…Read More

-Google AdWords — Ad Extensions
The stats, for once, don’t lie… Digital marketing giant eMarketer estimates that social media platforms boast over 1.73 billion users worldwide. A number that’s expected to climb to 2.55 billion by the year 2017. What’s more, according to a recent Nielson study, 46% of consumers turn to…Read More

-Using Social Media to Grow Your Business
Last month I gave you an overview of how to create a successful Google AdWords campaign. This month I want to give you a masterclass on creating your Google AdWords ads. Over the years, I’ve spent hundreds of thousands of pounds and dollars on AdWords. Right now we spend several thousand pounds every…Read More

-Online Marketing — Google AdWords (part 2)
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. Xero just released a Canada-only update today!! They have enabled the cheque-writing tool (previously only in the US edition) for Canadian users. This is a great addition for us Canadians, given our…Read More

-Now you can print cheques from within Xero
February was the month of ‘LOVE’ so I thought I’d open this month’s issue by focusing on your customers, clients or patients. More importantly, why we need to make them feel ‘LOVED’! (it was timely while I was preparing!) On average, and for a variety of reasons, most businesses will lose between 10%…Read More

-Love Your Customers And They’ll Keep Buying
Recently I was asked ‘what is the best piece of advice you would give to a business owner for staying inspired?’. I could list stacks of ideas that would cover all the usual things like, getting a mentor, reading good books, going to conferences etc etc. But the truth is that business owners…Read More

-How I get world-class Business Coaching FOR FREE!
Use Taxes are often reverse Sales Tax that businesses self-assess. This is common in US States and Canadian Provinces with PST (BC, SK & MB) which require businesses to self-assess Use Tax on out-of-state/province purchases. Xero goes a great job of managing Sales Tax we charge on our invoices, and even on Input…Read More

-Use Taxes in Xero
Summer can be the harshest of seasons on our looks with greater exposure to the elements, especially sun, having an ageing effect on our skin. So it is especially important that you have a professional aesthetician analyse your skin at the beginning of the season to provide you with the correct information to…Read More

-Skin Care Tips
Xero has just announced that Accel, one of the top US tech investors, has invested $US100m into the company. Xero have always raised funds well ahead of the need – and with half a billing in the bank they are strongly poised to continue their development and rollout in North America. In addition,…Read More

-Xero announces (another) massive US$100m capital raising
One of the things we like to explore with clients is an area of their business that rarely gets much attention—but IS ALWAYS CLOSELY SCRUTINIZED BY CUSTOMERS — and that’s the buying process. In other words… how can you make it EASIER for customers to buy from you? In their excellent book “WAYMISH:…Read More

-Why Are You Making It So Hard?
This article is re-posted from the xero.com blog. I’m not a huge fan of the Super Bowl, but I love seeing the ads. They’re always the highlight of the whole event for a lot of people. This year there was a great ad by BMW that showed a clip of two…Read More

-Why my small business switched to Xero
It is easy to create a statement for your customers/debtors in Xero, but at present there is no easy way to create a statement to reconcile your suppliers/creditors. Here is a quick way to simulate a supplier/creditor activity report: 1. From the Account Transactions report, generate a report for the month for the Accounts…Read More

-Supplier Statements in Xero
IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. Payment Evolution and Fuel Accounting are hosting a breakfast meetup for Xero users on Feb 26 2015 (8am – 9:30am) at MaRS Discovery District. It’s free. Please register at http://www.eventbrite.com/e/xero-online-accounting-toronto-meetup-tickets-15800650170 It’s a…Read More

-Toronto Meetup for Xero Users
The last eighteen months has seen some HUGE changes in Xero—our preferred online accounting system. Let’s run down just a few of the significant ones: Files About 18 months ago Xero added the ability to attach files to any transaction. You can email files in to a designated “inbox” and then move them…Read More

-Recent Changes in Xero
Plain language in business is a global move. It’s seen as a human right, given legislation, and supported by case law. Some judges have dismissed accurate contracts in favour of Joe Public in breach, saying that the onus is on businesses to make rules clear if they want them followed. This essentially ends…Read More

-Future-Proofing Business Info
Without question, Google AdWords is one of the best marketing tools to use for your business. Since it really is one of the strategies you should be using, I’ll use the time we have this month to give you a general overview of how…Read More

-Online Marketing — Google Adwords
In June we travelled to the USA (New York City) to meet with our North American members. I’m constantly on the lookout for business ideas, things that can be transferred to our business and that of our subscribers and members. So wherever I visit, I always take time to read the press, watch…Read More

-How To Take On Your Competition And Win Big. If These ‘Guys’ Can Do It, So Can You…
Is there a dead spot in your day? It’s probably a good time to look at boosting your energy. Lack of energy is a motivation crusher for you and those around you. It’s unhealthy too – it leads to bad posture which in turn can cause workplace injuries. And of course lack of…Read More

-Office Energy Boosters
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Are you planning a Christmas function for special clients and/or suppliers and business contacts? Be aware that this will come under the entertainment regime for purposes of tax deductibility. Any…Read More

-Party party party
One of the business philosophies I’ve adopted for a number of years is that to be ultra-successful, your business must be SYSTEMISED. Even before I read Michael Gerber’s brilliant ‘E-Myth Revisited’ (if you haven’t read it, you need to—it is required reading) I realized the importance of systemization and what it can do…Read More

-Creating A Systems-Based Business
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Party party party!!! Are you planning a Christmas function for special clients and/or suppliers and business contacts? Be aware that this will come under the entertainment regime…Read More

-Office Parties – Deductible or not?
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Thinking about giving your staff a well-deserved Christmas Present of Bonus this year? Cash bonuses are always subject to PAYE and should be put through…Read More

-Christmas Presents
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. So you have a retail outlet and are using Xero to manage your accounting. Great start. But in retail, you have a number of settlement issues. There are sales on…Read More

-Handling Retail Sales in Xero
My eldest son, Thomas, turned 17 last November. Since then, in between his studying, he has been learning to drive (no accidents yet, although his driving instructor reliably informs me there have been a few close shaves!). He will shortly be taking his test, so my wife Helen and I decided to buy…Read More

-What You Can Learn From My Recent Experience Of Buying A Car For My Son
There are plenty of times when you need to be able to offset Receivable Invoices against Payable Bills. This is usually the case when you working on “trade” with someone (no cash changes hands, but you each do work of equal value to each other – you still need to account for the…Read More

-Offsetting Receivables Invoices and Payables Bills in Xero
The Bank Reconcile screen is one of my favourite places in Xero. It was, and still is, what makes Xero a clear leader over the other cloud-based accounting systems. If used properly it puts an end to unnecessary data entry and reconciliations. But there is always a catch – if used properly! It…Read More

-Fixing Common Bank Reconciliation Problems in Xero
Most businesses deal with Petty Cash at some stage. For the sake of clarity here I will define “Petty Cash” to refer to managing disbursements from a central pool of cash. The following are not meant to be addressed in this article as they are covered elsewhere: Reimbursing owners or employees for out…Read More

-Working with Petty Cash in Xero
As a business owner it’s not uncommon for you to have to pay business expenses from your personal funds. While we have previously written about the importance of keeping business and personal transactions separate we also know that in reality it happens. Whether it’s some cash spending from your wallet, using…Read More

-Reimbursing yourself for out of pocket expenses
When you own a business everyone’s got their hands out for some of your money. Whether it’s employees, suppliers, the government or even customers – you’re paying bills and paying people left-right, and center. But it’s not just business – you have a family and friends and the sports club and the girl's…Read More

-Paying Expenses/Making Multiple Personalities Work for You
Xero is a highly complex accounting environment. While the developers have worked wonders to make it simple and user friendly, this approach often masks the fact that it is a complicated accounting system under the hood! The bank reconciliation process in Xero, if provided with correct data and intelligent user interaction, should result…Read More

-Fixing Bank Reconciliation “Out of Balance” problems in Xero
UPDATE Xero has now implemented Repeating Manual Journals. They actually reached out to us for feedback on theior new feature because of this article. We’ve kept this article here just so that we can gloat – although it is no longer necessary!! ___ Xero has many great features that speed up data entry and…Read More

-Repeating Journals in Xero
A few years back I was doing a minor alteration on the family home. One of the builders who I got in to do a quote gave me his price and then said “but if you can pay cash it will be $X” (a figure about 13% lower than his first quote). I…Read More

-Go Directly to Jail, Do not pass Go, Give back $200
Most people in business avoid calling their accountant. It’s a bit like going to the Dentist – you don’t know what they’re going to say but you presume that it’s not what you want to hear and you always get a big bill for the privilege. However, like going to the dentist, not…Read More

-When Should You Call Your Accountant
A new report by the Ministry of Business, Innovation and Employment looks at outcomes of key changes to employment law made in 2011 to see if they are working as intended. What the changes were meant to do The broad aims of the changes were to: reduce compliance costs for businesses reduce employment relationship…Read More

-Evaluating employment changes
Creating Outstanding Customer Service Levels To Obliterate The Competition In 1987 Jan Carlzon, the CEO of Scandinavian Airlines, wrote the book, ‘Moments Of Truth’. It explained how he took the airline from deficit to profit by ‘moving’ the airline to a customer-focused organisation. Now, as you know, there have been many books written on customer…Read More

-Moments Of Truth
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. After the government increased the minimum wage rates earlier this year, it made a further amendment to the Minimum Wage Order, issuing a new fortnightly rate. The fortnightly rate is…Read More

-Minimum Wage heads up
We recently returned from a week’s holiday in Turkey. I love spending time away with the family—these days it’s the only real quality time we get together. Plus, it gives me time to catch up on reading. I often read what I consider to be ‘classics’ again and again. One of those books…Read More

-Focus On Customer Frustrations & Your Profits Will Take Care Of Themselves!
You may have heard about changes to the financial reporting legislation. In the short term, many people are finding it a bit hard to work out how or whether the changes affect them. The requirements are changing for some businesses that used…Read More

-Update on Changes to Financial Reporting
One thing that constantly amazes me is how quickly each year passes. The days, weeks and months seem to roll into one, and before you know it 6 months has passed. You’re left wondering ‘where did the time go?’ Now that’s okay as long as you plan your year out. However, most people…Read More

-5 Simple Time Management Strategies To Increase Productivity & Accelerate Your Growth
The world of social media has come a long way in recent years and Facebook, in order to stay at the top of its game, has taken the phenomenon one step further. Offering strategic marketing solutions, paid advertising and even the option to sell retail online, Facebook has created a portal for businesses…Read More

-Is Facebook right for your business
To understand why growth slows or stagnates in any business, we first need to look at how a typical business evolves and why the frustration starts to mount as this growth slows. We call this the ‘Growth Roller-Coaster’. Word is spread by customers and referrers about the great, cost-effective products or services and new…Read More

-Why Businesses STOP Growing
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. We have a number of Charity clients who are GST registered. The number one issue we have to deal with for these clients is sorting out what income streams should…Read More

-GST and Donation issues for Charities
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Rules around tax breaks for charitable donations have undergone a lot of change in recent years. With the introduction of the Charities Act and the removal of the restrictions on…Read More

-Charity Begins at Home
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Currently, there is no requirement for a charity to have it’s accounts prepared to any standard (such as Generally Accepted Accounting Principles) or audited by an Accountant. While many do…Read More

-Charity Audit & Accounting Requirements
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Keeping a log of your motor vehicle mileage is an important (and often overlooked) aspect of your record keeping. In this article I will give you some pointers on how…Read More

-Keeping a Mileage Log Book
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Sometimes we get a client’s list of expenses from the year and it just makes us laugh! There are things listed that clearly are not business expenses. Quite often there are…Read More

-Entertaining Expenses
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. There are a number of things changing from April 1. You should check that your payroll system has been updated for all of the following issues: Read More

-Changes from April 1, 2013
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. The 2013 tax year ends in just a few days – over this coming Easter weekend for the vast majority of taxpayers. A few minutes of preparation now could save…Read More

-Tips to Survive the End of the Tax Year
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Some of you have a terminal tax bill due 7 April 2013. If you have IRD interest on these payments, you can pay a lower interest rate through Tax Management…Read More

-Tax due in April and again in May… A bridge too far?
I was at the Xero Conference yesterday. It is exciting to see the trajectory they are on. Here are some of the features that are coming to the Xero core product soon(ish): Document Storage Ability to add documents to any transactions (not just AP Invoices) Ability to add multiple documents Cool drag and drop functionality general…Read More

-What’s coming in Xero
Generally, we want to indulge less, exercise more and be better people…. However it’s time to ponder some specific (and accomplishable) new year’s resolutions for your business. Nurture your most loyal and profitable clients . Chances are they’ll sing your praises and refer more business to you. Give something back to your community.…Read More

-Business New Year Resolutions
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. If you have a family then you may be entitled to Working For Families Tax Credits (WFF). WFF is effectively a tax rebate scheme. Many countries give you deductions or…Read More

-Working for Families Tax Credits
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. There are several ways to make a tax payment to the IRD (no, you don’t send it to me). You can send a cheque to the IRD (if you can…Read More

-Making a tax payment
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Having access to a vehicle is quite a necessity for a business these days. If you are in business for yourself your company vehicle is probably also the family car.…Read More

-Pimping your ride: motor vehicles and taxes
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Taking the step to employ staff is a big one. But the reality is that your business can’t grow much with just one person. There are lots of details to…Read More

-Looking to employ staff?
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. I find it frustrating when I buy something for business and get given a receipt or till docket and find that it is not a valid tax invoice. It’s amazing…Read More

-When an invoice is not a Tax Invoice
IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Last month I wrote about things that you should do BEFORE 31 March that could save you time or tax. This month I will highlight things that you should be…Read More

-Getting Ready for your Year-End Accounts