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BookkeepingThe power of effective bookkeeping: real-life success stories
When a bar owner I worked with went from operating at a loss to turning a profit within one year, it wasn’t just about getting the numbers right—it was about understanding what their business needed and building a system that would set them up for success. Bookkeeping is the foundation of the accounting cycle and […]
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The power of effective bookkeeping: real-life success stories
When a bar owner I worked with went from operating at a loss to turning a profit within one year, it wasn’t just about getting the numbers right—it was about understanding what their business needed and building a system that would set them up for success. Bookkeeping is the foundation of the accounting cycle and […]
Understanding GST – A guide to the Goods and Services Tax
What is GST?
The Goods and Services Tax (GST) is a consumption tax charged on most goods and services in New Zealand. The current rate is 15%. GST is added to the price of taxable goods and services, and businesses are responsible for collecting this tax from their customers and paying it to the Inland Revenue [...]
How to manage your receipts better
There’s nothing more painful than trying to pin down a receipt for something you bought a long time ago. Searching, sorting, and filing all those bits of paper is tedious and time-consuming. However, as a business owner, you need to keep track of them when buying goods or services. If you want to claim expenses […]
Keeper of books: A co-operative approach
Throughout this article series, I have been expressing the importance of bookkeeping and its technological growth and impact on accounting for millennia. I would now like to discuss the golden opportunity to give your accountant a fresh approach. ARTICLE SERIES: KEEPER OF BOOKS Working with different sized companies that operate inversely from each other is […]
Keeper of books: Out with the old, in with the new
Traditional bookkeeping once involved tedious, manual, data entry, stuck behind the computer. Transactions were typed in one digit at a time, and bank reconciliations typically only happened once the paper statement was received or downloaded from an online banking platform. ARTICLE SERIES: KEEPER OF BOOKS The old… Paperwork needs to be filed and stored for […]