Introduction You monitor your car’s dashboard to avoid running out of gas or blowing up your engine… but do you monitor your business’s dashboard? We can help you set up a dashboard to monitor the key things in your business #BetterBusiness #10Steps #KPIs Monitor your progress to reach your targets When you’re driving, there are certain things on your dashboard that you keep an eye on – your speed, your… Read more
Coronavirus Background Got questions about paying employees, operating your business, and other employment matters while New Zealand responds to the latest COVID-19 outbreak? MyHR’s rolling update provides some answers. By Nick Stanley19 August 2021 We’ll be updating this page with questions we receive from our members about paying employees, operating your business, and other employment matters while New Zealand responds to the latest COVID-19 outbreak. To look at updated versions… Read more
Directors: Know your role Being a good director can help your company run well, achieve its goals, and maintain a good reputation. As a company director, you have obligations to your company and shareholders, responsibilities under the Companies Act 1993 and obligations under an ethical code of conduct. The Institute of Directors in New Zealand has a code of practice for directors and encourages company boards to adopt their own codes… Read more
Kindness was the byword of 2020’s lockdown. As the community faced a crisis together, a sense of goodwill and generosity extended to small local businesses, with a push to buy local and support shops, cafes and others affected by the pandemic. However, according to findings in Xero’s Small business trends 2021, many small business owners underestimate the value of kindness and community support. Interestingly, on our own facebook posts, the… Read more
My name is Lucy Burn, Client Services Manager. I did a bookkeeping course to better understand what James does. What I learnt most from that, is that in business and tax compliance, it is easy to get it wrong. We have seen some businesses claiming for wrong things and not claiming for what they can. And then they are open to penalties. It really is that Business owners don’t know… Read more
Looking after the customers you’ve already sold to, will not only increase their satisfaction levels but also makes them more likely to buy again and brings you more customers by referral. Does your after-sales service need a polish? When someone has just bought from you, that’s a golden opportunity to start building a customer relationship. Take advantage of being top-of-mind and see where it can take you – and ensure… Read more
The importance of having a business coach It can be lonely at the top when you’re running your own business. As the owner manager, the buck stops with you and that can result in all the pressures of financial management, people management, strategy and business performance ending up on your shoulders. To ease this pressure, it’s helpful to have a business coach. A coach can look at your business objectively… Read more
Our new EV Sustainability and reducing our carbon emissions (footprint) have become buzz words as our country grabbles with changes as recommended by the draft report of the Climate Change Commission and our obligations under the Paris Climate Change Agreement. As a business owner who wants to do the right thing we have looked at ways that our business operation can be more sustainable and be the first local… Read more
Helping you move your business along, with regular reviews through the year to stay on track. Allows you to take back control. You will understand your numbers and have clear goals to achieve in your business. We do this by: Helping you set your 90-day goals. 2 monthly GST return and filing included. Regular reporting of your numbers with twenty minute phone call to ensure your understand the numbers. Advice… Read more
Here in New Zealand we are most fortunate to have hardly any community spread of Covid-19. We are not taking that for granted though and are trying our best to reduce chances of it coming here; We have the Covid-19 tracer app and login wall scan for you to use on arrival. We have hand sanitizer that you can use on arrival and when leaving our premises. Please postpone your… Read more
Xero Tips & Tricks Wed 20th May 7pm This is a free learning session hosted by James Burn & Associates, in this webinar you will learn all the tips and tricks of Xero to help you become more efficient in managing your business accounting. There will also be an opportunity at the end to ask any questions you may have regarding Xero. Click the link to register:Register Here Read more
As we move into Alert Level 3, we thought it timely to update everyone on our health and safety procedures for providing a safe and compliant service to our clients through this next stage of the pandemic. Over the next few weeks of Alert Level 3 our team will continue to be working from home. We are not able to meet face to face but we have found Zoom meetings… Read more
We are all living in crazy times. It’s really tough for businesses right now. You’ve got Covid-19 support information coming at you from all directions and it’s hard to figure out how some of that support works in practice to ensure your business survives. On Wednesday April 29, 2020 at 11 am, join us for a 75 minute complimentary webinar, where we’ll cover the most important Covid-19 Government support available,… Read more
Important notice In May 2019 Kiwibank announced that it was going cheque-free from 28 February 2020. As a customer of Kiwibank, we will no longer be able to accept cheques from 28 February 2020. Please contact us to discuss other payment options or if you have any questions or concerns – James 06 8671905 For more information on this change visit www.kiwibank.co.nz/cheques Read more
Planning Holiday breaks are a great time to spend with friends and family and have a chance to recharge for the year ahead. But, for a business owner this time can be stressful without careful cash flow planning. Even if you do continue to operate through the holiday shutdown season, your customers’ financial behavior may not remain the same. It can be pretty disappointing to work hard all year only… Read more
The second cause of poor cashflow – Your accounts payable process The second cause of poor cashflow relates to when and how money is spent in your business, including your terms of trade with suppliers. Do you have spending budgets in place? It’s best practice to prepare a budget every year, usually before the start of a new financial year. It’s also best practice to make sure that team members… Read more
The first cause of poor cashflow – Your cash lockup There’s a massive difference between profit and cashflow. Profit increases when you create an invoice for work you’ve done or goods you’ve sold; cashflow only increases when you actually bank the money. Your lockup equals the cash that isn’t in your bank account because it’s either in work in progress (you’ve done some work but you haven’t yet billed for… Read more
Cashflow Freedom – The 7 causes of Poor Cashflow Cash is King in any business. In fact, even profitable businesses can fail because of poor cash flow. What’s important is that you understand your key cashflow drivers. Improving cashflow is often all about changing your business processes. Processes such as how and when you order stock and pay for it, when you bill for your products and services, and how… Read more
Steady, reliable cash flow is crucial for the survival of any business – so taking steps to ensure your customers pay promptly should be a key priority. When your customers consistently pay on time, you’ll avoid the dreaded “feast or famine” cycle. You’ll be able to pay your suppliers and employees on time – and not least of all, yourself. Implement these ten tips now to start getting paid without… Read more
The power of cash flow forecasts At some point in its lifetime, every small business suffers from cash flow problems. The trick is to think ahead and figure out when these problems are going to arise, so you don’t have to unexpectedly postpone a purchase or hurriedly seek out additional finance. This is where cash flow forecasts come in. To effectively manage your cash flow, all you have to essentially… Read more