Today with Luke and Phil we discuss the Xero mobile app! Didn’t know there was one? You won’t be the only one! Watch this short vid to get an idea on how to use it successfully. -A-b-o-u-t-n-e-x-t-A-d-v-i-s-o-r-y Luke & Phil run the market leading business advisory and accounting practice called nextAdvisory.nz. Accountants + Advice + […]
Here is one of our LIVEstreams we did through facebook for our followers, we hope you can gain some value out of it too! If you don’t have a copy of our FREE cashflow planning tool – drop us a line. – How to prepare a cashflow forecast – How to know what information to
Another top tip from Luke and Phil today on Invoice Reminders! Xero is trying to help NZ business owners get their money quicker so make sure you take advantage of the resources they are offering! -A-b-o-u-t-n-e-x-t-A-d-v-i-s-o-r-y Luke & Phil run the market leading business advisory and accounting practice called nextAdvisory.nz. Accountants + Advice + Personality
🔸nextAdvisory – adding value beyond the numbers. 📹 TIME: 25mins �Lennie Brooky – Director Fitzone Gyms Chatting tonight with Lennie from Fitzone – 3 gyms across the Waikato. Hear from another business owner on how they are dealing with the COVID-19 situation. Questions Include – What have you been doing with spare time – Have
�nextAdvisory – adding value beyond the numbers. Have questions? Drop them in the comments, e-mail us. What ever you need. Cheers, Luke & Phil LandP@nextadvisory.nz -A-b-o-u-t-n-e-x-t-A-d-v-i-s-o-r-y Luke & Phil run the market leading business advisory and accounting practice called nextAdvisory.nz. Accountants + Advice + Personality sums up what you can expect. nextAdvisory helps aspirational business
🔸New Zealand’s business support package 🔸 This afternoon the Government announced its business support package, noting it is one of the largest packages in the world on a per capita basis. The $12.1 billion package includes: Initial $500 million boost for health $5.1 billion in wage subsidies for affected businesses in all sectors and regions,
👨🏻⚕️ A special episode of ‘Dr Phil On The Couch’ during these unprecedented times. 🔸 Practical tips 🔸 Opportunities 🔸 Don’t Fall Into Fear -A-b-o-u-t-n-e-x-t-A-d-v-i-s-o-r-y Luke & Phil run the market leading business advisory and accounting practice called nextAdvisory.nz. Accountants + Advice + Personality sums up what you can expect. nextAdvisory helps aspirational business owners get more out of
Initial Thoughts on Covid-19 – Dr Phil on the Couch Read More »
Luke & Phil run the market leading business advisory and accounting practice called nextAdvisory.nz. Accountants + Advice + Personality sums up what you can expect. nextAdvisory helps aspirational business owners get more out of their business by providing them with life changing advice. With practical guidance, innovative technology and a genuine interest in your business,
We would love to see you at the upcoming #WhatsNext Planning Day – Turning Ideas into Action. Find out more about the event here! https://www.facebook.com/events/623765844826918/ -A-b-o-u-t-n-e-x-t-A-d-v-i-s-o-r-y Luke & Phil run the market leading business advisory and accounting practice called nextAdvisory.nz. Accountants + Advice + Personality sums up what you can expect. nextAdvisory helps aspirational business
We would love to see you at the upcoming #WhatsNext Planning Day – Turning Ideas into Action. Find out more about the event here! https://www.facebook.com/events/623765844826918/ -A-b-o-u-t-n-e-x-t-A-d-v-i-s-o-r-y Luke & Phil run the market leading business advisory and accounting practice called nextAdvisory.nz. Accountants + Advice + Personality sums up what you can expect. nextAdvisory helps aspirational business
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![From what we have seen, business owners SHOULD NOT blindly pay their May tax without advice as to whether their profitability warrants it. Why? Because, 1/3rd of our clients won’t be paying tax in May. Accountants are on the front line of the economy and we have real time financial data. At the time of writing this, it is less than 10 days after the end of the financial year, and we’ve mostly finished reviewing the profitability of a good cross-section of the NZ economy: construction, engineering, marketing, e-commerce, services. All sorts. Here’s some tax insight that might help you understand what’s happening in the economy. AND, hopefully understand how tax works for many of you businesses owners. For some background, a lot of NZ SME’s pay tax in August, January and May to stay current with tax. This is loosely based on their profitability of the year before (2023FY ended 31/3/2023). This means that when they get their accounts done, they have hopefully cleared taxes on profits for the current financial year (2024FY ended 31/3/2024). We don't just tell our clients to pay tax based on last year. Every year is different. We review our clients' profitability throughout the year and by this final payment on the 7th of May, we have a really clear insight as to how profitable the financial year was. The 2 common themes are: 🔸 A lot of businesses don’t even need to make a payment in May because their profitability will be lower than last financial year, so they have less tax to pay. They've paid enough tax in August & January. 🔸 Some of those who do need to pay tax (even at a higher rate) are struggling to collect the cash (income from the work they’ve done) so they are battling to see how they can make the payment.
One of the tricky things for a growing business is that IF they don’t collect the money for the work they do in a timely manner, they will always struggle to pay their tax. Why? Because they’ve done the work, sent the invoice which recognises revenue and profit, BUT they haven’t turned it into cash in their business. [Continued in comments...]](https://nextadvisory.nz/wp-content/plugins/instagram-feed/img/placeholder.png)