How to Outsource Your Business Accounting

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According to statistics small businesses in New Zealand contribute a huge $60 billion to the country’s economy every year. If you are a small business owner yourself, you’ll know the importance of keeping accurate accounts to track the income & expenditure of your business. However, if you have limited resources and a small pool of staff you might not have the time available to dedicate to your finances. Enlisting the services of an accountant in Wellington will minimise the risks that are involved with mismanaged accounting practices and will save you money, time and hassle. Here’s why.

1. Save money

Outsourcing your accounting to a third-party company might seem daunting, especially if you have built your business from the ground up and kept everything in-house. However, delegating accounting duties elsewhere could save you money in the long run, especially as you won’t need to hire and train a full-time member of staff to handle your finances for you.

What’s more, you won’t have to rely on your existing staff to manage your accounts if they have other important business duties that are required for the upkeep of your business. A third-party accounting team can tailor a solution based on the needs of your company, saving you a great deal of money in the process.

2. Save time

There are likely a million-and-one things that you need to be getting on with if you own your own company. Outsourcing your accounts can free up time and allow you to focus on other areas of your business which might need attention, such as marketing, sales, customer service or business expansion. You don’t have to outsource all of your accounting work if you don’t want to and many accountants in Wellington will customise their services based on your circumstances.

3. More accurate book-keeping

Third-party companies specialise in accounting and bookkeeping so numbers, figures and stats come naturally to them. You can expect the highest quality work if you choose the right accounting company in Wellington – especially as they will be able to forecast financial trends, review your finances, file important documents like your tax return and use computer programmes like MYOB software to manage the finances of your Wellington business.

4. It’s easy

Some businesses think that transferring their accounts to a third party is a long and laborious process but this couldn’t be further from the truth. However, you will need to choose an accountants in Wellington that places an emphasis on security, especially when sending important and sensitive documents. You should always choose an accounting company that you can trust and one that has a good reputation when it comes to customer service.

Looking for an accounting team that can help lighten the financial load? Provide you with expert advice, guidance and solutions that you can count on? Count On Us are Wellington accountants that specialise in a wide range of services for your small business. Contact them today on www.countonus.co.nz to find out more.

Contact our friendly team at Count On Us to make a booking!

How to Outsource Business Accounting

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For some businesses, outsourcing their accounting comes with various benefits. It can help them focus more on acquiring new customers, ensuring the quality of their service delivery and give them more time to invest in the growth of their company. If you are thinking of outsourcing your accounting operations here are a few tips that will ensure you reap the benefits and minimise the risks.

1. Think about your goals and expected results

Why do you want to outsource and what outcome are you expecting? Answering these questions will help you be sure of your decision and prepare for any problems that might arise later on.

For example, how can you minimise communication problems between you and the accounting company? Will you feel comfortable not directly managing your own accounts?
It is also important to plan what you will do with the time and money saved from outsourcing. You can redirect it to better customer service, more extensive marketing or business expansion.

2. Finding the right company

There are a lot of things to look for in a potential accounting vendor. What are their qualifications? What about experience? What is their track record?

Take time to do extensive research on a company before you decide to go with it. If you are in Wellington and are looking for an accounting firm check that they are licensed, read what their past clients say about them and what accounting practices they uphold.

It is always a good idea to start with three or four accounting companies. Compare among them in terms of service quality, experience and pricing to find out which one best fits your business needs.

3. Cost

This is obviously a very big deal for most businesses. After all, one of the primary reasons for outsourcing is to save money. Most businesses are therefore looking for a vendor that provides exemplary services with a friendly price tag.

Again, it all comes down to doing your research. Compare among different companies to get the best price. The best way to get estimate prices is to ask for quotes from different accounting vendors. Be careful not to compromise service quality just to get low prices. Remember, if your accounting goes wrong, your business is the one that suffers.

4. Check their capacity

You want an accounting company that can comfortably handle your bookkeeping efficiently and on time. A company straining with too many accounts is not going to serve you well. If you can, check the current capacity of the company to ensure that they can handle your books well.

5. Have an extensive agreement

Before starting anything, make sure that there is an agreement in place. This ensures that both parties fully understand what has been agreed and limits the chance of problems arising later.

For the best Chartered Accountants in Wellington check out Count on Us

If you are looking for the best in accounting services in Wellington, look no further than Count on Us. Their chartered accountants are known for their excellent accounting services in the Greater Wellington region including financial planning, management consulting, tax return, MYOB software and Xero accounting among others.

Visit their website at www.countonus.co.nz to make an enquiry.

Contact our friendly team to make a booking!

Accounting for Small Businesses- Why You Need an Expert

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Taxation, accounting and finances can be confusing and even intimidating for most people. The general perception is that these areas are complicated and too difficult to understand. However, not to worry! If you have a small business and you need help with these three areas, there are experts who can make it easy for you.

If you reside in Wellington and you just started a business, or you are thinking of starting one, and do not know what next Count On Us is the company to approach for your tax, finance and accounting needs. Count On Us is committed towards helping small business owners increase their profitability with the least amount of stress and has been in the industry long enough to know what is best for you.

Managing a business, or even starting one, is a big step in one’s life. Handling the work that comes with it is also tasking especially if you are not conversant with accounting, taxation and finance management. Whenever you make the decision to trust someone else with your business records and transactions, you must choose a professional.

Count On Us has a team of trained certified professionals ready to help small business owners. In fact, their accountants are all members of the Chartered Accountants of Australia and New Zealand (CAANZ). This means that the company ascribes to the CAANZ code of ethics.

Choosing Count on Us comes with numerous benefits. Firstly, you will get sound business advice and learn how best to achieve your business goals. The experts do this by showing you how to plan your accounts and finances. They will also take care of your tax return, and assist you on how to file them.

The company has also helped clients with mortgage broking, whether for commercial or home purposes. They also assist their clients to establish trusts for family members or for trading purposes. If you want to establish a new business or buy an existing one, they will guide you through the process.

Count On Us has a good reputation in Wellington for their professional services. They ensure that their services are in compliance with the law. For instance, all their services relating to company administration are in compliance with New Zealand’s Companies Act of 1993. Apart from complying with the law, the company also keeps updating their knowledge base to stay abreast with new business technologies and techniques.

It is one thing to give sound business advice but another to stay top in a field full of competition. In order to provide the best for their clients, Count On Us arranges regular training sessions and seminars for their team members.

If you are stuck and you are looking for an expert to help you handle your business, Count On Us is your best bet. Whether you want help with taxation matters, finances and accounting, choosing seasoned and chartered accountants in Wellington is the answer. Visit www.countonus.co.nz today and get started!

Contact our friendly team to make a booking!

What Can Small Business Owners Do for Themselves Instead of Paying Someone Else to Do It

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Business is booming in New Zealand. Recent statistics suggests there were 487,880 business enterprises in the country in 2014 – up 2.5% from the previous year. A large percentage of these are based in Wellington. Regardless of the nature of your business in Wellington, there might be some tasks that you just don’t have the time to complete. But what tasks can small business owners do for themselves instead of paying someone else to do it? Let’s find out!

1. Accountancy

As a business owner, there are probably 1001 tasks that you need to be getting on with every day. By hiring an accountancy firm to carry out your accounting needs, you can be rest assured that your financial affairs are being looked after whilst you concentrate on other areas of the business. Although you might be able to carry out these tasks yourself, it can sometimes be more productive to reach out for a helping hand.

Count On Us have the necessary experience when it comes to bookkeeping and accounting in the Wellington area, and will be able to prepare your annual accounts for business appraisal, tax, and planning purposes. The company will tailor their services based on the requirements of your business and provide you with advice on a regular basis. You can even still use your own accounting software and Count on Us staff install and maintain MYOB software Wellington businesses.

2. Taxation

If you are a small business owner in Wellington, taxation can be a complicated affair. You will need to prepare a company and personal tax return, manage the tax process throughout the year, and manage any tax disputes or audits. Enlisting the services of a qualified accountancy firm, however, can make the process easier than ever before. Count On Us knows how important taxation can be for any small business, and will minimise any risks to help you achieve compliance.

3. Financial planning

As a business owner, you will need to incorporate a financial plan into your business model in order to preserve and grow capital. Hiring a company that specialises in financial planning can provide your business with the security you need. When choosing a company, you will need to opt for one that understands your current financial position and one that will provide you with the best return on your investment.

Count On Us can manage the financial processes that will help your business move forward, and help you implement a number of strategies that will benefit your company in the long run. By comprising a personal financial plan, the company can provide you with information on how to preserve capital, and how you can have financial security in retirement.

Save money in Wellington

Are you looking to save time and money? Count On Us specialise in taxation work and accountancy for home or commercial properties in the Wellington area. Using the latest business computing systems, they can carry out a number of tasks for small business owners who don’t have the resources or time to complete them on their own. For more information about the services these Wellington accountants offer, or to obtain a free quote just visit the Count on Us website at www.countonus.co.nz.

Contact our friendly team to make a booking!

Why are Accountants So Important for Business Owners

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Owning and operating a business is not an easy task, no matter how rewarding it may be. One thing all business owners learn at one time or another is that you cannot do it alone. If you do not have the skills to run a certain function of the business, it’s best to leave that up to professionals who do. This is especially true for accounting, as financial management is such an essential part of a business. Here are a few reasons why hiring an account could be the most important decision you make for your business:

1. Timely and accurate financial statements

Keeping track of how your business is doing financially can influence a lot of the decisions you will be making. Without consistent and up-to-date financial information you might not be able to do what is best for your business. If you run a business, it’s good to look into accounting services that use Mind Your Own Business or MYOB software in Wellington because then you can have a great platform to check out the business’s finances in real time.

2. Proper and lawful tax compliance

Complying with all New Zealand tax laws is very important to avoid trouble with the IRD down the road. Ensuring your taxes are done correctly throughout the year is a tedious task to which you must pay close attention. If you don’t have enough time to do this for yourself, a certified accountant will be able to assist with the process. Applying for tax refunds for your Wellington business is also easy for accountant as they know how to apply for tax breaks which you may not have even known you were eligible to receive.

3. To find cost savings in regular operations

Having a professional accountant on hand to check over budgets and financial statements could help you to find any leaks in your finances and plug them up before you lose too much money. Hiring an accountant, even part time, can pay for itself in the long run as you will be able to reduce expenditure and help to polish up your spending. Avoiding unnecessary costs is difficult if you don’t have another pair of eyes to look over your financial statements and assist in finding areas that can be trimmed down or better managed.

4. Advice on how to handle growth/expansion

Businesses that don’t know how to manage their money to accommodate growth will run into a lot of problems as they expand to meet demand. Accountants can be extremely helpful in an advisory role before and during growth periods to help you keep track of what is happening to your funds, where they will be needed later on, and how they should be allocated to bring the best returns.

If you don’t already have an accountant working full or part time with your business, it’s probably time to start looking. You will be better off hiring someone now before you think you need them instead of when you are in the midst of financial troubles. Who knows, you might even be able to find money you didn’t even realise you had!

Count on Us is a company that specialises in giving you excellent services from their certified accountants in Wellington, NZ. Hiring this team of experts could be the best decision you make as a business owner. Check out the Count on Us website, www.countonus.co.nz, today to find out more.

Contact our friendly team to make a booking!

Benefits of Professional Accounting Services for Business Owners

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Accounting is an extremely important part of your business. Improperly done accounting can have serious negative effects on your business not to mention the legal problems you might run into. To streamline your accounting process and make it more efficient, most business owners choose to hire a professional accounting firm. Doing this has several benefits:

1. Compliance to the Law

As a business owner with many other commitments, it can be difficult to check that every aspect of your accounting is in line with the law. An honest mistake can have serious legal consequences. Professional accounting can help you avoid this by ensuring that your business is tax compliance. It can also help to comply with other areas of the law such as auditing and GST/FBT/ACA obligations.

2. Financial Advice

Regardless of how good an entrepreneur you are, you may not be as good in finance and accounting. Accounting professionals on the other hand, have extensively trained in accounting practices and have a lot of experience in the field.

An accounting firm can be a crucial source of financial advice for your business. It will ensure that you do not make any costly financial mistakes and that your finances stay healthy. This advice ranges from taxation issues to compliance administration and financial management.

3. Save Time and Money

Even if you employ an accountant or two to do your business’ accounting, resulting administrative duties will still take a lot of time away from what you should be focusing on. Even more notably, it will be expensive. In addition to basic salaries, you have to think about additional employment benefits and other administrative costs.

With an accounting firm, you do not have to spend time and money watching over them and providing a good workplace environment. The result is that you save money and time resources that you can then direct towards your core business.

4. Stay on Track

Full accounting involves a lot of things; proper book keeping, filing of tax returns on time, strict compliance to the law and sound financial management. Professional accountants Wellington will ensure that your business stays on track in all matters concerned with accounting. They know how to use MYOB software in Wellington and various other accounting tools out there to ensure that everything is right and on time. This improves the profitability of your business and drastically reduces financial risk.

5. Focus on What You Do Best

Ultimately, the biggest benefit of professional accounting to business owners is being able to focus on what they do best. For your business to succeed, it requires your full focus and dedication. Accounting is too time consuming and effort demanding to allow a business owner to focus on the core aspects of the business. Hiring accounts in Wellington is a major step towards business growth.

If you are looking for the best professional accounting firm in Wellington, look no further than Count On Us. With a highly skilled and experienced professional team, they are what you need to take your business forward. Whether you need services on tax returns, financial advice or bookkeeping, Count On Us are based in Wellington and are available to help. Visit their site at www.countonus.co.nz for contact details and how to make an appointment.

Contact our friendly team to make a booking!

Integrating Your Business Accounting

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Most people planning to start a business never think much about accounting aspects of it until it is up and running. That is when they realise that it is never as easy and quick as they had envisioned. As the business grows, it takes up valuable time and effort. If you are in such a position, here are a few ways to streamline your business accounting.

1. Hire an Accounting Firm

At the moment, when the business is small and young, accounting may seem easy. You can easily do everything yourself. But as it grows, you will find it more difficult to keep your books in order and still find the time and energy to run your business. This is the time to look for professional help from accountants in Wellington.

Though it may seem like a big investment at first, it will save you time and money later on. It also ensures that everything is done perfectly in terms of accounting. This helps avoid serious financial errors.

When you don’t have to worry about the accounting side of things, you will have time to make sure that customers keep bringing in more revenue.

2. Keep Business and Personal Expenses Separate

Mixing up business and personal expenses is a common mistake that many business owners get into. Reaching for your business credit card to pay for a personal expense will lead to complications later on. Even if you do record your transactions, personal expenses paid for with business money will become too many and confusing. You might even forget to record some things.

The best way to avoid such an accounting mess is to keep personal and business finances completely separate.

3. Set Time to Go Over your Books

Accounting is never a pretty thing. It can be hard work and like most people, you might find yourself procrastinating about it. But you need to have a set time every week where you go over your books and see for yourself what is happening. Do not let your accountants in Wellington be the only person aware of your business’ finances.

4. Keep Track of your Invoices

It may seem impossible to forget that there are outstanding customer payments, it means more revenue you after all, but with the hectic pace of running a business, it is easy to lose track of your invoices. These are payments you need to recover to stay in business. Make sure that all invoices are paid on time and get firm about those clients who get late in their payments.

5. Record Every Expense

Do not wait until the end of the week to record only the major expenses you can remember. Record every single business expense you incur through the day. One advantage of this is that you are able to keep better track of your spending. It also eases the overall accounting work. Most importantly, it enables you to draw up a more efficient and cost-effective budget for the next month or year.

If your business is in Wellington, Count on Us is an accounting firm that can make all the difference for your company. They offer a variety of accounting services including financial planning, budgeting, business start-ups and computer accounting. Visit their website www.countonus.co.nz to learn more.

Contact our friendly team to make a booking!