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Building Client Trust

How do you gain the trust of your current and prospective clients, as well as colleagues, subordinates and others with whom you do business or want to do business? One of the best ways to build trust is to always deliver on your promises and commitments. When you commit to follow up on an issue, take ownership and do just that. A common mistake and “trust-buster” is failing to regularly communicate your status and not keeping the involved parties adequately informed. You know how frustrating...

How to have a paperless system

Paper is everywhere. We hardly think about it, but businesses spend a lot of time and money moving paperwork around. Analysts have been predicting the arrival of the paperless office for more than two decades, yet more paper is produced every year. It doesn't have to be this way. In almost all areas of business, it's now possible to get rid of paper entirely. Digital documents are simpler, easier to store and send, more searchable and more versatile than paper.But many businesses have a long way...

Choosing the right accountant

Once you've decided it's time to hire an accountant, the next step is to choose which accountant to hire. It’s important to take the time to do this carefully, and there are a few things you’ll want to consider first. You'll need to think about issues such as the accountant's location, the division of workload and the type of accounting software you'll use. Consider how much you'll have to pay the accountant, and whether they can help to reduce your business taxes.It's in your company’s be...

Stewardship

Stewardship is a job of taking care or supervising something, such as an organization or property. We also believe that stewarding relationships, health and finances makes for a great balance in ones life and business. In this blog we focus on you and your finances! Here are some tips and tricks to help manage and look after your finances. Stewardship TIP 1Do you have a system in place to manage your finances? Systems we suggest to manage your finances are Set up a 3 bank account systemIf you le...

Future proof your small business with cloud technology

Consumers significantly reduced, or even stopped spending their money with small businesses altogether, since COVID-19 hit. But, they do expect to pick this up again once the situation improves. Although they are spending less overall, consumers have actually increased their spending through digital channels. Digital spending during COVID-19 has increased significantly across all product categories that were surveyed, including goods we don’t usually buy online, such as groceries.And consumers...

Changing your thinking to financial Success

Financial Success can be described as many things for different people. Financial success is all about balance, perspective, knowledge, values, and how you define what is most important to your happiness. For others, the idea of financial success means “less”; as in, less debt, less stress, less possessions, less complications. Whether you consider yourself a “more” or “less” person, it’s all perspective and the level of energy you are willing to invest in ...

Changing your thinking to financial Success - Confidence

CONFIDENCE can be described as a belief in oneself, that one can meet life's challenges and to succeed—and acting in a way that conveys that belief. Being CONFIDENT requires having a realistic sense of one’s capabilities and feeling secure in that knowledge. KREA believe that in order to change our thinking, mindset and heart we must be CONFIDENT within ourselves and in what we are doing to make a difference for others. Our brand line was “Cultivating financial CONFIDENCE.” As an ent...

Changing your thinking to financial Success - Listening

LISTENING is an active process of receiving and responding to a spoken message through a form of communication. KREA believe that in order to change our thinking, mindset and heart, we must be an effective LISTENER. LISTENING is at the top of all the competencies to successfully manage communication in a leadership role....

Changing your thinking to Financial Success - Adapting

ADAPTING is making something suitable for a new purpose. KREA believe that in order to change our thinking, mindset and heart, we must be ADAPTABLE. We may ask how one ADAPTS. After listening to Doctor Shimi Kang and her research we agree that using her study of the analogy P.O.D, will provide a strategy to assist with being adaptable. In this case we use a dolphin POD as an example, which is a group of dolphins. Dolphins are social creatures and they group in PODS (also call...

Cyber security basics?

We’ve all heard the cyber security buzzwords – phishing, botnets, malware. You might be thinking, are these real and am I really at risk? The truth is, cyber criminals don’t tend to target businesses or individuals in particular. They target weakness. Cyber attacks are automated, they constantly probe for weaknesses, which is why it’s important to get into good security habits.  In light of this month’s Cyber Smart Week in New Zealand and Scams Awareness Week in Australia, we’ve...

Chapter 2 - Putting small business ideas into action

Putting small business ideas into action How do you come up with a small business idea and how do you decide if it’s any good? Can you do your own research? When will you need to get professionals involved?  Here’s how to put your business idea into action. Where do good business ideas come from? Not many businesses start with a eureka moment. Some don’t even start with an idea at all. A hobbyist, for example, might just fall into business by doing what they love.Most other businesses...

Chapter 1 - The secret to starting a business

Starting a new business is a big job, but don’t let that put you off. Thousands of people do it every day and those collective experiences have given us guidelines.Starting a business is a process, not an event People talk about ‘taking the plunge’ into small business like it’s an adrenalin sport. And there will be some heart-stopping moments, like when you take a loan, sign a lease, or greenlight your first order of supplies.But starting a business isn’t one big decision. It’s hundr...

Budgeting and forecasting

Starting a business is a big financial decision. Before you get going, you’ll want to estimate how much money it will chew through, and how much it will make. Welcome to the world of budgeting and forecasting. What is a business budget? Budgets show how money will come and go from your business over a period of time (usually a year). That money might come in as loans or revenue from sales. It will go out on things like inventory, rent, advertising and wages for you and your staff. Most budgets...

How to manage accounts receivable & payables

Many businesses issue invoices, which are requests for payment at some future time. If that’s you, then you have accounts receivable and the money you’re owed needs to be closely managed. What is accounts receivable? Accounts receivable involves invoicing customers and tracking payment of those invoices. It often requires you to follow up on overdue payments. Why does it matter? You’re not a charity. You need to get paid. Fail to manage accounts receivable correctly and your business will ...

How to do bookkeeping data entry

Data entry is the foundation of everything else in bookkeeping and accounting. You need to enter the right numbers into the right accounts to truly understand how the business is doing. What is data entry? As the name implies, data entry is the process of recording financial transactions – money coming into and going out of the business. Why does it matter? If you’re not keeping a close eye on money in, money out, and things like debt, you’ll soon lose sight of how viable and profitable yo...

How to set up a chart of accounts

The chart of accounts sits just under the five main accounts in the general ledger. You can learn more about the main accounts in our chapter on double-entry bookkeeping....

Introduction to bookkeeping

Bookkeeping is the practice of recording and tracking the financial transactions of a business. Bookkeepers regularly summarise this activity into reports that show how the business is doing. They may also perform wider tasks such as invoicing, paying bills, preparing tax returns, monitoring key performance indicators, and providing strategic advice....

Wave Accounting App

Wave’s easy-to-use accounting software can connect your bank accounts, sync your expenses, balance your books, and get you ready for tax time. Start taking control of your finances today with the best accounting software for small businesses.Keep track of your business healthHave an eye on the big picture so you can make better business decisions. Our robust reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends.Make tax time a b...

Wave accounting Software - Free for small business

Accounting software that's free and powerful Wave’s easy-to-use accounting software can connect your bank accounts, sync your expenses, balance your books, and get you ready for tax time. Start taking control of your finances today with the best accounting software for small businesses.Create your free account Check out our guide to setting up a FREE Wave account...

Leah Donaldson, Story to financial freedom

Tena Koutou Katoa Financial freedom can mean many things to us individually. I speak from my journey today and in the hope to encourage others. As I watched the budget 2020 being delivered by Grant Robertson the Finance minister, to partake in my responsibility within my home, as I believe it all starts there. The decisions made yesterday are going to affect the future of my children and their children and the generations to come.  In my view, DEBT is not always the answer, but is always th...

Entering invoices and receipts side by side in Xero

Files in Xero allows you to email documents like your purchase bills, straight into the Xero files inbox. There you can create a transaction from the file and view it side by side as you’re entering the details....

Brightline property rule

Who does the Brightline apply to? This rule applies to all New Zealand Tax residents including who buy overseas residential properties. The bright-line property rule does not apply to properties bought before 1 October 2015. What is the Brightline property rule here in Aotearoa (New Zealand)? If you sell a residential property you have owned for less than 5 years you may have to pay income tax. This rule also applies to New Zealand tax residents who buy overseas residential properties...

Graham Lowe - 12. Discover the power of your team early

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. His final principle is on seeing the power within your team, and harnessing individual talent....

Graham Lowe - 11. Put up with the pain

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. His next principle is on learning to accept and cope with disappointment – move on and try again....

Graham Lowe - 10. Keep shifting the attack

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. The 10th principle stresses the importance of reevaluating your plan and adjusting your attack....