Accounting HQ

10/03/2025

Exciting News for Accounting HQ Clients!

We’re pleased to share that from 1 April 2025, Accounting HQ will join forces with Blackslate Chartered Accountants Limited. This change ensures a strong future for our firm while maintaining the same trusted service you rely on.

Blackslate is a Rotorua-based accounting firm that recently moved across the road from us on Hinemoa Street. It is led by Craig Kilmister, Lyndell Christoffersen and Ben Kilkenny, who have over 60 years of combined experience in accounting and tax services. The firm has its roots in Peter Spurdle & Associates, Beker Findlay Allen (BFA) and Absolute CA. Blackslate shares our values and culture, making this a great fit. To help with a smooth transition, Ben Kilkenny has been working with us since May.

Our team, including Sam Bufton as a consultant, will continue working with you. We’ll be in touch soon with more details, and if you have any questions, please don’t hesitate to reach out.

28/01/2025

Keen to integrate AI into your business? 🧠🤖 Here are some top tips:

• Start small with pilot projects before scaling.
• Keep your data clean and accurate for the best results.
• Train your team to make the most of AI tools.
• Stay ethical, focusing on transparency and privacy.
• Use AI to automate repetitive tasks and gain customer insights.

With the right approach, AI can boost efficiency, improve decision-making, and create better customer experiences! 🚀

You can read the full Trial Balance article on our website: https://www.accountinghq.co.nz/client-resources/newsletters/

Feel free to contact us if you’d like to learn more or discuss how AI could work for your business.

20/12/2024

All the best to a wonderful friend and long time employee congratulations on your retirement Christine Wall

27/11/2024

When your business needs new plant or equipment, deciding whether to buy or lease can be challenging. Here are some key points to consider:

Advantages of Buying
Buying provides ownership and certainty, with a higher upfront cost but a lower total cost over time. You can use the equipment without restrictions and modify or sell it as needed. The full payment upfront means no ongoing costs, and you may benefit from tax depreciation. Buying is especially beneficial for long-lasting, valuable equipment.

Advantages of Leasing
Leasing offers flexibility, allowing you to spread the cost over time with regular payments. You can return or upgrade leased items if they don’t meet your needs. Leasing is suitable for equipment that quickly becomes obsolete or when you're uncertain about a purchase. While generally more expensive in the long term, it frees up funds for other business investments.

Making the Decision
Investing in new equipment can be challenging, but we can help. We’ll assess the costs and potential benefits based on your cash flow, borrowing costs, and sales projections to guide your decision.

Contact us via email or phone – we’re here to assist you! 😊🚗
https://www.accountinghq.co.nz/
Phone: +64 7 348 7066
8.00am to 5.00pm Monday to Friday
1247 Ranolf Street PO Box 1346 Rotorua 3010

21/11/2024

Chasing invoice payments can be tough in a down economy, but maintaining cash flow is crucial for covering expenses. Here are some essential tips for requesting payment:

1. Communication:
Personalise your outreach. Tailor your message to each customer’s situation to show you value them and understand their challenges.
2. Be Proactive:
Start communication early to stay on top of cash flow and identify potential late payments.
3. Offer Flexible Payment Options:
If customers can’t pay in full, allow multiple payments or extended terms. Setting up a credit card facility can also help. Consider offering discounts for early payments.
4. Track Outstanding Payments: Monitor how much customers owe to manage credit risk. Be cautious of continually allowing extensions, as this can strain cash flow.
Effective communication is key to keeping your cash flow steady.

Get in touch. We can help with all your accountancy needs. 🙌
https://www.accountinghq.co.nz/
Phone: +64 7 348 7066
8.00am to 5.00pm, Monday to Friday
1247 Ranolf Street PO Box 1346 Rotorua 3010

30/10/2024

Starting a business is a brave move and presents challenges, particularly in managing finances effectively. Even with modern cloud accounting tools, mistakes can happen. Here are the five most common accountancy mistakes to avoid:

1. Mixing Personal and Business Finances:
Not separating transactions complicates tracking income and expenses, leading to potential tax issues.
Solution: Open distinct personal and business bank accounts.

2. Skipping Record-Keeping:
Failing to keep receipts and logs can hinder tax filing and budgeting.
Solution: Maintain digital copies of receipts and update bookkeeping regularly.

3. Miscategorising Expenses:
Grouping all expenses under ‘miscellaneous’ complicates financial analysis.
Solution: Categorize expenses accurately (e.g., rent, marketing).

4. Winging It During Tax Season:
Poor preparation can lead to costly tax mistakes.
Solution: Save for taxes throughout the year and consider hiring a tax professional for guidance.

5. Avoiding Professional Advice:
Managing finances alone can be overwhelming.
Solution: Outsource accounting tasks to a professional firm for better financial management.

Outsource your accounting tasks to free up time for your business, streamline bookkeeping, and ensure precise tax handling. Contact us to learn more about how we can assist you.

Phone: 07 348 7066
https://www.accountinghq.co.nz/
8.00am to 5.00pm Monday to Friday
1247 Ranolf Street Rotorua 3010

15/10/2024

Our chartered accountancy skills are wide and varied, but the key ingredient is listening to our clients. Whether it be taxation, business planning, or accounting software, we regard it as our responsibility to be innovative and proactive in our advice and always try to add value to our clients. 😊
With a strong client focus, we believe we are ideally placed to respond and help with issues such as business planning and business valuations - either directly or in association with other business professionals.

Call us for a chat about your accountancy needs.
Phone: 07 348 7066
https://www.accountinghq.co.nz/
8.00am to 5.00pm Monday to Friday
1247 Ranolf Street Rotorua 3010

Accounting HQ Limited Chartered Accountants (CA) is the new name from the merger of the Iles Casey P

30/09/2024

Ask our team about Trustee Services.
We offer comprehensive Trustee services for new and established trusts, serving as corporate trustees to protect family assets.
A professional trustee collaborates with other trustees to safeguard the beneficiaries and trust assets and manage the trust.
A trust is a legal agreement between you and a trusted individual or organisation to hold assets like cash, real estate, and other investments for the benefit of someone else.
Call us for an appointment. 😊
Phone: 07 348 7066
https://www.accountinghq.co.nz/
8.00am to 5.00pm Monday to Friday
1247 Ranolf Street Rotorua 3010

Accounting HQ Limited - -

10/09/2024

When selling a residential property, any profits may be subject to tax if the sale occurs within a designated timeframe known as the bright-line period, unless an exclusion or rollover relief is applicable.

This rule also extends to New Zealand tax residents who engage in buying and selling residential properties abroad.

The bright-line period is defined by its start and end dates. For properties sold on or after July 1, 2024, the bright-line test will determine if the end date falls within two years of the start date. Different timeframes will apply for properties sold prior to July 1, 2024.

For a typical property purchase, the bright-line period begins on the date the title is transferred to you, which is usually the settlement date. The period concludes when you sign a binding sale and purchase agreement to sell the property. Different regulations apply for other types of acquisitions (like off-the-plan purchases) and various sale or disposal scenarios (such as gifting property).

If the property is sold outside of the bright-line period, the bright-line test is not applicable. Nonetheless, other property sale regulations will still apply if you intend to sell the property, have a history of buying and selling, or if someone associated with you is engaged in property dealing, developing, or building and the property was acquired for business purposes.

Typically, the bright-line test does not apply to the sale of a property that has served as your main residence, provided your use meets specific criteria. Business premises and farmland are also exempt from this test. Full or partial rollover relief may be available for certain ownership transfers.

Furthermore, the bright-line test does not apply if you are the executor or administrator of a deceased estate or if you have inherited the property.

Have questions? Get in touch with the team...😊
https://www.accountinghq.co.nz/
Phone: +64 7 348 7066
8.00am to 5.00pm Monday to Friday
1247 Ranolf Street PO Box 1346 Rotorua 3010

27/08/2024

By maintaining a positive credit history, you could potentially save a significant amount on interest rates when applying for a loan. This means more money in your pocket over time, as your credit history is a key factor in determining your credit scores.

However, the financial impact of credit history extends beyond loan applications. According to the Consumer Financial Protection Bureau (CFPB), your credit history can influence a range of situations:

Insurance companies may use the information when setting your insurance rates.
Landlords may review your credit when you apply for an apartment lease.
Utility companies may examine your credit history when you set up an account to determine whether a security deposit is required.
Some employers might check your credit reports before they make a hiring decision.
Good credit history vs. bad credit history
When companies review your credit history, they want to find out how you’ve managed debt in the past. Making on-time payments and keeping your debt balances low are generally seen as responsible credit behaviours.

These habits could help build and maintain good credit scores and a good credit history. On the other hand, missed payments or bankruptcies may lead to a less-than-perfect credit history. If your credit history currently has some blemishes, this doesn’t necessarily mean that you will have a bad credit history forever.
Negative credit factors, such as missed payments, may disappear from your credit history up to seven years from the date of a missed payment.

Using credit responsibly and wisely can help you build a positive credit history.

For all your accounting requirements, contact the team at Accounting HQ, we're here to help.

https://www.accountinghq.co.nz/
Phone: +64 7 348 7066
8.00am to 5.00pm Monday to Friday
1247 Ranolf Street PO Box 1346 Rotorua 3010

Accounting HQ Limited Chartered Accountants (CA) is the new name from the merger of the Iles Casey P