Trust Talk Issue 8 October 2016

As a member of NZ CA (an association of independent chartered accountants), we receive a quarterly newsletter from them all about Trusts called TrustTALK.

The latest issue talks about asset and estate planning, and what you can do when a Trustee has dementia.

Click the link here to receive your copy NZCA Issue 8 BW Miller Dean.

If you are interested in past issues you can find them on the NZ CA Limited website here.



How Planning and Budgets Make Business Better

When I come back to work after the summer break, I spend the first week or two planning for the next financial year. I like to get a head start on it when I’ve been out of the nitty gritty of day-to-day stuff and when we’re not so busy with clients’ work.

It’s important to plan what you want the business to achieve, then look at what it has done in the past and work out how you’re going to bridge that gap.

The financial aspect of a plan is a budget. And because cash is king, the even more useful version of this is a cash-flow forecast.

It’s not unusual for a client to ask us to prepare one for them because the bank has asked for one. It then gets handed to the bank or put in a drawer and promptly forgotten. That’s about as useful to the business owner as an annual set of financial statements we prepare long after the year end to calculate the tax payments!

But a budget and cash-flow forecast can be very useful to help manage the business. Read More »



Why Billing is the New Black

Here’s a fun factoid for you… billing your customers for the work you’ve done gets you paid!  AND, when you get paid, you can pay your bills!  And eat!

One of the most important things about running an SME is to get your invoices out- as quickly after the job is done as possible. Simply put, people won’t pay you if you don’t bill them. Invoice fast and often.

I know, I’m hearing you say that it’s the last thing you feel like doing after spending all your time on the job; you’re just too busy and it becomes a chore for the end of the month or a wet day.  But that sort of business practice is what gets you a gigantic debtors list and believe me, chasing that up is a far worse chore! Read More »