http://www.trioaccounting.co.nz/blog/ The latest Blog feeds from www.trioaccounting.co.nz en-us Thu, 21 Jan 2021 12:48:24 +1300 Rocketspark http://www.trioaccounting.co.nz/blog/post/60345/recharge-reflect-reset--business-planning-for-a-great-year-ahead/ Feeling exhausted, spread thin, strung out, and ready for some time-out? We hear you! Running a business can be hard, and this year has been one for the history books. Everyone is running on empty, which is understandable, but it’s not great for you or your business in the long run. Even when things are tough, it’s so vital to celebrate the wins and get some rest. And before you say, “I just don’t have the time,” it’s essential to make the time for celebration and rest in your busine... Thu, 03 Dec 2020 14:41:30 +1300 http://www.trioaccounting.co.nz/blog/#post60345 http://www.trioaccounting.co.nz/blog/post/57301/why-your-drawings-are-not-what-youve-earned-this-year/ “I pay tax on my drawings, right?” “I don’t have to pay any tax because I’ve only taken drawings” “Isn’t drawings the same as a salary?” Drawings is one of the most confusing areas for business owners and it’s not surprising. Google “What are drawings” and you’ll find a huge range of answers using a bunch of technical words. It’s almost guaranteed to give you a migraine. If you not entirely sure about drawings or other accountanty terms like shareholder current accoun... Thu, 10 Sep 2020 18:10:21 +1200 http://www.trioaccounting.co.nz/blog/#post57301 http://www.trioaccounting.co.nz/blog/post/55207/numbers-dont-have-to-be-scary/ Many people find money & finances, particularly business finance a mystical and scary topic. It’s not surprising as our relationship with both numbers and money comes with a lot of baggage. But here’s the thing… numbers just like words are simply a way of communicating and conveying information. Numbers on letterboxes tell us if we’re at the right house. Numbers on road-signs tell us how fast we should take a corner. And numbers on a profit and loss report tell us whether all the ha... Thu, 16 Jul 2020 17:02:48 +1200 http://www.trioaccounting.co.nz/blog/#post55207 http://www.trioaccounting.co.nz/blog/post/54546/What-to-do-with-bad-debts/ If you’ve been chasing unpaid invoices and its looking highly unlikely that you will ever receive payment then perhaps it’s time to consider whether you should write it off as a bad debt. Under normal circumstances, you have to physically record the invoice as a bad debt in Xero before the end of the financial year. However, due to Covid, Inland Revenue have extended the deadline for writing off bad debts until 30 June 2020.... Wed, 24 Jun 2020 19:17:58 +1200 http://www.trioaccounting.co.nz/blog/#post54546 http://www.trioaccounting.co.nz/blog/post/54310/How-to-pay-yourself-as-a-business-owner/ As a business owner, you’re usually the last to get paid. Simon Sinek's book, Leaders Eat Last is a fantastic book on leadership but paying yourself the “left-overs” isn’t ideal especially given the blood, sweat and tears you pour into your business. So how much should you pay yourself? And what’s the best way to do it?... Wed, 17 Jun 2020 19:29:47 +1200 http://www.trioaccounting.co.nz/blog/#post54310 http://www.trioaccounting.co.nz/blog/post/53897/Managing-stress-and-worry-as-a-business-owner/ For most business owners and entrepreneurs, worry is a fact of life. You’ve been there with the 3am wake-up call when you’re sweating over cashflow or how you’re going to handle a poorly performing team member. Worry and stress normally ebbs and flows. But lately it seems like worry moved in over lockdown, has taken up permanent residence on the couch and is showing no signs of moving out.  While you can’t always control external forces like a global pandemic or a recession, you can... Wed, 10 Jun 2020 13:43:24 +1200 http://www.trioaccounting.co.nz/blog/#post53897 http://www.trioaccounting.co.nz/blog/post/53498/How-much-will-your-accounting-fees-cost/ One of the biggest questions in your mind when you start talking to an accountant is likely to be how much does it cost to do my accounts? And it’s a perfectly reasonable question. Your time is short, your money is precious and you don’t want to waste either talking with a prospective accountant only to find that you’re miles apart when it comes to price. Unfortunately there is no simple answer. Which I know is incredibly unhelpful. However, the reality is that every business is different ... Tue, 02 Jun 2020 10:58:26 +1200 http://www.trioaccounting.co.nz/blog/#post53498 http://www.trioaccounting.co.nz/blog/post/52617/Considering-the-Small-Business-Cashflow-Loan/ The Government’s Small Business Cashflow Loan Scheme (SBCS) is designed to help small businesses with funding to pay their operating expenses. With up to $100,000 of funding per business and much lower interest rates than you’d get from the bank on the surface it seems like a no-brainer for businesses to apply. While things seem quite straightforward on the surface, before you rush off to lodge an application it is essential that you take the time to understand the eligibility criteria, the ... Wed, 13 May 2020 11:34:47 +1200 http://www.trioaccounting.co.nz/blog/#post52617 http://www.trioaccounting.co.nz/blog/post/52569/8-Alternatives-to-Discounting/ If you're feeling the pressure to offer discounts, you're not alone. Maybe your business desperately needs the cash to survive and you feel like there are no other options. Maybe you feel like it’s expected because ‘everyone’ around you has a sale on. Or maybe you are worried that if you don’t offer a discount you’ll be perceived as heartless or money-grabbing. "What kind of discount should I offer" is one of the most frequent questions I'm being asked at the moment and there isn't a r... Tue, 12 May 2020 16:29:00 +1200 http://www.trioaccounting.co.nz/blog/#post52569 http://www.trioaccounting.co.nz/blog/post/49848/3-critical-factors-in-managing-your-team-remotely/ Managing a remote team is quite different to managing a team in an office, especially if your team is not used to working remotely. With so many small businesses planning on enabling remote working in response to Covid 19, I thought I’d share some of my experiences leading a team where remote working and flexi hours are part of the company’s DNA.... Wed, 18 Mar 2020 17:57:10 +1300 http://www.trioaccounting.co.nz/blog/#post49848