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Modernise your accounting from Excel

If you’re using Excel for accounting, I’d like to share how accounting software makes things much easier. Excel is great for some tasks, but as you start to grow, it’s unlikely your spreadsheets will grow with you. And research by the University of Hawaii has found that 88 percent of spreadsheets contain errors – so there’s good reason to look at finding a better way. Here are just a few reasons why I recommend accounting software: Your company’s data is kept in one central place tha...

Want to take a holiday from your business?

Whether you’re heading into a holiday period, or just planning to take a break (and congratulations, because a healthy business means work-life balance), it’s important to keep your cashflow under control. This means pre-planning and being proactive. When you’re not in the office, there are still overheads and salaries that need to be sorted. If taking time off means that less cash will be coming in, it’s essential to plan for this period to make sure that these costs can be comfortably ...

Donations to charitable organisations

Donating to charity not only supports the vital work of an organisation or group, but it can have positive side-effects when it comes to claiming tax deductions. To be eligible for a tax credit, you need to make sure that your contributions meet certain conditions, and that you’re making a legitimate claim.In general, when a charity is an approved donee organisation or registered as a ‘deductible gift recipient’ (DGR), and you donate over a certain amount, you can claim a tax deduction. Yo...

2018 Law changes summary

2018 has been the year of law reforms.  There have been so many changes and reforms it's been a challenge too keep up. And with many more changes still to roll out in April 2019, it's so important for bookkeepers, accountants, business owners, employers, landlords and individuals to make sure they are informed. Business.govt.nz have released a handy law changes round up for all law reforms in 2018. From payday filing to the paid parental leave extension, here’s a summary of what’s new a...

Christmas break

Merry Christmas!  We wish you are very merry Christmas and well deserved end of year break spent with friends and family, from the team at My Two Cents. Thank you all for your continued support and choosing to work with us. We look forward to being your trusted advisors and partnering wiith you in the year ahead. Our office will be closed from 24th  December 2018. But we are back on deck on 7th  January 2019. Happy Holidays...

New Xero navigation

New Xero navigation helps you find your way around fasterYou may have noticed a few changes to the navigation in Xero. Launched on 27 November 2018, these changes bring a more logical framework to the menus and are more in line with the way businesses use Xero. One of the most obvious updates is the split between business tools and accounting tools. The accounting tools include financial reports and compliance functions that are more commonly used by accountants and bookkeepers. The bu...

Get paid online, straight into Xero

The easier you make it for customers to pay you, the faster you'll receive payment – that’s good news for both your cashflow position and your aged debt levels!There’s a wide range of online payment services that link directly with your Xero system – making it quick and simple for customers to settle their bills. And many of these payment methods can be linked straight into Xero to automatically update and reconcile your accounts.A more connected kind of paymentWith Xero at the heart of ...