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This is the value of having a great business advisor on your side

Post covid our client was struggling with one product line in particular. This line was one of his initial lines he had when he first started in business so letting go was going to be a huge deal! We had an initial meeting to determine what was and what was not working in his business.From this we looked at systems and ran reports for periods to determine a plan regarding product/s we were looking at in particular.  We then met to discuss some outcomes and recommendations. He trusted us to ...

Let me tell you a story - Part two

Client B: " I need help understanding my business and evolve post covid " Me: "Lets discuss this more?" We can help, however lets meet to see what you really need.  The conversation continues, we arrange a time and book in a business development session which results in a further meeting involving all staff and my staff member also. Client B was sent away with some homework and I ran some 'reality' reports for him, came up with some ideas on how to drive the business forward and t...

Improve debtor days to boost your cashflow

It’s important to stay on top of your debt collection to free up cash. Establishing how long it takes you to get paid is the first step, but how can you measure this? Debtor days measures, on average, how long your customers take to pay you. While there are many complex formulas to accurately calculate this, a nice easy formula is: current debtors owing / annual sales * 365. For example, if you have annual sales of $450,000 and debtors owing of $80,000, your debtor days are 65 ($80,000 / $450,...

Let me tell you a story - Part one

Client A: " I think I need a Business Plan "Me: "Why do you think that and have you ever had one?" I can defiantly help, however lets chat. The conversation continues, we arrange a time and book in a planning session over 3 weeks. This results in a one page business plan, business goals and clarity for Client A. The turn over forecast from this was significant especially compared to last year and the goals audacious, however achievable.  So, I let him sit on it for a while with co...

Difference between profit & cash

1. Sales. Profit increases when you increase sales; cash increases when you collect the money from customers. To increase both your profit and cash from sales: Have a point of difference with your customers so they refer you onGenerate more leads and referralsConvert a higher number of quotes or proposalsIncrease transaction value 2. Invoicing. Profit increases when you send an invoice to a customer; cash increases when you collect the invoiced amount.  To increase both your profit and...

Reducing your lock up days to free up cash

It’s vital for businesses to free up as much cash as possible, particularly in these tough economic times. Your ‘lock up days’ is the number of days it takes to convert your debtors, stock and work in progress into cash. A high number of lock up days means your business needs to have more cash injected, either from you or the bank. You also have a higher risk of losing that cash, particularly if a lot of it is locked up in your debtors. Worse still, you’re likely to be paying tax on that...

How we have helped businesses by providing clarity and support.

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Our Complimentary Client Review service

It’s essential to work on your business, not just in it. Taking time out to discuss what’s happening in your business gives you clarity about your future.A 60-minute Complimentary Client Review is your opportunity to discuss:Your goals and how you plan to achieve themHow your business goals tie in with your personal and lifestyle goalsIssues and challenges you're facing in your businessHow we can work together to address theseWe’re not just advisors on your rear-facing bookkeeping - we wan...

Are you working on your Books nights and Weekends?

Easter has been and gone, yet another long weekend is coming up, how much time did you spend working on your business instead of spending it with your family, friends or on a favorite hobby?If you run a business and are struggling to keep on top of all the ins and outs of your finances, then hiring a bookkeeper can help. We can help you deal with all the day to day financial parts of your business which makes sure everything is in order for your accountant or IRD throughout the year. We will giv...

Difference between an Accountant and a Bookkeeper (us)

I called a prospective client today and this reply is all too common, "thanks but I already have an accountant" There are differences between bookkeepers and accountants, and there can often be confusion surrounding this, but any business requires both bookkeeping and accounting. Bookkeeping is the foundation of accounting and while there is often an overlap between what bookkeepers and accountants do, it’s not a matter of choosing one over the other. We work seamlessly together.Bookkeepers ar...

Covid-19 Protection Framework

Today the Government announced changes to the COVID-19 Protection Framework, or Traffic Light System. The current Omicron outbreak has peaked in Auckland, with the rest of the country to follow suit. However, modelling suggests there will always be several thousand positive cases in our community. Therefore, the changes to the Traffic Light System can be reviewed at times where there is future spikes and new variants. Businesses are encouraged to be prepared for possible changes as COVID-19 prog...

Collect Your debtors faster

Did you know that you still have to pay tax on your debtors, even if you haven’t yet collected them? This is because you pay tax on your sales figures, whether you’ve collected the cash or not.So, how do you collect your debtors faster? Agree your payment terms at the time of sale.Ensure your customer signs your Terms of Trade before you start the job.Include a guarantee in your payment terms.Invoice as quickly as you can, as soon as the work is completed.Ask for a deposit prior to starting ...

End of Financial Year

If this is your financial year end, now's a good time to begin reviewing your ledgers, and all of your accounts, chase up any invoices or receipts you should have kept for your records.Did you purchase any new assets this financial year? Make sure you have copies of the receipts/invoices.Review all of your outstanding invoices owed to you in your business, it's good business practice to get them paid before year end. Outsource this if needed.Home office expenses, if you have a home office, make ...

New financial support for businesses affected by Omicron

Businesses struggling with revenue during the Omicron outbreak can apply for new targeted funding, as announced by the government on Monday 21st February. Applications for the first payment open on February 28, with payments starting from March 1.There will be 3 payments in total, available on a fortnightly basis. The new scheme is based on the understanding that the Omicron outbreak will pass over about 6 weeks. This scheme may be extended. Each COVID Support Payment will be $4000 per business ...

Know your numbers - Your Balance Sheet

Knowing your numbers is vital to business success. The Balance Sheet is arguably the most important report, as it measures whether your business's worth is increasing or decreasing. It illustrates the overall financial health of your business; whether it is funded appropriately, if there’s enough cash to pay the bills, and what the owners would have left if it was wound up tomorrow. Profitable businesses can, and do, go broke if they have a weak Balance Sheet. Three common scenarios: 1. Growi...

Our Business Planning Service

Success is about planning; we want to help you achieve success. It’s essential to take time out from the day-to-day activities in your business to focus on your business; setting goals and establishing strategies to unlock your business potential. At the end of the session, you’ll have a one page Business Plan to act as a guide map to ensure you’re on course for success.Every business must have a Business Plan. During the four-hour Business Planning session, you’ll:Discuss and set both p...

Time to Review 2021 and Plan for 2022!

The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement. Last year, there were inescapable impacts on businesses, with some thriving, others failing, and others just getting by. So what kind of year was 2021 for your business? Take the time to review the year and acknowledge all that has happened, good, bad or indifferent. Examining the year with an o...

Five things all employers should consider as Christmas approaches

As the holiday season approaches, take some time to think about how you want to structure the operation of your business. A bit of planning will ensure you avoid paperwork mishaps and breaches of the Holidays Act 2003. Taking time out over the summer? You can have an “annual closedown” for your whole business or part of it but give employees at least 14 days’ notice in writing. You can ask staff to take their existing annual leave. If they don’t have leave left, they can take leave witho...

Our Management Reporting Service

Regularly reporting and monitoring your results leads to better decision making. The more you understand your business, the easier it is to make more money or reduce your hours. Get in touch for more info about our Management Reporting service.'What gets measured gets managed.' - Peter Drucker If you're not measuring your financial results and the key drivers of your business, you can't properly manage them or implement meaningful improvement strategies. Our Management Reporting service helps yo...

Bookkeeping Tips To Help You This Holiday Season

As Christmas fast approaches, businesses everywhere are likely to see a much quieter period as employees and clients alike take time off for the break. This also means that the revenue of small businesses is likely to reduce, and most likely will continue into January as people recover from New Year festivities returning to work slowly mid January. Plus, with staff and client celebrations, your business expenditure is likely to increase. This is the time when many businesses lose out from not ha...

Outsource locally or overseas - That is the question

I have written about this before, however I feel it is as important now than ever before. Have you ever asked where your work is being handled? Is it disclosed to you? If should be especially if you care about this in your business. Outsource extra work to save time and resources so you can concentrate on building your business! Everyone loves saving money, me included.  Yes, you can get a bargain sometimes, especially if you know where to look. The problem is when you start looki...

Our Meaning - Beyond Your Numbers

I have been asked from a few people lately about what our company name means, Beyond Your Numbers, what we stand for and what makes us so different. Then the comments we are getting back from clients, people we are meeting reflects what and who we are as people and as a company and what our meaning is. So I thought I would share some of these. There is a lot to us, so see the video link below to find out more....

How teamwork helps you grow your business

When you start out in business you do everything yourself, try to learn everything, are everything to everyone. The margins are tight and you want control. However you cannot sustain this for ever.It is not until your business grows that you realise that you do way too much and burnout starts to kick in, That is when you realise you now need help. As you take on more work that means you have less time to invest in billable tasks if you are the most expensive non billable person in your busi...

Financial Support for Businesses

There is a range of financial support that will be rolled out over the coming days to support businesses. We've collated the essential information on these support options in a factsheet for you. Click the button below to download a copy of the factsheet. The Wage SubsidyThis is available nationwide whenever anywhere in the country is put into Alert Level 3 or 4 for a period of at least 7 days. When Will It Be AvailableThe government has suggested that applications will be open vi...

Covid-19 Lockdown Financial Support Factsheet

Following our online bookkeepers meeting yesterday afternoon, please see attached for you to download a factsheet for you as well as some details below. Where possible please still pay your suppliers, remember the payments wheel still needs to go around. If we all stop payments, then no one will be able to pay suppliers and their staff. Staff need to be paid from the subsidy received if applied for to the minimum of 80% - best endeavours or to 100% if and where possible – remember to get an a...