Payroll changes due to Force Majeure (unforeseeable circumstances)
Refer to the table below and consider your situation. The article by Buddle Findlay employment lawyer Sherridan Cook is worthy of a read. The Health and Safety at Work Act 2015 requires businesses to mitigate health and safety risks and protect their workers from them, as far as is reasonably practicable. The Employment contract is also critical. […]
Continue readingNZ Payroll Legislative changes for the 2020 – 2021 year
What are the legislation changes? The ACC Earner Levy Income thresholdThe ACC Earner Levy Income threshold has increased from $128,470 to $130,911 making the maximum ACC Earner Levy $1,819.66. The ACC Earner Levy rate stays at $1.39 per $100 of earnings. The Student Loan Threshold is increasing from the first pay with a period ending date […]
Continue readingWhy computerise my accounting system?
The decision generally comes down to the business owner and their previous experience. Those who have had a computerised accounting system in the past can see the benefits. They wouldn’t contemplate the idea of a manual system and realise they need an efficient accounting system to be serious in business and to get a financial ‘reading’. New […]
Continue readingWorking as a Contract Bookkeeper
Many men and women offer bookkeeping services to businesses. They’re self-employed, running their own bookkeeping business and work from business to business using MYOB & other software. The work offers huge variety, lots of learning and with it, a high degree of personal satisfaction. For many it is the perfect job with plenty of flexibility. (If […]
Continue readingWhat to look for in a retail system
Point-of-sale (POS) software is more than a cash register. The software takes care of sales, stock, inventory, customer and supplier information and many of the other key issues you – as a retailer – have to deal with. As an integral part of your retail business, it’s imperative to ensure you choose the right point-of-sale software; […]
Continue readingTwo-time win for MYOB Partner of the Year 2013
Written & Published by MYOB NZ Ltd Auckland-based business consultant Lynley Averis of AccountAgility has been named the 2013 MYOB Partner of the Year. She’s the first Approved Partner in New Zealand and Australia to win the award twice. Lynley, who was Partner of the Year in 2010, was surprised, saying, “I was really delighted, as I wasn’t expecting […]
Continue readingShould you use MYOB or Xero?
A common question we’re regularly asked is “Which is better – MYOB or Xero?” The answer is it depends. We discuss their pros and cons…
Continue readingDo I need a Bookkeeper or an Accountant?
There are differences between bookkeepers and accountants and you could save money by knowing what those differences are. Apart from the obvious cost difference of each role, there are functions a bookkeeper generally does not perform. On the other hand there are jobs that an accountant will do but charge a lot more for – […]
Continue readingInventory account has negative balance
Question: The balance of my inventory account happens to be negative. Can you tell me why? Have I done anything wrong? I did error checking every time before closing the MYOB data file. Answer: Unfortunately, yes you have done something wrong or inherited a problem. The general ledger balance of the inventory account (s) can […]
Continue readingAccounting for Hire Purchase Agreements
Question: How do you enter transactions when you purchase a fixed asset using Hire Purchase (HP) from a finance company in MYOB AccountRight? Answer: Create Balance sheet accounts as follows: 1. Asset account called Fixed Asset, GST code S15 2. Liability account called eg: Hire Purchase – ABC Finance, GST code N-T 3. Liability account underneath the Hire Purchase […]
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