Why is it so important to understand how to use Xero?

At SMYD we are massive Xero fans. In fact, it’s all we use. But we don’t want to be the only Xero experts around here – we really want YOU to understand how to use it, and use it well.

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What is proactive provisional tax?

Provisional Tax is something that we take seriously at SMYD Chartered Accountants – and we like to be proactive about it! We know how much it sucks to get an extra tax bill at the end of the year, so instead we review and adjust your provisional tax amounts as we go.

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Do I still need to keep receipts?

If it’s under $50 you don’t need to keep it. We can take where you have spent it from your bank statement as verification. If it’s over $50, then technically you do.

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The power of a referral

What is the source of your new clients or sales? We reckon 99% of SMYD’s business comes from referrals. So here is a question for you – are you putting yourself in the best possible position for people to refer you?

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How much is your business worth?

Have you set your financials up correctly to best to reflect the value of your business? All that hard work, effort, sacrifice, and pain that goes into these businesses. Surely, we want to be able to see what our potential net worth is because of that hard work?

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How can an accountant help you make money?

Despite the typical reputation, we accountants are more than just boring, snoring tax agents – our job does have a sexy side to it! We look at how we can use our skills and experience to work with you guys on a much closer level to help you make more money.

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Can I claim childcare costs as a business expense in NZ?

A BIG question we get asked ALL the time is “Can I claim my childcare costs?”. Jason talks through why, unfortunately, it’s a NO from the IRD. Unfortunately, childcare costs are not deductible as a business expense as they’re not directly related to your income earning. A business expense needs to be directly attributed to the income you are deriving

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What is the Number 1 Xero Report to look at as a business owner?

There is one report in Xero that as a business owner you should be looking at EVERY.SINGLE.MONTH! Do you know what it is? And do you know what it tells you? Our clients often say to us – I’ve made all this profit but why have I got no cash?​They look at their profit and loss statement and see they’ve

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How can my business pay for my car?

The first thing that needs to happen is the business needs to own the vehicle. If you own the vehicle already, you need to transfer the ownership to the company or if you’re buying a new vehicle, the company needs to buy the vehicle. This means the company can pay for: Fuel WOF Registration Maintenance Claim depreciation on the vehicle.

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