We believe doing your own GST returns is an opportunity to have eyes on, and take control of your business. Please don’t be scared of preparing GST returns or thinking it’s beyond your capabilities.
Here’s why….
When you are reconciling your own Xero ledger, Xero is automatically building your GST return. When it’s GST time, we click a report and run that GST return. Xero prepopulates and creates the return. You then go through and check expenses, and make sure there are no personal expenses in there, check that things have been categorised correctly. Then once you’re happy it’s all correct, you click File with the IRD.
90% of you can do that yourself, and we actively encourage you to start off doing it yourselves. You get a good understanding of your business and what’s going on.
If you need some training around GST returns get in touch with us, and we’ll upskill you, so that you can do your own GST returns.
MORE RESOURCES
How do I manage drawings?
The best way to effectively manage drawings is to treat it like a salary. Here’s
Why doing your own GST Returns is an opportunity to take control of your business
We believe doing your own GST returns is an opportunity to have eyes on, and
Why you should never do cash jobs
Cashies – the temptation is there to do a little bit extra for a little
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
What is proactive provisional tax?
Provisional Tax is something that we take seriously at SMYD Chartered Accountants – and we
Do I still need to keep receipts?
If it’s under $50 you don’t need to keep it. We can take where you
The power of a referral
What is the source of your new clients or sales? We reckon 99% of SMYD’s
How much is your business worth?
Have you set your financials up correctly to best to reflect the value of your
How can an accountant help you make money?
Despite the typical reputation, we accountants are more than just boring, snoring tax agents –
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