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The Accounting For Schools team would like to take this opportunity to thank you and your school for your assistance and support throughout this year's annual accounts and audit process.
Your promptness in providing the requested documentation and information, timely responses to queries, and proactive communication have been instrumental in ensuring a smooth and efficient process.
As we prepare for next year, we welcome any suggestions you may have for supporting content that would be helpful prior to the Annual Accounts and Audit process. Please share your feedback by emailing us at: marketing@afsl.nz. |
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Receiving 5YA Information from Schools:
One of the outcomes of the 2023 audit was the lack of documentation provided for some of the 5YA projects that are in progress. We would like to improve this for the next audit and so we will be in touch with the school principal over the coming weeks to obtain all the information that we need.
Changes to Banking Staffing Reimbursement:
As announced in August last year, to meet the additional costs of the teachers’ pay settlements the Ministry will no longer reimburse underuse of ‘banked staffing’ for all schools. Only kaupapa Māori and Māori medium education will be reimbursed. This applies from the current 2024 staffing year.
It is therefore important that you utilise your full entitlement this year. If you have any questions about this please don't hesitate to contact our team at 04 909 7729 or you can send us an email at admin@afsl.nz.
TELA Leases:
From 1 July, the subsidised Cyclone leases (formerly TELA) are going to be for four years. If you have started any new leases during 2024 can you please make sure a copy of the lease agreement is uploaded to Google Drive (2024 Accts - Lease Agreements folder).
School Audit Contracts:
If your school has a change of auditor for the next contract round (2024 - 2026), please ensure that you notify your bank of this change.
You may need to complete a form, which could require signatures from two account signatories. Please also be aware that a $40 fee may be associated with this process. Following these steps will ensure that your school's ACR report is sent to the correct auditor each January and that a copy is emailed to the school.
Additionally, please upload a copy of the new Auditor Proposal to Google Drive.
ACC 2024 Levy Invoice now ready in EdPay:
A reminder that all schools are required to pay an ACC employer levy each year. This levy ensures coverage for work-related injuries for school employees whose salaries are funded through operational grants. The levy amount is calculated based on your school’s bulk operational grant funding, and the current rate is $0.26 per $100 of leviable earnings. Your school’s 2024 ACC levy invoice is now available for download. Please access it through EdPay by navigating to:EdPay > Reports tab > ACC EoY report > 2024 invoice
Please note that Education Payroll will debit the levy amount from your school’s account on Tuesday, 10 September 2024. If you have any questions or need further assistance, feel free to reach out. |
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HEADS UP: 2025 ANNUAL BUDGET
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It's time to start thinking about your 2025 annual budget!
As in previous years, we will be preparing the budget templates once the Ministry has provided the indicative funding and entitlement notices. Following this, a special Budget Chalkboard will be sent, which will provide further information about how to complete it, including the additional wages calculations.
If you are not one of the schools we generally assist around the budget, but would like us to prepare a Budget Template report for your School, please contact Allison Henderson via admin@afsl.nz. |
XERO: CHANGES TO THE RETIREMENT OF CLASSIC INVOICING
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On 2 September 2024 at 9 am NZT, all Xero invoicing users will automatically default to the new invoicing version each time they log into Xero. You can still switch between the classic and new system until the extended deadline date of 20 November 2024. However, we strongly recommend transitioning to the new system as soon as possible to become familiar with its features and new interface.
If you are not already using new invoicing, now is the perfect time to make the switch. By familiarising yourself with the new version now, you'll have plenty of time to adjust and get comfortable with the updated interface. |
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How do I make the switch:
You can make the switch to the new version of invoicing by clicking on the 'switch to new version', button in classic invoicing. You can also switch back to classic invoicing until it's retired, giving you the flexibility to choose which version works best for you. Xero also offers helpful resources and support to guide you through the transition process. Resource: Your Guide to New Invoicing
Xero has launched 'Your Guide to new invoicing', a course designed to help you familiarise yourself with the new version of invoicing and learn about the latest tips and tricks to get the most out of your experience. If you’re yet to give new invoicing a go or want to see what common tasks and new functionality look like under new invoicing, take a look. The course covers everything from creating a new invoice to adding discounts, adding items, adding a payment, and more. To access this resource, click on the button below.
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We're here to help:
If you need any assistance with the transition, please don't hesitate to contact our team on 04 909 7729. We're here to help. |
REMINDER: XERO PRICING INCREASE & NEW BUSINESS PLANS - 12 SEPTEMBER 2024
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A reminder that on 12 September 2024, Xero is launching three new streamlined business plans (Xero Ignite, Xero Grow and Xero Comprehensive) and enhancing the Ultimate plan in New Zealand.
The three new plans will replace the Starter, Standard and Premium plans, which will no longer be sold from 12 September 2024. Existing add-ons will no longer be available for separate purchase from this date. |
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As mentioned in our previous chalkboard, with the introduction of the new plans, there will also be some changes to pricing. For the Standard Xero plan, the new monthly fee will be as follows: -
Standard plans (changing to Xero Grow) increase by $4 a month to $75+GST a month
However, as you know, we pass on our Xero Platinum Partner discount to all of our clients, so the new price of your Xero subscription, through Accounting For Schools, from Thursday, 12 September 2024, will be as follows: -
Standard plans (changing to Xero Grow) increase from $52 to $55+GST per month
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Phased move to new plans:
Starting September 12, 2024, Xero will begin moving subscribers to the new plans in phases, depending on their current plan and any add-ons. By March 2025, Xero aims to migrate all customers over to these updated plans.
Rest assured, Xero will contact you before making any adjustments to your current plan, ensuring that you receive a minimum of 60 days’ notice before your plan is moved.
You don't have to do anything right now. Xero will send out more information and updates in the coming months to keep you informed and prepared for the changes.
For more information on the new plans and pricing increase, click the buttons below. |
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XERO TIP OF THE MONTH: CUSTOMISE YOUR EDIT INVOICE SCREEN
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Did you know that the new version of Xero invoicing allows you to select or deselect which fields appear on your invoicing screen according to your needs?
To access this new feature, open the invoice you want to customise and follow these steps: - Click the Show/Hide Fields button on the left hand side on your invoice
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Select or deselect the fields you want to display. You can choose from general invoice fields, such as those displayed at the top of the invoice, or the fields used in the table to input information.
- Once you have made your selections, click Save. Your new settings will then be applied to all future sales invoices you create.
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UPCOMING NZPF CONFERENCE CHRISTCHURCH 2024 - COME AND SEE US!
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Accounting For Schools is delighted to announce that we will be exhibiting at the 2024 NZPF Conference in Christchurch from September 18-20! If you’re attending, be sure to swing by stand #10 to meet with Ben Duflou (Director), and Allison Henderson (Associate Director) who are eager to connect and chat with you. As always, we’ll be packing our stand with a variety of sought-after goodies, including our AFS reusable toggle bags and fan-favourite mint chocolates to sweeten your day! But that’s not all! Be among the first to grab our freshly printed brochure on Budgeting. |
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We look forward to catching up and sharing our latest resources with you at this fantastic event. See you soon! |
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271 Willis Street, Wellington 6011 |
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