CENT$IBLE NEWS CONNECTING CLIENTS TO MAKE THE MOST OF THEIR CENTS
Makes Cents Newsletter October 2021
In 2 months Christmas will be over and we will be looking forward to a new year that hopefully gets us opened up to the world and operating as we “normally” would. I am sure that we all said that last year but not a lot has changed. The business environment has been challenging and supply issues have affected many clients. Hopefully when the world opens up these will be alleviated but it will take time and will not happen overnight.
Workflow for End of Year Financials We are still playing catch up with our end of year work but we are putting in place a few procedures to enable us to get through it, and have the backlog sorted by Christmas. We have a backlog of emails to get through with over 100 emails a day coming in that require action of some sort while at the same time trying to complete end of year work. We feel a bit stressed with this backlog but with a few new procedures in place, we will get through it. We try to return calls in the same day and reply to emails within 24-48 hours.
Inland Revenue Shutdown & Re-opening - GST Extension IRD are now up & running again with their upgraded system. According to IRD the upgrade has gone well but we have noted a few issues with alerts about dividend withholding returns being due from over 3 years ago and there are bound to be more that we come across, so bear with us while the teething problems are sorted as usual.
With them being closed for the past week for the system upgrade, there is an extension to Thursday 4th November 2021 to prepare and file your GST returns. Therefore, if you haven’t heard from us yet don’t panic as we still have plenty of time.
XERO & MYOB Software & Training We are trying to get all clients that need it, using some sort of software such as Xero or MYOB. Each of those software packages have different levels of and costs. There is also options including payroll with them. If you want to start using Xero or MYOB to do your invoicing and manage your business more efficiently then let us know and we can discuss which package is best for you, and which one you would be most comfortable with.
There is a $230.00 (incl GST) fee for the set-up which customises the software to your business and what you want to report on and see e.g. a range of sales and purchases codes. There is a $230.00 (incl GST) training fee, which is one on one and using your data to help you use the software correctly.
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