| Keep up-to-date with us and what's happening in the education sector |
|
|
- 2025 Annual Budget
- 2024 Annual Accounts Preparation
-
New Resource Coming Soon: AFS School Revenue Handbook
- Xero Tip of the Month: The Quick View Functionality Tool
- Xero: Changes to the Retirement Date of Classic Invoicing
- Welcome to the Team: Harpreet & Gurpreet
- Looking ahead
|
|
|
Just a reminder for all the schools that we prepare the budget templates for, a copy of the template can be found in Google Drive (2025 Accts - Budget). Please let us know if there are any other staff / BOT members that require access to this sheet (view only or editing access).
Details about the budget setting process can be found within our 2025 Budget Chalkboard special (link to the 2025 Budget Chalkboard) which provides further information and guidance about how to complete the budget templates. Please let us know when your budget has been approved by the Board so that we can import it into Xero ready for next year. |
|
|
2024 ANNUAL ACCOUNTS PREPARATION
|
|
|
Preparing for the year-end audit process is officially underway. By now, you may have received a checklist and/or questionnaires from your auditor.
We recommend working through the checklist as soon as possible. We know this is a particularly busy period with Term 4 drawing to a close, but please keep in mind that we’re available to assist if you need it. We have set up a folder in Google Drive called "Audit Information & Checklists"; and we would appreciate it if you could upload the auditor checklist, fraud risk assessment, and any additional questionnaires to this folder.
|
| |
|
In Google Drive we also have folders for other important information that is needed for the annual
accounts. If we prepare monthly management reports for your school, we have probably already asked for this information but if we only prepare the annual accounts, can you please take some time over the next few weeks to upload the following: - Copies of any new Lease Agreements that started in 2024. For Cyclone leases you can check the
lease numbers noted on the invoices. If the number is higher than 1015000 then it is likely that
it started this year or late last year and should be uploaded. - Copies of all 5YA documentation relating to projects that were started, completed or are
currently in progress. If a new project has started this year, please upload the project approval
email and project input page. If a project was completed, please upload the Occupancy Use
Certificate. If a project is still in progress, please upload the most recent financial summary from
the project manager showing the funding received and expenses incurred to date. If you don’t
have any financial summaries from the project manager, can you please request them. This will
ensure that all transactions are being recorded within the correct project. -
Investment notices for term deposits that will mature in 2025 (if you don’t have an investment notice the details may be able to be downloaded from internet banking).
- Audit Proposal or Engagement letter for 2024 – 2026 that includes the proposed audit fees.
- Copy of the current 10YPP
- Copy of the current cyclical maintenance (painting) plan
- List of all Board Members that held or hold office during 2024 (including those no longer on the Board)
-
Copy of the approved 2024 budget
To assist with your preparations, we have created a helpful checklist containing the above information, which is available for download. Please click the button below. |
Important Update for Moore Markhams Audited Schools:
If you are a school that is audited by Moore Markhams then we have added a new folder into the 2024 Accounts folder in Google Drive called "Interim Audit folder". Can you please ensure that all information requested in the Interim audit procedures email is uploaded to this folder? This will ensure the auditors can find it easily and will not have to chase you up for it.
|
NEW RESOURCE COMING SOON: AFS SCHOOL REVENUE HANDBOOK |
|
|
| Good news! We’re excited to announce that we’ve started working on a brand-new resource: the AFS Handbook for School Revenue! This comprehensive guide will be packed with expert tips, practical advice, and proven strategies to help you maximise your school’s financial potential. Whether you're looking to explore new revenue streams, investment opportunities, or effective fundraising ideas, this resource will provide actionable insights to support your goals. We can’t wait to share this invaluable resource with you and will let you know as soon as the guide is live on our website, under our resources section. |
|
|
XERO TIP OF THE MONTH: THE QUICK VIEW FUNCTIONALITY TOOL
|
Managing bills just got easier! With Xero’s new Quick View functionality, you no longer need to click through individual bills or juggle multiple tabs!
Now, you can view and approve bills directly from the Quick View screen. This streamlined approach is a more efficient way to stay on top of your school’s payables—ideal for schools with multiple bills to process each month. Save time, reduce hassle, and ensure timely approvals with this handy feature!
To access this feature, simply click the icon on the far left under the "View" tab next to the bill you want to check, and voilà — the transaction details will pop up right there!
To approve a bill, go to the "Awaiting Approval" tab, select the bill/s you want to approve by ticking the box on the left-hand side, then click the 'Approve' button. |
|
|
XERO: CHANGES TO THE RETIREMENT DATE OF CLASSIC INVOICING
|
As noted in our August Chalkboard, classic invoicing in Xero was initially set to retire this month. However, recognising the busy period ahead, Xero has decided to extend the availability of classic invoicing until 27 February 2025, ensuring a smoother transition for everyone.
With the introduction of the new invoicing system, there will be updated workflows to learn. To help you get up to speed, Xero’s new invoicing education hub is the ideal resource to guide you through the process.
To access this resource, click on the button below. |
|
|
WELCOME TO THE TEAM: HARPREET AND GURPREET |
|
|
Meet Harpreet, a local Wellingtonian with a diverse and extensive background in Information Technology, Accounting, and Business Advisory.
With over 14 years of experience in the chartered accounting industry along with previous roles as an IT Administrator and Systems Support Engineer, Harpreet brings a wealth of expertise to our team. His unique combination of IT and accounting skills makes him an invaluable asset.
As our new Xero & Cloud Systems Manager, Harpreet will focus on providing essential training and in-depth Xero support to our schools, as well as assisting those new to Xero in migrating from their existing accounting systems. Outside of work, Harpreet enjoys spending quality time with his family, watching sports and reading. |
|
Born and raised in India, Gurpreet moved to Wellington over two years ago to pursue new career opportunities. She holds a Master's degree in Mathematics, a Bachelor's in Economics, and additional qualifications in bookkeeping, accounting, and finance. What a smart cookie!
As our new Business Services Accountant, Gurpreet will be working with you to prepare annual accounts and monthly reports. She’s eager to put her skills and knowledge into practice and looks forward to helping us maintain excellent service standards for our clients. In her spare time, Gurpreet enjoys solving Sudoku puzzles and spending quality time with her husband.
|
|
|
271 Willis Street, Wellington 6011 |
|
|
|
