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- Welcome back to Term 1, 2026!
2025 Annual Accounts -
Important Notices
- Xero Tip of the Month: Save Time With Xero’s Invoice Due Date Shortcuts
- Preparing to Make the Most of Your Audit Feedback
- Looking ahead
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Welcome back! We hope your summer break gave you all a chance to relax, recharge, and enjoy some well-deserved downtime.
We know the start of the year can be a busy time for schools. With the audit process now underway and the many tasks that come with a new academic year, there’s often a lot to manage, and having the right support can make all the difference.
The Accounting For Schools team is here to help. Whether it’s a quick question or more in-depth guidance, we can answer any accounting or finance queries and guide you through this demanding period, helping you feel confident and well-prepared.
You can contact us on our usual number, 04 909 7729 / 0800 ASK AFS (0800 275 237), or by email at admin@afsl.nz. We look forward to working with you again this year and supporting your school’s financial management throughout 2026. | |
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As mentioned in our November Chalkboard, a folder called "Audit Information & Checklists" has been created in Google Drive. We would appreciate it if you could please upload the auditor checklist, fraud risk assessment, and any additional questionnaires to this folder.
Please refer to our 2025 Annual Accounts Preparation Checklist to ensure all of the required information is uploaded to Google Drive. This will allow us to proceed with preparing the 2025 annual accounts.
You can download the checklist by clicking the button below. |
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We expect the 2025 payroll reports to be available in EdPay in early February. Once they are, could you please upload the following: -
School Annual Accrual (SAAR) report
- Leave liability reports (TTO, 52 week and LSL leave)
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Annualisations:
If you haven’t already done so, please ensure that your annualisation forms are signed and submitted to Edpay by the deadline of January 29, 2026. Both the Principal and the staff member are required to sign the forms, so it is crucial to complete this process on time. Timely submission is essential.
2026 Annual Budget
If you have not done so already, can you please confirm via email to admin@afsl.nz when your budget has been approved by the Board so we can import it into Xero and prepare for the new year. 2026 Quarter 1 Operational Funding:
As previously mentioned in our December Chalkboard, the Q1 2026 operational funding notices are now available in Pourato. By now, you should have received your first instalment, which was due on January 5, 2026.
If you are one of our monthly schools, you can access our Pourato & Secure Data Portal Checklist by clicking the button below. This checklist provides clear, step-by-step instructions on how to download the data we need from Pourato and the Secure Data Portal, as well as where to upload it within Google Drive. |
Incorporated Societies Re-registration Deadline Approaching If your school's fundraising body or parent association is an incorporated society, it must re-register under the Incorporated Societies Act 2022 by 5 April 2026 to remain legally compliant.
Re-registration requires an updated constitution that incorporates the Act’s new requirements. These include governance arrangements, member rights and obligations, conflict-of-interest management, and disciplinary and dispute resolution procedures, along with other key changes that must also be addressed. A general meeting is required to approve both the re-registration and the updated constitution. To learn more about what’s required and how to re-register, click the button below. |
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XERO TIP OF THE MONTH: SAVE TIME WITH XERO’S INVOICE DUE DATE SHORTCUTS |
Did you know you don’t have to manually calculate due dates for each invoice?
Here’s an easy Xero tip that many users overlook, but once you start using it, you’ll wonder how you ever lived without it. When you’re entering a due date on an invoice, you don’t need to stop and calculate the exact date based on your payment terms. Instead, Xero allows you to use quick shorthand to do the work for you. Simply type shortcuts like “+7”, “+14”, or “+30” into the Due Date field, and Xero will automatically convert that into the correct calendar date. This is especially helpful if you work with different payment terms for different suppliers or if you’re batching a large number of invoices at once |
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PREPARING TO MAKE THE MOST OF YOUR AUDIT FEEDBACK |
The annual audit is a vital part of your school’s financial oversight - it's not just a compliance exercise, but a chance to strengthen governance and support informed decision-making. With audits for the 2025 financial year starting now, boards and school leadership can take proactive steps to ensure they are ready to make the most of the audit process and the findings when they arrive.
Below are five key considerations for boards and school leadership ahead of the audit. |
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1. Understand the audit process: Familiarise yourself with how the audit is conducted and the areas auditors focus on, such as internal controls, reporting, and compliance processes. Knowing what to expect now helps leadership interpret findings efficiently once the audit report is issued. 2. Plan for review and discussion: Decide how the board or finance committee will assess audit recommendations. Setting up a clear process ahead of time ensures that your school can respond quickly and confidently when the report is received. 3. Consider key focus areas: Even before feedback arrives, review potential areas for improvement in your school’s financial practices. Thinking ahead about internal controls, reporting, and oversight processes makes it easier to act on audit recommendations efficiently. 4. Prepare to track and implement recommendations: Have a system ready to assign responsibilities, set timelines, and monitor progress once audit findings are available. This ensures that improvements are applied consistently and effectively. 5. Strengthen governance and transparency: Being proactive now reinforces confidence among leadership, staff, and the board. Using the audit as a tool for strategic oversight ensures your school’s finances are well-managed and prepared for future planning. By taking these steps early, boards and leadership can turn the audit into a tool for learning, improvement, and stronger governance, rather than just a compliance exercise. Preparing now ensures your school is ready to act effectively once audit feedback arrives in March. |
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