The 5 Keys to a Stress-Free Payroll System for First-Time Employers
Running a growing business is exciting, but with growth comes new challenges—especially when it’s time to hire your first employees and set up payroll. For many first-time employers, payroll can feel daunting: managing taxes, compliance, and employee payments all while keeping the business running. It’s no wonder payroll is one of the most stressful aspects of running a small business. But it doesn’t have to be! In this blog, we’ll break down five key steps that will help you set up a ...
October 1, 2024How to Be Your Bookkeeper's Favourite Client: Tips for Small Business Owners
As bookkeepers, we know that having a great relationship with our clients is key. It’s not just about crunching numbers; it’s about working together to help your business thrive!We get it—bookkeeping might not be your favourite part of running a business. After a long day, who really wants to spend hours creating invoices or chasing late payments? You’d probably rather be focused on growing your business or doing something that excites you. But guess what? We love bookkeeping! If dealing...
September 17, 2024Why Small Business Owners Should Keep Learning
As an advisor to small business owners, it's essential I stay informed and up-to-date with changes—not just in legislation but also in technology and service delivery. Recently, I’ve been doing some extra training to improve my knowledge in a few key areas of my business. This experience got me thinking about why embracing lifelong learning can be both fun and re-energising for small business owners.Running a small business is an adventure, filled with opportunities to grow, adapt, and thriv...
August 7, 2024Apps Alone Aren't Enough: How Business Processes Complete the Picture
Recently, I've been working with clients on their systems and apps. I view these as tools—like your phone is for communication or a car is for transportation.When introducing a new tool (app) into a business, what should you consider?Apps can significantly boost efficiency and address specific issues, but they're usually just one piece of the puzzle. You still need human expertise, other tools (apps), and solid business processes to complete the picture. Capturing your processes through busine...
July 22, 2024Celebrating Our Inclusion in Xero's "Leveraging the App Advantage" Report
We are thrilled to announce that Conduit Bookkeeping has been featured in Xero's newly released special report, "Leveraging the App Advantage: New Zealand 2024" which you can download here. This in-depth report provides valuable insights into how accounting and bookkeeping practices across Aotearoa New Zealand are using digital tools to enhance performance for themselves and their clients....
June 6, 2024The Power of Business Coaching, Industry Groups, and Networking
Running a small business can sometimes feel like you're on a roller coaster. There are highs, lows, and plenty of twists and turns. It's exciting, but it can also be a bit scary and confusing. That's why it can be really helpful to have some support along the way. This is where industry associations, hiring a business coach or business mentor, and networking can be a real lifesaver. Industry associations can give you the inside scoop on what's happening in your field, a business coach or busines...
April 15, 2024The Power of Outsourcing: Why Getting Outside Help Can Boost Your Business
Running a small business means you have a lot on your plate. You're trying to sell your product or service, keep your customers happy, manage your money, and more. Doing all this by yourself can be overwhelming and may not be the best way to grow your business. This is where getting help from outside, or outsourcing, comes in.What is Outsourcing?Outsourcing simply means delegating certain tasks or roles to external agencies or individuals. These could range from virtual assistants and freelance ...
March 25, 2024Be the Boss of Your Money: How Budgeting Can Boost Your Business
I've been working on my budgets recently - for both my business and my personal life. It's been an eye-opening experience - who knew I was spending so much on software subscriptions and streaming services 🤓 It made me realize how essential budgeting is, not just for my business success but also for personal financial health. So, I thought I'd take a moment to share some insights about why budgeting is so important.Whether you're running a small business or trying to manage your household fina...
March 18, 2024What is Business Financial Resilience and Why Does It Matter?
You might have heard people talk about "financial resilience" in business. But what does it mean, and why should you care about it?Think of financial resilience as your business's money strength. It's about being able to handle money surprises and bounce back from them. This could be anything from dealing with a global pandemic, a slow economy, a regional natural disaster or losing a big customer.So, why is having money strength important for your business?1. Handling Money Surprises:All b...
March 11, 2024Get Your Business Ready for Year End
If you're new to running a business, you've probably heard some daunting tales. Even seasoned business owners might have a few nerve-wracking experiences to share. Spending late nights sorting paperwork, rummaging through piles of receipts, and rushing to balance your accounts can be quite overwhelming. This is enough to instil a sense of dread in any newcomer about the end of the financial year.But, don't worry. There's a solution that won't require sleepless nights or frantic searching. The en...
March 4, 2024Minimum wage is increasing on 1 April 2024. Are you ready?
The main details of the increase are:Adult minimum wage will go up from $22.70 to $23.15 per hour.Starting-out and training minimum wage will go up from $18.16 to $18.52 per hour.Now is the time to check your employment records, processes and systems are current. Here are some key factors to consider:Maintain employee pay relativity Maintaining employee pay relativity is crucial for fostering fairness, morale, and retention within an organization. It ensures that compensation aligns wi...
February 26, 2024Why Set Goals for Your Small Business?
I often find myself being so busy working in the business (the doing part), that I forget I need to also work on the business (the direction I want the business to take). So, one of first tasks I did this year when I returned from my Summer break was to set my business goals for 2024. I've defined what I want to accomplish and where I want my business to go in the next 12 months.Whether you're just starting out, or looking to take your business to the next level, setting goals provides you...
February 19, 2024Escaping the Insanity Loop: Breaking the Cycle in Your Small Business
There's a famous saying that goes, "The definition of insanity is doing the same thing over and over again and expecting different results." This quote, often attributed to Albert Einstein, encapsulates a fundamental truth that resonates deeply with small business owners. It's easy to fall into the trap of routine and familiarity, repeating strategies and tactics that may have once worked but are now yielding diminishing returns. However, clinging to the same methods hoping to achieve different ...
February 12, 2024Are you ready for the minimum wage increases on 1 April 2023?
The main details of the increase are:Adult minimum wage will go up, from $21.20 to $22.70 per hour.Starting-out and training minimum wage will go up from $16.96 to $18.16 per hour.There are also key changes in New Zealand payroll calculations for the new financial year:The annual ACC earner levy rate is increasing from 1.46 percent to 1.53 percentThe annual ACC earner levy threshold is increasing to $139,384The student loan threshold is increasing to $439 per weekWhen there is an increase in min...
March 17, 2023The real costs of employing staff or contractors
A client recently asked me about the cost of employing some help in his business. The client had done some research into hiring an adult apprentice and was aware of the government offered assistance of $1000 per month towards training. They also wanted to know how much work there would be in setting up the payroll side of things as well as the costs involved with KiwiSaver, PAYE and all the other employment requirements that go along with becoming an employer. Subsidies? If you can f...
December 2, 2022Planning for Christmas 2022/New Year 2023
It's the time of the year we all look forward to - the traditional Kiwi "Summer Holidays" As bookkeepers, it's usually when we're juggling fewer working days in December and January with family and other events, while ensuring your needs as our valued clients are met - bills still need to be paid, invoices sent & payrolls processed regardless of the time of the year. To help us with our workload planning for this year, can you please let me know your plans for the Chris...
October 28, 2022Conduit turns 5!
Can you believe it's been 5 years? We are so grateful to all the amazing people we have worked with over the last 5 years! #birthdaybonus Our friends at Xero have a promotion running at the moment that we want to share with you. We can set you up on a new Xero subscription or upgrade your existing plan* and get a 50% discount for 3 Months! (*terms apply) #xero #xeroadviser Here's to many more years of creating order out of your business chaos!...
August 15, 2022Continuous learning
One of the things I love about bookkeeping is the continuous learning. Whether its systems, tax & employment legislation or new clients' businesses, we are always upskilling & polishing our craft. We just love bookkeeping! Recently, I undertook to improve the financial reporting we provide to our clients. Not only have we received very positive feedback from our clients during the trial, I'm also very happy to announce I've been awarded Certified Advisor status for Syft Analytics.If your struggl...
March 18, 2021 Posts 1-18 of 18 | Page