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Calculate GST in the Blink of an Eye

Monday, December 5th, 2011
Calculate GST in the Blink of an Eye Even with a calculator close to hand, a few shortcuts to help you calculate Goods and Services Tax (GST) are real handy. The whole business of dividing or multiplying by can get very ugly indeed, so here’s Smarts handy hints for working out GST content in ... Read more

What’s in Financial Statements?

Monday, December 5th, 2011
With a bit of practice, understanding your business financial statements is easy. Think of your Balance Sheet reports as a set of before-and-after photos, with your Profit & Loss report telling the story of what happened in between. Balance Sheet: Gives you a snapshot of the value of assets, ... Read more

Handy Guide to Debits and Credits

Monday, December 5th, 2011
Know Your Debits from Your Credits for Bookkeeping Success Understanding debits and credits is enough to test the patience of a saint if it’s not really your cup of tea. How can bookkeepers and accountants make head or tail of these, you may wonder? No sweat, with this helpful little table ... Read more

Meeting your Tax Deadlines

Monday, December 5th, 2011
Stay Up-to-Date with Bookkeeping to Meet Tax Deadlines Forget birthdays, anniversaries and Christmas and instead, punctuate your diary with a list of tax deadlines. Here’s a summary of the deadlines that every New Zealand bookkeeper needs to know about in order to stay out of trouble. New ... Read more

Understanding Types of Accounts

Monday, December 5th, 2011
What’s in an account name? Understanding the difference between account types is the secret to coding transactions correctly. Here’s a bit of a guide to help explain the difference between assets and liabilities, equity and income, and all that accounting mumbo jumbo. Current ... Read more

Bookkeeping Checklist

Monday, December 5th, 2011
This step-by-step bookkeeping checklist will help you sleep more easily at night, knowing that you’ve done everything you can to get your books in tip-top shape. Reconcile every bank account at least every month. Check for old or stale transactions. Look for pre-dated or future-dated ... Read more