Get your business ready for New Zealand’s GST rate change to 15% on October the 1st 2010.
Most people realise that a change in GST (or any other tax rate) will mean a change to any computer system that involves money.
Changing the GST rate in your accounting or point of sale system is one thing, but what else should be considered? What are the issues around the changeover – such as customisation of documents and reports and the timing of particular transaction types and situations – that could catch you out?
Some of the key issues you should consider include:
Pricing – how much, if any, of the GST rate increase will be on-charged and how will this be communicated to your customers? Click here for options
Staffing – will you need more staff to cope with changes in demand for goods and services, to make changes to IT software or hardware required or communicate changes to your customers?
Systems – what will be the impact of a rate change on your IT and other systems?
Transition – how will you manage the rates of GST for a transition period and how will this impact on processes, contracts, documents, and transactions such as lay-bys, credit notes, back orders, and quotations that are processed within time frames that span the GST changeover date?
Click here for a detailed checklist
To enquire about making painless GST changes in your accounting system, click here
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