Have you recharged your batteries on holiday?

Sep 30, 2013

Now most of us are back from our summer holiday’s I thought it would be useful to consider a couple of things that you really need to get on top of before Christmas:

Cloud accounting

If you are using a software package that is stored locally on your PC or laptop or even using manual records then maybe it’s worth thinking about whether to change to an accounts package that you can literally take anywhere.

There are many time saving options within cloud accounting from being able to upload or automatically import bank statements, to quickly uploading invoices.  In addition you will be able to send invoices on the go.  If you are meeting a customer and you don’t know how much they owe you, it is possible to access this information on your phone and let them know.  This should speed up your debt recovery times, which is always a good thing.

We are Xero experts and will be able to help you set up your online accounting system or transfer your data over from your existing system.  Just call us, we’ll be happy to advise you.

Tax planning

Whether your year end is fast approaching or a few months away it is always worth considering where you can save tax.  One of the best ways to reduce your tax bill is to invest in new equipment.  This could be a new van for the business or a new laptop or desk for the office.  Every penny you invest in new equipment can substantially reduce the tax you pay.

I would recommend that you speak to your Accountant first to find out the best time to buy new equipment and also how much you can spend, because it is vital to plan well to get the best relief.  If your Accountant can’t help you then give us a call.

If you have any questions regarding anything above and would like some more information please contact us.  All initial meetings are free of charge and of course at no obligation to you.

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