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New laws for Trusts

Ben DuflouThursday, November 28, 2019

Parliament are in the final stages of implementing the Trusts Act 2019, which will replace the Trustee Act 1956 and the Perpetuities Act 1964.  The new Act will come into force on 30 January 2021. With the new Act, there will be increased compliance for trustees, including mandatory duties for trustees. There will also be a requirement to inform any beneficiaries that they are a beneficiary and clearer rules about when trustees are required to provide information to beneficiaries.

If you have any questions about how the changes may affect you or your Trust, please contact us.

The General Ledger - November 2019

Ben DuflouTuesday, November 26, 2019

  • New branding for AAF!
  • Xero Assistance Programme: Supporting Mental Health & Wellbeing
  • Get set for summer: staff holidays, host responsibilities and cash flow
  • BuilderTrend: project management app for builders
  • Wellington Night Shelter: Street Appeal
  • Billie Brook Photography
  • Upcoming Tax Dates
Click here to find out more

BuilderTrend - the perfect app for builders

Ben DuflouThursday, November 14, 2019

BuilderTrend is a cloud based software that syncs with Xero, specialising in project management for the building sector.

This is an amazing end to end solution for managing projects, including quotes to invoices, and leads to sales.

If you use BuilderTrend and are looking for a business advisor, we would love to hear from you.

Adam Forrest and Sarah Toner recently completed the BuilderTrend Super User Certification and we'll be looking to have two more staff members complete the Super User Training soon, so we have a team on hand to assist you.

BuilderTrend's Core Values:

Xero Assistance Programme - Supporting Mental Health & Wellbeing

Ben DuflouTuesday, November 12, 2019

Xero, in partnership with the Mental Health Foundation of New Zealand have released the 2019 Small Business Wellbeing Report. The results of this report show that there is still a crucial need for mental health support amongst Kiwi small businesses.

The latest blog from Xero (Doubling down on mental health support for Kiwi small businesses) states the following:

New Zealand has critical mental health statistics to address as a country. For many people their workplace can play a central role in building their resilience and positive mental wellbeing. Looking after wellbeing is not only the right thing to do for our people and ourselves, but also the right thing to do for our businesses.

Shaun Robinson, CE of the Mental Health Foundation echoes this, “Building mentally well workplaces is about adapting the tools businesses already have and integrating a mental wellbeing focus to work that is already underway. There is no one-size-fits-all approach to creating a positive work environment and you don’t need to reinvent the wheel. Allowing flexible hours, open door policies and facilitating opportunities for team members to build connections with one another are very powerful and simple ways to build positive work environments and boost employee wellbeing,” says Robinson.

Xero are extending their Xero Assistance Programme (XAP) to reach more Kiwis. They are offering XAP to all starter, standard and premium Xero subscribers, for an additional 12 monthsThis service will provide free and confidential wellbeing support to approximately 850,000 New Zealand small business owners, their employees and families. The service is available through Xero’s own provider, Benestar. Users will have access to face-to-face, telephone, live chat and online counselling, as well as the Benehub and Benestar app.

Xero state that: For many business owners, part of the problem is that they don’t know where to start. I hope employers will start by using XAP and other employee assistance programmes as a preventative measure for support, rather than just directing people to these services when they are in crisis. This is one of the ways business owners can make a sizeable impact on mental wellness in the country.

For information about how to access XAP, email

Cash Flow – Top Tips

Ben DuflouTuesday, November 05, 2019

One of the most important aspects of running a business is managing cash flow. Without sufficient cash, a business simply cannot function.

It is well known managing cash flow can be a challenging task, especially for small to medium sized businesses.

Here are our top 5 tips to assist you in managing your cash flow as efficiently as possible.

1. Prompt invoicing

Invoicing is a key component of good cash flow management. Once you’ve delivered a product or service, don’t wait to invoice for it. The later you invoice, the later you will get paid.

2. Keep accounts up to date

Keeping your accounts up to date enables you to view the financial state of your business at any point in time, helping you spot any shortfalls in cash flow before it's too late. 

3. Keep your business and personal finances separate

It is essential to keep business and personal finances separate. Combining the two could result in an inaccurate picture of how your business is performing.

4. Build up a cash reserve

Building up a cash reserve enables business owners to have a safety cushion for any unexpected expenditure or unpaid invoices. This helps enable businesses to meet their cash flow commitments.

5. Budget/forecast for expected large expenditure

If your business is expecting to incur a large outgoing of cash, for example for new equipment, it is crucial you budget for this to ensure your business has the sufficient cash to meet all business commitments.

If you would like assistance with preparing a cash flow forecast to help your business monitor its cash flow please touch base with the All Accounted For team.

Chartered Accountants Smart Payroll Xero Certified Advisor