ACCOUNTING AND TAXATION SERVICES

At Connect² Chartered Accountants small-medium business advisory and family business advisory is one of the services that we offer. We know that businesses rely on insightful and accurate financial information. We work alongside you by creating a relationship that enables us to initially complete a cash flow forecast for your new or existing business. Through using our accounting tools and packages together with Xero or MYOB packages, we can create business plans and monitor your progress to achieve business growth and success.

We understand that all businesses are unique, with different business goals, values and purposes. We want you to achieve your goals and can do this by taking an holistic overview of your business through our business tools and programmes together with our technical advisors that we use. We encourage businesses to complete a business plan. The business plan helps unleash where your business future lies and through monitoring we can help you achieve your business goals.

Running your own business can mean long, unpredictable days. To be successful in business it means being passionate about your business, good at managing risk, persistent and open to learning new skills. Often your greatest pain is the lack of time that you have available to spend with your family and other interests. We understand that running a business can become overwhelming at times and we are here to help, whether it is discussing future business planning, giving small business advice or taking care of your payroll and debtors services.

At Connect² Chartered Accountants Tauranga we can offer regular tailor made business meetings where we can discuss business planning and strategy, interpret management reports and help to monitor cash flow forecasting. We can prepare annual or quarterly, easy to read business reports, to provide you with timely and up to date management reports. We can assist you with payroll services, debtor's services, tax compliance, business planning, and cloud accounting services so that you can focus on what you do best while we ensure that your financial direction is strategically planned and mapped out for you.

At Connect² Chartered Accountants we work with clients to give comprehensive advice and find an accounting solution that best fits your farm and orchard accounting requirements. Our farm accounting services provide easy to read annual reports. These reports include comparing actual performance with budgets and allow for comparison with previous years to clearly show patterns and trends to assist you in making sound, future focused decisions.

We give our clients a clear picture of their farm performance by using Figured and Xero farm accounting, online software, which allows farmers to better manage their financial farming operations. Figured accounting allows for rural advisors, bankers, accountants and farmers to work together and collaborate for business planning for the future.

At Connect² Chartered Accountants Tauranga our services enable you to see the financial effect on your rural operations, easily view up to date reports, and assist with cash flow forecasting ensuring confident future planning. In conjunction with Figured and the budgeting tools available, the reports produced can be used to obtain bank loans and financing.

• Tax Minimisation

At Connect² Chartered Accountants, our tax compliance services help you with tax planning and tax minimisation. We are able to arrange quarterly and annual meetings to offer tax advice and restructure your business and personal financial accounts in the most efficient way to minimise your tax liability and keep you on track to reach your financial goals.

We work within IRD guidelines, we are up to date and aware of the tax laws. We can help you avoid potential penalties and interest charges from untimely payments and make sense of your receipts, bills and notices. We have access to specialised tax advice. We have a relationship with a specialised tax consultant who can assist us with very complex tax matters.

Budgeting, planning and monitoring is one of the most effective ways to keep your business and its finances on track. At Connect² Chartered Accountants we provide accounting and budgeting services in which we regularly meet with you to provide small business budgeting and cash flow forecasting. We help with cash flow forecasting by tracking and allowing you to control your income and expenses to help you save money and enable you to manage day to day payments as well as long term and future investments.

It is essential to have sufficient capital when setting up a new business. At Connect² Chartered Accountants we provide you with cash flow forecasting and budgeting for new businesses. Once your business is functioning it is important to tightly manage and plan its financial performance, we assist you in this by comparing your performance against projected forecasts and budgets, interpret and analyse results, and plan with you to improve future performance. If you are restructuring your business we also help with the rebalancing of your budgets and/or debt to ensure that your business is operating at best practice efficiency and that you have the ideal loan structures.

Financial emergencies or unanticipated events are often unpredictable, at Connect² Chartered Accountants we monitor, liaise and discuss with you and help you change the plan to incorporate these events. Our budgeting services and business planning will enable you to make confident financial decisions, while keeping in mind your business goals and bank requirements.

When it comes to your rental property it is essential that you have a reliable system in place to ensure that your tenants are paying their rent. If you are looking for a rental property accountant, we have you covered.

When it comes to rentals having up to date and accurate accounting can be the difference between having to chase a tenant or freeing up time to enjoy your own interests. At Connect² Chartered Accountants Tauranga we can assist you with the reports required to ensure that the paper work is up to date and that your tax returns are seamlessly processed.

Talk to us today about our online accounting packages.

We provide company formation services that can assist you in the structure and set up of your new business. At Connect² Chartered Accountants we help you to set up for success through business planning and strategy, initial cash flow forecasting, succession planning, tax compliance, budgeting services and managing your accounts.

In New Zealand, companies are separate legal entities and need to be formed and registered through the NZ Companies Office. Connect² Chartered Accountants provides a service where we will incorporate your company, check that the name you've chosen hasn't been used by anyone else and register for GST, PAYE, FBT, and obtain an IRD number.

Every company must annually file a return with the NZ Companies Office. At Connect² Chartered Accountants we can attend to the annual return requirements for you. Legislation requires that all companies keep company records. We can maintain your minute book, shareholders, directors register and interest register together with attending to company minutes.

At Connect² Chartered Accountants Tauranga we can help you structure your business for success. There are number of different ways to structure your business for you to receive the maximum business benefits. Our business planning tools and services can help you to grow and develop your business through strategic business plans. If you are looking for a new opportunity or wanting to build an even bigger business or focused on running a small business, at Connect² Chartered Accountants we can use our knowledge and experience to help your business succeed by helping you improve your business practices and profits in areas that you may not have even thought about.

It is important that as a business the structure that you operate under is reviewed from time to time to ensure that it meets your current needs. At Connect² Chartered Accountants we can conduct a financial review of the ownership and type of entity that your business operates through. We have tools that we can use to offer you with business advisory that looks at business planning and improvement, loan applications and business valuations.

Long term profitability is highly important for businesses. At Connect² Chartered Accountants Tauranga we can complete a business strategy with you. This takes an overview and holistic approach to your business and looks at minimising your expenses and costs and maximising revenue and cash flow within your business. We have tools that enable us to highlight the areas in which your business may not be operating efficiently and the impact of every financial decision before you make it.

At Connect² Chartered Accountants we are able to predict profit, performance and cash flow. We have tools that allow us to analyse and give your business a health check of five key aspects of a business, these being: profit, balance sheet and working capital, cash flow, return on assets and investment and funding needs. We can also help you to set financial goals and see what is needed to achieve your goals, and what impact the changes you make will have on other results such as profit and cash flow. With the changing business market, we can help you monitor the market changes then review your budgets and goals so that you have no hidden or surprise shocks when the results are determined.

We can also provide you with a wide range of valuable reports covering in-depth financial analysis, financial health checks, KPI Variables and ratios, marginal cash, cash flow summary and multi-period actual to variance reports so that together we can help you achieve your business goals.

Whether you are planning on selling your business or handing it on to the next generation it is important to ensure that your business is well set up and likely to continue as a strong competitor in the future. Similarly, when buying a business, it is important that you know what you are buying and the price you should be paying for it. At Connect² Chartered Accountants we see the area of succession planning requiring our involvement so that you can ensure the future continuity and success of your business. We offer a need based solution to success by looking at the family members involved, and discussing your businesses goals and values. We look to structure business plans that incorporate future leaders of your business and ensure that the values and needs of your family are considered and protected.

We deal with families, including introducing other family members into your business while supporting with the reallocation of management, ownership and taxes. At Connect² Chartered Accountants Tauranga we look at the value of the business and guide you through the process of succession planning whether it is through family succession planning or employee or business partner succession planning with ease so you can retire with peace of mind.

With our Cloud accounting services, we can help with the set up and training of Xero accounting software. Whether it is GST returns, invoicing, spreadsheets, payroll or cash flow, we can take the stress and time away by offering customised software packages to suit your business needs. With the use of Xero accounting software we can set you up to run your business on the go with the use of a mobile app, get paid faster with online invoicing, and help with rapid account reconciling. At Connect² Chartered Accountants Tauranga with Xero online accounting software we can help you with paying bills, invoicing, inventory management, payroll, bank reconciliation, data security, quotes, reporting and more.

At Connect² Chartered Accountants we can set you up with MYOB online software that allows you to have as much or as little control as you desire. Whether you are a large business or a small one Connect² Chartered Accountants Tauranga has the tools to set you up for success. Using MYOB online solutions, we help you stay in control of your finances, be more productive and help to reduce your risk. We can get you up and running with the MYOB software, train and equip you with the knowledge and skills you require, check your debtors and creditors and assist with any queries you may have.

We can also access and check your reports from MYOB and interpret them for you. The flexibility offered by Cloud accounting packages enables us to tailor packages to best fit your business and find the best accounting solution. At Connect² Chartered Accountants Tauranga we can find solutions that meet your needs whether it is managing your day to day accounts or more complex business management.

MYOB provides packages featuring:

• Payroll services;
• Calculating and tracking GST;
• Managing quotes, invoices and statements;
• Selling items or services;
• Tracking and paying expenses;
• Managing customers and suppliers;
• Inventory management.

At Connect² Chartered Accountants Tauranga we can provide you with weekly or monthly invoicing and debtor statements. We can reconcile your accounts and follow up on outstanding debtor payments. We can assist you with solutions to managing your debtors and creditors.

Running a business can be time consuming, at Connect² Chartered Accountants we can take care of any administration tasks needed in order for your business to run smoothly. We offer payroll services that can help reduce the time you spend on administration through setting you up with an online computerised payroll system. Our payroll services help to facilitate processing, timely payments and preparation of IRD returns.

We are able to prepare employee wages weekly, fortnightly or monthly on behalf of your business. We can set up new employees for you, update kiwi saver and sort tax codes. We also do monthly P.A.Y.E using IR online services reporting. We are aware of your obligations as an employer and we are able to advise and keep you well informed of these.

ACC invoices can be hard to interpret and many clients are unclear of their obligations. At Connect² Chartered Accountants we are able to deal with ACC on your behalf and ensure that you are not paying any more than you should be. We can also help with ACC applications and claims.

The need to protect your family's assets against risk and vulnerability is important. The increase in compliance and the ever-increasing risk of conducting business means that the use of NZ Family Trusts has increased significantly.

At Connect² Chartered Accountants we can assist you with your Trust administration and tax planning. Whether you have an existing NZ Family Trust or thinking about trust planning we can help.

Setting up a NZ Trust is a big commitment, we can help you decide whether a Family Trust will be of benefit to you and explain the advantages and pitfalls. We can help you find the best way to meet your family needs and achieve your desired outcomes. We understand that one size does not fit all so we are willing to discuss with you and find a solution that best suits you and your family.

Our trust administration services will continually support and help manage your Family Trust once set up. We will look through your trust deed and ensure that you have the most effective structure that suits your family requirements and provides you with maximum benefits.

At Connect² Chartered Accountants we will look after your Family Trust by completing the trust financial statements, tax returns, maintenance of the trust file and advice on trust gifting requirements. Correct NZ trust administration is very important as if a trust is not administered correctly it can be held to be a sham trust.

At Connect² Chartered Accountants we can assist with the documentation of trustee decisions and minutes, and ensure that annual meetings are held and documented. Our team will help with ensuring that the Trust complies with its income tax obligations, and that the Trust deed is reviewed with the Trust lawyer on a regular basis to meet the Trust purpose.

Some of the reasons why NZ Family Trusts usually are set up are to protect the family assets:

• against risk - eg. business owners may want to protect their investment assets from their business assets;
• Provide finances for children or grandchildren for their future and education;
• Prevent claims on an estate;
• Protect your assets in a relationship situation or breakdown;
• Provide for a family member with a disability;
• Protect your assets against a reintroduction of death duties or the introduction of capital gains tax.

It is therefore very important that if you have a NZ Trust it is correctly administered.