The end of the Financial Year is almost upon us! This means that a quarter of the year has just flown by… Here is a quick update with our usual client feature, Xero tips and some important fee updates.
Client Feature - August - Preloved Designer Clothing
‘It doesn’t have to be new to be awesome!’
Have you checked out August – Preloved Designer Clothing, they are a wonderful pre-loved designer store here in Moturoa. Rachel started the business just under a year ago with the aim of creating a space in New Plymouth that redefined pre-loved shopping. Seeing a gap in the market and combining her passion for fashion, August was created. If you are on the hunt for something a bit different or have an event coming up and don’t want to spend a fortune, check out what August has in store.
Changes to our Invoices
We are changing the way we invoice Xero fees… Currently, we are invoicing your Xero fees for the month they are due. However, this month you will receive a double amount for Xero fees, to put your payment a month in advance.
Xero is increasing some of their prices on 15 March, for a few of the special packages they offer.
· Ledger $5.50 per month
· GST Cashbook $25 per month
· Non-GST Cashbook $14 per month
All these prices exclude GST. If you are not sure what plan we have you on, please get in touch and we can let you know if these price updates will affect you.
Xero Tip – Bills Email
Your Xero Bills have a unique email address that you could utilize!
Go to Business – Bills to Pay, then next to the green New Bill button, there are 3 dots, click these and select ‘Create Bill from Email.’ Copy this email address and save it as a contact in your emails. From here you can forward any bills you get to this email address. They will appear in your draft bills to pay, saving you time later.
Xero Files - 2023
You may have already noticed some new folders in your Xero files, (Xero files can be found under the drop-down menu on the top left above settings). Our wonderful Katryna, has been busy adding some folders for your 2023 documents to go into. You will also find
our End Of Financial Year checklist there as well. Using these folders will help us gather all the information we need for your tax returns easier.
1 April Changes
Three changes are happening from 1 April 2023 that you should know about... the first being the new minimum wage rate and the second being adjustments to the annual ACC levies, and the third is our pricing update.
The new minimum wage will be coming into effect soon. As an employer, ensure you are ready for this change and have set up your payroll to adjust your employee’s pay rates as of 1 April.
The annual ACC earner levy rate is increasing to 1.53% and the annual ACC earner levy threshold is increasing to $139,384.
If you are having some issues, or just want someone to quickly look over things to ensure they are correct, just email or give us a call!
The last change that you need to know about is that we are tweaking a few of our prices. As we are a small business, we do our best to keep costs down, however, with inflation, we cannot always absorb all the extra costs as other prices creep up. We are adjusting our Administration Services and Payroll fees, if you have any queries about these changes, please get in touch, we are happy to answer any queries.