How much should I pay myself? It is a question that many business owners ask themselves. And deciding what that number should be is rather tricky. Unfortunately, there's no set formula for working out the exact number. It depends on an interlinking range of factors –...
Never in history has it been easier to operate a business without paper. The world is digital, which means life – and running a business – is easier, faster, more efficient, and most importantly, better for the planet. So, that means you don’t have to keep dusty old...
As a business owner, endless lists of tasks eat up your precious time every week. Regardless of the size of your business, payroll is one chore that tends to result in procrastination and tension headaches. However, this essential task shouldn’t be put off! Getting it...
Do you know the difference between profit and cash? It’s all money, right? Technically, it is all money. But it is not the same kind of money. Many people assume profit and cash are one and the same. But in business, they are very different metrics, each with a...
Every business owner needs something of a DIY attitude to succeed. This particularly true in the early days of a new venture. And as Kiwis, we are perfectly equipped for a bit of DIY on any occasion. All we need is a bit of number 8 wire, right? Or maybe some duct...
When you first get into business for yourself, it often makes perfect sense to juggle every business task single-handedly. However, as your business takes root and begins to grow, wearing all the hats starts to become a less than ideal endeavour. If you are...
How certain are you that every aspect of your financial management is legally compliant? Are you cross-your-heart-and-hope-to-die, 100 percent sure? Reasonably confident that you are probably doing the right thing? Or no idea, stab-in-the-dark and cross your fingers...
Regardless of how big or small, or how new or old, your business is, getting your finances sorted is vital. Failing to get these basics in order is like setting off for a run without tying your shoelaces. You might make it through the front door if you're lucky, but...
Running a business can be bewildering at the best of times. But, come tax time and the fine print gets even more confusing! Knowing exactly which things you can and can't claim back can help things run more smoothly at "that" time of year. Plus, it’s always nice to...
On the 13th March 2020, Practice Ignition named Admin Army's CEO, Irene Bennetts, one of the Top 50 Women in Accounting. This global award recognizes women who are leading the charge when it comes to advocacy, change and community within the Accounting and Bookkeeping...
As the end of the financial year approaches, you are probably thinking about hiding under the desk from your tax return. Unfortunately, you might have to crawl out from under there as that return won’t submit itself! While your bookkeeper and your accountant can do a...
Do numbers make you feel a little bit queasy? Do your eyes glaze over at the mere thought of your chart of accounts? Knowing the fact that those numbers in those reports actually equate to hard-earned dollars can make you feel even queasier! That is why it is...