Hello to all KTS Clients,
With the holiday month of January behind us we are rapidly heading towards the end of the financial year 2025.
We trust that our Clients are having a successful trading year, we look forward to seeing your results.
If you require any budgeting advice or have any worries about your financial situation please reach out to us at KTS.
Clients who are using MYOB
This is a reminder to Clients that by the 28th February if you are using MYOB and you are a BNZ customer you must reconnect your MYOB to BNZ or your bank feeds will stop.
Time is running out !
It is only 8 weeks until the end of the financial year.
A number of our clients have still not sent their information to us for the year ended March 2024.
Our team have been calling these clients which means less time for them to work on other’s financial statements.
If you are one of these clients you risk not getting your accounts done in time with possible late filing payment penalties.
Vision for the future
The beginning of a new year is a good time to focus on the vision that you have for your business/financial affairs.
No matter the size of your business, take time to envisage what you want your business or personal affairs to look like in three to five years. This process can be led by the owners, founders, and/or a leadership team.
“Without a vision, the people perish”
Don’t let your business perish because you don’t have a vision.
Prepare now for annual accounts
March 31 is approaching – the tax balance date for most people.
Get your house in order to minimize hassles and tax.
These are some of the areas to think about:
- Bad debts
- Stock-take
- Logbooks for motor vehicles
- Maintenance of equipment
- Holiday pay
Stay on top of your debts
Keep a close eye on who owes you
In tough times, stay on top of your debts.
Prevention is better than cure.
Don’t offer credit unless it’s absolutely necessary. If you do, make sure you check out new customers thoroughly.
- ask for references and get their permission to follow up
- request the business’s financial statements
- check public records for any legal judgements against them
- look up their website and read customer reviews online.
Tax Calendar
GST is due on the 28th of February.
This is for the period ending 31st January 2025
It’s a good idea to schedule this payment to avoid late penalty fees.
