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How to manage accounts receivable & payables

Many businesses issue invoices, which are requests for payment at some future time. If that’s you, then you have accounts receivable and the money you’re owed needs to be closely managed. What is accounts receivable? Accounts receivable involves invoicing customers and tracking payment of those invoices. It often requires you to follow up on overdue payments. Why does it matter? You’re not a charity. You need to get paid. Fail to manage accounts receivable correctly and your business will ...

How to do bookkeeping data entry

Data entry is the foundation of everything else in bookkeeping and accounting. You need to enter the right numbers into the right accounts to truly understand how the business is doing. What is data entry? As the name implies, data entry is the process of recording financial transactions – money coming into and going out of the business. Why does it matter? If you’re not keeping a close eye on money in, money out, and things like debt, you’ll soon lose sight of how viable and profitable yo...

How to set up a chart of accounts

The chart of accounts sits just under the five main accounts in the general ledger. You can learn more about the main accounts in our chapter on double-entry bookkeeping....

Introduction to bookkeeping

Bookkeeping is the practice of recording and tracking the financial transactions of a business. Bookkeepers regularly summarise this activity into reports that show how the business is doing. They may also perform wider tasks such as invoicing, paying bills, preparing tax returns, monitoring key performance indicators, and providing strategic advice....

Wave Accounting App

Wave’s easy-to-use accounting software can connect your bank accounts, sync your expenses, balance your books, and get you ready for tax time. Start taking control of your finances today with the best accounting software for small businesses.Keep track of your business healthHave an eye on the big picture so you can make better business decisions. Our robust reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends.Make tax time a b...

Wave accounting Software - Free for small business

Accounting software that's free and powerful Wave’s easy-to-use accounting software can connect your bank accounts, sync your expenses, balance your books, and get you ready for tax time. Start taking control of your finances today with the best accounting software for small businesses.Create your free account Check out our guide to setting up a FREE Wave account...

Leah Donaldson, Story to financial freedom

Tena Koutou Katoa Financial freedom can mean many things to us individually. I speak from my journey today and in the hope to encourage others. As I watched the budget 2020 being delivered by Grant Robertson the Finance minister, to partake in my responsibility within my home, as I believe it all starts there. The decisions made yesterday are going to affect the future of my children and their children and the generations to come.  In my view, DEBT is not always the answer, but is always th...

Entering invoices and receipts side by side in Xero

Files in Xero allows you to email documents like your purchase bills, straight into the Xero files inbox. There you can create a transaction from the file and view it side by side as you’re entering the details....

Brightline property rule

Who does the Brightline apply to? This rule applies to all New Zealand Tax residents including who buy overseas residential properties. The bright-line property rule does not apply to properties bought before 1 October 2015. What is the Brightline property rule here in Aotearoa (New Zealand)? If you sell a residential property you have owned for less than 5 years you may have to pay income tax. This rule also applies to New Zealand tax residents who buy overseas residential properties...

Graham Lowe - 12. Discover the power of your team early

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. His final principle is on seeing the power within your team, and harnessing individual talent....

Graham Lowe - 11. Put up with the pain

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. His next principle is on learning to accept and cope with disappointment – move on and try again....

Graham Lowe - 10. Keep shifting the attack

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. The 10th principle stresses the importance of reevaluating your plan and adjusting your attack....

Graham Lowe - 9. Be ready and well prepared

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. In the 9th principle, he shares why you should always be prepared – both mentally and physically....

Graham Lowe - 8. Kick for the seagulls

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. This principle is all about going right when everyone is going left – do something different....

Graham Lowe - 7. Never die wondering

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. The 7th principle focuses on speaking up when you have an idea before it’s too late to act on it....

Graham Lowe - 6. Look for the man (or woman) in the dinner suit

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. Number six is about recognizing, encouraging, and taking advantage of people’s natural talent....

Graham Lowe - 5. Practice until the lights go off

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. The fifth principle states there’s always room to improve, so practice until the lights go off....

Graham Lowe - 4. There's no such thing as can't

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. In his fourth principle, Graham gives the underlying reason many of us say we can’t do something....

Graham Lowe - 3. Let the dog see the rabbit

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. And his third principle is all about keeping your eyes on the prize and not getting distracted....

Graham Lowe - 2. What is a winning team?

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. So what makes a winning team? It’s less about meeting numbers and more about culture and respect....

Graham Lowe - 1. You have to have a plan

Legendary former rugby league coach, Graham Lowe shares the 12 dynamic principles that have shaped his path, so you can apply them to your own business. He starts with the importance of having a plan – one that makes the people on your team shine....

Graham Lowe’s 12 Dynamic Principles

Legendary former rugby league coach, Graham Lowe, has learnt a few things about success in his 35+ year career. Now, he’s teamed up with Xero to share the 12 dynamic principles that have shaped his path, so you can apply them to your own business....

How to improve your management and leadership

Fine tuning how you manage and lead is one of the most important business investments you’ll ever make. Here’s a quick view on improving your skills.  Put your people first Whatever your reasons for being in business, you can’t do it alone. To succeed in business, you need to: work well with your people (whatever their skill-level or the situation)help your people perform wellknow how to effectively delegateknow when to delegate and when to take control. When you invest in your manage...

Learn how your financial statements tell you a story!

For some small business owners, putting together your financial statements can seem like a daunting task. KREA provide in this blog, as an insight to learn how to read and understand what your numbers are saying so you are informed, equipped and empowered to make well informed business decisions.  You may ask what is a story......its an account of past events in someone's life or in the development of something. So in understanding the story of your numbers YOU as the leader need to take re...

ServiceM8 + Xero

Take control and work smarter from the client’s first call through to scheduling, quoting, job completion, invoicing and payment....