Technology Networking Group – won’t be “ordinary”

Michael Jamieson and UHY Haines Norton Business Improvement hosted the July meeting of the Technology Networking Team (TNT) at which ASB Bank Motivational Speaker Laurie Sharp gave an entertaining and informative presentation on ‘What your customers really want’. Laurie’s key message was that businesses must constantly review their customer’s requirements and look at ways of…

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Taxing Matters

Taxing matters provides a summary of topical tax and business information relating to individuals and business. Business Benchmarking  The IRD maintains and publishes a number of industry performance benchmarks including for accommodation and food services, construction and retail amongst others. The industry benchmarks can be found at  http://www.ird.govt.nz/industry-benchmarks/bm-find-your-benchmark/ 2012 Tax Return Deadline A reminder that if…

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Clouding Your Thinking

Do you think legitimate customers of Megaupload ever imagined that Kim Dotcom would get raided by the NZ Police? Did they imagine that the very computers that stored their legitimate data alongside the alleged illegal data would get seized? The authorities don’t appear to have any sympathy or responsibility for delivering the legitimate data back to its owners.

Using the ‘cloud’ for data storage sounds leading edge but is it the right strategy for your business? Of course the term ‘cloud’ to most of us means ‘somewhere out there’. But the reality is your ‘cloud’ data is stored on servers that can be located anywhere in the world.

Running a business successfully involves arranging and controlling your resources in a productive manner that achieves your goals. Placing your data in the cloud may be highly beneficial to your business but the risks of handing over the controls to a cloud supplier should be considered:

  • What happens if your supplier gets bought out?
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Accounting Software for Small and Medium Sized Entities

In our last newsletter we examined some of the factors to consider when purchasing accounting software . This month we consider three common accounting applications available for use by small to medium sized entities (SMEs).

The first thing to consider when evaluating the various SME accounting applications is – what do you expect the system to achieve or deliver? For example if all you want to track are movements in your bank account, a cashbook will likely suffice. If however you are looking for an application to manage debtors, creditors and fixed assets, your system needs to be a fully integrated accounting package.

Three common accounting applications used by SMEs are:

  • BankLink
  • Xero
  • MYOB

A brief summary of each application follows.

BankLink
BankLink is a cashbook application that provides an electronic version of bank statement data. Click here to view the BankLink video.

As bank statement data is captured in electronic format it can be readily coded. Once data has been coded BankLink allows financial reports and GST returns to be easily produced.

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