Blog

Are you about to hire the first employees for your new business? Here are 5 key areas to think about when becoming an employer for the first time.

One of the best things about online shopping is instant, hassle-free payment. Enter your details, click, and you’re done. If your customers can make an instant online payment, they’re likely to pay you more quickly – and they’ll appreciate the simplicity too. The details Online payment methods include credit and debit cards, ACH (Automated Clearing House) services like Paypal, and repeat payments through direct debit. Payments are managed by merchant service providers – specialist companies that process transactions on your behalf. Some focus on credit and debit cards, while others stick to ACH or direct debit. Choose a provider that can integrate with your accounting software, and you can add a super-simple payment button to future invoices. The costs While your merchant service provider shouldn’t charge any set-up fees, they will charge transaction fees. These range from 2-4% of the invoice for debit or credit cards, and under $2 a transaction for direct debit. These fees are an added expense, so they need to be included in your profit calculation – smart accounting software will do this automatically. Because credit and debit fees can add up, many businesses don’t offer online payment for invoices over a certain amount. The benefits Businesses using online payments get paid faster. Of course, not every client will pay instantly just because they have the option, but it should speed up your average payment time. A bonus benefit? Customers appreciate the ability to pay online, so offering it as an option can be a big point in your favour.

Questions to Ask Now to Plan for the Year Ahead

From 1 April, several updates come into effect that will impact payroll, employment costs and compliance. Heres a clear overview of whats changing and what to check

Business insurance is a vital part of protecting your enterprise. We outline five of the most common types of insurance and how they safeguard the future of your business.

We’ve heard a lot about trade tariffs in the news. But what is a trade tariff and how could these customs taxes impact your small business?

Is big really better in business? Strategic smallness could be a major advantage for your Kiwi small business. We explore why.

Looking for someone to guide your entrepreneurial journey? Your accountant could be the mentor you didn’t know you needed.

The Christmas season can create payroll challenges, but understanding the rules can help you stay compliant. Annual Leave: By law, employees are entitled to four weeks of paid leave per year. To avoid last-minute staffing problems, set clear deadlines for leave requests. Holiday Pay : Employees must be paid for public holidays that fall on their regular workdays. Keeping up-to-date employee records and rosters ensures accurate payment. Christmas Closures : Plan ahead for any business shutdowns. You must provide at least 14 days' notice before a closure. If an employee doesn’t have enough leave, they must be paid 8% of their gross earnings since their start date or their last leave entitlement, minus any leave paid in advance if agreed upon. Cashing Up Leave : If it’s part of the agreement or you choose to allow it, employees may cash up to one week of annual leave each year. However, you cannot pressure them into doing so. Casual Workers : Casual employees should receive an additional 8% on top of their earnings instead of accruing leave, and this must be clearly shown on their pay slips. With careful planning, you can keep payroll running smoothly, allowing both you and your team to enjoy a stress-free holiday season. Feel free to reach out if you need any assistance or clarification.