Great news! Xero’s fixed asset section just got an upgrade! You’ll now enjoy a cleaner, more accessible, and responsive interface - making it easier than ever to manage your assets. All the familiar features are still there, and you can now attach files directly to your fixed asset records for improved documentation and tracking. How to Attach a File: Navigate to Fixed Assets: In the Xero accounting menu, select "Fixed assets". Open Asset Details: Click on the asset number to view the asset details. Attach Files: Click the "Attach files" button located on the right hand side of the page. Upload or Drag and Drop: You can either click "Upload files" to select a file from your device or simply drag and drop a file into the upload area. Attachments could be a copy of the bill or a photo of the asset. Save Changes: Click "Save as draft" or "Register" to save the changes. Extra tip: You can also attach files to assets that have already been registered - making it even easier to keep your records accurate and up to date.

View our October 2025 General Ledger: - Closing a Business: A Step-by-Step Guide for Business Owners - Important Notices - Halfway Through the Tax Year - How Is Your Business Tracking? - Xero Tip of the Month: Attach File Now Available in New Fixed Assets - Welcome to the Team: AJ & Zack - Tax Question of the Month: Are Repair Costs for an Inherited Run-Down Rental Property Tax Deductible? - IRD Upcoming Tax Payment Dates https://public2.bomamarketing.com/email/L33b

Making time to look over your financial reports each month is an important task for any business owner. If you are not taking time to do this, either because you’re too busy, or perhaps you don’t really understand what you’re looking at and it doesn’t make sense to you, then here are 6 reasons we recommend you should start to. But before we get our 6 reasons, let’s talk very quickly about which reports to look at. At a bare minimum, and depending on the complexity of your business, you should be looking at the following: The Statement of Financial Performance - also known as the Profit and Loss report (P&L) or the Income Statement – tells you, as the name suggests, how your business is performing over a period of time, such as a month or a financial year. In broad terms it shows the revenue that your business has generated, less the expenses for that same period. In other words, it shows how profitable your business is. The Statement of Financial Position - also known as the Balance Sheet shows the value of the business’s Assets, Liabilities and Equity. Assets include things like money in bank accounts, Plant and Equipment, Accounts Receivable balances Liabilities include things like Bank loans and credit cards, Accounts Payable, and Hire Purchase balances Equity is the difference between your Assets and your Liabilities and includes Retained Earnings and Owner Funds Introduced Accounts Receivable Ageing report (Aged Receivables) - this shows how much money is still owed to the business as at a certain date in time, and is usually segmented as to how overdue they are, or sometimes by how far past the invoice date they are. Generally, you will have Current, 30, 60 and 90 days columns. Accounts Payable Ageing Report (Aged Payables) - this report shows who the business owes money to as at a certain date in time and, like the Accounts Receivable Ageing report, is usually segmented by overdue period. So why bother? Understand your business better - by looking at your Profit and Loss report monthly you will get a good picture of how your business is performing month by month and it gives you a better understanding of what makes up your profit. It can be helpful to compare periods, or to look at a month by month P&L, so you can clearly see on one page the revenue and expenses month by month. This also helps identify trends in your data and many also help to highlight anomalies in coding/categorising or unusual expenses or earnings. Accurate information for lending purposes – If you are applying for a loan or an overdraft, the bank or financial institution will look closely at both your Profit and Loss report and the Balance Sheet as a lot can be learned about a business by looking at these reports together. If you are unsure what some of your balances are in your accounts, get in touch and we can explain them further. Get paid quicker and reduce bad debts – by looking at your Accounts Receivable Aged Summary each month you can follow up with overdue accounts promptly which often results in getting paid quicker. The longer an overdue amount is left unpaid the higher the risk of it not being paid at all, so it is important to keep on top of this. Better relationships with your suppliers – Assuming you are entering your supplier bills into your accounting software (recommended for most businesses to get an accurate profitability figure) your Aged Payables report will alert you to any unpaid or overdue amounts. Supplier relationships are an important aspect of your business and paying on time is crucial to maintaining those relationships. Better cashflow – having an accurate understanding of how much money the business is owed, and how much money the business owes, can help with cashflow planning to ensure that there is enough money when needed. Additionally, understanding the trends of your business, its profitability drivers, its expenses, etc., can help to plan sales and marketing campaigns so that the revenue keeps coming in. Better business decision making – Your financial reports tell the story of your business and it’s important that you understand the story that they are telling you. The better you understand what’s going on in your business the stronger position you will be in to make better business decisions that affect the profitability of your business and its financial viability. If you would like to know which reports are relevant to your business, and you want to better understand what’s going on in your business, give us a call on 04 970 1182 so we can make a time to go through them with you. Your business success is important to us and we are here to help you.

As you may be aware, Xero has been working hard on a refreshed navigation and homepage (formerly known as the dashboard) to deliver a faster, cleaner, and more intuitive experience. The first stage - featuring the brand-new navigation - is set to launch sometime this month (September)! Here are the main updates you’ll spot in the new layout: Dedicated Sales and Purchases sections - no more digging around, everything you need is right where you’d expect it. Reports made simple - key insights are now just one click away, helping you stay on top of your numbers faster. Streamlined settings - settings are now visible across all menus, plus there’s a centralised page to keep everything organised. Smarter right-hand panel - this new hub gives you instant access to JAX (Xero’s new AI business companion), search, help, notifications, and apps - wherever you are in Xero. This revamped system helps you find what you’re looking for faster, move smoothly between tasks, and get even more value from your Xero subscription. The refreshed homepage (previously the dashboard) will launch later this year, bringing customisable widgets to give you quicker, more personalised business insights. We’ll keep you updated on when these changes go live. As Xero Platinum Partners, we’re already up to speed with the new navigation and ready to help you make the most of it. Whether you want a quick run-through, some training for your team, or simply reassurance that everything is where it should be - we’ve got you covered. If you need a hand, give us a call on 04 970 1182.

View our September 2025 General Ledger: View our September 2025 General Ledger: - 6 Powerful Reasons To Watch Your Financial Reports - Important Notices - Xero Tip of the Month: Xero’s New Navigation Refresh Coming Soon! - Audit Shield Insurance - Protect Yourself from a Tax Audit - Welcome to the Team: Breanna & Rachelle - Tax Question of the Month: What Happens to GST on Assets You Bought Before Registering? - IRD Upcoming Tax Payment Dates https://public2.bomamarketing.com/email/znK4

Thinking about selling your business? Whether you're ready to retire, change direction, or chase your next big idea - selling your business is a major milestone. And like any big move, preparation is everything. Here’s how to make your business more attractive to buyers - and get the best return: Get your numbers in order: Buyers want clarity. That means up-to-date books, clean financials, and a solid forecast. When your numbers tell a clear story, your business becomes more valuable and more trustworthy. Make your business easy to take over: Show potential buyers that your business runs smoothly, has reliable systems in place, and room to grow. A clear operational plan and documented processes make your business more appealing - and easier to hand over. Work with experienced advisors (That's us!): Selling a business can be complex, but you don’t have to do it alone. The right guidance helps you avoid costly mistakes, make informed decisions, and stay one step ahead. At All Accounted For, we help business owners get sale-ready with clean, well-organised financials and a clear understanding of their business’s true worth. With our support, you can move forward with confidence and clarity. Ready to take the first step? Call us on 04 970 1182 to book your appointment today.

Creating a mentally healthy work environment isn’t just a “nice-to-have” - it’s a crucial part of building a successful, sustainable business. Yet, when you’re juggling countless responsibilities as a business owner, it’s easy to put mental health on the back burner. This is a gentle reminder of why fostering mental wellbeing at work benefits everyone - from your employees to yourself: When people feel mentally supported and valued, they’re better equipped to manage daily stresses, stay motivated, and maintain positive relationships with colleagues. This not only boosts productivity but also creates a more collaborative and enjoyable workplace. Taking time to care for your own mental health as a leader sets the tone for your entire team. Your wellbeing influences your decision-making, creativity, and resilience, which directly impacts your business’s success. Investing in mental health isn’t just good for people, it’s smart for business. Let’s prioritise wellbeing as an essential part of our work culture, helping everyone thrive both personally and professionally.

For many SMEs, recurring subscriptions are one of the sneakiest money leaks. They’re small, automatic, and easy to forget - until they quietly add up to thousands each year. Now’s the perfect time to do a quick subscription audit. Look out for: Duplicate subscriptions Outdated software plans Auto-renewals you didn’t notice Tools your team no longer needs These little costs can seriously stack up. A 15-minute check might save your business hundreds - even thousands - every year. If you’re getting value from every subscription, that’s great! But in our experience, most businesses are paying for more than they use. Not sure where to start? We’d be happy to help you review your expenses and sharpen your spending. Get in touch today - your bottom line will thank you!