Take care of Yourself, Not Just Your Business
October 2, 2023
At All Accounted For, we know being a business owner can be stressful. When the buck stops with you, it can be easy to let the pressure mount up and to discount your own wellbeing.
But taking care of your own mental health is equally as important as taking care of the business – research showed that the majority of business owners suffer from stress and anxiety relating to the running of their business. So, what can you do to take care of your own mental health and work mindfulness into your usual life routines?
Ways to nurture your wellbeing as an entrepreneur
Looking after your mental health is as important as looking after your balance sheet. That’s the reality. So, having an improved focus on rest, wellbeing and talking about your struggles is a big part of moving towards becoming a better business leader.
For example:
- Don't overwork yourself
– it's tempting to work every hour that's available, in an attempt to meet your goals. But working yourself into the ground is, ultimately, a destructive thing to do. If you're tired and burnt out then you're in no position to lead the company. Try to stick to set working hours, and avoid working 60-hour weeks wherever possible. Sleep, rest and downtime are vital.
- Schedule time for non-work-related activities – make sure you have time blocked out for things that aren't work. That might be a walk in the countryside, time with your kids, or a game of tennis. The aim is to take yourself away from the stresses of the business and to give yourself a broader life outside the company. It's a chance to have fun, to relax or to be someone who isn't just 'the boss'.
- Take up an activity that promotes wellbeing – there are plenty of pastimes that can help you bring down your anxiety levels and bring you to a calmer place. Yoga is a good way to stay fit, but also an excellent form of relaxation. Equally, finding time for meditation helps you to empty your mind of business concerns and allow yourself to become more grounded and calm. Even something as traditional as a fishing trip could help you to chill out and relax, away from a screen.
- Talk about your worries, concerns and anxiety – if business-related stress is building up, the worst thing you can do is keep it all bottled up. It's beneficial to open up and talk about this anxiety. This could be with a partner, a fellow entrepreneur, your accountant or even a professional counselor. Be transparent about your state of mind and you’ll find people are more than willing to listen, understand and offer some support.
Talk to us about your business worries
As your accountant and adviser, we’re in the perfect position to help you open up about your business worries. We know your business and your sector inside out, and we know the common threats, challenges and goals that will be on your mind.
Come and talk to us about your business worries and let us take some of the weight off your shoulders. A chat can be the start of a whole new way of thinking about your own wellbeing. Give us a call today on 04 970 1182.
Want to take control of your business performance? We’re here to help you move from guesswork to clarity. Whether you're looking to grow, improve profitability, or simply get a better handle on your numbers - we’ve got your back. We’ll work with you to: Set clear strategic targets Track the numbers that matter Monitor the KPIs that drive real results Get regular insights and support along the way Our expert team will work closely with you to build a performance-focused plan tailored to your business goals. It’s not just about the numbers - it’s about using them to make smarter decisions. Ready to level up your business? Call us on 04 970 1182 to get started today!
Looking to reduce your carbon footprint but not sure where to begin? We’ve got good news. Thanks to Xero’s new partnership with Sumday, you can now access powerful carbon accounting tools - completely free for 12 months! Whether you're just beginning your sustainability journey or looking to enhance your current efforts, this is a great place to start. Sumday is a customisable carbon accounting platform that integrates with Xero, making it easy to track and report your emissions. With sustainability becoming an increasing priority for businesses, suppliers, and customers alike, this is a fantastic opportunity to kick-start your journey to net zero - without the stress or extra cost. All you need is an active Xero subscription. Simply connect to Sumday via the Xero App Store, and you’re good to go. This offer is available from 2 April 2025 to 1 April 2026. To learn more about this offer and to get started, visit: https://www.sumday.io/terms-and-conditions-xero
It’s great to be the boss - you can work any hours you like, right? Unfortunately, for many business owners, that means long hours, plenty of stress, and very few breaks and holidays. Gallup reported that 39% of the owners they surveyed worked over 60 hours a week. Owners often report they are unhappy with their work life balance, and after the challenges of the recent years you might find yourself thinking hard about your priorities. Running a business and having a life Can you run your business effectively and still have enough time left over to do the things you love? You’re the best judge of how much time your business needs, but don’t neglect your wellbeing. If you would like to take back some personal time, you could consider: Delegating – don’t try to do everything yourself. Saying no – not every project is worth taking on. Investing in systems – to reduce time on admin or paperwork. Taking all your leave – find ways to have breaks and holidays. Maximising technology - making sure your systems are all integrated, and using AI where appropriate. Working towards a balance If you really can’t work less right now, try to build your business with a better balance in mind for the future. It’s important that you can step back at some point to take a holiday, travel, or spend time with family. Being tied to your business for more than 60 hours each week isn’t a sustainable way to take care of your health and higher profits aren’t worth that sacrifice. Also, any business that doesn’t allow the owner to step away is very hard to sell and worth far less than one that can run independently! We'd love to help Whether you want to improve your work-life balance now, or build your business to achieve it in future, we have ideas. We’ve worked with plenty of clients who need to reclaim their time, and we know it can be done. Give us a call at 04 970 1182, drop us an email at admin@aafl.nz or come in for a chat - we’re here to help.
Great news! You can now upload multiple bills at once in Xero. Instead of uploading bills one by one, the Upload Bills feature lets you select and upload multiple files from your computer - or simply drag and drop them into Xero. This update makes managing large volumes of bills quicker and easier. To upload multiple bills: 1. In Xero, go to the Bills section. 2. Click the dropdown arrow next to the "New Bill" button and select "Upload Bills." 3. Choose the files from your computer or drag and drop them into the upload window. 4. Click "Upload Files"
View our June / July 2025 General Ledger: - 2025 Annual Accounts Questionnaires - Important Notices - How’s Your Work-Life Balance? - Xero Pricing Increase - 1 September 2025 - Xero Tip of the Month: Upload Multiple Bills at Once in Xero - Xero Assistance Programme (XAP) Ending 31 July 2025 - Welcome to the Team: Josh & Nik - Tax Question of the Month: Ring Fencing of Rental Losses – What Portion Can Be Claimed on the Sale of a Residential Property? - IRD Upcoming Tax Payment Dates https://public2.bomamarketing.com/email/xeGr
Owning a business can be incredibly fulfilling — but let’s be honest, it can also be mentally and emotionally draining. As accountants, we spend a lot of time talking about profit margins, cash flow, and financial forecasts. But today, we want to shine a light on you. Because your health and energy are just as important as your business’s financial performance. Burnout often doesn’t come with an obvious warning—it can sneak up in subtle ways, like: Trouble sleeping Feeling overwhelmed or stuck in making decisions Increased frustration or impatience Losing enthusiasm for things or people you used to enjoy The reality is, YOU are the heart of your business. Taking care of yourself is just as critical as balancing your finances. Step outside for a moment of clarity Don’t hesitate to ask for support when needed Give yourself permission to rest Remember, success isn’t just about the bottom line If you’ve been running on empty, consider this your reminder: it’s okay to pause and admit when things feel heavy. Rest is productive. Taking a moment to breathe and prioritise your health is never a step back — it’s part of the journey forward. And we’re here, supporting you every step of the way.
KiwiSaver Is Changing – Here’s What You Need to Know The Government has announced several updates to KiwiSaver as part of Budget 2025, aiming to improve long-term savings while adjusting who receives government support. These changes will affect contribution rates, eligibility for young people, and government contributions for higher-income earners. Contribution rates are increasing: From 1 April 2026, the default employer and employee contribution rate will rise to 3.5%, and again to 4% from 1 April 2028. Members will be able to apply for a temporary rate reduction from 1 February 2026 if they need to, in advance of the rate increase coming into effect. Employers will be able to match the rate reduction if they need to. 16 - and 17-year-olds will be eligible for more support: From 1 July 2025, young KiwiSaver members aged 16 and 17 will qualify for government contributions, and from 1 April 2026, they’ll also be eligible for employer contributions - helping them start their savings journey earlier. Government contributions are being scaled back: From 1 July 2025, the annual government contribution will be halved, and it will be completely removed for individuals earning over $180,000 in taxable income. For more information and full details, visit budget.govt.nz
A business budget is one of the essential tools in managing your finances and actively building your business. A budget shows what you plan to do with your cash over the next year. For a complete picture of your business health, you need to review the profit and loss statement, the balance sheet, the cash flow forecast and the budget. Taken together, these reports allow you to make informed business decisions and monitor performance. Why have a Budget? Forecast sales and expenses according to monthly or quarterly variations. Evaluate performance over time, including changes or patterns. Get really familiar with where your money goes and where it comes from. Clarify targets and goals and use the budget to help you focus and achieve those goals. Comparing actual figures to budgeted figures allows you to see potential problems early and plan for unexpected costs. A budget will help you to see the big picture and stay motivated over the long term. Where to start A basic budget takes known income and expenses, then makes certain assumptions about the timing of income and planned expenditure. The basic budget is based on cash in and out of the business. Over time, as you start to see the benefits of using a budget, your budget should evolve into a more sophisticated version that includes non-cash elements such as provisions and depreciation. Most businesses will start with one budget but soon move to having three budgets: Business as usual – the next year’s budget is based on current year income and expenses, with perhaps a small adjustment for consumer price index increases. Worst case – budget is based on a pessimistic view of next year’s performance. Best case – budget is based on an optimistic view of performance over the next year. A budget is usually for a financial year, but you can also set up budgets for two to five years. Once you have one budget (or more) set up, you can then run your current financial reports against the budget to see how you are tracking. This allows you to make rational business decisions in real time to adjust accordingly. Your can run your financial reports monthly and adjust your budget as needed. What Next? Now is a great time to put a budget into place for the coming financial year. Book a time with us to help you create a meaningful budget in your accounting software so that you can use it as a proactive part of your business management, strategy and your success.
When it comes to your financial data, you can never be too cautious! While Xero is a cloud-based platform with strong security measures, it’s always a good idea to back up your financial data regularly for peace of mind. Regular exports of important reports and transactions can serve as a safeguard against any unforeseen issues. Although Xero doesn't have a built-in backup feature, you can manually export your data to store it on your local device or secure cloud storage. Alternatively, you can use third-party apps to back up your Xero data, such as: Coupler.io: This app automatically exports data from Xero to spreadsheets, data warehouses, and BI tools. You can set the refresh interval to daily, monthly, every hour, every 30 minutes, or every 15 minutes. Xportmydata: This app automatically backs up your Xero data on a weekly basis. You can also use Xportmydata to export your Xero data to Excel, download attachments, and create CSV import files. Both of these apps are available for download from the Xero App Marketplace. Manual Exporting: If you prefer to export your data manually, Xero doesn’t have a feature to copy all your school's data at once. However, you can export data from specific sections and generate reports individually. Your ability to export data depends on your user role in Xero. If you have the adviser role, you can run and export most reports. However, to export payroll reports, you need payroll admin access. To learn more about how to export your data manually, visit: https://central.xero.com/s/article/Export-data-out-of-Xero
