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.
The start of a new financial year is an important milestone for businesses and individuals alike. It marks the close of one chapter and the beginning of another - providing a fresh opportunity to refocus on your financial goals, strengthen your planning, and set the tone for the year ahead. While much of the attention around the financial year focuses on completing tax returns and finalising accounts, the beginning of a new financial year is equally important. It’s the ideal time to review your financial position and start the year with a clear strategy in place. A Fresh Start for Your Finances The new financial year offers a clean slate. It’s an opportunity to assess what worked well over the past year and consider where improvements can be made. Whether it’s refining your budgeting processes, improving cash flow management, or reviewing your business structure, small adjustments early in the year can have a significant impact over time. Set the Direction for the Year Ahead Starting the year with clear financial goals can help guide your decisions and keep your business moving in the right direction. This may involve planning for growth, managing costs more effectively, investing in new opportunities, or building stronger financial reserves. Taking the time to outline your priorities now can help ensure your financial decisions throughout the year align with your long-term objectives. Stay Ahead of Changes Each financial year can bring updates to tax rules, reporting requirements, and employment obligations. Staying informed about these changes helps ensure you remain compliant and prepared. Our team closely monitors any developments that may affect you or your business and will continue to share relevant updates and guidance throughout the year. Working Together in the 2026-2027 Financial Year Ahead As your accountant, we’re here to support you throughout the financial year, not just at year-end. Regular communication and proactive planning can help ensure you stay on track, remain compliant, and make informed financial decisions as your business grows and evolves. If there are any changes in your business, upcoming plans, or financial goals you would like to discuss, we encourage you to reach out to our team. The earlier we understand your plans, the better we can help you plan effectively and identify opportunities along the way.
Did you know you don’t have to manually calculate due dates for each invoice? Here’s an easy Xero tip that many users overlook, but once you start using it, you’ll wonder how you ever lived without it. When you’re entering a due date on an invoice, you don’t need to stop and calculate the exact date based on your payment terms. Instead, Xero allows you to use quick shorthand to do the work for you. Simply type shortcuts like “+7” , “+14” , or “+30” into the Due Date field, and Xero will automatically convert that into the correct calendar date. This is especially helpful if you work with different payment terms for different suppliers or if you’re batching a large number of invoices at once
View our April 2026 General Ledger: - Planning for Success in the New Financial Year - 2026 Annual Accounts Questionnaires - Making Every Litre Count: Practical Fuel-Saving Tips for Your Business - Are You up to Speed With the Recent Changes to Fringe Benefit Tax (FBT)? - Xero Tip of the Month: Save Time With Xero’s Invoice Due Date Shortcuts - Tax Question of the Month: Case Study - Simplifying Tax in the 2026/27 Financial Year - IRD Upcoming Tax Payment Dates https://public2.bomamarketing.com/email/MQDQ
Running a trade business is rewarding, but it comes with its own set of challenges. From juggling multiple jobs to managing staff, materials, and client expectations, keeping your finances in check can easily take a back seat. That’s where we come in. At AAF, we specialise in helping tradies take control of their finances and grow their business with confidence. We know the trade industry inside out, so we understand what matters most to you. Here’s how we help tradies thrive: Cash Flow & Profit Tracking - Know exactly where your money is going and keep your profits healthy. Tax & Compliance Made Simple - Stay on top of obligations without the stress. Smart Business Planning - Plan for growth, new equipment, or additional staff with confidence. Time-Saving Tools & Advice - Get systems in place that free up your time for the work you love. Friendly, Practical Support - Jargon-free advice whenever you need it. Whether you’re a builder, plumber, painter, or any other trade professional, we help you spend less time on paperwork and more time on the tools, while making sure your business is financially solid. Talk to us today and discover how your trade business can work smarter, grow faster, and remain profitable.
Positive cashflow is the heartbeat of any successful business - but with rising costs and unpredictable revenue, keeping on top of it can be challenging. That’s where cashflow forecasting comes in. By projecting your cash inflows and outflows into the future, you can: Spot potential cashflow gaps before they happen Plan costs and stick to your budgets Make informed decisions about reinvesting in your business The result? No more "end-of-month" surprises. A robust forecast doesn't just show you the numbers; it gives you the clarity to navigate the year ahead without the guesswork. Whether you’re looking to weather a quiet period or gear up for growth, we’re here to help you map out the path. Ready to get a clearer view of your financial future? Call us on 04 970 1182 or flick an email to admin@aafl.nz to chat about how we can build a custom cashflow forecast for your business.
Archived accounts in Xero help keep your Chart of Accounts tidy, but they still retain balances and appear in historical reports. If overlooked, they can quietly create discrepancies in your Profit & Loss or Balance Sheet. Regularly reviewing archived accounts ensures all balances are intentional and coded correctly, giving you confidence in your reporting and helping year-end processes run smoothly. How to review archived accounts in Xero: Go to Accounting → Chart of Accounts . Click the Archive tab to view archived accounts. Check for any balances or transactions. Unarchive accounts if adjustments are needed, then re-archive once correct. A quick monthly check helps prevent surprises and keeps your financial reporting accurate, reliable, and stress-free.
View our March 2026 General Ledger: - 2026 Annual Accounts Questionnaires - Terminal Tax Reminder - Due 7 April 2026 - Important Payroll Changes Effective 1 April 2026 - Xero Tip of the Month: Review Archived Accounts Before Year-End - Tax Question of the Month: Shareholder Salaries vs. Drawings - IRD Upcoming Tax Payment Dates https://public2.bomamarketing.com/email/XL4r
As an employer, it’s important to stay informed about upcoming changes that affect payroll, employee entitlements, and contributions. From 1 April 2026 , there are several key updates to the minimum wage, ACC Earner Levy, and KiwiSaver contribution rates. Below is a summary of these changes and what they mean for you and your business, including the actions you may need to take to ensure compliance and manage the impact on your payroll and cashflow. 1. Minimum Wage Increase: The Adult Minimum wage is increasing from $23.50 per hour to $23.95 per hour The Training and Starting-Out Minimum wages are increasing from $18.80 per hour to $19.16 per hour What this means for you: If you have any employees on Minimum Wage you will need to ensure their pay rate is updated from 1 April 2026. Also check any salaried employees meet minimum wage requirements by taking salary divided by actual hours worked. For someone on salary that is close to minimum wage, this is a check that is required each pay if irregular hours are worked. 2. ACC Earner Levy Increase: The ACC Earner Levy rate is increasing from $1.67 to $1.75 per $100 of liable earnings. These amounts are inclusive of GST. The maximum liable earnings threshold increases to $156,641. What this means for you: Your payroll software should automatically update (but it always pays to check with the software team). Your employees may notice a small change (reduction) in their take home pay due to this change. 3. KiwiSaver Contribution Changes The minimum / default KiwiSaver contribution rate is increasing from 3% to 3.5%. This relates to both Employer contributions and Employee contributions. Temporary Rate Reduction: Employees can apply for a temporary rate reduction from 1st February 2026 if they want to carry on contributing at 3% from 1st April 2026. They can apply for the temporary rate reduction for a 3 month to 12 month period, and they can apply as many times as they like. The Temporary Rate reduction can be applied for through their myIR account. More details can be found here Employers can choose to match the Employees temporary rate reduction, moving the Employer contributions down to 3% to match, but they can also choose to stay contributing at 3.5%. What this means for you: Again this change will impact on your wage expenses, so check in on your cashflow planning and how this may impact. Future planning: From 1st April 2028 the minimum/default KiwiSaver contribution rate will increase again to 4%
Cashflow is the lifeblood of every business. Even profitable companies can run into trouble if money isn’t coming in fast enough to cover day-to-day expenses. Delayed payments from clients, unexpected costs or overstocked inventory can all put pressure on your cash position and that stress can keep even the most experienced business owners up at night. The good news? With some proactive planning and smart strategies, you can take control of your cashflow and protect your business. Here are five practical tips to help you do just that. 1. Give your accounts receivable a boost Invoice your client as soon as the job is completed, or consider invoicing in instalments once key milestones are reached. Also, make sure you have strict payment terms in place. 2. Negotiate longer payment terms Talk to your suppliers to negotiate 30 or 60-day payment terms. This delays payment for your most common overheads, helping you spread the cost over a longer period. 3. Always have a cash reserve in place Putting surplus profits into a cash reserve gives you a buffer to draw on when cashflow is challenging. This can be a great way to get through quiet periods or cover unexpected costs. 4. Make the most of your cashflow forecasting tools Use the cashflow tools in your accounting software or forecasting app to create a rolling cashflow forecast. This helps you spot the potential cash shortfalls and budget accordingly. 5. Keep a close eye on inventory levels Review your inventory levels and warehouse stock to make sure capital is not tied up in slow-moving stock. Think about a leaner approach that reduces your costs. More helpful advice on managing your cashflow: If your current cashflow position is worrying you, come and talk to our team. We’ll give you tailored advice on how to boost your cash inflows and reduce your cash outflows. Call us today on 04 970 1182.
