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

View our May 2025 General Ledger: - 2025 Annual Accounts Questionnaires - Important Notices - The Fundamentals of a Business Budget - Xero Tip of the Month: How to Export and Back Up Your Financial Data - Reminder: KiwiSaver Government Contribution - Are you on track? - Tax Question of the Month: Case Study - Can This Family Claim the FamilyBoost Tax Credit? - IRD Upcoming Tax Payment Dates https://public2.bomamarketing.com/email/ZEAw

With household living costs soaring and no sign of a slowdown, it's more important than ever to take control of your finances. We've put together 12 practical tips to help you manage the rising cost of living — including ways to earn more, spend less, and invest in your future. Read the full blog here: https://www.aafl.nz/coping-with-the-skyrocketing-cost-of... Worried about money? Talk to us at 04 970 1182. We have years of experience navigating economic ups and downs — including previous periods of high inflation — and we’re always here to help.

Uncertainty can be a major threat to your financial planning strategy. Being unsure of what lies around the corner makes it difficult to make those important financial decisions around operational budgets, investment and growth funding.But by using forecasting and scenario-planning, you make it easier to manage your finances and reduce some of the financial uncertainty. Looking to the future with your financials Analysing your cashflow statements, profit and loss reports and quarterly management accounts gives you an indication of where you’ve been as a business. But these reports don’t tell you much about where you’re going, and what your financial future may look like. By looking forward, rather than backward, you can start to get a better idea of the landscape that lies ahead – including future cashflow, revenue, profits and operational budgets. Five key techniques you can use to reduce your financial uncertainty Cashflow forecasts: Cash is king, so having a detailed overview of your cashflow trajectory is vital. With cashflow forecasting apps, like Fathom, you can predict your cash availability and spot potential cash shortfalls – while there’s still time to plug the hole. By cutting expenses or seeking short-term funding, you can keep the business in a positive cashflow position. It’s this forecasting and foresight that keeps you trading, despite the uncertainty in the market. Revenue forecasts: Knowing the future patterns in your sales and revenue data helps you keep your income stable. Revenue forecasting apps, like Clari analyse your sales data, revenue trends and market shifts to anticipate fluctuations in your revenue. Armed with this future view of your potential revenue, you can adapt your pricing, invest in more marketing and make your income more consistent. Scenario-planning: There’s always more than one potential outcome of any business situation. Having a plan B (or C, D and E) allows you to understand the multiple potential possibilities – and plan for them. An app like Modana helps you model potential ‘what-if’ scenarios, so you can see the possible outcomes of an economic downturn or disruption to your supply chain disruptions. This kind of scenario-planning makes it easier to make contingency plans and mitigate the potential risks. Profit projections: Being a profitable enterprise is important for a number of reasons. It shows lenders you’re a low-risk borrower, allows you to invest in the business and drives your dividend payments. A tool like Teamwork helps you track your performance and estimate future profitability, factoring in variable costs, sales and market changes. This helps you determine your price point, drive cost-cutting measures or make investment decisions that keep the profits rolling in. Budget forecasts: Tracking and forecasting your budget performance keeps your expenses in check. Budgeting apps, like Jirav, help you build dynamic budgets and remain on budget to achieve your financial goals. Budget forecasts help you track your performance, control your expenses and cut any unnecessary spending, keeping you on track with your agreed budget. Making your financial future clearer and easier to navigate With so many ups and down in economic conditions and the costs of raw materials and labour, getting serious about financial forecasting really is a must. Come and talk to us about the key areas of financial uncertainty in your business – and find out how we can guide you through these uncertain times and out the other side.

Are your contacts in Xero getting a little out of control? If the answer is yes it might be time for some Xero housekeeping! Duplicate contacts can easily be merged. All the financial data is merged into a single contact, and the duplicate is then archived. This allows you to keep all contact information and related transactions together, instead of across multiple records for the same contact. When you merge duplicate contact records, no transactions are deleted (this includes invoices, bills, and other financial transactions). The transaction details are added to the activity details of the contact you keep. To merge two or more contacts: 1. In the Contacts menu, select All contacts . 2. In the search field, start typing the name of the contact you want to merge. 3. Once you are satisfied the contacts are associated with the same company, select the checkbox for each contact you want to merge. Do not select the contact you want to retain . Ensure that the contact you keep has the correct bank account details. 4. Click Merge , then click Confirm merge . The merged contacts will be archived and all associated transactions will be merged into the activity details of the contact you keep. Note: You can restore a merged contact if necessary by going to the Archived section (highlighted in the image below in the top toolbar). In this section, simply click on the contact and then click the Restore button located on the right-hand side of the page.