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Welcome to the Vision Accounting e-newsletter for May 2016. This is a great way for us to share important information you need to know, helpful tips and hints and practical resources to help you in business for 2016.  
 

What’s very important?

Health and Safety Law Changes

Are you prepared for the new Health & Safety Changes? Herewith some very important points.

The Health and Safety at Work Act 2015 came into force on 4th April.  Here’s what you need to know to ensure your business is compliant with the new Act.
The major changes affect all businesses regardless of your industry, impacting business owners, directors and senior managers.  The Act is far reaching and also affects rental property landlords, volunteer organisations and incorporated societies.

If you haven’t already done so, take appropriate steps now to ensure you and your place of work is compliant with the Act.
  • If your company is in a high risk industry or has more than 20 workers, you are now required to establish work groups and facilitate the election of Health and Safety representatives if requested by workers.
  • Ask workers about any Health and Safety risks and hazards they are aware of. Get their advice on how to minimise or eliminate them.
  • Involve and consult with workers on Health and Safety matters. Consider their views and provide reasonable opportunities for workers to participate in improving Health and Safety in the workplace.
  • As a director and business owner you need to be proactive in understanding risks and hazards in your place of work. Risks and hazards identified could include ensuring working hours are safe, considering worker fatigue for shift and night work and also risks associated with workers not following instructions.
  • Consider and invest in resources to meet your obligations for training of officers and workers, gaining expert and/or specialist information on risks and keeping updated on Health and Safety requirements.
  • Add Health and Safety as an agenda item to all management and board meetings.
  • Ensure your Health & Safety policies address all risks and hazards identified.  These policies need to be sound and regularly reviewed to ensure ongoing compliance. Training should also be provided in relation to the policies.
  • If required, take advice from Health and Safety specialists. A number of industry organisations and groups have experts who can help.
  • Landlords now have a primary duty of care for the safety of all persons on their property meaning they are now responsible to ensure the property is “without risks to the health and safety of any person”. It is the owner’s responsibility to hire a suitable contractor who must be licenced.
For more information on the Health and Safety changes please visit the Worksafe website.

What you need to know

Payroll News

Still using ‘OLD SCHOOL’ DESKTOP - NON INTERNET BASED PAYROLL?
 

iPayroll makes it easy to change

Some small businesses are still using desktop software (i.e. not internet based) or manual systems.
Whilst these may work for you as you have always done payroll that way, it’s important to embrace technology move from old school ways and make your life easier.
Vision Accounting are pleased to be a Partner with iPayroll.

iPayroll is New Zealand’s premier online payroll provider and allows you to manage your payroll anywhere on your PC, tablet or phone. iPayroll is NZ’s largest IRD listed PAYE Intermediary and can pay your staff and manage PAYE for you. It has seamless integration with XERO, plus they have a FREE help team.

Many employers may not be aware of compliance issues and their leave management or their knowledge not current. Relevant daily pay, Average daily pay, are payroll language that iPayroll makes easy. Employers need payroll/leave management tools that are user friendly to assist them in their business.

iPayroll provides an online leave management service. The leave approver is made aware of requests by email and goes online to approve. Then the leave will be applied automatically when the relevant pay is processed. Easy to use and ensures that agreed leave is not overlooked being entered into your payroll.

iPayroll make it easy to change, they can come out and show you how it all works so you can compare it to what you currently using. A real plus is that by being a client of Vision Accounting means you receive

Special Discounted pricing.  GET A FREE TRIAL. www.ipayroll.co.nz or contact us for more information.

Sharing news from my clients with my clients

Why you should hire a property manager

This article was written by our client Mark Greenslade of Mortgage Express, and is extremely topical.

If you've ever owned a rental property, you’ll know that it can be financially rewarding. At the same time, you’ll probably also know that owning a rental property requires a great deal of commitment in terms of time and effort. While it makes sense to take care of the day-to-day management of your rental property yourself if you live close by and you have time to spare, in many cases it just isn’t practical. Here are some reasons why you should hire a property manager.
 

Setting rental prices

Combing through the classified listings for rental prices is a good place to start. But a property manager will have conducted market studies and will have a far better understanding of the optimum market rental price, ensuring that you achieve the perfect balance between maximising your rental income and reducing your vacancy rate with good tenants who will stay longer.
 

Collect deposits and rent payments

Collecting payments from some tenants can prove challenging and many landlords feel awkward having to chase up on late or outstanding payments. A property manager has efficient systems in place to collect rent on time and to deal with late-paying tenants, particularly valuable if you’re relying on a consistent cash flow to manage your own mortgage payments.
 

Marketing and advertising your property

In order to fill your property quicker with tenants who will stay longer, a property manager will know exactly where best to market your property and how to create a compelling advertisement. A property manager will also screen any potential tenants and take care of the details, including criminal background and security checks, credit history checks, and verifying employment and references.
 

Managing tenants

As well as finding good tenants, a property manager will handle all aspects of the tenant-landlord relationship. Any routine or emergency maintenance, property inspections and any situations where conflicts may arise are handled by a property manager, saving you time and headaches. And because a property manager will have established relationships with preferred suppliers like plumbers and electricians, they’ll arrange for any repairs to be done at the best possible price, saving you money.
 

Ensuring you’re compliant with regulations and property laws

With the multitude of property laws and regulations around tenanted properties, it’s good to know that a property manager will check and confirm that you’re in compliance with any important regulations.
 

Manage properties in other areas

One of the biggest advantages to engaging a property manager, is having someone take care of your rental property in other regions. That means you can take advantage of buying and owning a rental property in areas that may be more affordable or provide a better return on investment, even if you’re nowhere near.
 

Saving you time and money

Many property owners are hesitant to hire a property manager, believing it’s expensive and unnecessary. A property manager will take care of the day-to-day management of your rental property and generally charges a percentage of your property’s rental price. Because a property manager screens all potential tenants and manages rent payments to you, you’ll get better tenants who will stay longer and you’ll have less damage and repairs to deal with. In the long run, you’ll make more money and save time not having to do these things yourself.
 

Invest in property

If you haven’t already considered buying a rental property, now may be a good time. With interest rates the lowest they’ve been, the financial rewards from an investment property may well be worth further investigation. If you’d like advice or assistance with finance, get in touch with Mark Greenslade on 021 444 575.

Introducing a wonderful property manager

Julliette Henderson of All About Property Management. Julliette provides a boutique service, her clients are her most important assets so they are treated like VIP.
Julliette is an experienced property manager who has managed over 500 properties, so you can rest assured your property management is in the very best of hands. Julliette can be contacted on 021 0555 712, or via email info@allaboutpm.co.nz

and a great Mortgage Broker

Mark Greenslade
Mortgage Express
Mobile: 021 444 575
Office: 0800 226 226
Email: markg@mx.co.nz

Ask us a question

Have you got an accounting question that leaves you worried or confused?


We love a challenge – see if we can come up with the answer that gives you the ‘ah ha! moment'.

Contact Virginia at Vision Accounting NOW on 09 415 0319

Remember

We offer the service of a one on one meeting to review your financials and help set you up for a strong 2016.
This one meeting can make a huge difference to the cashflow and profit of your business.

If you would like to schedule a business review meeting, or have a no-obligation chat – we’re happy to help.     

Thanks, and have a great month,
Virginia and the team at Vision Accounting

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Contact Us

Tel: (09) 415 0319
Email: admin@visionaccounting.co.nz
Web: www.visionaccounting.co.nz
Physical Address:
106A Bush Road, Albany, Auckland
(When posting documents please use the PO Box address, as there is no mail delivery to our street address. Thank you.)
Postal Address:
PO Box 303 157
North Harbour
Auckland 0751