What is book keeping and do I need book keeping in my business?

Book keeping is simply keeping a day-to-day record of your business transactions. With good book keeping you can keep track of your sales, income, purchases and payments. Book keeping will also save your business money on your tax agent or accountants bill.

What are the benefits of have a registered tax agent as a book keeper?

  1. It saves you time. A lot of business owners try to be a book keeper and do their own book keeping. This costs them valuable time. It is normally more profitable for a small business owner to work in their business than spending their time in the book keeping roll.
  2. You won’t have any problems with the New Zealand tax agency or IRD and a tax agent deals with them directly and meets all their standards.
  3. If Your book keeper is a tax agent they can offer you other tax services that will help your business be more profitable.

So what does a book keeper do and how do I pick a good book keeper?

A good book keeper will keep records of all your day today to transactions so for each day or week you know how many sales and purchases your business has made and how much they are for.

A good book keeper can do it all. They will be registered tax agents and have a detailed knowledge on New Zealand tax. This means they can offer you all the same tax services as an accountant normally at a fraction of the price.

What would happen to me if I don’t keep accurate book keeping?

There are only two reasons you have a book keeper or tax agent do your books.

  1. It is required by the New Zealand tax department or IRD and you can be asked for your records at any time. If you are unable to supply them with accurate book keeping records you will be fined and can even be imprisoned.
  2. So at a glance of your books, you know the exact financial position of your business and can make educated business decisions.

Do you need book keeping or tax services?

We are the New Zealand tax agents that are here when you need us. We offer our book keeping and tax services to all types and sizes of businesses. We can even send a bookkeeper in to your office or place of work if it is more convenient for you.

All of our book keeping and tax services are compliant and completed by a registered New Zealand tax agent