March 5, 2024

March 2024 - Inside this issue

Annual Records Training

The end of the financial year is nearly here and we will be sending out the new engagement letters requesting your 2024 Financial Year records. As always, we will have a custom checklist for each of you with a list of everything you need to provide.

We understand this can be a daunting task, so we are scheduling a free training to go through the best way to collect the information we need as well as explain why we need it.

This training will be delivered both in our office and online, Tuesday 19th March at 10am until 11.30am.

Please register your interest to attend.

Register here

Xero Tips and Tricks

One of the biggest mistakes made when coding your Xero is not separating out the withholding tax paid on the income. If not separated out, then the income and tax will not be correct, and you will be reporting it incorrectly to the IRD.  

If your employer pays your withholding tax, or your bank deducts withholding tax from any income, you will need to capture this when coding.

Here are two step by step guides on how to code withholding tax in Xero:

Coding withholding tax on self-employed income

Coding withholding tax on interest income

Scheduling March 2024

We are in the process of finalising the scheduling for the March 2024 accounts.

If you are on a Monthly Instalment Arrangement (MIA), a new MIAs for the 2025 Financial Year are being issued this week. The engagement letter will also have the month your accounts are scheduled to be completed.  If you are not currently on an MIA and wish to change to a monthly fee, please email here.

For our time and cost clients, engagement letters will be issued later, closer to the date your accounts are scheduled.

If you have a preference to when your accounts are scheduled due to busy periods, holidays, funding or anything else please contact us asap here.

Please read through your engagement letter, once signed, your checklists will be emailed to you and you will be able to book in your checklist meeting. Engagement letter will be emailed via DocuSign.

We are encouraging all clients to arrange a checklist meeting prior to getting your accounts in. In this meeting, we will take you through the checklist, explain each request and the best way to provide this information. By booking this meeting, we aim to reduce any follow up required for missing information.

Please find instructions here on how to save and file your end of year records to your Xero software.

Important Tax Dates

The Tael 2024 Tax Calendars are available from our website here or you can collect one from the office.

Upcoming Tax Dates:

8 April 2024 – 2023 Terminal Tax is due for payment to the IRD.

7 May 2024 – 3rd Instalment of 2024 Provisional Tax is due for payment to the IRD.

If you have any questions or concerns for us, please don’t hesitate to get in touch with us.



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Closeup of an IRD form with a calculator, a pen, and 3 small wooden blocks with the the letters TAX on each