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FAQ

Do Business Pillars have bookkeeping and accounting services?

Business Pillars provide Bookkeeping, Payroll, and Accounting. We are fully certified with accreditation by major software providers - XERO, MYOB,NZ Institute of Bookkeepers, and partnered with Smart Payroll and Crystal Payroll.

How to get started with Business Pillars?

You will need to call us. We offer one free consultation before you decide, with no obligations. Use this link Your Free Consultation

How Business Pillars accounting services help small businesses?

We believe in thinking differently and in challenging the status quo. It is about creating a 'wow'! Everything we do for you nurtures that spirit and produces inspired results. We are passionate about small businesses. We understand them; we get them. We love working out what makes businesses tick and how we can improve them. We love doing business with positive, fun-loving people. Our Kiwi culture revolves around loving what we do, so naturally, we love having fun while we do it.

Why should clients choose Business Pillars?

We are the pillars of your establishment to help overcome any situation. We will empower and support you to work smarter, not harder, for your establishment. We will ensure you every success along the way.

Difference between Bookkeepers and Accountants?

You may wonder that a bookkeeper can do an accountant's job at a reduced cost. There are two distinctions between them:-

WHO IS A BOOKKEEPER?

Bookkeepers record all transactions, process invoices, follow up on non-payers, reconcile bank statements, manage Payroll, do GST returns, and maintain a general ledger; these are just a few responsibilities. A good bookkeeper will keep you updated with accurate numbers whenever you need this information.

Some bookkeepers do also work as tax agents to submit GST and PAYE returns for their clients but don't do income tax. A bookkeeper has enough knowledge about NZ tax law to code your transactions, claim every deduction possible, and ensure that your income tax bill is reduced as low as possible.

WHO IS AN ACCOUNTANT?

While you could be in contact with your bookkeeper often, you will be talking to your accountant at year-end when it's time to submit your business or personal income tax returns and during the year if you need direction or training. Guidance is the keyword here – accountants provide an advisory role. The accountant uses the information recorded by the bookkeeper to see the bigger picture and help you make a realistic assessment.

BOOKKEEPERS AND ACCOUNTS BUILD A GREAT TEAM TOGETHER

Are Bookkeeping and Payroll services the same?

Bookkeeping and Payroll are not similar services since the process is different.

Payroll records the payments made to the employee, which are updated in the books of accounts. The information is then transmitted to IRD. Payroll also has different calculations for leave. These records must be archived for seven years.

We have also partnered with Smart Payroll and Crystal Payroll. The integration of one of these software can be quickly done.

How to claim for Accident Compensation (ACC in New Zealand)

ACC is a payroll function. We can help you to pay your employees correctly and at the same time fulfill all legal compliances.

What are the Bookkeeping software used at Business pillars?

We are certified with XERO and MYOB. Depending on the client's choice, we include one of the software in the package price.

What is the right accounting software required?

Xero is aneasy cloud-based accounting program best suitable for small businesses – it is difficult to manage more critical business processes.

In contrast, MYOB Advancedis a complete cloud Enterprise Resource Planning solution that provides robust, cohesive, and end-to-end business management.

 

When it comes to giving your business the best tools to succeed, the consensus is that an accounting software package is for you if you are a small business. And if you are a big business, you should go with an Enterprise Resource Planning solution like MYOB Advanced. Unfortunately, there are no longer such easy differences between the two software solutions. Xero and other accounting software companies imply that their products can do the same as the Enterprise Resource Planning system.

Please be aware that we will solely focus on what each product does on its merit for this comparison and cost.

How can accounting services help in decision-making?

Numerous reports can be extracted from the software chosen since the client has access too. On partnering with Business Pillars, additional information is provided that is not available in the selected software. These reports are in add-on to the Monthly or Quarterly advisory, depending on the service requested. These reports enable the clients to make corrective decisions.

What are the best accounting packages Business Pillars are offering?

You are most welcome to call us, and we will prepare a tailored plan for you. We will discuss the plan before preparing it and emailed it to you. The prepared plan is based on the scope of work requested, on the number of bank accounts, and payroll requirements. Having a definite plan will be helpful for monthly budgeting and cash flow. This will also enable us to know the scope of work required precisely.

You will receive a Letter of engagement defining the scope of work agreed as a  package price. This engagement letter needs to be physically signed and copies retained for records.

Do Business Pillars charge hourly?

No, we do not prefer to work on hourly rates. We do not want to give a wrong impression that we are dragging the work,  in order to extract more money from the client.

Having a package in place will be transparent to the client on the scope of work expected at the agreed price.

Is there a deposit payable?

Yes, we do take an initial deposit to ensure that we are working with the right client. In addition, we ensure that we are weeding out tire-kicker, complainers, and freebie seekers, who don't value their time. This initial deposit will be adjusted with the first payment. If there is a change of mind within seven working days of making the deposit, the amount will be refunded in full.

How to pay for the services?

We prefer that you set up an automated online payment through your bank. Alternatively, set up recurring Bills Payable to Business Pillars in your accounting software

Does Business Pillars issue invoices for the services provided?

Yes, we will generate an invoice on the 1stday of the month as per your package requested. This will be sent to your email address. These fees are shown as expenses in your books of accounts and are tax-deductible.

Can Bookkeeping be done remotely?

Yes, we can provide services online. Most of the accounting services are linked to the cloud. This is easy for both the client and Business Pillars to connect easily, with real-time access.

Why choose Business Pillars?

Clients are provided with excellent service. Clients have access to check the progress on their accounts daily. Clients are reached easily through email, phone, or zoom meetings.

What safeguards are made to keep clients safe during the Covid-19pandemic?

Clients can be contacted through email, zoom, or phone if unable to meet in person. Abiding by the restrictions made by the government is our top priority inkeeping us safe.

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Bookkeeping

You can create any structure you want by using the same tools as in the regular workflow. Add buttons and forms or anything else you'd want.

Being experienced with an accounting background, we can offer a wide range of reliable and accurate bookkeeping services. A common question often asked is, "What exactly does a bookkeeper do? "The answer to this question is shown below for our services as specialist bookkeepers. We can,of course, modify our services to suit the needs of your business whether you need a few of these services or all.

·      Accounts Receivable*-Invoice preparation and follow-up with the client

·      Accounts Payable* - Suppliers' invoices are processed and paid when due.

·    Bank Reconciliations -Reconciling Bank and Credit Card accounts with daily bank feeds

·     GST Filing                        - Timely filing of Bi-Monthly or Six-Monthly returns

·     System Training               - Training is required whenever you choose new software. We provide free training.

·    Accounting Software conversions – With our expertise, we can switch your accounting information to XERO/MYOB

·        Payroll

·        Unlimited Email Support

*Note:- Accounts Receivable and Accounts Payable are closely monitored to ensure that your business has no issues with cashflow

Payroll Management

Business Pillars offers all-inclusive payroll services that help your business run efficiently. We are committed to being legally compliant. Our services are built to simplify payroll processes for small to medium-sized businesses throughout New Zealand.

PAYROLL processing made easy

We provide the most updated payroll solutions tailored-made that is affordable to your requirement. We are committed to taking care of all the work demanded, allowing you to focus your time and energy on more essential things you love to do.

Our payroll services are:

·        Employees pay, On-time payments including benefits, reimbursements, deductions, Weekly/Fortnightly/Monthly

·        Employee PAYE

·        Payday Filing   – Timely filing returns to IRD

·        Leave entitlements– Accruals for each type of leave

·        Leave Payment - As per Holiday Act 2003

·        KiwiSaver contributions

·        Maintaining payroll records – payments and documentation

GST Filing

Timely Processing

We ensure that we file all GST Tax returns two weeks before the due date. We keep our clients informed before we proceed. This ensures that the client is at ease.

·        GST Filing        - Timely filing of Bi-Monthly or Six-Monthly returns

Monthly / Quarterly Advisory

The clients are in a position to process their reports from the software chosen. Based on the service requested, additional reports are also given that are not available in their chosen software. These reports enable the client to make corrective business decisions. Business Pillars reaches out to clients who require more assistance.

Monthly Management Meetings

The primary purpose of a monthly management meeting is to get the business to grow. This is either done through a phone call, zoom, or meeting in person.

Cash flow Management

Managing cashflow is a significant responsibility faced by most small businesses. We reach out to businesses making it stress-free to ride on the highs and lows of the cash flow throughout the year.

We assist in producing a cashflow statement which is a financial statement that summarizes the amount of cash entering and leaving the business. The cashflow statement measures how well the business can manage its cash position, meaning how well the business can generate cash to pay its debt commitments and fund the day-to-day operating expenses.

Budget Forecasting

Small business budgeting and forecasting

We need to get some relevant numbers to know what the future will look like regarding a business. Budgeting and forecasting will help to support this vision. Business Pillars can work alongside you to understand these basics so you can build a financially sustainable business.

What is a budget?

The budget estimates how much money will come in and go out from your business over time (usually a year). Budgeting and forecasting normally benefit all businesses and first-time startups to see if they can afford to run the business and compensate for all their hard work with a good return for their initiative.

What are the main principles of having a budget

Budgets forecast the money-making possibility of a business. It will also highlight things like:

  • How much will it cost to startup?
  • How much money is needed to borrow?
  • When will be the breakeven point?
  • How much should the customers be charged?
  • How many staff are needed?

Monthly / Quarterly Advisory

The clients are in a position to process their reports from the software chosen. Based on the service requested, additional reports are also given that are not available in their chosen software. These reports enable the client to make corrective business decisions. Business Pillars reaches out to clients who require more assistance.

Job Management

Job Management is software that supports project managers and teams to complete client requests and projects efficiently. Most professionals depend upon this job tracking software which assists them in supervising multiple sections of a business. Business Pillars are here to assist in setting up this service to track income and expenses related to service jobs.

XERO and MYOB both have the capability for Job Tracking

These are the advantages:-

·        Create quotes immediately

·        Easily track jobs from quote to invoice

·        Schedule the jobs on the go

·        Get paid quicker