The Difference Between Being An Accounting Practitioner and a Business Owner

When a small business owner spends more time with clients than with their teams, it shows who they believe is of more importance to them. That shapes whether they see their business as an Accounting Practice or an Accounting Business, resulting in where they are today.

The difference between an Accounting Practice and an Accounting Business is as follows:

Practitioner

"Its quicker if I did this myself"


"By the time I train her I would have done it myself"


"If you want it done right, you just have to do it yourself"


"If I train her, what happens if she leaves"


"I don't want to grow anymore because the more clients have the more stress/pain I have"


"I don't have time as I am too busy"


Focus on the P&L (short term thinking) Focus on putting fires out

Business Owner


"If I train and invest in my staff then I won't have to do it next time"


"If I do it myself then I will be a prisoner in my business"


"If I don't spend time training her then when I am 65 I will still be doing it"


"If I don't train her, what happens if she stays"


"The more I invest in my staff the more clients I can take on without stress the more I want to grow"


"If I don't do the right kind of activities I will always be busy"


Focus on investing in the Balance Sheet (long term thinking) Focus on preventative activities like training staff and clients


Human interaction is a basic necessity; relationships are therefore essential. Since people devote so much time in their office, they can cultivate positive working relationships around a nurturing work environment of understanding, community, and support. This social aspect of work is vital for the development of a workplace where employees are engaged.

Employees respond well to the gratitude expressed by remembering their excellent work, showing that others value their work. Further more, as employees are respected, their happiness and efficiency increase, and they are driven to sustain or improve their good work.


Below is a great email you can send to your Team to show you care about them and how they feel because they are your greatest asset, and without them, you cannot grow and have a great lifestyle.

Hi Team,


As a business owner, I am interested in your level of happiness working here.

There are always challenges that face all of us, and working is no different.

I do care about how everyone feels. We are open to suggestions to improve.

It’s critical to the Management that we are doing our very best to make this place an excellent place to work, and any feedback is welcome – good or bad or somewhere in the middle. 

Every person is essential to us, from the cleaner to every single client we have. 

I encourage everyone to please participate in giving me your feedback on improving things around here?

I want to assure you your comments will be confidential and your feedback will never be disclosed to anyone else, and you are free, to be honest with your feedback. 

We ask for it.

My only plan is to try and discuss and work with you to fix any concerns or issues or improve anything. 

We are not going to blame anyone for anything.

Just focus on solutions and try and work out how we can be a better place to work.

But I need your help to help me make this a great place to work. 

Looking forward to hearing from you

Contact us

We'll get back to you ASAP.

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