The Fuel Accounting blog page

The Bank Reconcile screen is one of my favourite places in Xero. It was, and still is, what makes Xero a clear leader over the other cloud-based accounting systems. If used properly it puts an end to unnecessary data entry and reconciliations. But there is always a catch – if used properly! It is possible to be unreconciled even if you no more entries in the reconcile screen or if the Statement Balance equals the Balance in Xero.

IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. We have a number of Charity clients who are GST registered. The number one issue we have to deal with for these clients is sorting out what income streams should be subject to GST. Just because you are a Charity doesn’t mean that all your income is exempt from GST.

IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Keeping a log of your motor vehicle mileage is an important (and often overlooked) aspect of your record keeping. In this article I will give you some pointers on how to properly maintain the required records.

IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Sometimes we get a client’s list of expenses from the year and it just makes us laugh! There are things listed that clearly are not business expenses. Quite often there are things that are borderline, and there are always things that are simply unclear.

IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Having access to a vehicle is quite a necessity for a business these days. If you are in business for yourself your company vehicle is probably also the family car. This gives rise to some interesting tax questions about how much of your ride you can claim as a valid business deduction.

IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. There are several ways to make a tax payment to the IRD (no, you don’t send it to me).

IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. Taking the step to employ staff is a big one. But the reality is that your business can’t grow much with just one person.

IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you. I find it frustrating when I buy something for business and get given a receipt or till docket and find that it is not a valid tax invoice. It’s amazing how many businesses issue invoices that aren’t valid tax invoices for GST purposes.