Hey Number Uppers,
Hope life is all good. We are rapidly approaching the end of 2020. Apparently our kids will be at home in 4 weeks. Yikes! Didn’t that sneak up??
Lets crack into the November newsletter before the year runs out then. What’s news you say? Well read on, thanks for asking.
Xero Starter Plan
Have you heard about the changes to the Xero starter plan? The starter plan is now $27.50 per month. It allows unlimited bank transactions to be reconciled, up to 20 invoices per month and you can create up to 5 bills per month. Previously the starter package only allowed 20 transactions per month which wasn’t super helpful for most businesses, and had limited invoicing functionality. But things have changed for the good. So what does that mean for you?
- If you are currently using Xero cashbook you could upgrade at a cost of $2.50 extra per month. This will allow you to invoice customers directly from Xero and manage your accounts owing.
- If you currently use Xero standard (cost $60 plus GST per month) you could scale down to the Starter Plan if you:
- Invoice less than 20 customers per month
- Enter less than 5 bills per month
- Don’t require the expenses app
That could save you $32.50 per month. Good eh? Contact Tanu or Scott if you want to change. Some of you keen tikes already have.
Changes To The Small Business Cashflow (Loan) Scheme
The Government has got into the Christmas spirit by announcing some generous changes to the Small Business Cashflow (Loan) Scheme.
- No interest will be charged if the loan is repaid within two years (was previously one year)
- Restrictions have eased up on how the loan can be used. As well as core business expenses you are now allowed to use the loan to invest in your business.
- Applications can now be made up until 31 December 2023.
Ask our team if you have any questions.
Remember…….It’s still a loan which needs to be repaid so you should talk to us before you make any commitment!
Ask Us Email
We have been bombed by questions this year. Really sorry if you have been emailing Scott and he has been slow at getting back. We want to make sure we get back promptly. We have created a new email address – email@example.com . The whole team has access to it so that means we’ll get back fast as. We have two $25 vouchers for Café Society to give away for the first two people to email us with a question on firstname.lastname@example.org. Keep the questions clean!
Christmas Office Hours
We love Christmas here at Number Up. Not only do we get some time off to spend with friends and family (could be interesting for some), but its also a time to give. We have each chosen our own charity that we will be donating to:
- Scott – SPCA and Cure Kids. I got to pick two because I’m the boss. Hope that isn’t an employment relations issue.
- Tanu – Tearfund New Zealand
- Leony – Fred Hollows
- Nicki – SPCA
We did mention an Orphan’s Christmas party for our small business operators in our last newsletter but we only had a couple of people show interest. And apparently one of them already has a couple of Christmas parties on the radar anyway. So we have decided not to press ahead with that idea. Might have been an awkward situation.
Our office will close on Tuesday, 22nd December. Scott will be back by Monday 11th January 2021 for those that can’t get by without their accountant. We know there’ll be a lot of you. We’re obviously a bit sad to be out of the office but we should come back with super power levels of energy and concentration.
- For those provisional tax payers we will get 15 January 2021 provisional tax letters out to you by the last week of November.
- If we prepare your GST return we would like to have all these prepared before 22nd December. If you need to get GST info to us can you please get it to us by 10 December.
- If you need your payroll done for Christmas can you please get hours to us by 22nd December. Please call us if you have any questions. If you need payroll prepared between 22nd December and 11 January please let us know now so we can make arrangements. Please email email@example.com
If you have had a good experience with us and would like the world to know please google review us. We would really appreciate the feedback. Hopefully you didn’t open your tax return upside down.
Just For Fun
Thanks for reading another one of our riveting newsletters. We’re scraping the bottom of the humour barrel but we didn’t want you to read this far without something. So here goes……
Q. Did you hear about the man who walked into a bar carrying jumper leads?
A. The bartender said, “You’d better not start anything here mate”.
Q. Did you hear about the screwdriver who walked into a bar?
A. The bartender said, “We’ve got a drink named after you.”
The screwdriver said, “What??You’ve got a drink called Stanley?”
Right. I feel like I might have taken that too far.
Have a great end to the year. Peace out.