Academy Chartered Accountants Limited
Chartered Accountant
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Accounting Services

What are we about?

Chartered accounting!

How exciting - right? You may think that all chartered accountants are much the same. We're not. Sure we all offer similar basic accounting services. We all try and do the most effective job of producing accounts according to appropriate quality standards. And we all try to ensure you get sound advice on business structures and business principles. And of course we all try and ensure you are not paying more tax than you have to - and do not get into trouble with IRD. But there are a few things that make us different.

Virtual accounting

One thing that makes us different from almost every other accountant in NZ is that we're virtual. Sure we have an office, and do accounts that comply with legal and tax requirements. Customers deal with us as they would with a "normal" accountant - but they don't (as a general rule) come to our office. You don't have to even be in our part of NZ. We've always had clients who use us remotely - but today's a whole new ball game. We use mail when necessary (e.g. we need forms signed), but we can operate without ever phsically meeting them. Through tools like Skype and TeamViewer we can work on your PC, or you can watch ours as we analyse your business or your accounts - or even perform training. Many accountants are simply too invested in the traditional type of practice to work this way - but we have seized on the opportunities it provides. We really see the benefits for both parties.

There are inherent implications on using a "virtual" service - on both sides. If you want to consider these further, check out our notes on the risks of "virtual" accounting. Or e-mail us if you aren't sure if it would work for you.

Implications

This has some implications. For example, our clients have a choice of only two ways of doing their accounts. They either use
  • an accounting system (properly geared up for local conditions with GST and acting as the official accounting source), or

  • they use our services via BankLink or possibly a special version of Xero.
Any other system is just too inefficient - and we cannot be both cost-effective and inefficient. We generally try and avoid working one way with local clients, and another with virtual clients.

Another difference

That leads to another difference for us. To produce accounts, we have to check your system and do as much as possible in that, before taking a copy to our office where we do depreciation, salaries, tax, dividends and any other end of year adjustments. Once the accounts are agreed, we then have to ensure your copy agrees by having any journals done at our site repeated at yours. Then you can rollover (if that's the way your system works), so the next year's starting position is the same as last year's closing.

Why so "limited" an approach?

What's wrong with the old shoe-box full of bits and bobs? There are two key reasons. The first is that resources are limited, and that's only getting worse. We aren't prepared to become yet another firm fighting to meet its workload. We want to deal with each client as appropriate - and to build a relationship with them.

The second is that even before we look at the effects of the recent economic uncertainty, most businesses are actually not making any real money. By the time you've allowed for a return on the money invested (including an allowance for risk), and a return for time worked (at market rates), and a return for managing the business, you've exceeded most firms' profit. We want to work with firms that aim higher than that (hence our Academy of Business Excellence Ltd).

So why does every one want accounts anyway?

Well, actually most business people don't. Usually they only do accounts so they can get the taxes because otherwise they get hit with interest and penalties - and still have tax to pay.

So some simply choose the cheapest option. And they usually get results according to the cheapest price. Even in 2009 I helped a client whose last accounts contained a balance sheet that doesn't balance. The question is, so what?

If your business is run through a company, you have a rather large Act which requires various things of the directors. You may have noticed one or two directors facing various measures in recent times - with more to come. People often treat small companies just as themselves - but there are differences which can be very significant.

John Cleese produced an educational film in which he learned about accounts from Ronnie Corbett - as only John Cleese could. In starting to explain accounts, Ronnie said "The balance sheet is the window through which we view the firm." John insisted it wasn't - the balance sheet was "the blind drawn by accountants to keep managers in the dark".

So our view is that business owners are responsible for their businesses - and the accounts are a legal requirement (especially for companies) but also a way to view the firm.

Accounts can do more

Of course you can continue to have the accounts done just so you can pay your taxes - but they can do so much more. Naturally they have to be prepared properly - otherwise figures will not mean what they should - and therefore could produce meaningless figures.

Another thing that affects someone reading the accounts is time. Many people produce a set of accounts to pay their taxes - once a year - and often late. There's not a lot of useful information to be gained from such an exercise. It can be useful comparing trends from several years - but really useful info requires regular effort.

Regular and correct

So if you want your accounts done regularly and correctly, with no unexpected surprises at year end, why not give us a call? We can either do your accounts and GST returns via BankLink, or else you can do them using one of the packages that meets NZ standards.

And of course you don't have to live in a particular area. As your virtual accountant, we can come (virtually) to you, as long as you have broadband. Of course if we are doing your accounts and GST via BankLink, we don't even need that.

So, who're you going to call?

So if you are looking for an accounting partner, give us a ring. We'll sit down together either in person or virtually and see how we might help you.

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