Accounting & Tax

We're here to help. We enjoy seeing our clients succeed in their business objectives.

Bookkeeping & Accounting

Our accounting firm has served the South Canterbury region for well over 20 years and during that time we have built a solid reputation for fast, accurate financial reporting. We can relieve you and your staff of an enormous burden by taking care of all your bookkeeping and accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes. We will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.

Budgeting

A good budget is a necessity in a good business plan. It is one of the best business tools we have, allowing us to set financial targets and measure our performance.

The techniques we utilize in the formation of financial projections will allow you to consider future scenarios and give you goals to strive for in your business.

In addition to goal setting value, budgets will often improve your chances of acquiring funding as financers often require forecasts as a prerequisite for funding approval. Cashflow forecasting is a vital part of ensuring your business will always have the cash it needs, because profits don't pay bills - cash does.

There are many types of budgets and we can help you design the right budget for your needs and requirements. Let us show you how a budget and a cashflow forecast are able to provide feedback to allow you to prepare for the future of your business.

Cashflow Forecasting

Have you ever wondered if you are holding too much inventory? Is this the right time to expand your business? Are you going to have enough cash to pay all expenses every month?

Survival in today's business climate requires you to spend more time working on your business rather than in the business.

We can provide you with accurate, timely and informative cashflow forecasting reports - allowing you to:

Realize and understand when cash is available
Plan and prepare for expansion, stock control, and taxes
Analyse and anticipate key expenses

Armed with this information, we'll work with you to develop action strategies to improve your bottom line.

Farm Accounting

Farm accounting involves specific business, financial, and taxation issues, and as such requires a specialist understanding of the industry. At Compass Business Partners we keep abreast of the developments in both the farming and accounting industries, putting us in a position to provide up-to-date and accurate advice.

Our services include:

Farm budgeting and cash flows
Farm sales and purchases
Ownership structures
Preparation of financial statements
Taxation
Seasonal planning
Succession planning

Fringe Benefit Tax

The rules relating to FBT payments change on a regular basis. At Compass Business Partners we keep up to date with the world of tax and are able to give accurate advice on the preparation of FBT returns.

We are also able to advise on the FBT consequences of proposals you intend to make, allowing you to make fully informed decisions.

Rather than paying excessive amounts of FBT, let the experts answer your tax queries. We can assist with the development and administration of a cost-effective employee benefit plan.

Latest Blog Posts

Accounting & Tax

House flippers beware

August 13, 2024

People who are buying and selling properties for profit are being warned they could get a tax bill, even if they hold the house for longer than two years – and even if they have lived in it themselves.

Online marketplaces, tax and you

March 21, 2024

If you rent out the family bach through Bookabach, if you do some driving with Uber, or, more generally, if you earn income through an online platform, you need to be aware of recent and upcoming changes.

Holiday cash flow for your small business

December 6, 2023

This time of year can be hard on small businesses. With a bit of pre-planning and being proactive, you can set yourself up for a financially stress-free holiday. Talk to us. We can help.

#smallbusiness #cashflowtips

Be canny with cash flow

November 22, 2023

Take a moment to step out of the Christmas rush and do a quick sanity check with your cash flow plan. It can be easy to forget the tax due in January, along with recurring expenses and seasonal spending.

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