Virtual Accounting

What records are required?

When you’re claiming expenses, bank statements alone aren’t enough, they show money going in and out but not what was actually purchased or whether it was business-related.

To support your claims, you need to keep records for at least 7 years such as receipts, invoices or agreements.

At the end of the day, the responsibility sits with the taxpayer, not your accountant. We’re here to help and we’ll always guide you on what’s needed and we’re here to make it as simple as possible.

💰 Claim Back 33.33% on Your Donations💰

Did you know that in NZ, you can claim back 33.33% for every dollar donated to an approved charity or organisation, up to your taxable income for the year?

A few key things to remember:
✅ You can only claim the donation tax credit in the year that you made the donation
✅ If you don’t have taxable income in that year, you can’t claim
✅ Make sure to keep your donation receipts or invoices!

Have any questions about donations? Get in touch with us.

🔔 Friendly Reminder 🔔

Provisional tax and GST for the period ended 31 March 2026 are due on 7 May 2026. 📅

If you need a hand with calculations or planning for cash flow, get in touch today, we’re here to help.

We’ve officially passed 3 years in business 🙌

It’s been a big year, growth, great clients, and officially bringing Jane into the team.

As we head into our next phase, we’re being intentional and taking on a limited number of new clients over the next 12 months.

Our focus:
• Business planning
• Monthly reporting
• Tax planning
• Annual accounts & tax compliance

If you’re a business owner wanting clarity and a plan, now’s the time to get the right support around you.

Financial year end (31 March) is almost here.

At Virtual Accounting we’re getting clients prepared early because the faster your accounts are ready, the smoother things run.

A few quick things to get on top of now:

• Confirm bank & loan balances at 31 March
• Gather receipts for any asset purchases/sales
• Review unpaid invoices - anything to write off?
• Complete stocktake (if applicable)
• Check for income received in advance
• Share any additional income (rental, crypto, dividends, overseas)
• Provisional tax is due 7 May
• Capture home office costs
• Ensure all bank/credit cards are in your accounting system

It’s not the most exciting job but getting this right now avoids delays, reduces stress and keeps things moving.

Plan ahead, don’t leave it to the last minute.

Quick tax math 👇

If your business earns $1 in profit, the tax on that is 28 cents.

So if you spend $1 just to “save tax”… you’ve spent $1 to save 28c.

You’re still 72c worse off.

That’s not a win.

Smart businesses focus on planning, keeping more cash and not spending it just to reduce tax.

What is Virtual Accounting?

We’re Chartered Accountants based in the beautiful New Plymouth with over 19 years’ experience and we work as your business partner, not just your accountant.

Alongside annual accounts and tax returns, we help business owners with:
• Building a clear profit strategy
• Setting intentional pricing
• Providing proper monthly reporting
• Keeping you on track with regular check-ins
• Planning ahead for tax

You don’t need to know everything, you just need the right people in your corner.

We’re responsive, easy to work with and here when you need us, whether that’s a virtual meeting or in person.

If you want a partner who helps you make confident decisions and move your business forward, that’s us.

Thinking of Changing Accountants?

We know that changing accountants might seem like a headache, but with Virtual Accounting it's a piece of cake!

Here’s how it works:

1️⃣Book a Discovery Chat:
Let’s have a chat to see if we’re the right fit for you. If we are, we’ll send you an Authority to Act and Engagement Letter to digitally sign. All we need is your name, Company name, IRD numbers and contact details.

2️⃣We Handle the Awkward Stuff:
We’ll contact your current accountant, let them know about the change and transfer your Xero account.

3️⃣Setup:
Once the documents are signed, we’ll set you up in our system and link to the IRD.

That’s it! No fuss, no stress, just a smooth transition.

Ready to make the switch? Head to www.virtualaccounting.co.nz and book a chat today.

Countdown to 31st March – Year-End Reminders

As we countdown to 31st March, here are some key reminders to wrap up your financial year smoothly:

✅ Get your financial records ready – Make sure your bookkeeping is complete and reconciled.
✅ Stocktake & Fixed Assets – Complete your annual stocktake if you hold stock. Review your fixed assets list, remove items no longer in use.
✅ Debtors – Follow up unpaid invoices and chase debtors. Write off bad debts by 31st March to ensure they don’t impact your tax position.
✅ Staff & Payroll - Check payroll records, wages, and contractor payments. Remember, from 1st April the minimum wage rises from $23.50 to $23.95/hr, and the minimum Employer Contribution increases from 3% to 3.5%.

💡 Tip: Getting your accounts sorted early gives you a clear picture for tax planning and sets you up to plan your year ahead.

If you need any help or have questions, don’t hesitate to get in touch.

✅A friendly reminder that GST returns and payments for the taxable period ending 31 January are due on Friday 28 February 2026.