How much does it cost to hire an accountant for a small business?

Even in your average small business (1-3 employees, less than $500k turnover) there will be a broad range of options for accounting and finance including getting specialise setup, tax structuring advice, finance systems and processes together with the everyday bookkeeping and accounting functions.

Is an accountant needed for a small business?

An accountant can offer comprehensive startup and ongoing small business advice, while making sure tax compliance is prepared and filed with the relevant authorities on time.

What is the role of an accountant in a small business?

Being a business owner can be a tough job, and it’s good to have a trusted advisor to lean on in times of complexity or uncertainty. An accountant will be able to help you navigate your business through these times, and help keep compliant with relevant tax authorities.

Xero is an integrated accounting platform that can complete all small business invoicing, receipts, bank transactions and reporting for the IRD. Being cloud based means your advisers can have access to your information in real time.

Is Xero Accounting any good?

Xero is a great tool for small businesses as it gives you real time access to the financial data of your business - information we couldn’t imagine being in business without.

Struggling to Save for GST? You’re Not Alone (And You’re Not Bad at Business)

2 Feb

Written By Simon Manawaiti

For many startups, creatives, and small business owners, GST is one of the hardest parts of running a business because it quietly drains cash if it’s not managed well.

Here are practical, proven ways to make GST far less painful.

1. Separate GST From Your “Real” Money

One of the simplest and most effective strategies is to set up a dedicated GST bank account.

Each time money comes into the business, transfer the GST portion (usually 15% or 1/9th of income received) straight into that account. That way:

GST is never mistaken for profit
Your main account shows what you can actually spend
Filing time becomes boring (which is exactly what we want)

2. Automate Where Possible

If remembering to move GST relies on motivation, it will eventually fail.

Options include:

Automatic bank rules that sweep a percentage of income into a GST or tax account
Treating GST like PAYE — it leaves the account before you pay yourself
Weekly or fortnightly transfers instead of scrambling at the due date

3. Treat GST Like a Bill, Not a Surprise

GST isn’t optional, and it’s not negotiable — so it helps to treat it like rent or power.

This could mean:

Setting aside money each month toward the expected GST bill
Checking “GST owed if filed today” in your accounting software regularly
Planning for it well before the return is due

4. Make Sure Your Accounting Is Actually Correct

From a technical perspective:

GST is only payable once you’ve provided a taxable supply
Deposits, progress payments, and timing differences can affect when GST is due
Incorrect treatment can mean paying GST earlier than required

From a practical perspective:

Business expenses paid privately are often missed
Missed expenses = higher income tax and less GST claimed
That’s money unnecessarily left on the table

5. Maximise Legitimate Deductions

If cash flow is tight, GST can feel heavier than it needs to.

Making sure you’re:

Capturing all business-related expenses
Correctly apportioning mixed-use costs
Recording reimbursements for personal spending on the business

6. Choose the Right Filing Frequency

Monthly, two-monthly, or six-monthly GST returns all suit different types of businesses and personalities.

Smaller, more frequent payments can be easier for some. Others need longer cycles, but only if they have a solid saving system in place.

This is about matching the structure to how you actually operate, not what you “should” be able to do.

If GST is a constant source of stress in your business, that’s usually a sign it’s time for better systems, not more discipline.

Disclaimer

This blog post is for informational purposes only and should not be construed as professional advice. It is recommended to seek the advice of a qualified accountant or tax professional regarding your specific circumstances.

Simon Manawaiti