It’s only two months now until the tax year finishes for most small companies in New Zealand.  Although this seems far off, its often right in the middle of busy season when businesses are just starting to kick off again, so the time can fly by!  Clients sometimes get in contact to ask about taxes during February and March, so we thought this post might be useful for helping to prepare your startup for the end of the financial year. 

In order to get a gauge on your business you’ll likely look at a Profit and Loss statement and a Cash Flow report.  While these are similar, to get an accurate picture of how the business is performing, you need to look at both and how they impact each other.

Opening a bank account is easy, but you should hold off until you have written down your business goals and start to understand your business model.