Every business has a finance function. The only question is who's running it.
For most NZ small businesses there are three options: do it yourself, hire someone in-house, or outsource it to a team. Each can be the right answer. Each also has costs that aren't obvious until you're a year into it.
Her...
Most business owners don't decide to outsource their finance function. They drift towards it.
It starts with a Sunday night spent catching up on receipts. Then a GST return filed a day late. Then a quiet realisation that you have no idea whether last month actually made money. None of these on thei...
Last week we put a price on doing your own books. The part people pushed back on was the mistakes.
Fair enough. A miscoded transaction is a five minute fix, and anyone can see that.
It is a five minute fix in the month it happens. That is the whole problem, because almost nobody finds it in the mo...
It usually starts as a sensible decision. Cash is tight, the business is small, and the books look manageable enough. So you set up Xero, watch a few videos, and take it on yourself.
Nobody sends you an invoice for that choice. That is exactly why it is so easy to keep making it, long after the bus...