Accountancy – Introducing Our Services

NMSNZ Ltd offer clients three tailor-made levels of accounting services for clients as custom packages:

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Accounting Basic

This package is designed as an entry level package of accounting services for sole traders and/or individuals who are required to file annual returns as their income may be over the threshold of $ 48,000.00 per year. It is also suitable for Trusts who are required to file annual returns.

Accounting Mini

This is designed as an entry level package of accounting services specifically tailor-made for small to medium companies and commercial operations who may have minimal accountancy statutory compliance requirements.

Accounting Mini Plus

This package of services is additional to our Accounting Mini accounting services, and may be tailor-made to suit a client’s specific requirements. In addition to all the statutory accounting requirements, we can offer full accountancy and office administration support, compiling and filing all GST returns, PAYE and full payroll from compiling and filing to administration and payment of staff salary and/or wages (weekly, fortnightly or monthly). We can also provide depending on the clients specific requirements, assistance and monitoring of debtors and creditors, cash flow through to funding, employment assistance including employment relations issues, compiling and provision of terms of trade for that business with its debtors or creditors, securities registration and asset tracing, assistance with mergers and or acquisitions including preparing funding applications, business restructuring or redundancy, exit strategies including succession provisions, crisis management, and all taxation and estate planning. This package is designed for a commercial entity who wishes their accountants and business advisors to take a more “hands on” role, in partnering them to assist successfully navigate their business.

Glossary of Additional Services NMSNZ Ltd Accountants and Business Advisors provide:

Acquisitions and Mergers

There may be opportunities presented to you to purchase another business or merger with another business or commercial entity. The questions raised are usually,

  • “Are you getting a good deal?”
  • “Is the business right for you?”
  • “Can you afford it ?”
  • “Has the future potential of the business been fully explored?”

We can assist you every step of the way from:

  • Reviewing your goals and overall objectives,
  • Ensuring a period of carefully monitored due diligence,
  • Preparation of financial reports on cash flow, plus present to future valuation forecasts,
  • Assess the risk versus the potential rewards,
  • Assist with purchase negotiations,
  • Assist with funding proposals or finance,
  • Preparation of a business plan.

Benchmarking

A process of evaluating how your business compares with your competitors, understanding your industry and its commercial boundaries, and analysing these as key performance indicators can be a daunting task.

Are you spending the right amount on advertising, are you paying more than others in the market for commercial rent space, what is the average bottom line achieved by your competitors?

We can assist you to research the information required and evaluate the results, and we will work with you to develop strategies to improve your bottom line.

Bookkeeping and accounting

Business today demands up to date and accurate financial information.

We will provide information when you need it, not just when you request it.

NMSNZ can relieve you and your staff of an enormous administration burden by taking over the responsibility of your bookkeeping and accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisals and planning purposes.

Following discussions with you ensuring your precise requirements, we will provide you with information you will understand, and with constructive advice on a regular basis.

Budgeting

Quite simply, a realistic business budget is critical in any credible business plan. We can assist by providing advice on how to set financial targets and how you can measure the performance achieved. Our expertise will prepare and present to you financial projections for you to fully consider future commercial scenarios and goals for you to strive for in your business.

In addition to goal setting value, budgets will and generally assist you improve your chances of gaining additional funding approval. Cash-flow forecasting is a vital ingredient of budgeting to ensure your business has the cash it needs, as cash pays the bills, not “expected” profits.

There are many different types of financial budgets we can prepare to assist you achieve the aims of your business in the future, and also achieve a certain peace of mind.

Business Start Up

So you have a great idea for a new business venture, but you are worried that you don’t have the experience in financial or legal aspects required to start a new business. Let us help you:

  • Decide on the most suitable business structure for your new business, sole trader, partnership or limited liability company.
  • Prepare a business plan, cash-flow projections, budgets and trading forecasts.
  • Assist you to assess your financial requirements, provide advice on potential sources of finance, and prepare the necessary proposals.
  • Assist establish a good working relationship with your bank.
  • Prepare and complete any statutory registration documentation with the Companies Office, Inland Revenue, or other government departments.
  • Assist with appointment of a company secretary, registered office, and company service address.
  • Set up a recording system for your internal use and for complying with the statutory provisions of the Companies Act 1993, and/or other government regulations or statutory provisions.
  • Assist with employment recruiting, appointments, employment contracts, PAYE and payroll.

Cash Flow Forecasting

It’s true that in business, there is almost nothing more important than cash.

Are you seeking finance ? Has the bank asked for your cash flow forecast ?

Cash flow forecasts provide information on how you expect your business will perform in the future. It also provides a financier (generally your bank) with information as to how you consider you will be able to repay any loan they may be prepared to advance to your business.

Cash is the essential ingredient that enables a business to survive and prosper. It is also one of the main indicators of a business health.

While a business may survive for a short period without sales or profits, without cash it’s almost certainly dead in the water. For this reason the ins and outs of cash needs to be carefully monitored and managed. We can assist by providing you with the systems and procedures you will require so you can spend more time working on your business, rather than in your business. Our expertise will provide you with:

  • Support to identify when cash will be available,
  • Plan and prepare for expansion, stock control, and taxes.
  • An ability to anticipate in a timely fashion, any projected key expenses.

Crisis Management

This relates to a period where for some unforeseen and or tragic circumstances, the company is left without a director or manager to take temporary control. NMSNZ can assist by stepping in and taking control of the management functions of your business until a suitable replacement can be appointed. Even in positions of substantial disputes, our role is to provide a status quo without detrimentally affecting the interests and value of the business.

NMSNZ has the procedures and processes in place to quickly and promptly take control, and continue the trading operation of the business with the least disruption to staff, clients and suppliers.

Forensic Accounting

Forensic Accounting is the use of a specialised accounting procedure to assess the financial implications arising from or due to legal disputes. In any dispute over money it is imperative to be given accurate and prompt advice.

At NMSNZ Ltd we offer assistance in legal disputes, to assist resolve issues over lost opportunities or the loss of the use of money. Often our intervention, and or mediation of the issue under challenge, the matters can be resolved without resorting to lengthy and costly litigation through the Court. However if the matters proceed to Court, we can prepare the documentation and information required for your case, and present this to the Court during the hearing on your behalf.

Our staff and consultants have a broad and sound understanding of legal concepts and procedures based on years of hands on industry experience. We can help to guide you through the pitfalls and dangers of the legal process.

Office Administration Support

NMSNZ Ltd understands fully the day to day office functions required within any business. For a variety of reasons that may arise, we can provide instant professional support, short or long term in:

  • Wages processing,
  • Payment and processing of creditors,
  • Collection and banking of debtors,
  • Various secretarial tasks,
  • Training of office staff for various operation functions.

Payroll Services

The administration of your payroll can be time consuming and divert you from the core commercial focus of your business. The payroll and employment legislation is increasing in complexity. We can relieve you of this burden by providing a comprehensive and confidential payroll service, including:

  • Customised individual payslips,
  • Administration of PAYE, statutory sick pay, annual leave etc,
  • IR-Filing to the IRD,
  • Summaries and analysis of staff payments,
  • Administration of any incentive schemes, bonuses and termination payments.

Generally, even if you only have a small number of employees, NMSNZ can provide savings by engaging us to administer your payroll.

Risk Management

The purpose and process of risk management is to identify potential risks that your business may be exposed to which could lead to a financial loss situation.

NMSNZ will summarise your needs and objectives should any of the identified risks actually occur by way of a proposed risk strategy.

We also investigate and assess your need of structured legal and insurance protections, and evaluate your current insurance protections and assess their ability to protect you against financial loss. We complete our assessment by providing a risk strategy report detailing our findings and itemising any recommendations we believe appropriate.

Selling a Business

NMSNZ have a large potential sales client base as a result of our insolvency practice, and from this client base we have a number of interested parties always looking for new business ventures.

We investigate and assess comparative sales results for similar businesses (if any) and therefore suggest what we consider to be the realistic sales parameters. This can be assessed not only on comparative sales, but more importantly on the past financial results achieved. For these reasons up to date financial information on your business and its past trading history is crucial. We then provide you with possible options to market your business, and can negotiate the detail of a sale on your behalf with any potential purchaser.

We can also assist draft the final sales contract. Our efforts assist to ensure that you receive the maximum return from your business that can be achieved on today’s market.

Statutory Maintenance

Legislation requires business to perform many compliance tasks that invariably cost your company time and money. Much of this relevant legislation is contained in the Companies Act 1993, and also in other Acts which are constantly being reviewed and updated. The possible threat of penalties for non compliance is a risk to great to take.

At NMSNZ we can alleviate this burden from you as our services include:

  • General and practical advice on the Companies Act 1993,
  • Company formations,
  • Filing of annual returns on your behalf,
  • Preparation of company resolutions, minutes,
  • Maintenance of shareholders and directors register, interest registers and other statutory books and records,
  • Registered office facility and service address.

Strategic Planning

Most businesses don’t plan to fail, they simply fail to plan. Successful businesses must plan ahead. We will help you develop a strategic plan that will address where you wish your business to be in the next 3 – 5 years, and provide a step by step process for you and your team to achieve the identified objectives.

Your strategic plan should:

  • Define with a certain degree of accuracy the characteristics and ambitions for your company in 3 to 5 years time.
  • Identify your competitors,
  • Define your objectives and financial goals,
  • Provide a plan for the effective implementation of your goals.

Succession Planning – Exit Strategies

To ensure the long term success of your business, it is critical to establish a well prepared succession plan or exit strategy. This could arise in the event of the death of a director or the sale of a parcel of the company’s shares by one of the majority shareholders. Whatever the reason, when you decide (or unwillingly) to exit stage left, a comprehensive succession plan is necessary to relieve the issues of the business continuing, and remove the stress from those affected.