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accounting software

Do you use accounting software?

Accounting software is growing in its use by small businesses. The introduction of AIM will offer software providers the ability to develop a tax calculation capability within their packages.

1. Do you use an accounting software package in your business? If not, why not?

2. How often do you update records in your accounting software?

Comments

Ronise Paul
I don't use an accounting software package that integrates with IRD, why is this not open to all PT payers?

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3 months ago
Jacqui Gibson
I use Xero - and reconcile expenses etc on a weekly basis.

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2 months ago
David Hutton
As a self employed consultant with no staff, I have no need for accounting software. Excel is perfectly adequate as I have very few income transactions (2 per month).

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2 months ago
Sarah Gunn
I agree - I do not need anything more comprehensive than an excel spreadsheet. Customised software would be expensive and unnecessary. I pay PT twice a year with my GST - the process is fairly painless and I always know round about how much I will be required to pay. Switching to another payment basis would be far more work for me.

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2 months ago
Janine Clemons
I use Microsoft excel - no software, but have been using an accountant for years and would rather stop due to a change in my salary through self-employment. I update every two months

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2 months ago
Julene
I use Xero accounting software and update my records 1-2 times per month

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  • agree0
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2 months ago
Julie Roulston
I use Xero and love it.

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2 months ago
Julie Roulston
I use Xero and love it.

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  • agree0
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2 months ago
Alan Roberts
Yes and monthly

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2 months ago
Jane Fitzgerald
Yes we have an accounting software package and gets used and updated daily.

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  • agree3
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2 months ago
Justine Cummings
I don't use accounting software at this stage, but would like to take advantage of this AIM tax payment method.

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2 months ago
AMANDA YOUNG
I also don't use accounting software but find the present provisional tax method very onerous for my sole trader business. I also wish for the new system to be open to all so I can "pay as I go".

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2 months ago
Debbie Dawson
Yes, I use the very basic MYOB.

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2 months ago
Bronwen Evans
I find Provisional tax a problem each year as I'm an author and I get quarterly, and 6 monthly and monthly income statements from various retailers and publishing houses. My income fluctuates so much year to year depending on the number of books I have published and how well they do. I cannot often estimate correctly what I will earn each year on year and the penalties are harsh if I under estimate. So, being able to pay as I go on actual income would be great.

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  • agree3
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2 months ago
Helen Crampton
Don't use. Business too small

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  • agree4
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2 months ago
Mark Jones
IRD being the size they are, they should work in with a software provider and make it free for small businesses that have accountants for backup. that way small business could be sure they are filing all the right stuff direct to IRD

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2 months ago
Rob Gerring
Why should other tax payers subsidise your business?

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2 months ago
Bruce Miller
I use Xero. It's an expense, but saves me accountancy fees and makes life so much easier. I used to hate entering data into spreadsheets and risking making errors. I update every two months, when GST is due.

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  • agree1
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2 months ago
John W
No, spreadsheets work ok

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  • agree5
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2 months ago
Mark Irwin
We use MYOB Online and reconcile monthly.

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  • agree2
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2 months ago
Julian Melville
We don't use accounting software at the moment as the business is very small and can be run from a spreadsheet. Using AIM would be a benefit as exchange rate fluctuations can cause changes in the business income. We update the records 1-2 times a month.

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2 months ago
Julian Melville
I meant to add - if we did switch to using accounting software, it would almost certainly be Xero.

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2 months ago
Chris Davidson
No, business too small

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2 months ago
Chris Davidson
No, business too small

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  • agree1
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2 months ago
Chris Davidson
No, business too small

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  • agree1
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2 months ago
Chris Davidson
No, business too small

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  • agree1
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2 months ago
Graham Beard
I do not use accounting software I run an excel spreadsheet. I work as an IT contractor and have no problems with my two provisional tax payments due in May and October along with my GST. For me making additional payments would require more effort.

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  • agree4
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2 months ago
Alan Thomson
I dont use an accounting package, I used to but it was more effort than a simple excel sheet The provisional tax regime for companies where you pay 2 monthly and include GST and provisional works well so just adapt that

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2 months ago
Alan Thomson
I update monthly when invoicing / creditors / payables is done

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2 months ago
Belinda Mackay
Yes we use Xero and reconcile fairly regularly so being able to make tax payments throughout the year will be much easier for managing cashflow.

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2 months ago
Dale
Xero, that is updated daily.

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2 months ago
Sandra Kraakman
I have stopped using accounting software. It is an expense I can no longer justify when we are already paying an accountant to do the work. This change has come about as the business has grown and become more complex.

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2 months ago
Paul Dunmore
No, I use a spreadsheet with functions to present account balances and statements in real time as transactions are entered. I have only a few transactions a month so this works well. I enter transactions as they occur.

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  • agree0
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2 months ago
Allan Blithe
small sole trader, do all my own book and paperwork, no accounting package do it old school manual book keeping works really well for me. don't want or need to be forced by IRD and changes to PT with talk of AIM to be required to go to some form of accounting software or package

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  • agree3
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2 months ago
Vicky
I have a small home business and don't use accounting software. I have a simple excel sheet that is kept up to date and this will only complicate things for me. I think provisional tax should only be for larger or registered companies, not small home businesses regardless of the income received - that would make my life much easier

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  • agree2
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2 months ago
Megan Foster
My husband and I run a small "mum & dad" operation with no other staff. We do all our accounting on Excel, which is all that's really needed for small sole trader operations.

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2 months ago
proposal means more work
I do not use accounting software I run an excel spreadsheet. I work as an IT contractor and have no problems with my two provisional tax payments due in May and October along with my GST. Making additional payments would require more effort. Yearly income hard to predict. Heavy penalties for bad income estimates are shameful.

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2 months ago
M R David
Once a week

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2 months ago
Jason Price
I use accounting software, but it is not a cloud based package (for a range of reasons that suit my business better - not least of which is cost and appalling rural internet connectivity that makes cloud services not an option). This proposal could easily work with any software package, it doesn't have to be an online one that automatically syncs with IRD only. Please ensure you provide eligibility for providers to submit returns based on software calculations who are using professional software for the New Zealand market (I use MoneyWorks Gold on an Apple Mac, for example). Any in year issues could easily be picked up and adjusted by accountants at the end of the year if there was an offline discrepancy. This is a good proposal, but must not be used as a way for software companies to stitch up an anti-competitive duopoly in the marketplace, or to lead other software providers to see that 'cloud' (with its increased costs and other disadvantages) is the way to force all providers (like Adobe have done with their product set for example). IRD have, in effect, a significant role to play in creating a market duopoly depending how you frame this and impose additional costs on small business by making us dependent on some accounting software companies we may not want to use.

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2 months ago
Linley Wade
I use Zero so would find it no problem as long as it was set up by my accountant in the first instance.

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2 months ago
Mark
1. Do you use an accounting software package in your business? If not, why not? I use Xero and is very easy to calculate profit/loss click of a button and know within reason taxes to pay, all in favour of the new proposed system 2. How often do you update records in your accounting software? Daily.

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2 months ago
Nikki barrett
Yes I use cash manager . Accountant does end of year adjustments - often in a rush at year end as I am Throughout the year would be good - better to pay in smaller increments and overpay rather than be short

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2 months ago
PJK
No - I do not use purpose built accounting software. I use a proprietary excel spreadsheet that has grown as the company has grown. At it's heart the sheet is still a basic list of bank transactions, but there are components/page for GST calc entries, depreciation of assets, and foreign exchange dealing etc. We are not a typical business. As a consultant dealing with international payments from several countries on a monthly basis, I've yet to find an affordable accounting package that deals with these transactions, foreign exchange costs and carry overs at all well. I update transactions on a daily / weekly basis.

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2 months ago
Lee May
I use Accomplish Cash Manager and wouldn't change my software. It's the best I've used over 20 years. Perhaps having a ratio percentage of sales function would assist with paying tax 2 monthly with the GST.

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2 months ago
Lesley
I can see the benefits in AIM but feel it should be optional not compulsory. I always use the 'safe harbour' option for provisional tax so don't have to worry about penalties. My electronic cashbook would need to be considerably updated to include AIM or I would need to purchase an AIM compliant programme at my own cost. If IRD offered an AIM compliant programme to businesses, at little or no cost, I would certainly consider using it. I currently use an electronic accounting package but as a sole trader I could just as easily keep hard copy books to trial balance, which I suspect is the same as many self employed sole traders / small businesses.

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2 months ago
Peter Sergent
I use a cash book programme and do end of year accruals, depreciation etc at year end on a spread sheet. I would end up paying more during the year unless I did monthly adjustments. The compliance effort is not worth it.

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2 months ago
Phil
No, I just use a simple Excel spreadsheet, updated monthly. Nothing more is necessary for me.

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2 months ago
Mike West
I don't use software but have a tax agent to prepare my end of year records. I find it hard to deal with prov tax payments in the years I have to pay it. I would appreciate a system where I could regularly send details of receipts and invoices to my tax agent so I could pay tax on a monthly basis.

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2 months ago
Leanne
I use MS Excel. I am a freelancer. Xero would add to my expenses with very little benefit. Their startup package offers too few transactions and invoices.

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2 months ago
Karyn Welch
I am a self employed consultant with no staff and don't need accounting software. I record all transactions on monthly excel spreadsheets., and this is a perfectly adequate system for my business. would want to take advantage of the AIM system but don't want to start using an accounting software. could provide monthly excel spreadsheets instead?

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  • agree2
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2 months ago
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