Thanks to the team over at Prosaic (an amazing startup using AI to work out GST expenses for tax returns), we’ve noted below essential tips to help you navigate the financial year end smoothly:
Before 31 March:
◼ Update your Xero details: Ensure all of your business details are accurate
◼ Bank Reconciliations: Keep your bank accounts up-to-date and reconcile any outstanding transactions
◼ Review Financial Documents: Check for any outstanding invoices, bills, credit notes, or quotes and all transactions are recorded in Xero.
From 1 April:
◼ Early Info Sharing: The sooner you provide your financial information, the quicker we can finalise your returns.
◼ Embrace Digital: Utilise online signatures for a faster, secure return process.
◼ Get AI on the job: Innovative tools like Prosaic can autonomously analyze your bank transactions and compile reports for your home office claims.
This is just an overview; we understand that this period can be hectic. If you have any questions or wish to learn more about how Prosaic can assist you, please don’t hesitate to get in touch.
📞 06 833 6295
💻 www.walshassociates.co.nz
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