Insider Accounting Tips You’ll Wish You Knew Sooner

Local expertise from Kiwitax, your neighbourhood accounting pros

Who survived tax year by the skin of their teeth this time?

Next year doesn’t have to be stressful—or last-minute. The team at Kiwitax, long-time members of the Ahuriri Business Association and experts in small business accounting, have put together six smart, simple systems to help set your business up for success in the new financial year. From tax tips to time-saving tools, this guide is packed with practical advice that can save you money, reduce stress, and give you more time to focus on growing your business.

Whether you’re just starting out or levelling up, these local insights are here to help.

 1. Get Expert Help

The easiest way to reduce tax stress? Work with a professional.

An accountant can:

• Save you money by identifying tax deductions you might miss

• Help ensure your return is compliant and accurate

• Give you access to IRD filing extensions as your tax agent

• Provide peace of mind so you can focus on running your business

💡 Pro tip: Accounting fees are tax-deductible, and good advice often pays for itself. It takes just two minutes to request a quote from the friendly team at Kiwitax.

2. Use a Dedicated Business Bank Account

Mixing personal and business finances is a recipe for frustration.

Set up a dedicated business account to:

• Save time sorting personal vs business expenses

• Easily export records for your tax return or accountant

• Look more professional to clients

• Make data easier to collate when looking to get a business loan/investment

• Track your business performance and cash flow more accurately

• Integrate seamlessly with accounting software

💡 Pro tip:  If you don’t have enough funds in the account for a business expense, just transfer your personal funds in to your business account. As long as there is a record of that in that bank statement, your accountant can make sure those funds you have introduced are reported and tracked properly.

3. Keep Your Records in Order

Organised records = faster, cheaper tax prep.

Make sure you:

• Keep receipts for all business-related purchases

• Retain copies of every invoice sent and received

• Store records (digital or paper) for at least seven years

To streamline this:

• Use folders (physical or digital) that make retrieval easy

• Try accounting software or a simple spreadsheet cashbook

• If you are using software, reconcile your transactions weekly (more frequently = even better)

💡 Pro tip: Consider tools like cashbook formatted spreadsheet templates if you're not ready to invest in accounting software. IRD have one you can use. This can be an easy (and free) way to keep accounting fees lower.

4. Use a Vehicle Logbook

If you use a vehicle for business, you could be entitled to claim the related expenses.

Without a logbook, you're limited to claiming only 25% of running costs. And you’ll still need to be able to present evidence to substantiate the claim.

With a logbook, you can claim a more accurate (and potentially higher) percentage.

💡 Pro tip:  Keep a 90-day logbook at your busiest time of year, every three years, to maximise your claim. Check out our article for more details on vehicle expense claims.

5. Plan for Tax Now (Not Later)

Avoid tax-time panic by regularly setting aside a portion of your income.

• A good rule of thumb: 20–30% of each payment you receive/money you take from the business

• Consider placing it in a separate high-interest savings account

• You can also opt to make voluntary tax payments to IRD throughout the year

💡 Pro tip:  If you’re not sure how much to set aside for tax, your accountant can help you determine the right amount to stash away.

6. Automate What You Can

Admin can be a huge time suck—but it doesn’t have to be.

Using accounting software (like Xero or MYOB) can automate:

• Recurring invoicing

• Payment reminders

• Debtor chasing

• Reporting

⏱️ Less admin = more time to grow your business.

Want to feel more in control of your business accounting?

Getting your systems in place now is the best way to take care of ‘future you’. Whether it’s keeping solid records, or calling in expert help, these small steps will set you up for a much smoother 2026 tax season.

Kiwitax is based right here in Ahuriri and works with clients nationwide. Whether you're after better systems, smarter tax planning, or just a friendly voice to guide you through the process, their expert team is ready to help.

📍 Visit www.kiwitax.co.nz or pop into their office in Ahuriri for a chat.
📧 Prefer email? Reach out at service@kiwitax.co.nz

Who is Kiwitax?

We’re a forward-thinking accounting firm with over 25 years of experience helping Kiwi businesses and rental property investors succeed. Based in Napier and serving clients nationwide, we’ve embraced change at every turn—especially when it comes to technology. From the early days of spreadsheets to today’s powerful tools like Xero and MYOB, we’ve integrated digital solutions into every part of our service to make things easier, faster, and more accurate for our clients.

We’re proud to be recognised as a Platinum Champion Partner with Xero and a Diamond Partner with MYOB—a reflection of our deep expertise and commitment to excellence in everything we do.

While tools and trends have evolved, one thing has remained the same: our people. Since our beginnings in 1999 as Dataco Easy Accounting, we’ve built a team that genuinely cares. Friendly, knowledgeable, and always willing to go the extra mile—that’s what sets us apart.

If you’re after an accounting team that blends innovation with down-to-earth service, we’d love to hear from you.