Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


aboylikedave

243 posts

Master Geek


#80539 1-Apr-2011 07:28
Send private message

Hi there

My partner is going self employed and needs simple software to enter income (weekly) and business expenses, get a net income figure and work out NZ tax and ACC due. Also calculate GST received, paid and due. She has only one customer (is a contractor). Essentially its just cashbook accounting.

I'd do it all on Excel but I don't know how to do a formula or otherwise get it to do different rates of tax st different bands of net income.

Does anyone have any recommendation or a suggestion for the formula?

Cheers




My EPL football websites: Get the results but hide the score of your team at HidetheScore.net. Compare league positions with wage bills at RealPremierLeague.net.


Create new topic
Zeon
3916 posts

Uber Geek

Trusted

  #454012 1-Apr-2011 07:49
Send private message

Xero!




Speedtest 2019-10-14




knoydart
904 posts

Ultimate Geek

Trusted

  #454018 1-Apr-2011 08:27
Send private message

Hi,

having contracted before, for the low cost solution Excel is perfect.

I've looked at Xero and I like the idea, but for the amount of income I earn and what I need to do - 2 GST returns a year and 1 personal tax return, an excel sheet is fine. Not many formulas to deal with, working out GST content and putting enough aside for the tax bill at the end of the year is about all that's required.

If you want the reporting and direct banking interface, then Xero does look rather nice however.

cheers

knoydart

aboylikedave

243 posts

Master Geek


  #454219 1-Apr-2011 14:40
Send private message

If anyone's interested I've got it now:

If you put this in cell A2:


=IF(A1>70000,(A1-48000)*0.33+14020,IF(A1>48000,(A1-48000)*0.3+7420,IF(A1>14000,(A1-14000)*0.175+1470,A1*0.105)))

And your income in cell A1, it works it out for you!




My EPL football websites: Get the results but hide the score of your team at HidetheScore.net. Compare league positions with wage bills at RealPremierLeague.net.




timmmay
20574 posts

Uber Geek

Trusted
Lifetime subscriber

  #454227 1-Apr-2011 14:56
Send private message

Xero works really well. It tracks income and expenses, depreciation if you have any equipment, and gives you all the information for your tax and GST returns.

You can also claim office space (home office is fine), rent or mortgage, a percentage of your cell/phone/internet, etc. It's probably worth having an accountant look over it too, because it does get semi complex. A decent accountant should save you more than they cost. You do all the day to day stuff, they just advise and check things, and generally file your returns electronically.

Your formula doesn't take into account expenses, the change in GST or income tax rates, etc. I believe it's incorrect, but i'm not an accountant.

aboylikedave

243 posts

Master Geek


  #454698 3-Apr-2011 06:12
Send private message

timmmay:

Your formula doesn't take into account expenses, the change in GST or income tax rates, etc. I believe it's incorrect, but i'm not an accountant.

Yes, it was the formula I was after, I can change the key numbers, and I just need it to calculate from income after expenses, as I can work that out quite easily.




My EPL football websites: Get the results but hide the score of your team at HidetheScore.net. Compare league positions with wage bills at RealPremierLeague.net.


foremannz
34 posts

Geek


  #454700 3-Apr-2011 06:27
Send private message

What about MYOB LiveAccounts - $25/mth, and online all the time means you can use it anywhere on anything, and you can give your accountant their own login!

http://myob.co.nz/products/small-business/accounting-finance/liveaccounts-1257828259130

Create new topic





News and reviews »

Air New Zealand Starts AI adoption with OpenAI
Posted 24-Jul-2025 16:00


eero Pro 7 Review
Posted 23-Jul-2025 12:07


BeeStation Plus Review
Posted 21-Jul-2025 14:21


eero Unveils New Wi-Fi 7 Products in New Zealand
Posted 21-Jul-2025 00:01


WiZ Introduces HDMI Sync Box and other Light Devices
Posted 20-Jul-2025 17:32


RedShield Enhances DDoS and Bot Attack Protection
Posted 20-Jul-2025 17:26


Seagate Ships 30TB Drives
Posted 17-Jul-2025 11:24


Oclean AirPump A10 Water Flosser Review
Posted 13-Jul-2025 11:05


Samsung Galaxy Z Fold7: Raising the Bar for Smartphones
Posted 10-Jul-2025 02:01


Samsung Galaxy Z Flip7 Brings New Edge-To-Edge FlexWindow
Posted 10-Jul-2025 02:01


Epson Launches New AM-C550Z WorkForce Enterprise printer
Posted 9-Jul-2025 18:22


Samsung Releases Smart Monitor M9
Posted 9-Jul-2025 17:46


Nearly Half of Older Kiwis Still Write their Passwords on Paper
Posted 9-Jul-2025 08:42


D-Link 4G+ Cat6 Wi-Fi 6 DWR-933M Mobile Hotspot Review
Posted 1-Jul-2025 11:34


Oppo A5 Series Launches With New Levels of Durability
Posted 30-Jun-2025 10:15









Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.