PKF International
PKF Poutsma Lemon Limited
PKF Poutsma Lemon Ltd, Keri Keri, New Zealand
Accountants and business advisers

Know where your business is at!

As a business owner, I know how important it is to understand where your business is financially.  Most importantly… Do I have enough money in the bank to keep my business running? Depending on your industry, debtor payment terms are often the 20th of the following month, meaning I need to have enough cash to pay employees, taxes and suppliers in the weeks leading up to the 20th.


This is one of the main reasons I switched my accounts to Xero 5 years ago (and I haven't looked back). Each month in Xero, I enter all supplier invoices, calculate employee wages, prepare PAYE and GST returns and invoice my clients. I also reconcile my bank account regularly and often do this from my smartphone or iPad when I have a spare 5 minutes.


By keeping Xero up to date, I am able to generate reports that show me exactly what my current cash needs are and whether my incoming cash will cover the outgoing cash requirements on the 20th. Sometimes there may be a cash shortfall, which sometimes happens when supplies are purchased in one month but a job is invoiced in the following month (usually due to the weather). By using Xero, I know what my cash requirements are and can plan for a shortfall in advance of the payment date.


If you haven't heard of Xero or if you are thinking of converting to Xero, come along to our "Introducing you to Xero" seminar on Tuesday 13 October 2015 in our Kerikeri office. Email us at or phone us on 09 407 7142 to book your seat.

PKF Poutsma Lemon Limited

Janine Telfer

Stay in Touch

My Dad is one of the strongest men I know. He works harder than anyone I've ever met. Never one to shy away from hard work. He and Mum had four kids. With my siblings, that's a life sentence right there.  Plus he's a dairy farmer in Northland this season. But he's a bloke's bloke. I don't know if he'd ask for help if he really needed it.

Mental illness is a touchy subject. Historically, it was seen as a long term burden to society. There was a high degree of shame, prejudice and stigma attached. People were locked up in mental institutes – out of sight, out of mind.

Times changed when Sir John Kirwan become the public face. He told us it wasn't ok to tell people to pull yourself together. "Harden up. Everyone's doing it tough." This is the last advice someone suffering from mental illness wants to hear as it trivialises the way they are feeling. If someone was brave enough to share their problems with you and they get brushed off, they might not reach out again. Discrimination is one of the biggest barriers to recovery.

Surveys reveal that farmers want advice. Recent research shows 

  •  3 out of 10 were carrying too much weight
  • 4 out of 10 had trouble sleeping
  • More than half had issues with high blood pressure
  • Nearly half wanted advice on how to achieve better work-life balance
  • Over a third wanted to know more about managing tiredness and fatigue
  • 4 out of 10 are concerned about the impact of stress and burnout


Coping with financial stress

Everyone feels down from time to time and it's normal for people to feel stressed when they are facing problems with money. However, if you are finding your thoughts and emotions keeping you awake at night, you may need some extra support. It's really important to take care of yourself when things get tough – and don't feel bad about asking for help when you need it.

Get advice about money. By getting a handle on the bigger picture, you can take back some control in your life which will help you feel better about yourself and stop that feeling of being overwhelmed.

Discuss your financial situation with the team here at PKF Poutsma Lemon Ltd. Like they say, a problem shared is a problem halved. We can work together to set goals and make a clear and realistic budget and plan to get through the season.  Let us help you get peace of mind and control over your cashflow. Our most successful clients are those who've set targets each year and monitor their results on a regular basis – tough season or not. They know how they are actually performing against budget and can quickly respond to any changes on the horizon.

I'm issuing a challenge. Talk to your neighbour. Talk to your partner. Talk to your kids. Ask how things are going. Actively listen to what they have to say. Let them talk and talk to them about them. It's important to look out for your family and friends. We can make it through hard times by pulling together. I'll rest a whole lot easier knowing a community is looking out for my Dad, and other men just like him.

PKF Poutsma Lemon Limited

Jancy Stott

ACC Update

This week, Leigh Austin caught up with the ACC Guru's at our Kerikeri Office. We regularly meet up with Leigh to keep up-to-date with what's happening at ACC and to ask her all of our "curly" questions.


You may have noticed ACC levies on motor vehicle registrations and fuel went down this year. ACC would like more levies to be reduced and would like public opinions before they make their recommendation to the government.


The government has the final say, so the more submissions ACC receives the better. ACC's annual public levy consultation runs from 1 October 2015 to 31 October 2015, the dedicated website to have your say is


ACC is proposing to reduce the earner levy rate, which will affect everyone who earns a salary or wage. So get submitting and encourage the government to accept ACC's proposals.


ACC acknowledges there are some delays in the processing of CoverPlus extra applications, but rest assured, the date your application is received by ACC is the date you will be covered from. If you are not on CoverPlus extra and would like to know more, give me a call at our Kerikeri Office.


Lastly, here are a few ACC statistics you may not have known:


·         Of the 1,788,891 ACC claims in 2013, only 211,582 were work related and a whopping 1,098,793 were at home or in the community.


·         45% of at home claims were due to falls and 6% were animal related, so keep safe this weekend (and try not to trip over the cat).



PKF Poutsma Lemon Limited

Janine Telfer (aka ACC Guru)

The Companies Amendment Act 2014 has introduced a number of significant changes for New Zealand companies, including the introduction of new requirements for directors. 

By 28 October 2015, all New Zealand companies are required to have at least one director that either lives in New Zealand, or lives in Australia and is a director of a company incorporated in Australia.

All directors of New Zealand companies living in Australia must also indicate if they are a director of an Australian company. If they are, they must provide the ACN number, the name and registered office of that Australian company.

Please ensure that the companies meet these requirements by 28 October 2015; companies that don't comply risk being removed from the register of companies.

More information about this requirement can be found on

the Companies Office website.

Registrar of Companies 




More Consumer Law Reform

The reform will affect many different types of contracts where goods or services are supplied and given the substantial fines that could be imposed on traders, the new legislation does need to be taken seriously. The legislation is in force now.

The following list is not exhaustive but highlights what I think are the most important provisions.



§  Guarantee of acceptable quality - applies to goods delivered to the consumer from the time that the consumer receives the goods.  This means that the consumer can claim remedies from the supplier for delivery damage.  A supplier can seek to contract out of this guarantee in B2B deals, but not where their customers are non traders.

§  Guarantee as to delivery - there is a new guarantee that where the supplier is responsible for delivery or arranging delivery to a consumer, the goods will be delivered within the time agreed or otherwise within a reasonable time.  The consumer can reject the goods for breach if the failure is of a substantial character and/or sue for damages.  The consumer may be awarded damages even if they choose to keep the goods.  Businesses need ensure that promised delivery times are realistic and need to monitor their deliveries.  A supplier can seek to contract out of this guarantee in B2B deals, but not where their customers are non traders.  In the latter case, the supplier would want to ensure that they have recourse under their delivery contracts and/or check their insurance cover.

§  Electricity and Gas - except for non reticulated gas, electricity and gas are no longer goods and are covered by a new specific guarantee as to acceptable quality.  Suppliers will have limited rights of indemnity against providers of line function services.  A supplier can seek to contract out of this guarantee in B2B deals, but not where their customers are non traders. 

§  Collateral Credit Agreements arranged by Suppliers - where the is a collateral credit agreement e.g. supplier sells goods and arranges for the buyer to enter into a finance arrangement with a third party, if the buyer rejects the goods, the supplier can be ordered by the court to pay the financier. This is designed to ensure that where a consumer has the right to reject the goods, they can seek to have the supplier made liable to meet the finance commitments.


§  Unsubstantiated Representations - a trader mustn't make an unsubstantiated representation in trade (unless it's a representation that a reasonable person wouldn't expect to be substantiated).  A representation will be unsubstantiated if the trader didn't have reasonable grounds for making it at the time (doesn't matter if they later could substantiate it).  Where a trader seeks to rely on information, representations etc provided by any supplier or manufacturer further up the line, they will need to show that it was reasonable to rely on them. They may need to make inquiries to satisfy themselves that any reliance would be reasonable. Traders can't contract out of liability for making unsubstantiated representations.

§  Extended Warranties - have to be justified and explained, in accordance with the requirements of the Act. There is a 5 working day cooling off period. On cancellation, the supplier must refund all consideration received for the warranty.

§  Online Auctions including Competitive Tenders - the definition of "auction" is modernised, to include auctions that take place on the internet, on the phone, or by any other means. If the vendor of an auction is selling goods that consumers usually acquire for personal, domestic or household purposes, and the vendor is selling those goods in trade as a supplier, the notice must include that information. 

§  Product Safety – there is a regime dealing with voluntary product recalls, as well as compulsory recalls.

§  Unsolicited Goods - the sender of unsolicited goods must inform the recipient of their rights and obligations, including the fact that the recipient does not have to pay for the goods, and that they must make the goods available for collection by the sender during the period of ten working days after the goods are received.  If the sender does not provide the relevant information to the recipient, or does not collect the goods within 10 days, the goods will be treated as being an unconditional gift to the recipient. Recipients of unsolicited services are not liable to pay for those services (except for reticulated gas and electricity).

§  Layby Sales - from now on, layby sales will be governed by the Fair Trading Act.  The Fair Trading Amendment Act has changed the definition of a 'layby sale' slightly, and has increased the maximum price for purchases that will constitute layby arrangements from $7,500 to $15,000.  Businesses must now provide customers with a clear written agreement, and are required to provide individuals with certain information, including details about the individual's right to cancel the sale. Any cancellation charge must not be more than reasonable costs incurred by the seller.

§  Uninvited Direct Sales (like the old Door to Door Sales) - customers will have 5 days in which they can cancel uninvited direct sales agreements if they are approached by a vendor selling goods or services while they are at home, work or over the telephone.  Any uninvited direct sales agreement must be a clear written agreement, including details such as a description of the product, and the full purchase price. The seller must tell the buyer about their cancellation rights before the contract is entered into.


We look forward to sharing with you our blogs - about the Bay of Islands, about our website, about our firm.


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