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Kia ora

As we head toward the 31 March financial year-end, many business owners are busy ticking off compliance tasks — but here’s the truth:

👉 This is one of the most powerful moments in your business calendar.

Done right, year-end isn’t just about closing the books. It’s your opportunity to:

• Understand what’s really driving your business
• Fix what’s not working
• Step into the new financial year with clarity and confidence

With minimum wage increases, KiwiSaver changes, and GST deadlines all aligning, now is the time to get on the front foot.

🔍 Why Year-End Really Matters
The 31st of March is your financial “line in the sand.”

Your year-end financials don’t just tick a box for IRD — they:

• Support lending and funding conversations
• Influence business value and sale readiness
• Form the foundation for your 2027 budgets and cashflow planning

👉 The quality of your data now = the quality of your decisions later.

✅ End of Year – Key Actions
Before 31 March, we recommend:

• Ensuring bank accounts are not overdrawn
• Confirming all liabilities are up to date
• Completing and invoicing all work in progress
• Undertaking a stocktake (if applicable)
• Reviewing aged receivables and identifying bad debts

Simple steps — but they make a significant difference.

💰 Minimum Wage Increase (From 1 April 2026)
The adult minimum wage will increase to $23.95 per hour (up from $23.50).

Also:

• Training and starting-out wages increase to $19.16 per hour
• A full-time employee will earn an extra $936 per year (before tax)
• Around 122,500 New Zealand workers will see a pay rise

👉 This is a great time to review:

• Payroll settings
• Employment agreements
• The impact on your cashflow and pricing

🧾 KiwiSaver Changes You Need to Know
From 1 April 2026:

• Default contribution rates increase from 3% → 3.5%
• Employees can temporarily opt to stay at 3%
• 16–17 year olds now receive employer contributions
• Government contribution remains at 25c per $1 (capped at $260.72)

If you’re using Xero Payroll, new features are being rolled out to make these updates easier to manage.

⚙️ A Gentle Reality Check on Your Systems
We often see businesses unintentionally creating issues in Xero due to:

Setups that were never quite right
Self-taught processes over time
Over-reliance on automation

👉 Reconciliation is more than matching transactions.

It’s about ensuring:

The right data is coded correctly
Reports are accurate and meaningful
You can confidently rely on your numbers

Because when the data isn’t right — neither are the decisions.

🔎 Is It Time for a Health Check?
With year-end + payroll changes approaching, this is the ideal time to review your systems.

A Xero Health Check can help you:

• Identify gaps or inefficiencies
• Improve reporting accuracy
• Streamline your processes
• Prepare for GST and year-end with confidence

A Payroll Health Check ensures:

• Leave balances are correct
• Compliance is up to date
• Systems are working as they should

👉 You can explore our service packages and book here: https://trainingandbeyond.co.nz/service-packages/

📅 Key GST Dates to Plan For

• 12 April 2026 – Target for reconciliation
• 17 April 2026 – Draft GST ready for review
• 8 May 2026 – GST filing due

🤝 Final Thought
Year-end doesn’t need to be overwhelming — but it does need attention.

If you’re unsure about anything, or simply want peace of mind:

👉 Reach out to your Accountant or Bookkeeper.

A short conversation now can save time, stress, and cost later — and set you up for a stronger, more confident year ahead.

If you’d like support, we’re always here to help — whether it’s a quick question or a full review.

Ngā mihi,
Melanie