Benchmarking
What is Benchmarking?
Benchmarking is the process of comparing one’s business performance metrics to industry bests and/or best practices from other similar industries. Dimensions typically measured are sales/turnover, gross profit, occupancy costs, wages and other associated business expenses. As well as net profit, owner remuneration and staffing levels.
Benchmarking is the submission of your financial data anonymously and then it is measured against the median, the average, and the top and bottom 25% of firms in your industry who have also submitted their financial data. It helps to clearly identify where your business differs from the norm.
If you would like Makes Cents to do Benchmarking for your particular business, please contact the office for further information and pricing. Remember, Benchmarking is completely anonymous so your business details do not get published for general viewing.
Payroll
Are you tired of doing your payroll, worried you are not doing it properly, fretting because your manual system means staff holidays and payments are not being recorded correctly.
Do all your employees have written employment contracts as they should?
Shelley Evans is our payroll pro so give her a call and she will be able to help you.
ACC Management
In response to client feed back and because ACC seems such a nightmare for you we are about to launch our ACC Management Service. For a small annual fee, each year we will do a review of your ACC type and cover, ensure ACC have the correct classification code, and are using the correct liable earnings figure among other things.
For further information and for us to help you manage the ACC “nightmare”
Tips and Tricks for buying a Rental Property
Talk to us at Make$ Cents first before signing any agreement for sale and purchase as we can advise you on the best ownership vehicle to maximise the benefits, and do the sums for you so you know what it will cost both in the short and long term. Get a complete property valuation done including chattels – we recommend ValueIt so contact us for their details. This could be very important bearing in mind the “talked” about changes to the claiming of depreciation on rental properties.
Do your homework –
- how much will you need to borrow?
- will your bank lend you the money?
- where will you find the tenants?
- will you use a property manager?
- does it need work and money spent on it before renting it out?
- will you have to prop it up every week and by how much?
- how much are the rates and insurance?
Remember, first step is to talk to us. We are here to help.
Contact us on 04 528 6123 or email at contact@makescents.co.nz
