- First, we email you a link to the online tax questionnaire.
- Once complete, we’ll then send you a copy so that you know what to send us.
- You then either email your info to firstname.lastname@example.org or send it via courier (let us know and we'll send you a bag to return to us. You just call the courier on their toll free number, and they collect it from wherever you tell them to). Once we receive your info, we then scan it and courier it back to you.
- We then send you an invoice via Xero.com for 50% of the job.
- All info is transferred to secure online storage.
- The project is created online on a project management website, and an account setup for you and/or your LTC in Xero.com (for more info on Xero.com, please see this article). Let us know if you're interested and we'll send you a free invite.
- Our accounting staff complete the processing, accessing the data from secure online storage and using the project management website as a central unified source for posting queries and receiving replies. Once complete, the processing team leader checks and reviews the work and then notifies the filing and checking team leader. They review the statements, and then notify the Practice Manager.
- The Practice Manager or the Principal then reviews the draft financial statements. The second 50% invoice is issued.
- Drafts are then sent to you for review (see how to understand your financial statements), adjustments made, and then we send you the final version of the financial statements.
- Next returns are queued to be filed online with Inland Revenue and checked again by the filing and checking team.
- We send you a copy of these returns for your records and for you to sign and return back to us.
- IRD processes the returns.
- Post-completion, a survey may be sent to you asking for feedback on how we performed. We also make recommendations as to any changes and follow up with a personal review as required, either by phone or in person or email.
Timeframes - How Long Does It Take?
- 2-3 weeks before - tax questionnaires sent out via email
- 1 week before - 1st invoice sent out via email
We'll advise you in February via email when this is.
- 1st of the month - all data should be provided by you by this date; processing starts
- 3-4 weeks later - work completed to draft stage; second invoice issued
- 7 working days later - 2nd invoice paid, draft financial statements sent to you for review
- 7 working days later - changes made as required, confirmation received from you to file with IRD
- 1-2 weeks later - tax returns filed
- 1-12 weeks later - IRD processes returns.
Please note that these guidelines are indicative only and that at peak times of the year e.g. May-October, it will often take longer. However as a rough guide, from the date of invoice issuance to filing of tax returns we allow at least 8 weeks, subject to the disclaimer above. We trust this helps take some of the mystery out of the process. Please contact us with any questions!
Other FAQs you might have:
RENTAL PROPERTY: WHAT RECORDS DO YOU NEED TO KEEP?
USING ACCOUNTANCYONLINE.CO.NZ/MY TAX QUESTIONNAIRE
HOW DO I DOWNLOAD TRANSACTIONS FROM MY BANK'S ONLINE INTERNET BANKING?
WHAT IS XERO.COM?
COMMON QUESTIONS ABOUT YOUR TAX RETURNS
COMMON QUESTIONS ABOUT YOUR FINANCIAL STATEMENTS