Wellington Accountant 🎈

The firm’s experience spans various industries, including trade, retail, engineering, and services. This diversity enables them to provide tailored advice that considers the specific challenges and opportunities within each sector.

Professional Affiliations

Long + Cowan is affiliated with several professional organizations, reinforcing their commitment to maintaining the highest standards of professionalism:

• Accountants and Tax Agents Institute of New Zealand (ATAINZ)
• Chartered Accountants Australia and New Zealand
• The Governance Institute (ICSA)
• Wellington Regional Chamber of Commerce

These affiliations ensure that the team stays updated on the latest industry developments, regulatory changes, and best practices.

Community Involvement

Beyond their professional services, the team is actively involved in the community. Ben, for instance, has a passion for helping others and has been involved with Skylight, a charitable trust that provides specialized support for those facing loss, trauma, or grief.

Detailed Service Insights

1. Accounting Services

   Accounting is fundamental to every business, involving the recording, summarizing, and analyzing of financial transactions. Long + Cowan offers services that support decision-making, cost planning, and measuring economic performance. Their expertise ensures that clients have oversight over their financials, aiding in regulatory compliance and strategic planning.

2. GST Returns

   Navigating Goods and Services Tax (GST) can be complex, with common mistakes including incorrect registration and accounting methods. Long + Cowan assists clients in:

   • Accurate GST registration
   • Optimizing pricing to include GST
   • Choosing appropriate filing frequencies (monthly, bi-monthly, or six-monthly)
   • Timely filing and payment reminders to avoid penalties

3. Budgeting

   Effective budgeting is essential for future-proofing a business. The firm helps clients prepare detailed projections of future financial standings, including:

   • Sales forecasts
   • Cost of goods sold
   • Departmental expenses
   • Profit planning

   These budgets serve as tools for managerial discussions and strategic decision-making.

4. Cash Flow Forecasting

   Estimating cash flow is critical for understanding the inflow and outflow of money during specific periods. Long + Cowan provides forecasts that:

   • Identify funding needs and excess cash
   • Analyze trends in sales and purchases
   • Prepare businesses for seasonal fluctuations

5. Xero Integration

   As experts in Xero, Long + Cowan ensures that clients maximize the benefits of this cloud-based accounting software. Services include:

   • Initial setup and optimization
   • System audits and modifications
   • Integration with other applications
   • Training for staff members

   Xero features leveraged include bank reconciliation, GST returns, invoicing, reporting, inventory management, payroll, and more.

6. Starting a Business

   For entrepreneurs, the firm provides invaluable support in setting up new businesses. Their services encompass:

   • Financial and accounting advice during the startup phase
   • Guidance on legal requirements and compliance
   • Business structure recommendations (e.g., look-through companies)
   • Financial planning to set a solid foundation

7. Payroll Services

   Managing payroll can be time-consuming and error-prone. Long + Cowan offers comprehensive payroll services:

   • Processing wages and salaries accurately and on time
   • Managing timesheets, leave, and employee records
   • Ensuring compliance with tax obligations
   • Setting up online payroll systems and training staff

8. Tax Planning

   Effective tax planning is vital to avoid unexpected liabilities and penalties. The firm’s tax services include:

   • Optimization of business and personal tax bills
   • Maximizing available reliefs and allowances
   • Filing income and GST returns electronically
   • Providing clear tax letters outlining obligations and due dates
   • Acting as a tax agent, offering extended filing and payment deadlines

9. Foreign Investment Funds (FIF)

   For clients with offshore investments, Long + Cowan assists in:

   • Calculating FIF income using methods like Fair Dividend Rate (FDR) and Comparative Value (CV)
   • Ensuring compliance with tax liabilities for investments exceeding NZD 50,000
   • Gathering necessary financial data and navigating complex regulations

10. Business Planning

    A well-crafted business plan is crucial for achieving organizational goals. The firm aids in:

    • Defining vision, strengths, and weaknesses
    • Assessing internal and external factors affecting performance
    • Financial measure development to track success
    • Banking system selection aligned with strategies

Commitment to Technology and Innovation

Long + Cowan recognizes the importance of staying ahead in a rapidly evolving financial landscape. Their partnership with Xero as Gold Partners underscores their dedication to leveraging technology for client benefit. By utilizing the latest reporting and automation tools, they save clients time and money while providing insightful financial data.

Client Accessibility

Understanding the importance of accessibility, the firm offers:

• Flexible Payment Options: Tailored to meet individual financial situations.

• Free Initial Consultation: Allowing potential clients to explore services without commitment.

• Personalized Communication: Each client is assigned a dedicated accounting manager for consistent support.

Service Areas

While based in Wellington CBD, Long + Cowan extends its services to numerous suburbs, ensuring that businesses throughout the region have access to high-quality accounting services. These areas include:

• Johnsonville
• Island Bay
• Thorndon
• Miramar
• Kelburn
• Karori
• Crofton Downs
• Te Aro
• Wadestown

Future Outlook

As the firm looks ahead to 2024 and beyond, they remain committed to adapting to the changing needs of their clients and the business environment. Their focus on continuous improvement, technological adoption, and professional development positions them to guide clients through future challenges and opportunities.

Conclusion

Long + Cowan Chartered Accountants exemplifies excellence in accounting services through a combination of experienced leadership, a dedicated team, comprehensive service offerings, and a client-centric approach. Their deep roots in the Wellington community, coupled with a forward-thinking embrace of technology, make them a trusted partner for businesses and individuals alike. By prioritizing personalized service, professional integrity, and innovative solutions, Long + Cowan stands out as a firm that not only manages numbers but also fosters success for their clients.