Engine Room Chartered Accountants Blog

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Mark-ups and margins: Making a profit without the mess

As customers, we all know the frustration when we feel products have been priced substantially higher, creating a very expensive purchase price. What exactly is a mark-up in accounting terms and how does it differ from a profit margin?

11-Dec-2017 Engine Room

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Office Closure Dates

The Engine Room offices will be closed over the holiday period. On December 22nd we will be closing the doors at 12:30pm. We will reopen for business on January 8th at 8:30am.

06-Dec-2017 Debtor Daddy

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How to create free cash flow in your business with zero effort

Most businesses are slack when it comes to staying on top of their receivables. It’s not untypical for invoices to get to 30 days or more past terms before action is taken… and there’s plenty of invoices that get to 5, 10 or 30 days past terms without any action being taken.

04-Dec-2017 Engine Room

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What is the Internet of Things?

I’ve been hearing this term a lot lately, the “internet of things” (IoT) and it’s likely we’ll all be hearing it a lot more in the future. But what exactly is it?

No growth in retail sales for the September Quarter

The latest Retail Radar survey indicated that 57 per cent of retailers did not hit their sales targets for the quarter ended 30 September.

This poor showing coincided with an almost non-existent growth of 0.1 per cent in seasonally adjusted sales according to the Retail Trade Survey released by Statistics NZ last week. All the data suggests that consumer spending has been increasingly constrained during the first nine months of the year. Economic uncertainty associated with the General Election, a stall in house price growth in Auckland, and increased pressure on household budgets from the likes of insurances and rates are all taking their toll on the ability and willingness of consumers to spend. The retail sector is additionally pressured by competition from foreign websites, which continue to have a price advantage of at least 15 per cent because the Government has not moved to close the de minimis tax loophole.

29-Nov-2017 Xero

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Digital or die: always stay one click ahead

While it’s easy to proclaim that technology is king, how is this actually reflected in practice? The fact is, small business owners are keen to join the digital revolution but need a little guidance to do so. Over half (54%) of 1,000 small business owners surveyed have either already started using online accounting or are waiting for their advisor to suggest it. Conversely, two thirds (67%) of advisors believe their clients would follow their lead if they adopted the change.

5 current cloud computing trends in business

For most businesses the question is no longer whether it is appropriate to adopt a cloud service, but rather when is the right time and what services to move.

22-Nov-2017 Engine Room

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The Business of Planning

Imagine you’re going on a journey. What are the two key things you need to know before you leave?

Vodafone email shutdown: Steps for your business

A batch of common email addresses, including Paradise, ClearNet and Vodafone, will be switched off at the end of November when Vodafone stops offering email services.

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