1.   Business impact, including:

• Staff training, Marketing
• Sales Pricing and Invoicing
• Contractual issues around Purchases and Sales related contacts
• Profit Margins & Cash Flow & Computer Systems and Procedures

2.    Compliance Impact, including:  

• Ensuring the accurate and timely completion of your GST returns during this transition period.  There are a number of complexities that need to be
  considered and even though we may prepare your GST return we rely on you to create the source transactions accurately.
• Ensuring a smooth and efficient year-end process that is not impacted by time consuming and costly GST reconciliations.
• Ensuring your current accounting software can issue valid tax invoices, credit & debit notes and cope with GST calculations and return preparation at both the old and new rates.

Is your software ready?

Your computer systems and applications are critical business tools and must be able to handle the GST increase correctly, both with respect to creating transactions at the correct GST rate and creating accurate reports for you, your accountants and the Inland Revenue Department. 

All software providers are releasing updates to ensure their applications will be ready to process both GST rates on 1st October 2010.  We are monitoring the upgrade plans of MYOB and Bank Link so we can help you if you have questions.   

Many clients will simply need to install new software upgrade.  For those with software maintenance agreements in place there will likely be no cost but for those without maintenance agreements or those that have lapsed upgrades will likely incur a cost.

Get our GST Rate Increase Checklist HERE  For more information new GST changes CLICK HERE  Come to our free seminar for more information            BOOK NOW  bk@boydknight.co.nz  TELEPHONE: 03 366 5848

	GST SEMINAR
Session    1	Wednesday 1 September
Session    2	Monday 6 September
Venue	Boyd Knight Ltd, 3rd floor, 208 Oxford Terrace,     Christchurch
Time	12 noon to 2pm
	Lunch will be served at 12 noon