Wellington Chartered Accountants 🗝️

Client-Centric Approach

Long + Cowan Chartered Accountants’ philosophy centers on providing top-quality service and adding value to their clients’ businesses. Their commitment is reflected in several key aspects:

• Prompt, Friendly, Personal Service: Clients have direct access to their own personal accounting manager, ensuring consistent and personalized support.
• Plain Language Communications: The team emphasizes clear and jargon-free communication, making complex financial matters understandable.
• Fast Turnaround Times: They prioritize efficiency to meet clients’ needs promptly.
• No-Cost, No-Obligation Initial Consultations: This allows potential clients to understand the value they offer without any upfront commitment.
• Complimentary Tax and Business News: Keeping clients informed about the latest developments that may affect their businesses.

Expertise Across Industries

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

Professional Affiliations

Long + Cowan Chartered Accountants are 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 at Long + Cowan Chartered Accountants is actively involved in the community. Ben Stockbridge, 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

Accounting Services

Accounting is fundamental to every business, involving the recording, summarizing, and analyzing of financial transactions. Long + Cowan Chartered Accountants offer 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.

GST Returns

Navigating Goods and Services Tax (GST) can be complex, with common mistakes including incorrect registration and accounting methods. These Wellington Chartered Accountants assist 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

Budgeting

Effective budgeting is essential for future-proofing a business. Long + Cowan Chartered Accountants help 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.

Cash Flow Forecasting

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

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

Xero Integration

As experts in Xero, these Wellington Chartered Accountants ensure 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.

Starting a Business

For entrepreneurs, Long + Cowan Chartered Accountants provide 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

Payroll Services

Managing payroll can be time-consuming and error-prone. These Wellington Chartered Accountants offer 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

Tax Planning

Effective tax planning is vital to avoid unexpected liabilities and penalties. Long + Cowan Chartered Accountants’ 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

Foreign Investment Funds (FIF)

For clients with offshore investments, these Wellington Chartered Accountants assist 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

Business Planning

A well-crafted business plan is crucial for achieving organizational goals. Long + Cowan Chartered Accountants aid in:

• Defining vision, strengths, and weaknesses
• Assessing internal and external factors affecting performance
• Developing financial measures to track success
• Selecting banking systems aligned with strategies

Commitment to Technology and Innovation

Long + Cowan Chartered Accountants recognize 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, these Wellington Chartered Accountants save clients time and money while providing insightful financial data.

Client Accessibility

Understanding the importance of accessibility, Long + Cowan Chartered Accountants offer:

• 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 Chartered Accountants extend their 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, Long + Cowan Chartered Accountants 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.

Long + Cowan Chartered Accountants exemplify 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 these Wellington Chartered Accountants 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.