Accounting, tax solutions on target
Just as the online world has transformed the way people do business, so too has it changed financial record keeping and the practise of accountancy.
Target Accounting, based in Mosgiel, has fully embraced today’s fast changing environment.
Specialising in accounting, taxation, business advice and consultancy, Target Accounting is a nimble operator providing timely, tailored and cost effective services.
Target’s managing director Justin Stent says the rise of accounting software such as Xero and MYOB cloud-based packages has made the task of tracking dollars and cents much easier.
“When I started out, you’d sit down with your calculator and manually process transactions. Our raw data was chequebook butts and shoeboxes full of receipts. Now most of our data can be imported straight to an online cloudbased system.
“It means we have more time for our clients and can focus on meeting their particular needs, providing them with the right specialist advice and practical solutions.
“With online systems, information can be downloaded daily and used to generate up to the minute reports to support decision-making. You can see the results of different marketing approaches so much faster. So we can offer a much more personalised approach – we’re more like a business partner.”
Online advances have also fast-tracked Target’s staff training practices, with webinars now a popular way for staff to stay up to date, for example with tax law changes. With more than two decades of experience in the accounting and business field, including 10 years working for his father Frank (now Target’s senior accountant), Justin has a deep appreciation of the value of client service.
“Every client has different needs. We work hard to develop close and friendly relationships, so they can text us or call us whenever they need advice.
“We treat everyone as an individual. We do a lot of compliance work around GST, PAYE and income tax. People’s needs change as they get older too so we work with investment advisors to provide support for our older clientele.”
Target caters to New Zealand’s small to medium business sector, with clients including farmers, builders, construction companies, sole traders, retailers and property investors/ developers.
Their team also assists international clients with New Zealand-based operations.
Along with Target’s head office in Mosgiel, the company has offices in Queenstown and in the North Island (Mt Maunganui) to meet demand for accountancy services in these high growth areas.
“We have become particularly specialised in the construction industry, which is picking up strongly in Queenstown.”
Building strong long-term partnerships with clients is a key goal for Target Accounting. That means building dynamic rather than static relationships that reflect changing business needs.
“We’ve got some clients who have grown their businesses from one or two staff to sixteen. We have the skills and experience to support that growth and provide clarity on how their business is performing.”
Along with supporting their commercial clientele, Target is also building strong bonds with the local community.
Mosgiel staff members regularly volunteer at the town’s food bank and Target’s te am is supporting community groups through provision of low cost financial reviews.