New system generates easy savings

New system generates easy savings

New system generates easy savings Lloyd Evaroa


TMNZ (New Zealand’s original and largest tax pooling intermediary) has joined forces with Reckon Advanced Professional Systems (APS), a leading supplier of business software for accountants, to create a seamless way for clients to save use of money interest by integrating tax pool savings calculations into the APS tax return system.

Now, when accountants install the latest APS software update, instead of just calculating a client’s UOMI liability, with one easy click they automatically receive a calculation from TMNZ on the savings they can generate for clients by settling their tax liability using tax pooling. There’s no longer any need to re-enter data on the TMNZ website. Identifying and locking in savings for accountants’ clients has never been easier.

The new TMNZ/APS system can add value to accountants’ client services by:

• saving time and effort obtaining a quote for a client

• saving clients 30% on use of money interest costs

• eliminating clients’ late payment penalties

TMNZ’s Head of Client Services, Daniel Relf, has had some very positive feedback from accountants using our systems. One says it offers accountants a great advantage because it lets them show clients the savings they are making instantly.

“It’s so easy. You don’t have to think when payments are required. It automatically calculates the savings for you. There’s no thinking required as the system works it all out.

“And just by emailing them the information it shows, you can say, ‘If you pay this now, you’ll be able to make significant savings’.

“Clients are very receptive. Paying interest once they’ve already paid their tax is their biggest bugbear. I think it’s excellent and I would recommend the system to others.”