What are the fees?
Bosspac works on a monthly and yearly subscription. Depending on your GST registration status, the fees range from $84.0 to $99.0 a month (excl. GST).
Who can use Bosspac?
Bosspac can be used by anyone who is self-employed in New Zealand – contractors, sole traders, freelancers. If you are registered as a company, you can still use us to help you with your IR3 return. For the registered companies and their returns, we recommend to check back on us later in the year.
Are you an accountant?
We are not an accountant. Think of us as your virtual accounting assistant! Someone that guides you through everything you need to do at the right time, helps you stay out of trouble and sleep well at night.
Do I need an accountant?
We’ve built Bosspac so that you don’t need an accountant to use us. But you can have one if you want to have an extra help or checks.
Do you pass my details to IRD or ACC?
No, we don’t pass any of your information to government agencies. IRD and ACC work with us to help us get all the due dates and complicated calculations right.
What about IR returns?
Bosspac will soon be able to generate information for IR returns. This way you won’t need to figure out yourself what goes in which box. We want this to be ready well before the 2017/18 IR3 return deadline on 7 July.
Can Bosspac help me with invoices?
Sure we can! We ask you everything we need to prepare the invoices for your clients. Download the invoice and send it to your client. The invoice includes all the information that IRD asks to have on an invoice.
I don't have income, yet. Is Bosspac for me?
Of course! We know it takes a lot of time, effort and resources to get to the first sale or client, and most of the self-employed will have expenses leading up to this point. Bosspac can help you to keep track, and claim the business expenses so that you can reduce your tax bill.
I have multiple income streams. Is Bosspac for me?
Yes! For example, if you receive a monthly salary with taxes paid and also have a side gig with business income, we are a perfect fit. Just don’t forget to enter this income at Bosspac.
Withholding tax - how do you deal with it?
Easy! You tell us how much you received in your bank and how much went for taxes. We deduct this amount from your tax due. Who knows – you might even receive a tax refund at the end of the financial year?
What about payments to IRD and ACC?
We estimate your expected payments to IRD and ACC. Currently, it includes ACC levies, income tax, provisional tax, GST and student loan repayments. We tell you how much and when to pay IRD and ACC so that you can transfer the money on time and without penalties. No unexpected tax bills and embarrassing borrowing from friends and family.
What about business expenses?
Bosspac helps you to reduce your tax bill. We do our best to tell you about business expenses that other people claim + how to do it correctly (we want you and IRD to be happy!)
Does Bosspac connect to my bank account?
We are working for this to be available. But if it’s a deal breaker for you, we’d love to hear from you and we’ll do our best to put it higher on our feature list. In the meantime, you can support us by encouraging your self-employed friends to use Bosspac (it will help us to cover the large upfront fee to start accessing the bank feeds).
What does public beta mean?
We want to build the product that is easy for you to use and adds value. Since Bosspac is currently in a Beta, not everything will be perfect, yet. We launch Beta because we want to make it better for you – and to do this, we need your valuable input.
I am new to self-employment. Is Bosspac for me?
Yes! As you use Bosspac, you will find useful tips and tricks that will help you start self-employment and make most of it. We have heard quite often even from experienced self-employed people that Bosspac taught them a few key things that helped reduce their ACC levy or tax bill.
Sounds great! When can I start using Bosspac?
You can do it now by signing up on our website!