BNZ Bank Feeds

 All Centres who bank with BNZ will need to change their bank feeds in Xero.  The deadline for this has been extended to 20th September.

Switching should take less than five minutes.  Please follow the instructions below:

  1. Have your internet banking login credentials on hand.
  2. Ensure your BNZ accounts are linked to your BNZ internet banking profile.
  3. From Xero dashboard, select Accounting (in the navigation bar) >Bank accounts>Manage accounts>Update Bank Connection for each of your BNZ accounts.
  4. Follow the instructions as directed.

 For more information, check out these instructions or view this video.

For NZ queries please contact BNZ directly via www.bnz.co.nz if you have any questions for Xero, please get in touch with Xero Support.

End of Financial Year

The 31st of August is Playcentre’s financial year end.  We will be sending out a short questionnaire to all Treasurers in late August to be completed in September.  The main things you will need to do before completing the questionnaire are reconciling all transactions in your Centre’s bank accounts, capitalising fixed assets and running depreciation.  Once you have done that, the national Finance team will take the figures from your Xero accounts and consolidate them into the Playcentre Aotearoa Group Accounts.  This year our auditors are requiring documentation to support all bank and investment balances as at 31 August 2023 (bank statements or screenshot of internet banking balances).  The questionnaire will include details of how to send this information to Finance for collation and dates this will need to be completed by.

If you are behind in your bank reconciliation, now is a good time to catch up.  Another good thing to check is that your fixed asset capitalisations are up to date.  If you get stuck, email [email protected] .  Get in early, as there will be delays if everyone needs help at once in September!

Equity Reporting

Thank you to all Playcentres who provided information on how you spent your 2022 Equity funding.  We have collated this and provided it to the Ministry of Education.  Please note that, to comply with licensing requirements, you must provide this information to your Centre’s Committee.  https://www.education.govt.nz/early-childhood/funding-and-data/equity-funding-for-early-learning-services/#Reporting

For 2023 Equity Funding reporting, please start looking through your expenditure for the year ending 31 August 2023 to identify what equity funding has been spent on (this applies only to Centres which receive Equity Funding).  Finance will be in touch following year end with the process for collating this information for the Ministry of Education.

Space and Babies Can Play hosting

A reminder, if your centre hosts Space sessions or Babies Can Play, you need to raise an invoice for $20+GST per session and send these to Playcentre Aotearoa Accounts Payable [email protected].  Please invoice once a term.  It would be great to have this up to date for financial year end.