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Business, rural and personal accounting

We’ve been providing comprehensive accounting and business advice for years. The new team at Fenwick Accountants deliver on-time accounting solutions to individuals, sole trader businesses, companies and trusts.

Servicing clients nationwide, Fenwick Accountants offer solutions for your business, rural and personal accounting needs. Our experienced team have backgrounds in corporate, government and many business sectors.

What makes us different?

Ian and the team provide you with a dedicated Client Manager, backed up by a strong team. Your Client Manager will work with you from end to end and are always at the other end of the phone or email. Given the lengthy tenure of our team, we think that is a promise we can stand behind.


Our team have comprehensive accounting and business experience across a diverse range of industries. From day-to-day accounting questions to setting up new ventures or property developments, we can help you make smart, informed choices.


We offer tailored personalised solutions.

You decide how much or how little help you need from us. We support customers that still send the proverbial shoebox of receipts, to others fully embracing accounting software solutions. Discuss with us how we can help you re-prioritise the jobs you’d rather avoid and spend more time on those you love.

Our Services

Our Team

Every member of the Fenwick Accountants team brings their own skill set to help our clients every day.

Ian Fenwick

Chartered Accountant/Director


Ian has been living and working the in Kapiti Coast for over 12 years and is proud of the community and what it stands for. 


Ian works with a wide range of businesses ranging from retail, property managers and farmers. With an emphasis on helping businesses and organisations make the right decisions at the right time, his approach is focused on ensuring he delivers value for business owners and decision-makers. Ian brings expertise in business acquisitions, residential and commercial property investment, business plans and forecasting, and company amalgamation.


John Molloy

Associate


With over 35 years of Advisory Accounting and Compliance experience, John is living proof that you grow and prosper with your clients. Many of John’s clients have been with him for the long haul seeing several businesses through generations of partners.


John delivers end-to-end business planning and accounting solutions.

Tala Staples

Client Manager


Born in the Ukraine, Tala started her career in multinational accounting firms after completing her MBA from the International Management Institute in Geneva.


Since emigrating to New Zealand from the Ukraine in 2001, she has gained expert knowledge in New Zealand’s business environment and tax laws through working for local companies as well as running her own tax agency. Tala is proficient with MYOB and XERO accounting systems. Living on a lifestyle block in Te Horo, Tala likes growing native trees, walking, and watching her daughter’s equestrian activities. On a rainy day, she enjoys ballroom dancing and playing the piano.

Anita Hooper

Administrator

Anita has been making our practice tick for many years. She supports our clients with jobs like payroll processing, bill payments, invoicing and DX mail, as well as keeping Ian on his toes and the back-office humming.

Fenwick Accountants News

By Ian Fenwick 16 Sep, 2022
If you’re looking to scale your business, you’ll need to spend more time working on it than in it. Finding ways to leverage your time is critical, and outsourcing your least favourite tasks is a great way to do this. Things you should consider outsourcing in your business: 1. Digital marketing. From your content strategy to your social media accounts, if this is not a strength of yours, outsource it! There are many freelancers who have multiple clients at this level, who’ll likely be more knowledgeable regarding SEO and much more effective and efficient in general. 2. Graphic design. Your brand is a key reflection of your product offering. If you don’t have the skill, software, and time to do this well, you’ll potentially damage your brand. 3. Scheduling and administrative tasks. A ‘Virtual Assistant’ can help you manage anything from your appointments to flights, emails, and beyond (virtually anything admin). At a lower level, consider adopting software that’ll automate or minimise processes, such as self-booking appointment apps where your clients can schedule a meeting with you, e.g., Calendly. 4. Customer feedback. Many businesses miss this valuable opportunity to connect with customers and improve their experience. A ‘Virtual Assistant’ can help, but there are also apps (such as Ask Nicely) that automate the process of asking for feedback; directing positive responses to leave you Google reviews and negative responses back to you to quickly resolve! 5. Inventory management. Too much stock can cause cashflow issues and affect sales price (due to resulting discounting), but not enough equals lost sales. Outsourcing inventory management can help you minimise stock-carrying costs and allow you to focus on more important things. 6. Payroll. This task is best left to the professionals. Outsourcing payroll will minimise the risk of inadvertently getting it wrong, while saving you time and, most likely, reducing the cost of this task. Utilising a payroll product is another great option. 7. Bookkeeping. Do bookkeeping tasks often infiltrate your evenings or weekends? Does the stress of these tasks piling up occupy your mind? Outsourcing these tasks (and the stress) to someone else can be liberating and cost-effective. 8. Virtual CFO. If you find budgeting and forecasting a struggle, a ‘Virtual CFO’ can wear this important hat for you. They’ll monitor the financial health of your business and provide a fresh perspective which will help you make better strategic decisions and improve your results.  Tempted to start outsourcing some of your tasks to free up your time? We can help by taking the last three roles off your hands! We work with a number of our clients in this way, allowing them to focus on what they do best. While outsourcing takes a little bit of setting up, it’s worth the short-lived pain for massive gain. We don’t have to be jacks of all trades. In fact, this thinking often leads to begrudgingly doing many things poorly rather than doing a few things really well – and enjoying doing them. Work to your strengths, outsource the rest! Need help? Get in touch.
By Ian Fenwick 15 Sep, 2022
Very few people love the accounting aspects of their business. Here are a few ideas to keep your clients and suppliers happy while streamlining processes for yourself. 1. Create realistic estimates. This will help you keep clients happy and expectations in check. Have a look at past projects, add up the costs, and compare to current requirements to get an accurate picture of how much to charge. 2. Simplify time recording. When timekeeping is a chore, it’s hard to keep up with it. There’s now very useful software that makes it simple to enter time and switch between jobs. 3. Get reimbursed for expenses. If there are likely to be expenses on a job, let the client know at the start. Then, when you make sure you’re reimbursed for them, clients won’t mind. 4. Stay on top of cash flow - and get access to credit. Keeping a close eye on your cash flow means you can plan for the future - even when the whims of clients can make that uncertain - and you’re much more likely to have access to lending if the bank and other creditors can see there’s money around the corner. 5. Minimise payroll work for your ever-changing staff and freelance roster. Keeping payroll simple and integrated with your accounts means happier staff and better cashflow forecasting. Freelancers need consistency more than anyone, so pay them promptly to be sure you always have access to top talent.  With the right technology in place, many of these tasks can be automated so you can get on with your job. We can help you build a system to manage all of the above.
By Ian Fenwick 14 Sep, 2022
Do you know how much it costs you to produce each product or service in your range? The better you understand this cost of sales – or cost of goods sold (COGS), as it’s more commonly known – the more ability you have to control your company’s profitability. When you know your COGS, you can set the right price point, control your profit margins and ensure that you’re maximising your gross profit. But to do this, you need to understand COGS and how it impacts on your financial management. Understanding your COGS To take one of your company’s products or services from inception to delivery, you will incur a number of costs. For example, if you’re a manufacturing business, these costs might include buying in raw materials, direct labour costs, the overheads for running the machinery in your factory, the costs of delivering the products, and the sales and marketing expenses needed to sell the product to your target customers. For you to manufacture a finished product and to generate a sale, all these costs are a necessary part of the process. They’re the direct costs of producing your goods for sale. You calculate your COGS number for the period by looking at the value of your opening stock (or inventory), adding the cost you’ve incurred to produce the goods, and then, subtracting the value of the closing stock balance. The COGS formula looks like this: Opening Stock + Purchases - Closing Stock = COGS So, if you started with an inventory of $10,000, this is how you’d calculate your COGS: Opening Stock: $10,000 Purchases: $25,000 Closing Stock: $8,000 COGS: $27,000 Reducing your COGS to boost gross profits The more sales you make at a given price, the higher your revenue (income) will be. Deducting your COGS number from your revenue figure gives you your gross profit – and gross profit is a key metric for tracking the health and profitability of your business. A high COGS number reduces the size of your profit margin, and, in turn, a small margin will start to have a negative impact on your gross profit. Being able to control and manage your COGS, and its impact on your gross profit, is a vital skill for any product-based business. Here are some ideas for improving the profit impact of your COGS: Reduce your supplier costs – If you can reduce the size of the purchases made to produce your goods, that means less expenditure and less impact on your profit margins. Try shopping around for cheaper suppliers, or negotiating better prices with your existing suppliers to bring down costs. Streamline your production process – the more complex your production process is, the more overheads and production expenses there will be. Taking a lean approach helps you to continually evolve your processes and remove the extraneous elements – cutting costs while still delivering a quality product. Increase your prices to boost your margins – if your COGS number is eating into your profit margin, one way to resolve this is to increase your price point. This will help to increase income and boost your margin but does require caution. If prices get too high, this can damage existing customer relationships and make you uncompetitive in the market – so think carefully about any price increases before taking action. Talk to us about improving your gross profit If you want to boost your gross profit and get COGS under control, come and have a chat with us. We’ll look over your expenses and overheads, and will look for the opportunities to reduce your goods-related purchases and push for a better profit margin on your products.
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