4 / Check The Kiwibank 'Available Balance' In Preparation For Payroll

1. Log into Kiwibank

2. Note down the Available balance for the Business Edge-00 account - this is Savvy's main account and where all wages are paid from

3. Check the Payments and transfers in the next 7 days section to see if there are any automatic payments or direct debits due to go out on the same day and/or day after the payroll

4. Check Xero for any important bills that are due to be paid on the same day and/or day after the payroll:

• Log into Xero > Purchases > Awaiting Payment

• Sort the bills by Planned Date to see which bills are due to be paid next (in date order)

5. Check Xero for any possible sales invoices that you are expecting to be paid:

• Log into Xero > Sales > Awaiting Payment

• Sort the bills by Due Date to see which invoices are due to be paid next (in date order)

6. If the available balance in Kiwibank does not cover the payroll you have drafted, payments and transfers due to come out of Kiwibank AND any important bills that are due to be paid on the same day or day after the payroll, then you will need to include a suggested amount to transfer in the following message template - send this as a WhatsApp message to Lance:

BALANCE

[Kiwibank available balance]

PAYROLL

[Includes/excludes Jo's Salary]

[Includes any bonuses, if applicable]

RECEIVABLES (if applicable)

[Update on receivables we are expecting and/or overdue debtors]

PAYABLES (if applicable)

[Note whether or not any automatic payments, direct debits and/or important bills are due to be paid on the same day or day after the payroll]

TRANSFER (if applicable)

[If applicable, suggest how much needs to be transferred to cover the wages]

Example

AVAILABLE BALANCE

$11,335.97

PAYROLL

$XX,XXX.XX - Excludes Jo's Salary, includes June bonuses

RECEIVABLES

Currently following up overdue debtors

PAYABLES

Not expecting anything to be direct debited

TRANSFER

Suggest minimum $2K to cushion today's payroll should no other receivables come in