In this article we have the latest and most relevant Covid-19 related information. We’ll continually update it as the situation progresses, outlining what these changes mean for you. Make sure to check back regularly to stay up to date, and don’t hesitate to get in touch if you have any questions.

Our team is still working online and available to respond to emails and requests, but we are expecting a high volume of communication. We ask for some patience as we expect a higher volume of customer requests.

We currently have two helpful videos available over in the Sidekick Business Lounge, which were both recorded since the lockdown announcement. The first is an update from Ric where he talks about how to get your Xero up to date, code up your statements, reconcile your bank and engage really well with your suppliers (available to watch below). In the second video Ric is joined by Matt Vaughn from MV Corporate Health where they discuss wellness throughout lockdown. 

For the meantime, we have a few tips to help keep things moving steadily and to minimise disruption:

  • Get your Xero Ledger up to speed.
  • Check what bills you’ve got to pay in the upcoming weeks. It’s good to have an awareness of what payments are coming up, so you can plan accordingly.
  • It may also be a good time to review your financial situation. We can help with this, but take a look at how things stand and if you’ll need to apply for the wage subsidy.
  • It’s also good to think about suppliers and customers. There may be some disruptions to the supply chain – so now may be a good time to touch base with your contacts.

Sidekick Legal HR Update:

  • If you qualify for the wage subsidy and apply for it, you need to remember that you cannot take any action with respect to restructuring and/or redundancy during the period you receive the subsidy.
  • If you don’t qualify for the wage subsidy then you need to continue to pay your employees unless they explicitly agree to a variation in hours/remuneration. If that is the case then get them to confirm the variation in writing before you reduce hours/pay.
  • If you cannot afford to pay your team but they agree to use accrued leave then you can pay them accrued leave for the period they agree to. You cannot force your employees to take this time as accrued leave, it can only be done by consent and agreement.
  • If you do not qualify for the wage subsidy but cannot afford to continue paying your employees at full or reduced pay, and they don’t agree to a variation of their employment then we urge you to take some urgent legal advice about potential restructuring/redundancy options.
  • We advise that you also keep records and evidence of loss of profits, such as cancelled job sheets, emails indicating that jobs are cancelled/deferred etc. This way you will readily be able to evidence the required loss of profits.

When dealing with a lockdown, it’s important to think about self preservation without being selfish. During these trying times, it’s ok to put yourself and your business first. We want you all to come out the other side as unscathed as possible. Please get in touch with any enquiries, we’re here to help.

Check back here for any updates as they come available. If you are unsure of anything, please make sure you contact your accountant.