PocketSmith alternatives in NZ (and when SortMe is the better fit)

Budgeting tools that work for self-employed people (NZ)

The most expensive thing about being self-employed in New Zealand isn't tax. It's the deductible business expense that came off your personal credit card in November and never made it to the accountant in March. A self-employed Kiwi on the 33% marginal rate who misses $4,000 of legitimate business deductions a year is overpaying IRD by roughly $1,320 — every year. Across five years that's $6,600 of someone else's money sitting permanently in Wellington. In this episode, SortMe Resident Money Writer Hugo Jonston unpicks the unsolved part of the self-employed financial stack in 2026. Hnry takes 1% plus GST and pays you a take-home number. Solo flags real-time tax owed. Your accountant pulls it together in March. What none of them do is track the business spending that's already left your personal accounts — the Officeworks run on the personal Visa, the Adobe subscription still charging the card you signed up with in 2018, the Uber to the client meeting, the home-office portion of the power bill, the half-yearly domain rego that auto-charges in May without anyone noticing. "If the cashflow between personal and entity goes one direction (business income into your personal account), the tax tools handle it. If it goes the other direction (personal money spent on business), there's no tool watching." In this episode: * The real cost of self-employment in NZ — not the tax bill, but the deductions silently lost on the personal card every month, compounding to mid-five figures over a working career * Why the "two clean sets of accounts" story doesn't survive contact with real life — erratic business income, the laptop charger on a personal Mastercard, the sweep from business to personal to cover the mortgage * What a self-employed budgeting tool actually has to do in 2026 — hold personal and entity accounts in one app but logically separate, with the same login and dashboard * The mechanic that closes the gap — tagging a personal-card transaction to the entity in real time, attaching the receipt and a note, so the transaction lives in both places (personal cashflow stays accurate, deduction doesn't get lost) * Why receipt capture has to be five-second friction or nobody does it — mobile photo at the counter, email forward to a capture inbox, amount and vendor auto-extracted * The hero feature that retroactively justifies the subscription — a one-button March zip of categorised CSV, receipts, invoices and a cover summary the accountant can read in two minutes * The three-tool stack that actually works in 2026 — Hnry or Solo for tax, your accountant for the annual return, and SortMe Pro for everything in between * The dollar maths — roughly $1,320/year in recovered deductions at the 33% rate, plus the average $2,371.27/year SortMe finds in forgotten subscriptions, on a $399/year Pro subscription * The 30-minute setup — Akahu connection for ANZ, ASB, BNZ, Westpac, Kiwibank, Co-op, Heartland and SBS, plus KiwiSaver, Sharesies, Hatch and Kernel; create the entity workspace; spend a Sunday backfilling three months; tag as you go from there Read the full article: sortme.com/post/budgeting-app-self-employed-nz

Introducing Entity Management: your trust, your rental, your side business all in SortMe

If you've got a trust, a rental or a side business, you know the March routine. Your accountant emails asking for the year's transactions, the rental statements, and "any receipts you've got." You lose a weekend exporting CSVs from three different banking logins and diving through 100,000 emails looking for receipts. Then a fortnight later comes the harder email: what was that $1,840 Bunnings charge in August for, the rental or the house? In this episode, SortMe Founder & CEO Carl Thompson introduces Entity Management — the most-requested feature in SortMe's history, built to close the no-man's-land between personal finance apps (which pretend your entities don't exist) and accounting software (overkill for someone who just needs their books kept separate and tidy). Each trust, rental LTC, company, partnership or sole trader sits as its own set of books inside SortMe, right next to your personal money. The headline payoff: a one-click End-of-Year Accountant Pack — a single ZIP of per-account CSVs, receipts, notes and a cover page, all reconciled to your bank balance with discrepancies flagged. Chief Customer Officer Charlotte Barraclough: "This is comfortably the most-requested thing I hear from our investor and small-business customers… they love SortMe for their personal money, but they've been forced to run a second app, or a spreadsheet, for the entity side. They've been waiting for us to close that gap, and now we have." In this episode: * The March routine Entity Management is built to kill — exporting CSVs from three banking logins, hunting for receipts, and not remembering whether the August Bunnings charge was the rental or the house * The one-click End-of-Year Accountant Pack — a single ZIP of per-account transaction CSVs, every attached receipt, your transaction notes and a cover page, all reconciled to the bank balance with discrepancies flagged up front * Why this isn't full-blown accounting software — and why Carl thinks Kiwi households with a trust or a side business live in the no-man's-land between personal finance apps and Xero-grade tools * Create an entity in a few minutes — name, type (Trust, Company, LTC, Partnership, Sole Trader or Other), description, avatar, and financial year-end (defaulting to NZ-standard 31 March) * Bind your bank accounts once and SortMe tags every transaction automatically — and backfills your history retroactively with a live progress bar, so the entity's books are complete from day one and you can finish the last EoFY * Receipt prompts on every business-sized spend ($500+) without a receipt — snap it as you go, instead of reconstructing twelve months of paperwork in March * The per-entity card view — accounts, this month's transaction count, net in and out, outstanding receipt prompts — one click deep-links to that entity's transactions with personal spend excluded * The whole-app entity filter — toggle "Personal" for true personal-only, or pick specific entities, with nothing filtered by default so the full picture stays intact * Available now on SortMe Pro — set up your first entity today and let SortMe backfill the rest Read the full article: sortme.com/post/introducing-entity-management

Should I be using a trust? When a family trust is the right move?

A decade ago, as Opes Partners' Ed McKnight puts it, "every man and his dog had a trust." That default has quietly collapsed — three regulatory shifts (the Trusts Act 2019, the 39% trustee tax rate, and tighter IRD disclosure) have raised the bar for needing one. But every law-firm page online still answers the same generic question: what is a trust? That's almost never what a household actually wants to know. The real question is sharper: should I be using one, and if so, when? In this episode, SortMe Founder & CEO Carl Thompson puts that question to three NZ advisory firms who field it every week — Lighthouse Financial, Opes Partners and Naked Finance — and gets the honest answer most law-firm pages won't give you. The panel separates the two motives people conflate (tax efficiency vs asset protection), explains why the 39% trustee rate hasn't actually killed the income-splitting case — "when you distribute any cash flow out to the beneficiaries of that trust, it is taxed at their marginal rate. So it hasn't changed the advice too much" (McKnight) — and lays out who genuinely needs a trust in 2026 versus who's just buying expensive paperwork. In this episode: * Why the "every man and his dog had a trust" era is over — and the three regulatory shifts (Trusts Act 2019 disclosure rules, 39% trustee tax rate, tighter IRD disclosure) that raised the bar for needing one * The crucial detail on the 39% rate most articles get wrong — it taxes income retained inside the trust, not income distributed to adult beneficiaries at their own marginal rate (10.5% up to 39%) * Reason one — tax efficiency: why a trust is a structure property investors usually graduate into (typically the third or fourth property, once the portfolio is positive cash flow) rather than start with * Reason two — protection: Lighthouse's Vaishnu Krishnan on shielding inheritances from late-teen/early-twenties relationship breakdowns; McKnight on business owners needing it from property number one; Naked Finance's Jamie on intergenerational wealth — "$10 million invested… provides an income to the beneficiaries that can be distributed on an annual basis without eating into the capital" * When it's the wrong tool — Jamie's blunt take: "for mum and dad investors, a trust really is just unnecessary complexity" — and Krishnan's rule of thumb that a simple estate and uncomplicated family dynamics can usually be handled with a Will alone * The pre-legal checklist the panel would run before you book the lawyer — what are you actually trying to achieve, do you really need it, what does your portfolio and risk picture look like, and would simpler structures (will, s21 contracting-out agreement, joint ownership, KiwiSaver nominations) do the job * The biggest misconception clients arrive with — that a trust is a magic shield and the assets are still really "yours" — and how confusing ownership with control can have a trust ruled a "sham" * The "we already have one" question — when a trust set up years ago for a reason that no longer applies is just an annual bill * How SortMe's entity management feature tracks assets, liabilities and tagged transactions across personal name, LTCs, companies and trusts — and turns end-of-financial-year from days of reconstruction into a clean handover to the accountant Read the full article: sortme.com/post/should-i-be-using-a-trust

When to see a financial advisor in NZ (and when it's still too early)

Search traffic for "when to see a financial advisor" in NZ has doubled in the last year. The question almost every SortMe user eventually asks is some variant of: is my situation complicated enough to warrant an advisor yet? The honest answer, says SortMe Chief Customer Officer Charlotte Barraclough, is rarely about the size of the portfolio — it's about whether the decisions on your desk have enough trade-offs that a specialist will save you more than they cost. In this episode, Charlotte walks through the six situations where seeing an NZ financial advisor almost always pays, the signals that mean it's probably still too early, what separates a good first meeting from a bad one, and how getting your accounts into SortMe before you book changes what the paid hour is actually for — "Walk in with the numbers, and the hour you've paid for goes to the decisions you actually came to discuss — KiwiSaver fund switch, mortgage strategy, the rental, the inheritance, the insurance gap — not to the data entry that gets to those decisions." In this episode: * The six situations where a financial advisor almost always pays — mixed business-owner income, more than one property, 10–15 years from retirement, a major life event, dependants who'd be in trouble, and actively diversifying out of a concentrated position * The opposite signals — early career, no dependants, PAYE income, KiwiSaver in a fund type that matches your horizon — and why the marginal dollar is better spent on low-cost index funds and a Sorted Smart Investor fund-type review * What a good first meeting looks like (questions before recommendations, FMC disclosure statement, fees named in specific numbers) versus a bad one (product pitched before position is understood, urgency, selling instead of asking) * Why the first hour of any new advisor engagement is almost always data gathering — and what gets handed over when you connect your accounts to SortMe via Akahu plus KiwiSaver, Sharesies, Hatch, Kernel, and property values * The one-page financial profile SortMe builds automatically — net worth by asset type, cashflow surplus/shortfall, KiwiSaver provider/fund type/contribution rate, debt structure with next refix date, non-KiwiSaver investments aggregated, and recurring commitments * The trigger moments SortMe flags inside the app — KiwiSaver fund mismatch on a long horizon, property concentration over 85%, business-owner income complexity, a mortgage fix date within 6 months — and how the partner-advisor match is made on fee structure, specialty, and values alignment * Why most households who get the picture visible discover one of two things — either it's simpler than they thought and a $2,500 advisor fee isn't justified yet, or it has more moving parts than they realised and the advisor conversation is overdue * The team-of-people part most personal finance apps don't do — free product, KiwiSaver, insurance, mortgage, and platform conversations for SortMe users, and warm introductions only to holistic practices Read the full article: sortme.com/post/when-to-see-financial-advisor-nz

The SortMe Cashflow Health Score: what it is and how it's calculated

Most NZ households know their credit score matters when they apply for a mortgage — but the number that actually runs their life is the one they look at once a month and interpret from vibes. Apps tell you how much you spent. Banks tell you what your balance is. Neither tells you whether the cashflow position underneath is healthy or quietly fraying. In this episode, SortMe Resident Money Writer Hugo Jonston breaks down the Cashflow Health Score: a single 0–100 number that combines whether you're living within your means with how big your cash cushion actually is — and why those are the only two things that need to be in the headline. SortMe Founder & CEO Carl Thompson puts it bluntly: "Your credit score tells a bank whether you're safe to lend to. In no way does it represent how good you are with your money. Your Cashflow Health Score tells you what shape your household cashflow is actually in. A much more meaningful metric to focus on." In this episode: * Why a single number — and why these two questions (living within your means, and how long you'd last if income stopped) capture almost everything that matters * The Spending sub-score (60% weight): how the surplus ratio maps to the 0–100 scale, why spending exactly what you earn lands around a 30, and why saving roughly $1 in every $5 caps you at 100 * The Buffer sub-score (40% weight): how cash on hand divided by monthly expenses maps to the score — no buffer scores 0, one month scores 40, three months 80, six months 100 * The low-buffer penalty — why a household with less than one month of cash gets the combined score multiplied by 0.5×–1×, and why this is the fastest lever for most people * What counts as a "cash account" — and why KiwiSaver, credit limits, offset facilities, and IRD balances are deliberately excluded from the buffer half * Why the score is forward-looking and annualised — a planned $5,000 holiday in March drags today's score down, because that's what you're actually committed to spending * The five bands (Excellent 86–100 down to Poor 0–30) and why you can't reach the top band on a great surplus ratio alone * Four things the score is not — not a credit score, not a complete financial health rating, not a judgement, and not static (it recomputes on every page load) * The two honest levers for improving it: lift the surplus ratio (spend less or earn more) and grow the cash buffer (one-month, three-month, six-month breakpoints) Read the full article: sortme.com/post/cashflow-health-score-nz