Tip #5 Establish a monthly pay cheque. I understand that your cash flow fluctuates up and down. That is why this goes hand-in -hand with Tip # 3 – Cash Flow Statements. To assist any client, we need to know what money you can count on each month. It should not be based on your best… Read More…
Posts from July, 2013
Tip # 4 for Managing Cash Flow for Entrepreneurs
Tip #4 Don’t misuse HST/GST collected. We have worked with several entrepreneurs who get behind in submitting their HST/GST because they have not kept the money separate and used it for something else. In some cases, I have seen their business accounts frozen by CRA. To prevent this, open up an account specifically for the… Read More…
Tip # 3 for Managing Cash Flow for Entrepreneurs
TIP # 3 Make sure you have a Cash Flow statement. Why you ask? Since you already receive the balance sheet & income statement from your book Keeper or accountant. The balance sheet is a snapshot of a company’s financial resources and obligations at a single point in time, and the income statement summarizes a… Read More…
Tip # 2 for Managing Cash Flow for Entrepreneurs
The 2nd Tip for you is based on past experience with both clients and professionals but a very crucial part of the Cash Flow equation. Maintain accurate financial records. I highly recommend you work with both a bookkeeper and an accountant on a regular basis. You need accurate & timely financial data so that you… Read More…
Tip # 1 for Managing Cash Flow for Entrepreneurs
As a Financial Planner who specializes in Cash Flow, many of my clients are entrepreneurs who are passionate about what they do. Many wear multiple hats: CEO, Book Keeper, Sales manager, and HR manager. Before we can create a personal financial plan for our clients, we must first do a cash flow analysis. Many financial… Read More…