Posts from July, 2013

Tip # 5 for Managing Cash Flow for Entrepreneurs

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…

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…

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