Mercier Mediation and Financial Services

Nova Scotia, Canada

Tip # 2 for Managing Cash Flow for Entrepreneurs

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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 can make good business decisions.  It is important that you are involved with the accuracy of the financial documents created by someone else.  Ultimately, you are responsible for the validity of these documents.  I received two phone calls  on the 17th of June (deadline for 2013 for tax for self-employed Canadians) from clients who had not heard from their accountants until that morning and, in both cases, they found many errors. Do not wait until the last minute, there are many excellent accountants and bookkeepers in our area—I can refer you someone.

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