1) Keep your business and personal receipts separate.
2) Keep a journal of where you go and what you spend.
3) Register your business for GST/HST, WSIB, and anything
else you need to.
4) Keep your records up to date.
5) Avoid unnecessary interest expense.
6) Keep all of your receipts in one place.
7) Record how much time you are spending on keeping track of your finances.
8) When you want to purchase something on the internet, get a prepaid credit card that you purchase at the store.
9) Do not give bank access or signing authority to your bookkeeper or your employees.
10) Sign cheques after they have been written out.
If you have any questions or comments, or tips that you would like to add, please contact us, and we will be happy to help!