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Every business owner has heard the saying that, “cash is king”. However, too often, businesses find themselves short on liquidity at the times they need it most. Monitoring and understanding an enterprises’ cashflow provides cushion in times of hardship and ensures that your employees are paid the right amount on time.
Read on to learn a few do’s and do not’s that will help you retain a healthy cash reserve and protect your business from severe financial and even legal censure.
Don’t let cash-flow pitfalls be the downfall of your entrepreneurial enterprise. Learn accounting best practices from a team of accountants who have been serving Canadian entrepreneurs for several decades. Contact Hogg, Shain & Scheck to avoid and conquer cash-flow pitfalls.