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E-Myth – “Why most small businesses don’t work & what to do about it”

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Edmonton Business Consultant | Wanting To Avoid Added Staffing.

Edmonton business consultant says that it can be super easy for a lot of your suspected fraudulent coworkers to get away with certain nefarious tasks and processes. It is going to be even harder for you to catch them.

What you have a tendency to do, is automatically trust everybody that is working from within your business and not backing everybody up and finding and knowing what everybody is legitimately doing with a little bit of research.

Edmonton business consultant also states the fact that you should make the time and take the time to actually research to see that everybody is doing their job in a very honest, very concise, and very positive way.

For what it’s worth, you might legitimately be having a lot of money walk right through your door as you sit there unwittingly doing whatever you need to get done as you are too busy to check.

Make sure that you check all of the lease products and that they have been processed in a very honest, very concise manner, and that you have not made the mistake of inputting negative or wrong numbers, putting a decimal where it doesn’t belong, etc. That can be honest mistakes, however that can cost you a lot of money as well in simple bookkeeping errors and mistakes.

The entrepreneurial myth from within small businesses is the fact that, when you go to a bank, the bank teller doesn’t ever check to see and cross-reference your signature with any of your past files.

That can legitimately treat be true and needs to definitely be mitigated. They may as well not even check them at all with the amount of time or the lack of frequency with which they check all of the signatures. You’re going to need to look at checks exactly as you would cash. They should be under lock and key. Checks are absolutely the single biggest risk of fraud in several small businesses.

Edmonton business consultant’s shares the fact that there are ways with which you can do it and keep everybody happy, and keep a sense of trust from within your small business. First of all, make sure that you have retained not one accountant, but two.

Do not rely on simply one person to do your books, your bills, bookkeeping, and accounting. Make sure that they have a backup so, in case one person is down sick, or has holidays, the other person can take over.

As well, make sure that person number one, tells person number two exactly how they have organized their files, and how they do such things. It should be a 10 them working with a lot of to accountants that will work together and that need to know each other’s processes so as not to be able to figure out exactly what is going on. It can be an inefficient business or a very up is efficient business depend on the processes that you put forth.

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Edmonton business consultant says that it might legitimately, time where you are going to have to add one more person into the fold so that they may be able to relieve some the pressure on your accountant and on your bookkeeper, potentially the same person.

What that person is definitely going to want to do is learn the processes of the other bookkeeper know how they organize things, know exactly how they do things, know where they put things etc. The reason for that is because what 10 tendency to happen is bookkeeper number one will eventually be on holidays, sick at home, etc. If you don’t necessarily know how they do things, or how they file, then you’re going to be in a lot of trouble and no work will potentially be getting done.

It is so honestly simple for people to inflate earnings from within the business that you work in, happily says Edmonton business consultant. The main defence is not necessarily having just one person processing a lot of payroll. It is super difficult after most small businesses to do. That person processing all of the payroll, has a high degree of a lot of responsibility. You have entrusted that person to do take care of a lot of your personal interests, and make sure that they are not taken advantage of.

Put somebody in responsible for one particular credit card. You’re not necessarily going to want to give everybody in your business the credit card so that anybody can run out and get office supplies, etc. That is just not safe, and doesn’t allow for a lot of time. What you should do, is you should make the most reliable person retain the credit card and make them the only ones that can potentially go out and buy things for the business, etc. Make sure the portal limits of maybe $500 on that card so that you’re not going to be losing any money if in fact that is given to a very nefarious, very interesting person.

As well, warns Edmonton business consultant, what will end up happening is person number two, another person that you trust, can retain the debit card on your behalf and on the businesses behalf, that would be fantastic. The same person should not retain both the debit and the credit card. Make sure that you offset them, and that every thing is taken well care of.

What you can do as a matter of fact is you can think to have the two most trusting people trade off and one person will have a credit card one day and the debit card the next day.

As well, that is very easy for you as well to spot any fraud that could may as well happen. If for example they always have the credit card, that is equally very easy to deal with. However, make sure that they are responsible for that card.