Running an incorporated business gives you more flexibility over how and when you take money from your company. However, transferring money from the corporate bank account to your personal account is not as simple as making a withdrawal. The money normally needs to be recorded properly as salary, dividends, repayment of a shareholder loan or...

A business can be profitable on paper and still struggle to pay employees, suppliers, rent or taxes. The problem is often not a lack of sales. It is timing. Customers may take 30, 60 or even 90 days to pay, while payroll, loan payments and supplier invoices continue to fall due. A large tax remittance,...

Most small businesses do not need a full-time Chief Financial Officer when they first open. In the early stages, the owner may manage the company’s finances with help from a bookkeeper and an external accountant. This arrangement can work well while transactions are straightforward, revenue is relatively stable and the owner can still understand the...