What to know
Early signs that a business is losing visibility into profit, cash, or tax.
- Declining margins
- Late customer payments
- Rising debt
- Unpaid taxes or missed payroll remittances
- Poor cash flow and expenses that keep climbing
- Inaccurate bookkeeping or unexplained bank differences
- Financial statements that nobody reviews
Put it into practice
If the statements are late or you do not trust them, fix the record first. Decisions made on a guessed bank balance are how these warning signs turn into a filing problem.
A note about this resource
This is general information for business owners in Ontario and the GTA. It is not tax, legal, or accounting advice for your file.