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Tip of the Day #10 - Eliminate Penalties For Missed Deadlines

Barbara Steckly

Barbara Steckly

Barbara Steckly from Preferred Client Services in Edmonton, Alberta with your bookkeeping tip for the day.

Ready to Eliminate Penalties for Missing Deadlines?

As business owners, we and our staff are surrounded by deadlines. Some of those deadlines are self-directed and subject to change with few repercussions.

However, governments and suppliers attach interest penalties when you miss their dates.

To eliminate this expense, first ensure that all deadlines are properly entered and flagged.

Second, if you are making online payments, clearly understand the banking rules for submitting online payments. For example, you must post your online tax payment one day before its due date.

Finally, get updates about delivery times for any cheques you mail.  Pay online whenever possible and pay just before the due date.

Preferred Client Services, partnering with you, your team and your accountant to make a positive difference in our bottom line.

Serving Edmonton, Sherwood Park, St. Albert and all other surrounding areas.

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