Taken from:    ”Small Business – The Globe & Mail  – December 2011″

• Pick Your Partners Well – “Doubts will not diminish over time,” says Adams.  “For better or worse, you’re stuck with partners for a long time,  so you’d better be sure.”
• Hire Consultants Carefully – “If I could go back in time,  I would only ever pay someone for a tangible result,” says Adams.  “Define their job and give them a target to deliver.  If they don’t deliver, they don’t get paid.”
• Don’t Kid Yourself – “I used  to have visions of being a millionaire at 25″  says Bagg.  “The reality is that being an entrepreneur is way more work than having a day job.  So you better love it.”

When receiving invoices from your suppliers, there are key items that you need to look for.

• Is the supplier’s name listed in full and complete with address, and telephone number.  The contact information is important.  In case there is a  dispute you are able to contact the supplier.
• Is the Date on the invoice?  This is important to ensure that invoices are accurately recorded on the date the expense occurred.  The expenses are recorded following the matching principle of Accural Accounting.  This means that expenses are recognized when they occur, not when paid.
• If they are charging HST, your supplier MUST have their HST number on the invoice.  If you suspect the number may be wrong, you can call Revenue Canada to confirm the number.  CRA cannot tell you what your supplier’s HST number is, but they can confirm if the number provided is right or wrong.

To update my current and future clients, I am happy to announce that Jane Lakatos Business Services is now in our new location and we are ready to offer the same exceptional service.  My husband and I have spent countless hours totally renovating this location.  Please feel free to drop in and one of my employees or I will be pleased to give you a personal tour.  Along with its comfortable atmosphere, this new location has allowed us to meet the challenge of offering better accessibility to our clients.  We are now located at 421 Ontario Street, Cobourg.  We look forward to seeing you!