1. Are your personal financial affairs and business financial affairs clearly separate? Do you have a separate bank account for your business?

2. Does your bookkeeping system meet the needs of your accountant?

3. Can you easily track your business' money and its financial performance?

4. Is someone assigned to do your day-to-day bookkeeping?

5. Are your records up-to-date?

6. Does your accountant spend the majority of his or her time on basic bookkeeping, or on the more skilled tasks of preparing your financial statements and tax returns?

7. Have you established a good working relationship and do you communicate well with your accountant? Does he or she answer your questions to your satisfaction?

8. Does your daily cash sheet usually balance, or are there major discrepancies?

9. Can you easily access information on the money you owe (accounts payable) and the money others owe to you (accounts receivable)?

10. Do you reconcile your bank account at least once a month?

11. Do you pay invoices and expenses by cheque? (Cheques provide an easy record for you and your bank and the cancelled cheque can act as a receipt).

12. Do you file a copy of all your customer sales invoices? (From time to time, these will be used to look up invoice totals, stock numbers, or quantities ordered).

13. Do you keep a file of all invoices and bills that are paid?

14. Does your payroll system work well?

15. Are you remitting payroll deductions to Revenue Canada on time?

16. Do your personnel records give you a clear picture of the strengths and weaknesses of your employees?

17. Do you keep business safety records and customer service records?

18. Do you have a clear idea of how much inventory you have on hand?