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Category Archives: Financial Management

Top 3 Money Management Strategies to Keep More Money In Your Business

Business Management, Cash Flow, Financial ManagementBy Sherrell T MartinNovember 29, 2012Leave a comment

I recently did a speech on the 5 simple strategies to keeping more money in your business.  In preparing for this speech I determined that 3 of those strategies were the MOST important. 1. Re-aligning your goals. It is important to determine the direction your business is going and gain clarity on why your business…

SALES TAX: SHOULD YOU BE CHARGING IT?

Financial ManagementBy Sherrell T MartinOctober 30, 20122 Comments

Sales tax is a simple yet complicated thing when you are a business owner.  Am I required to charge it or not?  Can I be exempt from paying it or not? The basic rule is this: sales tax should be charged to the end-user of the item purchased.  In most states, most items are assessed…

TOP 3 REASONS WHY VIRTUAL ACCOUNTING IS THE WAY TO GO

Financial ManagementBy Sherrell T MartinOctober 20, 20122 Comments

This day and age we are living in a technology society.  Everything is online – banking, photos, shopping, music, TV shows and even movies.  Yet at the same time, I am amazed at how many people don’t want to do things online.  Are they going to stay in the paper age forever? Even with accounting. …

THE A,B,C’S OF RECORDING EXPENSES

Financial ManagementBy Sherrell T MartinSeptember 28, 2012Leave a comment

When recording business expenses, it’s important to remember that all costs fall into three categories – direct costs, indirect costs and general & administrative costs.  It is important to account for your expenses accurately because it helps you understand where you are spending your money and at what point your business begins generating a profit. …

EXPENSE VS EXPENDITURES: WHAT’S THE DIFFERENCE?

Financial ManagementBy Sherrell T MartinAugust 30, 20122 Comments

This week’s blog will be short and sweet.  I was having a conversation with a client and she kept saying expenditure and I kept saying expense.  When finally she asked, “Well what’s the difference?”  Well believe it or not, there is a difference.  A subtle one – but a difference none the less.  And depending…

IS YOUR BUSINESS MAKING A PROFIT OR IS IT REALLY BREAKING EVEN?

Financial ManagementBy Sherrell T MartinJuly 12, 2012Leave a comment

Profit (n.): the excess earnings over expenditures you make from providing services or selling products Breaking Even (adj.): the point or level of financial activity at which expenditures equal income; no profit or loss Is your business making a profit?  Most people truly believe they are.  But if they were to sit down and really…

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