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Tag Archives: accounting

How to Close The Books in QuickBooks Online

Cloud Accounting, QuickBooksBy Sherrell T MartinJuly 5, 2016Leave a comment

Often times clients and business owners I train on QuickBooks Online ask if there is a way to close the books on a monthly basis in QuickBooks Online. And the answer is yes. The main time to close your books is at the end of the year after the tax return is completed. Once your return…

GUEST POST: 8 Accounting Mistakes That Are Causing Your Business To Lose Money

Guest BlogsBy Sherrell T MartinJanuary 24, 20152 Comments

Accounting is one of the most important aspects of any growing business. Keeping abreast of all the financial developments in your company is difficult but necessary for a lot of reasons. Organization, of course, is key to the success of any accounting department. Even if your company doesn’t have an established accounting department, it’s important…

S Corp vs LLC

Which Type of Entity Is Best For Me?

Business Management, Financial Management, Mindset, My ThoughtsBy Sherrell T MartinJune 12, 2014Leave a comment

I often receive questions about how to set-up a business. Potential new business owners are excited to set-up their businesses, but they don’t always know the best way to set-up their business. There is tons of information on setting up a new business and you should do your due diligence and research on each type…

Financial Metrics Every Business Owner Should Know

Financial ManagementBy Sherrell T MartinMarch 25, 2014Leave a comment

As the CEO of your business it is your responsibility to know what is going on in your business. And not just from what’s going on in operations. You need to know what your finances say about your business. A big part of being the CEO of your own company is understanding the numbers in…

7 Tips on How To Get Your Financial House In Order

Financial ManagementBy Sherrell T MartinDecember 31, 2013Leave a comment

Getting your financial house in order takes a lot of work.  It takes a lot of focus and understanding to get everything organized in a manner that will help you understand how your business performed during the year.  It’s not the easiest thing to do but it’s also not the hardest.  If you put your…

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…

SHOULD I HIRE AND EMPLOYEE OR A CONTRACTOR?

Business ManagementBy Sherrell T MartinJune 15, 2012Leave a comment

Should I hire and employee or a contractor?  This is a question small business owners ask A LOT.  And the answer is ….it depends.  I am going to share with you the top five things to consider when hiring an employee or contractor and these differences will help you can decide which option works best…

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