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While you build your dreams, we'll handle your accounting.

A quick hello from Martin & Green

Welcome to our inaugural newsletter!  Our mission is to help business owners just like you achieve your dreams.  We do that by helping you gain and keep control of your numbers so you can stay focused on the big picture.  We want to help you to succeed!  With that, the entire goal of this newsletter is to do just that.  We hope to educate, inspire and support you however we can.

Speaking of inspiration, our friend Michael Reiland, owner of Integrity Images, has exclusively allowed Martin & Green to share his beautiful photography in our newsletters.  Integrity Images is an award winning multi-media communications print shop in NW Houston so a huge thank you to Michael and  the Integrity team. We hope that you will think of them for all of your print & media needs because "your image deserves Integrity." Check them out at www.IntegrityImages.net or give them a call at (713) 862-4919 - when you call, tell 'em we said hi!

Remember, we have a broad network of referral partners so it's always worth calling us when you are seeking any type of service, - everything from commercial insurance to roofing, we've got you covered.
I've heard many stories of business owners who gave up on their dream of business ownership.  But why?  All too often, it came down to the accounting - they didn't have reliable numbers to help them make informed decisions. Accounting in your business is like all other relationships - the better it starts, the better chance you have over the long run.  When you're just starting, it's tempting to believe you can save money by setting up the books yourself but saving money at the start does not end up saving you money ... in fact, it can end up costing many times more to pay a professional to unwind the mess when you finally feel you have enough money to hire a pro.

When it comes to accounting, here are four non-negotiables for the business owner: 

1. Own your accounting program.
 I continue to be surprised by the number of business owners who let their outside bookkeeper own the QuickBooks and just get reports when the bookkeeper sends them.  You're the business owner and you need anytime access to run the reports necessary to make informed decisions.  Can you afford to buy a new piece of equipment?  Are expenses remaining consistent?  Who owes you money?  You need to run these reports on your schedule, not when it's convenient for the bookkeeper to send them to you.
 
2.  Hire a pro to set it up. 
If you go it alone, the setup is where you will make the most - and most costly - mistakes.  Do you know how to set up your chart of accounts?  General Ledger?  Properly link your bank and credit cards so you get all the data?  Know how to set up your items list so it points to the proper income accounts?  Know how to properly categorize expenses?  Are you intimidated yet?   Good, because this is not your world.  Look, you're a pro in your field, right? You have solutions that your clients need. A professional accountant can do that for your business, too.
 
3.  Know who you're hiring when it comes to your books.
First and foremost, you want a real accountant who supports business owners day in and day out.  People will offer to help - friends, relatives, neighbors - but are you willing to build the foundation of your business on a cheap and unqualified resource?  Also, don't be wowed by the "Certified QuickBooks Pro Advisor" designation; it just means they were able to pass a test about QuickBooks. It does NOT mean they know the first thing about accounting.  Knowing QuickBooks isn't a necessity; knowing accounting IS.  Finally, bookkeepers, accountants and CPAs have different levels of experience and authority which we'll cover in more depth in future newsletters.
 
4. The importance of an external accountant
We continue to hear stories of fraud and theft perpetrated by internal resources; this should further punctuate the need to hire someone outside the business to check your books each month.  It's not that costly and as with all things, an ounce of prevention is worth a pound of cure.  If you get pushback from your internal resource about this, it's a major red flag.

Accounting Roadmap

Do you want to know who should be doing what with respect to your accounting? Download our "Accounting Roadmap" and see how you measure up! Our Accounting Roadmap helps keep you on track with daily, weekly, monthly and annual tasks for you, for your external accountant and your tax professional.  In later newsletters, we'll cover these and other important activities in more detail. These are just the basics and if you have any questions or just want to chat, feel free to call us at (713) 301-5594 - we're here to help!
Click to Download

Accounting basics you really do need to know


If your accounting skills aren't what they need to be just yet, that's okay.  But you outsource it til you learn it - it's simply part of owning a business.  And the quality of your accounting may very well be a deciding factor in the success or failure of your business. We can help you with bite-sized training and help you know who should do what, and when.  Meanwhile, start with these:
  • In your accounting program always VOID, never DELETE -  by voiding transactions, your accountant or tax pro will have an easier time tracking a transaction if needed.  If you delete it, it's gone for good.
  • Skip the ATM & Mobile Deposits - we've seen a lot of errors with these forms of deposits, including the deposit not being credited (more than once ...).  Instead, create a deposit ticket and use a bank teller for every deposit.  And leave yourself some breadcrumbs on the deposit slip, like the customer's name and / or invoice number.  Most banks image the front and back of your deposit slip so if you're a little delinquent on payment posting (we know, it happens...) at least you can go back and see who the deposit was for.
  • Don't wait til the last minute - keeping up with things each month throughout the year means you won't be scrambling at year end to get everything together for your tax preparer.  Remember what it was like last year?  You don't want *that* again, right?  Plus, you'll sleep better knowing your books are closed and reconciled each month, and you have numbers you trust.

True Story

Client Successes

Our latest success involves a client whose in-house bookkeeper went on emergency leave without notice. The owner called us in because it was the last day of the month, payroll was due and he had no idea what needed to be done ... who they needed to pay, who needed to be invoiced or who owed them money.  He literally felt like things were out of control.   We were able to be onsite the very next day and helped them with some reporting, cut checks to vendors and generally helped them get their arms around things.  The way they were invoicing made it tough for them to know what was really owed so we made some suggestions on their invoicing process.  When we left, the owner said what he'd learned about their invoicing was worth the price of our being there the whole day!  

Our Partnerships

It truly takes a village to grow a business. You need the right partnerships with vendors and referral partners.  We have strategic relationships with everything that your need for your business - we can even get you in the same room as 30 other business owners!  Give us a call at (713) 301-5594 for more info!

Martin & Green has strategic relationships with:
  • Banking and merchant services
  • Payroll
  • Tax
  • Marketing
  • Commercial insurance
  • Professional business coach
  • and more!

Imagine never having to worry about your books again!

Could you accomplish more in your business? Would you miss filing extensions? Would you sleep better? That's exactly what we do for you at Martin & Green, make your accounting E A S Y.  We provide you with:
  • Confidence - that your books are ready to hand off to your tax pro
  • Accurate Data - that helps you make informed business decisions
  • Time - to work on your business, instead of worrying about the numbers    
Our team specializes in supporting small business. Our combined corporate portfolios represent over 35 years experience and over a half a billion dollars of collections.  Since 2013 we've been making accounting easy for our clients.  How can we help YOU?
That's a wrap!  We hope you enjoyed this newsletter and found value in it.  We'd love to hear from you with any comments or particular topics you'd like us to cover next time.

Regards,


Mikelyn Martin 
MANAGING PARTNER

_______________________________
(713) 301-5594
PO Box 680586 • Houston, TX 77268

www.martingreenLLC.com

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Inspirational photography compliments of
Michael Reiland, owner of Integrity Images.

Because your
image deserves Integrity!



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