Personal Monthly Budget:Before starting your business it’s important that you have a personal monthly budget to understand your finances, practice money management, and save for your business. A budget is a way for you to track your money and make estimates about future spending, and it is done by adding the money you earn and subtracting the money you spend. Use this template to begin your personal budget.
Balance Sheet Template:Which is vital to understand the financial position of your company, value your assets, and help the owners and managers to understand weaknesses and strengths to develop strategies.
Statement of Cash Flows Template:This will provide you with an organizational model to understand the key cash drivers for your company’s operations and compare the Current Period with the Prior Period.
Business Banking Account Options:This document includes a directory of potential banks and credit unions to select from when identifying your banking needs, as well as other areas to consider when starting a checking account. It also covers the benefits of using a credit union for business banking.
SBA – Manage your finances:You will find more explanations about the importance of business financials, methods of accounting A breakdown of how to develop Cash Flow Analysis for your business by the U.S. Small Business Association.
SBA Get More Funding:Find tips to prepare a business case and financial statements to convince lenders, crowdfunders, or investors to fund your small business.
Quickbooks:Quickbooks is an accounting software package geared towards small and medium-sized businesses that offer on-premises accounting applications and cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
DNEP Free Accounting:DNEP Free Accounting (formerly known as Free Accounting Fridays) is a way for Detroit small business owners and entrepreneurs to get free consulting assistance in the areas of accounting and finance. It is a collaboration between University of Michigan’s Detroit Neighborhood Entrepreneurs Project (an initiative to connect U-M faculty, students and staff with Detroit entrepreneurs) and Businesses + Impact at the Ross School of Business. Click the link here to schedule your consultation appointment.