FINANCIAL PLAN Please note this copy of the blank financial should be used for reference only, this page will not calculate the financials. Topic: Beginning Balance Sheet Instructions: Before we can start your financial plan, we need a starting point. There are two tables on this page. In the first table, if it is an existing business, we want you to enter in the beginning balances of your Balance Sheet for the period covered by your business plan. In the second table, we want you to provide us with a breakdown of your accounts payable. If you are a new business, you may want to enter all the balances on this page at $0. Comments: Once you have entered information, use the Calculate Button to total your entries. To make sure that Assets are equal to Liabilities and Owner's Equity, Retained Earnings are calculated for you in the Balance Sheet. If the figure is not correct, this means that at least one of your other balances was entered incorrectly. Click on an underlined word on this page for further help. Note: Only enter whole numbers into the numerical boxes. The boxes will not accept commas, $ signs, cents or letters. Top of Form 1 Your Answer: Enter the beginning balances in the table below.
Provide a breakdown of your beginning accounts payable below. ACCOUNTS PAYABLE
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After you complete Revenue assumptions you can follow the same pattern for your Expense assumptions. Topic: Note 1: Revenue Assumptions Instructions: The next step is to estimate your sales revenue for the next three years. This page has two tables. In the first table, we want you to enter your estimated sales revenue by month in Year 1 for up to four product or service categories. Use the top row to enter the names of these product or service categories. In the second table, we want you to enter your estimated sales revenue by product for Years 2 and 3. Comments: Sales revenues are usually recorded when your product or service is sold rather than when you actually receive payment for it. You will notice that the tables each have an introductory sentence (for example, "Our revenue projections by product and by month for the first year are:"). This page and others will be printed out as notes to your financial statements and the sentences will help the reader understand the tables. Once you have entered information, use the Calc Button to total your entries. Click on an underlined word in the tables for further assistance. Top of Form 2 Your Answer: a. Our Revenue projections by product and by month for the first year are:
b. Our revenue projections by product for Years 2 and 3 are:
Bottom of Form 2
Topic: Note 2: Assumptions Regarding the Collection of Sales Revenue Instructions: It's one thing to make a sale, its another thing to collect the money. We now want you to estimate when you will be collecting the cash from your sales. To help you do this, there are four tables on this page. In the first table, we want you to tell us what percent of your sales you expect to collect during the month your product or service is sold and what percent you expect to collect in the following month, in two months and in three months. If you operate strictly on a cash basis (you do not sell on credit), 100% of your sales would be collected in the current month. To make sure the percents add up to 100%, the current month percentage is calculated for you based upon the percents you put in the other rows. Comments: Based upon the information you provide, we use the second table to calculate how much money you would be collecting each month. If you want, you can make an entry in the adjustment column to revise this estimate for any one or all of the months. The third table calculates for you how much money you would be owed by your customers at the end of Year 1. In the fourth table, we want you to estimate how much you would be owed by your customers at the end of Years 2 and 3. Click on an underlined word in the tables for further assistance. Top of Form 3 Your Answer: a. We assume that the percent of our sales which are collected: in the month they are made; in the month following; in two months; and in three months are:
b. Based on these assumptions, we have projected how much we will collect from our sales in each month. The following table also identifies any adjustments we may have made to these figures.
c. Not all of our sales in the first year will be collected during that year. Based on the assumptions shown above our Accounts Receivable at the end of Year 1 will be:
d. We assume that our Accounts Receivable at the end of Years 2 and 3 will be:
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