Accounting and Budgeting
Not properly managing a company's cash flow is the single largest cause of business failure. Many "profitable" companies have failed because they ran out of cash. These links will help you understand what cash flow is and how to project and manage it.
- Financial Statements: This farticle explains the Profit & Loss Statement, the Balance Sheet and the Cash Flow Statement, what they are, how they are calculated, how you use them and why they are important.
- Quickbooks Cash Flow Template: A template developed by Quickbooks.
- 12 Month Cash Flow Template: Another template developed by SCORE.
- 3 Year Cash Flow Template: Developed by SCORE.
- The key to successful Accounting is the establishment of your accounting system and the reliable input of data. You will set up a system that is uniquely yours. Recording the transactions and information is called bookkeeping, and it must be done regularly. Click here to learn how stuff works.
- Small Businesses that avoid the financial details are far more likely to fail than ones that pay attention. No matter how small, businesses have to use budgeting and have a working business budget for good financial management. About.com's "Budgeting" and "Preparing a Working Business Budget" are powerful tools.
- Using Financial Data to Run Your Business: This free, online business workshop will describe the financial reports you need to run your business. How do you do it? Tune in.
- What is a Balance Sheet?: This web page presents an explanation of the elements of the Balance Sheet.
- Analyzing Your Financial Ratios: This free online business workshop will: help you understand how ratios determine the financial health of your business, explain the 4 types of ratios used in financial analysis, and provide interactive worksheets to help put it all together.
- Financial Management for Small Business: Are your accounts receivables late? Is your inventory not moving? You will learn how to maximize income and minimize expenses.
Taxes - Federal and State
- Tax Secrets to Keep More of What You Earn! If you’re like most small business owners, you overpay thousands of dollars every year - money you could be using to grow your business - in taxes. Attend this entertaining, fast-paced webinar to learn the last minute secrets to rescue thousands in savings and take advantage of every available break!
- Getting a Tax Identification Number (TIN) or Employer Identification Number (EIN): These numbers are important important in most businesses and required in many.
- IRS e-News for Small Businesses is a free electronic mail service designed to provide tax information for small business owners and self-employed individuals. It is distributed every other Wednesday.
- Want some help managing your taxes? Try Indiana's INTax System. If you have any questions about using or registering for INtax, please refer to the Department'sWeb Site. You can also contact the Department's INtax Hotline at (317) 232-2337 Monday- Friday, 8 a.m. - 4:30 p.m.
- How to Choose? All small businesses need a method to “keep books” in order to record the activities of the business, manage the business, measure success, and pay taxes. This website has a download that outlines the consideration for choosing the right accounting software for your business. It also has links to sites to search software programs by industry, function and more, and compare programs and features.