Financial Plan Outline

Income Projection Statement

Total Percentage

The percentages of total sales (revenues) that are standard for your industry, which are derived by dividing Costs/expenses items * 100%.

Costs of Sales

Calculate cost of sales of all products and services used to determine total net sales. Where inventory is involved, do not overlook transportation costs. Also include any direct labor

Gross Profit Margin

Calculated by dividing Gross Profits over Total Net Sales (it is a percentage)

Salaries/wages

Base pay plus overtime

Controllable Expenses

Payroll

Include paid vacations, sick leave, health insurance, unemployment insurance and social security taxes.

Outside Services

Include costs of subcontracts, overflow work and special or one-time services as well as legal and accounting consulting.

Advertising

Include desired sales volume and classified directory advertising expenses.

Automobile

Include charges if personal car is used in business, including parking, tools, and buying trips.

Office Supplies

Dues, subscriptions, and fees

Miscellaneous

Total Controllable Expenses

Rent

Depreciation

Established by your accountant, or value of all your equipment divided by useful life (in months) as allowed by Internal Revenue Service.

Utilities

Insurance

License/Permits

Loan Payments

Miscellaneous

Total Fixed Expenses

Total Expenses

Add Total Controllable Expenses and Total Fixed Expenses

Net Profit before Taxes

Subtract total expenses from gross profit.

Net Profit after Taxes

Subtract taxes from net profit (before taxes)

Date

Cash

List cash and resources that can be converted into cash within 12 months of the date of the balance sheet

Current Assets

Petty Cash

Accounts receivable

Inventory

Short-term investment

These include interest- or dividend-yielding holdings expected to be converted into cash within a year. List stocks and bonds, certificates of deposit and time-deposit savings accounts at either their cost or market value, whichever is less.

Prepaid expenses

Long-term investment

These include holdings the business intends to keep for at least a year and that typically yield interest or dividends. Included are stocks, bonds and savings accounts earmarked for special purposes.

Total

Land

Building

Improvements

Equipment

Furniture

Vehicles

Other

Other

Accounts Payable

Previous months payable plus current months payable minus amount paid during month.

Total Current Assets

Total Fixed Assets

Total

Current Liabilities

Accounts Payable

Notes Payable

The balance of principal due to pay off short-term debt for borrowed funds. Also includes the current amount due of total balance on notes whose terms exceed 12 months.

Interest Payable

Federal Income Tax

State Income Tax

Self-employment Tax

Sales Tax

Property Tax

Payroll Accrual

Salaries and wages currently owed.

Total

Long Term Liabilities

Notes Payable (2)

List notes, contract payments or mortgage payments due over a period exceeding 12 months or one cycle of operation. They are listed by outstanding balance less the current position due.

Total Liabilities

Equity for Sole Proprietorship

Net Worth (in dollars)

Equity for Partnership

Partner 1 Equity (in dollars)

Partner 2 Equity (in dollars)

Partner 3 Equity (in dollars)

Equity for Partnership

Capital stock (in dollars)

Surplus paid (in dollars)

Retained Earnings (in dollars)

Equity for Corporation

Total Net Worth (in dollars)

Cash on Hand (from previous month)

Cash Sales

Collections from Credit Accounts

Monthly Cash Flow Projection

Loan or other cash injections

Cash Receipts

Total Cash Receipts

Total Cash Available

Cash on Hand plus Total Cash Receipts

Merchandise purchases

Gross wages

Payroll expenses (taxes et al)

Cash Paid Out

Outside services

Supplies

Repairs and Maintenance

Advertising

Car, delivery, and travel

Accounting legal services

Rent

Telephone

Utilities

Insurance

Taxes

Interest

Other expenses (specify)

Other expenses (specify)

Other expenses (specify)

Miscellaneous (unspecified)

Subtotal

Loan Principal payment

Capital Purchases (specify)

Capital Purchases (specify)

Other Start-up Costs

Reserve and/or escrow(specify)

Owners Withdrawal

Subtotal

Total Cash Paid Out

(Add 2 subtotals above

Cash Position

Subtract Total Cash Available from Total Cash Paid Out

Essential Operating Data

Sales Volume (in dollars)

Accounts Receivable

Previous unpaid credit sales plus current months credit sales, less amounts received current month.

Bad Debt

Bed debts should be subtracted in the month anticipated.

Inventory on Hand

Last months inventory plus merchandise received and/or manufactured current month minus amount sold current month

Accounts Payable

Previous months payable plus current months payable minus amount paid during month.

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