If you’re looking to create a bookkeeping business plan, you’ve come to the right place!
Over the past 25 years, the PlanPros team has helped over 1 million entrepreneurs and business owners write business plans….and many of them have started and grown successful bookkeeping businesses. Below is an example of a business plan for a bookkeeping business.
Bookkeeping Business Plan Example
Below is our bookkeeping business plan template and sample plan created using our ai business plan generator:
I. Executive Summary
Company Overview
At LedgerWise Services, we are a fresh and dynamic bookkeeping firm based in Oklahoma City, OK, dedicated to providing top-notch financial management services to local businesses. Our suite of services includes Monthly Financial Statements, Payroll Processing, Accounts Payable and Receivable Management, Bank Reconciliation, and Tax Preparation and Filing. We pride ourselves on exceeding customer expectations by offering personalized service that frees our clients to focus more on growing their businesses. Our strategic location allows us to build strong, face-to-face relationships with our clients, setting us apart from remote providers and positioning us as an integral part of the Oklahoma City business community.
Success Factors
Our path to success is paved by the rich experience of our founder, who has previously led a bookkeeping firm to success, and our commitment to superior service. Since our establishment as a C Corporation on January 4, 2024, we have achieved key milestones such as developing a distinct company name and logo, securing a prime operational location, and laying the groundwork to become the leading bookkeeping service provider in Oklahoma City. Our dedication to precision, reliability, and personalized service makes us the go-to partner for businesses in our region.
Industry Analysis
The bookkeeping industry in the United States, with a market size of over $40 billion, is experiencing steady growth thanks to the increasing complexity of financial regulations and the growing need among small businesses for professional bookkeeping services. Expected to grow at an annual rate of 5-7%, the industry’s future looks promising, especially for LedgerWise Services. Our ability to leverage recent trends such as cloud-based accounting software and virtual services positions us well to offer efficient, flexible, and cost-effective bookkeeping solutions to local businesses in Oklahoma City, OK, capitalizing on these industry growth drivers.
Customer Analysis
We target small to medium-sized businesses, home-based businesses, freelancers, non-profit organizations, and startups in Oklahoma City, OK, all in need of reliable bookkeeping services. These clients benefit from our expertise in financial record management, payroll, and tax preparation, which allows them to focus more on their core operations. Tailoring our services to meet the unique needs of these diverse customer segments ensures we provide value and support to their financial management efforts, fostering their growth and success.
Competitive Analysis
Our main competitors in Oklahoma City include Kristie Howell, Clampitt David E CPA, and Larry Pace & Co., each offering a range of bookkeeping and accounting services. Despite the competitive offerings, LedgerWise Services stands out due to our superior service quality, technological integration, and personalized support. Our focus on precision, reliability, and proactive communication, combined with our local expertise and dedication to staying abreast of industry changes, positions us as a trusted partner for businesses seeking financial success.
Marketing Plan
LedgerWise Services offers a comprehensive suite of bookkeeping and financial management services at competitive prices. Our services, including Monthly Financial Statements, Payroll Processing, Accounts Payable and Receivable management, Bank Reconciliation, and Tax Preparation and Filing, are designed to provide businesses with the clarity and efficiency needed for growth. To attract customers, our promotional strategy encompasses online marketing, leveraging SEO, social media, email marketing, and a professional website. Additionally, we will engage in local community events, networking, referral programs, and traditional marketing methods such as print advertising and direct mail campaigns. These efforts aim to enhance our visibility, attract and retain customers, and build strong relationships within the Oklahoma City business community.
Operations Plan
Our operational strategy focuses on maintaining accurate financial records, efficient transaction processing, and regular communication with clients. Key processes include daily bank reconciliations, generating financial reports, ensuring compliance with tax regulations, and leveraging bookkeeping software to streamline operations. We are committed to achieving milestones such as launching our service, acquiring initial clients, establishing an online presence, obtaining necessary certifications, and implementing a client management system. These steps will ensure LedgerWise Services not only meets but exceeds our clients’ expectations, fostering our growth and success in the bookkeeping industry.
Management Team
Under the leadership of Hazel Adams, our President, LedgerWise Services boasts a management team with the experience and expertise to excel. Hazel’s proven track record in growing businesses and optimizing financial processes ensures we are well-poised to achieve our mission of providing exceptional bookkeeping services to businesses in Oklahoma City, OK. Her strategic vision and commitment to excellence guide our efforts in becoming the preferred bookkeeping partner in the area.
Financial Plan
To reach our growth goals, LedgerWise Services requires $96,000 in funding. This capital will be allocated towards essential investments such as location buildout, equipment, initial operating expenses, and marketing efforts. These financial resources will enable us to establish a solid foundation for our operations, ensuring we have the necessary infrastructure, technology, and personnel to deliver outstanding service to our clients and achieve financial sustainability.
Summary
Below is an overview of our expected financial performance over the next five years:
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | |
---|---|---|---|---|---|
Revenues | $1,854,983 | $2,008,632 | $2,175,007 | $2,355,163 | $2,550,242 |
Direct Expenses | $733,612 | $770,987 | $810,265 | $851,544 | $894,926 |
Gross Profit | $1,121,370 | $1,237,645 | $1,364,742 | $1,503,619 | $1,655,315 |
Gross Profit (%) | 60.5% | 61.6% | 62.7% | 63.8% | 64.9% |
Other Expenses | $97,085 | $100,030 | $103,065 | $106,192 | $109,414 |
EBITDA | $1,024,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 |
Depreciation | $0 | $0 | $0 | $0 | $0 |
Amortization | $0 | $0 | $0 | $0 | $0 |
Interest Expense | $0 | $0 | $0 | $0 | $0 |
Income Tax Expense | $0 | $0 | $0 | $0 | $0 |
Net Income | $1,024,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 |
II. Company Overview
LedgerWise Services is a fresh and dynamic bookkeeping firm serving the heart of Oklahoma City, OK. As a newly established local bookkeeping entity, we pride ourselves on filling the gap in high-quality bookkeeping services within the area. Our commitment is to ensure that every customer receives unparalleled service that not only meets but exceeds their expectations.
At LedgerWise Services, our core offerings include a comprehensive suite of financial management services tailored to the needs of our clients. These include Monthly Financial Statements to keep you on top of your business performance, Payroll Processing to ensure your team is compensated accurately and on time, and meticulous management of Accounts Payable and Receivable to keep your cash flows smooth. Additionally, we offer Bank Reconciliation services to help you keep your books in line with your bank statements, alongside Tax Preparation and Filing services to ensure compliance with tax laws and regulations. Our services are designed to give our clients peace of mind and free them to focus on what they do best – growing their businesses.
Based in the vibrant city of Oklahoma City, OK, LedgerWise Services is strategically positioned to serve businesses within this bustling community. Our physical presence here enables us to build strong, face-to-face relationships with our clients, providing personalized service that is hard to find with remote providers.
Our unique position for success stems from the rich experience of our founder, who has previously steered a bookkeeping firm to success. This, combined with our dedication to providing superior services, positions us as a beacon for businesses seeking to maintain accurate financial records, comply with legal requirements, and make informed financial decisions. Our expertise and dedication make us the go-to partner for businesses in Oklahoma City seeking reliable bookkeeping services.
Since our inception on January 4, 2024, as a C Corporation, we have hit several key milestones. We have developed a distinct and recognizable company name and logo, signifying our commitment to becoming a staple in the local business community. Moreover, we have secured a prime location that serves as our operational base, further solidifying our presence in Oklahoma City. These accomplishments mark just the beginning of our journey towards becoming the leading bookkeeping service provider in the area.
III. Industry Analysis
The bookkeeping industry in the United States is a significant sector, with an estimated market size of over $40 billion. This market size is driven by the increasing complexity of financial regulations and the growing number of small businesses in need of professional bookkeeping services.
Market research projects steady growth in the bookkeeping industry over the next few years, with an expected annual growth rate of 5-7%. This growth is fueled by the increasing demand for accurate financial reporting, tax compliance, and strategic financial planning among businesses of all sizes.
Recent trends in the bookkeeping industry, such as the adoption of cloud-based accounting software and the rise of virtual bookkeeping services, bode well for LedgerWise Services. As a new bookkeeping service provider in Oklahoma City, OK, LedgerWise can capitalize on these trends to offer efficient, cost-effective, and flexible bookkeeping solutions to local businesses.
IV. Customer Analysis
Below is a description of our target customers and their core needs.
Target Customers
We will target small to medium-sized businesses in Oklahoma City, OK, that require reliable and accurate bookkeeping services. These businesses will benefit from our expertise in managing financial records, payroll, and tax preparation. Our services will help them streamline their accounting processes, providing more time to focus on core business activities.
Local residents who operate home-based businesses or freelance will also be key customers for us. Our personalized bookkeeping solutions will allow these individuals to maintain organized financial records and ensure compliance with tax regulations. We will tailor our services to meet the unique needs of these home-based entrepreneurs.
We will also serve non-profit organizations that require meticulous bookkeeping to manage donations, grants, and operational expenses. By providing specialized accounting services, we will help these organizations maintain transparency and accountability in their financial reporting. This support will enable non-profits to focus more on their mission and community impact.
In addition, we will target startups and new businesses that need foundational bookkeeping assistance to set up their financial systems correctly from the start. Our comprehensive services will include setting up accounting software, financial planning, and ongoing support. This approach will ensure that these new ventures are on solid financial footing as they grow.
Customer Needs
Customers can expect high-quality services that help manage their financial records efficiently. This includes accurate and compliant financial reporting, which is crucial for both individuals and businesses. Clients benefit from a streamlined process that minimizes errors and maximizes financial clarity.
Maintaining compliance with local, state, and federal regulations is another critical need LedgerWise Services fulfills. Proper bookkeeping ensures that clients avoid penalties and remain in good standing with tax authorities. Customers also gain peace of mind knowing that their financial data is handled with utmost confidentiality and security.
Effective financial management extends beyond basic bookkeeping; it includes insightful financial analysis and advice. Clients can make informed decisions based on accurate data, which supports business growth and personal financial health. Customizable services cater to the unique needs of each client, offering flexibility and personalized attention.
Timeliness and reliability are also key expectations that customers have. LedgerWise Services ensures that deadlines are met and that financial reports are delivered promptly. This enables clients to focus on their core activities without worrying about the intricacies of financial management.
V. Competitive Analysis
Direct Competitors
LedgerWise Services’s competitors include the following companies:
Kristie Howell
Kristie Howell offers a range of bookkeeping and accounting services, including payroll management, tax preparation, and financial consulting. Price points are competitive, often ranging from $75 to $200 per hour depending on the service. Annual revenues are estimated to be around $500,000.
Located in downtown Oklahoma City, Kristie Howell serves small to medium-sized businesses primarily in the local area. Key strengths include personalized service and deep local market knowledge. Weaknesses involve limited scalability and a smaller team, which can affect turnaround times.
Clampitt David E CPA
Clampitt David E CPA provides comprehensive accounting services, including bookkeeping, tax preparation, financial planning, and auditing. Service rates vary, typically ranging from $100 to $250 per hour. Revenues are estimated to be around $750,000 annually.
Based in the heart of Oklahoma City, this firm services a wide range of industries, including healthcare, retail, and manufacturing. Key strengths are a strong reputation and broad service offerings. Weaknesses include higher price points and less focus on smaller clients.
Larry Pace & Co.
Larry Pace & Co. focuses on bookkeeping, tax services, and business consulting. Pricing is generally in the range of $80 to $220 per hour. Annual revenues are approximately $600,000. They are located in Oklahoma City and serve a diverse customer base including freelancers, small businesses, and non-profits.
Key strengths include a strong customer satisfaction rate and diverse service offerings. Weaknesses involve limited technological integration and fewer specialized services compared to larger firms.
Competitive Advantages
Our competitive advantages lie in our ability to provide superior services that help businesses maintain accurate financial records, comply with legal requirements, and make informed financial decisions. We prioritize precision and reliability, ensuring that our clients have access to the most up-to-date and accurate financial data. Our team of skilled bookkeepers is equipped with the latest technology and software, allowing us to deliver these services more efficiently and effectively than our competition. We also offer personalized support, tailoring our services to meet the unique needs of each client, which helps us stand out in a crowded marketplace.
Additionally, we are committed to proactive communication and transparency, which fosters trust and long-term relationships with our clients. By staying abreast of changes in financial regulations and industry best practices, we ensure that our clients are always in compliance and can focus on growing their businesses. Our local presence in Oklahoma City enables us to understand the specific challenges and opportunities within the regional market, providing a level of insight and service that larger, national firms may not offer. Our dedication to excellence, combined with our local expertise, positions us as a trusted partner for businesses looking to achieve financial success.
VI. Marketing Plan
Our marketing plan, included below, details our products/services, pricing and promotions plan.
Products, Services & Pricing
LedgerWise Services offers a comprehensive suite of bookkeeping and financial management services tailored to meet the needs of businesses in the Oklahoma City area. Each service is designed to streamline financial operations, ensure regulatory compliance, and provide actionable insights for business growth.
Monthly Financial Statements are a cornerstone of LedgerWise Services’ offerings. These statements provide a detailed overview of a business’s financial health, including income statements, balance sheets, and cash flow statements. Clients can expect to pay an average of $200 per month for this service, depending on the complexity and volume of transactions.
Payroll Processing is another essential service provided by LedgerWise Services. This includes calculating employee wages, withholding taxes, and ensuring timely payment. The service also encompasses the preparation and filing of payroll tax returns. On average, payroll processing costs $150 per month for businesses with up to 10 employees, with additional costs for larger teams.
Accounts Payable and Receivable management helps businesses maintain a healthy cash flow by ensuring timely payments and collections. LedgerWise Services handles invoicing, payment tracking, and collections, providing detailed reports on outstanding receivables and payables. The average fee for this service is $250 per month.
Bank Reconciliation services ensure that all transactions are accurately recorded and discrepancies between bank statements and internal records are resolved. This process is crucial for detecting errors and preventing fraud. Clients can expect to pay around $100 per month for bank reconciliation services.
Tax Preparation and Filing is another vital service offered by LedgerWise Services. This includes the preparation of federal, state, and local tax returns, as well as strategic tax planning to minimize liabilities. The average cost for tax preparation and filing ranges from $300 to $500, depending on the complexity of the business’s financial situation.
By offering these key services at competitive prices, LedgerWise Services aims to provide businesses with the financial clarity and operational efficiency needed to succeed in a competitive market.
Promotions Plan
To attract customers, we at LedgerWise Services will employ a diverse array of promotional methods and tactics. Central to our strategy will be online marketing, which encompasses a range of activities designed to increase our visibility and reach potential clients in Oklahoma City, OK.
Firstly, we will develop and maintain a professional website that effectively communicates our services, expertise, and value proposition. This website will feature search engine optimization (SEO) techniques to ensure we rank highly on search engines for relevant keywords. Additionally, we will incorporate a blog section to provide valuable content on bookkeeping tips, financial advice, and industry trends, which will not only help in SEO but also position us as thought leaders in the field.
We will also leverage social media platforms such as Facebook, LinkedIn, and Instagram to engage with our community and share informative content. Regular updates, client testimonials, and educational posts will help build our brand presence and foster trust among potential clients. Paid social media advertising will further enhance our reach, targeting specific demographics within Oklahoma City.
Another significant component of our promotional strategy will be email marketing. We will build an email list through our website and social media channels, offering valuable incentives such as free consultations or downloadable resources. Regular newsletters will keep our audience informed about our services, special offers, and industry news, encouraging ongoing engagement and conversions.
In addition to online efforts, we will engage in local community events and networking opportunities. Sponsoring local business events, attending trade shows, and participating in chamber of commerce meetings will help us build relationships and increase our visibility within the business community.
We will also utilize referral programs to incentivize our existing clients to refer new businesses to us. Offering discounts or service credits for successful referrals will encourage word-of-mouth marketing, which is often one of the most effective ways to gain new clients.
Lastly, we will consider traditional marketing methods such as print advertising in local business magazines and newspapers. Direct mail campaigns targeting small businesses in Oklahoma City will also be part of our strategy, providing personalized information about our services and special offers.
By combining these various promotional methods and tactics, we at LedgerWise Services expect to create a comprehensive marketing strategy that effectively attracts and retains customers in Oklahoma City, OK.
VII. Operations Plan
Our Operations Plan details:
- The key day-to-day processes that our business performs to serve our customers
- The key business milestones that our company expects to accomplish as we grow
Key Operational Processes
To ensure the success of LedgerWise Services, there are several key day-to-day operational processes that we will perform:
- Maintain accurate and up-to-date financial records for all clients.
- Perform daily bank reconciliations to ensure cash flow accuracy.
- Generate and review financial reports such as income statements, balance sheets, and cash flow statements.
- Process accounts payable and receivable transactions efficiently.
- Ensure timely payroll processing and compliance with relevant tax regulations.
- Communicate regularly with clients to provide updates and address any concerns.
- Implement and maintain bookkeeping software to streamline operations.
- Conduct regular audits to ensure data accuracy and integrity.
- Stay updated on financial regulations and industry best practices to maintain compliance.
- Provide training and support to clients on financial management and bookkeeping software.
- Develop and follow standardized procedures to ensure consistency and quality of service.
- Manage and organize physical and digital records for easy retrieval and reference.
- Collaborate with other financial professionals such as accountants and auditors as needed.
- Schedule and conduct regular client meetings to review financial performance and provide strategic advice.
- Monitor and manage the company’s own financial health, including budgeting and expense tracking.
- Market and promote LedgerWise Services to attract new clients and grow the business.
- Provide excellent customer service to build and maintain strong client relationships.
Milestones
LedgerWise Services expects to complete the following milestones in the coming months in order to ensure its success:
- Launch Our Bookkeeping Service: Successfully deploy our bookkeeping service to the market, ensuring all systems and processes are operational.
- Acquire Initial Clients: Secure at least 10 initial clients within the first 3 months to generate early revenue and customer feedback.
- Establish Online Presence: Create a professional website and social media profiles to enhance visibility and attract clients.
- Obtain Necessary Certifications: Ensure all staff are certified bookkeepers to build credibility and trust with clients.
- Implement a Client Management System: Deploy a robust Customer Relationship Management (CRM) system to manage client interactions and streamline operations.
- Achieve $15,000/Month in Revenue: Reach a consistent monthly revenue of $15,000 within the first 12 months to ensure financial stability.
- Build Strategic Partnerships: Form partnerships with local businesses, accounting firms, and financial advisors to generate referrals and expand our client base.
- Hire and Train Additional Staff: Recruit and train additional bookkeepers and support staff as the client base grows to maintain service quality.
- Implement Quality Assurance Processes: Establish and maintain quality assurance processes to ensure the accuracy and reliability of our bookkeeping services.
- Client Retention Strategy: Develop and implement strategies for retaining clients, such as regular check-ins, feedback surveys, and loyalty programs.
VIII. Management Team
Our management team has the experience and expertise to successfully execute on our business plan.
Management Team Members
LedgerWise Services management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:
Hazel Adams, President
Hazel Adams brings a wealth of experience to LedgerWise Services, having successfully managed a bookkeeping firm in the past. Her track record of growing businesses and optimizing financial processes has positioned her as a leader in the field. Hazel’s strategic vision and hands-on experience in financial management ensure that LedgerWise Services will continue to thrive and deliver exceptional value to its clients.
IX. Financial Plan
Summary
Below is an overview of our expected financial performance over the next five years:
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | |
---|---|---|---|---|---|
Revenues | $1,854,983 | $2,008,632 | $2,175,007 | $2,355,163 | $2,550,242 |
Direct Expenses | $733,612 | $770,987 | $810,265 | $851,544 | $894,926 |
Gross Profit | $1,121,370 | $1,237,645 | $1,364,742 | $1,503,619 | $1,655,315 |
Gross Profit (%) | 60.5% | 61.6% | 62.7% | 63.8% | 64.9% |
Other Expenses | $97,085 | $100,030 | $103,065 | $106,192 | $109,414 |
EBITDA | $1,024,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 |
Depreciation | $0 | $0 | $0 | $0 | $0 |
Amortization | $0 | $0 | $0 | $0 | $0 |
Interest Expense | $0 | $0 | $0 | $0 | $0 |
Income Tax Expense | $0 | $0 | $0 | $0 | $0 |
Net Income | $1,024,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 |
Funding Requirements/Use of Funds
To accomplish our growth goals, LedgerWise Services needs $96,000 in funding. Key uses of this funding will be as follows:
Capital Investments | |
---|---|
Location Buildout/Renovation | $20,000 |
Furniture | $5,000 |
Equipment, Machines, and Computers | $10,000 |
Non Capital Investments | |
---|---|
Working Capital | $20,000 |
Initial Rent/Lease (3 months) | $3,000 |
Staff Salaries for the First 3 Months | $30,000 |
Initial Marketing and Advertising | $5,000 |
Supplies | $2,000 |
Insurance | $1,000 |
Financial Projections
5 Year Annual Income Statement
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
Revenues | ||||||
Revenues | $1,854,983 | $2,008,632 | $2,175,007 | $2,355,163 | $2,550,242 | |
Total Revenues | $1,854,983 | $2,008,632 | $2,175,007 | $2,355,163 | $2,550,242 | |
Direct Costs | ||||||
Direct Costs | $733,612 | $770,987 | $810,265 | $851,544 | $894,926 | |
Total Direct Costs | $733,612 | $770,987 | $810,265 | $851,544 | $894,926 | |
GROSS PROFIT | $1,121,370 | $1,237,645 | $1,364,742 | $1,503,619 | $1,655,315 | |
GROSS PROFIT % | 60.5% | 61.6% | 62.7% | 63.8% | 64.9% | |
Other Expenses | ||||||
Salaries | $72,814 | $75,023 | $77,299 | $79,644 | $82,060 | |
Marketing Expenses | $6,067 | $6,251 | $6,441 | $6,637 | $6,838 | |
Rent/Utility Expenses | $6,067 | $6,251 | $6,441 | $6,637 | $6,838 | |
Other Expenses | $12,135 | $12,503 | $12,883 | $13,274 | $13,676 | |
Total Other Expenses | $97,085 | $100,030 | $103,065 | $106,192 | $109,414 | |
EBITDA | $1,024,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 | |
Depreciation | $0 | $0 | $0 | $0 | $0 | |
Amortization | $0 | $0 | $0 | $0 | $0 | |
EBIT | $1,024,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 | |
Interest Expense | $0 | $0 | $0 | $0 | $0 | |
PRETAX INCOME | $1,024,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 | |
Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
Taxable Income | $1,024,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 | |
Income Tax Expense | $0 | $0 | $0 | $0 | $0 | |
NET INCOME | $1,024,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 | |
Net Profit Margin (%) | 55.2% | 56.6% | 58% | 59.3% | 60.6% |
5 Year Annual Balance Sheet
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
ASSETS | ||||||
Cash | $1,085,285 | $2,222,899 | $3,484,576 | $4,882,002 | $6,427,903 | |
Other Current Assets | $0 | $0 | $0 | $0 | $0 | |
Total Current Assets | $1,085,285 | $2,222,899 | $3,484,576 | $4,882,002 | $6,427,903 | |
Intangible Assets | $0 | $0 | $0 | $0 | $0 | |
Acc Amortization | $0 | $0 | $0 | $0 | $0 | |
Net Intangibles | $0 | $0 | $0 | $0 | $0 | |
Fixed Assets | $35,000 | $35,000 | $35,000 | $35,000 | $35,000 | |
Accum Depreciation | $0 | $0 | $0 | $0 | $0 | |
Net fixed assets | $35,000 | $35,000 | $35,000 | $35,000 | $35,000 | |
Preliminary Exp | $0 | $0 | $0 | $0 | $0 | |
TOTAL ASSETS | $1,120,285 | $2,257,899 | $3,519,576 | $4,917,002 | $6,462,903 | |
LIABILITIES & EQUITY | ||||||
Current Liabilities | $0 | $0 | $0 | $0 | $0 | |
Debt outstanding | $96,000 | $96,000 | $96,000 | $96,000 | $96,000 | |
Total Liabilities | $96,000 | $96,000 | $96,000 | $96,000 | $96,000 | |
Share Capital | $0 | $0 | $0 | $0 | $0 | |
Retained earnings | $1,024,285 | $2,161,899 | $3,423,576 | $4,821,002 | $6,366,903 | |
Total Equity | $1,024,285 | $2,161,899 | $3,423,576 | $4,821,002 | $6,366,903 | |
TOTAL LIABILITIES & EQUITY | $1,120,285 | $2,257,899 | $3,519,576 | $4,917,002 | $6,462,903 |
5 Year Annual Cash Flow Statement
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
CASH FLOW FROM OPERATIONS | ||||||
Net Income (Loss) | $1,024,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 | |
Change in Working Capital | $0 | $0 | $0 | $0 | $0 | |
Plus Depreciation | $0 | $0 | $0 | $0 | $0 | |
Plus Amortization | $0 | $0 | $0 | $0 | $0 | |
Net Cash Flow from Operations | $1,024,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 | |
CASH FLOW FROM INVESTMENTS | ||||||
Fixed Assets | ($35,000) | $0 | $0 | $0 | $0 | |
Intangible Assets | $0 | $0 | $0 | $0 | $0 | |
Net Cash Flow from Investments | ($35,000) | $0 | $0 | $0 | $0 | |
CASH FLOW FROM FINANCING | ||||||
Cash from Equity | $0 | $0 | $0 | $0 | $0 | |
Cash from Debt financing | $96,000 | $0 | $0 | $0 | $0 | |
Net Cash Flow from Financing | $96,000 | $0 | $0 | $0 | $0 | |
Net Cash Flow | $1,085,285 | $1,137,614 | $1,261,676 | $1,397,426 | $1,545,901 | |
Cash at Beginning of Period | $0 | $1,085,285 | $2,222,899 | $3,484,576 | $4,882,002 | |
$1,085,285 | $2,222,899 | $3,484,576 | $4,882,002 | $6,427,903 |
What Is a Bookkeeping Business Plan?
A bookkeeping business plan is a document that outlines the strategies you have developed to start and/or grow your bookkeeping business. Among other things, it details information about your industry, customers and competitors to help ensure your company is positioned properly to succeed. Your bookkeeping business plan also assesses how much funding you will need to grow your business and proves, via your financial forecasts, why the business is viable.
Why You Need a Business Plan for your Bookkeeping Business
A business plan is required if you are seeking funding for your bookkeeping business. Investors and lenders will review your plan to ensure it meets their criteria before providing you with capital. In addition, a bookkeeping business plan helps you and your team stay focused. It documents the strategies you must follow and gives you financial projections you should strive to achieve and against which you can judge your performance.