Setting up Simple Financial Management Roseburg OR

Sometimes you don’t need a lot of money to start a business. What you need instead is good financial management. If you plan carefully, control spending, and monitor the money that comes into your business and the money that goes out, you can prevent a monetary emergency later.

Mr. Tommy D. Bentley, CFP®
(541) 673-0412
356 NE Winchester St
Roseburg, OR
Firm
National Planning Corporation
Areas of Specialization
Investment Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $50,001 - $100,000



Data Provided by:
Wells Fargo - Roseburg
(541) 673-2339
662 Se Jackson St
Roseburg, OR
Type
Branch
Office Hours
Mon-Fri 09:00 AM-06:00 PM
Sat-Sun Closed

Chase Bank
(541) 673-8359
929 Nw Garden Valley Blvd
Roseburg, OR
Type
In-store
Office Hours
Mon:9:00-7:00
Tues:9:00-7:00
Wed:9:00-7:00
Thurs:9:00-7:00
Fri:9:00-7:00
Sat:9:00-4:00
Sun:closed

Wells Fargo - Sutherlin In-Store
(541) 459-9466
811 E Central Ave
Sutherlin, OR
Type
In-Store Branch
Office Hours
Mon-Fri 09:00 AM-06:00 PM
Sat 09:00 AM-03:00 PM
Sun Closed

Derek Lenington
Lenington Financial
(503) 928-5585
107 SE Washington Street, Suite 455
Portland, OR
Expertises
Retirement Plan Investment Advice, Cash Flow/Budgets/Credit Issues, Hourly Financial Planning Services, Middle Income Client Needs, Planning Issues for Unmarried & Same-Sex Couples, Investment Advice without Ongoing Management
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Bank of America - Roseburg Garden Valley
(541) 672-7712
780 NW Garden Valley Blvd
Roseburg, OR
Type
Banking Center
Services
Banking Center Services: Change Order, Commercial Deposits, Night Deposits, Drive Up
Outdoor ATM Services: Open 24 Hours, Braille, Accepts Deposits
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-5
Tuesday 9-5
Wednesday 9-5
Thursday 9-5
Friday 9-6
Saturday 9-2
Sunday Closed
Drive Up Hours
Monday 9-5
Tuesday 9-5
Wednesday 9-5
Thursday 9-5
Friday 9-6
Saturday 9-2
Sunday Closed

US Bank - Roseburg Office
(541) 673-2412
619 SE Main St
Roseburg, OR
Languages
Spanish
Drive Up Hours
Mon 09:00 am to 05:00 pm
Tue 09:00 am to 05:00 pm
Wed 09:00 am to 05:00 pm
Thur 09:00 am to 05:00 pm
Fri 09:00 am to 06:00 pm

Wells Fargo - Timber
(541) 673-0003
1701 Nw Garden Valley Blvd
Roseburg, OR
Type
Branch
Office Hours
Mon-Fri 09:00 AM-06:00 PM
Sat 10:00 AM-02:00 PM
Sun Closed

US Bank - Myrtle Creek Office
(541) 863-3131
105 N Main St
Myrtle Creek, OR
Languages
Spanish

Ryan McClung
McClung Wealth Management
(503) 639-4070
1500 NE Irving, Suite 430
Portland, OR
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Planning Issues for Business Owners, Real Estate Investments, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Data Provided by:

Setting up Simple Financial Management

Provided By: 

Don't Launch Your Start-Up Until You Have the Finances Under Control
By Nora Caley

Sometimes you don’t need a lot of money to start a business. What you need instead is good financial management. If you plan carefully, control spending, and monitor the money that comes into your business and the money that goes out, you can prevent a monetary emergency later.

Besides preventing disaster, there are other reasons for sound financial management. If you know how much money your business is making and where the money is going, that can help you estimate your future profits. By making accurate projections, you will be able to decide whether you should expand your business. Your well-organized and accurate financial records might help you get a loan or other funding.
Financial management also makes it easier for you to pay taxes. If you are a sole proprietor or you are self employed, you don’t get paychecks with taxes withheld. Instead, you have to pay estimated taxes four times a year, and financial management makes it easier to figure out how much to pay.

Another reason to maintain good financial management is the analysis helps you see whether your business is succeeding. Sometimes when a business fails it’s not due to a lack of sales, but the inability of the business owner to control how much money the company spends, and how quickly the company gets paid for the products and services it sells. Proper financial management will help you keep track of these important details.

Getting Started

First, make sure you separate your business funds from your personal funds. That means different credit cards for your business and your household, and separate checking accounts.
If you have written a business plan, you might already have a projection of your business’s income and expenses for at least the first year. You can use this part of your plan as a guide for the more detailed financial plan you will write.

If you didn’t write a business plan, or if the financial pages of your plan didn’t include a lot of specifics, then write a cash flow analysis for your business. Start with a spreadsheet. If you have Microsoft Excel, set up a spreadsheet in which the column headings are months, and the rows show money in and money out.

The first row should be Cash On Hand. That’s your starting point, the money you have in the business checking account. The next few rows could have titles such as Cash Sales, Collections from Credit Accounts, and Other Cash Injection. On the bottom of that section, put a row called Total Cash. This section shows cash you actually have, not customers’ payments that you expect will arrive in the mail or be deposited into your account soon.

The next rows show the cash paid out. These rows include purchases of raw materials or ingredients, office supplies, advertising, gas mileage, shipping, and other categories. Don’t forget to include loan payments, credit card fees, and checking account fees. On th...

Click here to read more from Home Business Magazine

© Copyright 2013 Home Business Magazine. All Rights Reserved. Privacy Policy | Terms and Conditions
Infoswell Media