Setting up Simple Financial Management Villa Rica GA

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.

Saeed Seyedahmadian, CFP®
(770) 363-2889
3445 Jarita Way
Douglasville, GA
Firm
MTS TAX Service, LLC

Data Provided by:
Mr. John L. Grillo, CFP®
(770) 214-0714
205 Lee St
Carrollton, GA
Firm
Grillo & Associates
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Estate Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Richard Earl Prince, CFP®
(404) 376-9243
128 Newnan St
Carrollton, GA
Firm
MassMutual
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000

Profession: Self-Employed Business Owners

Data Provided by:
Mr. David S. Van Gelder, CFP®
(678) 516-0659
1045 Haddonfield Dr
Powder Springs, GA

Data Provided by:
Wells Fargo - Mirror Lake
(770) 456-4915
1997 Mirror Lake Blvd
Villa Rica, GA
Type
Branch
Office Hours
Mon-Fri 09:00 AM-05:00 PM
Sat 09:00 AM-12:00 PM
Sun Closed

Ms. Patti H Puckett, CFP®
(678) 391-0324
3133 Golf Ridge Blvd Ste 201
Douglasville, GA
Firm
Ameriprise Financial Inc
Areas of Specialization
General Financial Planning, Retirement Income Management, Retirement Planning, Small Business Planning, Women's Finances

Data Provided by:
Mr. Steven L. Holmes, CFP®
(770) 832-6837
1606 Maple St
Carrollton, GA
Firm
Holmes Financial Group
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Education Planning, Estate Planning, General Financial Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: Not Applicable



Data Provided by:
Mrs. Casaline Woods, CFP®
(770) 949-9479
PO Box 358
Douglasville, GA
Firm
ING FINANCIAL ADVISERS, LLC
Areas of Specialization
Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Mark D. Freret, CFP®
(404) 409-9055
5845 Millers Pond Ln
Powder Springs, GA
Firm
Covered Bridge Financial
Areas of Specialization
Comprehensive Financial Planning

Data Provided by:
SunTrust Bank
(770) 456-2265
1849 Villa Rica Highway
Villa Rica, GA
Type
ATM, Branch, Commercial Center, Mortgage Office, Investment Center, Drive-Thru
Office Hours
Monday: 9-5
Tuesday: 9-5
Wednesday: 9-5
Thursday: 9-5
Friday: 9-6 Weekend: Sat 9-12
Drive Up Hours
Monday: 9-5
Tuesday: 9-5
Wednesday: 9-5
Thursday: 9-5
Friday: 9-6 Weekend: 9-12

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...

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