Automated Accounting Business Plan

Executive Summary

Business Cashflow Solutions, Inc. offers small- and medium-sized businesses services that reduce invoicing expenses, speed receipt of monies, and allow authorization and recovery of paper drafts.

1.1 Objectives

1. Total receivables of $38,000 in Year 1.
2. Monthly receivables of $3,000 by the sixth month of operation.
3. Minimum of 10% increase in receivables per month.
4. Receivables of $10,000 per month by the eighteenth month of operation.

1.2 Mission

Business Cashflow Solutions, Inc., offers small- and medium-sized businesses access to services that increase available operating funds by automating accounts receivable for more timely payment, and allowing merchants to accept paper checks with confidence.
As a service company, we pledge to our customers:

1. Exceptional value for all services rendered.
2. Timely response to questions and concerns.
3. Total honesty and integrity.

1.3 Keys to Success

1. Direct, person-to-person marketing.
2. Participation in professional business organizations.
3. Frequent follow-up and reselling the value of our services.

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   Company Summary

   Business Cashflow Solutions, Inc. is a new company that provides "instant cash flow for small- and medium-sized businesses" and reduces expenses associated with invoicing with the following services:
   

   1. Pre-Authorized Checking: Insures that monthly payments are received on time and therefore reduces invoicing costs.
   2. Electronic Payments: Offers timely funds settlements and a built-in recovery for NSF items, thereby keeping invoicing costs reduced.
   3. Electronic Check Conversion: Converts paper check into an electronic item at point-of-sale, saving time and money while reducing the risks of NSF checks.
   4. Electronic Check Recovery: NSF checks are submitted electronically via the ACH network, allowing fast and convenient collection of funds.
   5. Telephone Checks: Allows merchants to accept checks by telephone or fax.

   2.1 Company Ownership

   Business Cashflow Solutions is a Virginia corporation, subchapter S, based in Chesterfield County.
   

   2.2 Start-up Summary

   Our start-up costs come to $33,634. Start-up assets required include $5,885 in short-term assets (office furniture, office equipment, specialized printer, etc.) and $5,500 in initial cash to handle the first 6 months of expenses. The details are included in the following chart and table.
   After planned owner investment of $10,000, you will find that we have $23,364 left to finance. The purpose of this plan is to secure financing for that amount.
   Later in this plan, when you view the Balance Sheet, Cash Flow, and the Profit and Loss, you will notice that we have included debt and interest expenses based on an assumed $23,364 loan, financed at 9.5% for a 3-year term.
   

   

   

   Start-up
   Requirements
   Start-up Expenses
   License/Business Package	$19,990
   Stationery etc.	$350
   Apparel	$400
   Insurance	$207
   Computer (Internet, File Transfer)	$0
   Color Inkjet Printer	$0
   MICR Toner	$325
   Copier Toner	$89
   Software (Microsoft Office, Graphics, Internet Publishing, etc.)	$0
   Miscellaneous Office Supplies	$200
   Telephone Connections	$128
   Setup Answering Service	$20
   Pager	$40
   Cellular Phone	$150
   Web Site Hosting Setup	$25
   Chamber of Commerce Membership	$325
   Other	$0
   Total Start-up Expenses	$22,249
   Start-up Assets
   Cash Required	$5,500
   Other Current Assets	$5,885
   Long-term Assets	$0
   Total Assets	$11,385
   Total Requirements	$33,634

   

   Start-up Funding
   Start-up Expenses to Fund	$22,249
   Start-up Assets to Fund	$11,385
   Total Funding Required	$33,634
   Assets
   Non-cash Assets from Start-up	$5,885
   Cash Requirements from Start-up	$5,500
   Additional Cash Raised	$0
   Cash Balance on Starting Date	$5,500
   Total Assets	$11,385
   Liabilities and Capital
   Liabilities
   Current Borrowing	$23,634
   Long-term Liabilities	$0
   Accounts Payable (Outstanding Bills)	$0
   Other Current Liabilities (interest-free)	$0
   Total Liabilities	$23,634
   Capital
   Planned Investment
   XYXY	$10,000
   Other	$0
   Additional Investment Requirement	$0
   Total Planned Investment	$10,000
   Loss at Start-up (Start-up Expenses)	($22,249)
   Total Capital	($12,249)
   Total Capital and Liabilities	$11,385
   Total Funding	$33,634

   2.3 Company Locations and Facilities

   The office will be located in the residence of XYXY. There is a 200 square foot office area which will house the computer systems and laser printers that are utilized in providing our services.