When startups need cash to grow a new business, they usually turn a bank for a loan or seek out investors. But before these parties approve the funds, they’ll want to see a thorough business plan that illustrates what your venture is all about and how it will grow. Apart from the concepts, the most important part of this plan will be a series of financial documents prepared by an accountant. These papers should provide a complete picture of your company’s current financial situation and its projected growth. If you’re preparing a startup plan, here are five essential documents to include.

What Documents Will Help Me Get Startup Funds?

1. Balance Sheet

A balance sheet shows the startup’s current financial position. It should detail your assets—such as cash balances, equipment, and property. It should also illustrate your company’s expenses and liabilities—or the amount of money you owe to other parties.

2. Cash Flow Statement

A cash flow statement shows how much money your business has coming in and how much money is going out every month. If you’re a startup that hasn’t produced income, you might not have this official data. However, your accountant can conduct a financial analysis to project how much cash will be coming in and out of your business each month.

3. Income Statement

An income statement builds off your cash flow statement. It should detail the company’s projected profits and losses for the entire year. This data can help lenders and investors see your plan for small business growth and at what point you’ll break-even—or start earning more than you’re spending.

4. Startup Costs Sheet

This sheet should list the amount of money you need for individual expenses related to your startup. It should illustrate how you’re planning on using the funds you’re getting from an investor or lender.

5. Statement of Equity

A statement of equity should describe what percentage of the company is owned by which parties—such as outside investors. You might also detail how much money has been invested in the company thus far.

To make the preparation of your startup documents a seamless experience, enlist the support of Roy E. Carter, CPA, PC, in Staunton, VA. Serving the business community for more than 20 years, this certified public accountant will provide in-depth consultation to calculate and analyze your financials. In addition to preparing statements, this CPA also provides business consulting services to help you make important financial decisions and achieve growth. Visit this professional online to learn more about his capabilities or call (540) 886-6251 to schedule a consultation.