Good financial management is vital to the success of your small business. Financial management includes bookkeeping, projections, financial statements, and financing.
Below are resources regarding finance management, including information on taxes, accounting, fee waivers, and relief for small businesses.
Need help beyond these resources? Our Business Advisors are ready to assist you with financial management and beyond at no cost.
Start with the Basics
Building a solid foundation for your business is of the utmost importance. Be sure to familiarize yourself with some key accounting principles to set yourself up for success!
Some items to keep in mind include opening up a bank account, creating a balance sheet, tracking your ex- penses, determining how you'll get paid, and beyond.
You may decide to get assistance from a professional CPA. Working with accountants will help you keep your finances on track.
Ensure that whoever you work with can manage the following:
- Accounts receivable
- Accounts payable
- Available cash
- Bank reconciliation
Tax and Accounting Government Resources
Calculating and managing taxes can be overwhelming when running your own business. As a self-employed person, you are in charge of claiming business income. Below are some tax and accounting COVID-19 relief re- sources to assist you.
COVID-19 Relief Programs for Small Businesses
Some banks, credit-card issuers, and payment processors have announced disaster-relief initiatives and pro- grams to assist you and your business.
Financial education tools & resources. Provides links to Consumer Financial Protection Bureau, MyFinancialLife, Financial Education Center by Everfi, free virtual workshops, guidance against scams, and unemployment support.
Resources from SCORE, including information about the Paycheck Protection Program.
Compiled resources and access to a dedicated team (via email@example.com) to help answer any questions for SCORE Boston clients. Aside from helpful links, SCORE itself has a Coronavirus Business Resource Hub with funding options from SCORE partners as well as a series of Boston Webinars focusing on dealing with the impact of COVID-19.
Corporate Relief Programs
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