a program of Southwest Solutions

Financial Management

Business Planning
Detroit Resources
Financial Management
Food Industry
Licensing + Permitting
Research + Development

Financial Management

Keeping up with the financial side of owning a small business can feel like a never-ending job. On this page, ProsperUS Detroit gives you a few tools and resources to use to help you do just that. 

Are you looking for some templates that will help you to track your company profitability, understand your numbers and take better decisions? Take a look to these ones:
  • Balance Sheet Template, which is vital to understand the financial position of your company, value your assets, and help the owners and managers to understand weaknesses and strengths to develop strategies.
  • Statement of Cash Flows Template that will provide you with an organizational model to understand the key cash drivers for your company´s operations and compare the Current Period with the Prior Period.
  • Income Statement (Profits and Losses) Template, an Excel Template to enter data of your revenues, costs, operating expenses, profits, which will help you to calculate your real income.
Do you need to sell more and accept credit card payments?
  • Check Square: Complete Get Started Guide, which has everything you need to know to sign up for Square: Credit Card Processing, Sales Analytics, Fast Deposits, Invoicing, etc.
Do you want some expert recommendations? The Small Business Administration provides useful tips on managing finances, accessing funding and much more:
  • SBA – Manage your finances You will find more explanations about the importance of business financials, methods of accounting A breakdown of how to develop Cash Flow Analysis for your business by the U.S. Small Business Association.
  • SBA Get More Funding Find tips to prepare a business case and financial statements to convince lenders, crowdfunders, or investors to fund your small business.
Are you interested to know experiences from other small businesses? check out the following articles and websites:


There are a variety of free accounting software options available to help you create financial statements and help track your business budget. Here are a few popular options:

  • SquareUp
    • Not only does Square offer an easy way to process credit cards, but it also offers ways to manage your accounts and run your company, including: Employee management, Payroll, Point of Sale, Appointments, and Invoices
  • Wave
    • With more than two million users, Wave is one of the most successful online accounting services – and it’s completely free for accounting, invoicing and receipts, although if you want personal technical support you’ll need to pay for it. 
  • Manager
    • Manager is said to be one of the most comprehensive free accounting software out there. Manager provides over 40 different accounting features to help save you time and money all while providing a user-friendly design.
  • Zoho Invoice
    • Zoho Invoice primarily focuses on the invoicing and billing side of accounting. Designed to save you time and effort, Zoho Invoice is also available for download on your mobile device. Zoho Invoice is also integrated with PayPal so it makes receiving payments easier.


If you would like more comprehensive accounting software, the options above also have additional features for a fee. The list below includes accounting software options you have to pay for:

  • QuickBooks 
    • QuickBooks Online is a web-based accounting solution that caters to individual accountants and small businesses. The solution helps with bank reconciliation, tracking expenses, drafting invoices and monitoring financial reports, among others. Offers a 30-day free trial and then premium plans. 
  • FreshBooks
    • Another web-based accounting solution that caters to small businesses. Offers a free trial. Comprehensive and user-friendly software.



Southwest Economic Solutions

Southwest Economic Solutions provides opportunities for individuals and families to achieve greater economic success.

Sign Up for News and Updates

Stay informed, and get involved

Connect With Us

Copyright © 2020 ProsperUS Detroit

Web Design & Development by Douglas Marketing Group