Module 4 - Financial Matters
Intro | Mod. 1 | Mod. 2 | Mod. 3 | Mod. 4 | Mod. 5 | Mod. 6 | Mod. 7 | Mod. 8 | Mod. 9 | Mod. 10
This module includes:
- 8 templates (supporting documents)
- 1 video (walking you through the documents)
This module covers the financial matters you’ll need to know about if you’re going to operate a grocery store. This module will be extra helpful if you’re still in the planning stages of your project, but can certainly be of use to those with stores already in operation as well.
Like technology infrastructure, it’s necessary to establish partnerships with professionals in this field to ensure that everything is as it should be. Specifically, these key partnerships include an accountant and/or payroll specialist, a banker, and a bookkeeper. These individuals will ensure the financial health of your business. It’s important to have very clear responsibilities outlined between these two parties to make sure that none of the things we cover in this module are slipping through the cracks.
Your financial planning begins as early as your business planning does, and happens side-by-side with everything else. Together, the business plans and financial estimations are the best you can do before you’ve actually started, so it’s important to get it right. Once your business is up and running, you’ll have even more financial considerations, which we’ll walk through in this module via five main categories: business & banking setup, taxes & statements, pricing strategy, employees, and cash management, plus eight supporting documents.
Supporting Documentation
Financial Matters Concepts
Financial Demo Remodel Inventory Template
This template is intended to serve as a site walk-through checklist on your project.
Grocery Financial Analysis Template
This template offers a wide range of categories to select from for inputting your financial data, leaving space for multiple estimate scenarios.
Pro Forma Balance Sheet
This is a projected balance sheet for putting all of the quotes and estimates you’ve gathered so far into assets and liabilities in order to make larger judgments about what you can and can’t afford.
Emergency Contact Form template
This document serves as an example of an emergency contact form to be distributed to employees.
Direct Deposit Form Template
This document serves as an example of a direct deposit form to be distributed to employees; whether or not you require direct deposit is up to you.
Consent to Drug Test Template
Consent to drug test mostly comes into play when there's a workplace injury, and a form like this allows you to do so in that case in order to determine if you're liable or not.
Cash Drawer Setup Cheat Sheet
This document shows an example flow of depositing and pulling cash from the bank each week, with sections at the bottom showing an example of standard starting points for drawer consistency.
Timestamps
Click here to access a PDF listing the video timestamps.
Brand names appearing in this training are for product identification purposes only. No endorsement is intended, nor is criticism implied of similar products not mentioned.Content curated and presented by Carly Whorton. Carly can be reached at carlywhorton@gmail.com.Video editing credit goes to Maddie Billings. Maddie can be reached at maddiebillings14@gmail.com.