Fill and Sign the Package Small Business Form

© 2016 - U.S. Legal Forms, Inc. FINANCIAL PACKAGE Control Number: US-AB3-PKG TABLE OF CONTENTS I. Form List with Descriptions II. Descriptions of Forms III. Disclaimer I. FORM LIST Included in your package are the following forms: 1. Promissory Note - Payable on Demand 2. Line of Credit Promissory Note 3. Promissory Note with Installment Payments 4. Customer Invoice 5. Detailed Consultant Invoice 6. Expense Report 7. Demand for Payment of Account by Business to Debtor 8. Daily Cash Report 9. Business Credit Application 10. Income Projections Statement 11. Balance Sheet Support Schedule – Inventory 12. Bill of Sale of Goods or Personal Property 13. Bill of Sale by Corporation of all or Substantially all of its Assets II. DESCRIPTIONS OF FORMS Brief descriptions of the forms contained in your Financial Package are found below. Promissory Note - Payable on Demand - This form is a Promissory Note. The form provides that this promissory note is payable upon demand. The agreement also provides that there will be no pre-payment penalty on the note. Line of Credit Promissory Note - A Line of Credit refers to the maximum borrowing power that a lender extends to a borrower. The borrower may draw required amounts from the fixed amount. Usually, it is a credit source extended to any credit-worthy business by a bank or any financial institution. A line of credit includes cash credit, overdraft, demand loan, export packing credit, term loan, discounting or purchase of commercial bills, etc. The borrower may use the line of credit to overcome liquidity problems. Requisite amounts may be withdrawn from the account as and when required. The borrower pays interest only for the amount withdrawn. Promissory Note with Installment Payments - This form is a Promissory Note. The form provides that the borrower promises to pay the lender in monthly installments. The agreement also provides that there will not be a pre-payment penalty on the note. Customer Invoice - An invoice is a document or electronic statement stating the items sold and the amount payable. It is also called a bill. Invoicing is when invoices are produced and sent to customers. It is used to communicate to a buyer the specific items, price, and quantities they have delivered and now must be paid for by the buyer. Payment terms will usually accompany the billing information. Detailed Consultant Invoice - An invoice is a document or electronic statement stating the items sold and the amount payable. It is also called a bill. Invoicing is when invoices are produced and sent to customers. It is used to communicate to a buyer the specific items, price, and quantities they have delivered and now must be paid for by the buyer. Payment terms will usually accompany the billing information. Expense Report - An employer can give a copy of this form to employees so they can keep a record of daily expenses, such as food, gas, phone, entertainment, etc., while on business trips and be reimbursed when they return. Keep the form on file for tax season. Demand for Payment of Account by Business to Debtor - This is a sample letter demanding payment for overdue sums. Daily Cash Report - This is basically a daily cash-flow statement. It can be used to monitor the daily cash income and expenses in your business. Business Credit Application - This form is a sample business credit application that can be used to take information from a business seeking a loan. Income Projections Statement - The income projections (profit and loss) statement is valuable as both a planning tool and a key management tool to help control business operations. It enables the owner/manager to develop a preview of the amount of income generated each month and for the business year, based on reasonable predictions of monthly levels of sales, costs and expenses. As monthly projections are developed and entered into the income projections statement, they can serve as definite goals for controlling the business operation. As actual operating results become known each month, they should be recorded for comparison with the monthly projections. A completed income statement allows the owner/manager to compare actual figures with monthly projections and to take steps to correct any problems. Balance Sheet Support Schedule – Inventory - This schedule is tailored for small businesses. Bill of Sale of Goods or Personal Property - Real property is land and anything permanently attached to it like buildings or trees. Personal property generally includes everything else. Personal property includes rights that are intangible, such as accounts receivable or intellectual property such as a patent or trademark. It also includes movable property. Movable property includes things you can touch, such as furniture, car, and a computer. A bill of sale is a document that transfers ownership of an asset from a seller to the buyer. It can also serve as a basic agreement for sale of goods, and a sales receipt. Bill of Sale by Corporation of all or substantially all of its Assets - In most states, a sale, lease, exchange, or other disposition of requires approval of the corporation's shareholders if the disposition would leave the corporation without a significant continuing business activity. III. DISCLAIMER All information and forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you consult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney. THESE MATERIALS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OR PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.