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Accounting Forms and Contracts for Business Owners
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If you’re a small business owner, you know how frustrating it can be to fill out forms and maintain records. Unfortunately, it’s necessary if you want your business to succeed. If you’re lucky, you have a full-time bookkeeping assistant or have an accounting firm on retainer. But, if you don’t have the budget for external accounting services, you need to find whatever shortcuts you can.
Here, we’ll explain what forms you need to maintain your business and follow state and federal regulations. We will also offer sample forms you can use, such as contracts, financial records, and a solid business plan. This section contains other pertinent forms, including loan and credit agreements, debt collection, and profit and loss statements.
If you have questions about your accounting matters, consult a licensed, certified public accountant (CPA) or business attorney.
Business Banking and Securities
Regardless of the size of your business, you must maintain accurate and updated financial reporting. Not only will you need updated financials for your tax filings, but you’ll also need to keep investors, shareholders, and other stakeholders abreast of your company’s financial health.
You’ll need various forms to run a compliant and profitable business. These include:
Visit Business Banking and Securities Forms for links to other helpful forms. You can also search online for templates for other documents and reports for larger businesses, such as cash flow statements and shareholder equity statements.
Finance and Banking Resources
Whether you’re a government contractor, run a non-profit, or work from home running a small business, you’ll need funding at some point. You’ll likely need a start-up loan if you’re opening a new business. Even if your business has been open for years, you’ll likely need to infuse cash into your company at certain points.
Applying for a Business Loan
Before you apply for a bank loan or small business (SBA) loan, you’ll need to know where your company stands financially. Any lender you approach for a procurement loan will want to see your financial statements. The lender will want to see your accounts receivable statements, your cash-flow statements, and other financial documents.
The good news is that you don’t need a bachelor’s degree in accounting to create these forms. You don’t necessarily even need accounting experience. You can send this work to external bookkeeping services. You can also have your accounts payable person or part-time bookkeeper use accounting software, like Quickbooks, to create these documents.
Of course, if your firm handles government contracts, you’ll want to rely on a more robust accounting system. Any company that does business with the Department of Defense is subject to audits from the Defense Contract Audit Agency (DCAA). You must maintain strict financial records if you work for the federal government. You’ll likely have an accounting manager who handles only federal contracting financing.
For more business loan and financing resources, visit Finance and Banking Resources.
Creating a Business Plan
You’ll need a business plan if you expect anybody to take your company seriously. Lenders and investors will want to see your plan before becoming involved with your company. If you’ve never created a business plan before, that’s OK. Findlaw offers several resources to help you do this.
You can also hire a professional to help with your plan. As your company grows, you’ll want to update your business plan. For example, your target markets and your need for suppliers and distributors will grow as sales increase.
Credit and Debt Collection
Regardless of your business type, you’ll eventually extend credit. If you accept credit card payments, you may face chargeback situations where a customer refuses to honor their payment. Or, if you allow customers to pay by check, you may experience bounced checks. When this happens, you’ll need to pursue debt collection activities to recover your losses.
If you are in the habit of extending goods or services on credit, you’ll need to keep track of your accounts receivable. If you have a staff accountant, they can help track this for you. Most accountants and accounts receivable managers have years of experience overseeing debt collections.
Sadly, unpaid debts add to the indirect costs of running a business. If customers and clients don’t pay their debts, you won’t be able to pay your workers and subcontractors. Collection accounts have the potential to derail your operations, so you must know your rights as a creditor.
Visit Credit & Debt Collection: Forms and Contracts for more information on this topic and sample credit collection forms.
Consumer Credit Laws
Various federal and state laws apply to credit transactions between businesses and consumers. Federal consumer credit laws govern your ability to extend credit and collect unpaid debts. You should understand these laws before pursuing customers and clients who owe your firm money.
The following federal laws govern your company’s credit and debt collection activities:
- Fair Credit Reporting Act
- Fair Debt Collection Practices Act
- Equal Credit Opportunity Act
- Credit Practices Rule
- The Fair Credit Billing Act
- Truth in Lending Act
Not only must you follow these laws for legal purposes, but you also want to do your best to maintain positive client relationships with suppliers, distributors, and other third parties.
Hiring a Small Business Attorney to Help with Accounting
For your business to be successful, you must keep a tight rein on your company’s finances. One way to do this is to staff an entire accounting department. If that isn’t an option, you can use an outside accounting firm to help oversee your company’s financial health.
If you have questions about accounting rules and regulations, contact an experienced business lawyer.
Accounting Forms and Contracts Articles
- Business Banking and Securities Forms
- Credit & Debt Collection: Forms and Contracts
- Finance and Banking Resources
FindLaw will earn a commission if you purchase business formation products through these affiliate links.


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