Projected Balance Sheet FY 2025-26 (Non-Auditable)

Required Documents :

1. -Form 16 (TDS Certificate from employer) if not, Then salary details and Name and address of Employer
2. – All Bank Statements:
   1. – Form 01-04-2024 to at Present date (For 1 Year Estimated Balance Sheet)
3. – PAN Card
4. – Aadhaar Card
5. – Details of Income (Salary, Business Income, Capital Gains, etc.)
6. – Details of Business/Profession Nature (Sales, Purchases, Gross Receipts and Details of Expenditures)
7. – Details of Deductions (80C, 80D, etc.)
8. – Details of Taxes Paid (Advance Tax, TDS, etc.)
9. – Details of Foreign Assets and Income (if applicable)
10. – Email id
11. –  If there is any loan then all the loan details from 01-04-2023 to 31-03-2024  &  01-04-2024 to at Present Date
12. –  Investment details (FD/RD/Mutual Fund/Pension Fund/Shares/Gold/Silver/etc.)/Investment in movable/immovable assets
13. –  Receipts of insurance premium paid (self/family)
14. –  Health Insurance Premium Paid Receipts (Self/Family/Parents)
15. –  Payment receipts of children’s tuition fees.
16. –  Demat Capital Gain Statement from Broker Handle in Excel Format.

Benifit of having Projected Balance sheet of  Proprietorship Firm :

1. 1. Financial Planning: Projected balance sheets help in financial planning by forecasting the future financial position of the business. This allows the proprietor to anticipate potential challenges and opportunities and plan accordingly.
   2. Budgeting: By projecting future assets, liabilities, and equity, a proprietorship firm can create realistic budgets for expenses, investments, and revenue targets. This helps in managing cash flow effectively and setting achievable financial goals.
   3. Decision Making: Projected balance sheets assist proprietors in making informed decisions about investments, expansions, loans, and other financial matters. By understanding the potential impact of their decisions on the financial health of the business, proprietors can make better choices.
   4. Risk Management: By identifying potential financial risks and vulnerabilities in advance, proprietors can implement risk mitigation strategies to protect the business from adverse events. This could include strategies such as building cash reserves, diversifying revenue streams, or reducing debt.
   5. Investor Confidence: Projected balance sheets can enhance investor confidence by demonstrating a clear vision for the future financial performance of the business. This may attract investors or lenders who are more willing to provide funding or support to the proprietorship firm.
   6. Strategic Growth: Projected balance sheets help in planning for strategic growth initiatives, such as launching new products, entering new markets, or expanding operations. By forecasting the financial impact of these initiatives, proprietors can assess their feasibility and plan accordingly.
   7. Performance Monitoring: Comparing projected balance sheets with actual financial results allows proprietors to monitor the performance of the business and identify any deviations from the projected financial trajectory. This enables them to take corrective actions if needed to stay on track with their financial goals.
   8. Stakeholder Communication: Projected balance sheets can be used to communicate with stakeholders such as employees, suppliers, and customers about the future financial outlook of the business. This transparency fosters trust and confidence in the proprietorship firm.

   Overall, having a projected balance sheet for a proprietorship firm offers numerous benefits in terms of financial planning, decision-making, risk management, and strategic growth, ultimately contributing to the long-term success and sustainability of the business.