Accounting for Franchisors
FBS and their sister company, RMS Accounting have developed a cost effective method of conducting a royalty compliance review. This review, at a small fraction of the cost of an audit, will provide the franchisor with the information necessary to make the right decisions. In most cases the report will indicate the degree of compliance they are getting from that particular franchisee. The next step is a business decision by the franchisor…at this point, a well informed decision.
This review will take little or no effort on the part of the franchisee…merely the copying of certain information and documents they already have. There will be no intrusive visits to the franchisee. The actual work is done by an accounting firm, RMS Accounting, Inc., so there is no question about confidentiality or improper disclosure to unauthorized parties.
The all important Franchisor-Franchisee relationship is maintained and not tainted.
Sample Services for the Franchisor:
- Development of a chart of accounts, financial reports, and statistics to be used by all franchisees.
- Development of internal systems that reflect accountability, while reducing administrative efforts.
- Consolidation of information by region, territory, or nationally, based on consistent accounting methods
- Comparative information by store, region, territory, or nationally.
- Training of franchisees at boot-camp or annual conferences, to assist the franchisor in addressing those financial concerns which are most important.
- A systematic approach to financial accounting.
- System Design
- Business Consulting
- Educational Seminars
- Financial Reporting
- Training Services
- Payment Processing
- Field Support
- Royalty Collection
- Franchisor Accounting
- Outsourced Bookkeeping
- Payroll Services
- Employee Benefit Plans
- Record Keeping
- Accounts Payable Management
- Accounts Receivable Management