Franchise Accounting

There are three critical factors in Franchise Reporting

1. Monthly/Quarterly Report for Franchisor
2. Monthly Analytical report for Franchisee with gross profit analysis, % of expenses to total revenue and compare with Industry Standard.
3. Monthly Financial Statements

SGA will assist you to get above reports plus take care of your monthly book-keeping.

1. Set up accounting data file either in QuickBooks or any other software as recommended by the Franchisor
2. Allocate and proper classification of all fixed assets cost, leasehold improvement, landlord allowance towards leasehold improvements.
3. Monthly computation of Franchise fees based on gross revenue/collection.
4. Import sales data from point of sales system to accounting software.
5. Monthly reconciliation of credit card collection per bank deposit vs. credit card batch processing report.
6. Bank and credit card reconciliation
7.  Accounts Payable Management
8. Payroll processing with direct deposit to your employee bank account weekly/bio-weekly
9. Payroll tax deposit, preparation and filing of quarterly and annual payroll tax returns.
10. Inventory Management