Supporting Franchisees’ Bottom-line: Recommendations for Franchisors
In the world of franchising, accurate financial information plays a crucial role in both the success of franchise brands and in supporting franchisees. A clear understanding of the financial health of individual franchise units allows the franchisor to provide necessary support and guidance, while franchisees can make informed decisions to drive profitability and long-term sustainability. […]
Handling Chargebacks in Your Financial Reporting
It’s a common practice to report chargebacks as an offset to income or negative income. However, this will result in discrepancies between the POS sales reports and your financial statement. That’s why we recommend reporting chargebacks in your accounts receivable statement rather than your income statement. We’ve put together a quick (2 minute) video to […]
Reconciling 3rd-Party Delivery Statements
Reconciling your accounts is absolutely vital if you want to ensure you aren’t losing money on 3rd-party delivery services. Reconciling will help to ensure you identify discrepancies and can even help to prevent employee theft. We’ve put together a quick (2 minute) video to help ensure you aren’t getting short-changed. You can also read the […]
Point Of Sale Programming for 3rd-Party Delivery Services
To avoid losing money when working with 3rd-party delivery services, it is important to record the sales correctly in your POS system. While not all point of sale systems are pre-programmed to account for 3rd-party delivery, there are usually some steps you can take to program your POS to help with your monthly reconciliation. We’ve […]
3rd-Party Delivery Services and State Rules for Sales Tax Remittance
If you’re a restaurant working with 3rd-party delivery services, it’s incredibly important to know your state’s rules for sales tax remittance – as you don’t want to be overpaying. We’ve put together a quick (2 minute) video to help explain why it’s vital that you stay informed. You can also read the transcript below. With the […]
How a Franchise Accounting Partner Can Help You Run a More Profitable Business
When searching for bookkeeping services, it’s tempting to think about franchise businesses as any other small or medium-sized business. But the reality is, most franchise owners run several locations. This means you’re actually running several businesses under the same umbrella – which makes for different accounting needs. That’s why a specialty franchise accounting partner will better […]
Where You Might Be Leaking Dollars and Impacting Your Bottom Line
As your business experiences the economic impacts of recent years, you’re likely deploying many financial relief strategies to weather the storm. We’re sharing some accounting tips from OnePoint’s Manager of Accounting, Bernadette Gonzalez to help you make sure you don’t leak dollars in a time you can’t afford to. Proper Ring Up and Promotion Procedures […]
