OnePoint Accounting & Bookkeeping for Franchises & Multi-Unit Businesses

Once operating, the franchisee pays royalties each month, quarter, or year. Sometimes, the fee is a percentage of the net sales or a flat dollar amount. Before paying the fee, the franchisee needs to project how much business capital they will need. Xendoo works with emerging and mature franchises ranging from gyms, to trades specialists and everything in between. In addition to their limited ability to scale, bookkeepers are also limited by which systems they can integrate with. Having your accounting connected to your POS and payroll systems is critical for seamless accounting.

In addition, we work with your franchisor to understand how to best use when outsourcing is not a good idea the tools and systems they have in place to help your operation flourish. Our clients maintain great businesses and our role is to ensure they continue to do so. In franchise accounting, the franchisee owns an individual franchise location. They operate the franchise under the guidelines the franchisor sets. Buying a franchise can help you grow your business faster because of the recognizable brand.

Initial fees

OnePoint gives you the confidence to run your business while our designated account managers make sure you are receiving accurate and timely financial information. Xendoo’s best-in-class interactive dashboard empowers you with 24/7 access to the KPI’s and metrics that matter. We work with you to come up with the right services that work with your internal support. The right accounting partner will also manage your marketing and ad fund. They’ll make sure the fees are collected by collecting the fees and paying difference between paid in capital and retained earnings the bills.

Maximize Your Tax Savings

Franchise accounting and bookkeeping services are beneficial for more than your quarterly reports, taxes, and financial applications. They help you understand the performance of your organization and can identify strengths, weaknesses, and opportunities for growth. We will create reports as frequently as you need them, so you can highlight the costs and profits for each franchise location in which your business does business.

1. You will have a dedicated team of financial experts with you every step of the way.
2. Every financial aspect of your business is impacted by your accounting decisions.
3. The franchisor needs individuals to operate each franchise location.
4. It’s a critical area of assessment for new potential brand partners.
5. By conducting monthly audits, discrepancies can be caught early, ensuring accurate financial records.

Fixed Asset Accounting

From COA to unique business models, it is imperative for consistency within your franchise community. We specialize in turnkey accounting solutions to start, grow, and scale your franchise. We’ll manage your books, taxes and finances so you can focus on growing your franchise business.

They can access the software program from anywhere with an Internet connection so that both parties have instant access financial records. Using a single software provider for accounting and payroll for franchises could also lead to a volume discount for these services. Even if you decide to outsource your books to an accountant, payroll for accountants could drastically decrease the financial burden on your overhead. Keeping good records and meeting franchise standards are paramount when running a fast-paced franchise. You need a financial planner who can provide you with all the franchise accounting services you need and a deep understanding of your industry. Fixed asset accounting is a crucial aspect of franchise accounting services that focuses on managing long-term assets like property, equipment, and machinery.

By having this information readily available, you can be examining the statement of stockholders’ equity in financial statements sure each location is reporting royalties accurately and maintaining detailed financial records. From budgeting, bookkeeping, and payroll to tax compliance and financial analysis, expert franchise accounting services can make or break a franchise’s bottom line. Did you know that over 50% of new franchises fail within the first five years due to financial mismanagement? This alarming statistic highlights the critical role of efficient franchise accounting services, including bookkeeping and payroll, in the success of franchise businesses. Maintaining financial health and fostering success are vital for franchise businesses. Our specialized accounting services cater to the unique needs of franchises, covering everything from meticulous bookkeeping to strategic tax planning.

Errors can lead to incorrect assessments and poor strategic choices. We offer comprehensive accounting and business advisory services for franchises and private companies. When you work with us, you get large-firm knowledge and experience with a local firm’s personalized touch. Our fixed fee structure ensures you avoid surprises and can reach out to us at any time throughout your engagement. The franchisee pays an initial fee, which is like an entry charge to the franchise.

Assurance Dimensions is comprised of skilled professionals with over 75 years of combined public and private company accounting and auditing experience. Plus, our remote auditing capabilities through a secure cloud and web-based software make it easy for you to get the information you need without sacrificing time or convenience. We develop strong client relationships because it is the best way to deliver exceptional advice.