Goals of Franchise Accounting
As the sole owner of your franchise, it is crucial to control the risks associated with being a franchisee while making the most of the advantages. You require strategies for dealing with debt, managing employees, staying on top of cash flow and looking at key performance indicators.
Our Accounting Process in Toronto
We’ll discuss your bookkeeping and franchise accountant needs to determine which package works for you. Once we have assessed your needs, we will create an engagement letter for your review and sign off. At Chartered Professional Accountants, our professional team works on monthly contracts, allowing you to cancel at any time. We’ll send you an email with relevant information and what files to send us to set up the software and CPA representation.
Set a call with one of our CPA’s and review all remaining questions or concerns regarding franchise accounting services. We will set up Cloud Accounting software and send you login credentials. Next, the team at BBS will ask you for your bank and credit card statements each month. Please send them, and your books will be updated by the next month. The software updated your bank account via the secure connection every day, ensuring we can reconcile your accounts.
Now month-end is completed, your chartered professional accountant will accurately reconcile your bank and credit card accounts against general ledger balances. After, we will send you an email with a few uncategorized transaction queries. Respond with the missing details and you are done!