QuickBooks® Based Franchise Services
VBS successfully offers proven financial systems, reporting and bookkeeping solutions to assist Franchisors and Franchisees in their biggest pain points.
Clean and well structured financials are crucial to a Franchise’s success. We at VBS strive to make the often cumbersome and complicated financial processes more streamlined and organized for all ends of your Franchising business. We do this by offering solutions for the whole Franchise structure, ensuring that nothing falls through the cracks and no resources are wasted in misrepresented data. Click below to learn more.
Top to Bottom Organization and Implementation
VBS works closely with Franchisors and Franchisees to ensure all financial record keeping and reporting are succinct and easy to manage
Process Documentation, Training and Transition
All solutions available from our other services
Ongoing Bookkeeping Services
Accounting and Controller Services
Deep levels of consulting for systems and workflows
Point of Sale
Application Integration recommendations
Pioneering new work flow solutions with COO/CFO
Franchise Service FAQ’s
Why should a franchisor be concerned at all about the financial systems of the franchisees?
Franchisors are successful when their franchisees are successful. Many people purchase franchises due to their excitement over the product/service they will be able to provide to their end-customers, and back-office solutions are usually lower on their priority list. Yet accurate and efficient financial reporting is crucial to their success, and their ability to fine-tune their business decisions.
The franchisor also needs consistent and easily accessible financial information from the franchisees for two main reasons:
1) To see potential areas to coach and help the franchisee become more successfully
2) To calculate and collect royalties and advertising/marketing fund fees
These types of reasons make utilizing VBS for all of the financial systems of your business highly recommended.
Does VBS provide ongoing bookkeeping service to the franchisor, franchisee, both?
Yes we do – and we find that a cohesive solution is most easily established when the franchisor and franchisees are using our ongoing services solutions. However, some franchisors have opted to keep their corporate financial support in-house, which is fine. VBS can assist with efficient royalty collection processes if desired. And, some franchisors like to give their franchisees the option to perform their own ongoing accounting, as long as the franchisee adheres to the rules and procedures as established.
Does VBS recommend any specific Point-Of-Sale or other front-end solutions for franchisees?
The needs of each business model vary significantly, so there are no easy answers to the system selection process. Some business models work using QuickBooks® desktop or QuickBooks® Online, alone, for all aspects of customer invoicing/sales receipts and vendor payments. In these cases, a QuickBooks® solution with consolidated reporting add-on may be sufficient. Other businesses need more robust scheduling/payment or Point-of-Sale solutions, of which there are many to choose from with many features/functions. VBS will work cohesively with your COO and/or CFO to identify requirements for these front-end systems, but the ultimate selection decision belongs to the business. We will also help ensure that financial integrations are supported, defined and implemented properly. The repeatability of this defined model will be crucial to the rapid growth of the franchise.