Franchise Business Support Services
Meet head office requirements so you can Focus on Operations.
Whether you’re a multi-site franchisee, an accounting firm that serves franchisees, a franchisor in need of approved accountants, or a franchise investor with multiple properties to report on, Collab Accounting provides complete franchise support services to meet your compliance, accuracy, and coordination with your head office needs.Â
We’re not just accountants. We’re franchise experts. We know franchise systems, meet franchisor needs, provide streamlined reporting solutions, and help you build strong relationships with your head office.
GDPR Compliant
ISO 27001 & 9001 Certified
Xero Platinum Partner
Quickbooks Platinum Partner
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- Our Franchise Business Support Services
Become a head office-approved accountant
Our goal is to get approved by the franchisor's finance team, thus developing a relationship and having access to the franchise resources.
Align Chart of Accounts with Franchise Reporting Standards
We align your chart of accounts with the head office standards, thus ensuring there are no manual entries required.
Head Office Reporting Packs
We assist in preparing and submitting required packs on a weekly, monthly, or quarterly basis, including sales summaries, expense analyses, royalties, marketing levies, P&L, etc., as required by the head office.
Royalty Tracking and Reconciliation
We calculate royalties based on the agreement, thus ensuring accurate payments, and keep records of the same. We also ensure the head office verifies the same.
Weekly Sales Reconciliation
We assist in the weekly sales reconciliation, including cash, EFTPOS, card, and online sales, thus ensuring accurate sales data and submitting the same to the head office.
Marketing Levy Tracking
We calculate and reconcile marketing levies based on sales data, thus ensuring accurate payments.
Cash vs EFTPOS Reconciliation Accuracy
We assist in reconciling sales data from POS, cash, EFTPOS, and deposits, thus ensuring accurate sales data and protecting margins.
Payroll Reconciliation Against Franchise Award Obligations
We assist in reconciling the same with the applicable awards, thus ensuring accurate payments and avoiding audits.
Supplier Rebate Tracking
We assist in tracking rebates from preferred suppliers, thus ensuring accurate calculation, chasing unpaid rebates, and ensuring the same are correctly accounted for.
- Our Capabilities
We handle the chaos, so you can build your business
Franchise System Experience
We have experience working with various franchise brands, such as Boost Juice, Red Roosters, GYG, Pizza Hut, 7-Eleven, EQ Café, Pappa Flock, Crust Pizza, BP, Metro, and Ampol, to name a few.
Head Office Approved
We strive to be head office-approved accountants for the relevant franchise system, which establishes a direct link with the franchisor’s finance department, demonstrating our expertise and ease of reporting.
Chart of Accounts Expertise
We design your chart of accounts to franchise specifications, which eliminates the need to manually reconcile, reduces the chance of errors, and provides a smooth reporting process.
Multi-Site Management
For multi-site clients, we consolidate reporting, provide location analysis, and produce both consolidated and location-specific reporting as required.
Who We Work with?
Collab Accounting delivers specialized support services tailored to your circumstances. From accountant verification and certifications to strategic retirement planning, wealth management coordination, and senior financial leadership, we provide expert guidance when you need it most.
How we Work?
01.
Franchise System Assessment
We assess your franchise system, agreement requirements, head office reporting, and system nuances, including templates, charts of accounts, and royalty structures.
02.
Head Office Engagement
We liaise with your franchisor’s head office finance team, ensuring your requirements are met and obtaining head office approvals where necessary, thereby ensuring head office confidence.
03.
Chart of Accounts Configuration
We configure your chart of accounts to meet franchise head office reporting requirements, including mapping existing transactions, ensuring consistency, and maximizing the system.
04.
Systems Integration & Setup
We integrate your POS, payroll, EFTPOS, and franchise software, automating data flows where possible, documenting reconciliations, and maximizing system functionality.
05.
Ongoing Bookkeeping & Reconciliation
We manage your day-to-day/weekly bookkeeping, including sales, cash, EFTPOS, royalties, and levies, ensuring franchise compliance.
06.
Weekly Sales Reporting
We prepare and lodge your weekly sales reports with the head office, ensuring timely, accurate, and formatted reporting, including regular reconciliations and verification.
07.
Monthly Reporting Packs
At the end of the month, we provide your head office with reporting packs, including your P&L, expense analysis, royalty and marketing levy information, and other required franchise reports.
08.
Royalty & Levy Reconciliation
We ensure accurate royalty and levy payments are correctly reconciled against invoices, including calculations, ensuring accuracy, and documenting the process.
09.
Payroll Compliance Reviews
We review your payroll against your franchise award, including wage rates and entitlements, ensuring full compliance and documenting your adherence to ensure head office and Fair Work compliance.
10.
Performance Analysis & Advisory
We provide you with performance analysis, including location profitability, cost minimization, and labor cost optimization, as well as benchmarking your performance against system averages.
FAQs
We have experience with many systems in the fast food industry (Boost Juice, Red Roosters, GYG, Pizza Hut, 7-Eleven, EQ Café, Pappa Flock, and Crust Pizza); the fuel industry (BP, Metro, and Ampol); and other retail, hospitality, and service industries. If your franchise is not on this list, we can quickly familiarize ourselves with your franchise system and assist you.
This can vary depending on the franchise system. However, we can show them our expertise, build relationships with the franchise head office finance team, complete required training, and show them consistency in our reporting.
We have robust reconciliations and documentation. In the event the head office disputes royalty amounts, we can provide detailed documentation and research and resolve the issue professionally with the head office. However, we are very accurate, so disputes are rare.
We can certainly do this. We can provide consolidated financial reporting with location-level detail. We can manage 2-20+ locations.
We can assist with setting up the payroll system with the correct award rates, reviewing calculations, ensuring entitlements are correctly calculated, and maintaining compliance documentation. Fortnightly award training is also provided.
This can vary depending on the franchise. However, we can tailor our services to meet your needs.
- Ready to simplify your franchise accounting and reporting?
Contact us today for a free consultation and discover how Collab Accounting’s franchise business support services can ensure compliance, maintain strong head office relationships, and free you to focus on running profitable locations.
