Outsourced Bookkeeping For Franchises
BearKat Bookkeeping understands the unique requirements of the franchise model and is a preferred bookkeeping vendor for franchises. Our focus is on helping franchisees grow their businesses while we handle their bookkeeping and accounting.
As a fully outsourced bookkeeping service, we want to become an extension of your franchise team anywhere in the USA. We will provide your business with CPA-ready books at an affordable price.
Franchisors offer business opportunities with brand name recognition, an established customer base, and a proven business model. As a franchisee, you will receive ongoing training, marketing assistance, and corporate support, all of which contribute to the success of your business as well.
BearKat Bookkeeping can relate to the excitement that comes with these benefits of franchise ownership. We also know that it comes with a great deal of record keeping and providing royalty fees with reconciled reports back to the franchisor, which is not quite as exciting for you to deal with!
BearKat Bookkeeping will assist new franchisees with setting up and maintaining their books right from the start to ensure compliance with their franchisors. We also provide services to existing businesses that have been executing their concept model for a while and are now ready for outside bookkeeping support.
Perhaps you are a franchisee who is frustrated or falling behind on your books at the risk of penalties. We can help you quickly get back on track. So, whether you have one franchise unit or multiple units, we hope you will consider outsourcing your bookkeeping to us!
Owner/Operator Franchisee Model
If you are a highly involved operator with a strong passion for the brand, bookkeeping is probably not your favorite part of running your franchise business. The day-to-day bookkeeping tasks detract from the valuable time you could better use promoting your vision with team members, customers, and peers in the industry. BearKat Bookkeeping will work with you behind the scenes to simplify and improve your bookkeeping processes in compliance with your franchisor and CPA requirements.
Franchise bookkeeping and accounting require a specialized skill set and a certain level of technical expertise. Generating useful, accurate, and complete financial statements regularly will reduce the risk of penalties on your business.
BearKat Bookkeeping supports your continued passion and excitement about your business by taking the bookkeeping duties off your plate so that you can focus on your team, your customers, and all the parts you enjoy. We acknowledge that your franchise is your baby! Our expert and affordable services will save you time, trouble, and money and increase your peace of mind.
Semi-Absentee and Executive Franchise Models
Outsourcing your bookkeeping with BearKat is less expensive than employing a bookkeeper when you consider providing salary and benefits to a staff member who cannot scale with your businesses the way we can. You won’t face turnover headaches that come with hiring and training a replacement or trying to fill the void during your employee absences and vacations because BKB always provides a team of bookkeeping support behind you.
Due to our background knowledge and experience with franchisees and their franchisors and CPAs, we can more quickly help you overcome challenges as they arise around bookkeeping, financial reports, and compliance.
We will dedicate a bookkeeper exclusively to your account(s) if the work volume dictates. We will train your boots on the ground with sound bookkeeping procedures that align with your franchisor and CPA’s requirements as we oversee and process the data coming in, so you don’t have to. Our services help provide another layer of accountability and security for your business.
BearKat Bookkeeping will produce a great set of books for your CPA to work with. Our professional bookkeepers, experienced with franchises, are always available to translate between you and your CPA when there are questions.
BearKat Bookkeeping services provide franchisees with
CPA Ready Books
When year-end comes around, you will be relieved that all numbers are in place and ready for taxes. Your CPA is able to focus on reducing your tax liability.
Franchisor Relationship Support
Maintain a great relationship with your franchisor as you meet their financial-related requirements on schedule. With the books handled, you can actively engage more often with your franchisor and industry peers over shared interests, needs, and ideas.
A commitment to your success
Our highest priority is to ensure your books are accurate and in compliance. We equally value good communication and will always be there to answer questions. We will take the time to explain what your numbers mean so that you can make great business decisions.
BKB Franchise Bookkeeping Services:
- 100 % Online & Remote Nationwide Franchise Bookkeeping Solutions
- Serving Franchisors and Franchisees, Both New and Established
- Serving Single and Multi-Unit Operators
- Manage Data Entry
- Accounts Payable and Expense Allocation
- Credit Card and Bank Reconciliations
- Point of Sale Reconciliation
- Royalty Fee Reconciliation
- Payroll Reconciliation
- Inventory Entries
- Sales Tax Processing & Filing (within your State)
- Prepared Financials & Reports
- Reports to Franchisor & CPA
- Year-Ended Responsibilities for Annual Tax Return
- Month-end Closings
- Balance Sheets
- Fixed Asset Maintenance
- Bookkeeping Process and Procedure Development
- Scalable with your business as you change and grow
- *QuickBooks Support
* BearKat Bookkeeping utilizes QuickBooks as the best accounting software for most franchises. QuickBooks is well-known for its user-friendly interface and considerable selection of functions. The online version allows us to manage your financials while giving you access to see the numbers at any time. We also support the desktop versions through remote hosting. QuickBooks integrates with most point-of-sale software for accurate tracking purposes.
Advice from other franchise owners—
If you are a new franchisee, it’s essential to hire an outsourced bookkeeping firm to make sure everything is in order from the very beginning.
“I honestly didn’t know how much work went into accounting and bookkeeping, and so I didn’t worry about it up front. Without the expertise in this area, we let it really get behind, and it was not pretty. Now I send all my information to the outsourced bookkeeper, they understand the corporate requirements for our franchise, they handle it and send everything off to my accountant. I am glad I can go out and do what I do best, instead of staying in the office and dealing with paperwork. And there is lots of it.”
-- Successful Franchise Owner, The Woodlands, TX
The most successful franchisees spend their time building their teams, pleasing their clients, and looking to expand on their success.
“One key to my success is not trying to be an expert in everything. I look for opportunities to outsource those functions which require expertise, like accounting, so that I can focus on my people.”
-- Franchisee of the Year, Multi-State & Int’l Locations