Bookkeeping Category

The latest bookkeeping information to help your business.

Business Bookkeeping Strategies for Franchise Owners

If you are an owner of a franchise business you understand how busy it can be running your day to day operations: hiring staff, ordering inventory, and ensuring your franchise runs smoothly.

On top of that, you are responsible for reporting earnings to the head office, paying a monthly licensing fee, a marketing and promotion fee, and meeting your sales targets. While franchisors will often provide knowledge on how to run your business, they don’t always give you the necessary resources on how to keep good track of your bookkeeping and set up the proper accounting systems.

We here at LedgersOnline have felt the same pain as you have. After providing bookkeeping services to franchise owners for several years, we developed a turnkey online accounting service to help entrepreneurs like you by offering a way to better organize your financial documents and keep your books in order.

Here are just a few ways how LedgersOnline can benefit your franchise business and make it run even better:


Access to an experienced, live, dedicated bookkeeper

Our team has the experience and knowledge to offer franchises a turnkey bookkeeping service customized for their unique needs. We work with a variety of software packages and industries and assign a dedicated bookkeeper or accountant to your file.

Having a close one-to-one relationship with a savvy bookkeeper that knows the ins and outs of maintaining the books for a franchise business can reap many benefits over time.


Organize your files easily with LedgerDocs

If you have never run your own business before, it’s easy to become overwhelmed with the amount of paperwork that you are required to keep track of. After experiencing this issue ourselves, we built an online document management software called LedgerDocs.

LedgerDocs can safely store your financial documents online for you with ease and eliminate a lot of excess paper. This frees the franchise owner up along with the franchise’s key staff members who are assigned to keeping track of the paperwork. More time in the day gives you and your core team additional breathing room to developing strategies to grow your franchise.  Reduce the chore of bookkeeping and use this newly freed time to take your franchise to the next level.

There are several ways to easily send your financial documents securely to the cloud via LedgerDocs:

  1. Drag and drop to upload documents that are already electronic and on your computer using any web browser (Chrome, Safari, Internet Explorer, and Firefox).
  2. Scan paper documents and upload them directly to LedgerDocs in one step, or
  3. Use our iPhone or Android app to take a picture of a receipt and upload with a few touches on your smartphone

Once your documents have been uploaded, our bookkeepers can begin working on your franchise bookkeeping right away.


Reduce stress

Failing to back up and organize documents can cost you both time and money, not to mention the worry and headache that goes with it.

Not only does the LedgersOnline bookkeeping service provides you with all the tools necessary to store and manage your files, it makes the process of keeping proper accounting records a simpler task. Removing that related source of daily frustration is a benefit that many people think isn't possible, but once you've tried automating your bookkeeping, you will wonder why it took you this long to remove it.


Access your financial data anytime, anywhere

Hosting your franchise’s accounting data with LedgersOnline allows for users to access accounting and bookkeeping data in real-time, regardless of location. You can enable collaboration between business, bookkeeper, and accountant with anywhere, anytime access to your live financial data.


The bottom line: It’s never been better for a franchise owner to improve returns on their bookkeeping work. With the right team and technology in place, these entrepreneurs can reclaim lost time and devote more energy to their ROI.


Schedule a call with LedgersOnline and let us show you how we can help you grow your franchise by way of better bookkeeping results.


Image: Alpha Stock Images

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Trusted bookkeeping and accounting services provider to businesses for over 10 years.

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