Opening and operating a franchise comes with a wide range of expenses. Upfront costs include the initial franchise fee, construction costs, equipment, legal fees, and more. Ongoing expenses include inventory, payroll, mortgage or rent, utilities, and insurance. It’s a lot to keep up with. But accurately tracking your expenses is critical to your profitability.
Financial management for franchises presents some unique challenges. As your business grows, and you consider adding additional locations, keeping track of your expenses can be increasingly difficult. You need to be able to accurately record and categorize expenses for your entire franchise business, but at the same time, it’s important to see expense information for individual units. Each of your franchises needs to be able to access their own cost information. And you need the ability to accurately allocate expenses across units. But multiple locations and multiple information sources can make it hard to see – and understand – the expenses for your entire business.
Whether you’re operating a single franchise location or a multi-unit franchise business, Sage Intacct provides the comprehensive view and flexibility to track and manage your expenses. Our cloud-based solution gives you a single platform for managing your franchise finances and eliminates the need to handle and reconcile information from multiple disparate sources. Real-time access and customized reports give you the big-picture visibility you need. Want to know more? Call MicroAccounting today at 855.876.3773.