Franchise Accounting

Franchise Accounting from Ekw Group

By: Ekw Group  10/12/2009
Keywords: accountants, Accounting & Bookkeeping Services, Accountancy Services

Purpose-built retail on-line accounting solution to support and enhance your franchise.

The EKW Group offers a comprehensive range of franchise accounting, payroll and retail support solutions nationwide. Established internationally in 1935, EKW is a leading accountancy expert helping independent franchisees and entire franchised estates to flourish.

EKW are affiliate members of the British Franchise Association and bring together a unique blend of traditional accountancy expertise and professional business advice. Unique to the world of franchising, EKW offer the web-hosted CounterBooks retail accounting system.

CounterBooks is an online franchise accounting system and management tool.

If you’re a franchisor, CounterBooks allows (where appropriate and authorised) you instant analysis of any aspect of the financial performance of your franchised estate and transparant access to the franchisees’ accounts to ease the compliance requirements of the franchisee agreement. Remote access is available even down to transactional data level, if required.

If you’re a franchisee, CounterBooks provides you with a comprehensive range of tools that help to manage your business finances dynamically and we’re with you every step of the way. A true win, win situation with tremendous benefits for the strength of the franchised brand. We like to think we take the pain out of number-crunching. (I bet you never thought accountants could do that!)

Less paperwork

*Paper forms, books and sending off invoices for data entry are methods of the past. Everything franchisees need is organised and processed online, with instant reporting and analysis available 24/7.
*Monthly or quarterly management accounts (operating statements) are provided as electronic documents and will be in an agreed format standardised across a network.

Better financial control

*Head office reporting and query functionality allows franchisors the potential to maximise the brand profit potential whilst offering protection by identifying failing franchisees and potential bad debts before they happen so business recovery or other support can be implemented.
*CounterBooks can work seamlessly with the franchise business planning and forecasting system to provide variance analysis of actual results against expectations.
*Management and financial reports are always up to date, which helps franchisees manage their business more efficiently.
*Multi-site franchises are fully catered for.With online validation, franchisees can identify issues sooner and avoid problems.
*Franchisees can call the EKW bookkeeping help desk at any time during working hours.
*Even out of hours franchisees can use the CounterBooks secure message system.
*An EKW Account Manager can work closely with a franchisor to deliver maximum benefits and an unparalleled user experience.

Reduced costs

*At month end, the processing of financial statements is automated. EKW, as the franchisee’s accountants, can access the system for the preparation of the management and financial accounts which leads to reduced accountancy fees.
*By using the system as part of a normal daily routine, franchisees are recording all the required bookkeeping information.
*We’ll keep the estate compliant with tax and VAT rules and deadlines so franchisees avoid punitive fines.
*Data can be uploaded from point of sale or back office systems. A network data transfer and management solution is available to minimise capital expenditure requirements.
*With the system accessible from anywhere through the internet, the need for travel is reduced.
*Staff can be utilised at multiple locations and work can be outsourced.

Minimise risk   -   Maximise profitability   -   Get control of your franchise.

Keywords: Accountancy Services, accountants, Accounting & Bookkeeping Services, business accounts