Meru Accounting

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Experience Hassle-Free

Franchise Business

Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person

Monthly Bookkeeping, Payroll, Financial Statements or Tax returns for Property sector and Real estate business
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Hire Remote Team

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Tax Return Filing By Certified CPA / Enrolled Agent

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QuickBooks And Xero Certified Experts

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50% Reduction In Costs

Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person

Monthly Bookkeeping, Payroll, Financial Statements or Tax returns for Franchising Sector and Chain Business

Accounting 7 2 2
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Quality Driven
Approach

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QuickBooks and Xero Certified Experts

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50% Reduction in
Costs

Part Time/Full Time Resources For

⚪ CPA Firms
⚪ Enrolled Agents
⚪ Bookkeeping Firms
⚪ Tax Practitioners

Hire Remote Team​

Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person

Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Franchising Sector and Chain Business
icon12 e1683034486921 1 1

Quality Driven Approach

WEB BANNER 011 1

QuickBooks and Xero Certified Experts

WEB BANNER 000

50% Reduction in Costs

Part Time / Full Time Roles For

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9+

Years Of Success

600+

Happy Clients

1,100+

Completed Project

250k+

Hours Of Experience

20+

Software Used

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Bookkeeping software expertise

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End to End Remote Bookkeeping & Accounting services for Business Owners & Accounting firms

Meru Accounting is a CPA firm providing complete outsource bookkeeping and accounting solutions to CPAs and small & medium-sized businesses across the United States, United Kingdom, Australia, New Zealand, Hongkong, Canada, and European countries.

bookkeeping services
Bookkeeping Service

Regular Management Accounts for your Business, We serve bookkeeping services for different industries.

XeroSetup
Setup Xero/Quickbooks

Set up your accounting software in a day through our checklist, for converting a client from your legacy software to Xero.

CPA
Bookkeeping for CPAs

We help CPAs to reduce 50 % of their cost by outsourcing recurring tasks to us, with trust and security.

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Payroll

We do Payroll for all countries in all software and comply with all tax formalities of the IRS, HMRC, ATO, etc.

Payable Accounting
Payable Accounting

Manage your Payables on daily basis, cost-effectively with reduced invoice discrepancies and disputes.

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Indirect Tax

We do BAS, VAT, GST101A, Sales Tax, etc. reduce attribution errors and costs, and ensure indirect taxes are handled correctly.

Franchise min

Franchise Business is like a branch or start-up industry that caters main brand’s business in various locations with limited establishment and setup. However, various entities such as a franchisor, franchisees and other regulatory authorities function in this business.  

For smooth running and proper functioning of their businesses, franchise organizations require reporting of statements. These statements are of revenue earned, profit, and loss incurred, and business updates concerned with its operations to the concerned franchisor. Then, this reporting takes place ranging from weekly to quarterly and annual periods. They base it on the specifications laid down by the parent company and other regulatory authorities like the ‘Federal Trade Commission’.  

Even the franchisor is required to share details and documented information for accounts to the respective franchises that he uses as a reference and for updating. This refers to the franchise disclosure document (FDD) which is a legal report that a franchisor presents to the franchise buyers. Thus, on request, the franchisor should present this document along with other audited financial reports.  

Best Practices for Bookkeeping in Franchise Business

One of the best practices for bookkeeping in a franchise business is to keep detailed records of all transactions. This includes keeping track of all expenses and revenue generated by each location separately. By doing so, you can quickly identify any discrepancies or potential issues that may arise. Another important practice is to use accounting software to streamline the process. Accounting software makes it easier to organize data and generate reports quickly. It also reduces human error, saving time and resources. It’s also essential to develop a standardized system across all locations in your franchise network. This includes creating uniform chart-of-accounts (COA) codes that every location uses consistently for income statements and balance sheets. In addition, outsourcing bookkeeping tasks can free up valuable time for franchise owners who would instead focus on growing their businesses rather than getting bogged down with administrative tasks like record-keeping. Regular audits should be conducted at each location periodically to ensure compliance with local laws/regulations while catching errors early on before they become significant problems down the road.

FRANCHISE INDUSTRY

Case Study

How to Do Accounting for a Franchise Business?

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Profitability with a franchise system

Profitability is a fixed portion of revenue franchisee calculated in percentage form. It is a variable of the fees that is set by the parent company or the franchisor. Therefore, this fee is a determinant of the profit that the franchisees earn. It is a fixed percentage of the revenue made by an organization. Hence, it is also important to set fees based on the ability of the franchise industry to incur start-up costs so as to provide working under a brand name and its products and services. The one time they account for franchise fees is by implementing a policy that will help to calculate the amount to be deducted from the business income tax return. 

We can account for franchise fees in various ways. It depends on the franchisee’s convenience and the requirements of the franchise organization and parent company. Two of the most basic account management techniques are ‘franchise royalty fees’ and ‘franchise fees amortization’. 

So, through these types of accounts, the franchisee pays its fees over time, which splits up monthly, quarterly, or yearly. The royalty fee is an income for the franchisor which is obtained on the establishment of the Franchise Business. It is a fixed percentage amount of the gross sales that the franchisee pays. Franchise fee amortization is the distribution of the franchise fee over a predetermined period, either yearly or monthly. 

Components of bookkeeping in franchise business?

Conclusion

Franchise businesses are a common form of business model, in which the franchisor permits a local business owner, known as the franchisee, to use their products, brand and operational system. The franchisee pays an initial fee and continues to pay royalties to maintain these privileges, while also benefiting from training, marketing help and guidance from the franchisor. This often takes place in sectors such as retail, fast food or services. As part of this agreement, the franchisee must adhere to certain practices with regards to product offerings, marketing strategies and customer service processes. 

Hiring Virtual Accountant With Meru Accounting

Meru Accounting provides world-class services that cater to all the needs of cloud accounting and bookkeeping of your business.

We work on the best accounting software like Xero and Quickbooks, as well as add-ons that will make sure all your work is up-to-date.

Help you with switching from your traditional software to Xero and Quickbooks.

We also manage VAT, BAS, Sales Tax and Indirect taxes for you so you are always ready at the end of the financial year.

When you choose to outsource your accounting work with us, it benefits you in the following ways:

  1. 1. Cost-saving
  2. 2. Access to skilled and experienced professionals
  3. 3. Better management of books of accounts
  4. 4. Decreased chances of errors
  5. 5. Improve business efficiency
  6. 6. De-burdens in-office employee’s dependency
  7. 7. Better turnaround time

We work on virtual technologies like Team Viewer, Virtual Private Network (VPN) to share and access data from your system.
You have to share your accounting software login details.

Through that, we complete all of your work and update it on the cloud, so you can have access to your data from anywhere and at any time.

Software is not a barrier for us. Due to our strong and professional accounting knowledge, we can prepare your books in almost any of the accounting software.

Our experts are always all ears to listen to your queries regarding bookkeeping and accounting or our services. You can contact us anytime by visiting: Contact Us page.

 

We provide our bookkeeping services at the rate of US $10 per hour. So, you only need to pay for the amount of time actual work is done.

 

 

We take certain preventive measures to secure your data, like:

  • Cyberoam Firewall to prevent any kind of foreign threat.
  • Dual-step authentication
  • Implement anti-virus
  • Limit user access so that login details are with a few people.

Meru Accounting work on some of the best accounting software’s like:

  • Xero
  • Quickbooks
  • Netsuite
  • Saasu
  • Wave
  • Odoo

Along with that, we also work with many add-ons like Workflow Max, Receipt Bank, Slack, TradeGecko etc., to extend your software’s capacity and improved work experience.

To book for trial, call us on our numbers or Please fill out the form here.

Our Work Information

We have combined team of Professionals. Seniors are generally Certified Chartered Accountants. Junior Bookkeepers are having Qualifications like Bachelors of Commerce, Masters of Commerce, Masters in Business Administration in the subject of Accounts and Finance, Intermediate level Qualification of Chartered Accountancy, etc.

For information visit our work methodology page.

We prepare a checklist of information required for bookkeeping and send you at timely intervals so as to ensure that we can do bookkeeping faster.

 

We can provide to you once we move ahead in our interview.

We serve clients on MYOB and have expertise working in Essentials, Account Rights Plus, etc.

Yes, We are presently processing Payroll for Number of clients in US , UK and Australia and take care of complete payroll activities.

 

Goods and Service tax (GST) is levied on sales of all the goods and services in Australia. GST is generally chargeable at 10% of value of sales.

 

Business Activity Statement is a predefined form to be submitted to the Australian Tax office by all the business persons in order to report on their all the tax obligations during the period covered.

BAS is generally required to be filed quarterly by various businesses.

Individual Business Owners

Yes, Owner of the business can prepare sign and lodge the tax return on his own. Its not mandatory that the Tax return needs to be signed by an EA or CPA.

No , its not mandatory that it should be prepared by only CPA or EA. It can be prepared by anyone who has PTIN.

We have Enrolled Agent who has the Authority to sign the documents for our clients after completing the through professional check.

 

Meru Accounting has its operational centre in India and hence the prices are quite less as compared to US based CPA’s and Enrolled Agents.

 

Meru Accounting has a team of Tax experts. Each Tax expert prepares around 300-400 Tax returns every year for various CPA’s in United States and Individual Businesses like yours. Due to this vast Experience and Robust Quality Check processes in place we can ensure you about correct Tax planning for your firm.

 

Hiring Virtual Accountant With Meru Accounting

Meru Accounting provides world-class services that cater to all the needs of cloud accounting and bookkeeping of your business.

We work on the best accounting software like Xero and Quickbooks, as well as add-ons that will make sure all your work is up-to-date.

Help you with switching from your traditional software to Xero and Quickbooks.

We also manage VAT, BAS, Sales Tax and Indirect taxes for you so you are always ready at the end of the financial year.

When you choose to outsource your accounting work with us, it benefits you in the following ways:
  1. Cost-saving
  2. Access to skilled and experienced professionals
  3. Better management of books of accounts
  4. Decreased chances of errors
  5. Improve business efficiency
  6. De-burdens in-office employee’s dependency
  7. Better turnaround time

We work on virtual technologies like Team Viewer, Virtual Private Network (VPN) to share and access data from your system.
You have to share your accounting software login details.

Through that, we complete all of your work and update it on the cloud, so you can have access to your data from anywhere and at any time.

Software is not a barrier for us. Due to our strong and professional accounting knowledge, we can prepare your books in almost any of the accounting software.
Our experts are always all ears to listen to your queries regarding bookkeeping and accounting or our services. You can contact us anytime by visiting: Contact Us page.
We provide our bookkeeping services at the rate of US $10 per hour. So, you only need to pay for the amount of time actual work is done.
We take certain preventive measures to secure your data, like:
  • Cyberoam Firewall to prevent any kind of foreign threat.
  • Dual-step authentication
  • Implement anti-virus
  • Limit user access so that login details are with a few people.
Meru Accounting work on some of the best accounting software’s like:
  • Xero
  • Quickbooks
  • Netsuite
  • Saasu
  • Wave
  • Odoo
Along with that, we also work with many add-ons like Workflow Max, Receipt Bank, Slack, TradeGecko etc., to extend your software’s capacity and improved work experience.

To book for trial, call us on our numbers or Please fill out the form here.

Our Work Information

We have combined team of Professionals. Seniors are generally Certified Chartered Accountants. Junior Bookkeepers are having Qualifications like Bachelors of Commerce, Masters of Commerce, Masters in Business Administration in the subject of Accounts and Finance, Intermediate level Qualification of Chartered Accountancy, etc.
For information visit our work methodology page.
We prepare a checklist of information required for bookkeeping and send you at timely intervals so as to ensure that we can do bookkeeping faster.
We can provide to you once we move ahead in our interview.
We serve clients on MYOB and have expertise working in Essentials, Account Rights Plus, etc.
Yes, We are presently processing Payroll for Number of clients in US , UK and Australia and take care of complete payroll activities.
Goods and Service tax (GST) is levied on sales of all the goods and services in Australia. GST is generally chargeable at 10% of value of sales.

Business Activity Statement is a predefined form to be submitted to the Australian Tax office by all the business persons in order to report on their all the tax obligations during the period covered.

BAS is generally required to be filed quarterly by various businesses.

Individual Business Owners

Yes, Owner of the business can prepare sign and lodge the tax return on his own. Its not mandatory that the Tax return needs to be signed by an EA or CPA.

No , its not mandatory that it should be prepared by only CPA or EA. It can be prepared by anyone who has PTIN.

We have Enrolled Agent who has the Authority to sign the documents for our clients after completing the through professional check.
Meru Accounting has its operational centre in India and hence the prices are quite less as compared to US based CPA’s and Enrolled Agents.
Meru Accounting has a team of Tax experts. Each Tax expert prepares around 300-400 Tax returns every year for various CPA’s in United States and Individual Businesses like yours. Due to this vast Experience and Robust Quality Check processes in place we can ensure you about correct Tax planning for your firm.

What Our Clients Say

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What Our Clients Say
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We Service All Types Of Industries

Construction Industry

Real Estate Industry

Lawyers

Advertising & Marketing Industry

Physicians Doctors Physiotherapist Dentist

Pharma

Online/ ECommerce

Nonprofit Organizations

Franchise Business

Amazon Sellers

Rental Business

Mining Industry

Manufacturing Industry

Information Technology & SAAS Based Companies

Age Care/ Health Care/ Spa & Saloons

Logistics, Transportation & Trucking

Travel, Tourism & Entertainment Industry

Trading /Brokers

Power & Infrastructure

Wholsale & Retail Industry

Gems & Jewelry Retailer & Exporter

Education

Brick & Mortar Industry

Professional Training Business

Consultancy Business

Aerospace Industry

Financial Services

Energy

Restaurant & Hotel Business

Professional Services

Our Young and Dedicated Team
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