Franchise Accountants

 Whether you’re a franchisee or franchisor, we can help you to get your system right and ensure your accounting is as hassle-free as possible,  and give you a valuable source of information to help you run your business to an optimal level. 

We have looked after several franchisees nationwide for many years. During this time, we have been a leading member of the franchisor’s panel of accountants who look after their franchisees.

We coordinate their services and systems to provide a consistent accounting and reporting framework designed to be simple for the franchisees. We provide data in a format the franchisor can easily consolidate, aggregate and analyse in order to make strategic and policy decisions for their franchise operations.

 In the last few years, a significant challenge was presented in the form of the Making Tax Digital system for VAT reporting. The system being used for accounting prior to MTD (Making Tax Digital) was not built in a way that would  comply with the new rules, so Woodmanston were asked to design and build a new system on behalf of the franchisor. 

This was a big project, but was extremely successful and underlines our technical expertise, problem-solving and system-building abilities. In  overview, the project involved:

• Working with the franchisor and the invoice software provider to identify the key data required for the new system.
• Facilitating an electronic export of that data to be commissioned, providing key data for around 50 franchisees every week in a consolidated data source.
• Controls to minimise errors
• Building error/exception checking controls and notifications into the system.
• required for monitoring purposes.
• Extensive beta testing to ensure robustness before roll-out to the whole franchise group.

This was an extremely successful project which worked exactly as we had  planned and was well-received by everyone who used it. We feel it  demonstrates what we can do with a very specific set of requirements and  in this case an outdated system in need of updating.

Not all projects will require such a fundamental re-think as this one, but  whatever the needs of your franchise business, we’re confident we can help you design and implement the pre-requisites of a reliable, efficient and consistent system to make your franchise operation run like clockwork!

On top of our franchise-specific experience, our other accounting services will give you everything else you need, such as tax planning, growth and expansion advice, all the usual compliance services and much more!