A Good Accountant Is Key to a Good Franchise Operation. Here's How to Find One.
Three experts share tips for getting the most out of your CPA.
1: Hire a Bookkeeper, Avoid a Disaster!
From Barry Knepper, founder, The Franchise CPA
Don’t try to manage your books yourself, sitting at home at 11 p.m. That won’t work, and it will create a terrible chain reaction. Consider: If you don’t have books, then you make it very difficult for an accountant to complete your If you can’t complete your audit, you can’t update your franchise disclosure document (or FDD), and for most companies, that needs to be updated every April 30 in order to sell franchises. So if you haven’t updated your FDD, you’re in a dark period, can’t sell any new franchises, and can’t even to people about new franchises.
