Overview

Finance Management works by creating records that allow you to capture information and store statuses. Records provide access to a variety of operations, some of which create new records.

The core records within Finance Management are illustrated below, and described in the following table.

 

Record	Description
Master Franchise Profile Account	The core record that defines the master franchisor’s business.
Invoice Runs	An Invoice Run record defines a regular, periodic invoice generation process. Invoices are generated by reading Expenses attached to the Franchise Profile Account and Fees attached to the Franchise Profile Account’s Contract. Invoices and POS Data may be used for Fee calculations.
Invoice Run History	The list of invoices generated within a single Invoice Run, together with details such as when and who ran the Invoice Run.
Franchisee Invoices	Invoices issued by the franchisor to the franchisee. Invoices may be automatically generated through Invoice Runs or be created manually.
Payments	A record of the franchisee’s payment of an invoice.
Credit Notes	You can use a Credit Note to issue a discount to a franchisee. Credit Notes work together with Credit Allocations to allocate credit to one or more invoices.
Franchisee Profile Account	The core record that defines each individual franchise business.
Contract	An active Contract represents the current contract with the franchisee. Contracts contain fee records that appear in generated contracts and are read by Invoice Runs for automated creation of periodic invoices.
Fee	Contract Fees define the on-going, periodic fixed and royalty-based fees payable by the franchisee.
Expense	Expenses are used to recover incidental business expenses such as additional local advertising campaigns. An expense can be charged to a franchise either as a once off payment or as one of a fixed series of payments. An expense is ideally inserted by the person responsible for making the agreement with the franchisee.
Customer Invoices	Invoices issued by the franchisee to their customers form an optional source for royalty-based fee payments.
POS Data	POS receipts generated by the franchisee on receipt of customer payments is an optional source for royalty-based fee payments.

Franchise Profile Accounts, Franchisee Invoices, Payments, Credit Notes and Credit Allocations can optionally be sent to and synchronized from external financial systems.