End of Month/Week Reporting

Overview

The End of Month/Week report is designed to calculate royalties and fees. This report gives the franchisor an aggregated view of the brand, but it also eliminates the "surprise" on a franchisee's side of what royalties are due.

• A brand's royalties and revenue category configuration settings determine what data gets into the end of month report.
• A franchisee has visibility into their own End of Period reporting, but not, of course, any visibility into their fellow franchisees' data.
• Franchisees can submit their own end of period reports, OR the franchisor can set an "auto-submit" date on their behalf (recommended)
• If you base your royalties on Invoices then, after the report is submitted, the franchisee is not able to go back and edit invoices included in that report. It will not prevent them from going back to a prior month and generating a new Invoice, however. They will get the below message:

Navigation

The Franchisor End of Period report brings in all your organizations' data to one place. Go to Dashboard>Reports>End of Month.

Your report home screen lets you choose the year and month, listing the organizations and if they have submitted their reports. If you have chosen Distinct in your End of Period Settings, then you will see your individual territories (Accounting Classes). If you chose Aggregate then all territories will be lumped into the Org or Brand royalty settings for this report.

• Refresh will remove data selections and revert back to current month Clicking "Reset" will "unsubmit" any selected submitted reports.
  
• Summary gives a wonderfully-detailed Revenue and Royalties/Fees spreadsheet.
• Details will download the selected organizations/territories to your computer, providing basic revenue data for the period.
• View will give you a more detailed report with all three possible elements - Revenue (with revenue category, service type, channel, etc.), Proposals, Leads & Marketing. You can then download that detailed report.
• Reset sends the data "back to the franchisee," giving them a chance to make corrections, etc.

In the end, it's up the the brand to determine what report works for them.

Reminders and Auto Submit

With Monthly or Weekly revenue reporting, chasing down numbers can be a waste of time. With serviceminder's options on End of Month/Week reporting, a brand can make this a simpler process.

First of all, a Brand Admin can send an automatic reminder to franchise owners/franchise admins... a reminder to submit their monthly reports. This setting is found in Dashboard > Configuration > End of Period Reporting.

1. First, enable Send Submission Reminder
2. Then, enter the Due Date for your reporting
3. Next, enter the number of days before the due date that you wish the reminder to go out

A Brand Admin can set the End of Period report to lock down on a certain date, and then the reports will auto-submit that night around midnight. You do have a choice to send a reminder by itself, without choosing Auto-Submit.

Example: For a monthly report, you want all numbers in hand by the 10th of the month.

• Choose your Auto-Submit On date as the 9th

• Enable the Submission Reminder

• Enter Due Date as the 10th

• Enter Send Reminder number as, say, 5 days before

FAQs

What is the difference between Cash and Accrual for the end of period reporting?

This also ties into your other brand-configuration setting for end of period reporting (Invoices, Proposals Created, Proposals Accepted). Cash is reference to payments taken. Accrual is what has been invoiced (or proposal total). 

As an example, if your reporting mode is based on Invoices then Cash mode means invoices are reported on the End of Period report when payments are applied to the invoice. If deposits are applied to a proposal (and you "Include" deposits for the Deposit Behavior setting), they will automatically carry over and appear as a payment whenever the invoice is generated. 

Accrual combined with Invoices mean that when the invoice is generated, it will appear on the end of period report. It does not take into account payment date. It does not take into account deposits. 

What does the "Date" column refer to on the End of Period reporting?

The date column is the Invoice Creation date. 

What date do I use in "Auto-Submit" if I want reports in-hand on the 1st of the month?

If you want the End of Month report to autosubmit on the last day of every month, enter 31 as the "Auto Submit" date. The End of Month report will automatically treat 31 as the last day of the month if a month doesn't have 31 days.

How do I exclude from the end of month report?

Excluding from the End of Month report is a user permission.

1: Go to the User

2: Click Edit

3: Select Permissions Tab at the top of the Screen

4: Scroll down to Invoices:ExcludeFromEndOfPeriod - select Grant

Can you advise what payments or invoices get filtered out of the end of month report?

For reporting mode: Invoices

• Net Sales (On): End of period reporting will factor in Write Offs and Credit Memos as net sales.
  • Credit memos and write offs are similar in that they are both invoices with a negative balance that can be used to pay off a contact's remaining balance.
  • The difference is that a credit memo is a credit that the contact can use to take off money from their next invoice, while a write off denotes an invoice that you don't expect the contact to ever pay.
• Apply Reductions Before Rate (On): Apply reductions to gross revenue before determining revenue category rate percentage.

How do I know if refunds are included in the end of period report?

Depending on the brand's FDD and royalty settings, refunds may or may not be included in royalty calculations. If the brand set up Net w/ Accrual mode: Write Offs and Credit Memos are included. Refunds are excluded inherently as a part of accrual mode. This is because accrual is reporting on invoice subtotals (not payments on invoices).

Troubleshooting

A location didn’t have the EOM report auto-submit. What settings do I need to check?

Go to Dashboard > Organizations > Edit Org and make sure that Exclude from Reports checkbox is unchecked.

Location has not entered taxes on their invoices and their subtotal EOM tax column is zero. Should they choose a default tax rate to have it turned on or should they add the taxes manually when creating an invoice?

The owner can set a default tax rate - but they'll also want to apply tax rates to contacts that already exist. Check the list of rates from QBO in Control Panel > Invoices > Manage Tax Rates, Mapping. If any others need to be mapped you can set those in the same area.

Then hit Save and Update All. That'll get the right tax rate on customers. Then, make sure the correct Services are marked "taxable", and any applicable Parts marked "taxable". Then the tax should calculate automatically on new invoices.

You can also edit existing invoices and select the tax rate if it isn't selected already.

I noticed discrepancies between this report and the proposal summary and invoice summary reports.

EoM report takes some added configurations into consideration since it is the report used to namely calculate revenue as it relates to what royalties will be collected off of.

If you have Net Sales disabled (Dashboard > Configuration), gross sales are being reported on the EOM/EOW report, which excludes Write Offs and Credit Memos. Both Proposal Summary and Invoice Summary reports include write-offs or credit memos.

If an invoice has already been reported at EOM and the franchisee wants to add Interest and Fees at a later date, what is the best practice on handling these going forward? Create a new invoice?

If the invoice was already reported in the EOM report (and your royalties are based on Invoices), creating a new one for fees/interest would be the right call to keep the accounting straight.

What happens if a franchisee tries to backdate an invoice? 

Users will get an alert telling them to contact their brand administrator if they try to backdate an invoice( when in Accrual Mode) or a payment if you calculate based on Cash Mode.

What is the difference in criteria between the EoM report and other Proposal reports such as Proposal Summary?

"Won" proposals are anything that falls into categories of completed, invoiced, scheduled, and accepted. The Proposal Summary report doesn't just include the proposals created within that month, it includes proposals created in other time frames that happened to have fallen into any of those categories. Some reports from Feb can be in there if you have filtered by the month of March.

EOM looks for any proposal with a creation date for that month and of those how many were won. This data will change if the report is not submitted. 

To summarize: Proposal Summary looks at each segment independently. EoP looks at proposals created in that month and of those how many were won.