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Finance > The Finance Flow

The Finance Flow - Step 1 - Fee Setting

Modified on: Tue, 16 May , 2023 | 12:33 PM

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Step 1 of the finance flow focuses on fee setting and this is how to add the different fees to your franchisees (ie. royalty fees, technology fees, marketing, etc). This will allow you to set different fee types for different franchisees but calculate them all at one time.

1. To get started navigate to the Finance section on the left menu and click Franchisee Fee Setting.
2. Next click on the green "add new" button in the top menu of the screen.
3. This will display the finance flow diagram to remind you of all 4 steps in the finance flow. You can close this pop-up by clicking go in the bottom corner.
   
   
   
   
4. On the next screen make sure basic fee setting has been selected in the upper left corner.
5. On this screen you will start by choosing which fee type you would like to set. Note that you can also create a new fee type on this screen by choosing the add new option below the fee type drop down list.
   
   
   
   
6. Next choose which calculation method will be used to calculate these fees.
7. Then you will choose which franchisee or franchisees to apply this fee setting to.
8. Next choose whether it's a fixed or percentage based calculation.
9. Then set a starting limit, so I'm going to say the starting limit is $250 a month.
10. For the ending limit we recommend a large number because we hope that the franchisees are making lots of money.
11. Because we chose to calculate this fee based on a percentage, you will now set the fee percentage.
12. One more time you will enter a minimum fee.
13. And then you can choose what type of fee period (weekly, biweekly, monthly, quarterly, semi, annually, annually or custom fee period).If you choose custom then you'll have to create those fee periods in the system
14. Click submit to save your work and move on to step 2 of the finance flow.
15. Please note that you will need to repeat this process for each fee type that you will be charging your franchisees.

If you have any questions on the contents of this article, please email helpdesk@franchisesoft.com for additional assistance. 

 

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