Enviro Systems - Franchisees - Administration - Record Keeping and Stock Management

Enviro Systems Renewable Resources - Franchisees

Franchisees - Administration - Record Keeping and Stock Management

Good records constitute a basic tool of good management. Information obtained from records furnishes the basis for managerial decisions ranging form policy formation to day-to-day decisions about routine operations. It is advisable to seek the opinion of your accountant or financial adviser before setting up your business records.

Having a written business plan will allow you to use your business records to track your progress toward your set goals. If you don't know what you should include in a business plan, talk with your accountant.

Keep a record of where each bag of firewood is sold or displayed for sale. This will take a little time, but is necessary to properly manage your franchise. Reconcile these records monthly and provide a copy to Enviro Systems to enable your franchise fee to be calculated

Keep separate bank accounts for the business
Bank all moneys received intact
Pay all expenses by cheque
Check all suppliers' invoices against goods ordered and received before paying them
Raise an invoice promptly for all goods sold on credit and follow up outstanding debtors regularly
Keep proper wages records and ensure you have a copy of the relevant award
Keep all records in an organised manner and set time aside to do bookwork regularly
Retain all records for 7 years
Supply all records to your accountant at the end of the financial year including:
- Cheque book butts
- Bank deposit book
- Bank statements
- Finance company agreements
- Vehicle log books
- Cashbooks
Assess if it would be more beneficial to contract your bookkeeping out, so you can concentrate on your core business. However, when doing so, remember you are still ultimately responsible.

<< Administration Index Page

Back | Top

Site Designed and Supported by:
M-Plex Multimedia Design & Consultancy