Retail stores and franchises are always looking for ways to run the day-to-day operations of their businesses at their peak efficiency. In such populated and competitive sectors, successful retail and franchise accounting practices are vital to understanding the financial conditions of a retail store or franchised business.
Retail and franchise accounting involves a combination of managing the financial information on the retail balance sheet and income statement, as well as managing indirect financial impacts such as inventory management and bookkeeping. We understand the ins and outs of accounting for retail and franchise stores and can help our clients focus on their financial growth and success.
Our experience with the rent-to-own industry gives us a wealth of knowledge in the world of retail and franchise accounting, allowing us to provide a wide variety of retail accounting and tax-related solutions to businesses. We work with many businesses on their retail accounting practices, including rentable electronics, furniture, appliances, wheels and tires, and more. We also work with restaurants and other retail service-related entities, both franchised and privately owned.
Having a trusted and experienced partner such as Rivero, Gordimer & Company assist with your retail and franchise accounting practices can save you time and ensure your business is in line financially with all the latest laws and tax codes.
We Work With Several Franchises:
Rivero, Gordimer & Company works with a variety of franchises and understands franchise accounting needs from start-up and initial financing to recording the operational activities and sales transactions. Additionally, we can assist organizations with exit activities such as business valuations and quality of earnings reports. We advise franchisees and franchisors on accounting, tax solutions, and more. Here are some of the services we provide:
- Accounting Services
- Strategic Tax Services Like Planning and Preparation
- Complex Payroll Services
- Auditing and Assurance Services
- Litigation Support
- Business Consulting and Project Budgeting
- Merger and Acquisition Consulting
- Succession Planning
- Employee Retention Credit/PPP Assistance
Franchises have enough to worry about running the daily operations of their business. Adding on the intricacies of franchise accounting and tax preparation only contribute more to those daily operations. Choosing to have their tax preparation, consulting, and financial reporting requirements performed by our franchise/retail team at Rivero, Gordimer & Company allows business owners to run their business operations with the confidence and security in knowing a trusted, experienced, and reliable CPA firm is there to help.
Contact our Retail Accounting Team
Keeping up with the latest industry trends and insights allows us to better partner with our clients on advising their tax and accounting decisions and solutions. Our CPAs are constantly keeping up with the changes and best practices associated with franchise and retail accounting.
If you would like more information about how RGCO represents franchisors, franchisees, and independent retailers, please contact us today.