Can I Integrate QuickBooks Online with Any Franchise Software?
Let’s cut right to it–in response to the question posed in the title: yes and no.
Does franchise software exists that allows you to seamlessly integrate your financial information with QuickBooks Online? Yes! FranchiseSoft’s Finance Module allows you to optimize roll-up reporting of data and collection of royalties and other fees from franchisees by simplifying the process of submitting financials with automatic or manual royalty calculations at the franchise unit level or master/area rep levels. And it works seamlessly with QuickBooks Online to save you time and make your financial management that much better.
But can you integrate QuickBooks Online with any franchise software? Not a chance. It takes a special kind of franchise software–one created by and for franchise owners who understand the multi-level financial demands that franchisees and franchisors face.
Today’s post explains what makes our franchise software special and spotlights some of the functionality that our solution provides for your brand’s financial management.
Spend Less Time Counting Money And More Time Making Sales
It might sound counterintuitive, but all the time you spend counting and tracking your finances might actually be costing you money!
Manually inputting financial data eats up costly labor hours, and you effectively pay double (or more) every time an employee has to re-enter the same information to work around franchise software incompatibilities.
Eliminate redundancies and “busywork” like this was one of the goals we set out to accomplish when designing our franchise software. That’s why we developed something with exceptional cross-platform compatibility, something that could cut out the need to manually input sales information, automatically calculate royalties at the franchise unit level or master/area rep levels, simplify the process of submitting financials, and more.
Process Payments On Device, On Demand
Earlier this year, FranchiseSoft founder Jam Hashmi appeared on an episode of Social Geek Radio to discuss all things franchising. Over the course of his talk with Jack Monson, which covered everything from the viability of chat bots to the future of digital marketing, Jam reiterated how important it is for modern franchise owners to be able to meet their clients and business associates on device, on demand.
In terms of payment processing, that means being able to work with whatever payment gateway and device the other party prefers. And in today’s highly competitive, convenience-based culture, your ability to process payments on their terms could be the difference between whether or not you secure a sale or develop your franchise.
Don’t buy it? Ask yourself this: have you ever tried to purchase a product or service online, only to find that the company doesn’t support your preferred payment method? If so, what was your next move? Did you sign up for a credit card or create and authorize a PayPal account just to give that company a sale? Or did you simply move on to somebody who was willing to work with your preferred payment method?
Designing our franchise software to integrate seamlessly with QuickBooks Online was a step in the right direction, but we didn’t dare stop there.
In addition to its seamless integration with QuickBooks Online, our franchise software allows users to process royalty payments and customer invoices using all of the following gateways:
- NACHA File Processing. The NACHA file format is one of the most common types of payment files used to execute mass payment batches. It is typically used by franchisors for domestic ACH payments through the Automated Clearing House Network.Our franchise software lets you create NACHA files for royalty processing by direct payment via ACH. Additionally, franchisors can download NACHA files and upload them to their banking institutions, where they will automatically debit your franchisee’s accounts and credit your franchisor account based on your specific fee settings.
- PayPal. According to research by Statista, there were 286 million PayPal accounts active worldwide by the second quarter of 2019, which represents a 17% year-on-year growth rate.For many of these users, PayPal is the preferred payment method. This is especially true for those who do not have credit cards, which is a growing trend among Millennial consumers, according to research by the Financial Post.
Our franchise software is fully compatible with PayPal, eliminating the need for checks or money orders and giving every business owner the ability to request payments from anyone with an email address.
- Authorize.net. Authorize.Net makes it easy to accept electronic and credit card payments in person, online or over the phone. As a leading payment gateway, Authorize.Net is trusted by more than 430,000 merchants, handling more than 1 billion transactions and $149 billion in payments each year. If you want to do business with those half a million users, you need to accommodate their payment preferences. Our franchise software makes it easy!
- Franchise Payment Network (FPN). The Franchise Payments Network is the only payment processing company solely dedicated to the franchise industry. It’s a preferred tool for franchisor’s initial assessment, plan development, resources identification, POS roll out, franchise marketing and consumer marketing, and it’s 100% compatible with our franchise software!
- Point of Sale Integration. If your franchisees use Toast or iConnect, our franchise software can make life easier for the entire franchise family. We eliminate the need for manual sales entry and totally simplify your royalty calculation.
Learn More About Quickbooks-compatible Franchise Software
We know you’ll love our franchise software. That’s because our team consists of both current and former franchise owners and franchisors who have already enjoyed great success with our solution. After years of proven success, time saved, and error-free reporting, we are utterly convinced that our finance module will make life better for your financial department!
In fact, we’re so confident that we’re offering a no-commitment, absolutely free demonstration of our franchise software in action.
To book your free virtual demonstration, call 888-302-3676 or visit the FranchiseSoft Website and fill out our quick and easy contact form. One of our representatives will get back to you within 24 hours.Back