FRSCPA Has Partnered With Kelly+Partners Accountants

Accounting For Franchises

FRS provides timely and accurate p & l’s to its operators for a competitive monthly per store fee. Our monthly services include recording of financial transactions and accruals into General Ledger, bank reconciliations and electronic transmission of your p & l’s to McDonald’s Corporation. For more information please contact our home office at 800-457-1120.

Ratios

FRS provides the NFS ratios to our monthly clients upon request for a nominal fee. FRS knows the importance of these ratios and what they can mean relative to your cash flow and debt positions. Our staff will assist in helping you reach your goals by analyzing your company’s position and make the appropriate recommendations. Please contact your Team Captain at FRS for additional information.

Restaurant Valuations
Maybe you want to sell a store or want to gift stock to your son or daughter. Perhaps you need estate planning, or are in the midst of buy/sell negotiations. In order to determine the value of your stores, your CPA will provide you with a valuation of your restaurant(s). Our experienced partners can assist you with these necessary tools that can help determine the worth of your business. For more information, please contact our home office for assistance.

Cash Flow Projections

Often times, operators are presented with the option of new stores or rebuilds opportunities. As such, pro formas are needed. FRS has experienced staff members who can provide you with assistance. We will go over the pro formas with you and guide you in your decision making process.

Tax Planning

FRS places a high emphasis on tax planning for your benefit. Our goal is to minimize your taxes by taking a proactive approach. Each year, your Team Captain and their team work on tax projections for you to determine where you will stand by year-end and to make sure you are penalty proofed. We will determine if you need to pay additional tax to Federal and State taxing authorities prior to 12/31 in an effort to minimize your April 15th tax bill. Our close, personal attention to your business and tax situation is something we take very seriously.

Employee Benefit Plan Audits

Employee benefit plans are categorized by the Department of Labor as small or large. The number of eligible participants as of the first day of the plan year is the determining factor as to whether a plan is considered to be a large plan. This factor is reassessed every year as of the beginning of the plan year.

A special ERISA rule exists that referred to as the 80-120 Rule. Stated simply, plans with up to 120 eligible participants as of the beginning of the plan year that were classified as a small plan in the prior year may continue to file as a small plan. Once the plan exceeds 120 eligible participants as of the beginning of the plan year, the plan classified as a large plan and an audit is required. In addition, in the plan’s year of formation, the 80-120 rule cannot be applied and an audit is required if the number of eligible participants at the origination of the plan exceeds 100, then an audit is required.