Oh boy! We now have the second coming of the Polar Vortex! Tennessee encased in ice and snow! Yikes!! I know franchises have been slammed. Bad time of year for this to happen. Ha! Especially when I need information from franchises. I have completed most of the franchise FFA’s for this “season”. I did notice a few commonalities among them. A good number of franchises have implemented the “new” (Dec 2013) Servpro chart of accounts. If you have not, please be sure to add the new accounts and items very soon-ok, when it warms up and stops snowing in June! If you have QuickBooks do your payroll, be sure to point the payroll items to the correct salary accounts. There were 3 or 4 added that will affect most franchises. If you have any questions on this you can always call the office. I will be glad to walk you through changing the accounts.
The Training and Development category has been changed to Human Resources. If you are using the old chart and have expenses allocated to Training and Development in 2015, make sure to change the account on these expenses to reflect the HR category. You can edit the transaction in QuickBooks.
Also, the chart has referral fee expense account in two places. Please use the Referral Fees Paid account under the Sales and Marketing category. There is a referral fee account under Other Expenses that was discontinued several years ago(pre-2009) but many franchises have left it on their account list. Make it inactive, please!!
Okay-back to your uploads! Time’s awastin!!