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Accounting Procedures
ACCOUNTING PROCEDURES
The franchiser, [Name of the franchiser], and the franchisee, [Name of the franchisee], as set forth in their franchise agreement on [Date of the agreement] and as witnessed by [Name of the witness], have agreed to the following additional terms and conditions:
Franchise agrees to keep daily record of business and forward to franchiser on a weekly basis those transactions. On of each following week the franchiser will receive a weekly culmination of business activity.
Upon inspection with reasonable notification, the franchisee will disclose any all accounting information of business activity. Such inspection will be performed by authorized representative of franchiser and will take at a time that will not hinder normal business operation.
After the close of franchisees fiscal year and within [days or weeks after official closing] after official closing, the franchisee will provide a complete statement of earnings for that fiscal year. Such statement will include profit and loss, any expenses of operation and follow procedures set forth in supplied manual. This statement will be certified by proper authority to be correct and accurate information.
Franchiser Dated
Franchisee Dated
Witness Dated
Witness Dated