What accounting software is used with 360 Painting's Accounting and Business Advisory Services?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
You must use our in-house Accounting and Business Advisory Services for your Business and pay our related fees for at least the first 12 calendar months following the opening of the Business. See Item 6. The service offering includes prelaunch accounting setup and ongoing monthly accounting and business advisory support. Pre-opening Accounting and Business Advisory Services includes assistance creating the chart of accounts and recording prelaunch expenses in the Quickbooks Online account you set up. Ongoing Accounting and Business Advisory Services include recording of revenue and expense transactions into the Quickbooks Online account, monthly bank account reconciliations, financial statement preparation and participation in periodic coaching sessions. After your Business has been open for at least 12 months, you may opt out of our Accounting and Business Advisory Services so long as you contract with an approved third-party vendor to provide similar accounting and business advisory services to the Business during the remainder of the initial term of your Franchise Agreement.
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING (FDD pages 27–38)
What This Means (2025 FDD)
According to the 2025 FDD, 360 Painting franchisees must use the in-house Accounting and Business Advisory Services and pay the related fees for the first 12 months after opening their business. As part of the pre-opening services, 360 Painting assists in creating a chart of accounts and recording prelaunch expenses in a Quickbooks Online account that the franchisee sets up.
During the ongoing Accounting and Business Advisory Services, revenue and expense transactions are recorded into the Quickbooks Online account. 360 Painting also provides monthly bank account reconciliations, financial statement preparation, and periodic coaching sessions.
After the initial 12 months, franchisees have the option to opt out of 360 Painting's Accounting and Business Advisory Services. However, they must then contract with an approved third-party vendor to provide similar accounting and business advisory services for the remainder of the Franchise Agreement term. This ensures that all franchisees maintain a consistent level of financial oversight, whether through 360 Painting's in-house services or an approved external provider.