What form must Aplus franchisees use to submit their quarterly gross sales to Sunoco?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
On or before the last calendar day of January, April, July, and October, respectively, of each year the Lease is in effect, you shall deliver to Sunoco a statement certified as correct by you and prepared in accordance with accepted retail merchandising accounting practices showing the amount of Gross Sales during the calendar quarter immediately preceding the month in which such statement is due.
All such statements shall be submitted on Sunoco's form entitled "Quarterly Gross Sales Verification Statement" and shall be acknowledged by your accountant at the place indicated thereon.
Source: Item 23 — RECEIPT (FDD pages 68–302)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, franchisees are required to submit their quarterly gross sales to Sunoco using a specific form. The "Quarterly Gross Sales Verification Statement" is the designated form for this purpose, and it must be certified as correct by the franchisee and acknowledged by their accountant.
This form must be delivered to Sunoco on or before the last calendar day of January, April, July, and October each year the lease is in effect. The statement should accurately reflect the gross sales during the calendar quarter immediately preceding the month in which the statement is due.
Maintaining accurate records of gross sales is crucial for Aplus franchisees, as these figures are used to calculate royalty fees and other financial obligations to Sunoco. The requirement for accountant acknowledgment adds an extra layer of verification to ensure the accuracy of the reported sales figures. Franchisees should ensure they adhere to these reporting deadlines and maintain meticulous records to avoid any discrepancies or issues with Sunoco.