What is an 'Accounting Period' as it relates to product purchases for my Beggars Pizza franchise?
Beggars_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
At the start of each Accounting Period (as defined below), Supplier will provide Franchisee with an invoice (the "Invoice") containing all current amounts due for all Products purchased during the prior Accounting Period. "Accounting Period" means every seven (7) days beginning on Monday and ending on Sunday.
Each Monday Franchisee must pay to Supplier all amounts due to Supplier for the previous Monday through Sunday (i.e., the previous Accounting Period) via electronic funds transfer ("EFT") as set forth in Section 3(d) below.
Supplier hereby expressly reserves the right to designate such other period (which may include a shorter period) as the Accounting Period that Supplier or Beggars may specify in the Manual or in writing from time to time.
Franchisee must pay for all Product sales within seven (7) days of receipt of each Invoice, which time period may be reduced in Supplier's sole discretion upon written notice to Franchisee.
Source: Item 23 — RECEIPT (FDD pages 39–192)
What This Means (2025 FDD)
According to the 2025 Beggars Pizza Franchise Disclosure Document, the Accounting Period dictates the timeframe for invoicing and payments related to product purchases from the designated supplier. The standard Accounting Period is defined as every seven days, beginning on Monday and ending on Sunday.
Each week, Beggars Pizza franchisees will receive an invoice detailing the amounts due for all products purchased during the previous Accounting Period (Monday through Sunday). Franchisees are then required to pay the supplier all amounts due for that period via electronic funds transfer (EFT) each Monday. This system ensures that the supplier is paid promptly for the products delivered to the franchise location.
However, the FDD stipulates that the supplier retains the right to modify the Accounting Period. This means that Beggars Pizza or the supplier could specify a different period, potentially a shorter one, in the manual or through written notice. If the Accounting Period is shortened, franchisees would need to adjust their payment schedules accordingly. Franchisees must pay for all product sales within seven days of receipt of each invoice, but this period may be reduced at the supplier's discretion with written notice.