By what day of the month must a Best Brains franchisee submit their gross sales report?

• 1. Reports. You shall furnish to us the following reports among others:
  • (i) On the 10th of each month, an electronic or other report (as we designate) of the Gross Sales of the Franchised Business for the period of the 11th of the previous month to the 10th of the current month;
  • (ii) On the 10th of each month, a copy of your bank statement for the previous month
  • (iii) On the 10th of each month, a copy of your payment report from your payment processing service (currently CSG Forte) for the period of the 11th of the previous month to the 10th of the current month
  • (iv) On the 10th of each month, a profit and loss statement for the preceding calendar month and a year-to-date profit and loss statement and balance sheet; and
  • (v) within seventy-five days after the end of each calendar year, a calendar year end balance sheet and an annual profit and loss statement for the calendar year reflecting all year end adjustments.

You must verify and sign all reports submitted to us.

1. Failure to Send Reports. If you fail to report your Gross Sales on a timely basis, we may estimate your Gross Sales; and then deposit any unpaid Royalty Fee, advertising contribution or other amount due by use of the electronic funds transfer system.

Source: Item 23 — RECEIPTS (FDD pages 42–190)