What section of the Budget manual covers Purchasing and Accounts Payable?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
During the term of this Agreement, Budget will grant Licensee access to the Manual. For purposes of this Agreement, "Manual" means manuals or policies and procedures, Standards, specifications and requirements relating to the Rental Business, as Budget specifies. The Manual may be revised,
changed, modified or supplemented by Budget at any time. Modifications in the Manual will become effective thirty (30) days after written notice thereof to Licensee, unless a longer period is specified in such written notice. The Manual also includes training manuals, development manuals and other business manuals as may be prepared for use by Budget licensees. The Manual may be in printed and/or electronic format and may include audiotapes, videotapes, information available on an Internet site or other electronic media. It may also consist of several component parts and materials Budget may issue, including bulletins, handbooks, newsletters, computer-based and computer-transmitted information. The Manual is confidential and will remain Budget's exclusive property and may not be duplicated, shared or re-distributed. The Manual will be an integral part of this Agreement and references made in this Agreement or in any amendments, exhibits or schedules hereto to the Manual will be deemed to mean the Manual as current. In the event of a dispute relative to the contents of the Manual, the master copies maintained by Budget at its principal office will be controlling.
INSTRUCTION AND OPERATING ASSISTANCE
Source: Item 23 — RECEIPTS (FDD pages 80–426)
What This Means (2025 FDD)
Based on the 2025 Budget Franchise Disclosure Document, the specific section of the Budget manual that covers Purchasing and Accounts Payable is not explicitly detailed in the provided excerpts. However, the FDD does reference the "Manual" which contains policies, procedures, standards, specifications, and requirements relating to the Rental Business, as Budget specifies. The manual may be revised, changed, modified, or supplemented by Budget at any time.
Item 9.7, "Standard Chart of Accounts" indicates that licensees will establish a bookkeeping and financial reporting system using Budget's standard chart of accounts as prescribed in the Standards. Licensees are also required to retain all bookkeeping and accounting records and financial statements for at least five years. Furthermore, franchisees must submit monthly reports, including the "Monthly System Fee Report", and annual financial statements conforming to Budget's standard chart of accounts.
To gain a comprehensive understanding of the policies and procedures related to Purchasing and Accounts Payable, prospective Budget franchisees should directly inquire with the franchisor about the specific sections within the Budget "Manual" that address these topics. Understanding these specific guidelines is crucial for maintaining compliance and effectively managing the financial aspects of the franchise.