Does Card My Yard require receipts to be dated?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
You must maintain during the term of this Agreement, in accordance with generally accepted accounting principles and in the form and manner we prescribe from time to time in the Manuals, full, complete and accurate books, records and accounts of the Card My Yard business, including, but not limited to, sales slips, coupons, purchase orders, payroll records, check stubs, bank statements, sales tax records and returns, cash receipts and disbursements, journals and ledgers. You agree to preserve such books and records for at least five (5) years from the date of preparation.
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, franchisees must maintain accurate books and records. These records include sales slips, coupons, purchase orders, payroll records, check stubs, bank statements, sales tax records and returns, cash receipts and disbursements, journals, and ledgers. These records must be maintained according to generally accepted accounting principles and in the format that Card My Yard prescribes in its manuals.
While the FDD excerpt specifies the types of records franchisees must keep, it does not explicitly state that receipts need to be dated. However, maintaining "full, complete and accurate" records implies that receipts should include all relevant information, including the date, to ensure accuracy and proper accounting.
Prospective Card My Yard franchisees should clarify with the franchisor the specific requirements for receipt keeping, including whether dating receipts is mandatory. This will ensure compliance with Card My Yard's record-keeping standards and avoid potential issues during audits or reporting.