What software must a Cool Binz franchisee use to report Gross Sales?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
ve not already done so by the effective date of termination.
D. DEFINITION OF GROSS SALES.
You must report your Gross Sales each month. "Gross Sales," as used in this Agreement, includes all revenue generated from operating the COOL BINZ Business, whether in cash, in services in kind, from barter and/or exchange, or otherwise. All barter and/or exchange transactions for which you furnish Services and/or products in exchange for goods or services will, for the purpose of determining Gross Sales, be valued at the full retail value of the goods and/or services you provide. You may deduct from Gross Sales the amount of all sales tax receipts or similar tax receipts that, by law, are chargeable to customers, if these taxes are separately stated when the Customer is charged. In accordance with our policies as published periodically, you may also deduct from Gross Sales the amount of any documented refunds that we consider appropriate. You must pay Royalties only on the receipt of the cash, services in kind, barter and/or other exchange. All payments received for jobs must be recorded in the COOL BINZ Software or other software program within the Required Software that we designate within 48 hours of being received.
E. LATE REPORT FEE, LATE PAYMENT SERVICE FEE AND INTEREST.
If the Royalty or any other fee that is due is not available in your account for debiting when due, a late payment fee will be imposed of $50, whichever sum is greater, for each day past due ("Late Payment Fee").
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, franchisees must use the COOL BINZ Software or other Required Software designated by the franchisor to report Gross Sales. All payments received for jobs must be recorded in the COOL BINZ Software or other software program within the Required Software that Cool Binz designates within 48 hours of being received. Franchisees are also required to use QuickBooks Online, which is the designated accounting software, but this is subject to change.
Cool Binz has confidential access to the franchisee's databases and related information from the COOL BINZ Software, which they use to compute the Royalty due on Gross Sales, and to make other evaluations and verifications. Franchisees must also establish and maintain, at their expense, an accounting system that conforms to the requirements and formats that Cool Binz prescribes from time to time.
It is important to note that Cool Binz can require franchisees to purchase or lease and maintain the Computer System, COOL BINZ Software, and the Required Software. Franchisees are responsible for paying all fees associated with the use of COOL BINZ Software and any other Required Software, which may be payable to Cool Binz or their approved or designated suppliers. Cool Binz also reserves the right to create additional proprietary software programs (to be included as part of the Required Software), which franchisees must use in connection with their COOL BINZ Business.