By what date must a Ledgers franchisee submit their Annual Profit & Loss Statement and Balance Sheet?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Name of Report | When Due |
|---|---|
| Monthly Royalty Report | By the 10th day following the end of each month |
| Annual Budget | January 15 of each year. |
| Annual Profit & Loss | By May 31 of each year as to income and |
| Statement and Balance Sheet | expenses incurred in the prior year |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, franchisees are required to submit their Annual Profit & Loss Statement and Balance Sheet by May 31st of each year. This report must include income and expenses incurred during the previous year.
This requirement ensures that Ledgers can monitor the financial performance of its franchisees and maintain a consistent brand standard across all locations. Franchisees should be diligent in maintaining accurate financial records throughout the year to facilitate timely and accurate reporting.
Missing the May 31st deadline could potentially lead to penalties or other consequences as outlined in the franchise agreement. Therefore, prospective franchisees should understand the importance of adhering to this reporting schedule and plan accordingly to meet the deadline each year.