[New] Royalty and Fee Calculation and Reporting on Square for Franchises

[jean_sq]

Hello Franchisors!

You can now calculate fees such as royalties, marketing expenditure, and more to help give you a better understanding of your business’ revenue streams. You can set custom fees under a percentage or fixed rate with the included predetermined formulas.

After creating your fees, you’ll also be able to use our royalty and fee reporting to show an overview of your royalties, royalty fees, and a royalties summary. You can filter this report by Date, Location, Location Groups, or Time zone. 

You can also click Export to export a copy of your report for your records. Your report updates in real time based on the date range and other filters you select. If you filter your report to a time before you had sales or fees configured, your report will show $0 during that time period.

To get started, you must create a royalty fee first. You can set up a royalty fee from your Square for Franchises dashboard by: 

Navigate to Reports > Royalties & Fees. 

Click Create royalty fee. If you have previously created fees, click Add rate.

Once a fee has been created, you can edit it at any time by clicking on the fee to open the “Update fee” screen. Click Save once all edits are completed.

You can view your royalty report at any from your Square for franchises dashboard by navigating to Reports > Royalties.

Have questions? Feel free to ask in the comments section.