Important dates - Jim's Group Billing Cycle
- Gabriella (Unlicensed)
Owned by Gabriella (Unlicensed)
| Date | Activity | Description |
|---|---|---|
| 1st | FSE billing | National bills your FSEs - this is the Bill4U service we provides for $7.09/FSE |
| 1st | FSO Admin billing | National bills RFSOs for call centre fee |
| 5th | FSO billing | National bills RFSOs for monthly fixed fee and sale commission (if applicable) |
| 8th | FSE statement | National sends out FSE statement |
| 10th | FSE DD | National processes direct debit FSEs. If direct debit rejected, finance will notify both FSEs & RFSOs |
| 15th | B4U Refund | National processes credit to RFSO for FSE fees collected up to 14th and applied it against your oustanding invoices for the month. Any credit left over will be refunded back to your bank account. Should your oustanding invoices outweigh the credit received, we'll simply DD your account on the 25th. Any fees collected after the cut off date will be included in next B4U cycle (this is for a clean cut off time), if the FSE's making late payment they can pay directly to your account* Working FSO can request exemption from the Bill4U service |
| 16th | B4U Info | National sends out B4U info, this includes: credit note showing the list of FSE payments, FSE aging debt report, RFSO statement showing recent account transactions and balance |
| 20th | FSO statement | National sends out FSO statement up to end of month |
| 25th | FSO DD | National processes the direct debit FSOs (if there's any balance payable after the 15th). If direct debit rejected, finance will notify FSOs |
| 27th | Non-compliance marking | National marks non-compliance for payment not received by the due date (this non-compliance penalty will reflect on your up coming invoice) |
| 30th | FSO breach notice | National will send out Breach Notice should you failed to arrange payment after you receive the non-compliance notification. Once you are breached, you'll have 14 days to remedy the breach before resulting in termination of your agreement. |
Notes:
- FSOs are to follow up the relevant FSEs for outstanding invoices to endeavour all outstanding amounts are paid in full.
- Finance would suggest for Franchisor to mark their franchisee's non-compliant for fees not received as soon as you receive the B4U Information from Finance. You can do this by logging into FMS & mark the relevant FSEs.
- Franchisor could requests the documents team to prepare breach/termination documents for FSE's who have been non-compliant on several occasion for a fee - check with Document; or prepare the notice yourself if you wish to. The templates are available for you to download on Franchisor website.
*FSOs are to notify Finance of any direct payments made by the FSE for their monthly fees, so we can close off the invoice in our book as well