Restaurant Accountant Services
Running a successful restaurant requires not just making good food or having a welcoming interior but also managing and controlling costs. Having accountants in your corner who understand the restaurant business is invaluable.
The restaurant sector has a unique set of variables not found together in any other business area.
* Managing Cash Sales (extra time required counting, securing and lodging)
* Stock Control issues (wastage, portion control, theft)
* Skill requirements (you need people who know how to produce your menu)
* Labour Costs (it’s a labour-intensive business)
* Legislation (VAT, Food Safety, Health and Safety, the Working Time Directive)
* Variable demand (predicting demand is difficult)
* Production control (will the chef work to your recipes, and costings)
* Competition (competition is everywhere not least because it’s easy to start a food outlet)
Standard Accountancy systems are not built for the restaurant business, and can’t accommodate the specific challenges of this sector.
At Hospitality Accounting Solutions, we understand the restaurant business, we understand the difficulty you may have in contending with the competing nature of these business variables and we can build you a control system that will allow you to manage these challenges.
Monthly management reports will highlight any variances against your business plan on a timely basis then variance analysis will offer suggestions for corrective action.