Accounting for the Restaurant and Bar Industry
We understand what goes into running a successful restaurant. In order to keep you focused on running your business, we focus on the accounting issues, forms and notices that may come your way. We know there are many unique accounting issues in the food service business. We stay up to date on ways to handle these situations to save you time and increase your bottom line.
We work with owners and managers of restaurant groups, neighborhood cafes, food trucks, pubs, bars, hotels. Our clients are passionate about their businesses and rely upon us to provide them with restaurant bookkeeping services and training.
I have been offering accounting, consultant and financial planning services to clientele for 30 years. Our clients are able to select the level of support which is appropriate for their needs and budgets.
Restaurant Statistics - The statistics for maintaining a successful restaurant are not in favor of the industry, as we witness 27% of restaurants failing in their first year, 50% failing in year number five and 70% out of business by the ten year mark. We strive for absolute excellence and want your restaurant to succeed in the long run!
So, what are some typical barriers for a restaurant to succeed? Here are just a few of many examples:
- Sales Tax Audits- how to protect yourself from a New York State Sales Tax Audit?
- IRS Intervention- how to avoid a tax audit and adhere to tax laws?
- Department of Labor- are you compliant with mandates and laws?
- Tipped Employees- how to track unpredictable figures and payroll costs?
- Are you taking advantage of the FICA tip credit?
- Are you correctly reporting tips to the IRS?
- Reliable Software for Efficient Bookkeeping- how to utilize QuickBooks effectively in your restaurant?
- Employee Turnover- how to minimize?
We can assist you with all of these questions and more. I have saved clients up to $200,000 in one year. Let’s just demonstrate a few high level issues that we regularly addresses:
Increase your bottom line and profits, while saving money, Call (256) 270-7248
See Blog Click Here "Unlike Fine Wine, Numbers do not Improve with Age"