Busy venues need more than busy sales.
Accounting for Hospitality, Cafes & Food Businesses
Hospitality can generate strong daily sales while still operating on very thin margins. The accounting needs to show what is happening behind the till.
Why it matters
Why Hospitality, Cafes & Food Businesses Need the Right Accounting Support
Running a hospitality business is demanding. Sales happen every day, staff rosters change, suppliers need to be paid, food prices fluctuate and customer demand can shift by season, day of the week or even time of day.
A busy venue is not necessarily a profitable venue. Small increases in food, beverage, wages, delivery platform fees or wastage can quickly reduce margins. Equipment and fit-outs can also require substantial capital investment.
The pressures
What Your Business Must Manage
Tight Gross Margins
Ingredient and supplier price movements can quickly affect food and beverage margins. Regular reporting helps identify changes earlier.
Daily Takings
Cash, EFTPOS, online ordering and delivery platforms need to reconcile back to the accounting records.
Stock & Wastage
Food and beverage purchases, stock movement and wastage influence gross profit and should be monitored alongside sales.
Payroll
Hospitality businesses can have large casual and part-time workforces. Payroll, STP, superannuation and leave records need reliable systems.
Equipment & Fit-Outs
Coffee machines, ovens, refrigerators, furniture, POS equipment and fit-outs can involve significant capital expenditure.
Seasonal Cash Flow
Busy and quiet periods need to be anticipated so wages, suppliers, BAS and other commitments can still be met.
Who we work with
Businesses & Professionals We Can Assist
- Cafes and coffee shops
- Restaurants
- Takeaway businesses
- Bakeries
- Catering businesses
- Pubs and bars
- Clubs
- Event and function businesses
- Other food service operators
What we do
Five Core Service Areas
The same five services, tailored to the way this industry operates.
Tax Services
Business tax returns, eligible deductions, depreciation and fit-out treatment, PAYG planning, year-end tax planning and tax support for cafes, restaurants and food businesses.
Bookkeeping
Daily sales and bank reconciliation, EFTPOS and delivery-platform settlements, supplier invoices, food and beverage purchases, payroll records, accounts payable and Xero bookkeeping.
BAS & GST
BAS preparation and lodgment, GST coding and reconciliation across sales and purchases, PAYG instalments and careful recording of hospitality transactions.
Financial Accounting
Reporting on sales, gross profit, food and beverage costs, wage costs, merchant charges, overheads, cash flow and operating profit.
Business Advisory
Budgets, cash flow forecasting, menu and margin discussions, cost-control reviews, pricing considerations, equipment purchases and financial planning for a new or expanding venue.
Why choose us
Why Choose SmartBridge Accounting?
- Industry-focused approach to daily sales and tight margins
- Bookkeeping, payroll, BAS and tax support
- Cloud accounting and payment-platform reconciliation
- Practical reporting on food, wages and profitability
- Cash flow and budgeting support
- Friendly, jargon-free communication
Ready when you are
Understand the numbers behind every sale.
Book a FREE initial consultation with SmartBridge Accounting.