Accounting for Restaurants & Bars

Establishing and running a restaurant, bar or café is challenging. Apart from the usual small business compliance issues of GST, BAS, PAYG and superannuation you have to contend with heavy regulation including liquor licensing laws, food handling regulations and council permits. The hospitality industry is also characterised by irregular trading hours, erratic and seasonal trade, casual employees and a combination of dry and wet goods.

Thinking of Starting a Restaurant, Café or Bar?

We are a business start-up specialist and if you are looking to open a restaurant, coffee shop, café or bar there are numerous issues to consider. Over the years we have helped clients with every aspect of starting their business including site selection, business structure, tax registrations, insurances, their retail lease and accounting software selection. In addition, we can assist you with preparing a business plan, payroll and HR issues plus finance applications for a shop fit out, car, van or equipment purchase. On an operational level, we understand what is required for a successful opening and we can even assist you in executing the successful launch of your restaurant, bar, café, bistro, theatre restaurant or coffee shop.

We have developed a range of spreadsheets and tools including a comprehensive start up expense checklist to help you identify every possible start up cost. This checklist is broken down into categories including leasehold improvements, IT, marketing, capital equipment, furniture & fittings, professional services, licenses and permits, initial stock and working capital. These figures then automatically feed into an integrated cash flow budget to help you identify your finance requirements and they can also tuck into your business plan.

Menu pricing is absolutely vital to the success of your café, restaurant, bar or coffee shop. We can help you do some price modelling so you know your break even point and how to maintain your profit margins when suppliers increase their prices. If you run a restaurant, café or fast food outlet in Melbourne we can help you compare your business performance against industry benchmarks so you know what is working in your business and what needs working on.

We do so much more than just tax and view the tax return as the start of the client process, not the end. We are ‘business and profit builders’ who provide strategies and solutions for business owners. We offer our restaurant and hospitality clients a range of tailored financial, tax, accounting and financial planning solutions including:

Start-Up Business Advice for Restaurants, Cafes, Bars and Bistros
Advice regarding the Purchase or Sale of your Restaurant, Café or Bar
Spreadsheets like the Start Up Expense Checklist & Price Calculator
Advice and Establishment of Your Business Structure
Business Registrations including ABN, TFN, GST, WorkCover etc.
Business Plans, Cash Flow Forecasts & Profit Projections
Accounting/Point Of Sale Software Selection and Training
Site Location and Advice Regarding your Retail Tenancy Lease
Preparation of Finance Applications & Bank Submissions
Preparation and Analysis of Financial Statements
Bookkeeping and Payroll Services
Costing of Menu and Bar Items
Tax Planning Strategies
Industry Benchmarking and KPI Management
Marketing Audit including an evaluation of your branding, website, brochure and menu layout plus diner trends and customer satisfaction questionnaires
Advice regarding Website Development, Content and SEO
Personal Financial Planning & Wealth Creation Strategies
Business & Risk Insurances
Vehicle, Equipment and Shop Fit Out Finance
Monitoring and Controlling Labour costs
Recession and Survival Strategies
Business Succession Planning