Do you own a themed restaurant, or have you been working at a Michelin-star restaurant? Do you own or work in a pub, bistro or coffee center? If your answer to any of these questions is a ‘yes,’ then you cannot ignore the importance of restaurant accountants. It’s true that you can easily deal keep account and bill details of your restaurants, but you certainly need a professional to ensure that all records are kept in place, taxes are reduced and any financial issues are avoided. Ideally, an accountant would serve as a trusted adviser to his/her restaurant client, guiding them on accounting issues and providing them indelible insight into the trends prevalent in the market. Overall, accountants can help a restaurant deal with opportunities and challenges.
Restaurant Accountants are tax specialists as well as excellent managers
But hiring an accountant who specializes in restaurants and hospital industry can be difficult. You need to find someone who can prepare financial statements, draw statutory accounts, conduct audits and work on outsourced accountancy services, such as bookkeeping and budgeting as well. Whether you plan to expand or need to maintain a consistency in your records, you need a restaurant accountant who has comprehensive knowledge about taxes and VAT, who can provide customized advice for expansion, restricting, recovery or valuations and help you avoid debt. This is how you can hire an accountant for your restaurant or hospitality business.
Firstly, start off by searching the internet. Most of the accountants are skilled in advanced computing systems, have their own websites that discusses their products and services. You can search for these individuals and accountant companies and see whether they offer skilled accountants for restaurants and hospitality industry.
The next step is to check their credibility. Most of the accountant companies offer incredible insight into the knowledge and expertise of their accountants, focusing upon their qualification, their previous and current clients. Make sure that you check testimonials or request the company to provide you with a list. Check the range of services that you may require. For instance, if you need a restaurant accountant who can review your finances and offer advices on internal controls, make sure that you ask for it. Question potential accountants about their business advisory and if they can also provide you restructuring and recovery services, if required.
A lot of them also offer free initial consultation services. You can request for an initial consultation and judge yourself whether the accountant should be chosen or not. Make sure that you take services from a company that offers confidential advice to its clients.
Don’t take the stress of keeping accounts of your restaurant. Give this responsibility to an accountant who has expertise in the field and offers you great value for your company.
Try these simple steps to outsource your accounting requirements and add real value to your restaurant business.
AllenBy Accountants is providing medical, business and other accounting services in London.