Interested in Hospitality Accounting and Starting out? Read on!
Thought we would discuss some interesting some of the issues and opportunities facing new start-ups with this example looking at Cafes and Restaurants New Zealand. You may be interested in hospitality accounting and whats involved in getting your startup off the ground. things. At moonlight, we are currently assisting some entrepreneurs setup a restaurant in Takapuna. Like many start ups, there were many things for them to look into while establishing their business.
- company formation,
- evaluating locations and lease agreements,
- setting up a business plan to obtain funding and prove feasibility of concept
…and then also through to the setup phase of :
- Fitting out the premises.
- Obtaining relevant consents and approvals
- Negotiating with suppliers
- Hiring employees
- Setting up a point of sale system that was simple, scalable, cost effective and suited their business requirements.
..once the business is operating:
- Monthly Accounting and Bookkeeping
- Annual Reports
- Income Tax Returns
Doing this on your own without the assistance of professional third parties can be time consuming and costly in the long run. Its vital that during the setup process you establish the right systems and structures to operate your business successfully from the get go. These clients partnered with us to guide them through various aspects of getting their business off the ground ( a bit more than just hospitality accounting here.) and realising their dreams. We were able to work with their chosen point of sale partner to develop a cost effective solution that integrated Xero Accounting Software and add-on Vend to form a complete point of sale solution. This configuration gave the business owners flexibility as well as visibility of their sales and costs.
Being able to offer all this advice at the start up stage whilst splitting the costs across easy fixed monthly installments we were able to assist our clients manage their cash flow and still be there with them every step of the way. There’s no point having an accountant that you never see. At moonlight we take an interest in your business and will work with you to get it off the ground. So if you’re looking at doing hospitality accounting, come see us at Moonlight because we will be a regular patron at your business, not just someone who you see once a year when you have to.
So why worry about hospitality accounting and compliance when you can focus on making the strategic decisions that add value, outsourcing these headaches to a qualified accountant makes sense
So don’t delay, contact us today and lets work on building your dream