Hotels & Restaurant

Hotels & Restaurants

Bring Your Hospitality Business into the Digital Age. Partner with AccounTax Bookkeepers (AXB), a top accounting and bookkeeping firm, to seamlessly integrate technology into your hospitality operations.

Improved Cash Flow Management

Getting the numbers right and on time helps us see better how much money we have and how well it's working.

Reduced Risk of Fraud

Outsourcing accounting tasks to a reliable firm known for its robust internal controls is a smart strategy to minimize the chances of fraud.

Improved Financial Analysis

Give useful financials advice and help hotels and restaurants understand better how they're performing.

Hotel Accounting Services - Restaurant Accounting Services - AccounTaxBookkeepers

In today’s tough competition, the restaurant and hospitality industry always tries to improve business and save money while keeping quality and customer happiness high. However, restaurant or franchise owners often don’t have time to handle staff, pay vendors on time, deal with daily tasks, and, most importantly, handle accurate hotel and restaurant accounting.

AccounTax Bookkeepers provides restaurant and hotel owners with affordable accounting services tailored for restaurants and hotels.

AccounTaxBookkeepers distinguishes between standard restaurant and hotel bookkeeping services by delivering comprehensive accounting solutions.

AccounTax Bookkeepers distinguishes between standard restaurant and hotel bookkeeping services by thoroughly analyzing business fundamentals and delivering comprehensive accounting solutions. With a specialization in franchise-operated hotels owned by single proprietors, we offer the most economical solutions.

Looking ahead, integrating a robust hotel and restaurant bookkeeping system with other operational aspects is crucial for the company’s growth. This system should effectively manage costs, minimize capital expenses, and elevate client service standards.

AccounTax Bookkeepers is adept at enhancing internal controls and operational efficiency through its cost-efficient hotel and restaurant accounting and financial services.

Our Hotel Accounting Services & Restaurant Accounting Services

Establishing various charts of accounts in line with industry standards for the hospitality sector.
Logging sales or revenue based on reports generated by your PMS/POS system.
Recording customer receipts accurately.
Verification and recording of invoices received from vendors.
Timely payment processing for vendors.
Managing employee payroll and ensuring payroll files are updated.
Handling other tax-related reporting requirements.
Recording depreciation and making necessary adjusting entries.
Inputting bank transactions accurately.
Calculating franchise fees, if applicable, according to standard franchise norms.
Providing detailed analysis of occupancy ratios, revenue per room, and departmental margin ratios after allocating overheads.
Executing month-end or year-end closing entries to ensure accurate financial reporting.

Scanning and saving invoices.
Processing and approving invoices.
Dividing up expenses.
Approving online payments.
Paying bills.
Dealing with questions from vendors.

Documenting customer payments accurately.
Reconciling revenue monthly or quarterly with PMS/POS system, identifying any variances.
Reconciling merchant deposits based on merchant statements, conducting monthly collection reconciliations, and identifying discrepancies in deposits.
Managing customer aging and collections efficiently.
Conducting cash forecasting and preparing related reports.

Balance sheet.
Income statement.
Trial Balance.
Cash flow statement.
Bank reconciliation report.
Detailed general ledger report.
Fixed asset account managements.
Profitability analysis for different recreational centers.
Room wise revenue analysis.
Seasonal Analysis.

Matching your bank book with your bank statement
Checking your credit card records against your statements
Putting checks in order
Making sure your balance sheet matches up

Setting up payroll.
Figuring out how much to pay and putting it straight into employees' accounts.
Calculating taxes for payroll and filling out forms.
941, 1099, 940, 944, and quarterly state tax returns.
Checking payroll matches up with tax returns every three months.

Who We Serve

Let's Talk About Your Service Needs

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