We understand restaurants. For more than 25 years we have worked almost exclusively within the restaurant industry. Our best known clients between them hold 14 Michelin stars. All of our clients, big or small, rely not just on our number crunching but on our sophisticated but easy to understand reports, which help them make informed decisions to improve their businesses.
Weekly Management Accounts
The weekly report is a powerful management tool. It provides an in depth analysis of trading during the week, together with invaluable statistical information e.g. covers, spend per head etc.
This provides information which is not normally available and which would certainly not be apparent from monthly accounts. It enables you to make quick, informed and effective decisions based on the information which is bang up to date.
Weekly reports are geared to assist every process of the restaurant, from the chef having control of kitchen costs to the manager being on top of all aspects of trading.
One of the most time consuming activities for a restaurant can be in tracking purchase invoices and ensuring that credit notes are received where appropriate. Nobody wants to overpay a supplier. We have a team dedicated to dealing with suppliers and in chasing up outstanding credit notes. We also make sure that payments are made through our BACS system when they are due.
Monthly Management Report and Accounts
Accounts are also prepared on a monthly basis to assist in the overall monitoring of sales and costs and longer term trends.
It is extremely difficult for anybody other than a specialist to keep up with changes in employment law. Having our professional team on your side can make all the difference! Our expert staff will manage your payroll and as we are a BACS bureau we can make payments on a weekly, fortnightly or monthly basis. We also take care of your PAYE returns.
Many restaurants have fallen foul of HMRC by not making sure that their tronc scheme is run in a way that can be demonstrated to be independent of the owner of the restaurant. We have recently introduced a service where Paperchase Accountancy takes on the role of a Troncmaster and ensures that all tronc documentation are properly prepared. This service has been designed to remove a major and potentially very expensive headache from the restaurant management.