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Get Your Financial House In Order And Enjoy Financial Freedom With Our Accountants For Restaurants

Accounting for restaurants is something many restaurateurs try to avoid, but it is an essential part of running a successful business. It’s almost impossible to manage your restaurant properly without going into accounting details. You need to understand the basic principles that allow you to grow your profitability and run your restaurant sustainably.

Yes, we understand that you didn’t get into the restaurant business to become an accountant. Still, accounting brings alot of value and addition to your business. 

Restaurants make delicious food and serve great buffets to their clients. However, that wouldn’t make much sense if your finances went down the drain. Restaurant accounting brings deep insights into your business’s financial state and its market performance.

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But to successfully manage your restaurant accounting, you need to hire professional restaurant accountants like ours at Pearl Lemon Accounting to do the job for you. In addition to providing traditional tax services, we can consult on personal needs to help scale your concept.

At Pearl Lemon Accounting, we have years of combined experience and can deliver responsive services and insight on your business, tax and regulatory matters that are crucial to your success.

Our team is dedicated to seeing that you succeed. 

Book a call today to get started.

Our Services

  • General Bookkeeping
  • Financial reporting
  • Business modelling
  • Financial analysis
  • Taxes
  • Payroll
  • Auditing
  • Tip reporting
  • Sales Recording
  • Budgeting and forecasting
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What Your Restaurant Will Benefit From Accounting

Restaurant accounting will take your business closer to achieving its overall goals. Many benefits come with accounting for restaurants, including:

Improve tax reporting

Our team will help ensure that your auditing is done correctly to reduce tax exposure.

Manage your expenses

We will document your restaurant spending so that you can know how your money is being spent.

Adopt a better menu pricing

Setting up the right prices for your menu items is quite challenging. You must ensure that you cover all the necessary expenses, including costs, labour, operational costs and sales information. We can help you with all of that.

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Have better control of your cash flow

Cash flow is one of the major causes of business failure. Get professional insight into your cash inflows and outflows. Our experts will ensure that you have a sound accounting system to minimize liquidity issues.

Accurate information about your business

As your restaurant grows and thrives, you need professional accounting to keep up with the trends. Even when you consider DIY accounting, you might not have the required expertise to handle everything on your own. Reach out to us for your accounting solutions.

Professional insights

Get professional advice, experience, expertise and education with your restaurant’s accounting operations.

Time-saving

Let our experts focus on your finances while you get the time to focus on the core activities that will grow your business.

Check Account

Why Pearl Lemon Accountants

You have probably seen so many other accounting services, so why choose us?. Here are some reasons why we are the best fit for you:

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Experience and attention to detail

Our team is experienced in their specialized financial fields and has diverse experience in practice. They can cover various aspects of tax and business services. This coupled with our knowledge, attention to detail and know-how, you can be guaranteed to receive a rounded accounting service.

5-star service

When you work alongside our experienced specialists, you can be assured of a service second to none.

Friendly and approachable team

At Pearl Lemon, we believe that the best way to serve clients is to establish professional and personalized relationships with our clients. We strive to provide the best services possible and work hard to meet and exceed client expectations.

A modern approach to accounting

We use the latest technologies to drive business growth. We are constantly teaching ourselves and learning what’s new and strive to keep at the top of technological trends to provide efficient services to our clients.

Professional and affordable services

When you work with us, you get value for money. Whether you want a one-off assignment or an ongoing work relationship, we can deliver a bespoke accounting package at competitive prices.

Licenced accountants

Our accountants are qualified and can offer a full range of accountancy services.

Flexible and readily available

Our team is fully remote and is available to help you any time that you need our services.

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We Are The Right Partner For You

Whether you have a chain of restaurants or operating a food truck, the one thing that keeps your finances on track is financial health. However, you might not have the time to do it yourself or even the expertise to track every detail. 

Luckily for you, we are here to help. 

We have accountants that can cater to your industry needs regarding financial decisions, planning, and obligations.

Our experts can also manage more complicated accounting tasks such as payroll, fiscal auditing, etc.

We aim to give our clients peace of mind about their finances.

Hire PL Accountants today, so you don’t have to worry about financial matters.

Book a call today to get started.

FAQs

If you’re just getting started, you could be thinking about doing it yourself. Consider a few factors as you decide if this is the right course of action:

  1. How familiar are you with accounting software and procedures and your willingness to learn the basic financial abilities necessary to build up your accounting system and interpret your accounts consistently?
  2. How much money you have set aside to pay someone else to handle it, and 
  3. How much time can you devote to working on your finances weekly basis?

Evaluating how you can put your efforts to the greatest possible use is essential as an entrepreneur. Is it accounting, or may you better utilize your time in marketing, sales, product sourcing, service delivery, or supply chain management?

The task of recording financial transactions falls to bookkeepers. The financial data is, on the other hand, interpreted, categorized, analyzed, reported, and summarized by accountants. The main distinction between restaurant bookkeeping and restaurant accounting services is this. While bookkeeping simply focuses on recording, accounting entails interpreting and analyzing data.

Restaurant accountants keep track of cash flow, inventory, and income statements. They keep track of all restaurant’s financial dealings. An accounting record is used to record each transaction, such as the purchase of a meal. The payments are then recorded so that they may be analyzed for accounting purposes.

An accountant’s job encompasses all aspects of a restaurant’s financial operations. To ensure there isn’t too much or too little inventory, they can count it weekly. Similarly, they must prepare an income statement to indicate the restaurant’s profits and losses over a specified period. It is sometimes referred to as the P&L statement. To make sure the restaurant is making money and reducing costs when necessary, it is also crucial to track total sales and expenses weekly.

The type of job, restaurant size, and location are typically cost determinants. Also, hiring an accountant instead of a bookkeeper will cost you extra money. This is so because an accountant has more education and practical experience than a bookkeeper has.

The most effective restaurant accounting software is cloud-based or online) because they have specialist modules designed especially for restaurant accounting. 

When you allow us to keep track of your finances, you give yourself more time to do your work and please more clients. It's a win-win situation for everyone. Aside from that, you'll also gain financial stability because your assets and liabilities are managed well enough not to cause any trouble for you in the future.

So let our experts work for you, and you won't regret it even a bit.

Book a call today to get started.