Pubs and Hotels – Hospitality Accountants

Pubs and hotels are fast-paced businesses where many decisions are made on the spot. It’s not uncommon to lose track of financial obligations and accounting due to the chaotic nature of the industry. Balancing daily operations, managing staff, and ensuring your customers leave happy, all at the same time, means that meticulous financial tracking can take a toll.

With multiple revenue sources, fluctuating expenses, and seasonal changes, even the most experienced pub owner is challenged to keep an eye on what’s required each day to maintain regular cashflow, while ensuring tax and reporting obligations are compliant.

Colledges have 50+ years of accounting knowledge and experience in hospitality

How we help you:

Funding For New Equipment

If you are considering capital investment, there are tax implications like claiming capital allowances, understanding depreciation rates, and potential immediate write-offs under the instant asset write-off scheme.

Tax Strategy

We’ll provide an effective tax planning strategy to minimise tax liability, ensure compliance with relevant regulations and understand specific deductions and credits available to the hospitality industry.

Expansion

If you’re planning to expand to new premises or purchase another hospitality business, we’ll provide advice on assessing capital outlay, financing options, and potential return on investment. We evaluate the impact on cash flow, tax implications, and potential economies of scale to understand the financial viability.

Tax Obligations

There are various taxes to be aware of that must be lodged on time to remain compliant, including income tax, GST, and payroll tax, Business Activity Statements (BAS). We also advise on strategies to manage employee superannuation.

FAQs

Pub and hotel owners look for guidance on the most relevant financial metrics, such as profit margins, cost of goods sold, labour costs, and revenue per seat, to make informed business decisions about growth and investment.

We’ll advise on and help you create strategies to maintain a healthy cash flow, manage inventory effectively, and prepare for seasonal fluctuations which bring variations in cashflow.

Our knowledgeable and experienced accounting team is up to date with industry-specific tax benefits, such as deductions for food and beverage costs, employee wages, and capital improvements.

Contact the team at Contact Colledges Accountants + Advisors today

We’re here to help you focus on your serving your clients while we look after the back of house. Give us a call for a no obligation discussion about your pub, hotel or restaurant. We have 50+ years’ experience in hospitality accounting. Our professional and knowledgeable guidance will help you establish business structures and accounting practises to ensure you remain complaint while running your businesses in the most profitable manner.

The Colledges Way

We bring integrity, forward thinking and frank honesty to the table. That’s the Colledges Way. We travel the finance journey right by your side and treat your business with the care we give our own.

Get in touch

Expertise

Over 50 years in accounting, taxation and business advisory services

The Long Haul

We continue to support and advise third generation clients

Caring

We’re responsive, approachable, compassionate and respectful

Straight Talkers

You always know where you stand with your finances