When to hire a bookkeeper for your restaurant?

The restaurant business can be a challenge at the best of times.

There is no question that bar owners, restaurant managers and cafe owners can indeed manage their own company books if they want to. But if you are looking for them to be completed to the highest standards, and you are wanting them to be processed efficiently whilst providing invaluable information into the running of your business that can lead to actionable next steps, then seeking an outsourced bookkeeping company like ourselves may just be the next best step to take.

Running a business is not easy. But at Momentum Bookkeeping, our goal is to make it easier for you.

Bookkeeping is what we do and we can focus 100% of our time towards it. If your bookkeeping has been flagged for errors in the past then now may just be the time that you should consider hiring a bookkeeper for your restaurant.

Did you know that Nine out of Ten businesses don’t know their income and expenses, financial trends or the reality of the company’s profitability.  This can kill your business!

Bookkeeping errors can lead to large outgoings in cash flow, late payments and expensive tax charges. What may seem like a simple bookkeeping error could in actual fact cause the business to fall deep into the red. And the most concerning issue is that if you are a restaurant owner doing your own books, you may not even know you are making these errors. It costs you valuable time and money when it could so easily be outsourced for a lot less than you might think.

We provide bookkeeping services for restaurants across the country so we know that a restaurant is a complex business that comes with multiple daily and monthly transactions. There is the challenge of dealing with numerous suppliers whilst operating a mixture of both cash and digital payment transfers (though the Covid-19 pandemic has moved more and more customers into digital card based payments). A restaurant business has to keep track of multiple cash flows ranging from the daily transactions with customers to weekly/monthly transactions with suppliers who may even be operating on a credit basis.
And this is why restaurants, bars and cafes can be so challenging to operate the books for. And that is why having an outsourced professional bookkeeper to manage this is so important.

Every restaurant owner must keep a record of their transactions. It is the law.

Whether you are just starting out your restaurant or if you have been running your restaurant for years. If you have noticed errors in your own bookkeeping work and are wanting your finances to be more efficient and streamlined, then now may be the perfect time to speak to an outsourced bookkeeper like ourselves. We can save you time in a business where time means money.

Whether it’s getting paid by your customers on time, completing your VAT returns, processing payroll or submitting your annual accounts and tax returns, the demands on businesses can seem endless. And it’s almost certainly not why you got into the restaurant business in the first place. It is, however, exactly why we got into business. We do the things you avoid because where your business is concerned, you do the real work, we do the paperwork.

To find out more about how easy it is to hire a bookkeeper, what is involved and how we work for you, the easiest solution is to pick up the phone and talk to us.

From VAT returns and payroll services to custom built MySQL databases as part of our Bespoke Bookkeeping Services; from a once a year service (such as annual accounts) to a daily interaction service into your business; we can be as integrated with your business as you want us to be.