Hospitality Accountants

We provide hospitality accountants to restaurants, hotels, and other hospitality businesses. Our team handles accurate payroll processing, bookkeeping, accounting, and VAT submissions. We manage daily transactions, sales, and purchases, as well as maintain detailed records to ensure your operations run smoothly.

When you work with us, you get dependable help that keeps your finances well-organised and meets all the rules. This allows you to focus on enhancing your customer service and expanding your business, knowing that experts handle your accounting.

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Benefits of Hiring Hospitality Accountants

Hiring hospitality accountants or restaurant accountants gives your business the financial expertise it needs.

Our hospitality accountants help to:

Keep accurate and up-to-date accounting records.
Manage bookkeeping to track all daily transactions.
Handle payroll processing on time and correctly.
Prepare and submit VAT returns as per the rules.
Help control budgets and monitor cash flow.
Provide advice on VAT compliance and accounting best practices.

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What We Do for Hotels and Restaurants

Bookkeeping and Management Accounts

We track all your transactions and maintain an up-to-date record.

Payroll Services

We process payroll on time and ensure accurate employee payments.

VAT Returns and Registration

We handle your VAT submissions to ensure compliance and avoid penalties.

Account Reconciliation

We regularly reconcile accounts to quickly find and fix errors.

Annual Accounts and Corporation Tax

We organise your accounting documents for audits and regulatory checks.

Hospitality Expertise

We offer personalised advice and reliable support tailored to hotels and restaurants.

Bookkeeping Services for Hotels and Restaurants

Maintain accurate daily records of sales, purchases, and expenses.
Track cash flow and manage all transaction entries.
Reconcile bank statements and accounts regularly.
Organise receipts, invoices, and supporting documents.
Prepare clear bookkeeping reports for business insight.
Ensure compliance with hospitality industry standards.
Support the setup and use of bookkeeping software.
Keep all records ready for audits or checks.

Accounting Rules Every Hotelier Should Know

Capital Allowances for Hotels:
Hotels keep detailed accounting records of expenditures related to property, furniture, and fittings. Staying updated with accounting guidelines ensures these costs are properly recorded and tracked.
Staff Payroll Management:
Special accounting procedures apply to payroll for hotel employees. Accurate payroll records and timely processing help avoid errors and ensure smooth wage administration.
Accounting and Reporting Standards:
Hotels must follow specific accounting standards to maintain consistent and accurate records. Proper bookkeeping and report preparation ensure clear tracking of business performance and compliance with legal requirements.

Free consultation

Why Choose Our Hospitality Accountants?

Expertise You Can Trust

Our team has deep knowledge in hospitality accounting to keep your finances accurate and compliant.

Time-Saving Solutions

We efficiently handle your accounting tasks so you can focus on running your business.

Deadline Management

We track all key deadlines for VAT, payroll, and reports to help you avoid penalties.

Maximised Savings

We find ways to reduce costs and apply best accounting practices to boost your profitability.

Reach us today.

If you want to take your accounting work to the next level, then reach us today without wasting time.

Book a consultation

Gives us a Call

0208 8611685

Send me Mail

info@phs-uk.co.uk

Frequently Asked Questions

Hospitality accounting manages financials for hospitality businesses like hotels and restaurants, tracking revenues, costs, payroll, and transactions.

To record, analyse, and report financial data that supports decision-making, compliance, cost control, and profit optimisation in hospitality businesses.

Yes, most hotels employ or contract accountants to manage their complex financial records, payroll, tax filings, and financial reporting.

Duties include bookkeeping, payroll processing, financial reporting, cost control, reconciling accounts, VAT submissions, and ensuring regulatory compliance.

Hotels, resorts, restaurants, event venues, and other service-based hospitality businesses.

VAT on staff meals and training may be limited or non-recoverable, while uniforms may qualify if they meet certain conditions. Check local VAT regulations for specifics.

Hotels use accrual accounting combined with industry standards like USALI, tracking revenue when earned and expenses when incurred for accurate financial management.

Accrual accounting is preferred, as it provides a clearer picture of financial health by matching income and expenses when they occur, not just when cash changes hands.

PHS Associates Acc & Co is led by a skilled team with expertise in Accounting, Taxation, Payroll, Business consultancy, and Company secretarial services.

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Company number - 08670151