At Yuriy & Associates, we specialize in providing dedicated accounting services for restaurants, ensuring that your business thrives in a competitive and dynamic industry. We understand the complexities of managing a restaurant’s finances, from fluctuating food costs to payroll management, and we’re here to provide the expertise and support you need.
Our Restaurant Accounting Services Include:
1. Restaurant Financial Management
- Cost Control & Analysis: Manage and analyze food and beverage costs to maintain profitability, with insights into how to reduce waste and optimize spending.
- Budgeting & Forecasting: Create realistic budgets and financial forecasts based on your restaurant’s unique operations, helping you plan for growth and success.
- Cash Flow Management: Ensure your restaurant has the cash flow it needs to cover daily operations, manage debt, and invest in future opportunities.
2. Bookkeeping & Financial Reporting
- Accurate Bookkeeping: Maintain detailed financial records of all transactions, including sales, expenses, and inventory, ensuring accuracy and compliance.
- Monthly Financial Statements: Receive clear and comprehensive financial reports that provide a snapshot of your restaurant’s financial health.
- Inventory Management: Track and manage your inventory levels to reduce waste and improve profitability, ensuring that every dollar spent contributes to your bottom line.
3. Tax Planning & Compliance
- Industry-Specific Tax Strategies: Take advantage of tax deductions and credits available to restaurants, helping to minimize your tax burden.
- Sales Tax Compliance: Navigate the complexities of sales tax collection, reporting, and remittance, ensuring your restaurant stays compliant with local and state regulations.
- Annual Tax Filing: Our team ensures that your business taxes are filed accurately and on time, avoiding costly penalties and keeping your business on track.
4. Payroll & HR Services
- Comprehensive Payroll Management: We handle all aspects of payroll, including wage calculations, tax withholdings, and employee benefits, so you can focus on running your restaurant.
- Tip Reporting & Compliance: Ensure compliance with tip reporting regulations, and manage the complexities of tip pooling and distributions.
- Employee Benefits Administration: Streamline the management of employee benefits, such as health insurance and retirement plans, ensuring your staff is well-cared for and motivated.
5. Financial Consulting & Business Planning
- New Restaurant Start-up Support: From business plan development to securing financing, we provide the financial expertise needed to successfully launch your restaurant.
- Business Expansion & Franchise Support: Whether you’re opening a new location or expanding into franchising, we offer strategic advice to guide your growth.
- Break-even Analysis: Understand the financial dynamics of your restaurant, identifying the break-even point to ensure sustainable profitability.
6. Restaurant Acquisition & Sale
- Valuation Services: Receive an accurate valuation of your restaurant, whether you’re buying, selling, or merging with another business.
- Due Diligence: We perform thorough financial due diligence during acquisitions or sales, helping you make informed decisions.
- Exit Strategy & Succession Planning: Plan for the future with our expertise, ensuring a smooth transition when the time comes to sell or pass on your restaurant.
Why Choose Yuriy & Associates?
- Industry Expertise: With years of experience serving the restaurant industry, we understand the specific challenges and opportunities you face.
- Tailored Solutions: We provide customized accounting services that fit the unique needs of your restaurant, no matter its size or style.
- Proactive Partnership: We work closely with you to anticipate your financial needs, helping you stay ahead in a fast-paced industry.
Contact Us Today
Are you ready to elevate your restaurant’s financial management? Contact Yuriy & Associates today to schedule a consultation and learn how our specialized accounting services can help your restaurant achieve financial success.
