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October 2019
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By Sky Accountants
For liquor stores, inventory only involves making sure their stock matches their sales and invoice records. It can be a bit more complex for bars and restaurants because liquor is sold by shots instead of by bottles.
By Sky Accountants
Restaurants and bars get by on very thin profit margin so it is important to keep proper accounting records to improve their odds of success.
By Sky Accountants
Your restaurant or bar has specialised accounting and bookkeeping needs and when you've grown your business to the point where you cannot keep the books yourself anymore, you need a bar bookkeeper or accountant who has years of experience in the...
By Sky Accountants
To run a productive and smooth restaurant, there should be a balanced coordination among your staff, vendors and inventory. Your restaurant's efficient operations depend on your preparedness.
By Sky Accountants
As a restaurant and cafe owner, you rely on your staff to cook and serve the meals, greet your customers and clean up the venue.
By Sky Accountants
Wages are often one of the largest expenses in any business, therefore it is crucial that wages are benchmarked, controlled and monitored through restaurant and cafe bookkeeping.
By Sky Accountants
Owning and running a restaurant requires hard work but many still dream of opening a second venue or more. However, in today's volatile market, would it be better to just focus on one restaurant? Restaurant bookkeeping experts weigh in.
By Sky Accountants
Many commercial kitchen equipment items are now available on the market, all promising to make everything efficient and consistent.
By Sky Accountants
Domestic overnight travel continues to perform well in Australia with about $74.5 billion spent during the year ending March 2019.
By Sky Accountants
Businesses look to accounting firms for advice on becoming more efficient and cutting costs in today's increasingly competitive business environment.
By Sky Accountants
Accountants are the first people businesses call when they want to grow, sell or downsize. They are a constant source of support and advice.
By Sky Accountants
Microhotels appeal to the younger generation, business travelers and even senior citizens. Hotel developers are more than happy to pack in more rooms than your typical hotel.
By Sky Accountants
Time theft occurs when an employer pays an employee for time that they weren't actually at work. Time theft is on the rise because of today's increasing mobile workforce and it's costing employers billions of dollars in lost productivity yearly.
By Sky Accountants
Without skilled migrant labour, the government needs to focus more on training Australian workers with the skills that employers like restaurants and cafés need otherwise the country will reduce its future economic growth capacity.
By Sky Accountants
In the past there was no set way in presenting the annual financial statements but changes were desperately needed.
By Sky Accountants
Small business and startup owners are often unsure whether they need a CFO or not. After all, how can a CFO add value to a young company? There is a perception that CFOs are expensive and are for billion-dollar corporations only.
By Sky Accountants
Your company may choose from many different sources to finance its working capital. If you are a new business, you would probably generate working capital through lending money to your company or buying more shares in it.
By Sky Accountants
Many small businesses are not yet aware of the good news coming their way.
By Sky Accountants
State governments are starting to reduce their payroll tax one by one and the WA Chamber of Commerce and Industry is urging the McGowan Government to do the same, saying local businesses need the reduction so they can employ extra staff.
By Sky Accountants
As with anything else in this world, expectations from the hospitality industry grows bigger and bigger by the day. Hotel, bar, restaurant, café, pub and gaming venue operators are expected to provide efficient and courteous service at all times.
By Sky Accountants
Australians love to eat out. According to the Australian Bureau of Statistics in 2018, an Australian household spends an average of $95.05 each week on restaurant and takeaway meals – an amount that's about triple their electricity bills or secondary...
By Sky Accountants
Sky Accountants have reviewed and analysed numerous businesses and have seen patterns emerging.
By Sky Accountants
Clubs are similar to businesses in many ways and they should also adopt best practices in terms of finances. It's important to ensure the organisation's viability as it directly affects its future, staff and volunteers.
By Sky Accountants
You can protect your investment through a business succession plan with insurance funding should critical illness, disability or death occur.
By Sky Accountants
If you could effectively minimise your tax, you just might be able to top up your superannuation, pay off part of your home or business loan, invest funds or even upgrade your car and have a holiday.
By Sky Accountants
Bookkeeping company, Sky Accountants, give a few points on how you can design your club, pub or hospitality business to be profitable this year.
By Sky Accountants
In March, Restaurant and Catering Association former and new CEOs Juliana Payne and Wes Lambert called for a wage increase freeze, saying it would significantly increase the financial pressures faced by restaurants, cafés and catering businesses.
By Sky Accountants
Businesses: What you need to do Because of STP, you will no longer be required to provide payment summaries to your employees or lodge a payment summary annual report to the ATO for information reported through STP.
By Sky Accountants
Using a small business accounting software can be a lot easier if it's available via the cloud. Traditional accounting can just take too much effort and time and doesn't add value to your business.
By Sky Accountants
The prestigious 2019 Australian Accounting Awards recently awarded several Australian individuals and firms at a five-star gala in Sydney on Friday, 24 May.
By Sky Accountants
Bookkeeping is important because it is critical to record your business' financial transactions. If you keep it accurate, you can better track your cash flow, pay taxes and manage your finances.

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