Hospitality businesses face the challenge of striking a balance between financial profitability and caring for the needs of their customers, and this can be hard to achieve for many. There are also shifts in the economy and seasonal trends to take into account, and at Horizon Accounting Inc., we understand all of the challenges that hospitality businesses face.
Hospitality businesses need to be profitable in order to thrive, but managing the financial aspects of a restaurant, bar or hotel, can be time consuming and often problematic. There are accounts payable and payroll to be dealt with, along with regulating operating costs and tracking inventory, leaving precious little time for managing the finances.
Why Horizon Accounting:
Trying to handle all of these functions in-house may seem like the most cost effective way, but with our expertise we can help hospitality businesses to closely track labor and food costs and keep a much closer eye on out goings and expenses; showing them how to keep a tighter rein on their internal controls and potentially saving them money in the long term.
We can also ensure that bills and employees are paid on time and that tax liabilities are kept at a minimum. Our team of experts are constantly keeping themselves up to date with state and federal tax regulations and will help companies devise strategies to make the most of their money and never pay more in taxes than they owe.