Multiple payment streams
EFTPOS, card surcharges, delivery platforms, gift cards and cash all settling on different timings, net of different fees.
HOSPITALITY & VENUES
Bookkeeping for cafes, restaurants and venues.
High transaction volume, thin margins and a payroll that changes every week. Hospitality punishes late bookkeeping faster than almost any other industry, because by the time the numbers are wrong the cash is already gone.
WHAT MAKES IT HARDER
Everything happens daily.
Most small businesses reconcile a handful of transactions a week. A venue can generate that before lunch.
Daily takings
POS totals that have to reconcile to what actually landed in the bank, with variances explained rather than absorbed.
Supplier volume
Produce, beverage and dry goods deliveries several times a week, mostly on statement, often with credits and short deliveries.
Award-driven payroll
Casual staff, penalty rates, split shifts and a roster that changes weekly. The payroll is rarely the same twice.
Wastage and stock
Cost of goods that moves with wastage and portioning, so gross margin only means something if the inputs are recorded properly.
Cash flow timing
Suppliers on short terms, rent monthly, wages weekly, and BAS quarterly. The timing matters as much as the totals.
WHAT WE DO ABOUT IT
Keep it to a weekly rhythm.
Reconcile what actually came in
- Takings reconciled across every payment stream
- Merchant and platform fees recorded, not netted off and forgotten
- Variances between POS and bank identified while they are still traceable
- Cash handling recorded consistently
Keep the outgoings honest
- Supplier statements reconciled, credits and shortfalls chased
- Payroll processed on cycle with STP filed each pay event
- Super tracked against quarterly due dates
- Wages and cost of goods visible as a share of sales
- BAS periods prepared from a file that is already current