In good times we tend to focus solely on increasing and growing profits across all integrated business units within our hospitality companies. When times become tougher, we need to also focus on cost savings through efficiencies to ensure our margins remain stable. In many cases reduced staffing levels also dictate a reduction in the time it takes to complete administrative and accounting tasks that can be easily automated. Brew Accounting can assist in solving both problems using their expertise as specialists in hospitality accounting and business planning and development.
In a recent survey on Small Business Accounting* only 25% of companies with less than 25 employees, and 46% of companies with 25-50 employees have a specialist CFO or executive level accountant within the business. Of those companies that don’t have a CFO, only 19% of managers felt they were extremely or very knowledgeable about accounting and finance despite it being a core business activity and a legal risk if consistent long-term errors are made.
For time-poor managers in smaller hospitality venues completing the accounting processes, payments, and reconciliations takes up lots of valuable time that is not directly related to growing the business. Even more important, interrogating that data to find those efficiencies, cost-savings and errors that could save the business money is impractical when your main skillset is people, not processes.
Outsourcing the accounting processes is more than just finding someone who can complete paperwork; it must include an expert who can partner with your business with up to date knowledge and can also identify areas of efficiency that can be introduced to save the business both time and money.
“Reclaiming your Time” Webinar: Wednesday 25th November, 1.30 – 2.30pm
Brew Accounting focus on supporting you to reclaim your time for more customer focused business operations by taking the hard work out of the accounting processes that take up valuable time. Next Wednesday 25th November between 1:30 – 2:30pm Brew are holding another in their popular webinar series, this time focusing on strategies that help reclaim your time. Brew Accounting will be joined by Dan O’Hara from the O’Hara Group for the discussion.
To register for the “Reclaiming your Time” Webinar click here >>>
Using their 30 years of industry experience, and with the knowledge that many accounting systems are not perfect for the specific issues in hospitality, Brew Accounting have developed their own fully automated business Hospitality Accounting System that fills the gaps and provides best practice accounting and compliance for the club and hotel industry.
Controlling cashflow, payroll, expenses and stock leakage, and providing opportunities to increase margins, is delivered in an easy to see dashboard format supported by a fully integrated and automated system.
The Brew Accounting Advantage system gives you your time back to get out of the office and focus on the things that truly contribute to increased business such as mentoring and training staff and getting in touch with your customers
How does it work?
The Brew Accounting weekly bookkeeping and accounting package provides an industry specific program that automates and simplifies all those administration tasks that chew up your time and get in the way of improving the customer experience by providing the club and hotel manager with automated systems to assist in:
Maximising margins – through weekly account reconciliation and careful monitoring of costs Brew provides action points each week and a monthly dashboard which gives you the knowledge to take advantage of opportunities and cut costs
Manage Cashflow – by preventing late payments, identifying duplicates and anomalies, and tracking expenses Brew can reduce cash and stock leakage and ensure revenue is converted to cash in the bank
Creates time – using systems and processes that remove time-wasting administration issues such as chasing invoices and late payments, dealing with suppliers and payroll issues, Brew will give you the time to get back to customer service, staff mentoring and training that will drive increased business
The Brew Accounting process interrogates your current POS and systems technology to ensure they are being utilised to achieve maximum functionality and control. Even in smaller venues that still prefer the excel spreadsheet process Brew can automate that process when efficiencies and control can be improved. A paperless payables integration to the POS and accounts system can be introduced which can check for duplications and fraudulent activity, and monitoring of daily benchmarks for purchasing, gaming income, wages and food/beverage costs.
Business Development and Advisory
Every Brew client gains an Annual Complimentary Client Review (CCR) to review and set goals for the year ahead. The annual strategic discussion will identify burning issues, opportunities and challenges so that you respond effectively and give you clarity around the actions you need to take to achieve your business goals.
Other areas that Brew Accounting can provide support with are:
- Business planning
- Organisational Review
- Financial Awareness Coaching
- KPI improvement coaching
- Core Values Development
- Cashflow Management
- Marketing Planning
To find out more about how the Brew Accounting System can partner with your business call:
Joanna Stuart (0405 027 250)
1300 BREW 00