Accountants for Restaurants & Cafes
Serving up financial success for Croydon's thriving food and beverage sector
Industry-Specific Pain Points We Solve
- Cash Flow Volatility: Managing seasonal fluctuations and unpredictable daily takings
- Complex VAT Rules: Navigating different rates for eat-in, takeaway, and delivery
- High Staff Turnover: Constant payroll changes and tip distribution complications
- Inventory Management: Food waste tracking and cost control with perishable stock
- Thin Profit Margins: Operating on 3-5% margins with rising food and labor costs
- Multiple Revenue Streams: Managing dine-in, delivery apps, catering, and events
Tailored Solutions for Your Restaurant or Cafe
We understand the unique challenges of running a food service business. Our specialized approach includes:
- Daily cash reconciliation and till management systems
- Flat Rate VAT scheme optimization (saving up to £5,000 annually)
- Real-time food cost percentage tracking
- Tronc scheme setup for fair tip distribution
- Menu pricing strategy based on gross profit targets
- Integration with POS systems (Square, iZettle, Lightspeed)
Essential Services for Restaurants & Cafes
Frequently Asked Questions
Should my restaurant use the VAT Flat Rate Scheme?
Most restaurants benefit from the 12.5% flat rate, especially if you have high food costs. We'll analyze your specific situation - typically saving £3,000-£5,000 annually for venues with £200k+ turnover.
How do we handle tips and service charges for tax?
We'll set up a compliant tronc scheme to distribute tips fairly while minimizing National Insurance. Service charges need careful handling - we ensure you're compliant with employment law and HMRC requirements.
What's the best accounting software for restaurants?
We recommend Xero or QuickBooks integrated with your POS system. This gives real-time gross profit tracking and automated daily sales entries. We'll set this up and train your team.
Ready to Improve Your Restaurant's Profitability?
Get a free profit margin analysis and discover how to increase your bottom line by 2-3%