Hospitality Accounting

Experience in understanding Margins

View your whole business on one dashboard
Create stunning interactive reports
Consistent analysis across your organisation
Transform data into decisions

Within the hospitality sector, we have experience in dealing with all the financial aspects of the business. Managing finances in an industry that already requires long working hours can deem complicated and time consuming. We can help our hospitality clients understand their margins and what is driving profit and causing losses.

We have vast experience in advising clients how to reduce waste and increase profits, some clients have had financial systems that aren’t set up to give the information needed to run the business, this is where we can offer perfect systems and advice to fix these problems.

The issues faced by clients in the hospitality sector can range from:

  • Managing their finances can be complicated and time consuming in an industry that already requires long working hours
  • They need to understand their margins and what is driving their profit and causing any losses
  • They need to know their key areas of growth to focus on
  • They are looking to reduce waste and increase profits but have financial systems that aren’t set up to give the information they need to run their business
  • They need help to review their control systems and implement new ones
  • Cash flows can be tight and they need help to manage their working capital
  • Staffing costs need to be understood and managed but they don’t have any way to reliably measure them
  • They want to expand but need help to make a strong case to lenders to obtain funding

Dealing with all financial aspects of the hospitality sector

Ikara offer the following services tailored to the Hospitality sector:

The full end service we offer our clients are modular, meaning that they can choose what different services they need, we only charge flat fees, there will never be any hidden costs and we offer a point of contact that understands the business wholly – this can be on or off site.

  • Bookkeeping
  • Payment runs – full review and load to bank
  • Payroll and HR services
  • Cash Management procedure setup and maintenance
  • Controls System Review and new system design and implementation
  • Compliance assistance
  • Management reports, KPIs and Benchmarking -weekly and / or monthly
  • Management reports, KPIs and Benchmarking -weekly and / or monthly
  • Financial system reviews and setup
  • Latest technology and cloud based solutions
  • FD Support, temporary or part-time staff at whatever level you need
  • Credit Control services
  • All delivered through a single point of contact who understands the business

Ikara have a wealth of experience to help you grow your business

Some of the types of businesses in the Hospitality sector that we support are:

  • Restaurants
  • Hotels
  • Pubs/Clubs
  • Conference Centres
  • Events Companies
  • Banqueting venues
  • Golf/Social/Sports Clubs
  • Takeaways
  • Franchises

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