Hospitality Accountant

In the market for a Hospitality Accountant? Baxterworld manages accounts for clients in Dublin, London, Amsterdam and Belfast. Hotels, Bars, restaurants and cafes have been an integral part of our business’ focus since Baxterworld’s conception over 30 years ago.

This gives us a wealth of experience in the nuances specific to food and beverage services, which we can pass on to you, our client.

Having a Management Accountant is Essential for those in the Hospitality Industry

As hospitality accountants we have seen many scenarios that cause businesses to soar or struggle. What we know from this is that the key to succeeding through difficult times is to recognise warning signs and be proactive. This is exactly what managements accounts are for; highlighting the Key Performance Indicators (KPIs) and helping you to hone in on the source of the problems or to exploit your successes.

The three most important KPIs are:

1. Gross Profit Percentage

Menu Prices – How do your prices compare with your competitors?

Promotions – Are you getting the volume you need to cover the loss?

Purchasing success – Can you get deals, change suppliers or tweak recipes?

The mix of high and low margin items – Promote high margin items, e.g. tea and coffee, pasta dishes

Wastage – Food leftover policy, mistakes, cleaning beer pipes etc

Pilferage of materials or cash – Unauthorised staff consumption, till fraud, CCTV reviewing

2. Wage Cost KPI's

Wage cost as a percentage of turnover can highlight management and rota problems. Usually shown separately for different areas, e.g. kitchen/wait staff. When compared with other venues or industry standards the following issues are highlighted:

Overstaffing – Having too many staff during quiet periods

Understaffing – Staff unable to cope in busy periods, requiring extra hands/training

Wages – Chef or Managers salary relative to their performance

3. Accommodation KPIs

Hotels can use many measurements to inform profitability. Examples are Occupancy %age, Breakeven Point, Breakfast cost per guest, Average revenue per bed night, Revenue as %age, Rack rates, Marginal cost per room night etc.

Sounds Amazing! But is it expensive?

We have a lot of experience working in the hospitality sector and we’ve gotten very good at making our service efficient. We have an online calculator secifically for this sector. So you can get an instant quote for your size of business by following the button below. Or you can call us and speak to us directly

Paperless, Outsourced

Working with food and drink is a messy business and paper takes up a lot of space. If you use our back-of-house service we can eliminate any need to hold onto supplier invoices, HR records and receipts. All of your information streamlined, clean, secure and always at your fingertips.

Fixed Monthly Price

No surprises or hidden costs. Our services are tailored for each of our clients based on their specific needs (and it’s surprisingly affordable).

We agree on the support that you want up front and deliver a service that you can depend on… including the price.

Cutting Edge

Baxterworld’s CEO Ray Baxter, spent his early career as a Financial Director in the food and hospitality sector; Later transitioning into entrepreneurship by successfully establishing a series of coffee shops, bakeries and restaurants.

Director, Catherine McRory, started her working life running a family Bistro before going on to gain her Accountancy qualifications.

In fact, the majority of our team has worked in the hospitality industry at some point in their careers before joining us!

Think we could work well together?

Click below to find out what a Hospitality Accountant can do for you