Ten Things I Expect My Accountant to Do

We know from personal experience how hard it is to run licensed premises, so we also know what you are looking for in a licensed trade accountant. Here’s our list. Tell us yours.

Speak to me in words of one syllable so I understand:

  1. How much tax I owe
  2. How much VAT I need to budget for
  3. Is my business viable

Advise me on ways of improving my business by:

  1. Discussing expenses and how to reduce / control them effectively
  2. Improving my sales by promotions, advertising, leaflet drops, and social media - in fact anything that could help

Be straight talking with me

  1. Do I need to get out, if so what are the options ie. Sell, Re-finance (if Freehold), Lease or alternatively expand (Karl Marx said “When the capitalists are in the mire, they do the obvious thing…. Expand!!!)

Be available

  1. On the phone or a personal visit

Come – see my business

  1. It’s important to see the Business Premises to share and discuss the methods of improving the overall profitability

To advise me on my wastage

  1. What is the margin of profit required after reasonable wastage, both on "wet" and "dry"?
  2. My Accountant needs to see my cellar, measure the beer lines, ascertain the ullage factor and generally advise of the loss on wastage.
  3. Similarly on the food, the menus need to be discussed and costed out particularly if there is a ‘loss leader’

To have worked for themselves

  1. The self-employed attitude is essential.
  2. This attitude is paramount and your accountant needs to share this attitude for survival with you.
  3. It would be preferable if your accountant has at sometime in their past actually owned or operated a licensed premises.
  4. There’s no greater service than when your advisor has actually ‘been there’ and knows the pitfalls.

Be friendly and make it fun!

  1. The leisure industry is by its very nature a fun industry so make it fun and surround yourself with positive people who have a sense of humour and above all, enjoy yourself.

To give me more time!

  1. Benjamin Franklin said “Dost thou love life? Then do not squander time, for that’s the stuff life is made of”
  2. The Carringtons system saves YOU time, you effectively delegate to us all the admin.
  3. We do the rest and you can relax.

Give me peace of mind

  1. Carringtons has a dedicated staff who care about ensuring that everything possible is done to “get things done” so that you know all about your business (good or bad!!!)
  2. We care… it’s the only way.