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:
- How much tax I owe
- How much VAT I need to budget for
- Is my business viable
Advise me on ways of improving my business by:
- Discussing expenses and how to reduce / control them effectively
- Improving my sales by promotions, advertising, leaflet drops, and social media - in fact anything that could help
Be straight talking with me
- 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!!!)
- On the phone or a personal visit
Come – see my business
- 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
- What is the margin of profit required after reasonable wastage, both on "wet" and "dry"?
- My Accountant needs to see my cellar, measure the beer lines, ascertain the ullage factor and generally advise of the loss on wastage.
- 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
- The self-employed attitude is essential.
- This attitude is paramount and your accountant needs to share this attitude for survival with you.
- It would be preferable if your accountant has at sometime in their past actually owned or operated a licensed premises.
- There’s no greater service than when your advisor has actually ‘been there’ and knows the pitfalls.
Be friendly and make it fun!
- 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!
- Benjamin Franklin said “Dost thou love life? Then do not squander time, for that’s the stuff life is made of”
- The Carringtons system saves YOU time, you effectively delegate to us all the admin.
- We do the rest and you can relax.
Give me peace of mind
- 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!!!)
- We care… it’s the only way.