“IN AN EXTREMELY COMPETITIVE INDUSTRY, THE PREPARED WIN.“
The hospitality industry is known for high transaction volume and low margins. The successful owners are focused on the details and use the ‘numbers’ to manage the business.
We have systems customized for the hospitality industry and professionals with the experience and passion to deliver the ‘numbers’ needed by the owners to focus on the business.
- 1Rising above the competition is always the goal. The best way to succeed is to focus on making your bar or restaurant into the popular, lucrative business you envisioned it to be. Focusing on both the accounting and the day-to-day happenings can be exhausting. Let us carry some of the weight. We handle the accounting, you handle the food. We serve you, you serve the customers.
- 2Operating a company in a fast paced industry is hectic.Paying bills, recording sales, and checking bank balances can become a chore that is often overlooked. That’s where we come in. We can integrate with your P.O.S system, reduce manual input, and set up live bank feeds to stay on top of transactions. When everything is current, you will always have an up-to-date image of your finances, and will be free to make the important decisions without distractions.
- 3Storage closets are for odds and ends, not your bookkeeper’s computer. Many restaurants do not have the space, technology, or staff required to manage sensitive financial information correctly. We are backed by secure data storage technology, with employees that know how to use it. Our staff is trained to streamline processes to efficiently record large amounts of data, anywhere, anytime. When you team up with us, your closet turns into a full accounting office.
- 4Business management can feel like a puzzle with pieces missing. Quality, up-to-date reports are crucial to the success of any business. By eliminating the unknown, our reports will enable you to make wise financial decisions effortlessly. When you are able to see the big picture, it is easier to recognize great opportunities.
HOSPITALITY SYSTEM REPORTS
Accurate and timely reporting can mean the difference between open or closed doors. That’s why our leadership at the Bean Team developed accounting systems that provide managers access to detailed reports outlining daily operating results. This high level of support enables our clients to make crucial decisions to maximize their business’s potential for profit. In today’s economy it is vital to take advantage of every opportunity that can give you an edge on your competition.
Don’t just take our word for it, see for yourself!
These reports are created from the accounting system and are part of the month-end closing process. In general they present statistics on actual performance compared to budget.
This report includes revenue and cost data by food, liquor, beer and wine for the month. The information is organized to make it easy to quickly identify dollars and percentages relative to budget and different reporting periods. We color coded every report to highlight the areas of success and the areas of concern. For instance, food revenue that exceeds budget would be color coded green, whereas if the cost of food percentage exceed budget it would be color coded either yellow or red, depending on the amount of excess. Actual, budget, prior month, prior year to date and current year to date data is presented in a summarized dashboard format.
This report shows costs by Rooms, Administrative, Sales & Marketing and Engineering/Utilities. Percentage of total revenue by cost or as a Per Occupied Room is presented. Additional key data is presented, like Occupied Rooms, Occupancy %, Average Daily Rate and REVPAR. This color coded dashboard highlights costs, revenues and profits that beat budget or failed to meet it. A green color represents that the budgeted goals were exceeded and red means that goals were not met. Actual, budget, prior month, prior year to date and current year to date data is presented in a summarized dashboard format.