Whether you own a small neighborhood bar or a large club with multiple locations in the Atlanta area, accounting for bars is a specialized activity that requires industry knowledge and attention to detail. At Fusion CPA, you'll find all that and more.
Bookkeeping for Bar Owners Benefits Your Business
Let's face it, owning a bar is a 24-hour activity that leaves little time for leisure, let alone bookkeeping and tax planning. You've got inventory, payroll, and entertainment to manage. That's on top of government and industry regulations that seem to change every year.
Navigate With Professionals
By working with a qualified accountant from our firm, you're getting industry experience and deep knowledge that's supported by current technology. Platforms like Quickbooks allow our CPAs for bar owners to perform financial advisory services that are data-driven and accurate.
How Financial Advisory For Bar Owners Works
The first step is to schedule a personalized consultation so we can get an overview of where your business stands and where you would like to be in the future. Our CPA for bar owners will work with you to identify areas of financial risk and offer solutions, help balance your budget, and show you ways to manage inventory more efficiently.
However, accounting for bars doesn't just mean having a bookkeeper on call.
Our goal is to improve your overall financial picture so that you can focus on building your business. Bar owners work largely on a cash basis, so we'll strive to find ways to improve your cash flow and maximize profits. These methods include streamlining your bookkeeping system, evaluating insurance and tax liabilities, and improving revenue streams.
We've developed a system of bookkeeping for bar owners that's tailored to the requirements and realities of the industry. For smaller establishments, a cash accounting basis is sufficient. However, that doesn't work if your business model relies on delayed payments and vendor credit accounts to cover deliveries. What happens when your business grows, and you need a more granular method?
We also offer tax planning for bar owners that's designed to meet the specific requirements of your industry and reduce your liabilities. Government regulations for bars and restaurants mean different filing requirements based on revenue, so it helps to know when you need to file an IRS Form 3115.
With us, worries about accurate, timely filing and penalties are things of the past. Our CPAs apply attention to detail and knowledge of tax regulations to ensure that you'll meet any additional reporting requirements. Our accounting system integrates your revenues, payables, and other financial information and compiles everything into concise financial documents that are ready to file.
But, it isn't just about how your business is doing today. We want you to face future financial challenges with confidence. Your financial adviser will work with you to find ways to fund business expansion, pay for your child's education, and retire in style when the time comes.
Aligning Your Future
Your goal is to keep people in the Atlanta area refreshed and entertained. Our job is to keep an eye on your bottom line. When you're ready to maximize your profits and create a healthier bottom line, we're here to guide you every step of the way. You can learn more about our services by clicking the button below to schedule a complimentary discovery call today.
This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.