INDUSTRIES

Hospitality & Entertainment

Hotels, restaurants, bowling alleys, neighborhood bars and other hospitality-related businesses make up a good portion of our client list. Because there is a wide variety of hospitality businesses, with each owned by unique private companies, including families, our accounting services for small businesses are specialized and personal. Our tax experts, accounting professionals and audit departments provide our clients with customized plans and close personal services. Rather than simply doing a job and moving on to the next task, SDK prefers walking alongside our hospitality clients, offering the kind of service and care they deserve.

Paying attention to industry-wide metrics is critical in making your hospitality business profitable for years to come. Your business needs to strike the correct balance between revenue and expenses. Business owners need to be educated and guided in developing best practices for hospitality business structure based on these general rules of thumb:

  • Hospitality business owners need good, real time record-keeping to help see the rates on food and labor costs, and direct operating expenses. Without these measures in place, owners can only go by what their bank account tells them, which is not always an accurate or timely predictor.
  • Accurate management of any hospitality business structure requires appropriate stats to keep track of accurate internal controls, such as knowing where resources are going.
SDK CPA

We know from experience that the real value we bring is often measured in the long term. It is essential to get accurate numbers to work with from the beginning. We work with our hospitality partners to avoid the typical losses experienced when normal accounting data is unavailable as current and future decisions are being made. What we offer in value to our clients by providing efficient, accurate and current accounting services includes:

  • Proper accounting services and advisors help owners establish best accounting practices, reporting structures and habits to make better decisions on future goals and resource planning.
  • Ability to make decisions based on how your business is doing, rather than by what is currently in your checking account.
  • Much of a good accounting system can be automated, saving additional time, focus and effort.
  • Solid accounting records lends additional value to any business when preparing to sell.

Featured Services

We offer our hospitality partners a variety of bookkeeping and accounting services, such as:

  • Accounting, bookkeeping and auditing services
  • Advisory and consulting services for personalized financial education and guidance
  • Small business and individual tax preparation and filing
  • Accurate profit and loss reports
  • Special programs, software and training for automated accounting
  • CAAS accounting program services
  • Financial Statement preparation

Our Team

Memberships

Hospitality Minnesota
I-94 Chamber

SDK CPAs wants to make the lives of hospitality business owners easier and more efficient. Let us help you set up a specialized program for all your accounting.

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