Hospitality
Maximise profitability in the competitive hospitality sector with accounting services tailored for restaurants, cafes, bars, and accommodation providers across Melbourne.
Hospitality
Restaurant and Bar Accountants Melbourne
Hospitality businesses operate on thin margins with high staff turnover, complex award rates, and seasonal fluctuations that create cash flow challenges most accountants don't understand. Managing inventory, wastage, and tip reporting requires industry-specific expertise that generic accounting firms lack.
The hospitality industry faces unique compliance challenges including liquor licensing obligations, food safety regulations, and complex penalty rates that can destroy profitability if managed incorrectly. Late night trading hours make bookkeeping difficult whilst high transaction volumes create administrative burdens.
Poor financial management in hospitality often results in business failure within the first two years, with many operators discovering too late that their pricing doesn't cover true costs including labour, rent, and compliance obligations.
Whether you need personal tax assistance or full practice-level accounting, Keystone is here to safeguard your financial health.
Hospitality accounting services
Accountants Who Understand Complex Accounting
At Keystone Taxation and Business Advisors, we’re dedicated to helping business owners make the most of their hard work. Our expert insights and resources are designed to give you a clear understanding of strategies, structures, and technologies that can drive your business forward.
Strategic Tax Solutions
Discover tax strategies and business structures available to you
Technology for Growth
Understand and apply new business management technology
Tailored Business Advice
Get in touch with us for information tailored to your business
Self-Managed Super Funds
End-to-end SMSF setup, compliance, and advice to help you take control of your retirement.
Payroll & Bookkeeping
Accurate, ATO-compliant payroll and bookkeeping services so you can focus on growing your business.
Frequently asked questions
Got Questions? We've Got Answers
Have a question? We’ve answered some of the most common ones below.
How do I calculate true food costs for menu pricing?
Food costs should include wastage, portion control variations, and price fluctuations. We help establish costing systems that ensure menu items maintain target profit margins consistently.
What are the penalty rate obligations for hospitality staff?
Hospitality awards include complex penalty rates for evenings, weekends, and public holidays. We ensure payroll systems calculate all penalties correctly to avoid underpayment claims.
How should tips and service charges be handled?
Tips can be retained by staff or pooled depending on your policy, but proper records must be maintained. We establish compliant tip handling procedures that satisfy ATO requirements.
What GST obligations apply to hospitality businesses?
Most hospitality sales include GST, but some items like basic food ingredients don't. We ensure proper GST accounting for all revenue streams and purchase categories.
How can I improve cash flow in a seasonal hospitality business?
Cash flow management requires forecasting seasonal patterns, managing inventory levels, and planning for quiet periods. We develop cash flow strategies specific to your business cycle.
Ready to Get Started?
Build a Profitable Hospitality Business Alongside An Accountant
Our hospitality specialists understand industry margins, seasonal patterns, and cost structures that determine success in restaurants, bars, and accommodation businesses. We provide pricing strategies, cost control systems, and cash flow management tailored to hospitality operations.
With specialist hospitality accounting, you'll understand your true profitability, control costs effectively, and build sustainable systems that support business growth in this challenging but rewarding industry.
