An accountant in the hospitality industry is a financial professional responsible for managing and analyzing financial transactions within hotels, restaurants, catering businesses, café, tea shops and other hospitality-related establishments. Their role ensures that the business remains financially healthy, compliant with regulations, and capable of making informed financial decisions.::
Recording daily financial transactions. Keeping track of revenue, expenses, and profits.
Planning for future expenses and income.
Ensuring employees are paid accurately and on time.
Monitoring ingredient and supply costs to prevent wastage.
Preparing reports such as balance sheets, income statements, and cash flow statements.
Evaluating financial performance and identifying areas for improvement.
Offering financial advice to help businesses improve profitability, manage costs, and plan for the future.
Calculating taxes owed, preparing tax returns, and ensuring compliance with tax laws. Handling VAT, sales tax, and other regulatory requirements
Examining financial records to ensure accuracy and compliance with regulations.