Hospitality finance, explained.
Guides for venue owners on paying staff, GST and BAS, food and wage costs, and reading your numbers. Written by the team that keeps the books for over thirty venues, with every rule checked against the ATO and Fair Work.
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- What a bookkeeper costs a cafe or restaurant, and what the fee should coverXero's guide puts outsourced bookkeeping at $500 to $2,500 a month. What that is on a $20,000 week, and what a venue's fee should cover.
- A bookkeeper can't charge you for your BAS unless they're registeredAn unregistered bookkeeper can reconcile your bank and do plain data entry. To charge you for your BAS, payroll or dealing with the ATO, they have to be registered.
- Hospitality experience is easy to put in a quote. Here's how we'd test it.Four things to test on the first call: the TPB register, which award your staff are on, how they handle POS and delivery payouts, and how often you get numbers.
- Your cafe's award comes down to where customers eat, and who runs the placeEat-in cafes are usually on the Restaurant Award, takeaway-led cafes on Fast Food and hotel-run cafes on Hospitality. Sunday is where the wrong one costs you.
- The one page we send our venues every weekA monthly P&L arrives too late to fix anything. Here is the one-page weekly report we send our venues, a real week line by line, and what each line tells you.
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- What a bookkeeper costs a cafe or restaurant, and what the fee should coverXero's guide puts outsourced bookkeeping at $500 to $2,500 a month. What that is on a $20,000 week, and what a venue's fee should cover.
- A bookkeeper can't charge you for your BAS unless they're registeredAn unregistered bookkeeper can reconcile your bank and do plain data entry. To charge you for your BAS, payroll or dealing with the ATO, they have to be registered.
- Work out your cafe's food cost every week, with a stock count and the GST outTake Monday's stock, add what you bought, take off Sunday's, and divide by food sales without GST. The sum on $12,000 of food sales, and two shortcuts that skew it.
- Your cafe's wage cost includes super and the hours you work for nothingAdd super, workers comp and any payroll tax to the wages, then divide by sales without GST. The sum on a $20,000 cafe week, and what the ATO benchmarks leave out.
- Hospitality experience is easy to put in a quote. Here's how we'd test it.Four things to test on the first call: the TPB register, which award your staff are on, how they handle POS and delivery payouts, and how often you get numbers.
- Hot takeaway and dine-in carry GST. Cold takeaway goes item by item.Which cold food and drinks to go are GST-free, how to set up your POS buttons, and what one croissant button on the wrong code costs you over a quarter.
- Super now goes out with every pay run. Here's what that does to your cash.Since 1 July, super has to reach your staff's funds within 7 business days of each payday. What that means for a venue's weekly cash, and where venues get caught.
- Your restaurant's break-even is a weekly sales number. Turn it into covers.Your break-even is a weekly sales number your floor manager can count as covers. Here is the sum for a 60-seat restaurant, worked line by line.
- Your cafe's award comes down to where customers eat, and who runs the placeEat-in cafes are usually on the Restaurant Award, takeaway-led cafes on Fast Food and hotel-run cafes on Hospitality. Sunday is where the wrong one costs you.
- The one page we send our venues every weekA monthly P&L arrives too late to fix anything. Here is the one-page weekly report we send our venues, a real week line by line, and what each line tells you.