Restaurant & Bar Accounting
At Keith Willis Associates we provide a range of accounting and taxation services, with this we can take care of all your business accounting needs, specialising in restaurants and bars across Nottingham.
If you run a restaurant or bar and need an accountant, our team can help. To arrange a meeting, give the team a call on 0115 947 6677.
Restaurant Accounting
For any successful restaurateur, financial management – and insightful financial planning – is essential. Our team of chartered accountants are here to help with dedicated restaurant accounting services aimed at strategically growing your business, while ensuring your finances are kept in check and handled intelligently.
From payroll and bookkeeping services to financial strategy building (profit and loss) and more, we tailor our bespoke service (with premium accounting software) around your business goals.
Bar Accounting
In addition to restaurants, we can also provide specialist bar accounting for bar owners/business owners across Nottingham and the surrounding areas. With in-depth services available – such as detailed business strategy planning and tax advice, we’re proud to provide key support services to help your business thrive.
If you’re simply looking for experienced accountants and bookkeepers to keep tabs on your financial records for you and complete tax returns, we have a wealth of experience providing this for business' of all sizes.
Bars, in particular, will benefit from attentive financial advice, and as Xero Advisor Certified and ICAEW Chartered Accountants, we’re perfectly positioned to provide this for you.
Our other Specialist Accounting Services include, but are not limited to Landlord Accounting and Care Home Accounting.
If you’d like to discuss how our specialist team can help with your restaurant or bar financial management giving you extra time to run your business, contact our team today.
Prices start from:
Service industry accounting - Quotation given following consultation.
All prices are subject to VAT at 20%.
Frequently Asked Questions
Why do hospitality businesses need a specialist accountant?
Restaurants, pubs, and bars operate on tight profit margins, high transaction volumes, complex perishable inventory, and strict cash flow cycles. A specialist hospitality accountant understands industry specific challenges like managing fluctuating food and drink gross profit (GP) margins, handling tip distribution schemes, and reconciling daily EPOS till reports with bank accounts.
How do you help manage restaurant and bar tip distribution (Tronc)?
Under UK legislation, 100% of tips, gratuities, and service charges must be distributed to workers without employer deductions. We help setup and run compliant Tronc schemes, ensuring fair tip allocation while optimising National Insurance Contributions (NIC) for both the business and staff where eligible.
What VAT rates apply to food and drink sales?
VAT in the hospitality sector varies depending on what you serve:
Standard Rate (20%): Applies to hot takeaway food, all alcoholic beverages, soft drinks, catered meals, and eat-in food and drink.
Zero-Rated (0%): Applies to most cold takeaway food and unheated bakery items consumed off the premises.
We ensure your sales categories are properly configured to avoid overpaying or underpaying VAT to HMRC.
How can an accountant help lower our food and beverage wastage costs?
By setting up granular bookkeeping and inventory tracking, we calculate your actual Gross Profit (GP) margin per menu category and compare it against your target margin. This variance analysis highlights stock shrink, portion control issues, supplier price hikes, or unrecorded waste so you can take immediate corrective action.
