Running a profitable hospitality business revolves around managing money but this can be difficult and time-consuming for many restaurants, bars and hotels. Between dealing with accounts payable and payroll, regulating operating costs and tracking inventory, maintaining your finances requires significant time and effort. Outsourcing these important tasks to Chahal & Associates, Inc. is more cost effective than trying to handle all of these functions in house. With our help you can closely monitor expenses, get your bills and employees paid on time, and reduce your tax liability.
If you own a hospitality business in the Bay Area area, learn more about our accounting and tax services below. Then, schedule a free initial consultation to discuss customizing a package for your business.
We can compile valuable financial reports you can use to track labor, food and beverage costs. We also offer general ledger reporting, sales and use tax reports and monthly cost analysis.
Keep your accounts payable accurate and up to date by outsourcing to us. We’ll enter invoices, reconcile credit card statements, pay vendors on time and keep you in the loop so you know where your money is going.
We can handle payroll processing and reporting around the specialized needs of hospitality businesses. We understand how to report tips properly and will get different classifications of employees paid correctly and on time.
We go beyond tax preparation and constantly monitoring state and federal tax regulations and how they might affect your bottom line. Our tax planning strategies will ensure you always save the most money on taxes and never pay more than you owe.
Even if you think you’ve always filed your taxes correctly, if the IRS or State of California has flagged you for an audit you’re probably scared and have lots of questions. We're happy to answer all your questions and be at your side throughout the process.
We guide business owners through many of the crucial financial decisions they need to make when starting a new business. We'll assist you in developing a business plan, obtaining a loan, and identifying the business entity that will bring the most tax benefits.