Accounting for Tourism and Hospitality
Tourism represents a large percentage of jobs and income in the South West and beyond and we have a specialist team with a wealth of experience in accounting for tourism and hospitality businesses.
We can advise and assist visitor attractions, holiday parks, hotels, guest houses, restaurants and travel agents and more, and can help you make a success of your business.
No matter where you’re based, Maynard Johns can act as a virtual accountant, providing accounting services for all types of tourism, leisure and hospitality businesses.
The UK’s tourist hotspots attract millions of visitors every year and each business has to compete for their attention during the busy season. No matter the size of your business decisions over opening hours, staffing, prices and facilities are key to maximising footfall, spend and profit.
You need to be in full possession of accurate, timely management information to make these decisions correctly and having a robust accounting function is vital to avoid costly mistakes. Your business also needs to plan ahead for the expense of maintenance and larger projects during the quieter months.
We are experts in accounting for tourism and hospitality businesses and can help you attain full financial control. This in turn will steer your business forward in the most tax efficient way.
We can support you with:
- Your payroll including seasonal staff issues.
- Running specialised tourism software that puts you in control of your business finances.
- Calculating profit based on different occupancy rates, prices and seasonality.
- Pricing correctly for attracting more guests in the shoulder seasons.
- Producing cash flows and business plans that can update daily.
- Applying for finance and grants to aid expansion and other projects.
- Calculating the breakeven point of longer opening hours or an elongated season.
- Ensuring you take advantage of all tax allowances when expanding and buying new fixtures or equipment.
- Planning and preparing for retirement, succession and ownership changes.
- Preparing the next generation to take over the reins in a managed way.
Visit us in our Bideford office or give us a call!
Telephone 01237 472071