--- title: Hospitality Accountancy Services - New York - TimoTax description: Revitalize your hospitality business with expert accountancy for boosted profits and financial success through tailored solutions. --- [Skip to content](https://www.timotax.com/hospitality#main-content) Tax Season is here! Discover how our [Personal](https://timotax.com/personal-tax-preparation) and [Business](https://timotax.com/business-tax-preparation) Tax Preparation services can assist you in completing your tax filings. Close ** Click to close Business # Hospitality Hospitality Financial Excellence: Tailored Accountancy Solutions for Hotels, Restaurants, and More. ![17 - Industry - Hospitality](https://www.timotax.com/hs-fs/hubfs/Custom%20Graphics/17%20-%20Industry%20-%20Hospitality.png?width=543&height=362&name=17%20-%20Industry%20-%20Hospitality.png "17 - Industry - Hospitality") ![Revenue Optimization](https://www.timotax.com/hubfs/StorySet%20Illustrations/Design%20stats-amico.svg) ###### Revenue Optimization We focus on maximizing revenue streams, ensuring hospitality businesses capitalize on financial opportunities within the dynamic industry. ![Expense Management](https://www.timotax.com/hubfs/StorySet%20Illustrations/Calculator-amico%201.svg) ###### Expense Management Efficient cost tracking and management strategies to enhance profitability, allowing hotels and restaurants to control expenses and improve overall financial health. ![Cash Flow Stability](https://www.timotax.com/hubfs/StorySet%20Illustrations/Finance%20app-amico.svg) ###### Cash Flow Stability Implement robust cash flow management, providing hospitality businesses with the liquidity needed for day-to-day operations and strategic investments. Value Realization ### Payroll Processing Manage payroll accurately, including considerations for tipped employees, overtime, and compliance with labor laws in the hospitality industry. ![Finance app-amico-1](https://www.timotax.com/hubfs/StorySet%20Illustrations/Finance%20app-amico-1.svg) Audit Ready ### Transaction Record Keeping Stay organized with efficient transaction record-keeping, simplifying audits, and ensuring compliance with state or federal transaction regulations. ![Personal files-amico](https://www.timotax.com/hubfs/StorySet%20Illustrations/Personal%20files-amico.svg) Customer Satisfaction ### Impact Analysis Understand the financial impact of customer satisfaction through our analysis, helping hospitality businesses tailor services to enhance guest experience and loyalty. ![Online Review-amico](https://www.timotax.com/hubfs/StorySet%20Illustrations/Online%20Review-amico.svg) Safe and Secure ### Your Privacy & Security Matters Our team goes above and beyond to not just meet, but surpass privacy and security standards. We are committed to safeguarding your personal information, ensuring its utmost safety and security at all times. ![Security-amico](https://www.timotax.com/hubfs/StorySet%20Illustrations/Security-amico.svg) SIMPLIFIED & TRANSPARENT ### Pricing 1 Year ** 2 Years Save 10% Bronze ## $895 ## $805.50 Monthly Meet legal requirements and avoid penalties - Reconciling 2 Banks, Credit Cards, And/Or Loans - Setup And Modify Chart Of Accounts For Management Needs - Forecasting, Budgets, And Strategic Planning - Annual Adjustment For Depreciation Of Fixed Assets - Monthly Review of Accounts Receivables and Payables - Annual Adjustments For Inventory Value - Annual Adjustments For Intercompany Loans - Monthly Client Review Meeting - Process And Manage Payroll - Process And Manage Sales Tax - Quickbooks Online Subscription/License (Up To 5) - Receipt / Invoice Integration - Accrual Basis Reports - Designated as 3rd Party Accounting Representative - 2 Hours A Month Bookkeeping Team Time (Email Only) - CPA Team Time - Target Completion/Delivery Dates Before End Of the Following Month - Target Response Time Of 10 Business Days (Email Only)   - Monthly Training/Knowledge Transfer - IRS or State Audit Support - Financial Paperwork Digitization   - 3-Year Document Archival Click to Most Popular Silver ## $1,595 ## $1,435.50 Monthly Ensure compliance and good record keeping - Reconciling 2 Banks, and 2 Credit Cards, And/Or Loans - Setup And Modify Chart Of Accounts For Management Needs - Forecasting, Budgets, And Strategic Planning - Monthly Adjustment For Depreciation Of Fixed Assets - Monthly Review of Accounts Receivables and Payables - Monthly Adjustments For Inventory Value - Monthly Adjustments For Intercompany Loans - Monthly Client Review Meeting - Process And Manage Payroll - Process And Manage Sales Tax - Quickbooks Online Subscription/License (Up To 5) - Receipt / Invoice Integration - Accrual Basis Reports - Designated as 3rd Party Accounting Representative   - 2 Hours A Month Bookkeeping Team Time (Email, And Phone) - 2 Hours A Month CPA Team Time (Email Only)   - Target Completion/Delivery Dates Before 20th Of the Following Month - Target Response Time Of 5 Business Days (Email, And Phone)   - 2 Hours Monthly Training/Knowledge Transfer   - IRS or State Audit Support - Financial Paperwork Digitization   - 5-Year Document Archival Click to Gold ## $2,895 ## $2,605.50 Monthly Perfect for financial piece of mind and compliance - Reconciling 8 Banks, Credit Cards, And/Or Loans - Setup And Modify Chart Of Accounts For Management Needs - Forecasting, Budgets, And Strategic Planning - Monthly Adjustment For Depreciation Of Fixed Assets - Monthly Review of Accounts Receivables and Payables - Monthly Adjustments For Inventory Value - Monthly Adjustments For Intercompany Loans - Monthly Client Review Meeting - Process And Manage Payroll - Process And Manage Sales Tax - Quickbooks Online Subscription/License (Up To 5) - Receipt / Invoice Integration - Accrual Basis Reports - Designated as 3rd Party Accounting Representative   - 4 Hours A Month Bookkeeping Team Time (Email, And Phone) - 2 Hours A Month CPA Team Time (Email, and Phone)   - Target Completion/Delivery Dates Before 10th Of the Following Month - Target Response Time Of 2 Business Days (Email, And Phone)   - 2 x 2 Hours Monthly Training/Knowledge Transfer   - IRS or State Audit Support - Financial Paperwork Digitization   - 7-Year Document Archival Click to #### Interested in additional services? Check out our [Business Tax Preparation](https://www.timotax.com/business-tax-preparation) services ## Frequently Asked Questions If you can't find the answers to your questions, please don't hesitate to get in touch with a member of the TimoTax team. [ Talk to an Expert ](https://www.timotax.com/contact) How can an accountancy firm benefit my hospitality business? We specialize in hospitality accounting, offering expertise in revenue optimization, expense management, compliance, and strategic financial planning tailored to the unique needs of hotels and restaurants. What compliance challenges do hospitality businesses face? Hospitality businesses face challenges related to tax compliance, licensing requirements, and industry-specific regulations. Our experts navigate these complexities to ensure compliance and avoid legal issues. How can cash flow management impact a restaurant's success? Effective cash flow management ensures a restaurant has the funds needed for daily operations, inventory management, and expansion plans, contributing to sustained success in a competitive industry. Can technology integration benefit my hotel's financial management? Yes, specialized accounting software for the hospitality industry streamlines financial processes, provides real-time insights, and enhances overall efficiency. Our firm guides hotels in selecting, training, and optimizing such tools for their business needs. ** ```json { "@context" : "https://schema.org", "@id" : "https://www.timotax.com#org", "@type" : [ "AccountingService", "LocalBusiness" ], "address" : { "@type" : "PostalAddress", "addressCountry" : "US", "addressLocality" : "Astoria", "addressRegion" : "NY", "postalCode" : "11103", "streetAddress" : "36-03 28th Ave" }, "areaServed" : [ "Astoria", "Woodside", "Jackson Heights", "Elmhurst", "Forest Hills", "Sunnyside", "Queens", "Manhattan", "Bronx", "New York City" ], "contactPoint" : [ { "@type" : "ContactPoint", "areaServed" : "US", "availableLanguage" : [ "en", "es" ], "contactType" : "Main Office", "telephone" : "+1-718-204-5400" } ], "geo" : { "@type" : "GeoCoordinates", "latitude" : "40.76662714415425", "longitude" : "-73.91576770731864" }, "hasOfferCatalog" : { "@type" : "OfferCatalog", "itemListElement" : [ { "@type" : "Offer", "itemOffered" : { "@type" : "Service", "areaServed" : "New York City", "serviceType" : "Business Entity Formation" } }, { "@type" : "Offer", "itemOffered" : { "@type" : "Service", "areaServed" : "Queens", "serviceType" : "Tax Planning" } }, { "@type" : "Offer", "itemOffered" : { "@type" : "Service", "areaServed" : "Queens", "serviceType" : "Tax Preparation" } }, { "@type" : "Offer", "itemOffered" : { "@type" : "Service", "areaServed" : "New York City", "serviceType" : "Regulatory Compliance" } }, { "@type" : "Offer", "itemOffered" : { "@type" : "Service", "areaServed" : "Queens", "serviceType" : "Bookkeeping" } }, { "@type" : "Offer", "itemOffered" : { "@type" : "Service", "areaServed" : "Queens", "serviceType" : "Payroll" } } ], "name" : "Accounting & Advisory Services" }, "image" : "https://www.timotax.com/hubfs/Custom%20Graphics/Primary%20Image%20-%20Right.png", "knowsAbout" : [ "Construction Accounting", "Real Estate Accounting", "Hospitality Accounting", "Retail Accounting", "Professional Services Accounting", "Technology Company Accounting", "Business Entity Formation", "Tax Planning", "Tax Preparation", "Regulatory Compliance for Businesses", "Bookkeeping", "Payroll", "Job Costing", "Contractor Bookkeeping", "Progress Billing", "Subcontractor Payroll" ], "legalName" : "Timotheou & Associates", "logo" : "https://www.timotax.com/hs-fs/hubfs/Branding/TIMOTAX_LOGO_01.png", "name" : "Timotheou & Associates", "priceRange" : "$$", "serviceArea" : [ { "@type" : "AdministrativeArea", "name" : "Queens" }, { "@type" : "AdministrativeArea", "name" : "New York City" } ], "slogan" : "Queens accountants for construction and growing SMBs", "telephone" : "+1-718-204-5400", "url" : "https://www.timotax.com" } ``` ```json { "@context" : "https://schema.org", "@id" : "https://www.timotax.com#website", "@type" : "WebSite", "inLanguage" : "en", "name" : "Timotax / Timotheou & Associates", "potentialAction" : { "@type" : "SearchAction", "query-input" : "required name=search_term_string", "target" : "https://www.timotax.com/search?term={search_term_string}" }, "publisher" : { "@id" : "https://www.timotax.com#org" }, "url" : "https://www.timotax.com" } ``` ```json { "@context" : "https://schema.org", "@id" : "https://www.timotax.com/business-tax-planning#page", "@type" : "CollectionPage", "about" : [ "Construction Accounting", "Real Estate Accounting", "Hospitality Accounting", "Retail Accounting", "Professional Services Accounting", "Technology Company Accounting" ], "inLanguage" : "en", "isPartOf" : { "@id" : "https://www.timotax.com#website" }, "mainEntity" : { "@id" : "https://www.timotax.com#org" }, "name" : "Accounting & Advisory Services" } ```