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Business

Hospitality

Hospitality Financial Excellence: Tailored Accountancy Solutions for Hotels, Restaurants, and More.
17 - Industry - Hospitality
Revenue Optimization
Revenue Optimization

We focus on maximizing revenue streams, ensuring hospitality businesses capitalize on financial opportunities within the dynamic industry.

Expense Management
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
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.
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Audit Ready

Transaction Record Keeping

Stay organized with efficient transaction record-keeping, simplifying audits, and ensuring compliance with state or federal transaction regulations.
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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.
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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.
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SIMPLIFIED & TRANSPARENT

Pricing

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
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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
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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
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Interested in additional services?

Check out our 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.
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.

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.

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.
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.