While i've been a lurker for a while, i've decided to start joining in as i have just recently left my job in order to pursue my bookkeeping business full time. It is going quite well, and i have recently gained a pub as a client, doing his payroll too.
I'm almost embarrassed to ask this question in case it sounds really stupid, but most of my experience has been working in the service sector, so i'm wondering when it comes to the pubs bookkeeping, is it usual to keep and maintain stock records for food etc or is that down to the accountant?
Should i just post all his purchases to the purchases nominal or do i need to post it to stock etc?
Any advice would be much appreciated
Vicky
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Life's a piece of sh*t, When you look at it. Life's a laugh and death's a joke it's true. You'll see it's all a show. Keep 'em laughing as you go. Just remember that the last laugh is on you. And... Always look on the bright side of life.
I would post to purchases, however I would differentiate between 'wet sales' and 'Food', 'gaming machine' etc. At the year end the landlord should have a professional stock taker to do a stock report (often this is done monthly).
Make sure you are able to reconcile the cash, you will find that not all cash will be banked as this is expensive and inconvenient, so they will use the cash to pay staff and other things. I always like to see a daily/weekly takings sheet with the 'z' readings attached and details of what has happened to the money, ie wages paid, taxis etc with receipts wheer applicable and of course monies banked.
I know this has gone off the original question but best keep them on the straight and narrow.
Also pubs are going out of business at a rate of knots at the moment, if you have agreed a monthly rate try to get a standing order set up!
A weekly takings sheet showing the daily takings for food/bar/machines is always good and it does depend on whether they have a good POS system in place or whether its through a manual till. Cash businesses are the hardest to keep track of, as cash has a habit of disappearing and reconciling can be a very hard task.
As for the purchases, I would just post to purchases. It all depends on whether they want monthly man accs or not, otherwise a posting for stock for the annual accounts would be sufficient.
Thank you - i'm glad purchases should be sufficient.
He is actually very well organised and has run several pubs - he has a very good reputation and the pub he's refurbished is fantastic so fingers crossed for him. He's also very good at paying as soon as i give him my payroll invoice so hopefully that wont be an issue either.
There is a daily till total with analysis so that should make things a bit easier.
Thank you!
__________________
Life's a piece of sh*t, When you look at it. Life's a laugh and death's a joke it's true. You'll see it's all a show. Keep 'em laughing as you go. Just remember that the last laugh is on you. And... Always look on the bright side of life.
