Restaurant, bar and lounge owners are often so focused on serving their customers that maintaining their finances becomes a challenge. Before your books get out of hand, turn to the experienced Arizona based accounting professionals at Oasis Business Solutions. We know that understanding the financial position of your restaurant, cafe, bar or lounge is a vital part of the success of your hospitality business.
Our experience helping US based restaurants means we have the skills to address all of the unique challenges of your establishment. We'll work with you to streamline processes, decrease expenses and help increase productivity.
Our services for the food service industry include:
- Financial statements
- Bank reconciliations
- Management reports
- Sales tax
- Accounting system set up and training - QuickBooks
- Business plan
- System controls setup
- Point-of-sale systems
- Inventory valuation
- Accounting and bookkeeping
- Tax returns - income, sales tax, payroll
- Business startup assistance
- Tip reporting and allocation
- Inventory management systems
- Profitability analyses
- Tax planning
- Budget planning
- Menu pricing analysis
Retail Products & Services Industry
Every business, regardless of size or industry, is responsible for its own accounting to supply the financial information regulators require and keep tabs on its own performance and growth. Retail product and services stores encounter special accounting challenges, both in the form of a complex business and limited resources to devote to the accounting process.
- Gas Station
- Golf Club
- Car Wash
- Dry Cleaners
- Interior Designer
- Photography Studio
- Bicycle Repair Shop
- Dog Groomer
- Car Was
Oasis serves retail driven and consumer-pulled businesses all over the USA. Every business, regardless of size or industry, is responsible for its own accounting to supply the financial information regulators require and keep tabs on its own performance and growth. Retail products and services stores face several special accounting challenges, both in the form of a complex business and limited resources to devote to the accounting process.
Accounting software is among the most convenient and cost effective ways for a small retail shop to manage its accounting in-house. Software packages that meet all of a small retailer's basic needs sell for anywhere from $300 to more than $1,000 per year, according to "PC Mag." These programs allow owners, as well as managers with authorization, to log in, record transactions and manage payroll, sales and inventory tracking and operating expenses. Accounting software for a small retailer can run on most conventional computers, so hardware requirements are minimal.
Keeping records of financial transactions outside of an accounting software program is also essential. A small retailer needs a method to keep receipts, sales records, loan statements, bank information and past tax data. This includes information that a retailer doesn't have a need to enter into an accounting software program immediately, as well as information that will be necessary if data stored on the computer is lost. Sales associates, managers and anyone else with a connection to the store's financial activities needs to know which documents to keep and how to file them.
Every retailer needs a method for counting physical inventory in the store. This is because accounting relies on accurate data for the value of inventory, which is classified as an asset. Inventory information also confirms sales data and determines how much the retailer can write off as a loss from damage or theft. Some small retailers choose to take physical inventory counts while the store is closed. Others employ cycle counting, which uses an ongoing system to count the inventory for various aisles, shelves and storage areas on a regular basis. Whichever method the owner chooses, a small retailer must follow a consistent method for inventory accounting.
Managing accounting, even for a small retailer, requires someone with the right knowledge and skills to manage the process. Small retailers are likely to employ people who have expertise in the goods they sell, especially in the case of specialty shops where an owner's passion is a key attraction for customers. However, hiring someone with a background in finance can satisfy occasional accounting needs, as well as ongoing financial responsibilities associated with the store. In other cases, small retailers need to employ accountants who work independently, or for outside agencies, to help them get their books in order and handle annual income taxes.
Entertainment & Media Industry
Our firm's accounting services are designed for all kinds of individuals and businesses in the entertainment industry, including actors, models, musicians, tour managers, producers, directors, and talent agencies.
The media and entertainment industry faces unique issues driven by ever-changing technologies, distribution models, consumer behavior, digital privacy and runaway production in today's volatile economy. Oasis' accounting professionals have the experience and deep industry knowledge that is crucial to keeping clients ahead of these changes and providing value added solutions.
As entertainment accountants, Oasis Business Solutions provides accounting services to businesses and individuals throughout the entertainment industry. Our goal is to let you concentrate on developing your talents while we handle your traditional accounting, bookkeeping, and tax functions.
Although many of the accounting needs of those in the entertainment industry aren't fundamentally different from other industries, there are certain industry-specific tax issues that may arise. Whether you're a business or an individual, working with an accountant that's familiar with the common financial challenges of entertainers ensures that your books are being handled properly.
At Oasis we understand the complexities associated with promotion costs, royalties, and tour expenses, plus we have knowledgeable staff members specifically dedicated to our clients in the entertainment industry.
Our Accounting and Tax Services for Entertainers Include:
- Production accounting and budgeting
- Production cost reporting
- Small business accounting
- Tax planning
- Tax preparation
- Payroll and sales tax
- Financial statements
- Outsourced accounting and bookkeeping
- Operating expense and cash flow analysis
- Wealth management
- QuickBooks accounting software and general ledger accounting