Frequently Asked Questions

Your Hospitality Accounting Questions, Answered By Experts

Contact Sales

We’re here to answer your queries

For over 30 years Paperchase has been the ‘go-to’ accountants and financial advisors for restaurants, bars, pubs, nightclubs, hotels, and other hospitality brands who desire financial management from experts who truly understand their industry. We provide a white glove accounting service from a senior accounting manager in your area that is supported by a specialized team who will run your accounts while you sleep.

In addition to bookkeeping, our corporate finance team can assist businesses with forecasting and analysis, budgeting, investor decks, and fundraising. To provide a holistic full-service experience for our clients, we can also provide property services by helping clients to find new locations or offload underperforming properties.

Paperchase’s hospitality services include day-to-day financial management and analytics in the form of bookkeeping, reporting, and payroll processing. Additional services are CFO and COO consulting, Operator and Investor Fundraising, and property services

Restaurants are more complicated than other businesses and require a nuanced approach to their finances. Cash flow from multiple areas, inventory with a limited shelf life, and an unpredictable market are all reasons to hire a specialized restaurant accountant over a traditional bookkeeper. Compliance is a tricky game in this sector and our hospitality finance experts have a deep knowledge of tax and compliance laws that affect your business.

Restaurants run on tighter margins than ever, and the key to profitability is having an experienced financial partner who can advise on profit optimization. Our restaurant accountants meet with our clients regularly to point out areas of improvement and opportunity that drive their businesses to success. Our processes have been proven over 30+ years, helping some of the most successful international restaurants expand, including Zuma, Cipriani, Dishoom, and Daniel Boulud.

Paperchase hospitality accountants represent a range of clients within the hospitality industry. This includes restaurants as well as hotels, nightclubs, and stores. We seek out restaurants at any stage in their journey who have ambitious growth plans and need an experienced financial advisor by their side.

We work with whatever software the client is using or make recommendations if they’re looking to switch. Paperchase is tech-agnostic so we will use and integrate with your tech stack or transfer your data to your preferred accounting software. Our accountants are experts in QuickBooks, Restaurant365, and Toast. Additionally, we work with Xero and any EPos system in the UK. For a non-exhaustive list of software we work with, click here.

Paperchase’s hospitality accountants work with all types of hospitality businesses. We work with hospitality businesses of all shapes and sizes from Michelin-starred fine dining restaurants and multi-location hotels to cafes, fast food franchisees and everyone in between.

Paperchase’s services differ between the number of locations and type of services requested. We understand that restaurant margins are tight, so we price our service reasonably. Our clients get a dedicated local account handler and back-office support team to manage their accounts for typically less than the cost to hire a single accountant.

Yes. Your account will be managed by a local senior account manager plus a back-office team of accountants. Our accountants meet with our clients regularly to provide advice and we adopt a high-touch service mod el, attempting to emulate the personal service our clients give their own customers.

As soon as you’ve found a space, let’s chat to evaluate our services, especially if there’s going to be construction involved. We usually won’t get started with accounting until 1-month before opening, but discussing early will give us ample time to prepare. Technically we can start as soon as they know they want to open a restaurant. We can do projections, help you find a site, and manage the day-to-day bookkeeping.

We process all our clients’ local, sales, and VAT taxes, but we do not file annual taxes. Instead, we prepare an audit pack with all the information necessary for your CPA, and work with them to provide any assistance or answer questions.

Our data is secured behind an encrypted server with multiple authentication layers. We store additional back-ups in a separate server. All data can only be accessed through our secure servers which is only accessible to the Paperchase team.

Yes. Paperchase does more than just accounting. We offer fundraising advisory services. We work with Private Equity investors, hospitality investors, and family offices to provide comprehensive support throughout the M&A process, whether it involves acquiring or divesting. Learn more about our fundraising and investment advisory services here

Yes. Paperchase represents some of the most famous hotels in America and we are a great fit to support an existing hotel finance team or provide reliable full-service support on our own.

Paperchase accountants meet with clients at a frequency that meets the needs of your business, ideally weekly, but at least quarterly. We offer custom tailored reporting based on your concept in the form of weekly and monthly analytic reports.

Our typical close time is 10-12 days based on complexity.