Restaurants & Hospitality

Services for Restaurants & Hospitality Companies

Audit

  • Monthly Financial Statements
  • Monthly Bank Reconciliations
  • Maintain General Ledgers and Journal
  • Audits of Financial Statements
  • Employee Benefit Plan (401k) Audits

Tax

  • Federal and State Tax Planning and Preparation
  • State & Local Tax Planning and Preparation
  • Monthly Meals & Sales Tax Returns
  • IRS Annual Tip Report
  • Annual 1099’s
  • State and Local Tax (SALT)

Business Advisory

  • Maintain Fixed Asset Records & Detailed Depreciation Schedules
  • Annual Breakeven Analyses
  • Outsourced Controller & Accounting Services
  • PCI Compliance
  • Data Security and Penetration Testing
  • Acquisition & Divestiture Advisory
  • Regulation Compliance
  • Business Improvement Services
  • Business Modelling
  • Capital Planning
  • Cash-Flow Forecasting
  • Compensation Planning
  • Disposal of Non-Core Assets

Forensic Accounting

  • Fraud & Slippage Investigations
  • Fraud Prevention Advisory

How We Can Assist with Current Restaurants & Hospitality Accounting & Tax Issues

New Lease Accounting Regulations

These new accounting rules could have impact on bank loan covenants as they might change the borrowing base for many loans essential to your operations.

How to prepare: Briggs & Veselka is already working with companies and their banks to advise them on the possible implications of these new accounting regulations to help them prepare possible revisions to existing covenants and as guidance for future loan agreements. For more information, contact Jamie Sylvester at jsylvester@bvccpa.com.

Data Security

Companies with significant credit card transactions are faced with increasing scrutiny and potential assumption of liabilities for fraud events.

How to prepare: Briggs & Veselka Business Advisory professionals can assist with penetration testing, PCI compliance and data processing risks and controls issues to protect your operations from unneeded costs and reputation risk. For more information, contact Terry Sherrill at tsherrill@bvccpa.com.

Cost Management for Internal Financial Functions

Supplier billing, month-end closings, and reports for lenders can place burdens on your existing finance and accounting staff and impede the cash flow of your operation.

How to prepare: Briggs & Veselka’s Outsourced Accounting Services gives you budget flexibility and control when you require interim support of full back office accounting functions. For more information, contact Terry Sherrill at tsherrill@bvccpa.com.

Fraud & Shrinkage

More than 40% of retail shrinkage is caused by employees, either as isolated incidents or larger, more organized schemes.

How to prepare:  Our teams of internal auditors and forensic investigators can work with your operations teams to develop preventative methods via process improvement, or in the event of discovery of an organized fraud, conduct forensic accounting to uncover defensible evidence of fraud.  For more information, contact Sheila Enriquez at senriquez@bvccpa.com.

Who We Serve:

  • Full-service restaurant chains
  • QSR concepts and franchise groups
  • Catering services
  • Hotels
  • Golf course operation and management
  • Country clubs
  • Resorts
  • Professional sports teams
  • Sporting venues
Jamie_Sylvester

Jamie Sylvester

Audit Shareholder, CPA
jsylvester@bvccpa.com
713-353-1931

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Jason_Sanders

Jason Sanders

Tax Department Chair, CPA 
jsanders@bvccpa.com
713-667-9147

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TERRY_SHERILL

Terry Sherrill

Business Advisory Shareholder, CPA 
tsherrill@bvccpa.com
713-353-1998

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Employee Benefits Plan Audits Overview with Meresa Morgan

Fast Facts

  • Provide accounting and tax services for many major retail and restaurant concepts based in Texas
  • Abreast of industry issues, providing services beyond audit and tax compliance to address new complexities unique to the restaurant and hospitality industry