Business Accounting Services for Hospitality & Retail

Running a hospitality or retail business comes with distinct challenges and expectations. Fierce competition, regulation shifts, and dwindling profit margins represent just a fraction of this industry’s hurdles. Whether you’re a restaurant, hotel, or retail establishment owner, our dedicated business accountants will help you cut costs, boost profits and reach your full potential.

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No more risky business

As a business owner, you have enough to worry about without getting caught up in the complex world of tax. With the industry constantly updating and shifting, it can be overwhelming to keep up with all the rules, regulations and loopholes. With Thiel Partners on your team, you’ll stay one step ahead at all times, transforming your finances into a tool for tangible business growth.

Here’s what our tax experts bring to the table:

  • Tailored Tax Strategies: We customise strategies to your needs, optimising tax deductions, credits, and incentives while staying 100% compliant.
  • Proactive Risk Mitigation: No one wants to deal with time-consuming audits and penalties. We guarantee your retail or hospitality business fully complies with local, state, and federal tax laws at all times.
  • Financial Clarity and Peace of Mind: Thiel provides clear explanations of your financial situation without the industry jargon, so you always know where your business stands.
  • Less Worry, More Savings: As experts in our field, we swiftly identify potential tax savings you may miss on your own, helping you to make informed financial decisions.

In the dynamic realms of hospitality and retail, meticulous bookkeeping is the cornerstone of long-term financial success. Thiel Partners takes the burden of financial bookkeeping off your shoulders, freeing up your time and brainpower to focus on what truly matters – serving your customers and growing your enterprise!

We track every transaction, monitor cash flow, and maintain accurate ledgers with due diligence, giving you a clear picture of your financial health at every stage. From managing payroll and inventory management to reconciling accounts and cost control, we handle it all, helping you minimise expenses and maximise profits. Take the first step to streamline your finances today.

Given the rapid technological shifts in consumer shopping habits, employing a trusted business advisor has never been more crucial. Thiel Partners has forged strong partnerships with a diverse range of Australian and global hospitality and retail clients. We get to know your current position and goals, providing data-driven and strategy-led advice to give your restaurant, pub, hotel, boutique or similar the competitive edge it needs.

From enhancing customer experiences to implementing cost-effective marketing strategies, we provide the guidance and insights you need to make profitable business decisions. Together, we’ll craft a roadmap to weather industry disruptions and seize enterprise growth and innovation opportunities. Unlock the full potential of your hospitality or retail venture with Thiel Partners!

You can’t afford to financially misstep in such a competitive sector. Thiel Partners budgeting and cash flow projection services can ensure you stay on track, optimising your financial health for years to come. As your dedicated partners, we’ll diligently monitor cash flow, effortlessly manage Accounts Receivable and Payable, and ensure your resources remain readily available for your day-to-day operations.

Our accountants have proven our ability to handle the intricacies of small to large workforces time and time again, from payroll processing to employee benefits administration. We’ll make sure your staff is paid the right amount on time while keeping you compliant with ever-changing labour laws. As we ease your administrative burden, you can reap the benefits of a thriving work environment, allowing you to focus on nurturing your business’s growth.

Ben Thiel

Managing Partner

Our partners are experts in their fields so you don’t have to be

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Some quick answers for you

Bookkeeping involves systematically recording financial transactions, focusing on data entry and maintaining organised records. Accounting extends beyond this, encompassing tasks like financial analysis, tax planning, budgeting, and ensuring compliance.

If you’ve recently launched a business, you should register for GST if you anticipate your GST turnover will surpass $75,000 within the initial year. Registration for GST is obligatory within 21 days of realising this prediction.

Yes. The Australian Taxation Office (ATO) permits the deduction of specific bookkeeping costs from your business taxes, provided they adhere to the ATO’s essential criteria.

For businesses or individuals, we typically need access to previous tax records, financial statements, loan documents, income documents, expense records and any other documentation that may impact your taxes. If you aren’t sure, don’t worry. Contact our office today to organise an obligation-free consultation with one of our team. Once we’ve discussed your current situation and future goals in-depth, we’ll let you know what documentation you’ll need to provide to commence your tax planning.