Bookkeeping & Accounting for bakeries, cake businesses & pastry shops
Bookkeeping & Accounting for bakeries, cake businesses & pastry shops
Small & medium Bakery , cake , pastry shops prepares fresh item on day to day basis and sells. Product Bakeries sells are usually , Breads , cake , pastries , buns etc. The business model looks simple but struggles with day to day bookkeeping and managing cash flow. They Buys raw material , uses labour , equipment and prepares final product. Bookkeeping & Accounting for bakeries, cake businesses & pastry shops extremely important to understand business gross profit and net profit. Many bakeries have no idea about there gross ,Net profits. Just like measuring ingredients is important for preparing items , you must measure your financials if you are looking to grow your bakery business to be more profitable.
At Finslog we have experience of accounting for bakeries, cake businesses & pastry shops. We setup cloud accounting software for bakery shops such as Zoho books , Quickbooks , Xero etc. we work as your accounting partner to take of accounting tasks and you focus on core business. With our past experience we apply knowledge of law and accounting to minimize direct and indirect taxes.
Rajat SRIVASTAV
Bakeries
5 Stars
1. Record Your Receipts
Day to day basis bakery shops to sales on B2B , Online market places , walk in customers etc. They customers pays in cash or bank transfers or on mobile wallet. Recording all sales receipts in important to know sales and give reminders for pending payment. In Cloud accounting software you can record with custom invoice , recurring invoice. You can setup online payment setup this enable to get paid faster.
2. Sales tax Compliances
Being an product sales industry and your registered under VAT / GST law then you need to do compliances of sales tax via payment of taxes and return filing. By doing bookkeeping for bakery shops you can have reports which are required for sales tax compliances. You can take set off of input tax credit on purchases and minimize sales tax dues. Taking correct purchase input tax
credit to avoid further litigations.
3. Bank Reconciliation
Bank Reconciliation is important part of Bookkeeping & Accounting of Bakery Shops. Bank reconciliation is recording of debit and credit from bank statement in accounting software and ensure closing balance as per bank and as per books is correct. At time of even audit you need to give bank reconciliation report to your CPA.
4. Record Expenses
For cakes , pastries , breads etc. requires lost of ingredients , raw material. These contribute as cost of sales. For doing bookkeeping for bakery shop recording all direct and indirect expenses need to be recorded. Recording each expense give clear picture of financial statements helps to minimize corporate taxes. By recording all expenses reports of gross profit and net profit can be generated.
Automation of bookkeeping and accounting for bakery shops owners can help to stay organized and focus on core business growth. Automation of accounting helps to give to track inventory , Gross and net margin. Accounting software such as Zoho books , Quick books also have mobile application , so your always connected with financial records. You can closely monitor on cashflow , sales etc.
Below reports can be generated with use of cloud bookkeeping software for Bakery shops
Operate from any where
Keep track of day to day bookkeeping
Track inventory
Know cost of sales
Prepare Trial balance
Financial statement
Cash flow management
Accounting payable report
Accounts receivable report
- Convert To Xero
- Software Setup
- Accounts Receivable
- Bookkeeping for CPA
Our Accounting Services for Advertising / Marketing Industry
We have team of professional who are experienced in working with Advertising Companies. We are also certified consultant for Zoho book , Quick Booke , Xero etc. Get incredible insight into your business with advanced reports. You get real time access to your financials so you can easily understand profit margins and make changes in business strategy. Our services to logistic companies helped them to save on cash management and taxation.
1. | Month End bank Reconciliation | Monthly |
2. | Month End Loan account Reconciliation | Monthly |
3. | Compare Actuals with budget of same month | Monthly |
4. | Review Billable and Non Billable expenses | Monthly |
5. | Month End Journal Entries | Monthly |
6. | Update Vendor Reconciliation | Monthly |
7. | Update Petty Cash Balance | Monthly |
8. | Raise Alert for Accounts Receivable exceeding 45 days | Monthly |
9. | Payroll Management | Monthly |
10. | Monthly Tax payments | Monthly |
11. | Monthly Compliances of TDS , GST , IT | Monthly |
12. | Month End Reporting | Monthly |
1. Cash Flow Management
2. Proper documentation of expense
3. Correct Reporting of Sales tax returns
4. Realtime financials
5. Key Performance indicator
6. Avail Cash Credit on timely payment
There are many reasons to work with Finslog , few of them as below
Remove mistakes from books of accounts
Save time on bookkeeping and keep books live
Frees you up to look after more entertaining and higher value work.
Better Financial and tax planning