Nightclubs

Are you a night club owner looking for a proactive accounting service that will meet the specific needs of your industry?

With many years experience working with several London night clubs we are ideally suited to handle all your accounting needs.

In the main, your accounting requirements will be the same as any other business, and for these you should refer to our “How We Can Help You” page, but there are some important differences.

Takings Controls


All night clubs receive income from more than one source. The first area of income is from the door and payments will often be made in cash as well as by credit and debit card. It is essential to have a good system in place to record not only the amount taken but the number gaining entry to the club because of the restrictions imposed on numbers by the licence. This must be represented by a sound accounting system to reconcile the tills with the actual receipts. The second area of income is of course from bar sales. Night club bars are especially busy and staff are constantly under pressure to serve quickly. Mistakes will happen in the best run bars so it is important that you have in place a system that will enable you to reconcile on a daily basis the transactions recorded on the till system with the actual money received from your customers. A system that will not only discover errors quickly, but will also tell you where the majority of errors are arising. Finally income may be generated from the Cloakroom and this will be entirely in cash. Although not at a level of the other income of the club it is still essential to ensure that the tickets given out correspond with the money taken. We can tailor these systems for you that you can keep day by day yourself.

Tips and Gratuities


The rules relating to the taxation of tips and gratuities are complex. How the tips are received in the bar and allocated to staff is of the utmost importance in deciding how the PAYE and National Insurance Contributions are administered. With effect from 1st October 2009 it is no longer possible for employers to include tips and gratuities as part of an employee’s national minimum wage. So, where in the past an employer could pay lower than the national minimum basic wage and make the pay up to that level by way of tips, he can no longer do so. Her Majesty’s Revenue and Customs (HMRC) has a PAYE scheme specifically for dealing with the PAYE and distribution of tips and gratuities called the Tronc Scheme. We have experience in setting up and administering Tronc Schemes which are separate from the businesses main payroll.

Management Accounts


Sometimes a night club will keep the door takings for itself and pay DJ’s and promoters an agreed fee and sometimes the promoter of a particular night will take all of the door take. Whatever happens it is essential for management to know how profitable or not each situation would be. Consequently the production of regular management accounts with a particular emphasis on the breakdown of the trading account is vital. Staff costs account for a high proportion of the clubs gross profit for bar, reception and waiting staff as well as the cost of security, DJ’s and performers. We can tailor regular management accounts to give you the information you require to reduce costs, increase turnover and therefore increase profitability.

We can deal with the above requirements for you very simply and, once in place, everything can be maintained on a regular basis by ourselves or for most things by you or your staff if preferred. Just fill in our enquiry form and we will get back to you to arrange a FREE CONSULTATION.

Please remember that whatever we do for you comes with our 100% Satisfaction Guarantee.



 

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