COMPREHENSIVE HOSPITALITY SOLUTIONS, LLC
Comprehensive Hospitality Solutions, LLC, provides complete bookkeeping, accounting, and back office support. Most companies no longer process payroll in house—so why devote precious resources to maintaining in-house bookkeepers and accountants?
By outsourcing these functions with our qualified, knowledgeable team, you’re free to focus on what matters—the success of your business. Our seamless, paperless solution provides superior value, often at lower cost than an in-house team.
Learn more about our comprehensive suite of services below.
Comprehensive Hospitality Solutions has earned a reputation as one of the most trusted outsourced bookkeeping teams in the industry. The experienced professionals on our team handle all your bookkeeping needs, including:
- Monitoring banking activity daily
- Recording revenue and expenses
- Managing accounts receivable and payable
- Corresponding with vendors
- Recording payroll
- Maintaining the general ledger
- Addressing cash requirements
And because we exclusively serve the hospitality industry, you can feel confident you’re in good hands.
We take the time-consuming tasks of paying bills, dealing with vendor payments, and maintaining books and records for you, so you can concentrate on your business operations.
We understand accounting for the hospitality industry. Things like handling commissaries, dealing with service fees, tracking tips, allocating between locations, third-party booking and/or delivery, managing catering deposits, and capital investment structures.
When you entrust us to handle your bookkeeping, we assign you a team of certified bookkeepers with decades of combined hospitality industry experience. Their job is to understand your business, resolve issues as they arise, and be your go-to resource for advice—to help you run your business optimally with best practices.
Comprehensive analytics are key to optimizing business profitability. We use analytics to help you see the full picture about how your business is performing.
We measure your business against industry benchmarks and prior performance budgets, and we compare the performance of multiple locations (if applicable) to identify areas for improvement.
In the hospitality industry small changes can translate into significant savings. Things like reducing laundry and cleaning expenses, negotiating better prices with one or two food suppliers, and making strategic changes to staffing.
Our analytics show you whether your business is performing at, above, or below industry averages. And they identify your breakeven point, calculate cost to open and profit on incremental revenue, and segregate food beverage and FOH/BOH labor costs.
We design our reports in a way that enables you to zero in on key areas, so your managers can make critical decisions.
Our Analytical Package includes:
- A broad variety of Key Performance Indicators (KPIs), both standard within the industry and customized for your business
- Front of house/back of house analysis
- Labor cost analytics
- Recipe costing and menu profitability
- Tracking/trending of overall business performance and changes in KPIs
- Benchmarking against prior periods, budgets, industry standards and colocations (as applicable)
- Breakeven analysis, scenario and goal achievement, and strategic planning
- Monthly consultations to address issues identified within the analytics
Our analytical package also includes strategic planning, budgeting and forecasting, near-term forecasting, and short-term cash flow projections. We benchmark performance against each of these metrics as well as industry standards on an ongoing basis.
Read further about our accounting services:
Securing Financing and Loans
Exclusively for our bookkeeping clients seeking lines of credit or loans, we compile a package of key financial information that illustrates your true business picture. Then we present it to banks with whom we have well-established relationships. There are significant advantages to having Comprehensive Hospitality Solutions help you secure financing:
- We work closely with departments at banks that specifically serve the hospitality industry.
- We compile the specific information the lender needs and present it in the appropriate format. This saves time and eliminates back and forth correspondence.
- While not audited, the information is presented by CHS, an independent third party with knowledge of the client.
- Because we are your bookkeepers, the bank has the assurance the books and records are being properly maintained.
While it’s typical for manufacturers to provide financing for equipment purchases, they may not provide the most favorable rate. This is why we encourage our clients planning major equipment purchases to get competing quotes from our lending network. This can help reveal potential savings.
*** We perform these services upon request exclusively for our bookkeeping clients at no additional charge. ***
- Securing Financing and Loans: Selling Your Business
Hospitality Sales and Marketing
Many business owners simply don’t have the time they need to focus on marketing. We can help you get the marketing services you need to grow your business.
We’ve partnered with several hospitality-focused marketing firms and integrated their services into one of our monthly accounting package options.
We work directly with the firm on your behalf to ensure they manage your marketing campaigns on schedule and to your satisfaction throughout the year. Our goal is to become a source of revenue for your business rather than an expense.
Full-service marketing activities include:
- Social media management
- Ad copy design
- Print and electronic media
- Market strategy and analytics
- Graphics and brand design
- Website management and SEO
- PPC management
- Public relations
- Branding and image management
If instead you decide to work directly with one of our marketing partners, you’ll receive a discounted rate.
*** Inquire as to our revenue increase guarantee. ***
Opening, Buying or Expanding a Hospitality Business
We have assisted many clients in opening or buying into a hospitality business. We provide help with many aspects of due diligence and setup, including:
- Capital requirements calculation
- Cash flow analysis
- Comprehensive due diligence list (for purchases)
- Assistance setting up terms with vendors
- First-year budgeting and benchmark development
- Construction cost capitalization recommendations
- Assistance in obtaining financing or presenting to investors
We have years of experience working with a variety of platforms, and we can offer an independent assessment on many systems.
We’ll help you solve common vendor issues by providing advice on how to:
- Obtain better-quality or lower-cost providers
- Source locally in a new location
- Negotiate better payment terms
- Verify whether a vendor is charging a fair and reasonable price
- Handle consistency problems with vendors
- Reduce late deliveries
We also offer advice on how to best evaluate technology solutions.