Restaurant Accountant

Job Summary:
We are looking for a detail-oriented and experienced Restaurant Accountant to manage the financial operations of our restaurant business. This position will involve overseeing daily financial transactions, maintaining accurate financial records, preparing reports, managing payroll, and ensuring compliance with tax regulations. The ideal candidate should have prior experience in the hospitality industry and strong analytical skills.

Key Responsibilities:

• Financial Record Keeping:
• Maintain accurate records of all financial transactions, including sales, purchases, expenses, and payments.
• Ensure proper recording and categorization of all transactions in the accounting system.
• Sales & Revenue Management:
• Monitor daily sales reports and cash flow, ensuring accuracy.
• Reconcile sales records with payment methods (cash, card, digital payments).
• Accounts Payable & Receivable:
• Manage vendor accounts, process invoices, and ensure timely payments to suppliers.
• Monitor accounts receivable and ensure collection of outstanding amounts.
• Payroll Management:
• Process and calculate employee salaries, wages, and bonuses.
• Ensure compliance with labor laws and statutory deductions (EPF, ESI, taxes)
• Financial Reporting:
• Prepare monthly, quarterly, and annual financial reports including profit and loss statements, balance sheets, and cash flow statements.
• Assist in budgeting and forecasting.
• Tax Compliance:
• Ensure compliance with Goods and Services Tax (GST) and other applicable tax regulations.
• Prepare and file GST returns and other statutory filings.
• Cost Control and Analysis:
• Track food and beverage costs, labor costs, and other operational expenses.
• Assist in identifying areas for cost reduction and improving profitability.
• Audit & Internal Controls:
• Coordinate with auditors during audits and provide necessary documentation.
• Implement and monitor internal controls to safeguard financial assets.
• Bank Reconciliation:
• Reconcile bank statements with the restaurants financial records.
• Resolve any discrepancies in a timely manner.
• Other Financial Duties:
• Provide financial advice and support to the management team.
• Assist with financial planning and strategy for the restaurant.

Qualifications & Skills:

• Bachelor's degree in Accounting, Finance, or a related field (preferably a Masters in Accounting or Finance).
• Minimum of 5-7 years of experience in accounting, preferably in the hospitality or restaurant industry.
• In-depth knowledge of accounting principles, financial reporting, and tax regulations.
• Familiarity with accounting software (e.g., Tally, QuickBooks, or similar).
• Strong proficiency in MS Excel.
• Excellent attention to detail and organizational skills.
• Good communication skills and the ability to work in a team.
• Ability to work under pressure and meet deadlines.
• Knowledge of GST and other statutory tax requirements.

Preferred Skills:

• Experience with inventory management and cost control.
• Experience in handling payroll and employee benefits.

Compensation:

• Competitive salary based on experience.
• Benefits as per company policy.