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Improving Profitability Through Smarter Finance

By Success Stories, Trending

Our client operates a group of casual dining restaurants across six locations in the UK, with an annual turnover of £4.1 million.

As the group expanded, the owners faced increasing pressure to manage cash flow across sites, monitor food and labour costs, and ensure timely, accurate reporting. With limited internal finance capacity, they approached us for support in upgrading their finance function and gaining better visibility over the business.

STREAMLINING A CLUNKY FINANCE PROCESS

We started by conducting a full review of the restaurant group’s finance processes, working closely with the operations manager and site-level teams. Our aim was to streamline their back-office systems and empower the directors with timely insights to drive profitability.

Our tailored solution included:

Migration to Cloud Accounting
We transitioned the group to a cloud-based accounting platform, providing centralised access for head office and site managers. This enabled real-time financial visibility across all locations and reduced reliance on manual spreadsheet reporting.

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Integration with EPOS and Stock Systems
Sales data from each restaurant’s EPOS system was integrated directly into the accounting software, enabling daily sales tracking and accurate VAT reporting. We also introduced a stock management system to track wastage and cost of sales, giving the directors greater control over gross margins.

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Labour Cost Monitoring
Labour is one of the largest costs in the hospitality sector. We implemented a solution that links staff rota and payroll systems to the accounts platform, allowing site-level wage costs to be monitored weekly against sales targets.

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Automated Purchase Invoice Processing
We introduced a digital solution for supplier invoice capture and coding, including approval workflows for the head chef and general manager at each site. This helped control spending and ensured invoices were matched to agreed pricing and delivery.

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Cash and Till Reconciliation
Cash variances across sites were creating reconciliation issues and lost time. We set up daily till reconciliation procedures and linked bank feeds to the accounting system, enabling more accurate cash control and reducing errors.

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Monthly Consolidated Reporting
We built bespoke monthly management accounts, including consolidated P&L by site, food and labour cost ratios, and operational KPIs. This gave the directors a clear view of underperforming locations and helped inform pricing and staffing decisions.

THE OUTCOME

Our work created a robust, cloud-based finance infrastructure tailored for the fast-paced restaurant sector.

With automated processes, integrated systems, and accurate reporting, the directors now have full visibility over site performance and tighter control over key cost areas. Most importantly, they can spend less time chasing numbers – and more time focused on growing their brand.

Introductory Meeting

To arrange an introductory meeting,
or for a quote, please complete the below form.





    With over 30 years of combined experience, our digitally-enhanced finance function provides restaurant and hospitality entrepreneurs with financial clarity and specialist advice to navigate past obstacles, identify opportunities and growth with confidence.

    ✔ Chartered Certified Accountants
    ✔ Full service – bookkeeping, accounting, payroll and tax,
    ✔ Free up time and frustration,
    ✔ Dedicated finance partners,
    ✔ Grow with confidence,
    ✔ Powered by Xero.

    09/07/2025

    Finance automation

    By Success Stories, Trending

    Our client operates a multi-site retail business with an annual turnover of £3.2 million. As the business expanded – both in-store and online – the directors found that their finance function was struggling to keep pace.

    Manual processes, lack of real-time visibility, and inconsistent reporting were making it increasingly difficult to manage cash flow, control margins, and make informed decisions. When the internal bookkeeper left, the directors approached us to review and overhaul their finance systems.

    STREAMLINING A CLUNKY FINANCE PROCESS

    We began with a detailed review of the client’s finance processes, working closely with the operations and finance teams to understand their challenges.

    From this, we developed and implemented a tailored solution that addressed key retail-specific pain points:

    Transition to a Cloud Accounting System
    We moved the business from a desktop-based accounting package to a cloud-based solution, enabling multi-location access, integration with e-commerce platforms, and real-time data visibility for the management team.

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    Automated Supplier Invoice Processing
    High volumes of purchase invoices from multiple suppliers were previously entered manually, leading to errors and delays. We introduced automated invoice capture and approval workflows, significantly improving processing speed and accuracy.

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    Integrated POS and Inventory Management
    Disconnected systems were creating stock discrepancies and delayed reporting. We helped integrate the POS system with the accounting software to enable real-time inventory tracking and margin analysis, essential for managing retail performance.

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    Automated Bank Feeds and Reconciliations
    We set up daily automated bank feeds to streamline cash management, giving directors a clearer picture of daily cash flow and reducing manual reconciliation time.

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    Mobile App for Expenses and Receipts
    Staff could now submit receipts and business expenses via a mobile app, which linked directly to the accounting system, removing the burden of chasing paperwork.

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    Custom Retail-Focused Management Reporting
    We built tailored dashboards and monthly management accounts focusing on KPIs such as gross margin by product category, store profitability, and stock turnover—giving directors actionable insight into performance.

    THE OUTCOME

    By streamlining and modernising the accounts function, we helped create a more agile and informed finance environment.

    The directors now benefit from accurate, timely reporting and improved financial controls, enabling them to better manage cash flow, respond to stock trends, and make strategic decisions with confidence.

    Introductory Meeting

    To arrange an introductory meeting,
    or for a quote, please complete the below form.





      With over 30 years of combined experience, our digitally-enhanced finance function provides restaurant and hospitality entrepreneurs with financial clarity and specialist advice to navigate past obstacles, identify opportunities and growth with confidence.

      ✔ Chartered Certified Accountants
      ✔ Full service – bookkeeping, accounting, payroll and tax,
      ✔ Free up time and frustration,
      ✔ Dedicated finance partners,
      ✔ Grow with confidence,
      ✔ Powered by Xero.

      09/07/2025
      London based payroll service to small, medium and large corporate companies.

      Employers NICs – Increase from 6 April 2025

      By Trending

      In addition NLW/NMW increases changes, there are significant changes affecting Employers’ National Insurance Contributions (NICs) from 6th April 2025:-

      • Employer NIC (Secondary Class 1) will increase from 13.8% to 15% for employees earning £5,000 per annum (or £416.67 monthly).
        The threshold, at which point at which employers start paying NICs, will decrease from £9,100 to £5,000 per year;
      • The Employment Allowance, which can be deducted from the employer’s NIC bill, will increase from £5,000 to £10,500 (allowance is only applicable across one group company and can only be used to offset employer national insurance due).

      Worked Example

      For an employee earning £35,000 per annum, employer will incur an additional annual NIC cost of £925.80 as detailed below.

      Before April 6, 2025:

      • Threshold: £9,100
      • Earnings above threshold: £35,000 – £9,100 = £25,900
      • NIC Rate: 13.8%
      • Employer NIC: £25,900 × 13.8% = £3,574.20

      After April 6, 2025:

      • Threshold: £5,000
      • Earnings above threshold: £35,000 – £5,000 = £30,000
      • NIC Rate: 15%
      • Employer NIC: £30,000 × 15% = £4,500
      19/03/2025

      UK DPNI scheme for overseas employers

      By Trending

      Overseas businesses without a UK base, who wish to hire their first UK employees can ensure that their staff are paying their national insurance and tax through a DPNI scheme.

      Our specialist payroll team have put together a guide on how the DPNI scheme works and how we can help set up your UK-based employees.

      UK DPNI scheme overview

      Overseas employers with no base in the UK are unable to set up a UK payroll for their UK-based employees, meaning that the employees are responsible for this. However, the process of setting up a UK payroll can be complex and such individuals are usually required to use a PAYE Directs Payments procedure (DPNI) scheme, if eligible. Registering for the DPNI scheme ensures the direct payment of national insurance and tax contributions to HMRC.

      What This Means

      Although all UK residents are obliged to pay income tax and national insurance, it is usually the responsibility of the employer to deduct national insurance contributions from their employee’s salary, however, this is not the case for employers who are based overseas (with no base in the UK) – meaning that the responsibility falls on the employees. However, such employers should understand the DPNI schemes so that they can advise their employees based in the UK and eliminate any anxiety they may be having around ensuring their compliance with tax and national insurance regulations. Employers with no base in the UK are also not responsible to set up auto-enrolment pensions, however, should an employer wish to provide a pension or benefits, they can voluntarily opt for a standard PAYE scheme.

       

      Registering for a DPNI Scheme

      Checking eligibility for a DPNI scheme as well as registering for it can be a lengthy and complex process as various requirements must be filled – which can take up to 2 months to complete. The complexity involved in setting up a DPNI scheme will vary depending on where an employer is based as well as if any other income is generated from assets and activities (both in the UK and overseas). All required checks are in place for HMRC to confirm that the employees are required to pay national insurance in the UK and that they are paying the right level of tax.

       

      02/03/2025

      How Apron helps Prysm Financial manage £2 million of monthly client payments with less risk

      By Trending

      Handling accounts payable for leading hospitality establishments required a tech-driven solution to speed up and streamline our payment processes, reducing the need for time-intensive manual reconciliations of client bank accounts and payments.

      The challenge: Incomplete solutions

      Before discovering Apron, Prysm explored several traditional wallet-based applications like Modulr. However, these tools only addressed a fraction of their problems, primarily focusing on fund transfers into bank accounts for payments.

      These solutions also didn’t solve for Bhimal’s other major challenges:

      Lack of integration: Despite trying different embedded payments software, Bhimal found that integration with other parts of his workflow were still lacking. He was still having to lift payment details manually, send remittances manually, and reconcile payments manually.

      Risk of fraud: Prysm manages millions of pounds of client funds each month. The solutions Bhimal had been using were inherently more prone to errors and risk.

      Prysm needed a comprehensive solution that covered a broader range of issues in the accounts payable workflow.

      Discovering Apron

      Apron came to Bhimal’s attention through a client referral. Recognising the need for an all-in-one tool to address their pain points in accounts payable, Prysm found that Apron aligned with their specific requirements — namely a need for better efficiency and greater security.

      Why Apron stood out

      Bhimal chose Apron because we provided solutions to multiple pain points in the accounts payable workflow, integrating seamlessly with Prysm’s accounting software, Xero.

      Apron offers full transparency throughout the payments process, making it easier for Bhimal to manage payments and invoices. Additionally, according to Bhimal, Apron’s “user-friendliness and scalability” were vital factors in the decision-making process.

      What’s changed since switching to Apron

      After implementing Apron, Prysm experienced significant improvements in their financial operations and payments as a service offering:

      Time savings and automation: Prysm previously had to manually prepare payment runs for clients and load them into bank accounts, a process that posed security and risk challenges. Apron automated remittances and invoice-to-payment reconciliation in Xero, resulting in streamlined bookkeeping and substantial time savings.

      Risk reduction: Managing over £2 million in payments per month came with inherent risks, such as invoice fraud and bank fraud. Apron’s account number matching feature enhanced payment security by ensuring funds were confidently routed to the correct bank accounts.

      Scalability and uniform processes: Apron provided Prysm with an approach that could be uniformly applied across all clients. This standardisation facilitated effortless scaling of services without the need to adjust processes for individual client preferences.

      Taking the pain out of supplier payments

      “Apron takes the pain out of supplier payments. There’s a reduction in risk, a reduction of man hours, and an increase in efficiency.”


      Results so far

      Prysm has seen the following since implementing Apron:

      • Volume of payments processed: Over £2 million in payments per month, including supplier and payroll payments.
      • Security and fraud prevention: Enhanced security with account number matching to prevent invoice and bank fraud.
      • Efficiency in Reconciliation: Automation of remittances and invoice reconciliation in Xero, reducing bookkeeping time.
      07/01/2024

      HMRC reminds restaurants and takeaways of VAT obligations on hot food

      By Trending

      HM Revenue & Customs (HMRC) has recently issued letters to restaurant and takeaway businesses across the country, emphasising the importance of correctly applying VAT on hot food.

      HMRC has identified 4,000 traders who it believes are under reporting their sales and is writing to 500 agents who it has on record as representing those 4,000 traders.

      The Institute of Chartered Accountants in England and Wales (ICAEW) has a copy of the letter being sent to selected agents. This suggests that HMRC has analysed data from the ever-popular food delivery intermediaries such as Uber Eats, Just Eat and Deliveroo and has identified discrepancies between that data and filed VAT returns or on corporation/sole trader tax returns.

      HMRC has identified 4,000 traders who it believes are under reporting their sales and is writing to 500 agents who it has on record as representing those 4,000 traders.

      The Institute of Chartered Accountants in England and Wales (ICAEW) has a copy of the letter being sent to selected agents.

      This move comes amidst potential confusion amongst business owners regarding the varying VAT rates applicable to different types of food items.

      Understanding VAT on hot and cold takeaway food

      The crux of the matter lies in distinguishing between hot and cold takeaway food items and their corresponding VAT rates.

      It’s essential to note that all hot takeaway food and most drinks are subject to a standard VAT rate of 20 per cent.

      This includes a wide range of items typically sold in a heated state or specifically prepared to be consumed hot.

      On the other hand, certain cold takeaway foods can enjoy a zero-rated VAT status.

      Notably, this includes items like sandwiches, cakes, and even pasties and other cooked pastry products.

      However, for these items to be zero-rated, they must not be advertised as hot products and should not be kept warm post-cooking.

      06/01/2024