Pacific Business Partners Pty Ltd in Bacchus Marsh, Victoria | Financial service

Pacific Business Partners Pty Ltd

Locality: Bacchus Marsh, Victoria

Phone: +61 412 811 702

Address: 8 Gell St 3340 Bacchus Marsh, VIC, Australia

Website: http://www.pacificbusinesspartners.com.au

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• Accountant
• Financial service
• Hospitality service

25.01.2022 At Pacific Business Partners we are all about automation. To achieve this the programs we use need to work with Xero. One program that does this is Deputy. We use Deputy for payroll and rostering, however the benefits to our clients are far greater. Deputy allows a restaurant or hotel owner to do the following: - Easy rostering, its all drag and drop and rosters can be ... copied from week to week. - Communicate with staff through direct and group messages. - Find out who is currently working through the Deputy app and even call the staff member from the app. - Predict future payroll costs when rostering and compare them to predicted sales. Its a great way to keep an eye on wage costs! - It only requires an iPad to get started and is 100% cloud based. We find that it really makes a hotel or restaurant run more efficiently and lets an owner see whats happening with staff without needing to be at the premises.

24.01.2022 Ive seen many articles recently promoting Uber Eats, Deliveroo etc as an option for pubs and restaurants. I had an interesting conversation with one of my publican clients regarding this. He told me he will never use these service as it reduces his beverage sales as clientele are not at the premises. I also feel that these services can be bad for clientele as well. The costs of these services as very high. Uber Eats can charge up to 35% commission and also charge the custom...er a $5 delivery fee. This can lead to the need to have a different menu for these services with higher prices. While many venues may report a higher food sales due to the service, I wonder how many have analysed the effect on the beverage sales? Are the increasing one revenue source while cannibalising another? One of the main attractions of a pub/restaurant is the venue and service you receive. You get none of this with Uber Eats/Deliveroo.

24.01.2022 Ive witnessed this sort of set-up at client premises. All reports have been positive with no one complaining regarding the taste. Also gets rid of a massive amount of wine waste and improves margins.

24.01.2022 Pacific Business Partners improve hotel, pub and restaurant profitability by automating financial systems. We are specialists in the hospitality industry. We often take over the role of a bookkeeper, however we add many my items that add value to our clients than a bookkeeper is capable of.... One of the main reasons for this is that we are specialists. We understand the key numbers in the hospitality industry. We know what compliance is required and can work with external accountants. We understand how important it is to report regularly and how important it is that those reports have relevant numbers to compare too. A specialist will always be able to provide more value than those who do not specialise. You could compare this to the saying 'jack of all trades but master of none'. We would rather be the master of our trade so that we can maximise value to our clients.

22.01.2022 Many Point of Sale (POS) providers are currently stating that they integrate with accounting software such as Xero. They state that they will send the bills they receive and the sales through an integration. I'm finding that there are common problem with both of these integrations. - When the sales are exported there are many variances which don't appear on the POS sales reports. The sales should be identical in both so I'm not sure how this happens. - When export payments re...ceived such as cash, AMEX and Eftpos no attempt is made to ensure that this will match the bank. For example Eftpos and AMEX are often exported together when they are separate deposits in the Bank and appear on different days.The result is extra manual reconciliation is required to reconcile the bank. - When exporting bills no consideration is given to whats already in Xero. This means that bills often double up leading to a risk of double payment. To get around the sales variance and payment received issue, we have written our own integrations for variance POS systems. We ensure the sales match and the payments are exported in a form that will match the bank. This leads to an automated bank reconciliation and no extra manual work. For bills, we use Invitbox to check for duplicates. We use Invitbox to process all bills, which means duplicates are detected before they hit Xero. We tried using the POS to Xero integrations with many of our clients. The result was frustration on both sides due to the amount of variances. After switching to our own integrations the feedback has been fantastic and the frustration has dissapeared.

21.01.2022 I've seen many articles recently promoting Uber Eats, Deliveroo etc as an option for pubs and restaurants. I had an interesting conversation with one of my publican clients regarding this. He told me he will never use these service as it reduces his beverage sales as clientele are not at the premises. I also feel that these services can be bad for clientele as well. The costs of these services as very high. Uber Eats can charge up to 35% commission and also charge the custom...er a $5 delivery fee. This can lead to the need to have a different menu for these services with higher prices. While many venues may report a higher food sales due to the service, I wonder how many have analysed the effect on the beverage sales? Are the increasing one revenue source while cannibalising another? One of the main attractions of a pub/restaurant is the venue and service you receive. You get none of this with Uber Eats/Deliveroo.

20.01.2022 I signed up a new client yesterday and the first thing that I requested was their MYOB file so that it can be converted to Xero. The clients current bookkeeper requested that instead of doing this we start a fresh Xero file as the MYOB file is in a mess. This position does not makes sense for many reasons: - An accountant will need all of the data in the MYOB file to prepare tax returns and the year end.... - We still have ongoing obligations with Business Activity Statements, payroll tax and end of year employee wage summaries. - The best place to fix the mess is in Xero, we can use our current reconciliation systems to fix the mess. This is also one area where we have an advantage over traditional bookkeepers. We are ensure that we reconcile every account every month to ensure financials are never in a mess. We also use controls and systems during the month to prevent issues from occurring.

18.01.2022 Many restaurants and pubs like to use Sunday as the last day of the reporting month. This makes sense from an operation perspective as Monday is usually a quieter day where stock takes can be performed and it removes some volatility in the profit and loss reports that occur due the number of weekends. From an reports production perspective it can often be a nightmare. Accounting programs like MYOB and Xero have standard reports that use months or standard periods for compari...son. Budgets are also always entered on a monthly basis meaning your ability to compare your current period with budgets or previous months is not always possible. Many hotel and restaurant owners will therefore receive reports that are manually prepared. Often many reports will be required from your accounting program that will be used to fill one profit and loss report that has comparative numbers. As its manually prepared it takes more time and often has mistakes. Our clients don't have to worry about this issue. They can keep their Sunday month end and still have the comparatives they need in an automated report. We only use Xero and one of the main reasons for this is that we can use an 'API' to get the data from Xero and then use Microsoft Excel to create a template for your monthly report. The report also includes all the comparative information that is needed, including budgets, prior period figures and industry benchmark data. We are specialise in the hospitality market and have real and practical solutions that help hotel, restaurant and pub owners.

18.01.2022 I've witnessed this sort of set-up at client premises. All reports have been positive with no one complaining regarding the taste. Also gets rid of a massive amount of wine waste and improves margins.

17.01.2022 Carmel has been working with Pacific Business Partners for the past 9 months. Carmel is the Financial Controller of the Open Arms Group, who own Riverland Brisbane, Plough Inn Brisbane and Public House Albury.

14.01.2022 What is a KPI report and how can it be used.

12.01.2022 Many POS providers and other restaurant related programs that receive invoice information from suppliers have developed programs that allow these invoices to be imported into accounting programs. This is seen as a time saver as you don't need to re-enter the invoice into another system which eliminates double entry. The problem I have found with systems like this is that they can not process all invoices, only beverage invoices in the case of POS or food invoices if its a fo...od ordering program. You still need to manually process other invoices. I also find that these systems generally do not check if an invoice is already in the accounting program which leads to duplicate invoices being processed and duplicate payments. When we process bills, I prefer one system to process invoices. At Pacific Business Partners we use a system called Lightyear that automates bill processing. All bills go through this system and then into the accounting program. This helps eliminate duplicate processing. Lightyear also integrates with some POS systems so that you can export invoice data out of Lightyear and then receive it into a POS system as a purchase order. It means that staff do not have to manually process a large purchase order into the POS and can just confirm numbers. Lightyear also has a double approval process for all your invoices. Invoices need to be approved by 2 users before it is exported into the accounting system. As part of this approval there is a price checking feature so that you can compare invoice prices with price lists from your suppliers.

08.01.2022 When I started my accounting business, I believed that accounting could be a product as well as a service. This means that I could tell a client what services will be performed, with a defined frequency. I also started using products that helped with automating this product, Xero, Deputy and Invitbox. I began process mapping my clients as well so that I could understand my clients fully. I found that this product worked best for hotels, restaurants and pubs. The reason was t...hat there was often less focus on financials. The owners would leave the process to a bookkeeper and would often not receive the numbers that they needed. This is where we were really able to help our clients, we focused on the numbers that mattered and delivered them to owners regularly. Owners where able to use these numbers to make changes in the business. Automating also meant we were lower cost and using offshore staff brought costs down even further. We were also able to work with external accountants who were happy working with us as it meant the financials were fully reconciled. There was no doubt the result was correct as every financial transaction had support.

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