Accounting for Restaurants

In the current corporate climate, made up of sophisticated compliance and technical financial reporting standards, it can be difficult for Restaurants to guarantee the transparency of financial insights while managing the business on a daily basis.

Regulatory compliance, critical financial estimates, byzantine bureaucracy, extended financial reporting data (required for tax liability) and prudent behavior in the preparation of financial reports may prove hazardous and more challenging to manage than the business itself.

Our years of experience and our team of CPAs enable us to serve your Restaurant in a financial sense by managing your accounting procedures. With us, you can strike bookkeeping from your ‘to-do’ list and focus on more strategic elements of the business.

What do we think about our service?

AccountingBased on our market understanding and years of experience, we are of the view that businesses should consider outsourcing their accounting to a group of CPAs that deal specifically with Restaurants and free up their time for more pressing matters. We offer excellent services in these areas and enjoy a strong reputation within the Czech Republic. Our main services are corporate secretarial compliance, business advisory, risk advisory, banking management, internal controls, business process improvement, e-commerce based accounting, e-commerce taxation, liquidation and changing business addresses. There are many other hurdles that DoMyTax may help you to overcome in the Czech Republic, so get in touch!

Why work with us?

  • Detailed understanding of company laws prevailing in the Czech Republic.
  • An experienced team of consultants ready to ensure best-in-class services. 
  • All of our services are delivered with our maker-checker policy.
  • Air-tight quality control for the services we offer. 
  • Our team are able to work remotely, depending on the task. 
  • Sensible and actionable advice grounded in local knowledge and backed by international and Czech-specific experience.
  • A very fair fee combined with high quality professional services.
  • Bespoke service plans are available depending on the needs of your company.
  • We have faith in the quality of our services and your post-work satisfaction. 

What do we do?

  • Our firm provides a range of financial advisory services for Restaurants. Our services range from advice on financial transactions to the preparation of financial statements.
  • We establish the accuracy of our financial data by reconciliation, performing a test of details, implementing segregation of duties, installing a strong internal quality-control system, and identifying weaknesses in the approval and execution of financial transactions.
  • We produce advanced business reports for decision-making and performance assessments and assist in other  aspects such as opening a bank account.
  • Tap into our years of experience and extended knowledge to enhance the strategic positioning of your company.
  • Ensure your accounting record is free from material misstatement and updated timely.
  • Additionally, we provide internal and support external auditors when it comes to analyzing tasks. 
  • Our corporate secretarial service includes a range of different services such as sole trader registration and business registration, liquidation, change of business address etc.

How do I register my Restaurant as a sole proprietorship or a company in the Czech Republic?

Register businessYou’ll need very basic documents for registering a Restaurant as a sole proprietorship or a company in the Czech Republic. The registration information includes a ‘certificate of no criminal record’ in the Czech language, an occupancy arrangement for the place you have rented (or that which you intend to register as a legal address), and a current visa or a biometric card. After the submission of all required documents, it should take around a week to register your company or sole proprietorship.

Here are some examples of possible pricing scenarios:

Service Price w/o our tariff, CZK Price for our tariff payers, CZK
Sole trader registration with 1 year’s worth of free accounting service (Start tariff) 9500 CZK/380 EUR 9500 CZK/380 EUR
Company registration with 1 year’s worth of free accounting services (Start tariff) 29500 CZK/1200 EUR 29500 CZK/1200 EUR
Legal address for 1 year 7200 CZK 6000 CZK
VAT registration From 6000 CZK From 5000 CZK

* Prices do not include VAT.

When incorporating a Restaurant, some more documents are required in addition to the above. For instance, information regarding an authorized capital account, an organization form, the name of the company, the names of the Directors, a testament of no criminal record from each of the directors, and articles of association.

We’ll help you throughout the entire process, from compiling the assortment of documents to filing information and receiving the affirmation. Most of all, we offer all of this for a very reasonable price. Make sure that you take advantage of your free one-hour consultation, during which our representatives will explain all the details and present you with a clear plan and a quote.

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