ORLA Members Benefits
My Accounting Team offers an array of benefits to the Restaurant and Lodging industry who have never before had reasonable access to systems and resources that provide insights, security, controls and peace of mind. We lead the way by embracing the power of technology and coupling it with an unparalleled level of expertise.
Real Time Access to Financial Data
Anywhere, Any Time, Any Device
The power of this is enormous. Allowing you to manage your company both effectively and efficiently. Manage vendors, pay contractors and stay focused on what you do best.
Expert Advice – CFO and Controller Level Oversight
We have expertise in all areas of finance, accounting, bookkeeping and business strategy. Your financials have Controller level oversight and will be accompanied by a monthly CFO review that includes strategic planning.
No up Front Costs – Free POS Integration
Yes, you read this correct. We will set you up – migrate your data
and implement best practices and process improvements along
Insights and Reporting – We Specialize in Slicing and Dicing
At My Accounting Team we slice and dice the data however clients want to see it. We provide customized dashboards tailored to your needs allowing you to see all your important metrics at a glance.
Compliant (GAAP) – Audit Ready Financials
Our biggest advocates are CPAs. We make their life easy at Tax time and Audit time, by delivering detailed and accurate information. Less time on the CPA’s clock results in financial savings for you. We are GAAP compliant, and use the only AICPA (American Institute of Certified Public Accountants) endorsed accounting software available in the industry.
Controls – Separation of Duties
We provide you with the strictest controls available to minimize risk. Embezzlement and fraud are words that no one wants to speak, but it is an unfortunate reality. One in five small businesses are embezzled with an average loss of $100,000.
My Accounting Team
is an ORLA Hospitality Hub Partner!
ORLA Package Includes Custom Reports and Metric Data
Trend Analysis: change vs. prior period vs. same period prior year
• Prime Cost (Labor, Food and Beverage)
• Rent, Utilities, and Property Maintenance
Every ORLA member has a cash cycle. Cash will rise just prior to paying major bills and fall just after.
MAT adjusts for these cycles.
Revenue vs. same period last year
MAT will include several measures often used to assess business value
MAT develops a monthly budget for the year and updates that budget with actuals as each month rolls and integrates this with the client’s tax plan.
MAT will grade a business from one to five based on likely outcomes. Using an algorithm developed with bankers based on nine key factors, MAT assesses and updates the “bankability” of the restaurant or chain on a scale of one to five.
Sample Dashboard Components
Our service eliminates the need for an ORLA member to ever hire, fire and train accounting staff. This is an enormous benefit allowing you to focus on essential core staff required to deliver excellent customer service. This combined with the strategic insights we provide into your operations empower you to excel as customer expectations rapidly change.
MAT will make it easy for all ORLA members to be profitable and thrive!
MAT offers the Restaurant and Lodging industry in Oregon a unique service only available through ORLA membership. Benefits include:
“Focus on what you do best and let MAT do the rest”
“MAT switched us to a 28-day accounting period rather than a monthly
cycle. This allows us to match expenses to income more directly and accurately. Now we can compare like periods year-over-year or season-to-season. Every restaurant should do this. MAT knows how to do it.”
– James McNie
Hamish Investments, Inc.
Peace of Mind
By delivering you with the Insights, Controls, Best Practices, and Accessibility in real time to your financial data MAT provides “Peace of Mind”. We deliver a transparent, easy and reliable solution in a way for you to easily and more knowledgeably serve your customer base.
The information and insights available when the numbers and documents are stored together provide insights that empower owners to make the best decisions you can for your business. Our systems allow you to minimize risk by implementing and enforcing strict controls while staying in compliance.
Take the worries away from your how your money is being handled, focus on what you do best and instead use the new found financial insights to empower and grow your business.
“As the owner of nine restaurant locations throughout the Willamette Valley, one of
my chief worries was how our money was being handled and accounted for. Since
hiring MAT, I no longer have that concern. We have one main bank account, a payroll
account, and nine petty cash accounts as well as income from nine operating units.
MAT took that on without skipping a beat.
They have established sensible systems and controls regarding both the reporting of expenditures and the tracking of income. With MAT, we get a Bookkeeper, a Controller,
a Treasurer and a CFO for a reasonable monthly fee.
MAT has designed reports for us that include the information we need in a format that makes the most sense. We get a clear picture of our financial position at any given point in time. That has enabled us to plan for future growth with much greater confidence.”
I would recommend MAT to any restaurant operator
– James McNie
Hamish Investments, Inc.
“73% of restaurant owners
who review financial accounts regularly (on a monthly schedule) were profitable. Among restaurant owners who review less frequently only 49% were profitable.”
Top 10 Reasons to
Outsource Your Accounting
Our CFO’s mantra should
be everyone’s guiding principle. “Never have the same person directing the funds be the same person
that is reconciling and preparing the accounts,
and NEVER NEVER give the same person the approval
to release funds.”
– Bruce Lange