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BeaverTails (Outlet Collection & Niagara Falls stores)

https://beavertails.com/

BeaverTails pastry shops specialize in serving iconic Canadian pastries known as beavertails. These hand-stretched, fried dough pastries are topped with a variety of sweet and savoury options. The shops offer a unique, indulgent treat experience combining traditional recipes and modern flavours. BeaverTails Outlet Collection and Niagara Falls have been popular tourist and local attractions for many years.

Sector

Food & Hospitality / Fast Food

Unique Challenges

The Beavertails Niagara shops are impacted by the seasonality of tourist-heavy periods, usually from April to October. The seasonality in the operating cycle presents several accounting challenges, such as payroll management, inventory planning, and fluctuating revenue and expenses, which complicate budgeting and forecasting. Businesses must manage cash flow to handle periods of high and low activity, ensuring they have enough liquidity during off-peak times. Accurately matching revenue with related expenses becomes crucial, as does adjusting inventory levels to meet seasonal demand. Additionally, financial reporting must account for these variations to provide an accurate picture of the business’s financial health throughout the year.

BeaverTails Outlet Collection and BeaverTails Niagara Falls are managed under the same ownership. Operating two shops poses unique accounting challenges, such as accurately tracking and consolidating revenue from both locations, properly allocating shared and store-specific expenses, and coordinating inventory levels to avoid overstock or stockouts. Clear financial reporting that reflects performance of each shop individually and collectively is essential.

Another important aspect of financial management and asset protection is corporate wealth planning and family trusts. Corporate wealth planning involves structuring assets and investments to maximize tax efficiency and business growth. Family trusts can be established to safeguard family wealth, provide for future generations, and minimize estate taxes.

AZ Accounting Solution

Robust financial planning and analysis are essential to addressing these challenges effectively. To mitigate the impact of seasonality on cash flow, AZ Accounting focused on providing timely, comprehensive reporting to the Management. AZ Accounting efforts include providing accurate sales and transaction classification, analyzing inventory levels, computing the Cost of Goods Sold (COGS), distributing payroll costing, and tracking future tax liabilities. These procedures are performed to comply with accounting standards as well as franchising guidelines.

The multi-shop operation requires integrated accounting systems and regular financial analysis to maintain operational efficiency and accuracy. AZ Accounting designed and implemented such systems and integrated data flow from sales, expenses, and document management cloud solutions. In addition to maintaining individual accounting systems, AZ Accounting team synchronizes inter-company transactions, such as inventory transfers, short-term loans, and expense reimbursements.

Finally, to enhance store owners’ wealth planning efforts, AZ Accounting collaborated with wealth planners and other financial experts to choose a correct trust structure, understand tax implications, and ensure compliance with legal requirements. Combining these approaches helps achieve long-term financial goals while preserving wealth across generations. AZ Accounting worked closely with multiple parties to design and implement these comprehensive structures while keeping the core operations in mind.

Success Factors

  • Customized solutions tailored to the client’s unique sector and needs
  • A comprehensive set of accounting solutions provided by AZ Accounting
  • Close collaboration and document management solutions
  • Working relationship with the company’s legal team
  • Thorough research and knowledge base of tax regulation
  • Management’s receptiveness to our advice

What the Client Says

Great firm to work with. They have helped me with all my accounting needs, including payroll. Their team is very quick to respond and always available if you have any questions. They have a great understanding to help small business owners and provide recommendation

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Companies of all sizes and industries rely on 
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