Accounting challenges F&B companies face

Irregular collection and transportation of Z reports, sales receipts and supplier invoices to HQ, resulting in accounting backlog.

​Manual entry of daily sales data from POS to accounts is manpower-intensive and costly. 

Manual process is time-consuming and error-prone.
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​Benefits of Lee Wenyong & Co. accounting

​Strong focus on automated accounting.

Accounting best practice and system integrated with Hungry-Go-Where POS.

Focused on the F&B industry with pre-built P&L and balance sheet statements for F&B.

​Our team of professional accountants manages your accounting entirely, taking care of all accounting responsibilities including accounts receivables data entry for cash, card and invoiced payments, and accounts payables data entry for settlement of suppliers invoices.

​In addition, the profit & loss statement, balance sheet and analytics reports are automatically emailed to SME owners every month.

Reports can be consolidated by company or by individual outlet​.

Accounting task	Manual process	Lee Wenyong & Co. accounting
Outlet manager sends hardcopy documents and Z reports to HQ	Weeks	Immediate
Lost supplier invoices	more than 15%	0%
Data entry into accounting module	Never ending ​	Never
Employee job satisfaction	Low	Increased
Cost over time	Increasing as salaries rise	Low

​Savings

​Savings at least $600/month in salary cost as there is no need to hire a part-time administrative assistant to perform daily sales data entry.

100% accuracy of daily sales data transferred from POS to accounting system since all sales transactions recorded in the POS is automatically pushed into the accounting General Ledger module.

​100% timely submission of monthly / quarterly / yearly financial statements and tax documents to IRAS, avoiding expensive late submission fines.