Bookkeeping and Accounting for Pool Halls

As a pool hall owner, there are several specific expenses you'll need to regularly account for in your bookkeeping:

• Equipment Maintenance and Replacement: This includes costs for the upkeep, repair, or replacement of pool tables, balls, cues, and other necessary equipment.
• Lease or Mortgage Payments: If you don't own your building outright, you'll have regular payments towards your lease or mortgage.
• Utility Bills: Your power, water, trash pickup, and other utilities will be regular expenses.
• Payroll: You need to track the payments for all your employees, including wages, benefits, and taxes.
• Insurance: Business insurance is a necessary expense to protect against various types of potential harm to your business.
• Food and Beverage Costs: If you sell food and beverages, you'll need to track the cost of goods sold, including any waste or spoilage.
• Marketing: Any efforts to advertise or promote your pool hall should be tracked as well.
• Licenses and Permit Fees: Any regulatory fees, licenses, or permits needed for your business should also be tracked.

By keeping track of these expenses, as well as others unique to your business, you can maintain accurate financial records for proper bookkeeping and analysis.

Accurate bookkeeping can be highly beneficial in maintaining the inventory of pool equipment and supplies. It enables you to keep track of your inventory quantities, unit cost, and total value. With good bookkeeping, you can monitor the inflow and outflow of supplies, identify trends or patterns, prevent overstock or understock situations, and make well-informed purchasing decisions. Additionally, it can help in forecasts, budgeting, and financial reporting, leading to better financial management and increased profitability for your business.

The pool hall/billiards industry can often experience many seasonal fluctuations that might significantly impact your accounting processes. During certain periods of the year, like colder months or holidays, pool halls and billiard rooms can see an increase in patronage, which in turn leads to higher revenues. On the other hand, during warmer months, business might slow down.

This cyclical nature can dramatically affect your cash flow and management practices. An experienced bookkeeper can help you plan for these downturns by ensuring you're setting aside enough money during peak seasons. They also assist in identifying patterns in your financial data, enabling you to make strategic decisions based on previous seasonal trends. The right bookkeeping support can make navigating through these seasonal fluctuations much easier, helping your business maintain stability throughout the year.

Nope! All bookkeeping is completed in-house.

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.