Retail and F&B businesses can involve high transaction volumes, multiple outlets, inventory, cash and card transactions, online marketplaces and complex revenue streams. ST & Partners PLT provides audit, accounting and taxation services to businesses operating in retail, F&B and related sectors.
Common Areas Requiring Attention
Depending on the business model, audit procedures may cover:
- Revenue from physical outlets
- Online sales
- Shopee and Lazada transactions
- Delivery platforms
- Cash and card collections
- Inventory
- Wastage and spoilage
- Promotional discounts
- Customer loyalty programmes
- Gift vouchers
- Supplier rebates
- Rental and lease arrangements
- Multiple outlets
- Intercompany transactions
- Payroll and staff costs
Businesses With Multiple Outlets/Branches
Businesses operating multiple outlets may require additional procedures to reconcile outlet-level sales, inventory and expenses with the company’s accounting records.
Our team can work with management to understand how information flows from individual outlets and sales channels into the company’s accounting records.
E-Commerce Businesses
For online retailers, accounting records may need to reconcile information from multiple marketplaces and payment platforms.
Examples include:
- Marketplace sales
- Platform commissions
- Refunds
- Shipping charges
- Promotional rebates
- Payment gateway charges
- Customer returns
Talk to Our Team
If your retail or F&B business is growing, adding outlets or expanding into e-commerce, early accounting and financial reporting support can help management maintain reliable financial information.