u/ParkingSalad7867

New-ish venue owner - struggling due to this

Hi all,

Just opened our second venue in NYC and wanted to share a challenge we've been running into. Hoping to hear how others have handled it.

As we've grown, bookkeeping has soared to taking up 10-15+ hours a week. We have a full-time bookkeeper, but a lot of that time is taken up by manually tracking our vendors, freelancers, subcontractors, collecting W-9s, logging payments, etc. (It's become a real bottleneck for growth)

Curious what you guys are using to manage vendor/contractor tracking and consolidate your software stack. What's working for you guys?

reddit.com
u/ParkingSalad7867 — 9 days ago

This one thing has been slowly destroying my business from the inside out

Hi. We work with a good amount of contractors and vendors throughout the year and staying organized for tax season grows increasingly harder as we grow. In recent years, I'm spending up to 10-15+ hours a week just trying to keep books organized. It's gotten to the point where we're unable to grow at current capacity due to a lack of time and organization.

Really just looking for ways that we can consolidate our software stack and win back some time every week. What are you guys using to track payments and collect W-9s?

I've looked into a few of the big names (Brex, Bill), but they're either really expensive or just don't quite fit our needs. Any suggestions appreciated.

reddit.com
u/ParkingSalad7867 — 10 days ago

Best way to track 1099 vendor payments throughout the year?

Have a few clients in hospitality with a high volume of contractor payments and W-9 collection is always a last minute scramble. What are other bookkeepers using to manage this proactively? Any suggestions appreciated.

reddit.com
u/ParkingSalad7867 — 10 days ago

How do you pay out and track 1099 vendors at your bar?

We've got a pretty steady rotation of contractors throughout the year and tax season is always a scramble. What are other bar owners using to stay organized with payments and W-9 collection? Any platforms or processes that have worked for you?

reddit.com
u/ParkingSalad7867 — 10 days ago