The Annual Accounting Calendar for F&B Businesses

In the F&B industry, challenges never cease: store operations, ingredient costs, staff scheduling, seasonal promotions…

Financial management is often forced to the back seat. Yet in reality, finance is the foundation of a company’s sustainable growth.

If we break the year down month by month, we’ll find that every stage comes with its own financial priorities and compliance requirements.

Below, we’ve prepared a full-year accounting calendar for F&B businesses, helping you stay prepared and avoid scrambling at the last minute during tax season.

January: Annual Account Cleanup

At the start of the new year, F&B businesses need to close the previous year’s accounts and reconcile invoices and inventory.

• Reconciliation: Ensure that supplier and customer statements match
• Inventory check: Verify raw material and consumable stocks to minimize idle losses
• Year-end tax prep: Organize invoices and payroll records in advance

ccMonet Tip: Employees can upload receipts with their phones, and AI automatically categorizes them into the books—no need to worry about missing anything.

February – March: Tax Filing Peak

In Singapore, corporate tax filing for Estimated Chargeable Income (ECI) typically falls within this period.

• Submit ECI on time to avoid penalties
• Prepare year-end financial statements

ccMonet Tip: Dual review by AI + experts ensures reports are accurate and compliant.

April – June: Audit and Budget Season

F&B companies usually conduct audits and set budgets for the next financial year during this time.

• Audit: External auditors review financial data
• Budgeting: Set revenue and cost targets for the new year based on past sales trends

ccMonet Tip: Real-time visibility into profits and expenses means your budget is backed by solid data.

July – September: Mid-Year Review

As the second half of the year begins, it’s the best time to review financial performance for the first six months.

• Analyze revenue and cost structures from the first half
• Adjust purchasing and promotional strategies
• Manage cash flow to prevent liquidity issues during slow seasons

ccMonet Tip: AI Insights automatically generates business analysis—owners can grasp it at a glance.

October – November: Tax Filing and Planning

As the financial year draws to a close, the focus shifts to tax preparation and planning.

• Consolidate annual accounts and prepare IRAS filings
• Check whether tax reliefs or deductions have been fully utilized

ccMonet Tip: Our expert team responds quickly and answers your questions, helping you avoid underreporting.

December: Wrap-Up and Outlook

Year-end is the key moment for reflection and planning ahead.

• Finalize year-end inventory and financial statements
• Review overall profitability
• Develop the financial plan for the coming year

ccMonet Tip: With automated accounting throughout the year, closing the books at year-end becomes effortless.

Conclusion

Financial management for F&B companies isn’t something to think about only at year-end—it’s a year-long marathon.

With ccMonet, you don’t need to be a finance expert to stay in control of the yearly rhythm:

• Snap and upload receipts, auto-booked instantly
• Recognizes multi-currency, multi-language, even handwritten bills
• Real-time visibility into profits and expenses
• Dual assurance of AI + expert review for compliance and peace of mind

👉 Want your financial system to run as efficiently as your operations?
‍Experience ccMonet today, and make finance professional yet effortless.

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