Xero and MYOB - Accounting By Industry Hospitality Accounting From small cafes, fast food restaurants and large sit down restaurants, hospitality makes up a massive part of our modern consumer society. High rent and staff costs and good POS systems are big factors in running an efficient, systemised business at a good profit. Retail Accounting Retail shops are similar to hospitality businesses where the inventory is more tangible and more like the inventory for import and distribution businesses. Inventory management and reporting is critical and good POS and merchant services to manage the many small transactions are cornerstone processes that every good retailer needs to have. NEXT WEEK: ATO Compliance & BAS