Bookkeeping for Restaurants
POS reconciliation, tips and gratuity tracking, inventory cost management, payroll for hourly staff, and HST filing — built for the pace and complexity of the food service industry.
Last updated: March 2026
Why Restaurants Need Specialists
The Financial Complexity of Running a Restaurant
Daily cash transactions, tips, inventory, complex HST rules, and high staff turnover make restaurants one of the most bookkeeping-intensive businesses to operate.
Tips and Gratuities Complexity
Tips paid to employees must be tracked and reported separately. Mandatory service charges are taxable income; voluntary tips are not — but both create payroll compliance obligations.
Inventory and Cost of Goods
Food and beverage inventory fluctuates daily. Without proper tracking, cost of goods sold is inaccurate — making your profitability reports meaningless.
POS Reconciliation
Square, Toast, Lightspeed, and other POS systems generate daily sales data that must reconcile exactly to your bank deposits and HST collected.
Payroll for Hourly Staff
High staff turnover, variable hours, tip declarations, and vacation pay calculations make restaurant payroll one of the most error-prone areas of small business bookkeeping.
Our Services
What Taxxel Handles for Restaurants
Tips and Gratuity Tracking
Proper classification of declared tips, mandatory gratuities, and tip-out distributions for payroll and HST compliance.
Inventory Reconciliation
Monthly food and beverage cost tracking reconciled against purchases and sales for accurate COGS reporting.
POS System Reconciliation
Daily POS sales matched to bank deposits — catching voids, refunds, and discrepancies before they compound.
HST/GST Filing
Quarterly HST returns covering dine-in, takeout, catering, and alcohol sales — each with different applicable rates.
Payroll for Restaurant Staff
Weekly or bi-weekly payroll for hourly and salaried staff, including tip declarations, vacation pay, and Records of Employment.
Monthly Financial Statements
P&L that shows food cost percentage, labour cost percentage, and net margins — the KPIs that matter for restaurants.
Supplier Invoice Management
Tracking and reconciling supplier invoices against deliveries and statements to avoid overpayments and double billings.
CRA Compliance
Restaurants are a common CRA audit target due to cash transactions. We keep your records clean, consistent, and defensible.
Complete Package
What's Included
- Daily POS reconciliation to bank deposits
- Monthly inventory cost of goods reconciliation
- Tips and gratuities classification and payroll integration
- Weekly or bi-weekly payroll processing
- Vacation pay, stat pay, and ROE management
- HST/GST quarterly filing (dine-in, takeout, alcohol)
- Supplier invoice tracking and accounts payable
- Monthly P&L with food cost and labour cost percentages
- Bank and credit card reconciliation
- T4 preparation and year-end payroll summary
- Monthly balance sheet and cash flow report
- Year-end financial statements for T2 or T1 filing
Pricing
From $100/month
Flat monthly fee based on your sales volume, staff count, and services required. No hourly billing — ever.
Get a Custom QuoteFrom Food Trucks to Multi-Location
We work with single-location restaurants, food trucks, catering businesses, and multi-location operators across the GTA.
FAQ
Frequently Asked Questions
Ready to Get Started?
Get in touch today — we are here to help with your tax and bookkeeping needs.
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